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

              Thursday, November 9, 2017, Vol. 21, No. 312

                            Headlines

1098 BLUE HILL: Wants to Use Cash Collateral Through March 15, 2018
199 REALTY: DOJ Watchdog Seeks Appointment of Ch. 11 Trustee
309 BARONNE: Plan Filing Deadline Pushed Back
419 SW 2ND AVENUE: Wants to Use Cash & Pay Critical Vendors
500 NORTH: May Use Cash Collateral Through January 2018

800 BOURBON: Directed to Release $1.6MM from Escrow to Bay Bridge
ADVANCED DISPOSAL: S&P Ups CCR to BB- on Reduced Sponsor Ownership
AMERICAN AIRLINES: Term Loan Re-pricing No Impact on Fitch BB- IDR
ARISTOCRAZY LLC: Chapter 727 Claims Bar Date Set for Jan. 18
ASPEN COURT: May Use Cash Collateral Through Dec. 31

AVON PRODUCTS: Egan-Jones Lowers Commercial Paper Ratings to B
BAILEY'S EXPRESS: May Use Up to $52,166 of Cash Until Nov. 25
BELLA ROSE: Has Interim Approval to Use Cash Collateral
BERNSOHN & FETNER: Case Summary & 20 Largest Unsecured Creditors
BLUE STAR: Court Approves Joint Amended Disclosure Statement

BNOIS SPINKA: To Dissolve & Wind Up Remaining Affairs
BROADSTREET PARTNERS: S&P Cuts ICR to 'B' on Dividend Payment Plan
BRUGNARA PROPERTIES: Dakota Note Seeks Ch. 11 Trustee Appointment
CAESARS ENTERTAINMENT: Egan-Jones Hikes Sr. Unsec. Ratings to B
CALIFORNIA RESOURCES: Reports $133M Net Loss for Third Quarter

CAMBER ENERGY: Reports $3 Million Net Loss for First Quarter
CAPITOL SUPPLY: May Use Cash Collateral for 30 Days
CBL & ASSOCIATES: S&P Lowers CCR to 'BB+', Outlook Stable
CENTENNIAL PROJECT: Case Summary & 3 Unsecured Creditors
CIBER INC: Wants to Maintain Plan Exclusivity Through February 5

COMMUNITY HEALTH SYSTEMS: S&P Affirms 'B-' CCR, Outlook Stable
CONSOL ENERGY: Egan-Jones Hikes Sr. Unsec. Ratings to B
COPSYNC INC: Auction Set for Nov. 20, Bids Due Nov. 16
CORNERSTONE ONDEMAND: Egan-Jones Ups Commercial Paper Ratings to C
CRANBERRY GROWERS: $13M DIP Loan Has Final Approval

CRYOLIFE INC: S&P Assigns 'B' CCR on Recapitalization
CYPRESS SEMICONDUCTOR: S&P Rates New $150MM Convertible Notes 'B+'
D. WHITTELSEY: Chapter 727 Claims Bar Date Set for Feb. 23
DYNEGY INC: Egan-Jones Assigns 'B' Sr. Unsecured Debt Ratings
EAGAN AVENATTI: Seeks January 31 Plan Filing Exclusivity Extension

EAGLE RIDGE ACADEMY: S&P Alters Outlook to Neg. on Weak Finances
ENTERCOM COMMUNICATIONS: S&P Affirms B+ CCR Amid CBS Radio Deal
EPTMS INC: Wants To Use Money in Bank of America Account
EURONET WORLDWIDE: S&P Affirms 'BB+' $402.5MM Debt Rating
EXCELITAS TECHNOLOGIES: S&P Affirm 'B-' CCR Amid AEA Investors Deal

EXGEN RENEWABLES: S&P Assigns 'BB' CCR & Rates Term Loan 'BB+'
F.G. DEVELOPMENT: Case Summary & Largest Unsecured Creditors
FIELDWOOD ENERGY: Moody's Affirms Caa3 Corporate Family Rating
FM 544 PARK: Case Summary & 17 Largest Unsecured Creditors
FPL ENERGY: Fitch Affirms BB Rating on $365MM Senior Secured Notes

FREEDOM HOLDING: Gets Regulatory OK to Close FFINEU Acquisition
FREEDOM HOLDING: Signs Deal to Acquire Freedom UA
GENERAL COMMUNICATIONS: Egan-Jones Cuts FC Sr. Unsec. Rating to B-
GINNYBAKES LLC: Chapter 727 Claims Bar Date Set for Feb. 1
GREYSTAR REAL ESTATE: S&P Alters Outlook to Stable

GREYSTAR REAL: Moody's Assigns B2 Rating to New Sr. Secured Notes
HALEN CAPITAL: Chapter 727 Claims Bar Date Set for Feb. 26
HARBORVIEW TOWERS: Penthouse 4C Seeks Appointment of Ch. 11 Trustee
HARRINGTON & KING: May Use Cash Collateral Through Nov. 17
HARSCO CORP: Egan-Jones Hikes Sr. Unsecured Ratings to B+

HERBALIFE LTD: Egan-Jones Lowers Sr. Unsec. Ratings to BB
INTERNATIONAL ACADEMY OF FLINT: S&P Cuts 2007 Bonds Rating to BB
IPAYMENT INC: S&P Affirms 'B+' Debt Ratings Amid Upsized Loans
J&S AUTO: Has Court Permission to Use Cash Collateral
JOURNAL-CHRONICLE: May Use Up To $424,500 of Cash Collateral

KRATOS DEFENSE: Moody's Assigns B3 Rating to 2025 Sec. Notes
KRATOS DEFENSE: S&P Rates New $300MM Senior Secured Notes 'B'
LAFFITE'S HARBOR: Case Summary & Top Unsecured Creditors
LAMAR ADVERTISING: Egan-Jones Lowers Sr. Unsecured Ratings to BB+
LAW-DEN NURSING: Patient Care Ombudsman Files Sixth Report

LBJ HEALTHCARE: PCO Files Ninth Interim Report for Villa Luren
LEGALZOOM.COM INC: Moody's Assigns B3 CFR; Outlook Stable
LEGALZOOM.COM INC: S&P Gives B- Corp Credit Rating, Outlook Stable
LIBBEY GLASS: Moody's Lowers CFR to B2; Outlook Stable
LIBBEY INC: S&P Cuts CCR to B on Weak Industry & Operating Trends

LIONS GATE: Egan-Jones Hikes Sr. Unsec. Ratings to BB-
MJM DEVELOPMENT: Case Summary & 5 Unsecured Creditors
NATGASOLINE LLC: S&P Places 'BB-' Rating on CreditWatch Negative
NATIONAL VISION: S&P Raises CCR to 'B+' on Improved Credit Metrics
NAVISTAR INT'L: Fitch Rates New $1.6BB Term Loan 'BB-'

OCONEE REGIONAL: Intends to File Chapter 11 Plan by December 21
OECONNECTION LLC: Moody's Assigns B3 CFR; Outlook Stable
OECONNECTION LLC: S&P Assigns 'B-' CCR On Proposed Refinancing
OFFICE DEPOT: S&P Affirms 'B+' Rating on New $750MM Term Loan
ORANGE ACRES: Plan Filing Deadline Extended Until December 29

ORGANIZATIONAL DEVELOPMENT: Claims Bar Date Set for Jan 27
PACKERS HOLDINGS: S&P Cuts CCR to B- on Dividend Recapitalization
PANERA BREAD: Egan-Jones Cuts Sr. Unsecured Ratings to B+
PARETEUM CORP: Amends 10.4 Million Shares Prospectus with SEC
PHH CORP: Egan-Jones Hikes Sr. Unsec. Ratings to B-

PLAYA HOTELS: S&P Lowers Senior Secured Debt Rating to 'B+'
PROFLO INDUSTRIES: Hearing on Continued Cash Use Set for Nov. 16
QEP RESOURCES: Moody's Rates Proposed $500MM Sr. Unsec. Notes Ba3
RE/MAX LLC: S&P Places 'BB' Corp. Credit Rating on Watch Negative
RED CHIP VENTURES: Voluntary Chapter 11 Case Summary

REDBOX AUTOMATED: S&P Affirms 'B' CCR Then Withdraws Rating
RESOLUTE ENERGY: Incurs $14.6 Million Net Loss in Third Quarter
RIVERSTONE UTOPIA: S&P Rates 2024 $225MM Term Loan B 'BB-'
SCIENTIFIC GAMES: Posts $768.9 Million Revenue in Third Quarter
SCOTT SWIMMING: May Use Cash Collateral Until Nov. 30

SEARS HOLDINGS: Has Deal With PBGC to Further Fund Pension Plans
SENIOR OAKS: US Trustee Directed to Appoint Patient Care Ombudsman
SENTRIX PHARMACY: Seeks February 14 Exclusivity Periods Extension
SHATTUCK-ST. MARY'S SCHOOL: S&P Raises 2015A-B Bonds Rating to BB+
SILO CITY: Plan Filing Deadline Extended to December 6

SINOVAC BIOTECH: Receives Nasdaq Delisting Determination Letter
SM COMMERCIAL: Idaho Court Dismisses WF's Claim for Deficiency
SPANISH BROADCASTING: Unit Will Sell New York Building for $14M
SUPERVALU INC: Activist Could Accelerate Change, Fitch Says
THINK FINANCE: Has Interim OK To Use Cash; Hearing on Nov. 20

TREEHOUSE FOODS: Moody's Affirms Ba2 CFR; Outlook Remains Neg.
TREEHOUSE FOODS: S&P Affirms BB CCR on Extended Credit Facilities
UNISYS CORP: Egan-Jones Cuts Sr. Unsecured Ratings to B
VITARGO GLOBAL: Wants to Continue Cash Use Through Jan. 31, 2018
WERNER FINCO: S&P Assigns Then Withdraws 'B' Corp Credit Rating

WEST TEXAS BULLDOG: Wants to Continue Using Cash Collateral
WESTERN DIGITAL: Egan-Jones Cuts Sr. Unsec. Ratings to BB
ZEBRA TECHNOLOGIES: Egan-Jones Hikes Sr. Unsec. Ratings to B-
ZENITH MANAGEMENT: Hearing on Plan Outline Set for Dec. 7
[^] Recent Small-Dollar & Individual Chapter 11 Filings


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1098 BLUE HILL: Wants to Use Cash Collateral Through March 15, 2018
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1098 Blue Hill Avenue LLC seeks permission from the U.S. Bankruptcy
Court for the District of Massachusetts to use for the period of
Nov. 15, 2017, through March 15, 2018, cash collateral of Bayview
Loan Servicing, LLC, which holds a first mortgage on the Debtor's
commercial real estate at 1098-1106 Blue Hill Avenue, Boston,
Massachusetts.

As of the filing date, the balance due to the Bank is approximately
$750,000.

The Debtor seeks to collect monthly rental income from the real
estate.  The Debtor will value the real estate in its schedules at
$1,725,000.

The Bank is asserting a security interest in the rental income.

On the 15th day of each calendar month from Nov. 15, 2017, through
March 15, 2018, the Debtor seeks authority to pay to the Bank a
monthly payment of $8,500 pursuant to the budget for the period of
Nov. 15 through March 15.  The payment will be as adequate
protection for the Debtor's usage of the monthly rental income
claimed by the Bank as its collateral pursuant to the loan
documentation between the parties.  There will be a 15-day grace
period for each monthly payment due hereunder.

As adequate protection for the position of the Bank, the Debtor
seeks authority to grant to the Bank a rollover lien in the rental
income generated by the real estate.

In compliance with MLBR 4001-2(a), the Debtor says:

     (1) the Debtor requires the use of all its income generated
         by this real estate on a monthly basis;

     (2) the rental proceeds will be used to pay day to day
         current operating expenses for the real estate including
         insurance, taxes and water and sewer that are necessary
         for the preservation of the real estate;

     (3) the amount of debt owed to the creditor claiming an
         interest in the collateral is as follows:

         (a) Bayview Loan Servicing in the approximate amount of
             $750,000; and

         (b) Luc Dumomay in the amount of $225,000; and

     (5) the value of the collateral in its present condition will

             be scheduled as $1,725,000.

The Debtor says that expedited consideration of this motion prior
to Nov. 15, 2017, is requested since rental income will be paid in
early November 2017 and disbursement will need to be made by
mid-November, 2017.

A copy of the Debtor's request is available at:

            http://bankrupt.com/misc/mab17-13836-12.pdf

                  About 1098 Blue Hill Avenue

Based in Boston, Massachusetts, 1098 Blue Hill Avenue LLC is a
single asset real estate as that term is defined in 11 U.S.C.
Section 101(51B).

1098 Blue Hill Avenue LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Mass. Case No. 17-13836) on Oct. 17,
2017.  Joseph D. Jeudy, its manager, signed the petition.

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

Judge Frank J. Bailey presides over the case.


199 REALTY: DOJ Watchdog Seeks Appointment of Ch. 11 Trustee
------------------------------------------------------------
According to a notice, acting U.S. trustee Andrew R. Vara will move
before the Honorable Vincent F. Papalia of the U.S. Bankruptcy
Court for the District of New Jersey for an order appointing a
chapter 11 trustee or, in the alternative, converting the case to a
case under chapter 7 and for such other and further relief as the
Court deems just and appropriate.

Any papers in opposition to the motion must be filed with the Court
and served upon the acting United States Trustee in accordance with
the Local Rules.

                  About 199 Realty Corp.

199 Realty Corp. filed a Chapter 11 petition (Bankr. D. N.J. Case
No. 13-14776) on March 7, 2013, and is represented by Morris S.
Bauer, Esq., in Bridgewater, New Jersey.

At the time of filing, the Debtor had $1,000,001 to $10,000,000 in
estimated assets and $1,000,001 to $10,000,000 in estimated debts.

A copy of the Company's list of its eight largest unsecured
creditors, filed together with the petition, is available for free
at http://bankrupt.com/misc/njb13-14776.pdf  

The petition was signed by Lawrence S. Berger, president.

Affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
400 Blair Realty Holdings, LLC         11-37887   09/23/11
Alsol Corporation                      13-12689   02/11/13
Berley Associates, Ltd.                12-32032   09/05/12
Kirby Avenue Realty Holdings, LLC      13-14056   02/28/13
Route 88 Office Associates, Ltd.       12-32431   09/11/12
S B Building Associates LP             13-12682   02/11/13
SB Milltown Industrial Realty
  Holdings, LLC                        13-12685   02/11/13
Somerset Thor Building Realty
  Holdings, LP                         13-12660   02/11/13


309 BARONNE: Plan Filing Deadline Pushed Back
---------------------------------------------
Judge Jerry A. Brown of the U.S. Bankruptcy Court for the Eastern
District of Louisiana entered an Order on November 6, 2017,
granting 309 Baronne St., L.L.C a second extension of time through
November 8, 2017, in which to file the Disclosure Statement and
Chapter 11 Plan of Reorganization.

The Troubled Company Reporter has previously reported that the
Debtor sought an additional 30-day extension to submit a Chapter 11
Plan of Reorganization and Disclosure Statement because its Manager
is awaiting a decision on a property insurance claim with Allstate
Insurance, which has not yet been rendered.

The Debtor said it has reached a stipulation with its secured
lender, Crescent Bank and Trust, for adequate protection which was
entered on October 5, 2017. Also, the Debtor's Manager has a
meeting scheduled with regard to certain possible post-petition
funding. As such, the Debtor wanted to allow further discussions to
take place with its secured lender Crescent Bank.

On November 8, 2017, the Debtor filed its Chapter 11 Financial
Reports for the months of September and October 2017.

                  About 309 Baronne St., L.L.C.

309 Baronne St., L.L.C., based in New Orleans, Louisiana, filed a
Chapter 11 petition (Bankr. E.D. La. Case No. 17-10888) on April
10, 2017.  Markus E. Gerdes, Esq., at Gerdes Law Firm, L.L.C.,
serves as bankruptcy counsel.  The Debtor hired the Law Firm of Ron
Austin & Associates, L.L.C., as special counsel.

In its petition, the Debtor estimated $1 million to $10 million in
assets and $100,001 to $500,000 in liabilities.  The petition was
signed by Harry E. Cantrell, Jr., managing member.


419 SW 2ND AVENUE: Wants to Use Cash & Pay Critical Vendors
-----------------------------------------------------------
419 SW 2nd Avenue, LLC, asks the U.S. Bankruptcy Court for the
Southern District of Florida to authorize the Debtor to use cash
collateral and to approve payments to critical vendors and parties.
The Debtor requests that the Court conduct a hearing on the cash
collateral use on Nov. 7, 2017.

As reported by the Troubled Company Reporter on Oct. 17, 2017, the
Debtor sought court authorization to use cash collateral for the
necessary repair of the property, and in order to operate its
business and pay necessary expenses.  Hutton Ventures, LLC, made a
loan to the Debtor in the original principal amount of $1,050,000,
secured by a certain Mortgage, Collateral Assignment of Lease,
Rents, and Licenses.  As part of the Loan transaction, Jose
Paradelo and Arthur Seidt (now deceased) executed a Payment
Guaranty in favor of Hutton.  Hutton Ventures asserts a first
priority, perfected lien on all of the Debtor's cash generated from
the operation, sale, disposition or other realization of any of its
assets.

The Debtor owns a 22-unit building and is currently considered a
condemned property by the City of Homestead post hurricane Irma as
it has sustained severe damages and poses danger to anyone
occupying the premises.  According to the Debtor, the building
needs to be boarded up immediately before it becomes an attractive
nuisance to general public (children in the neighborhood) and wild
life.  Absent the ability to use cash collateral the Debtor will
not be able to board up the property, consequentially the Debtor
will incur liabilities in the forms of fines imposed by the City of
Homestead and may incur further liabilities if anyone gets injured
on the premises.  The Debtor requests that the Court wave the
provisions of Local Rule 9075-1(B), which requires an affirmative
statement that a bona fide effort was made in order to resolve the
issues raised in this motion, as the relief requested is urgent in
nature and does not lend itself to advance resolution.

The Debtor and the Secured Lender have agreed to allow the use of
cash collateral solely for the use of boarding up the premises.
The Debtor and the Secured Lender have not been able to reach a
resolution regarding the usage of cash for other items requested;
however, the Debtor is hopeful that a resolution can be reached.

The Debtor's assets, which includes the underlying real estate
property, together with personal property, is valued at
approximately $530,000 by Miami-Dade tax appraiser, subject to
further appraisal by an independent licensed professional.

The Secured Lender has a first priority, perfected lien on all of
Debtor's cash generated from the operation, sale, disposition or
other realization of any assets or property of the Debtor, wherever
located, which constitutes cash collateral as defined in Section
363 of the U.S. Bankruptcy Code.  Absent the relief requested, the
Debtor will not have use of the cash necessary to repair the
property, to preserve and protect the value of said property, or to
operate its business and pay necessary expenses.  The Debtor says
that the success of this Chapter 11 case and the stabilization of
the Debtor's operation and business at the outset depend upon the
Debtor's ability to continue to fund the operation of its business
and permit it to immediately repair the property and to meet other
operating expenses, as well as the Debtor's ability to preserve the
going concern value of its business.

Absent the ability to use cash collateral, the Debtor won't be able
to board up the condemned property and as a result an immediate and
irreparable harm will be caused to Debtor and the estate, may incur
further liability to individuals, especially children, that become
attracted to the nuisance and get injured on the premises and the
value of the subject real estate will not be preserved.  Moreover,
the Debtor's operations will come to a halt and parties in interest
will be severely prejudiced.  In contrast, approval of the use of
cash collateral on an interim basis will ensure the operation of
Debtor's business and allow for an orderly reorganization.

A copy of the Debtor's Motion is available at:

            http://bankrupt.com/misc/flsb17-21784-28.pdf

                      About 419 SW 2nd Avenue

419 SW 2nd Avenue, LLC, a single asset real estate as defined in 11
U.S.C. Section 101(51B), owns and manages a 22-unit rental building
located at 419 SW 2nd Avenue Homestead, Florida.

The Debtor filed a Chapter 11 petition (Bankr. S.D. Fla. Case No.
17-21784) on Sept. 27, 2017.  The petition was signed by Jose
Paradelo, managing member.  At the time of filing, the Debtor
estimated less than $1 million in assets and $1 million to $10
million in liabilities.


500 NORTH: May Use Cash Collateral Through January 2018
-------------------------------------------------------
The Hon. Ann M. Nevins of the U.S. Bankruptcy Court for the
District of Connecticut has entered a 20th interim order
authorizing 500 North Avenue, LLC, to use cash collateral of Manual
Moutinho, Trustee for Mark IV Construction Co Inc. 401(k) Savings
Plan, from November 2017 through January 2018.

A further hearing on the Motion has been scheduled for Jan. 24,
2018, at 10:00 a.m.

In exchange for the preliminary use of cash collateral by the
Debtor, and as adequate protection for Secured Creditor's interests
therein, the Secured Creditor is granted replacement and substitute
liens, and the replacement liens will have the same validity,
extent, and priority that the Secured Creditor possessed as to the
liens on the Petition Date.

A copy of the court order is available at:

           http://bankrupt.com/misc/ctb14-31094-546.pdf

As reported by the Troubled Company Reporter on Aug. 9, 2017, the
Court entered a 19th interim order authorizing the Debtor to use
cash collateral from Aug. 1, 2017, through Oct. 31, 2017.

                   About 500 North Avenue

500 North Avenue, LLC, and Long Brook Station, LLC, filed Chapter
11 petitions (Bankr. D. Conn. Case Nos. 14-31094 and 14-31095) on
June 6, 2014.  The petitions were signed by Joseph Regensburger,
member.

At the time of filing, 500 North Avenue estimated $1 million to $10
million in assets and $10 million to $50 million in liabilities;
and Long Brook Station estimated $500,000 to $1 million in assets
and $1 million to $10 million in liabilities.

The cases are assigned to Judge Julie A. Manning.

The Debtors are represented by Douglas S. Skalka, Esq., at Neubert,
Pepe, and Monteith, P.C.


800 BOURBON: Directed to Release $1.6MM from Escrow to Bay Bridge
-----------------------------------------------------------------
The case captioned 800 BOURBON STREET, L.L.C. Plaintiff, v. BAY
BRIDGE BUILDING LIMITED COMPANY, L.L.C., Defendant, Adversary No.
15-1052 (Bankr. E.D. La.) has been the subject of exhaustive
litigation.  The questions for consideration concern a
determination of the proper application of one large payment in
2005 and whether or not the $110K and $90K Notes are secured.
These two issues have significance because depending on the
outcome, 800 Bourbon will pay more or less to Bay Bridge.

Upon evaluation, Judge Elizabeth W. Magner of the U.S. Bankruptcy
Court for the Eastern District of Louisiana rules in favor of
Defendant Bay Bridge Building Limited Company, L.L.C.

800 Bourbon's position seeks to reduce the balance owed on the
$1.2M Note in preference to all others on the theory that the other
Notes are unsecured. If unsecured, then the amount due to Bay
Bridge from the estate will be substantially reduced as Bay
Bridge's debt is only payable to the extent the debt is secured by
its collateral.

800 Bourbon Street, L.L.C. is a closely held company. In 2005,
Johnny Chisholm and Doyle Yeager were its sole members. In the
spring of that year, Chisholm had the opportunity to purchase the
name and production rights to a series of events mounted in
Orlando, FL every June ("Gay Days"). In April of 2005, Chisholm
approached Bay Bridge Building Limited Company, L.L.C. to finance
the purchase. Bay Bridge agreed. The purchaser was Chisholm's
company, Chisholm Properties Circuit Events, L.L.C. However,
because Circuit Events had no assets to secure the loan, Chisholm
offered 800 Bourbon as the borrower, and 800 Bourbon's real
property in the French Quarter of New Orleans as collateral.

According to Chisholm's testimony, a series of unfortunate events
caused Gay Days to be less successful than he anticipated. Weather
and a national financial downturn conspired to reduce attendance
and ticket sales. As a result, Circuit Events was unable to make
the required payments owed under the notes. When Bay Bridge elected
to enforce collection, 800 Bourbon filed for bankruptcy protection
the first time.

In 2009, 800 Bourbon confirmed a plan of reorganization. Contained
within the plan were negotiated repayment terms for the Bay Bridge
debt.

The subject of this litigation is whether or not Bay Bridge
properly applied the single $300,000 payment in July of 2005 and
whether or not the $200,000, $110,000, and $90,000 loans are
secured by the Collateral Mortgage and Collateral Mortgage Note.

The Court finds that the 2009 Plan granted 800 Bourbon 60 days
post-confirmation to object to Bay Bridge's 2008 Claim, but 800
Bourbon chose not to object. Thus, whether or not the $110K and
$90K Notes were secured in 2006, they were made secured by
agreement of the parties and the confirmed 2009 Plan. As a result,
the Court finds that the $110K and $90K Notes are secured.

Although facts sufficient to raise the potential challenge to
secured status and the application of payment were known to 800
Bourbon prior to confirmation of the 2009 Plan, 800 Bourbon
provided for both Bay Bridge's calculation of debt and secured
status in the 2009 Plan. A confirmation order can only be revoked
within 180 days of its signing and only if it was procured by
fraud, and no fraud has been proven. For these reasons, the Court
concludes that 800 Bourbon waived any claim to reamortize the
obligation owed to Bay Bridge in 2009. But even if a challenge were
allowed, the Court holds that the methodology of application would
make no difference to the secured obligations owed by 800 Bourbon
in this case.

The Court concludes that the $90K and $110K Notes are secured. The
application of the $300,000 payment and secured status of the Bay
Bridge obligation were accepted by 800 Bourbon as part and parcel
of the 2009 Plan and cannot be challenged. Accordingly, Bay Bridge
has an allowed secured claim in the amount of $1,649,000. 800
Bourbon will release those funds from escrow to Bay Bridge.

The bankruptcy case is in re: 800 BOURBON STREET, L.L.C., Chapter
11, Debtor, Case No. 14-12770 (Bankr. E.D. La.).

A full-text copy of Judge Magner's Memorandum Opinion dated Oct.
31, 2017, is available at https://is.gd/LWCtdO from Leagle.com.

800 Bourbon Street, LLC, Debtor, represented by Alicia M. Bendana,
Mark S. Goldstein -- mgoldstein@reedsmith.com -- Catherine E. Lasky
-- klasky@laskymurphy.com -- Lasky Murphy LLC & Kerry Murphy --
kmurphy@laskymurphy.com -- Lasky Murphy LLC.

                  About 800 Bourbon Street

800 Bourbon Street LLC, based in New Orleans, LA, filed a Chapter
11 petition (Bankr. E.D. La. Case No. 14-12770) on October 15,
2014.  The Hon. Elizabeth W. Magner presides over the case.
Christopher T. Caplinger, Esq. and Stewart F. Peck, Esq. at
Lugenbuhi, Wheaton, Peck, Rankin & Hubbard served as bankruptcy
counsel.

In its petition, the Debtor estimated $1 million to $10 million in
both assets and liabilities.  The petition was signed by Bobby
Warner, member.


ADVANCED DISPOSAL: S&P Ups CCR to BB- on Reduced Sponsor Ownership
------------------------------------------------------------------
S&P Global Ratings raised its corporate credit rating on Advanced
Disposal Services Inc. (ADS) to 'BB-' from 'B+'. The outlook is
stable.

S&P said, "At the same time, we raised our issue-level rating on
ADS' senior secured credit facility (which consists of a $300
million revolving credit facility due in 2021 and $1.5 billion term
loan B due in 2023) by one notch to 'BB+' from 'BB'. The recovery
rating on the senior secured credit facilities remains '1',
indicating very high (90%-100%; rounded estimate: 95%) recovery in
the event of a payment default. We also raised our issue-level
rating on the company's $425 million of senior unsecured notes due
in 2024 to 'B' from 'B-'. The recovery rating on the notes remains
'6', indicating our expectation for negligible (0%-10%; rounded
estimate: 0%) recovery in the event of a payment default.

"The upgrade reflects our expectation that ADS will continue to
reduce its debt-to-EBITDA metric below 5x in the next 12 months and
that the company's financial policy decisions will support this
leverage. The company completed $122 million in acquisitions this
year, and although acquisition spending is higher than previously
forecasted, we expect the company to deleverage to the low-5x area
by the end of 2017 on continued good organic revenue growth,
contributions from these acquisitions, and amortization under the
company's term loan. Over the next 12 months, we expect acquisition
spending to moderate to about $50 million, which we believe will
supplement our forecast for low-single-digit percentage organic
revenue growth. As a result, we expect the company will deleverage
further to the high-4x area in 2018. Although a reduction in
acquisition spending next year could give the company additional
flexibility to use cash flow for debt repayment, we do not believe
that the company is likely to make financial decisions that drive
leverage below 4.5x, which forms the basis of our negative
financial policy assessment.

"The stable outlook on ADS reflects our expectation that EBITDA
contribution from acquisitions completed during 2017 and organic
growth will allow the company to reduce its leverage ratio below 5x
and sustain its FFO-to-debt ratio above 12% over the next 12
months.

"We could lower our ratings on ADS by one notch if the company's
operating performance declines due to difficulty integrating
acquisitions such that debt to EBITDA remains above 5x with limited
prospects for improvement. We could also lower our ratings if the
company pursues large debt-financed acquisitions or shareholder
returns that increase leverage above 5x on a sustained basis.

"We could raise our ratings on ADS if the company reduces leverage
below 4.5x on a sustained basis. We would also have to believe that
the company is committed to financial policies (particularly around
potential acquisitions) that support this level of leverage."


AMERICAN AIRLINES: Term Loan Re-pricing No Impact on Fitch BB- IDR
------------------------------------------------------------------
Fitch Ratings does not expect the planned re-pricing of American
Airlines, Inc.'s senior secured term loan B, due in December of
2023, to impact the ratings of the company or the loan. American's
Long-Term Issuer Default Rating (IDR) is 'BB-'/Outlook Stable.
Fitch rates the term loan 'BB+/RR1'.

American is in the process of re-pricing its existing $1.25 billion
term loan B due in 2023. The facility is secured by takeoff and
landing slots at Washington Reagan Airport and LaGuardia, along
with certain flight simulators and leasehold interests in certain
real estate. The re-pricing will not affect the key provisions, the
collateral, or the maturity of the loan.

The 'BB+/RR1' rating on the term loan is based on Fitch's recovery
analysis, which reflects a scenario in which a distressed
enterprise value is allocated to the various debt classes in a
going-concern scenario (which Fitch considers the most likely). The
'RR1' Recovery Rating reflects Fitch's belief that secured
creditors would receive superior recovery based on an estimate of
American's distressed enterprise value. In a going-concern
scenario, recovery values are supported by the underlying
collateral's importance to American Airlines Group, Inc. (AAL).

American's 'BB-' Long-Term IDR is supported by the company's market
position as the largest airline in the U.S., its dominant position
in key hubs, and by the solid financial results the company has
produced since emerging from bankruptcy and merging with US Airways
in December 2013. Credit metrics have been pressured this year by
higher fuel and labor costs and by an intense competitive
environment that has kept unit revenue growth modest. However,
Fitch expects metrics to improve in 2018 and beyond as cost
pressures ease and capital spending moderates, bringing credit
metrics to a level that is solidly supportive of the rating.

AAL's sizable liquidity balance is also a credit positive. As of
Sept. 30, 2017, AAL had a total unrestricted cash and short-term
investments balance of $5.8 billion plus $2.5 billion in undrawn
revolver capacity, equal to 20% of LTM revenue.  

The 'BB-' rating also incorporates the risks in American's credit
profile, including a significant debt balance and expectations for
leverage to be somewhat high for the rating over the next year or
two, heavy capital requirements in 2017, rising wages, and
shareholder-focused cash deployment.

Fitch currently rates American as follows:

American Airlines Group Inc.
-- Long-Term IDR 'BB-';
-- Senior unsecured notes 'BB-/RR4'.

American Airlines, Inc.
-- Long-Term IDR 'BB-';
-- Senior secured credit facilities 'BB+/RR1'.


ARISTOCRAZY LLC: Chapter 727 Claims Bar Date Set for Jan. 18
------------------------------------------------------------
A Petition commencing an Assignment for the Benefit of Creditors
was executed on behalf of Aristocrazy, LLC., as Assignor, on Sept.
20, 2017, pursuant to Chapter 727, Florida Statutes, to Marc P.
Barmat, as Assignee.

To receive any dividend in this proceeding, parties-in-interest
must file a proof of claim with the assignee or the assignee's
attorney on or before January 18, 2018.

The case is, In re: ASSIGNMENT FOR THE BENEFIT OF CREDITORS OF
ARISTOCRAZY, LLC, Assignor, To: MARC P. BARMAT, Assignee, IN THE
CIRCUIT COURT OF THE 11TH JUDICIAL CIRCUIT IN AND FOR MIAMI-DADE
COUNTY, FLORIDA CIVIL DIVISION, CASE NO. 2017-022424-CA-01.

Aristocrazy has its principal place of business at Aventura Mall,
Room No. 1353, 19575 Biscayne Boulevard, Miami, FL 33180.

The Assignee may be reached at:

     Marc P. Barmat
     FURR COHEN
     2255 Glades Road, Suite 337W
     Boca Raton, FL 33431

Attorney for Assignee:

     Alan R. Crane, Esq.
     Marc P. Barmat, Esq.
     FURR COHEN
     2255 Glades Road, Suite 337W
     Boca Raton, FL 33431
     Telephone: (561) 395-0500
     E-mail: acrane@furrcohen.com
             pmouton@furrcohen.com


ASPEN COURT: May Use Cash Collateral Through Dec. 31
----------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois has
entered an interim order authorizing Aspen Court, LLC, to use cash
collateral during the period Nov. 1, 2017, through Dec. 31, 2017.

A final hearing on the cash collateral use is scheduled for Dec.
20, 2017, at 10:30 a.m.

In return for the Debtor's use of cash collateral, Soy Capital
Bank, Old Second Bank, Commerce Bank and Heartland Bank are granted
adequate protection for their purported secured interests in the
property of the Debtor:

     1. the Debtor will permit the lenders to inspect, upon
        reasonable notice, within reasonable hours, the Debtor's
        books and records;

     2. the Debtor will maintain and pay premiums for insurance to

        cover all of its assets from fire, theft and water damage,

        will name Lenders as loss payees and mortgagees on such
        insurance policies as provided in the respective pre-
        petition loan documents and will provide copies of
        insurance policies, or endorsements as reasonably
        requested by any lender;

     3. the Debtor will, upon reasonable request, make available
        to the lenders evidence of that which constitutes their
        collateral or proceeds;

     4. the Debtor will properly maintain its assets in good
        repair and properly manage its business; and

     5. the lenders are granted valid, perfected, enforceable
        security interests in and to Debtor's post-petition
        assets, including all proceeds and products which are now
        or hereafter become property of this estate to the extent
        and priority of their alleged pre-petition liens, if
        valid, but, for any lender, only to the extent of any
        diminution in the value of the lender's collateral during
        the period from the commencement of the Debtor's Chapter
        11 case through Dec. 31, 2017.

A copy of the court order is available at:

           http://bankrupt.com/misc/ilnb17-16064-72.pdf

As reported by the Troubled Company Reporter on Nov. 7, 2017, the
Court was scheduled to convene a hearing on Nov. 29, 2017, at 10:00
a.m. to consider the Debtor's sale of the real properties commonly
known as 324-330 Wigwam Hollow Road, Macomb, Illinois and 1517-1531
West Jackson Street, Macomb, Illinois and the rents generated
therefrom, which Old Second National Bank asserts a first mortgage
interest.

                        About Aspen Court

Aspen Court, L.L.C. -- http://www.aspencourtwiu.com/-- owns an
apartment community located at 1507 W. Jackson Street Macomb,
Illinois 61455, with four convenient locations within walking
distance to the Western Illinois University Campus.  Aspen Court
offers floor plans that accommodate all types of residents.  It is
the only apartment community in Macomb to offer 1, 2, and 3 bedroom
apartments and 4 bedroom townhomes.  Each apartment has a bathroom
for every bedrooom!  Its complex has just recently been constructed
and contains all of the newest construction and communication
technology.  Every apartment comes with High-Speed Fiber Optic
Internet included with data jacks in every bedroom and living
room.

Aspen Court filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Ill. Case No. 17-16064) on May 24, 2017, estimating its assets and
liabilities at between $10 million and $50 million each.  The
petition was signed by Jonathan Sauser as member and designated
representative.

Judge Timothy A. Barnes presides over the case.

David K Welch, Esq., at Crane, Heyman, Simon, Welch & Clar, serves
as the Debtor's bankruptcy counsel.


AVON PRODUCTS: Egan-Jones Lowers Commercial Paper Ratings to B
--------------------------------------------------------------
Egan-Jones Ratings Company, on August 21, 2017, lowered the foreign
currency and local currency commercial paper ratings on Avon
Products Inc. to B from A3.

Avon Products, Inc. is an American international manufacturer and
direct selling company in beauty, household, and personal care
categories.


BAILEY'S EXPRESS: May Use Up to $52,166 of Cash Until Nov. 25
-------------------------------------------------------------
The Ann M. Nevins of the U.S. Bankruptcy Court for the District of
Connecticut has entered a fifth interim order authorizing Bailey's
Express, Inc., to use up to $52,166 of cash collateral until Nov.
25, 2017, at 5:00 p.m.

A hearing to consider the use of cash collateral is scheduled for
Nov. 22, 2017, at 10:00 a.m.

As adequate protection for any cash collateral expended by the
Debtor, Bankwell Bank is granted a first lien to secure an amount
of Bankwell's prepetition claims equal to (i) the amount of cash
collateral actually expended by the Debtor and (ii) an amount
equaling the aggregate decline in the value of the Bankwell
prepetition collateral (whether as a result of physical
deterioration, consumption, use, shrinkage, decline in market value
or otherwise).  

In addition to the Replacement Lien, Bankwell will have a priority
claim in an amount equal to the amount of cash collateral actually
expended by Debtor, which claim will have the highest
administrative priority under Sections 503(b), 507(a)(1) and 507(b)
of the U.S. Bankruptcy Code, and the claim will have priority over,
and be senior to, all other administrative claims.

As adequate protection for any cash collateral expended by the
Debtor, SAIA, Inc., is granted, pursuant to Sections 361(1) and
363(e) of the Bankruptcy Code, a lien, subordinate to the security
interests held by Bankwell, on the DIP collateral, but only to the
extent that SAIA successfully establishes that SAIA is entitled to
impose an interline trust on cash collected by the Debtor.

If Debtor at any time seeks any third-party financing, and in
connection with the financing requests that the Court grant or
impose, under Section 364 of the Bankruptcy Code or otherwise,
liens with a priority equal to or superior to the Bankwell
prepetition liens or the Replacement Liens, the Debtor will be
required to use the first available proceeds of any financing to
repay Bankwell the full amount of any cash collateral expended
pursuant to the court order.

From and after the date of entry of the court order, until further
order of the Court, all collections of accounts receivable customer
checks, bank deposits, cash collateral and all proceeds of sales of
any assets or services provided by the Debtor and all other cash
which will come into the Debtor's possession or control, or to
which the Debtor will become entitled, will be deposited into one
or more debtor in possession operating and payroll accounts.

A copy of the court order is available at:

           http://bankrupt.com/misc/ctb17-31042-167.pdf

As reported by the Troubled Company Reporter on Oct. 20, 2017, the
Court entered a fourth interim order authorizing the Debtor to use
up to $113,821 of cash collateral of Bankwell Bank until Oct. 28,
2017, at 5:00 p.m.

                   About Bailey's Express

Headquartered in Middletown, Connecticut, Bailey's Express --
http://www.baileysxpress.com/-- is a Connecticut-based less than
truckload carrier.  It provides service across the nation and is
dedicated in helping Connecticut, Massachusetts and Rhode Island
companies market their products throughout the U.S. including
Hawaii and Alaska.  It has distribution points in Charlotte,
Dallas, Denver, Easton, Fontana, Indianapolis, Jacksonville,
Memphis, Neenah, Phoenix, Salt Lake City and Toledo.  It also
provides service to Mexico, Puerto Rico & Canada.

Bailey's Express filed for Chapter 11 bankruptcy protection (Bankr.
D. Conn. Case No. 17-31042) on July 13, 2017, estimating its assets
and liabilities at between $1 million and $10 million.  The
petition was signed by David Allen, chief financial officer.

Judge Ann M. Nevins presides over the case.

Elizabeth J. Austin, Esq., and Jessica Grossarth Kennedy, Esq., at
Pullman & Comley, LLC, serves as the Debtor's bankruptcy counsel.

No creditors' committee has yet been appointed in the case.


BELLA ROSE: Has Interim Approval to Use Cash Collateral
-------------------------------------------------------
The Hon. Daniel S. Opperman of the U.S. Bankruptcy Court for the
Eastern District of Michigan has entered an interim order
authorizing Bella Rose Skin Care PLLC's use of cash collateral.

This interim court order will become a final order automatically
unless objections are received within 14 days of the Oct. 30, 2017
court order.  Should any objections be filed, the Court will
conduct a hearing on Nov. 20, 2017, at 1:30 p.m.

As reported by the Troubled Company Reporter on Oct. 27, 2017, the
Debtor sought court authorization to use cash collateral in order
to maximize the value of its inventory and pay its necessary
operating expenses.  The Debtor requires the interim use of cash
collateral in the amount of up to $15,000 through Nov. 30, 2017.
The Debtor believes that only Retail Capital LLC and Yellowstone
Capital LLC have interest in its cash collateral.  Retail Capital
asserts a lien in the amount of $43,472 and Yellowstone Capital
asserts a lien in the amount of $60,216.

To continue the operation of its business, the Debtor represented
to the Court that it must use cash to pay its continuing
obligations incurred in the ordinary course of its business.

The Debtor agrees to use only that amount of cash collateral as is
necessary to pay the necessary expenses of its business to avoid
immediate and irreparable harm to the estate, and for the costs of
administration of its estate pursuant to the court order.

The Debtor will keep all the Lenders' collateral insured against
loss or damage resulting from fire, flood or other hazards,
casualties and contingencies.

The Debtor will deposit all cash acquired post‐petition into the
DIP account.

The Lenders will be granted a replacement lien in the inventory in
the nature and to the extent of their prepetition liens.  The
Debtor will keep inventory value at approximately $10,000 during
the pendency of this case.

A copy of the court order is available at:

            http://bankrupt.com/misc/mieb17-22144-19.pdf

                    About Bella Rose Skin Care

Headquartered in Alpena, Michigan, Bella Rose Skin Care PLLC is a
Michigan limited liability company which was formed for the purpose
of operating a wellness center.  

The Debtor filed for Chapter 11 bankruptcy protection (Bankr. E.D.
Mich. Case No. 17-22144) on Oct. 24, 2017, estimating its assets
and liabilities at between „$100,001 and $500,000.  Adam Daniel
Bruski, Esq., at Warner Norcross & Judd LLP serves as the Debtor's
bankruptcy counsel.


BERNSOHN & FETNER: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Bernsohn & Fetner LLC
        12 Van Houten Street
        Upper Nyack, NY 10960
        Tel: 914-584-4071

Type of Business:     Bernsohn & Fetner, LLC --
                      http://www.bfbuilding.com/about/-- is a
                      full-service construction management and
                      general contracting firm dedicated to
                      residential, corporate, and retail
                      construction.  In addition, Bernsohn &
                      Fetner offers a maintenance service which
                      does all of the maintenance for major New
                      York buildings.  The company was founded in
                      2003 by Steven Fetner and Randall Bernsohn.
                      As of the Petition Date, the company had no
                      secured debt.

Case No.: 17-23707

Chapter 11 Petition Date: November 7, 2017

Court: United States Bankruptcy Court
       Southern District of New York (White Plains)

Judge: Hon. Robert D. Drain

Debtor's Counsel: David Henry Hartheimer, Esq.
                  MAYERSON & HARTHEIMER, PLLC
                  845 Third Avenue, 11th Floor
                  New York, NY 10022
                  Tel: 646-778-4381
                  Fax: 501-423-8672
                  E-mail: david@mhlaw-ny.com

Total Assets: $1,735,000

Total Liabilities: $920,000

The petition was signed by Steven Fetner, managing member.

A full-text copy of the petition, along with a list of 20 largest
unsecured creditors, is available for free at
http://bankrupt.com/misc/nysb17-23707.pdf


BLUE STAR: Court Approves Joint Amended Disclosure Statement
------------------------------------------------------------
Judge Thomas J. Catliota of the U.S. Bankruptcy Court for the
District of Maryland approved Blue Star Group, Inc. and its
affiliates' joint amended disclosure statement referring to their
joint plan of liquidation dated Oct. 19, 2017.

Nov. 28, 2017, is fixed as the last day of filing written
acceptances or rejections of the Plan.

Dec. 4, 2017, at 11:00 a.m. is fixed for the hearing on
confirmation of the Plan to take place in Courtroom 3E of the U.S.
Bankruptcy Court, U.S. Courthouse, 6500 Cherrywood Lane, Greenbelt,
Maryland.

Nov. 28, 2017, is fixed as the last day for filing and serving
written objections to confirmation of the Plan.

                   About Blue Star Group

Blue Star Group, Inc., Barwood, Inc., Checker Transportation
Company, Inc., City Lease, Inc., Fleet Tech, Inc., and Silver
Spring Transportation Company, each filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Lead
Case No. 16-26548) on Dec. 20, 2016.  The petitions were signed by
Lee Barnes, president. The cases are assigned to Judge Thomas J.
Catliota.

The Debtors are represented by Alan M. Grochal, Esq., Marissa K
Lilja, Esq., and Joseph Michael Selba, Esq., of Tydings &
Rosenberg, LLP.  The Debtors hired Suzanne Sparrow as financial
advisor, and SKMB, P.A., as accountant.

As of Dec. 31, 2015, the Debtors and certain non-debtor driver
partners had approximately $4.5 million in assets and approximately
$5.4 million in liabilities.  The Debtors have 57 employees as of
the bankruptcy filing.

In its petition, Blue Star Group listed under $50,000 in assets and
under $10 million in liabilities. Barwood Inc. listed under $10
million in assets, and under $500,000 in liabilities. Fleet Tech
listed under $100,000 in both assets and liabilities.

The Office of the U.S. Trustee on Jan. 23, 2017, disclosed in a
court filing that no official committee of unsecured creditors has
been appointed in the Chapter 11 cases of Blue Star Group, Inc. and
its affiliates.


BNOIS SPINKA: To Dissolve & Wind Up Remaining Affairs
-----------------------------------------------------
Presidential Bank, FSB, filed with the U.S. Bankruptcy Court for
the Eastern District of New York a fifth amended disclosure
statement dated Oct. 23, 2017, referring to the plan of liquidation
for Bnois Spinka.

Class 7 General Unsecured Claims -- estimated at $6.2 million --
are impaired by the Plan.  Class 7 Claims shall be paid Pro Rata
out of available funds only after payment of Class 1, 2, 3, 4, 5
and 6 Claims in full.  It is estimated that Class 5 Claims will be
paid between 39% and 100% of their claims.

The Plan will be funded by cash proceeds from ongoing operations of
the Debtor, the sale of assets, recoveries of causes of action and
avoidance actions, and exit financing.  The exit financing will be
secured by a first priority priming lien on the Fallsburg Property,
the Wallabout Property, and all personal property of the Debtor
(excluding the Kent Property).  The Exit Financing will be
subordinate to the recorded life estates of (i) Charles Freilick
and Rita Freilick related to Bungalow No. 29 and (ii) Charles
Freilick and Kenneth Larson in and for the Garage Barn, that may
exist on the Fallsburg Property.  A sale of the Fallsburg Property
under the Plan will be subject to the recorded life estates of (i)
Charles Freilick and Rita Freilick related to Bungalow No. 29 and
(ii) Charles Freilick and Kenneth Larson in and for the Garage
Barn, that may exist on the Fallsburg Property.

The Plan provides for the liquidation of the Debtor after the
Debtor's assets are appropriately marketed and sold.  The Plan
addresses disputes related to the Debtor's ownership of certain
property.  The Debtor's schools, synagogue, and summer camp will be
closed no later than 150 days after the Effective Date.  Nothing in
the Plan prohibits the Debtor's constituents and leaders from
continuing their religious work, teachings, and community service
elsewhere.

The Plan Administrator will market and offer for sale the Fallsburg
Property, Wallabout Property, Kent Property and all other assets
(other than cash) of the Debtor.  The Plan Administrator will
engage a broker, satisfactory to the Proponent in all respects, to
market the Assets.  All contracts for sale will be shared with the
holder of a secured claim on the asset to be sold under the
contract of sale, and the contract will be subject to its consent.
The Plan Administrator will not sell assets without consent.
Absent an arms' length sale of all assets on or before 150 days
after the Effective Date, the Plan Administrator will sell all
remaining assets at auction.  Bidding procedures will be included
in the Plan Supplement.  The Court's entry of the confirmation
order will constitute approval of the sale of the assets free and
clear of all liens, claims, encumbrances and interests, with such
liens, claims, encumbrances and interest attaching to the proceeds
of sale, provided however, a sale of the Fallsburg Property under
the Plan will be subject to the recorded life estates of (i)
Charles Freilick and Rita Freilick related to Bungalow No. 29 and
(ii) Charles Freilick and Kenneth Larson in and for the Garage
Barn, that may exist on the Fallsburg Property.

Presidential does not intend to pursue a title claim related to the
life estates, as the current title policy purchased by the Debtor
for the benefit of Presidential excludes the life estates from
coverage.  Further, Presidential submits that the life estates
likely have no adverse effect on the value of the Fallsburg
Property, as of the date the Debtor purchased the Fallsburg
Property.  That is because the Debtor purchased the Fallsburg
Property subject to the life estates.

During the period from the Confirmation Date through and until the
Effective Date, the Debtor may continue to operate its business as
debtor-in-possession, subject to the oversight of the Bankruptcy
Court, as provided in the U.S. Bankruptcy Code, the Bankruptcy
Rules, and all orders of the Court that are then in full force and
effect.

Pursuant to the Short Term Debtor Lease Agreements with the Plan
Administrator, the Debtor may continue to operate its religious
schools at the Wallabout Property and its summer camp at the
Fallsburg Property after the Effective Date through 150 days after
the Effective Date, in accordance with applicable law and with its
present management, officers and directors, provided however the
Debtor will provide (i) a budget for such operations period
supported by historical financial information, acceptable to the
Proponent in all respects, by no later than seven days prior to the
hearing on confirmation of the Plan and (ii) monthly operating
reports for each month of operations after the Effective Date due
on the 15th day of each month commencing the 15th day of the month
after the Effective Date.

The Debtor may continue to operate its religious school at the Kent
Property, subject to Cornell Realty's consent and the Court's
determination of whether the Kent Property is property of the
estate.  The Debtor's operations will cease and terminate,
effective 150 days after the Effective Date, and the Debtor will
immediately surrender all assets to the Plan Administrator and
vacate the Fallsburg Property, Wallabout Property and Kent
Property.

The Debtor will be liable to the proponent, other holders of
secured claims, the Plan Administrator and the Estate for any
diminution in the value of the properties caused by its operations
of the properties.

The Debtor will dissolve and wind up its remaining affairs
effective 150 days after the Effective Date, in accordance with the
Plan, its Certificate of Incorporation, and applicable law.
Nothing in the Plan prohibits the Debtor's constituents and leaders
from continuing their religious work, teachings, and community
service elsewhere.

On the Effective, the Plan Administrator will be appointed and
entry of the confirmation court order will constitute approval of
the appointment.  The Plan Administrator will be appointed as a
representative of the Estate pursuant to Section 1123(b) of the
Bankruptcy Code to carry out the provisions of the Plan and may
serve without bond.  The Plan Administrator will be paid reasonable
compensation for services related to implementation of this Plan.
The Plan Administrator and the terms and conditions of its
employment will be disclosed no later than seven days prior to the
voting deadline.

The Debtor has objected to confirmation of the Plan on various
grounds.  The Debtor's objections include objections to many
provisions under Section 1129 of the Bankruptcy Code.  All
objections are reserved and will be addressed by the Court at
confirmation of the Plan.

A copy of the Disclosure Statement is available at:

          http://bankrupt.com/misc/nyeb15-43251-467.pdf

                      About Bnois Spinka

Bnois Spinka was formed as a corporation pursuant to Article 10 of
the Religious Corporation law of the State of New York.  The Debtor
asserts that it owns, among other property, real property known as
(i) 123-127 Wallabout Street, Brooklyn, New York, (ii) 5405 State
Route 42, Fallsburg, New York, in Sullivan County, and (iii) 795
Kent Avenue, Brooklyn, New York.  Cornell Realty disputes the
Debtor's ownership of the Kent Property.  Cornell Realty asserts
that it owns the Kent Property.  At the Real Property, the Debtor
asserts that it owns and operates religious institutions, like
synagogues and schools for its members.  At the Wallabout Property,
the Debtor operates a school for girls and asserts that its
affiliate, Congregation Khal Zichron Shmiel Zvi D'Krula operates a
synagogue at the Wallabout Property.  The Fallsburg Property
consists of a summer camp that the Debtor asserts is operated by an
affiliate of the Debtor, namely Yeshiva Nachlas Tzvi D'Krula.  The
Debtor operates a school for boys at the Kent Property.

Bnois Spinka filed for Chapter 11 bankruptcy protection (Bankr.
E.D.N.Y. Case No. 15-43251) on July 16, 2015.

The Debtor is represented by Leo Fox, Esq., who has an office in
New York.


BROADSTREET PARTNERS: S&P Cuts ICR to 'B' on Dividend Payment Plan
------------------------------------------------------------------
U.S. insurance broker BroadStreet Partners is adding $175 million
to its first-lien term loan and paying a $150 million dividend to
its shareholders and option holders.

S&P Global Ratings thus lowered its long-term issuer credit rating
on Columbus, Ohio-based BroadStreet Partners Inc. to 'B' from 'B+'.
The outlook is stable.

S&P said, "We also lowered our issue-level ratings on the company's
first-lien senior secured credit facilities to 'B' from 'B+'. The
recovery rating remains unchanged at '3' (50%), indicating lenders
could expect meaningful recovery in the event of a payment default.
With the proposed transaction, the company's debt structure will
consist of $582 million in first-lien senior secured credit
facilities: the $100 million revolver maturing in 2021, the $407
million ($410 million original issue amount)  term loan maturing in
2023, and the new $175 million add-on term loan, also maturing in
2023.

"Our downgrade of BroadStreet is based on its increased leverage
relative to our expectations following the debt-financed dividend.
With the additional add-on of $175 million to the term loan, our
debt-to-EBITDA calculations will result in a 5.4x ratio as of Sept.
30, 2017--a considerable increase from the 4.1x debt-to-EBITDA
ratio as of September 30, 2017. Although we expect modest
delevering over the next year, we expect leverage to remain above
5x through 2018, compared to our prior expectation of around
4x-4.5x. As a result, we have revised our financial profile
assessment to highly leveraged from aggressive. Despite our
reassessment, the company's leverage and financial policies remain
more conservative than many financial sponsor-owned broker peers'.

"The stable outlook on BroadStreet reflects our expectation that
the company will maintain stable credit metrics with enough cash
flow to support its acquisition strategy, and maintain pro-forma
EBITDA leverage of above 5x for 2017-2018. We expect
low-single-digit organic growth and steady EBITDA margins for
2017-2018. In the next two years, we also expect an FFO-to-debt
ratio of 11%-13% and EBITDA coverage of more than 3x.

"We could lower the rating if the company's earnings deteriorate or
if management takes a more aggressive approach to financial policy
through additional debt financing for acquisitions or reinvestment
in the business above a level appropriate for the rating, including
a debt-to-EBITDA ratio above 7.5x. We could also lower the ratings
if BroadStreet's business profile erodes, becoming vulnerable
through unsuccessful sales strategies and poorly performing
acquisitions as shown by negative organic growth and falling
margins.

"We could raise the rating in the next 12 months if BroadStreet's
leverage falls to around 4.5x and we believe based on financial
policy this is sustainable, combined with continued sound business
fundamentals."


BRUGNARA PROPERTIES: Dakota Note Seeks Ch. 11 Trustee Appointment
-----------------------------------------------------------------
Secured creditor Dakota Note, LLC, filed with the U.S. Bankruptcy
Court for the Northern District of California a motion for the
appointment of a chapter 11 trustee in the case of Brugnara
Properties VI.

Dakota Note contends that cause exists to appoint a trustee by
virtue of the Debtor's mismanagement of assets, the Debtor's delay,
and inability to confirm a chapter 11 plan of reorganization and
the Debtor's conflicts of interest.

Attorney for Dakota Note, LLC, is Reno F.R. Fernandez III, Esq., at
Macdonald Fernadez LLP.

                 About Brugnara Properties VI

Brugnara Properties VI, a company San Francisco, California, sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D.
Calif. Case No. 17-30501) on May 22, 2017.  Katherine Brugnara,
president, signed the petition.  

At the time of the filing, the Debtor disclosed that it had
estimated assets and liabilities of $10 million to $50 million.  

Judge Hannah L. Blumenstiel presides over the case.

On Sept. 17, 2010, the Debtor sought bankruptcy protection (Bankr.
N.D. Cal. Case No. 10-33637), which case was converted to a Chapter
7 liquidation.  The Debtor filed another Chapter 11 case on Dec.
31, 2014 (Bankr. N.D. Cal. Case No. 14-31867), which has been
dismissed by a judge.

Ruth Elin Auerbach, Esq., who has an office in San Francisco,
California serves as the Debtor's legal counsel.


CAESARS ENTERTAINMENT: Egan-Jones Hikes Sr. Unsec. Ratings to B
---------------------------------------------------------------
Egan-Jones Ratings Company, on Sept. 28, 2017, raised the local
currency senior unsecured rating on debt issued by Caesars
Entertainment Corp. to B from CC.  EJR also raised the local
currency commercial paper rating on the Company to B from C.

Also on Sept. 28, 2017, EJR raised the foreign currency and local
currency senior unsecured ratings on debt issued by Caesars
Entertainment Inc. to CC from C.  EJR also raised the foreign
currency and local currency commercial paper ratings on the Company
to C from D.

Previously, on Aug. 21, 2017, EJR assigned C foreign currency and
local currency senior unsecured ratings on debt issued by Caesars
Entertainment Inc.  EJR also assigned D foreign currency and local
currency commercial paper ratings on the Company.

Caesars Entertainment Corporation, is an American gaming
corporation based in Paradise, Nevada that owns and operates over
50 casinos and hotels, and seven golf courses under several brands.


CALIFORNIA RESOURCES: Reports $133M Net Loss for Third Quarter
--------------------------------------------------------------
California Resources Corporation reported a net loss attributable
to common stock of $133 million, or $3.11 per diluted share, for
the third quarter of 2017, compared with net income attributable to
common stock of $546 million, or $13.04 per diluted share, for the
third quarter of 2016.  The adjusted net loss for the third quarter
of 2017 was $52 million, or $1.22 per diluted share, compared with
an adjusted net loss1 of $71 million, or $1.74 per diluted share,
for the third quarter of 2016.  

For the first nine months of 2017, the CRC net loss was $128
million, or $3.01 per diluted share, compared with CRC net income
of $356 million, or $8.79 per diluted share, for the same period in
2016.  The adjusted net loss for the first nine months of 2017 was
$173 million, or $4.07 per diluted share, compared with an adjusted
net loss of $243 million, or $6.12 per diluted share, for the same
period in 2016.

Adjusted EBITDAX for the third quarter of 2017 was $181 million
compared with $164 million for the third quarter of 2016.  Adjusted
EBITDAX for the first nine months of 2017 was $539 million compared
with $448 million for the same period in 2016. Cash provided by
operations was $225 million for the first nine months of 2017.
Capital investments for the third quarter of 2017 were $100 million
and $232 million for the first nine months of 2017, of which $30
million was funded by CRC's joint venture (JV) partner Benefit
Street Partners (BSP) in the third quarter and $82 million in the
first nine months.  After excluding the capital that was funded by
BSP, CRC generated free cash flow1 of $101 million for the first
nine months of 2017.

Todd Stevens, president and chief executive officer, said, "We have
been very pleased with our team's execution as we nearly doubled
the drilling activity in the third quarter of 2017 compared to the
prior quarter.  Our corporate strategy has always been to focus on
value.  One way we have delivered this is through our drilling
efficiencies.  Furthermore, we are particularly excited about the
strong successes from the Buena Vista Nose area and our
redevelopment wells in the Los Angeles Basin.  We believe we will
exit this year at a level of activity supported by capital from
cash flows and JV partners.  As the industry moves toward our
long-standing philosophy of living within cash flow and not chasing
production at all costs, we continue to execute against our
operational and financial goals with this core principle in mind.
We are also pleased to be moving forward with an amendment to
address our bank credit facility maturity and covenants."

                Third Quarter Operating Results

Total daily production volumes averaged 128,000 barrels of oil
equivalent (BOE) per day for the third quarter of 2017, a decrease
of 7 percent from 138,000 BOE per day for the third quarter of
2016.  Total daily production decreased 1,000 BOE per day, or less
than 1 percent, from the second quarter of 2017.

In the third quarter of 2017, realized crude oil prices, including
the effect of settled hedges, increased $6.99 per barrel to $50.02
per barrel from $43.03 per barrel in the prior year comparable
quarter.  Settled hedges increased realized crude oil prices by
$1.12 per barrel in the third quarter of 2017 compared with $1.30
per barrel in the prior year comparable quarter.  Realized NGL
prices increased 54 percent to $34.63 per barrel from $22.45 per
barrel in the third quarter of 2016 due to higher exports and low
inventories.  Realized natural gas prices decreased 3 percent to
$2.56 per thousand cubic feet (Mcf), compared with $2.64 per Mcf in
the same period of 2016.

Production costs for the third quarter of 2017 were $222 million,
or $18.90 per BOE, compared with $211 million, or $16.63 per BOE,
for the third quarter of 2016.  The industry practice for reporting
production sharing-type contracts (PSCs) can result in higher
production costs per barrel as gross field operating costs are
matched with net production.  Excluding the PSC effects, per unit
production costs would have been $17.81 and $15.63 for the third
quarter of 2017 and 2016, respectively.  The increase in production
costs was driven by the ramp-up of downhole maintenance activity in
line with stronger commodity prices.  Adjusted general and
administrative (G&A) expenses for the third quarter of 2017 were
$62 million, compared with $57 million for the third quarter of
2016.  The increase in adjusted G&A expenses was a result of higher
costs of performance-based bonus and incentive compensation plans
due to better than expected results.

Taxes other than on income of $39 million for the third quarter of
2017 were $2 million higher than the same period of 2016.
Exploration expense of $5 million for the third quarter of 2017 was
also $2 million higher than the same period of 2016.

Capital investment in the third quarter of 2017 totaled $100
million, consisting of $70 million of CRC internally funded capital
and $30 million of BSP capital.  Approximately $81 million was
directed to drilling and capital workovers.

Cash provided by operations for the quarter of 2017 was $105
million and free cash flow2 was $35 million after excluding capital
funded by BSP.

                      Nine-Month Results

Total daily production volumes averaged 130,000 BOE per day in the
first nine months of 2017, compared with 142,000 BOE per day for
the same period in 2016, a decrease of 8 percent.

In the first nine months of 2017, realized crude oil prices,
including the effect of settled hedges, increased $8.51 per barrel
to $49.42 per barrel from $40.91 per barrel for the same period in
2016.  Settled hedges increased 2017 realized crude oil prices by
$0.66 per barrel, compared with $3.37 per barrel for the same
period in 2016.  Realized NGL prices increased 62 percent to $33.00
from $20.36 per barrel in the first nine months of 2016. Realized
natural gas prices increased 25 percent to $2.64 per thousand cubic
feet (Mcf), compared with $2.11 per Mcf for the same period in
2016.

Production costs for the first nine months of 2017 were $649
million, or $18.31 per BOE, compared with $583 million, or $15.01
per BOE, for the same period in 2016. Per unit production costs,
excluding the effect of PSC contracts, were $17.21 and $14.18 per
BOE for the first nine months of 2017 and 2016, respectively. The
increase in production costs was driven by higher natural gas and
power prices and the ramp-up of downhole and surface maintenance
activity in line with stronger commodity prices.  While higher
natural gas prices increase CRC's production costs for power and
steam generation, they result in a net benefit to the Company due
to higher revenue generated from natural gas sales.  Adjusted
general and administrative expenses for the first nine months of
2017 were $187 million, compared with $167 million for the first
nine months of 2016.  The increase in adjusted G&A expenses was a
result of higher employee-related costs due to the resumption of
employee benefits and higher costs of performance-based bonus and
incentive compensation plans due to better than expected results.

Taxes other than on income of $103 million for the first nine
months of 2017 were $15 million lower than the same period of 2016.
Exploration expense of $17 million for the first nine months of
2017 was $4 million higher than the same period of 2016.

Capital investment in the first nine months of 2017 totaled $232
million, consisting of $150 million of CRC internally funded
capital and $82 million of BSP capital.  Approximately $170 million
was directed to drilling and capital workovers.

Cash provided by operations for the first nine months of 2017 was
$225 million and free cash flow was $101 million after excluding
capital that was funded by BSP.

                           Hedging Update

The Company continues to opportunistically seek hedging
transactions to protect its cash flow, operating margins and
capital program and to maintain liquidity.  During the third
quarter of 2017, CRC hedged 2018 volumes of 19,000 barrels of oil
per day at approximately $60.00 Brent for 2018. See attachment 8
for more details.
    
                     Operational Update and
                   2017 Capital Investment Plan

CRC remains on track for its full year total capital plan, which is
inclusive of BSP and MIRA JV capital, of $400 million.  The Company
averaged eight rigs in the third quarter of 2017 and is currently
operating nine rigs.  Activity has primarily been focused in the
San Joaquin Basin on steamfloods and waterfloods. Within the basin,
CRC has two rigs on steamfloods, three rigs on conventional, one on
waterfloods, and two on unconventional. Additionally, the Company
has one part-time rig drilling waterflood projects in the Los
Angeles Basin.

For the fourth quarter of 2017, CRC remains focused on waterflood
and steamflood opportunities primarily in the San Joaquin Basin.
The Company expects to continue deploying JV capital toward its
focus areas and anticipates spudding several exploratory
opportunities.

                   Credit Facility Amendment

The Company said it is working with its lender group to amend its
2014 Credit Facility.  The proposed amendment has received approval
from each member of the lender group, subject to federally mandated
flood insurance review.  The proposed amendment, if completed,
would become effective upon the satisfaction of certain conditions,
including the closing of a new term loan with minimum proceeds of
at least $900 million and minimum liquidity at closing of $500
million.  The proceeds of the new term loan would be used to repay
a portion of the borrowings under the 2014 Credit Facility.  The
proposed amendment would, among other things, (i) extend the
maturity date of the 2014 Credit Facility until 2021 (subject to a
potential earlier springing maturity date consistent with our 2014
Credit Facility), (ii) permit the repurchase of up to $100 million
of junior indebtedness, (iii) provide financial covenant relief and
(iv) reduce commitments under the 2014 revolving facility to $1
billion and the 2014 term loan to $200 million.  The Company can
provide no assurances that the amendment will be signed or will
become effective, whether as a result of flood insurance review or
otherwise.

A full-text copy of the press release is available for free at:

                     https://is.gd/MHRUdJ

                 About California Resources

California Resources Corporation is an independent oil and natural
gas exploration and production company operating properties
exclusively within the State of California.  The Company was
incorporated in Delaware as a wholly-owned subsidiary of Occidental
on April 23, 2014, and remained a wholly-owned subsidiary of
Occidental until if was spun off.  On Nov. 30, 2014, Occidental
distributed shares of the Company's common stock on a pro rata
basis to Occidental stockholders and the Company became an
independent, publicly traded company, referred to in the annual
report as the Spin-off.  Occidental retained approximately 18.5% of
the Company's outstanding shares of common stock which it has
stated it intends to divest on March 24, 2016.

California Resources reported net income of $279 million on $1.54
billion of total revenues for the year ended Dec. 31, 2016,
compared to a net loss of $3.55 billion on $2.40 billion of total
revenue for the year ended Dec. 31, 2015.  

As of June 30, 2017, California Resources had $6.15 billion in
total assets, $6.64 billion in total liabilities and $491 million
total deficit.

                           *    *    *

In September 2017, S&P Global Ratings affirmed its 'CCC+' corporate
credit rating on Los Angeles-based exploration and production
company California Resources Corp.  The outlook is negative.  "The
affirmation of the 'CCC+' corporate credit rating on California
Resources Corp. (CRC) reflects our assessment of the
company's improving, but still weak financial measures combined
with increased capital spending that should stem production
declines following a tumultuous 2016.  Nevertheless, we expect debt
leverage to remain very high, above 7x, with no near-term catalyst
for significant improvement under our base case assumptions,
including $50 per barrel West Texas Intermediate (WTI)and Brent
crude oil through 2018.

In August 2016, Moody's Investors Service downgraded California
Resources' Corporate Family Rating to 'Caa2' from 'Caa1' and
Probability of Default Rating to 'Caa2-PD' from 'Caa1-PD'.


CAMBER ENERGY: Reports $3 Million Net Loss for First Quarter
------------------------------------------------------------
Camber Energy, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $3.04 million on $1.90 million of total operating revenues for
the three months ended June 30, 2017, compared to a net loss of
$1.37 million on $153,244 of total operating revenues for the three
months ended June 30, 2016.

As of June 30, 2017, Camber Energy had $37.52 million in total
assets, $50.83 million in total liabilities and a total
stockholders' deficit of $13.30 million.

At June 30, 2017, the Company's total current liabilities of $48.6
million exceeded its total current assets of $2.4 million,
resulting in a working capital deficit of $46.2 million, while at
March 31, 2017, the Company's total current liabilities of $48.2
million exceeded its total current assets of $3.9 million,
resulting in a working capital deficit of $44.3 million.  The $1.9
million increase in the working capital deficit is primarily due to
its loss from operations and interest payments of $0.6 million.

Net cash used in operating activities was $0.4 million for the
three months ended June 30, 2017, as compared to $0.8 million for
the same period a year ago.  The decrease in net cash used in
operating activities of $0.4 million was primarily related to an
increase in lease operating expenses and general and administrative
expenses.

Net cash used in investing activities was $247,154 for the three
months ended June 30, 2017, as compared to net cash used in
investing activities of $49,260 for the same period a year ago
which increase was due to an increase in cash paid for oil and gas
properties.

The Company used net cash in financing activities $0.02 million for
the three months ended June 30, 2017, as compared to having net
cash provided by financing activities of $0.7 million for the same
period a year ago, which change was primarily due to a principal
payment of $0.7 million on its IBC loan for the three months ended
June 30, 2017.

A full-text copy of the Form 10-Q is available for free at:

                      https://is.gd/DlXmSI

                       About Camber Energy

Based in San Antonio, Texas, Camber Energy, Inc. (NYSE American:
CEI) -- http://www.camber.energy.com/-- is a growth-oriented,
independent oil and gas company engaged in the development of crude
oil, natural gas and natural gas liquids in the Hunton formation in
Central Oklahoma in addition to anticipated project development in
the San Andres formation in the Permian Basin.

Lucas Energy changed its name to Camber Energy, Inc., effective
Jan. 5, 2017, to  more accurately reflect the Company's strategic
shift from its Austin Chalk and Eagleford roots to an expanding
addition of shallow oil and gas reserves with longer-lived,
lower-risk production profiles.

Camber reported a net loss of $89.12 million on $5.30 million of
total net operating revenues for the year ended March 31, 2017,
compared to a net loss of $25.44 million on $968,146 of total net
operating revenues for the year ended March 31, 2016.

GBH CPAs, PC -- http://www.gbhcpas.com/-- in Houston, Texas,
issued a "going concern" opinion on the consolidated financial
statements for the year ended March 31, 2017, citing that the
Company has incurred significant losses from operations and had a
working capital deficit at March 31, 2017.  These factors raise
substantial doubt about the Company's ability to continue as a
going concern, the auditors said.


CAPITOL SUPPLY: May Use Cash Collateral for 30 Days
---------------------------------------------------
The Hon. Erik P. Kimball of the U.S. Bankruptcy Court for the
Southern District of Florida has granted Capitol Supply, Inc.,
permission to use cash collateral to pay all ordinary and necessary
expenses in the ordinary course of its business for a period of 30
days.

A final hearing to consider the Debtor's use of cash collateral is
scheduled for Nov. 15, 2017, at 1:30 p.m.

As adequate protection for the Debtor's use of cash collateral, the
Debtor will provide to counsel for Bank of America, N.A., $200,000
from the net proceeds from the sale of real property located at NW
124th Avenue, Coral Springs, Florida 33065 to hold in trust pending
the earlier of the entry of either (a) a final and non-appealable
final court order approving the Debtor's use of cash collateral or
(b) a final and non-appealable order authorizing the amendment and
novation to Office Depot of the Debtor's contract DTFACT-16-D-00008
with the Federal Aviation Administration.

Upon the earlier of the entry of either the final court order of
the novation court order, counsel for the Bank will provide the
adequate protection payment to the Bank, and the amount will be
applied to the principal of the indebtedness owed by the Debtor to
the Bank.

The Debtor grants, as security for all indebtedness that is owed by
the Debtor to the Bank, a post-petition security interest and lien
in, to and against any and all assets of the Debtor, to the same
extent and priority that the Bank held a properly perfected
pre-petition security interest in such assets; provided that,
however, under no circumstances will the Bank have a lien on any
causes of action arising under 11 U.S.C. Section 542 et seq., 547,
548, 549, 550, 551.

Upon the entry of a final court order approving the Adequate
Protection Payment, the Bank agrees to waive any and all claims,
interests and encumbrances it has, or may have, whether known or
unknown, with respect to the remainder of the net proceeds from the
sale of real property located at NW 124th Avenue, Coral Springs,
Florida 33065, in the amount of $281,517.05; provided, however,
that the Bank does not waive any right to a pro rata distribution
of the remaining proceeds on account of any allowed unsecured claim
that the Bank may have.  

Upon the entry of a final court order approving the Adequate
Protection Payment, the Bank will consent to the Debtor's sale of
its interest in an agreement with the Federal Aviation
Administration to Office Depot, Inc.

A copy of the Order is available at:

           http://bankrupt.com/misc/flsb17-21544-65.pdf

As reported by the Troubled Company Reporter on Oct. 27, 2017, the
Debtor sought court permission to use cash collateral for a period
of 30 days to, among other things, pay the Debtor's employees that
are critical to the Debtor's ability to reorganize and fund all
necessary operating expenses of the Debtor's business.

                     About Capitol Supply

Since 1983, Capitol Supply, Inc., has provided the United States
Government, the US Military, State and local government agencies
and consumer and commercial customers worldwide various products
needed to operate their businesses.  Capitol Supply offers office
supply, office furniture, hardware, tools, auto parts, cleaning
supplies, dorms and quarters, package room, and GSA schedule needs.
Capitol Supply was formerly known as Capitol Furniture
Distributing Company and changed its name to Capitol Supply, Inc.,
in March 2005.

Capitol Supply, Inc., based in Boca Raton, Florida, filed a Chapter
11 petition (Bankr. S.D. Fla. Case No. 17-21544) on Sept. 20, 2017.
In its petition, the Debtor estimated $1 million to $10 million in
both assets and liabilities.  The petition was signed by Robert J.
Steinman, director and chief executive officer.

The Hon. Erik P. Kimball presides over the case.  

Bradley S. Shraiberg, Esq., at Shraiberg Landaue & Page, P.A.,
serves as bankruptcy counsel.


CBL & ASSOCIATES: S&P Lowers CCR to 'BB+', Outlook Stable
---------------------------------------------------------
On Nov. 6, 2017, S&P Global Ratings lowered its corporate credit
rating on Chattanooga, Tenn.–based CBL & Associates Properties
Inc. to 'BB+' from 'BBB-'. The outlook is stable.

S&P said, "We affirmed our 'BBB-' issue-level rating on subsidiary
CBL & Associates Limited Partnership's senior unsecured notes and
assigned a '2' recovery rating indicating our expectations for
substantial (70-90%; rounded estimate: 80%) recovery in the event
of a payment default.  At the same time, we also lowered our
issue-level rating on the company's preferred shares to 'B+' from
'BB'."

The downgrade reflects CBL's weaker-than-expected operating results
in the third-quarter-ended Sept. 30, 2017, and lowered guidance for
the rest of 2017. CBL reported a total portfolio same-center NOI
decline of 2.6% for the three months, and a 1.6% decline for the
nine months ended Sept 30, 2017.  Based on the lowered earnings
guidance for a same-center NOI decline of 2%-3%, S&P now expects
NOI to drop 2.5% in fiscal 2017 (mid-point of guidance).

Higher-than-expected tenant bankruptcies, rent concessions to boost
occupancy, and lower rent from renewed leases all contributed to
the revenue decline in the quarter. In fact, rents on renewed
leases dropped a sharp 16.1% for the three months ended Sept. 30,
2017 (-7.9% year-to-date), and we expect continued pressure on rent
growth over the near to intermediate term.

S&P said, "We based the stable outlook on our view that despite our
expectations that same-store NOI will continue to decline over the
next year as rent concessions help stem occupancy declines, debt
leverage should remain in the high-7x area for the next one to two
years.  We think CBL's efforts to reposition and redevelop its
portfolio of assets should help offset some of the pressure from
declining rents.

"While unlikely over the next 12 months, we could raise the ratings
by one notch if CBL is able to reverse recent negative operating
performance and strengthen credit protection measures from current
levels. These two items would indicate to us that, despite a
continued negative retail environment, management could stabilize
performance and absorb vacant space with limited disruptions to its
business. At that time, we would expect the company to achieve
slightly positive NOI growth, execute on extending any upcoming
debt maturities, or accelerate asset sales and use proceeds for
debt reduction, such that debt to EBITDA improves toward the low-7x
area.

"While also unlikely over the next 12 to 24 months, we would
consider lowering the ratings by one notch if operating performance
deteriorates significantly from current levels, potentially because
of increased tenant bankruptcies and continued steep declines in
rent renewals. This could result in materially lower EBITDA margins
and weaker profitability compared to its peers. Additionally, we
would also consider lowering the rating should debt to EBITDA
weaken to the mid-9x area."


CENTENNIAL PROJECT: Case Summary & 3 Unsecured Creditors
--------------------------------------------------------
Debtor: Centennial Project, LLC
        1443 Vanderbilt
        Tyler, TX 75703

Type of Business: Centennial Project, LLC is a privately held
                  company engaged in activities related to
                  real estate.  Its principal assets are
                  located at 1223 Centennial Parkway Tyler,
                  Texas 75703.  Each of RJ Patel Family
                  Limited Partnership and Trung Nam Nguyen
                  holds a 50% membership interest in the
                  company.

Chapter 11 Petition Date: November 7, 2017

Case No.: 17-60820

Court: United States Bankruptcy Court
       Eastern District of Texas (Tyler)

Judge: Hon. Bill Parker

Debtor's Counsel: Mark A. Castillo, Esq.
                  CURTIS|CASTILLO PC
                  901 Main St. Suite 6515
                  Dallas, TX 75202
                  Tel: 214-752-2222
                  Fax: 214-752-0709
                  E-mail: mcastillo@curtislaw.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jayesh Patel, manager.

A full-text copy of the petition, along with a list of three
unsecured creditors, is available for free at
http://bankrupt.com/misc/txeb17-60820.pdf


CIBER INC: Wants to Maintain Plan Exclusivity Through February 5
----------------------------------------------------------------
CMTSU Liquidation, Inc., f/k/a CIBER, Inc., and its affiliates file
with the U.S. Bankruptcy Court for the District of Delaware a
second motion seeking further extension, by approximately 90 days,
of the periods during which the Debtors have the exclusive right
to:

       (a) file a chapter 11 plan through and including February 5,
2018; and

       (b) solicit acceptances of such plan through and including
April 5, 2018.

The Debtors consummated the sale of assets to Ciber Global, LLC
f/k/a HTC Global Ventures, LLC in early June following a successful
auction process that yielded significant proceeds for distribution
to stakeholders.

Since that time, the Debtors have diligently pursued the
formulation and confirmation of the Plan, which efficiently and
effectively distributes the Debtors' remaining assets, creates a
post-effective date management and governance structure, and winds
down the Debtors' estates.

In addition, the Debtors have reconciled (and objected to, where
necessary) approximately 425 of the 600 proofs of claim filed
against the Debtors in an aggregate liquidated amount of
approximately $188 million with the goal of maximizing recoveries
for the Debtors' stakeholders.

Following the closing of the Sale, the Debtors moved swiftly toward
the formulation, negotiation, and filing of the Plan. Indeed, the
Debtors filed initial versions of the Plan and Disclosure Statement
on August 17, 2017.  The Court entered the Disclosure Statement
Order on September 29, 2017 and authorized the Debtors to solicit
acceptances or rejections of the Plan.  The Plan has received
overwhelming support from the Holders of Class 3 General Unsecured
Claims -- the only Class of Claims entitled to vote on the Plan.

Moreover, the Debtors have reached claims settlements with a number
of their larger creditors, including Zayo Group, LLC, GPIF Tuscany
Plaza LLC, LS Selborne House Limited, and Daytona State College
(District Board of Trustees of Daytona State College).

The Debtors intend to continue reconciling claims (and objecting
thereto, if necessary), seek to estimate large claims as
appropriate, and negotiate resolutions with claimants in order to
make distributions on the Effective Date of the Plan or as soon as
reasonably practicable thereafter.

The Debtors are seeking the requested extension in order to
continue negotiations with the Committee and individual creditors
in the hope that the Plan will be fully consensual. The Debtors
believe that a consensual process without the threat of competing
plans will maximize recoveries to stakeholders and provide for
distributions as quickly as possible. Moreover, as noted, Holders
of General Unsecured Claims have overwhelming voted in favor of the
Plan. Accordingly, creditors are not prejudiced by the requested
extension.

The Confirmation Hearing is currently scheduled for November 28,
2017 and the Debtors expect the Plan to go effective shortly
thereafter. In any event, the Debtors firmly believe that the Plan
is confirmable and will be confirmed by the Court at the conclusion
of the Confirmation Hearing.

However, if the Confirmation Hearing is further adjourned, the
Court does not confirm the Plan, or the Effective Date of the Plan
does not occur within the Debtors’ current Exclusive Periods, the
Debtors believe that the best way to maximize recoveries to
stakeholders is to permit the Debtors to remain in control of the
chapter 11 process.

A hearing on the motion will be held on November 28, 2017 at 1:30
p.m. Any objections to the entry of an order approving the Motion
must be filed and served on or before November 20.

                         About CIBER Inc.
    
CIBER, Inc. -- http://www.ciber.com/-- is a global information
technology consulting, services and outsourcing company.  CIBER,
Inc., and two other affiliates sought bankruptcy protection on
April 9, 2017 (Bankr. D. Del. Lead Case No. 17-10772).  Christian
Mezger, its chief financial officer, signed the petition.

The Debtors disclosed total assets of $334.2 million and total
liabilities of $171.9 million as of Sept. 30, 2016.

The Hon. Brendan Linehan Shannon presides over the case.

Morrison & Foerster LLP is the Debtors' lead bankruptcy counsel.
Polsinelli, PC, serves as co-counsel while Saul Ewing LLP serves as
local counsel. The Debtors also hired Houlihan Lokey as investment
banker and financial advisor; Alvarez & Marsal North America, LLC,
as restructuring advisor; and Prime Clerk LLC as noticing and
claims agent.

An official committee of unsecured creditors has been appointed in
the Chapter 11 case. The committee retained Perkins Coie, LLP, as
bankruptcy counsel; Shaw Fishman Glantz & Towbin LLC as co-counsel;
and BDO Consulting as financial advisor.

Since the closing of the Sale, the Debtors have taken steps to
change their corporate names from CIBER, Inc., to CMTSU
Liquidation, Inc., CIBER Consulting, Incorporated, to CMTSU
Liquidation 2, Inc., and CIBER International LLC, to CMTSU
Liquidation 3, LLC.


COMMUNITY HEALTH SYSTEMS: S&P Affirms 'B-' CCR, Outlook Stable
--------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' corporate credit rating on
Community Health Systems Inc. The outlook remains stable.

S&P said, "At the same time, we affirmed our issue-level ratings,
including the 'B+' rating on the senior secured debt, and 'CCC'
rating on the unsecured debt. The recovery rating on the senior
secured debt is '1', indicating our expectation for very high
(90%-100%; rounded estimate: 90%) recovery in the event of a
payment default. The recovery rating on the unsecured debt is '6',
reflecting our expectation for minimal (0%-10%; rounded estimate:
0%) recovery in the event of payment default."

Community Health reported another quarter of weak operating results
as a result of continued weakness in patient volume, hurricane
activity in key markets, and significant asset sales as the company
has moved aggressively to complete its plan to divest 30 hospitals.
Although the company's core business remains challenged, and S&P
may see some further deterioration in the fourth quarter of 2017,
it thinks operations will begin to stabilize in 2018.

S&P said, "Our stable rating outlook reflects our expectation that
Community will complete its asset sales, stabilize its operation,
and be able to generate at least some free cash flow over the next
two years, notwithstanding leverage that we expect to remain above
7x.

"We could lower the rating if we don't have confidence that
Community will have a plan to refinance the debt maturing in 2019
by the second quarter of 2018. We expect the company will still
have a large amount of debt to refinance even after selling
additional hospitals in early 2018. We could also lower the rating
if we do not have the confidence that the company has stabilized
the performance of the hospitals it plans to retain. If adjusted
margins in 2018 fall to about 9% (about 250 basis points below our
2018 estimate) we could lower the rating. Under this scenario, we
would likely view the company's capital structure as unsustainable
over the long term, despite currently adequate liquidity.

"We could raise the rating if we become more certain that Community
can generate about $200 million in positive, recurring
discretionary free cash flow. In our view, this could happen if the
company realizes the cash flow benefit from divesting hospitals
that were cash flow drains, and achieves our 2018 base-case
projection of a 13% adjusted EBITDA margin which would be an
improvement of over 100 basis points from our 2017 estimate."


CONSOL ENERGY: Egan-Jones Hikes Sr. Unsec. Ratings to B
-------------------------------------------------------
Egan-Jones Ratings Company, on August 23, 2017, raised the foreign
currency and local curency senior unsecured ratings on debt issued
by CONSOL Energy Inc. to B from B-.

Consol Energy Inc. is an American energy company with interests in
coal and natural gas production headquartered in the suburb of
Cecil Township, in the Southpointe complex, just outside
Pittsburgh, Pennsylvania.


COPSYNC INC: Auction Set for Nov. 20, Bids Due Nov. 16
------------------------------------------------------
COPsync, Inc., will hold an auction to sell its assets on Nov. 20,
2017.  Qualified bids are due Nov. 16.

On September 29, 2017, COPsync, Inc., filed a voluntary Chapter 11
bankruptcy petition, Case No. 17-12625 in the U.S. Bankruptcy Court
for the Eastern District of Louisiana.  COPsync also filed with the
Court a motion seeking, among other things, authority to sell
substantially all of the assets of COPsync free and clear of all
liens, claims, interests and encumbrances.

Pursuant to an Oct. 19, 2017, Order of the Court, the Sale will be
governed by certain Bid Procedures attached to the Order.

The Bid Procedures also provide that each Qualified Bidder will be
invited to participate in an auction for the Sale at the offices of
Adams and Reese LLP, 701 Poydras Street, Suite 4500, New Orleans,
Louisiana 70139, which Auction must be attended in person and which
shall commence at 9:00 a.m. (prevailing Central Time) on November
20, with Qualified Bids due by 5:00 p.m. on November 16.

Anyone interested in participating in submitting a Qualified Bid
should contact COPsync's counsel at david.bowsher@arlaw.com

As reported by the Troubled Company Reporter on Oct. 5, COPsync
sought court approval of bidding procedures in connection with the
sale of substantially all assets to Kologik Capital, LLC, in
exchange for:

   (i) a credit bid of $1,000,000;

  (ii) retire the outstanding balance of the Debtor's DIP loan
       on the date of closing, up to a maximum of $331,597;

(iii) cash of $600,000, payable within 90 days of closing;

  (iv) membership interests in Kologik equaling 10% of its
       total membership interest, redeemable by the Debtor in
       three years in return for $1,000,000 (at the Debtor's
       option); and

   (v) payment of all cure payment liabilities (if any) on
       assumed contracts and assumed leases.

Through its restructuring professionals' efforts, COPsync made
contact with Thinkstream Acquisition, LLC, doing business as
Kologik.  After expressing a serious interest in the COPsync,
Kologik began a due diligence process that recently culminated in
the Asset Purchase Agreement dated Sept. 29, 2017, by and between
the COPsync, on the one hand, and Koligik's wholly owned
subsidiary, the Purchaser, on the other.  Through the Stalking
Horse APA, COPsync will sell its assets in return for a combination
of credit, cash and equity.

In addition to the Stalking Horse APA, the Purchaser purchased an
assignment of the Dominion Credit Facility from Dominion on Sept.
29, 2017 and, as a result, is now the holder of that credit
facility.  As of the date of the filing of the petition, the
Purchaser is credit bidding the sum of $1,000,000 as a part of its
bid under the Stalking Horse APA.

Kologik also agreed to assist in funding COPsync's emergency cash
needs through (i) a secured note in the amount of $15,000 issued
Sept. 22, 2017, and (ii) a secured note in the amount of $16,597
issued Sept. 25, 2017, that were perfected by a UCC-1 filed in
Delaware on Sept. 25, 2017.

Kologik also agreed to assist COPsync with its postpetition cash
needs by helping fund a $300,000 DIP Loan through an affiliated
company, Kologik Financing Partners, LLC.


The Purchaser may be reached at:

          KOLOGIK CAPITAL, LLC
          2638 S. Sherwood Forest, Suite 222
          Baton Rouge, LA 70816
          Attn: Matthew D. Teague, CEO
          Telephone: (225) 361-8420 (office)
          Telephone: (225) 892-4137 (cell)
          Facsimile: (225) 361-8421
          E-mail: matthewdteague@gmail.com

The Purchaser is represented by:

          c/o Brandon A. Brown, Esq.
          STEWART ROBBINS & BROWN, LLC
          One American Place
          301 Main Street, Suite 1640
          Baton Rouge, LA 70801
          Telephone: (225) 231-9998
          Facsimile: (225) 709-9467
          E-mail: bbrown@stewartrobbins.com

Dominion can be reached at:

          DOMINION CAPITAL, LLC
          341 W. 38th Street, Suite 800
          New York, NY 10018-9686

                          About COPsync

COPsync, Inc. was created in 2005 as a "software for a service" or
"SaaS" platform for law enforcement to share real-time information
amongst counties, agencies, and departments.  It was created in
response to the 2000 death of one of COPsync's co-founders'
colleagues and friends, Texas Department of Public Safety Trooper
Randy Vetter, who was killed making what he believed to be a
routine traffic stop for a seatbelt violation.  The Company's
products include nationally shared network of law enforcement
information COPsync Network, software-driven in-car HD video system
Vidtac, real-time threat alert system COPsync911, and court
buildings security provider COURTsync.

COPsync completed a $10.6 million equity financing capital raise in
November 2015 and became listed on the Nasdaq Capital Market
exchange (COYN).

COPsync, Inc., filed a voluntary petition for relief under chapter
11 of the Bankruptcy Code (Bankr. E.D. La. Case No. 17-12625) on
Sept. 29, 2017.  It is represented by John M. Duck, Esq., Robin B.
Cheatham, Esq., Victoria P. White, Esq., and Scott R. Cheatham,
Esq., at Adams and Reese LLP, as counsel.

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


CORNERSTONE ONDEMAND: Egan-Jones Ups Commercial Paper Ratings to C
------------------------------------------------------------------
Egan-Jones Ratings Company, on August 21, 2017, raised the foreign
currency and local currency commercial paper ratings on Cornerstone
OnDemand Inc. to C from D.

Cornerstone OnDemand Inc. is a cloud-based learning and talent
management solutions provider headquartered in Santa Monica,
California.  The company is publicly traded on the NASDAQ stock
exchange under the ticker symbol CSOD.


CRANBERRY GROWERS: $13M DIP Loan Has Final Approval
---------------------------------------------------
The Hon. Catherine J. Furay of the U.S. Bankruptcy Court for the
Western District of Wisconsin has entered a final order authorizing
Cranberry Growers Cooperative to obtain postpetition financing from
CoBank ACB and use the cash collateral of CoBank arising from a
prepetition secured loan to the Debtor.

As reported by the Troubled Company Reporter on Oct. 5, 2017, the
parties have agreed to a proposed a 19-week budget providing total
operating disbursements of $2,776,329 and total non-operating
disbursements in the aggregate sum of $3,168,530 during the week
ending Sept. 10, 2017, through Jan. 21, 2018.  The DIP facility
will be comprised of a committed, secured revolving line of credit
in an aggregate principal amount as of any day equal to the lesser
of: (a) $13.25 million (the maximum commitment amount); or (b) the
borrowing base as of such day.

The Debtor is authorized to enter into the Fourth Amendment and the
DIP Facility and to incur postpetition debt under the DIP Facility
pursuant to the terms of the Credit Agreement, the other Loan
Documents, and the Final Order.

The DIP Facility will be used to (i) fund the working capital
requirements and other financing needs of the Debtor during the
pendency of the case, and (ii) pay certain transaction fees and
other costs of expenses of the administration of the case.  Use of
funds will be consistent with the budget.  Compliance with the
Budget will be determined as follows: the borrower will not, as of
any day, (a) permit aggregate disbursements by the Borrower for all
expenses during the trailing four-week period, starting with the
period ending Oct. 6, 2017, to exceed 110% of the aggregate amount
of expenses set forth in the Budget for the period, or (b) permit
aggregate revenues of the borrower generated in the ordinary course
of business during the trailing four-week period, starting with the
period ending Oct. 6, 2017, to be less than 90% of the amount of
revenues set forth in the Budget for the period.  

The DIP Facility will not be used to pay any fees or expenses
incurred at any time in connection with the filing or prosecution
of any action which seeks to invalidate, challenge, dispute, avoid,
subordinate or otherwise impair the claims of lender CoBank ACB, or
which seeks to recover on any claims against or transfers made to
the Lender, provided, however, that the DIP Facility may be used to
fund the investigation of the Official Committee of Unsecured
Creditors of the validity, priority and extent of the liens,
security interests and claims of the Lender.

The maturity date under the DIP Facility will mean the earliest of
(i) the date that is six months after the Petition Date, (ii) the
date on which the Lender declares all of the obligations due and
payable pursuant to the terms of the Credit Agreement, the other
Loan Documents, or this Final Order, (iii) the sale of all or
substantially all of the assets of the Debtor pursuant to a sale
under section 363 of the Bankruptcy Code, or (iv) the date on which
the Debtor's plan of reorganization becomes effective.

The Post-Petition Indebtedness will be secured by a security
interest in and lien on all present and future property of the
Estate, including both real and personal property, whether now held
or hereafter acquired by the Estate.

Any cash collateral of the Lender used by the Debtor since the
commencement of the Debtor's case will constitute Post-Petition
Indebtedness under the DIP Facility.  The Debtor is not authorized
to use the Lender's cash collateral (other than to the extent
advances under the DIP Facility constitute cash collateral).

On a daily basis, the Debtor will pay over to the Lender all cash
proceeds (and cash equivalents) of collateral for application to
the Pre-Petition Indebtedness and the Post-Petition Indebtedness as
provided in the Credit Agreement.

Absent manifest error, application of funds by the Lender to the
reduction of the Pre-Petition Indebtedness or the Post-Petition
Indebtedness will be final.  Nothing will impair the validity of
application or security interest or lien.

The payment made by Graceland Fruit, Inc., to the Debtor in October
and/or November 2017 for the purchase of up to $1 million for
frozen cranberries from the 2017 crop, may be remitted by the
Debtor to its grower members for 2017 crop deliveries in accordance
with the Budget, unless Lender has made an advance under the DIP
Facility to permit the Debtor to make payments to growers.

The Lender has the right to credit bid, in whole or in part, the
obligations owed to it by the Debtor in connection with any sale or
disposition of assets in the case.

A copy of the Final DIP Financing Order is available at:

           http://bankrupt.com/misc/wiwb17-13318-113.pdf

                     About Cranberry Growers

Cranberry Growers Cooperative (CranGrow) --
https://www.crangrow.com/ -- is a group of cranberry growers based
in Warrens, Wisconsin.  CranGrow currently has 40 grower members,
and it is these members that own the co-op.  The co-op's growers
range in size from small to very large cranberry marshes, most of
which have been family owned and operated for generations.  Some
have been in operation for over 100 years.  CranGrow produces
sliced sweetened dried cranberries, whole sweetened dried
cranberries, single strength juice (not from concentrate), 50 and
65 brix concentrate, and cranberry seed pomace.  Unlike many
cranberry processors, CranGrow actually grows the fruit and process
it themselves.

Cranberry Growers Cooperative filed a Chapter 11 petition (Bankr.
W.D. Wis. Case No. 17-13318) on Sept. 25, 2017.  The petition was
signed by James Reed, its chief executive officer.  At the time of
filing, the Debtor estimated $1 million to $10 million in both
assets and liabilities.

Cranberry Growers Cooperative hired Dorsey & Whitney LLP as its
lead bankruptcy counsel; and Michael Best & Friedrich LLP as its
local counsel.  Donlin, Recano & Company, Inc., serves as the
Debtor's claims, noticing and solicitation agent.  The Debtor hired
Winston Mar of SierraConstellation Partners LLC as its chief
restructuring officer.

On Oct. 11, 2017, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors.


CRYOLIFE INC: S&P Assigns 'B' CCR on Recapitalization
-----------------------------------------------------
S&P Global Ratings assigned its 'B' corporate credit rating to
CryoLife Inc. The outlook is positive.

At the same time, S&P assigned its 'B' issue-level and '3' recovery
ratings to its $30 million revolver and $225 million first-lien
credit facility. The '3' recovery rating indicates S&P's
expectations for meaningful (50%-70%; rounded estimate: 50%)
recovery in the event of a default.

CryoLife manufactures, processes, and distributes medical devices
and implantable human tissues used in cardiac and vascular surgical
procedures.  The company has two reportable business segments: (1)
Medical devices (about 70% of pro forma post-transaction revenue),
which primarily consists of surgical adhesive (BioGlue) and
mechanical heart valves (On-X) used in cardiac and vascular
surgeries. Post-transaction, JOTEC's endovascular stent-graft
business will be reported under this segment; and (2)
Tissue-preservation services (about 30% of pro forma
post-transaction revenue), which primarily consists of revenues
from cardiac and vascular tissue preservation.

S&P said, "Our rating on CryoLife reflects the company's small
scale (approximately $250 million in revenue pro forma for JOTEC
acquisition), high product concentration, and vulnerability to
intensified competition given the presence of significantly larger
and financially stronger peers. Our ratings also consider the
company's reliance on a few manufacturing facilities, near-term
integration risks, and increasing foreign exchange exposure
following the JOTEC acquisition. These characteristics are only
partially offset by its differentiated products that we expect will
enable the company to sustain and gain market share within its
niche markets, intellectual property (IP) protection, highly
regulated environment that provide barriers to entry, and growth
prospects stemming from the JOTEC acquisition.  

"Our positive rating outlook reflects our expectation that the
company will reduce leverage to below 5x by late 2018 based on our
forecast of increased EBITDA and free cash flow through continual
organic growth in CryoLife's core products, direct contribution
from JOTEC, and synergies combining the companies' marketing and
distribution channels. However, there is some risk to this forecast
given the company's limited scale and relatively low cash
generation, coupled with the planned acceleration of the company's
direct sales strategy.

"We could consider revising the outlook to stable if we think
leverage is likely to be above 5x over a prolonged period. This
could happen if competition intensifies or the integration of JOTEC
does not result in planned accelerated growth and margin expansion.
The resultant discretionary cash flow below $20 million over an
extended period would be commensurate with the 'B' rating.

"We would consider raising the rating if we expect CryoLife to
simultaneously increase its free cash flow generation to about $30
million on a sustained basis and decrease leverage to about 4.5x
over the next two years. This scenario is likely if the company
posts mid-single-digit percentage growth and successfully
integrates JOTEC, improving its operating margins while maintaining
capex below $9 million and R&D expenses below 10%."


CYPRESS SEMICONDUCTOR: S&P Rates New $150MM Convertible Notes 'B+'
------------------------------------------------------------------
S&P Global Ratings assigned its 'B+' issue-level rating to Cypress
Semiconductor Corp.'s proposed $150 million convertible notes due
2023. The company will put the proceeds toward repayment of its
existing $150 million 2% senior exchangeable notes due 2020. The
in-the-money component of the existing converts will be settled in
equity, resulting in limited reduction in Cypress' liquidity.

S&P said, "We also affirmed our 'BB-/Stable/--' corporate credit
rating on Cypress and our 'BB' issue rating on the company's senior
secured debt.

"The ratings reflect our view of the company's recent strength
across its product portfolio in connectivity, memory, and MCUs. The
ratings also reflect our view of the company's trailing-12-month
adjusted leverage of around 3x and projected discretionary cash
flow (free cash flow less debt) of greater than $150 million in
2018."


D. WHITTELSEY: Chapter 727 Claims Bar Date Set for Feb. 23
----------------------------------------------------------
D. Whittelsey Inc., d/b/a Whittelsey Wood Products filed on Oct.
26, 2017, a petition commencing an Assignment for the Benefit of
Creditors proceeding, pursuant to Chapter 727 of the Florida
Statutes, reflecting the Assignment made by D. Whittelsey to Philip
J. von Kahle, as assignee.

D. Whittelsey has its principal place of business at 16301 NW 15
Avenue, Miami, FL 33169.

Mr. von Kahle may be reached at:

     Philip J. von Kahle
     Michael Moecker & Associates, Inc.
     1883 Marina Mile Blvd., Ste. 106
     Fort Lauderdale, FL 33315

The address of proposed counsel for the Assignee is:

     Andrew Zaron, Esq.
     LEN COSGROVE, LLP
     255 Alhambra Circle, Ste. 800
     Coral Gables, FL 33134

Pursuant to Florida Statutes Section 727.105, no proceeding may be
commenced against the Assignee except as provided in Chapter 727,
and except in the case of a secured creditor enforcing its rights
and col lateral under Chapter 679, there shall be no levy,
execution, attachment, or the like in the respect of any judgment
against assets of the estate, other than real property, in the
possession, custody, or control of the Assignee.

To receive any dividend in this proceeding, parties-in-interest
must file a proof of claim with the Assignee, on or before February
23, 2018.

The case is, In re: ASSIGNMENT FOR BENEFIT OF CREDITORS OF D.
WHITTELSEY, INC. d/b/a WHITTELSEY WOOD PRODUCTS, INC. Assignor, To:
PHILIP J. VON KAHLE, Assignee, IN THE CIRCUIT COURT OF THE 11TH
JUDICIAL CIRCUIT, IN AND FOR MIAMI-DADE COUNTY, FLORIDA CIVIL
DIVISION, CASE NO. 2017-025084-CA-01.


DYNEGY INC: Egan-Jones Assigns 'B' Sr. Unsecured Debt Ratings
-------------------------------------------------------------
Egan-Jones Ratings Company assigned 'B' local currency and foreign
currency senior unsecured ratings on debt issued by Old Dynegy Inc.
on August 18, 2017.  EJR also assigned B ratings on the Company's
local currency and foreign currency commercial paper.

Headquartered in Houston, Texas, Dynegy Inc. provides wholesale
power, capacity, and ancillary services to a broad range of
customers (utilities, cooperatives, municipalities and other energy
operations) in 13 states, in the Midwest, the Northeast, and on the
West Coast.


EAGAN AVENATTI: Seeks January 31 Plan Filing Exclusivity Extension
------------------------------------------------------------------
The Hon. Catherine E. Bauer of the U.S. Bankruptcy Court for the
Central District of California will convene a hearing on November
29, 2017, at 10:00 a.m. to consider a supplemental motion seeking
for an extension of the time periods during which Eagan Avenatti
LLP has the exclusive right to file a plan and solicit acceptances
to and including January 31, 2018, and March 31, 2018,
respectively.

On July 19, 2017, Jason Frank Law, PLC and Scott Sims filed their
oppositions to the Debtor's Initial Motion for extension of the
exclusivity deadlines to November 7, 2017 and January 4, 2018,
respectively.  On the same date, the Committee of Unsecured
Creditors filed its Joinder for a 90-day extension.

The Court has continued the hearing on the Initial Motion from its
initial hearing on August 9 to September 20, then to October 4,
then to October 25; and now to the current date of November 29.
The Supplemental Motion is scheduled to be heard on the same date
and time as the Initial Motion.

As stated in various filings with the Court, the Parties are
working to negotiate a consensual plan of reorganization, which the
Debtor currently expects to file on or before November 17, 2017, as
agreed to by the Debtor, the Committee and general unsecured
claimants Jason Frank Law, PLC and Scott Sims as a condition to the
continuance of the hearing on the Initial Motion.

Thus, the Debtor determines that its estate would be best served by
an extension of each of the deadlines as requested in the
Supplemental Motion.  The Debtor believes that the requested
extension of these deadlines will permit the Debtor to propose and
confirm a plan of reorganization that would optimize the Debtor's
going concern value and maximize recoveries for creditors with
allowed claims.

                   About Eagan Avenatti LLP

Headquartered in Newport Beach, California, Eagan Avenatti LLP
provides legal services specializing in commercial, civil law and
business litigation cases.

Eagan Avenatti filed a Chapter 11 petition (Bankr. C.D. Cal. Case
No. 17-11878) on May 10, 2017.  The Hon. Catherine E. Bauer
presides over the case. The Debtor employed Baker & Hostetler LLP
and Pachulski Stang Ziehl & Jones, LLP as counsel.

An involuntary case under Chapter 11 was previously filed against
Eagan Avenatti on March 1, 2017 (Bankr. M.D. Fla. Case 17-01329).
That case was transferred to the Santa Ana Division and reassigned
to Bankruptcy Judge Catherine E. Bauer under case number 17-11878.

The Office of the U.S. Trustee on June 16 appointed three creditors
to serve on the official committee of unsecured creditors in the
Chapter 11 case of Eagan Avenatti LLP.  The Committee hired
Dinsmore & Shohl LLP, as counsel.


EAGLE RIDGE ACADEMY: S&P Alters Outlook to Neg. on Weak Finances
----------------------------------------------------------------
S&P Global Ratings revised its outlook to negative from stable and
affirmed its 'BB+' rating on Deephaven, Minn.'s series 2016A,
2016B, 2015A, and 2015B school lease revenue bonds issued for Eagle
Ridge Academy (ERA).

"The negative outlook represents our view that the school's
financial metrics have been pressured by a high debt burden, while
liquidity, as measured by unrestricted days' cash on hand, has
diminished in the past two years to levels more consistent with a
lower rating," said S&P Global Ratings credit analyst Jessica Wood.
"While fiscal 2017 was a transition year into the new building,
fiscal 2018 will provide a clear view of financial operations in
the second full year of expansion."

S&P said, "We have assessed the enterprise profile as adequate,
based on ERA's long operating history, very strong academic
performance relative to the state, excellent academic quality, and
adequate enrollment profile. We have assessed the financial profile
as vulnerable, based on its high debt burden and total leverage,
adequate coverage of maximum annual debt service (MADS) coverage,
and weak liquidity in fiscal 2016 and 2017 compared with prior
years. The MADS burden as a percentage of expenses is expected to
remain high but may decline as the budget grows and expenses rise
with enrollment growth. When we combine the enterprise profile and
financial profile, this results in a 'bb' indicative rating,
however, we believe the 'BB+' long-term rating better represents
the school's continued high academic performance, as well as the
transition period in fiscal 2017, its first year in the new
building."


ENTERCOM COMMUNICATIONS: S&P Affirms B+ CCR Amid CBS Radio Deal
---------------------------------------------------------------
S&P Global Ratings affirmed its ratings, including the 'B+'
corporate credit rating, on Philadelphia-based Entercom
Communications Corp. and removed them from CreditWatch, where S&P
placed them with positive implications on Feb. 2, 2017. The rating
outlook is stable.

S&P said, "Once Entercom Communications Corp. merges with CBS Radio
Inc., we expect the combined company will be referred to as
Entercom Communications (Entercom). The corporate credit rating
reflects the combined company's critical mass as one of the largest
U.S. radio broadcasters and its favorable large-market presence,
tempered by its lack of meaningful diversification outside radio
broadcasting and the secular pressures affecting radio advertising.
We believe Entercom's adjusted leverage will remain in the mid-4x
area for the next 12-18 months. Although the transaction will
create substantial synergies related to scale as well as redundant
positions and facilities, we believe pressure on revenue growth,
especially at legacy CBS Radio stations, will temper EBITDA growth
and deleveraging. The legacy CBS Radio stations have had
higher-than-industry average revenue declines over the past three
years largely due to underinvestment.

"The stable rating outlook reflects our view that although the
combined company will benefit from meaningful cost-saving
opportunities that could lead to deleveraging, it faces risks in
integrating its operations and turning around legacy CBS Radio
stations' performance. The outlook also reflects our expectation
for EBITDA margin expansion of 200 bps to 300 basis points in
2018.

"We could consider a downgrade if deteriorating operating
performance or integration issues cause the company's deleveraging
to stall, with leverage increasing to 5x. We could also lower the
corporate credit rating if acquisitions or shareholder-favoring
actions lead to leverage increasing to 5x.

"We could raise the rating if management is able to successfully
combine the stations groups, realize expected synergies, and
stabilize revenue trends, resulting in leverage moderating to and
remaining at 4x or lower on a sustained basis. An upgrade would
also depend our expectation for revenue growth and EBITDA margin
expansion beyond 2018."


EPTMS INC: Wants To Use Money in Bank of America Account
--------------------------------------------------------
EPTMS, Inc., seeks permission from the U.S. Bankruptcy Court for
the Western District of Texas to use cash collateral.

The Debtor says it will be necessary for it to use the money in its
Bank of America account in order to stay in business and reorganize
its financial affairs.

The Debtor employs 60 persons.  Most are sales personnel.  Others
are delivery truck drivers, warehousemen, and office personnel.
All of them are expecting regular paychecks on Nov. 1, 2017.  The
cost of an average payroll is approximately $80,000.

The Debtor also has to pay rent on Oct. 1, 2017, for each of its
stores, plus utilities and other operating expenses in the regular
course (taxes, insurance, freight, etc.).

If the employees are not paid, they will not come to work.  If the
rent is not paid, the landlords will lock out EPTMS, INC.  This
case will become an extremely inefficient liquidation, due to the
absence of employees, high costs of trying to gather and salvage
any of the bulky inventory that can be freed from landlords' liens,
and the virtual impossibility of creating any showings under retail
conditions.

The November 1 rents will be post-petition rents.  The Nov. l
payroll will cover pre-petition wages from Oct. 16 to 24 and
post-petition wages from Oct. 25 to 31.

The doctrine of necessity should justify the payment of the nine
pre-petition days' wages.  Those wages would be priority claims if
not paid, and if the Debtor is allowed to reorganize there should
be sufficient assets in excess of what is owed to secured
creditors, to pay them.

The proposed interim budget is in two parts.  Of the Debtor's 20
store locations, 10 have been less profitable than the 10 others.
The Debtor plans to phase out the 10 less profitable locations by
selling off the on-the-floor inventory therein at discounted
prices.  Four of the ten leases will end on their own terms by
year-end 2017, and the floor inventory therein will be moved into
the other six sell-off locations.

According to the Debtor, there will be no new cost-of-goods expense
for those sales, and those stores' operation over the 3-4 months
should be very profitable.  The other budget is for the 10 stores
the Debtor intends to keep open.  Those 10 locations have positive
cash flow, when not burdened with the expenses of the 10 weaker
locations, for rent, utilities, and staffing.

The respective debts of the Debtor to Rapid Capital Advance,
Kabbage, Inc., and Pearl Delta are approximately $500,000, $65,000,
and $287,000 (exclusive of attorney fees).

As adequate protection measures for the use of cash collateral,
EPTMS, INC., requests that the court order interim relief as
follows:

     a) that the court order that the automatic stay applies to
        all creditors holding interests in the cash equivalents
        including BANK OF AMERICA account #-4919;

     b) that the Court award replacement liens to Rapid Capital
        advance, to kabbage, inc., and to Pearl Delta Funding,
        LLC, in the order of priority that existed on petition
        date, Oct. 25, 2017;

     c) that the Court measure the extent of the replacement liens

        according to the value of the collateral that existed on
        petition date, including the sums on deposit in Bank of
        America in the accounts pertinent to each;

     d) that the Court order that the Debtor keep the inventory
        adequately insured against fire, theft, water damage, and
        other hazards;

     e) that the Court order the Debtor to make interim monthly
        adequate protection payments to Rapid Capital Advance,
        Kabbage, Inc., and Pearl Delta Funding, LLC, in amounts
        equal to one 36th of the extent of the cash equivalents
        that were on hand for each, as of petition date;

     f) that the Court order that the Debtor file Monthly
        Operating Reports according to the Guidelines for Debtors-
        in-Possession published by the U.S. Trustee's Office, and
        furnish e-mail access information to Rapid Capital
        Advance, Kabbage, Inc., and Pearl Delta Funding, LLC, so
        that they can review the Operating Reports;

     g) that the court order that the Debtor-in-Possession may
        close the Bank of America account and transfer all funds
        therein, as well as all funds that subsequently would
        otherwise come into that account, to a Debtor-in-
        Possession account in El Paso, Texas, and another in
        Albuquerque, New Mexico, subject to the replacement liens;

     h) that the Court order that the Debtor may use the cash
        equivalents only in the ordinary course of business and
        according to the proposed monthly budget, allowing for a
        variation of up to 15% for each line item, or for a
        variation of up to 15% for all items combined if
        individual line items exceed 15% of the estimate;

     i) that the Court order that the cash collateral be
        maintained at the aggregate level on hand for each
        creditor as of petition date, less amounts paid to that
        creditor from sales and operations and under the requested

        interim order;

     j) that the Court order that Rapid Capital Advance, Kabbage,
        Inc., and Pearl Delta Funding, LLC, will each have rights
        to inspect its collateral and the Debtor's books and
        records on site during regular business hours for the
        Debtor upon reasonable advance notice of at least five
        business days;

     k) that the Court order that if the Debtor defaults upon any
        of the requirements, the creditor who did not receive the
        required performance, may, at its option, send 15 days'
        written notice identifying the default, to the Debtor at
        ricardo915449@live.com and to the Debtor's counsel E.P.
        Bud Kirk at budkirk@aol.com, to cure the default, failing
        which, authorization to use that creditor's cash
        collateral will cease.

A copy of the Debtor's Motion is available at:

           http://bankrupt.com/misc/txwb17-31729-6.pdf

                       About EPTMS, Inc.

EPTMS, Inc., is a retailer of mattresses in the El Paso, Texas
area.

EPTMS, Inc., based in El Paso, Texas, filed a Chapter 11 petition
(Bankr. W.D. Tex. Case No. 17-31729) on Oct. 25, 2017.  In its
petition, the Debtor estimated $100,000 to $500,000 in assets and
$1 million to $10 million in liabilities.  The petition was signed
by Ricardo Solano aka Javier Ricardo Solano Ramirez, president.

The Hon. Christopher H. Mott presides over the case.

E.P. Bud Kirk, Esq., at the law firm of E.P. Bud Kirk, serves as
bankruptcy counsel.


EURONET WORLDWIDE: S&P Affirms 'BB+' $402.5MM Debt Rating
---------------------------------------------------------
S&P Global Ratings said it affirmed its issue-level rating on
Euronet Worldwide Inc.'s $402.5 million 1.5% convertible debt at
'BB+'. This action is the result of S&P Global Ratings reviewing
its issue rating for Euronet Worldwide Inc. that was labeled "under
criteria observation" (UCO) after publishing its revised
"Reflecting Subordination Risk In Corporate Issue Ratings" criteria
on Sept. 21, 2017. With S&P's criteria review complete, it is
removing the UCO designation from the ratings.

S&P continues to rate the convertible debt at 'BB+', one notch
below the issuer credit rating, due to the de facto subordinate
position of the convertible notes by the senior secured revolving
credit facility and term loan.

These rating actions stem solely from the application of its
revised recovery criteria and do not reflect any change in its
assessment of the corporate credit ratings for issuers of the
affected debt issues.

RATINGS LIST

  Rating Affirmed
  Euronet Worldwide Inc.
   $402.5 mil 1.5% convertible debt      BB+


EXCELITAS TECHNOLOGIES: S&P Affirm 'B-' CCR Amid AEA Investors Deal
-------------------------------------------------------------------
AEA Investors entered into a definitive agreement to acquire
Excelitas Technologies Corp. from Veritas Capital for total
consideration of approximately $1.8 billion, funded via a mix of
debt and equity. S&P Global Ratings expects the transaction to
result in increased leverage to the 7.5x area; however, S&P
believes that continued improvement in operating
performance will enable Excelitas to reduce leverage to the 6.5x-7x
range in the 12-18 months following close of the transaction.

Thus, S&P is affirming its 'B-' corporate credit rating on Waltham,
Mass.-based Excelitas Technologies Corp. The outlook is stable.

S&P said, "At the same time, we assigned our 'B-' issue-level
rating to the company's proposed $895 million first-lien credit
facilities, consisting of a $100 million revolver due in 2023, a
$505 million term loan due in 2024, and a EUR250 million term loan
due in 2024. The '3' recovery rating indicates S&P Global Ratings'
view that lenders can expect meaningful (50%-70%; rounded estimate:
55%) recovery in the event of payment default. We also assigned our
'CCC+' issue-level rating to Excelitas' proposed second-lien term
loan due in 2025. The '5' recovery rating indicates our expectation
for modest (10%-30%; rounded estimate: 10%) recovery for lenders in
the event of a payment default.

"Upon close of the transaction, we will withdraw the issue-level
and recovery ratings on the company's existing first-lien term
loan, which will be repaid as a part of the transaction.

"The ratings affirmation reflects our belief that the announced
$1.8 billion acquisition by AEA will not meaningfully affect
Excelitas' credit metrics and our view of the company's financial
risk. The purchase, which will be funded by a combination of debt
and equity, is expected to close in the next 45 days. Although we
expect adjusted leverage to increase to the mid-7x area upon close
of the transaction, we believe the company will reduce leverage
toward the 6.5x-7x range over the next 12-18 months, driven by the
positive momentum in end-market demand and operating performance
observed through the first nine months of this year. Additionally,
we expect Excelitas to generate modest free cash flow and maintain
adequate liquidity, including our forecast for moderate cash
balances and full revolver availability.

"The stable outlook reflects our expectation that the company will
gradually reduce leverage to the 6.5x-7x range in the 12-18 months
following its sale to AEA, driven by strong growth in its
commercial, and defense and aerospace (D&A) segments, coupled with
incremental margin improvement forecast during the period. We
expect the company to continue to generate modest free cash flow
and do not expect it to draw significantly on its revolving credit
facility in the near term.

"We could downgrade Excelitas if unforeseen weakness in operating
performance constrains its liquidity and we believe that a covenant
breach is likely, or if we determine that the company's capital
structure is unsustainable long-term.

"We could raise our ratings on Excelitas if its operating
performance is stronger than expected such that we expect leverage
to improve below 6.5x on a sustained basis. We could also raise our
ratings if the company meaningfully increases its scale while
maintaining EBITDA margins of more than 18%."


EXGEN RENEWABLES: S&P Assigns 'BB' CCR & Rates Term Loan 'BB+'
--------------------------------------------------------------
S&P Global Ratings assigned its 'BB' long-term corporate credit
rating to Delaware-based ExGen Renewables IV, LLC. The outlook is
stable. At the same time, S&P Global Ratings assigned its 'BB+'
issue-level rating and '2' (75%) recovery rating to the company's
$750 million term loan due 2024. The '2' recovery indicates that
lenders can expect substantial recovery (70% to 90%) in the event
of a default.

"Our 'BB' corporate credit rating on EGR IV reflects the credit
strength of a diversified portfolio of wind, solar, and biomass
generation assets that have long-term contracts with highly rated
counterparties," said S&P Global Ratings credit analyst Ben
Macdonald. "The portfolio is diverse in terms of wind and solar
resource regime and technology," Mr. Macdonald added.

The credit documents also specify dedicated liquidity reserves and
limitations on additional debt.

EGR will have ownership stakes in the following entities:

-- 100% ownership of AV Solar Ranch (AVSR), a 241 megawatt (MW)
utility scale solar plant in Los Angeles County with FirstSolar
thin film panels.

-- 100% ownership of SolGen, a 69.3 MW distributed poly-silicon
and mono-silicon solar generation project with 192 sites across
Arizona, California, Georgia and Oregon.

  -- 50% ownership of Albany Green Energy (AGE), a 50 MW biomass
facility utilizing a circulating fluidized bed boiler, and expected
to consume mainly wood-based fuel, located outside Albany, Georgia.
This project is the newest in the portfolio, reaching commercial
operation in July 2017. S&P notes that EGR receives 99% of
cashflows from this asset.

-- 50% ownership of ExGen Renewables Partners LLC (EGRP). The
other 50% is owned by John Hancock Life Insurance. EGR receives 51%
of cashflows from EGRP.

EGRP in turn owns 100% of the following projects:

-- Continental Wind, a 665.3 MW, 13 project wind portfolio with
assets in six US states. S&P Global Ratings rates the project-level
debt at Continental Wind at 'BBB-/Stable'.

-- Renewable Power Generation, LLC (RPG), a 255.8 MW portfolio
with five wind assets (217.8 MW) and two solar projects (38.0 MW).

-- Eight other standalone wind projects with no project level
debt.

-- Two other small utility scale solar projects (MTBOE and Denver
airport).

Together the portfolio totals 1,791 MW, with 1,051 MW of net
ownership considering the 50% interest in AGE and EGRP. There is
project level debt and a 1.2x distribution test at AVSR, SolGen,
Continental Wind, and RPG. The only other project with debt is the
Denver airport project, although the debt and contributions
expected from that asset are not a material percentage of the
aggregate for EGR IV.

EGR IV has a diversified portfolio spread across equipment
suppliers, technology, geographies, and contract offtakers. The
wind portfolio has been developed by six different wind turbine
manufacturers (and has 13 different turbine models and a total of
685 turbines totaling 1,357MW) while the solar projects use
technology from seven solar panel manufacturers, although a
majority of the utility scale locations use thin film Cadmium
Telluride panels supplied by FirstSolar. In terms of geography, the
portfolio is diversified across 15 states and 17 resource regimes.
The wind resources are located in areas with historically low wind
correlation and solar resources are located in high solar radiation
areas.


F.G. DEVELOPMENT: Case Summary & Largest Unsecured Creditors
------------------------------------------------------------
Debtor affiliates that filed separate Chapter 11 bankruptcy
petitions:

      Debtor                                     Case No.
      ------                                     --------
      F.G. Development Corporation               17-24937
      4703 Marlboro Pike
      Capitol Heights, MD 20743

      The Free Gospel Church of the              17-24902
      Apostles' Doctrine
      4703 Marlboro Pike  
      Capitol Heights, MD 20743
    
Business Description: F.G. Development owns in fee simple
                      interests: (a) a shopping center located at
                      4703 Marlboro Pike Capitol Heights, Maryland

                      20743 valued by the company at $4 million;
                      (b) a doctor's office located at 4744
                      Marlboro Pike, Capitol Heights, MD 20743
                      valued by the company at $250,000; and (c) a

                      vacant commercial space located at 4714
                      Marlboro Pike Capitol Heights, Maryland
                      20743 valued by the company at $170,000.
                      F.G. Development previously sought
                      bankruptcy protection on June 9, 2015
                     (Bankr. D. Md. Case No. 17-18210).

                      The Free Gospel Church of the Apostles'
                      Doctrine is in the apostolic church business

                      since 1962.  The Church filed for Chapter 11

                      protection on June 9, 2015 (Bankr. D. Md.
                      Case No. 15-18209).

Chapter 11 Petition Date: November 7, 2017

Court: United States Bankruptcy Court
       District of Maryland (Greenbelt)

Judge: Hon. Wendelin I. Lipp

F.G. Development's
Counsel:               Rowena Nicole Nelson, Esq.
                       LAW OFFICE OF ROWENA N. NELSON, LLC
                       1801 McCormick Drive, Suite 150
                       Largo, MD 20774
                       Tel: 301-358-3271
                       Fax: 877-728-7744
                       E-mail: rnelson@rnnlawmd.com
                               information@rnnlawmd.com

Free Gospel's Counsel: John Douglas Burns, Esq.
                       THE BURNS LAW FIRM, LLC
                       6303 Ivy Lane, Ste. 102
                       Greenbelt, MD 20770
                       Tel: (301) 441-8780
                       Email: info@burnsbankruptcyfirm.com
                              jburns@burnsbankruptcyfirm.com

Assets and Liabilities:

                                     Estimated   Estimated
                                       Assets   Liabilities
                                    ----------  -----------
F.G. Development Corporation          $4.44M      $3.60M
The Free Gospel Church              $0-$50,000  $0-$50,000

The petitions were signed by Antoinette Green, chief operating
officer.

F.G. Development Corporation said it has no unsecured creditors.

A full-text copy of F.G. Development's petition is available for
free at http://bankrupt.com/misc/mdb17-24937.pdf

A full-text copy of The Free Gospel Church's petition is available
for free at:

         http://bankrupt.com/misc/mdb17-24902.pdf

A copy of The Free Gospel Church's list of 20 largest unsecured
creditors is available for free at:

      http://bankrupt.com/misc/mdb17-24902_creditors.pdf


FIELDWOOD ENERGY: Moody's Affirms Caa3 Corporate Family Rating
--------------------------------------------------------------
Moody's Investors Service appended a limited default (LD) to
Fieldwood Energy LLC.'s (Fieldwood) Probability of Default Rating
(PDR). Concurrently, Moody's affirmed Fieldwood's all other
ratings, including the Caa3 Corporate Family Rating (CFR), B3 first
lien reserve based term loan (RBTL), B3 senior secured first lien
term loan (FLTL), Caa3 senior secured first lien last-out (FLLO),
and Ca second lien term loan (SLTL). The rating outlook remains
negative.

The appending of the PDR with an "/LD" designation indicates
limited default, reflecting the recent disclosure by Fieldwood that
it had entered into an exchange and amendment transaction involving
a portion of its second-lien term loan that permits deferral of
cash interest payments. Moody's views this exchange to be a limited
default since the interest deferral feature changes the terms of
the original second lien term loan agreement and allows Fieldwood
to temporarily avoid a default. The "/LD" designation will be
removed after one business day.

On September 29, 2017, Fieldwood's private equity owner, Riverstone
Holdings LLC (Riverstone) and a number of its affiliates exchanged
an aggregated $780.7 million of Second Lien Term Loan (SLTL)
position into a Sponsor Second Lien Term Loan (Sponsor SLTL).
Riverstone and its affiliates are the only lenders under the
Sponsor SLTL and all outstanding interest and principal outstanding
under the Sponsor SLTL will have to be repaid on September 30,
2020.

The following summarizes Fieldwood's ratings.

Issuer: Fieldwood Energy LLC

Ratings Affirmed

-- Corporate Family Rating, Affirmed Caa3

-- Probability of Default Rating, Affirmed Caa3-PD /LD (/LD
    appended)

-- First-Lien Reserve Based Senior Secured Term Loan, Affirmed B3

    (LGD2)

-- First-Lien Senior Secured Term Loan, Affirmed B3 (LGD2)

-- First-Lien Last-Out Senior Secured Term Loan, Affirmed Caa3
    (LGD3)

-- Second-Lien Senior Secured Term Loan, Affirmed Ca (LGD5)

Outlook Actions:

-- Maintain Negative Outlook

RATINGS RATIONALE

Fieldwood's Caa3 CFR reflects its unsustainable capital structure;
weak liquidity, including limited cash balance and no revolving
credit facility; $755 million of debt maturities in 2018 and
another $2.53 billion in 2020; and large debt-like plugging &
abandonment (P&A) obligations that require significant ongoing cash
expenditures. Absent meaningful debt reduction or maturity
extension, the company will continue to face high restructuring
risk. The rating also considers Fieldwood's concentration in the US
Gulf of Mexico shelf, short proved developed (PD) reserve life, and
exposure to 3rd party pipelines that have suffered frequent
shut-ins in recent quarters constraining sales volume. Fieldwood
monetized all of its hedges in third quarter 2017 leaving limited
downside protection for its future production. The rating is
supported by Fieldwood's large oil-weighted (~60% liquids)
production base, high proportion PD and behind-pipe reserves that
can be brought to production at fairly low costs. The Caa3 CFR also
reflects the company's private ownership and limited operational
and financial disclosures.

Fieldwood has weak liquidity based on its limited cash balance and
the lack of a revolving credit facility. The company had pro forma
cash balance of roughly $57 million as of June 30, 2017 after
accounting for the recent hedge monetization. While the company
plans to live within cash flow, ongoing underinvestment and the
resultant decline in production will limit its ability to enhance
financial flexibility. The company also needs to find a permanent
solution for it looming debt maturities. Fieldwood's alternate
liquidity is limited given all of its assets are encumbered by its
secured credit facilities.

The $387.6 million first-lien reserve based term loan (RBTL)
facility and the $755 million first-lien term loan (FLTL) are rated
B3, three notches above the CFR, because they have a priority claim
to Fieldwood's assets and benefit from the significant loss
absorption cushion provided by the first-lien last-out (FLLO) and
the second-lien term loan (SLTL) facilities.

Moody's believes the B3 rating captures the recovery potential for
the first-lien term loans despite a B2 indication by Moody's Loss
Given Default Methodology. The FLLO facility is rated at the Caa3
CFR level and will have higher recoveries than the $1.66 billion
second-lien loans that are notched below the CFR at Ca because of
its junior claim behind all other debt in a potential default
situation.

The negative outlook reflects Fieldwood's refinancing risk and high
financial leverage. The CFR could be downgraded if the EBITDAX to
Interest coverage ratio falls below 1.5x or if the cash balance is
substantially reduced. For an upgrade, Moody's will look for
significant debt reduction, improved liquidity and a sustainable
RCF/Debt ratio above 10%.

Fieldwood Energy LLC is a Houston, Texas based private oil and gas
E&P company with primary producing assets on the US Gulf of Mexico
shelf.

The principal methodology used in these ratings was Independent
Exploration and Production Industry published in May 2017.


FM 544 PARK: Case Summary & 17 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: FM 544 Park Vista Ltd.
        4851 Keller Springs Rd. #209
        Addison, TX 75001

Type of Business: Single Asset Real Estate (as defined in 11
                  U.S.C. Section 101(51B))

Chapter 11 Petition Date: November 7, 2017

Case No.: 17-34255

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Hon. Stacey G. Jernigan

Debtor's Counsel: Joseph F Postnikoff, Esq.
                  GOODRICH POSTNIKOFF & ASSOCIATES, LLP
                  801 Cherry Street, Suite 1010
                  Ft. Worth, TX 76102
                  Tel: (817) 347-5261
                  Fax: (817) 335-9411
                  Email: jpostnikoff@gpalaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Richard Shaw, manager.

A copy of the Debtor's list of 17 largest unsecured creditors is
available for free at:

        http://bankrupt.com/misc/txnb17-34255_creditors.pdf

A full-text copy of the petition is available for free at:

            http://bankrupt.com/misc/txnb17-34255.pdf


FPL ENERGY: Fitch Affirms BB Rating on $365MM Senior Secured Notes
------------------------------------------------------------------
Fitch Ratings has affirmed the rating on FPL Energy National Wind,
LLC's $365 million ($44.5 million outstanding) senior secured notes
due 2024 at 'BB'. The Rating Outlook is Stable.

KEY RATING DRIVERS

The rating is supported by a diverse wind regime generating
revenues under fixed-price long-term power purchase agreements
(PPA), but historical wind volatility and increased operating costs
have reduced cash flows below initial estimates. Rating case
financial performance reflects lower near-term coverage that
gradually increases if expected operating performance can be
sustained, resulting in an average debt service coverage ratio
(DSCR) of 1.36x and minimum of 1.14x.

Stabilizing Operating Profile - Operating Risk: Midrange
Operating and maintenance (O&M) expenses have persisted well above
the original base case. Fitch's projections utilize the increased
actual historical O&M cost in the base case with additional stress
applied in the rating case for the later years. The project has
historically maintained good availability with an average of about
94% portfolio-wide since 2005.

Revised Production Estimates - Revenue Risk- Volume: Weaker
Actual wind resource performance has fallen persistently below the
original estimates. The project benefits from geographic
diversification but any portfolio effect has not fully mitigated
generation losses from reduced wind speeds overall. Revised
projections exclude one divested portfolio project and utilize an
updated P50 forecast based on actual performance, which is on
average 10% below the original P50.

Fully Contracted Revenues - Revenue Risk- Price: Midrange
Revenues are derived under fixed-price long-term contracts for a
portfolio of eight wind farm projects totalling 389.6 megawatts
(MW). The credit quality of the offtakers, which are investment
grade, does not actively constrain the current ratings.

Debt Structure - Debt Structure: Midrange
The debt incorporates typical project finance features with a
12-month debt service reserve (DSR) and additional reserves for
operations and major maintenance. The distribution triggers are set
at 1.25x for the past twelve months and projected six months at
1.10x.

Financial Profile
Financial performance has been lower than original projections due
to reduced energy revenues and higher operating costs. Fitch's
rating case includes a 9% to 12% reduction to output and a 10%
increase to O&M expenses. The rating case average debt service
coverage ratio (DSCR) is 1.36x with a minimum of about 1.14x in
2017. DSCR is forecasted to gradually increase if current operating
performance can be sustained.

Peer Group
Fitch rated wind projects that meet the rating case investment
grade DSCR threshold of 1.30x include Continental Wind ('BBB-'/
Stable Outlook) with an average DSCR of 1.38x and a minimum of
1.33x, and Caithness Shepherds Flat ('BBB-'/Stable Outlook) with an
average DSCR of 1.33x and a minimum of 1.27x. Higher rated projects
benefit from higher coverage and more stable performance in line
with the investment grade threshold.

RATING SENSITIVITIES

Future Developments That May, Individually or Collectively, Lead to
Negative Rating Action:

-- Decline in generation or higher than expected operating
    expenses that reduce DSCRs to below the Fitch rating case
    could result in a negative rating action.

Future Developments That May, Individually or Collectively, Lead to
Positive Rating Action:

-- Sustained improved performance resulting in DSCRs above
    the Fitch base case could result in a positive rating action.

CREDIT UPDATE

Overall portfolio availability averaged 89% for FYE 2016 and 89%
for Q2 2017, below historical averages of 94%. Portfolio
electricity production in 2016 and Q2 2017 were 84% and 87% of
forecasts respectively, primarily driven by a combination of plant
availability and unplanned outages. Multiple sites have exhibited
significant availability losses from causes including generator
cable issues, blade repairs, early parts replacement due to winter
conditions, and extended troubleshooting on turbines. Two sites
also experienced about 2.5 days of icing outage in January 2017 as
well as outages in February and March due to brush fires. Most of
the issues have or are in process of being remedied and as a result
reported a 2017 DSCR near 1.20x, an improvement from the comparable
period in 2016 where DSCR was near 1.00x. This was due to costs and
downtime from foundation repairs at one of the sites that have
since been fully resolved.

In April 2017, the Holdco obligations were paid in full and are no
longer outstanding. There are no major capital expenditures planned
in 2018 at any of the National Wind sites. However, North Dakota
House Bill 1378 was recently passed which requires the installation
of an aircraft lighting detection system at the North Dakota site
by December 31, 2021. Management is currently determining the
timing and costs of the installation (estimated at $300 to $500k).

Fitch Cases
Under the assumption that the portfolio's financial and operational
performance rebounds, base case DSCRs are more than 1.70x from 2018
- 2023. In Fitch's rating case of 10% higher expenses and about 10%
lower generation output, the project's average DSCR is 1.36x
through debt maturity in 2024, which is in line with average
historical performance prior to the 2015 operating challenges.
DSCRs in the rating case escalate from a low of 1.14x in 2017 to
1.55x by debt maturity primarily due to a declining debt service
profile.

Asset Description
The project is a portfolio of eight operating wind farms with an
aggregate capacity of approximately 389.6 MW (previously 533.5 MW
including the 144 MW Wyoming project). Each project company is
wholly owned by the issuer and is otherwise unencumbered with
project-level indebtedness. All of the output of each wind farm is
committed under long-term PPAs.


FREEDOM HOLDING: Gets Regulatory OK to Close FFINEU Acquisition
---------------------------------------------------------------
Freedom Holding Corp. received notification from the Cyprus
Securities and Exchange Commission on Nov. 1, 2017, that it has
granted final regulatory approval to allow Tmur Turlov to transfer
ownership of FFINEU Investments Limited ("Freedom CY")and the
securities brokerage and financial services business conducted by
it in Cyprus to the Company.  Receipt of CySEC approval was the
final condition necessary to close the acquisition of Freedom CY.
The Company and Mr. Turlov intend to close the acquisition of
Freedom CY at the earliest practicable date.

As previously disclosed in a Current Report on Form 8-K filed with
the U.S. Securities and Exchange Commission on Nov. 23, 2015, the
Company entered into a Share Exchange and Acquisition Agreement
with Mr. Turlov, pursuant to which the Company agreed to acquire
Mr. Turlov's 100% equity interests in (i) FFIN Securities, Inc., a
Nevada corporation, established to create or acquire a registered
broker-dealer in the United States, (ii) LLC Investment Company
Freedom Finance, a Russian limitied liability company and the
securities brokerage and financial services business conducted by
it in Russia, including its wholly owned subsidiary JSC Freedom
Finance, a Kazakhstan joint stock company and the securities
brokerage and financial services business conducted by it in
Kazakhstan, and (iii) Freedom CY and the securities brokerage and
financial services business conducted by it in Cyprus.  The Company
completed the acquisition of FFIN on Nov. 23, 2015.  As reported in
the 8-K as amended, the closings of the Freedom RU and Freedom CY
acquisitions were subject to completion of a number of closing
conditions.  Closing of the acquisition of Freedom RU occurred on
June 29, 2017, as previously reported in the Annual Report on Form
10-K of the Company for the fiscal year ended
March 31, 2017, filed with the SEC on June 30, 2017.

At the closing of the Freedom CY acquisition, Mr. Turlov will
transfer his interest in Freedom CY and the securities brokerage
and financial services business of Freedom CY to the Company and
Freedom CY will become a wholly owned subsidiary of the Company.
Mr. Turlov will be issued 12,758,011 shares of Company common
stock.  Upon the closing of the Freedom CY acquisition, all the
transactions contemplated under the Acquisition Agreement will be
completed.

The shares of common stock to be issued to Mr. Turlov at the
Freedom CY closing will be issued in reliance on the exemptions
from registration provided in Section 4(a)(2) of the Securities Act
for transactions not involving any public offering and Regulation S
promulgated under the Securities Act for offers and sales made
outside the United States without registration.  Mr. Turlov
represented that he was an "accredited investor" as defined in Rule
501(a) of Regulation D and acknowledged, in writing, that the
securities must be acquired and held for investment.  Mr. Turlov
has confirmed in writing that he is a non-U.S. person, as defined
in Regulation S.  All certificates evidencing the shares issued
will bear a restrictive legend.  No underwriter participated in the
offer and sale of these securities, and no commission or other
remuneration was paid or given directly or indirectly in connection
therewith.

                     About Freedom Holding

Freedom Holding Corp., formerly known as BMB Munai, Inc., is
engaged in oil and natural gas exploration and production through
Emir Oil LLP, which was sold to a third party entity in 2011.  The
Company has been focused on satisfying its post-closing
undertakings in connection with the sale of Emir Oil, winding down
its operations in Kazakhstan and exploring oil and gas
opportunities.

BMB Munai reported a net loss of $578,139 for the year ended March
31, 2017, a net loss of $491,999 for the year ended March 31, 2016,
and a net loss of $138,634 for the period from Aug. 25, 2014, to
March 31, 2015.  As of June 30, 2017, BMB Munai had $164.6 million
in total assets, $106.6 million in total liabilities and $58.01
million in total stockholders' equity.


FREEDOM HOLDING: Signs Deal to Acquire Freedom UA
-------------------------------------------------
Freedom Holding Corp. entered into a Share Exchange and Acquisition
Agreement, dated Nov. 1, 2017, with BusinessTrain, Ltd. to acquire
100% of the outstanding equity interest of LLC Freedom Finance,
(formerly known as FC Ukranet, LLC), a Ukranian limited liability
company ("Freedom UA") and the securities brokerage business
conducted by it in Ukraine.  BusinessTrain Ltd., is a third-party
unrelated to the Company.  The Company will acquire BusinessTrain's
interest in Freedom UA and Freedom UA will become a wholly owned
subsidiary of the Company in exchange for 387,700 shares of
restricted common stock of the Company.

The consummation of the acquisition of Freedom UA and the delivery
of Company common stock for the equity interest of Freedom UA is
subject to receipt of all required regulatory approvals in Ukraine,
including the approval of the National Securities and Stock Market
Commission of Ukraine, of the transfer of ownership of Freedom UA
and the securities brokerage business conducted by it from
BusinessTrain to the Company.  On the date of the Agreement
operational and managerial control of Freedom UA was transferred to
the Company and the Company will retain control from the date of
the Agreement until the transaction is consummated or terminated.

The Company does not deem the acquisition of Freedom UA to be
material.

                     About Freedom Holding

Freedom Holding Corp., formerly known as BMB Munai, Inc., is
engaged in oil and natural gas exploration and production through
Emir Oil LLP, which was sold to a third party entity in 2011.  The
Company has been focused on satisfying its post-closing
undertakings in connection with the sale of Emir Oil, winding down
its operations in Kazakhstan and exploring oil and gas
opportunities.

BMB Munai reported a net loss of $578,139 for the year ended March
31, 2017, a net loss of $491,999 for the year ended March 31, 2016,
and a net loss of $138,634 for the period from Aug. 25, 2014, to
March 31, 2015.  As of June 30, 2017, BMB Munai had $164.6 million
in total assets, $106.6 million in total liabilities and $58.01
million in total stockholders' equity.


GENERAL COMMUNICATIONS: Egan-Jones Cuts FC Sr. Unsec. Rating to B-
------------------------------------------------------------------
Egan-Jones Ratings Company, on August 22, 2017, downgraded the
foreign currency senior unsecured rating on debt issued by General
Communications Inc to B- from B.

General Communication Inc. is a telecommunications corporation
operating in Alaska. Through its own facilities and agreements with
other providers, GCI provides cable television service, Internet
access, Wireline and cellular telephone service.


GINNYBAKES LLC: Chapter 727 Claims Bar Date Set for Feb. 1
----------------------------------------------------------
Ginnybakes LLC filed on Oct. 4, 2017, a petition was filed
commencing an Assignment for the Benefit of Creditors proceeding,
pursuant to Chapter 727 of the Florida Statutes, to Kenneth A. Welt
as Assignee.

Pursuant to Florida Statutes, Section 727.105, no proceeding may be
commenced against the Assignee except as provided in Chapter 727
and except in the case of a secured creditor enforcing its rights
and collateral under Chapter 679, there shall be no levy,
execution, attachment, or the like in the respect of any judgment
against assets of the estate, other than real property, in the
possession, custody, or control of the Assignee.

To receive any dividend in this proceeding, parties-in-interest
must file a proof of claim with the Assignee, on or before February
1, 2018 (120 days from the date the Petition was filed).

Ginnybakes LLC has its principal place of business at 3535 N.W.
60th Street, Miami, FL 33142.

The Assignee may be reached at:

     Kenneth A. Welt
     8201 Peters Road, Suite #1000
     Plantation, FL 33324

The case is, In re: ASSIGNMENT FOR THE BENEFIT OF CREDITORS OF
GINNYBAKES LLC, Assignor, To: KENNETH A. WELT, Assignee, IN THE
CIRCUIT COURT OF THE 11TH JUDICIAL CIRCUIT, IN AND FOR MIAMI-DADE
COUNTY, FLORIDA, CASE NO. 2017-023488-CA-08.

Proposed Attorneys for Assignee:

     Scott N. Brown, Esq.
     Morgan B. Edelboim, Esq.
     BA ST AMRON LLP
     One Southeast Third Avenue, Suite 1400
     Miami, FL 33131
     Telephone: 305.379.7904
     Facsimile: 305.379.7905
     E-mail: sbrown@bastamron.com
             medelboim@bastamron.com


GREYSTAR REAL ESTATE: S&P Alters Outlook to Stable
--------------------------------------------------
S&P Global Ratings said it revised its outlook on Greystar Real
Estate Partners LLC to stable from positive. S&P said, "At the same
time, we affirmed our 'BB-' issuer credit rating on Greystar. In
addition, we assigned a 'BB-' issue-level rating on Greystar's new
senior secured notes due 2025. The recovery rating is '3',
indicating our expectation for meaningful recovery (50%) of
principal in the event of a payment default."

S&P said, "The outlook revision to stable considers our expectation
that leverage, measured as net debt to adjusted EBITDA, will remain
3.0x-4.0x, compared with our prior expectation of leverage
declining to under 3.0x. The stable outlook also considers the
firm's favorable market position in multifamily property
management, its history of deleveraging, and its sustained
profitability. Pro forma this transaction, we expect leverage to
increase to 3.15x-3.25x but remain well within 3.0x-4.0x.

"Our stable outlook on Greystar reflects our expectations that the
company will maintain its favorable market position in multifamily
property management services, its existing operating profitability,
and leverage between 3.0x and 4.0x. Our outlook also reflects our
expectation of stable market trends in multifamily housing during
the next two to three years and Greystar's ability to successfully
compete in the sector.

"We could lower the ratings over the next 12 months if we expect
leverage to rise above 4.0x on a persistent basis. Separately, we
could lower the rating if Greystar's market position erodes
significantly, or if a substantial portion of the company's
construction and development loan guarantees jeopardizes the
company's liquidity and capital. We view the prospect of the latter
scenario to be remote.

"An upgrade is unlikely over the next 12 months. However, we could
raise the rating if we believe that Greystar will operate longer
term--through the commercial real estate (CRE) cycle--with lower
leverage, specifically below 3.0x net debt to EBITDA on a sustained
basis, and maintain its leading market position in multifamily
property management. We could also raise the ratings if the firm's
outstanding loan guarantees diminish significantly."


GREYSTAR REAL: Moody's Assigns B2 Rating to New Sr. Secured Notes
-----------------------------------------------------------------
Moody's Investors Service affirmed the ratings of Greystar Real
Estate Partners, LLC, including its Corporate Family Rating at B2.
In addition Moody's assigned a B2 rating to the company's proposed
senior secured notes offering. The proposed notes will be used to
refinance its $320 million senior secured notes due 2022 and to
sponsor future equity investments in its core funds. The ratings
outlook was revised to positive, reflecting Moody's expectation of
continued growth in Greystar's latest fund ("Greystar Growth &
Income Fund" or "GGIF") and overall growth in recurring revenue
streams while reducing its leverage metrics in line with a B1
rating.

The following ratings were affirmed:

Issuer: Greystar Real Estate Partners, LLC

Corporate family rating at B2

Senior secured notes due 2022 at B2

The following rating was assigned:

Issuer: Greystar Real Estate Partners, LLC

Proposed senior secured notes due 2025, assigned at B2

RATINGS RATIONALE

Greystar current rating and outlook reflect its growth in stable
earnings streams within its property management and investment
management segments while maintaining debt/recurring EBITDA below
4.0x. Since 2014 Greystar's trailing twelve month revenue has grown
by 75% to $440 million as of June 30, 2017. The company recently
created GGIF, a $4.4 billion open-ended, perpetual life multifamily
real estate fund, following the acquisition of Monogram Residential
Trust Inc. in September by an investment group led by Greystar.
GGIF is expected to generate meaningful earnings growth in the form
of property management and construction management fees over the
next 12-18 months. In addition, the perpetual nature of GGIF
enhances the cash flow stability from its investment management
segment, which previously focused on closed-ended funds with
tenures of 8-10 years.

The B2 corporate family rating factors in the company's
concentration in one sector, multifamily, and the high percentage
of earnings derived from property management agreements, which have
one-year terms that are cancelable with 30 days' notice. Also,
Greystar's development/construction business remains a concern, as
Moody's are in the latter stages of the current real estate cycle
and apartment supply is at a peak. Despite the fact that Greystar's
pipeline of projects is diversified geographically and is in
various stages of development, construction and lease-up risk
remains.

With the refinancing of the 2022 senior secured notes, Greystar
will push out its debt maturities by three years and reduce its
cost of capital. Moody's expect debt/recurring EBITDA to increase
from current levels (3.7x as of June 30, 2017) with the issuance of
the proposed senior secured notes. Leverage should fall closer to
4.0x over the next 18 months as excess proceeds from the issuance
are invested.

Upward ratings movement would likely reflect continued profitable
growth in stable fee streams and maintenance of debt/recurring
EBITDA closer to 4.0x. In addition, improved geographic and
business line diversification would also place positive pressure on
the rating.

A downgrade would result should the company experience any
significant missteps in the execution of the construction and the
sale of ongoing development projects resulting in a 10% or more
reduction in total company revenues. Downward ratings pressure
would also reflect the loss of key business relationships resulting
in reduction in its average property management retention rate to
below 70%. Finally, deterioration in Greystar's credit profile such
that debt/recurring EBITDA rises closer to 6.0x would also result
in negative ratings pressure.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in October 2016.

Greystar Real Estate Partners, LLC a private real estate service
provider specializing in the multifamily sector. The company
provides property management, investment management and development
and construction services mainly to private investors such as
pension funds, private equity groups, financial institutions and
lenders in possession. Greystar is headquartered in Charleston,
South Carolina, USA, and approximately 11,800 employees in 130
markets in the US, Europe and Latin America.


HALEN CAPITAL: Chapter 727 Claims Bar Date Set for Feb. 26
----------------------------------------------------------
Halen Capital Management, Inc., filed on Oct. 27, 2017, a Petition
commencing an Assignment for the Benefit of Creditors, pursuant to
Chapter 727, Fla. Stat., to Larry S. Hyman, as Assignee.

The Petition was filed in the Circuit Court of Pinellas County.

Pursuant to Fla. Stat. 727.105, no proceeding may be commenced
against the Assignee except as provided in Chapter 727, and
excepting the case of the secured creditor enforcing its rights in
collateral under Chapter 679, there shall be no levy, execution,
attachment or the like, in connection with any judgment or claim
against assets of the Estate, other than real property, in the
possession, custody or control of the Assignee.

The Assignee will take the deposition of an authorized corporate
representative of the Assignor at Wilder Center, 3000 Gulf to Bay
Blvd., Suite C-2, Clearwater, FL 33759, on November 17, 2017, at
10:00 a.m. for the purposes of discovery and compliance with
Florida Statute 727 and pursuant to the Florida rules of Civil
Procedure.

To receive any dividend in this proceeding, parties-in-interest
must file a Proof of Claim with the Assignee on or before February
26, 2018.

The case is, In re: HALEN CAPITAL MANAGEMENT, INC., Assignor, to
LARRY S. HYMAN, Assignee, Case No. 17-006470-CI, IN THE CIRCUIT
COURT OF THE SIXTH JUDICIAL CIRCUIT, IN AND FOR PINELLAS COUNTY,
FLORIDA, CIVIL DIVISION.

Halen Capital has its principal place of business at 301 S.
Missouri Ave, Clearwater, FL 33756,

Mr. Hyman may be reached at:

     Larry S. Hyman, Assignee
     307 S. Boulevard, Suite B
     Tampa, FL 33606


HARBORVIEW TOWERS: Penthouse 4C Seeks Appointment of Ch. 11 Trustee
-------------------------------------------------------------------
Penthouse 4C, LLC, a creditor and member of Debtor Council of Unit
Owners of the 100 Harborview Drive Condominium, filed with the U.S.
Bankruptcy Court for the District of Maryland a motion for an entry
of an order dismissing the Debtor's chapter 11 case, converting the
case to a proceeding under chapter 7 of the Bankruptcy Code, or
appointing a chapter 11 trustee.

Penthouse 4C claims that cause exists to convert the case to
chapter 7, dismiss the case, or appoint a chapter 11 trustee.
Nearly 20 months into this case, the Debtor is no closer to
confirming a chapter 11 plan than it was on the Petition Date. Even
worse, it has been nearly five months since the rejection of the
Plan, yet the Debtor has not proposed a new plan. Meanwhile, since
the Petition Date, the Debtor's estate has incurred over $1.25
million in attorneys' fees between the Debtor's bankruptcy counsel
and special condominium counsel, with no progress toward
reorganization to show for such a tremendous drain on the estate.
Continuing to allow the expenditure of estate assets on such an
unjustifiable scale, while at the same time enforcing the automatic
stay and precluding creditors from enforcing their rights, is
unfair and prejudicial to creditors.

Moreover, as Penthouse 4C argued at length while objecting to the
Plan, the Debtor has an affirmative duty, under the Maryland
Condominium Act to levy special assessments on individual unit
owners to fund its obligations and expenses and pay creditors in
full. As issuing a special assessment would enable the Debtor to
pay all its creditors in full, doing so is unequivocally in the
best interest of creditors and the estate. Further, the Debtor's
fiduciary duty to its creditors as a debtor in possession mandates
a special assessment to pay creditors in full.

A copy of Penthouse 4C's Motion is available at:

    http://bankrupt.com/misc/mdb16-13049-509.pdf

Attorneys for Penthouse 4C, LLC:

     Maria Ellena Chavez-Ruark, Esq.
     Saul Ewing Arnstein & Lehr LLP
     500 East Pratt Street, 9th Floor
     Baltimore, Maryland 21202
     Telephone: (410) 332-8797
     Facsimile: (410) 332-8074
     E-mail: maria.ruark@saul.com

                     About the Debtor

Council of Unit Owners of the 100 Harborview Drive Condominium,
Debtor, represented by Lisa Yonka Stevens, Yumkas, Vidmar, Sweeney
& Mulrenin, LLC, Paul Sweeney, Yumkas, Vidmar, Sweeney & Mulrenin,
LLC & Craig B. Zaller, Nagle & Zaller, P.C.

US Trustee, U.S. Trustee, represented by Hugh M. Bernstein, Office
of U.S. Trustee.

Council of Unit Owners of the 100 Harborview Drive Condominium, a
condominium association, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Md. Case No. 16-13049) on March 9,
2016.

The petition was signed by Dr. Reuben Mezrich, president. The
Debtor is represented by Paul Sweeny, Esq., at Yumkas, Vidmar,
Sweeney & Mulrenin, LLC. Judge James F. Schneider is assigned to
the case. The Debtor estimated assets and liabilities at $10
million to $50 million.


HARRINGTON & KING: May Use Cash Collateral Through Nov. 17
----------------------------------------------------------
The Hon. Deborah L. Thorne of the U.S. Bankruptcy Court for the
Northern District of Illinois has entered an agreed order extending
Harrington & King Perforating Co., Inc., and Harrington & King
South, Inc.'s cash collateral use through Nov. 17, 2017.

The motion is continued to Nov. 16, 2017, at 10:00 a.m.

Any advance made by Inland Bank and Trust on behalf of the Debtors
during the period covered by the court order will be considered a
post-petition advance under the Debtors' existing lines of credit
with Inland Bank and Trust.

A copy of the court order is available at:

          http://bankrupt.com/misc/ilnb16-15650-280.pdf

As reported by the Troubled Company Reporter on Oct. 23, 2017, the
Court entered an agreed order extending the Debtors' use of cash
collateral through Oct. 27, 2017.

                   About The Harrington & King

The Harrington & King Perforating Co., Inc., and Harrington & King
South Inc. are in the business of manufacturing perforating metal
sheets and rolled coils of varying gauges and types to produce hole
patterns of various sizes, shapes, and spacing.  Most of the work
is done to customer specifications and consists of high value-added
jobs, not typical of most metal punching.  The products are used in
automotive, acoustics, architecture, food and pharmaceutical
straining and filtering, interior design, manufacturing, safety
flooring, pollution control, transportation and mining cleaning and
grading, electronics and other fields.

Harrington & King Perforating Co. and Harrington & King South
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
N.D. Ill. Case Nos. 16-15650 and 16-15651) on May 7, 2016.  The
petitions were signed by Greg McCallister, chief restructuring
officer and chief operating officer.  The cases are jointly
administered under Case No. 16-15650.  

The Debtors each estimated assets and liabilities of $1 million to
$10 million.

The cases are assigned to Judge Deborah L. Thorne.

The Debtors engaged The Law Office of William J. Factor, Ltd., as
bankruptcy counsel.  The Debtors tapped Ulmer & Berne LLP as
special counsel; Spiegel & Cahill, P.C., as special workers'
compensation counsel; Beacon Management Advisors LLC as financial
advisor; and Cushman & Wakefield of Illinois, Inc., as real estate
broker.

The official committee of unsecured creditors retained Goldstein &
McClintock LLLP as its legal counsel, and Conway MacKenzie, Inc.,
as its financial advisor.

                         *     *     *

On April 11, 2017, the Debtors filed a disclosure statement and
Chapter 11 plan of reorganization.


HARSCO CORP: Egan-Jones Hikes Sr. Unsecured Ratings to B+
---------------------------------------------------------
Egan-Jones Ratings Company, on August 18, 2017, raised the foreign
currency and local currency senior unsecured ratings on debt issued
by Harsco Corp. to B+ from B.

Harsco Corporation is a diversified, worldwide industrial company
based in the United States. Harsco operates in 35 countries and
employs approximately 12,300 people worldwide.


HERBALIFE LTD: Egan-Jones Lowers Sr. Unsec. Ratings to BB
---------------------------------------------------------
Egan-Jones Ratings Company, on August 21, 2017, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Herbalife Ltd. to BB from BB+.

Herbalife Ltd. is a global nutrition company. The Company develops
and sells weight management, healthy meals and snacks, sports and
fitness, energy and targeted nutritional products, as well as
personal care products.


INTERNATIONAL ACADEMY OF FLINT: S&P Cuts 2007 Bonds Rating to BB
----------------------------------------------------------------
S&P Global Ratings lowered its rating to 'BB' from 'BB+' on the
series 2007 public school academy revenue bonds, issued for
International Academy of Flint (IAF), Mich. The outlook is stable.

"We lowered the rating based in part on the U.S. Not-for-Profit
Charter School methodology, published on Jan. 3, 2017, and on our
view of the school's variable enrollment, which has pressured
operations and weakened maximum annual debt service coverage," said
S&P Global Ratings credit analyst James Gallardo.

S&P said, "We assessed IAF's enterprise profile as adequate,
characterized by sufficient demand with satisfactory, though
weakening, academics when compared with those of peers; excellent
student retention; and a stable management team. We assessed IAF's
financial profile as vulnerable, with very weak maximum annual debt
service (MADS) coverage, negative operating margins, and a moderate
debt burden. Combined, we believe these credit factors lead to an
indicative standalone credit profile of 'bb' and a final long term
rating of 'BB'.

"The stable outlook reflects our expectation that IAF's enrollment
and operating performance will continue to stabilize, thereby
supporting consistency in its MADS coverage and cash position. In
addition, we expect the academy to maintain its solid balance sheet
resources.

"We could lower the rating if enrollment declines unexpectedly from
its current level, further pressuring operations and coverage, or
if the academy issues additional debt.

"We do not expect to take a positive rating action during the
outlook period. However, we could consider a positive rating action
if the school stabilizes enrollment, sustains positive operating
margins, and increases its MADS coverage to be more in line with a
higher rating."


IPAYMENT INC: S&P Affirms 'B+' Debt Ratings Amid Upsized Loans
--------------------------------------------------------------
S&P Global Ratings said that it affirmed its 'B+' issue-level
rating, with a recovery rating of '1', on Westlake Village,
CA-based merchant acquirer iPayment Inc. S&P said, "(iPayment)
first-lien term loan after the company announced an upsize of debt.
The '1' recovery rating indicates our expectation for substantial
(90%-100%; rounded estimate: 95%) recovery in the event of a
payment default. We also affirmed our 'B-' issue-level rating, with
a recovery rating of '4', on the company's upsized second-lien
notes. The '4' recovery rating indicates our expectation for
average (30%-50%; rounded estimate: 35%) recovery in the event of a
payment default." The company will use proceeds from the add-ons to
acquire an independent sales organization that iPayment previously
partnered with.

The 'B-' corporate credit rating and stable outlook reflect
iPayment's small scale and narrow scope in the competitive and
fragmented U.S. merchant acquiring industry, and the risk that that
adjusted debt to EBITDA will remain above 7x over the next 12
months, pro forma for the add-ons. S&P said, "In our leverage
calculation, we include preferred stock as debt, because we believe
it will likely be replaced with debt over the coming years.
iPayment, like other small U.S. merchant acquirers we rate,
processes less than one percent of overall U.S. transaction
processing volume (Nilson, March 2017). The company completed a
distressed exchange in April 2017 after its capital structure had
become unsustainable from several years of EBITDA decline. We
recognize that the company has improved its operations and returned
EBITDA growth in 2016 driven partially by sales force restructuring
initiatives." However, iPayment's reliance on independent sales
organizations and third-party processing arrangements result in
lower margins than acquirers with proprietary platforms and larger
direct sales forces.

S&P said, "We expect EBITDA to grow in at least the
mid-single-digit percentage range over the next 12 months, driven
by strong U.S. transaction volume growth, and realization of
synergies following the close of the acquisition. We expect
leverage will be in the low-7x range at the end of 2017 (pro forma
for transaction), and that the company will have the ability to
reduce leverage to under 7x by the end of 2018, but expect that the
company will continue to prioritize investments in its distribution
channels over debt repayment.

The stable outlook reflects our view that iPayment will grow EBITDA
in at least the mid-single-digit percentage range in the next 12
months, driven by synergies realized from its recent acquisition
and modest organic growth, with some debt repayment, such that
leverage declines to below 7x by the end of 2018."

RECOVERY ANALYSIS

Key analytical factors

S&P said, "Our simulated default scenario assumes a default
occurring in 2019 because of a weak economic environment, a
significant decline in merchant transaction volumes, and regulatory
or marketplace changes that lead to heightened competition or
pricing pressure. We have valued the company on a going-concern
basis using a 6x multiple, in line with other merchant acquiring
peers."
Simulated default assumptions

-- Year of default: 2019
-- EBITDA at emergence: $78.1 million
-- Implied enterprise value multiple: 6.0x

Simplified waterfall

-- Net enterprise value (after 5% administrative costs): $445.1
million
-- Valuation split (obligors/nonobligors): 100%/0%
-- Collateral value available to secured creditors: $445.1
million
-- Secured first-lien debt: $375.3 million
    —Recovery expectations: 70% to 90%; rounded estimate: 95%
-- Second lien debt: $197.0 million
    —Recovery expectations: 30% to 50%; rounded estimate: 35%

RATINGS LIST

  iPayment Inc.

   Corporate Credit Rating                B-/Stable/--

  Ratings Affirmed; Recovery Ratings Unchanged

  iPayment Inc.

   Senior Secured                         B+
    Recovery Rating                       1 (95%)
   Senior Secured                         B-
    Recovery Rating                       4 (35%)


J&S AUTO: Has Court Permission to Use Cash Collateral
-----------------------------------------------------
The Hon. Melvin S. Hoffman of the U.S. Bankruptcy Court for the
District of Massachusetts has granted J&S Auto Inc. permission to
use cash collateral for post-petition payroll of $15,000 plus
current bi-weekly insurance payments.

A hearing to consider the Debtor's continued use of cash collateral
will be held on Nov. 8, 2017, at 10:15 a.m.

The secured parties will have a replacement lien to the extent of
collateral diminution.

A copy of the court order is available at:

            http://bankrupt.com/misc/mab17-13911-23.pdf

                        About J&S Auto Inc.

Based in Revere, Massachusetts, J&S Auto Inc. filed a Chapter 11
petition (Bankr. D. Mass. Case No. 17-13911) on Oct. 20, 2017,
listing under $1 million in both assets and liabilities.  The
Debtor is represented by George J. Nader, Esq., at Riley & Dever,
P.C., as counsel.


JOURNAL-CHRONICLE: May Use Up To $424,500 of Cash Collateral
------------------------------------------------------------
The Hon. William J. Fisher of the U.S. Bankruptcy Court for the
District of Minnesota has authorized Journal-Chronicle Company to
use up to $424,500 of cash collateral, pending the final hearing.

A final hearing on the Debtor's cash collateral use will be held on
Nov. 14, 2017, at 3:30 p.m.

As reported by the Troubled Company Reporter on Oct. 27, 2017, the
Debtor sought court permission to use cash collateral in order to
carry on its business activities, to pay for its current
operations, including purchases, insurance, utilities, payroll, and
payroll taxes and rent.  The Debtor will be able to operate, on a
cash basis, and believes that it will be able to obtain a confirmed
plan and reorganization in accordance with existing rules and
statutes.  The Debtor's estimated cash needs through Nov. 14, 2017,
will be no less than $434,900.

Creditors with a purported lien in cash collateral are: (a)
Profinium Financial; (b) Southern Minnesota Initiative Foundation;
and (c) Sabra Otteson.  Each has a blanket lien on all of the
assets of the Debtor, including cash collateral assets.  There are
also two creditors that hold consignment inventory (and certain
related equipment) at the Debtor's business.  They are: (d) Veritiv
Operating Company; and (e) FujiFilm Norma American Corporation.

The Debtor is authorized to grant any creditor having an interest
in cash collateral a replacement lien in the Debtor's post-petition
assets of the same type and nature as subject to the pre-petition
liens.

As additional adequate protection, the Debtor will (a) maintain
insurance on all of the property in which the cash collateral
creditors (and all other secured creditors) claim a security
interest; (b) pay all post-petition federal and state taxes,
including timely deposit of payroll taxes; (c) provide the cash
collateral creditors (and all other secured creditors, upon
reasonable notice), access during normal business hours for
inspection of their collateral and the Debtor's business records;
and (d) deposit all cash proceeds and income into a Debtor in
Possession Account.  

A copy of the Order is available at:

            http://bankrupt.com/misc/mnb17-33322-9.pdf

                 About Journal-Chronicle Company

Journal-Chronicle Company, a Minnesota corporation --
http://www.j-cpress.com/services-- provides offset, digital and
wide-format printing services. The Company also offers mailing,
fulfillment and marketing support to its clients. J-C Press works
with UPS, FedEx, USPS and a variety of other carriers to make sure
customers get the products on time.  The company ships to all 50
states and across the globe.

Journal-Chronicle Company, doing business as J-C Press, filed a
Chapter 11 petition (Bankr. D. Minn. Case No. 17-33322) on Oct. 23,
2017.  The petition was signed by Patrick J. McDermott, president.
At the time of filing, the Debtor estimated assets and liabilities
at $1 million to $10 million.

The case is assigned to Judge William J Fisher.

The Debtor is represented by Thomas Flynn, Esq., at Larkin Hoffman
Daly & Lindgren Ltd.


KRATOS DEFENSE: Moody's Assigns B3 Rating to 2025 Sec. Notes
------------------------------------------------------------
Moody's Investors Service has assigned a B3 rating to the planned
senior secured notes due 2025 of Kratos Defense and Security
Solutions, Inc. Kratos' existing ratings, including the B3 CFR and
speculative grade liquidity of SGL-2, are unaffected.

Proceeds of the note offering along with cash on hand of
approximately $100 million will fund redemption of the existing
$373 million 7% senior secured notes due 2019. Following the
transaction Moody's expects that the cash balance should be around
$140 million.

Moody's expected much of the proceeds from Kratos' recent primary
equity issuance to be applied to debt reduction.

RATINGS RATIONALE

The ratings reflect the expectation of an improved but still high
level of financial leverage, at mid-6x (Moody's adjusted basis) pro
forma for the redemption/note issuance, with about $10 million to
$15 million of free cash flow generation near-term.

The ratings factor in upside profit potential from Kratos' unmanned
aerial system investments and development contracts. The
investments cover both aerial target drones and, the more emerging,
unmanned aerial tactical vehicle category.

The stable rating outlook incorporates the near-term free cash flow
expected, and the company's willingness and ability to deploy
equity issuance proceeds in a creditor friendly fashion. Further,
should unmanned aerial system opportunities require more investment
capital than is expected across 2018, the company's improved cash
balance provides that cushion.

Upward rating momentum would depend on some stability and solid
profits in the largest KGS unit, with some success in the UAVs
programs producing some backlog growth, debt/EBITDA approaching the
5x level, and expectation of free cash flow closer to $20 million
annually.

Downward rating pressure would follow backlog decline, weakening
liquidity, or diminishing credit metrics such as with debt/EBITDA
approaching 7x.

Assignments:

Issuer: Kratos Defense and Security Solutions, Inc.

-- Senior Secured Regular Bond/Debenture, Assigned B3 (LGD4)

Kratos Defense & Solutions, Inc., headquartered in San Diego, CA,
operates in three sectors: Government Solutions (70% of 2016
revenues), Public Safety and Security (19%) and Unmanned Systems
(11%). Revenues over the twelve months ended October 1, 2017 were
$732 million.

The principal methodology used in this rating was Global Aerospace
and Defense Industry published in April 2014.


KRATOS DEFENSE: S&P Rates New $300MM Senior Secured Notes 'B'
-------------------------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating and '4'
recovery rating to Kratos Defense & Security Solutions Inc.'s
proposed $300 million senior secured notes due 2025. The '4'
recovery rating indicates our expectation for average (30%-50%;
rounded estimate: 40%) recovery in the event of a default.

The company plans to use the proceeds from this issuance, along
with $100 million of cash from its balance sheet, to repay its $373
million of outstanding secured notes and pay related fees and
expenses. This transaction is in line with our previous expectation
that the company would use around $100 million of the proceeds from
its $186 million equity issuance in September 2017 for debt
repayment, causing its debt-to-EBITDA to decline to 4.7x-5.2x as of
the end of 2017 from over 17.0x as of the end of 2016. The company
will also be reducing the size of its asset-based lending (ABL)
revolver to $90 million from $110 million, though we do not expect
Kratos to use the revolver over the next 12 months so its liquidity
should not be materially affected.

S&P said, "Our rating on Kratos reflects the company's position as
a mid-size defense contractor. The rating also reflects the
company's credit metrics, which we expect will improve on increased
revenue and earnings from its new programs, expected reductions in
the investment the company has been making in its unmanned systems
business and management's recent debt repayment. Kratos' revenue
has increased by 13% year-over-year as of the last nine months
ended September 2017. The company's EBITDA margin has also improved
to 8.0% from 5.9%. In its unmanned segment, Kratos began production
on a major target drone program for the U.S. Navy in July 2017 and
we expect that the majority of the increase in its revenue and
earnings in 2018 and 2019 will come from this segment. Kratos
continues to maintain a high level of leverage because it has
undertaken a number of debt-financed acquisitions and has invested
heavily in its unmanned systems program. Kratos experienced some
losses in 2016 as a result of these investment in its unmanned
systems business, which lead its debt-to-EBITDA to increase to
17.3x as of the end of 2016. The company has concentrated on
reducing its debt since the fourth quarter of 2016. The proposed
transaction is the second time this year that Kratos has used the
proceeds from a stock sale to reduce its debt (Kratos paid down $62
million of its senior secured notes in March 2017). We expect that
the company will continue to concentrate on reducing its debt and
growing its unmanned business, which still requires a large amount
of capital expenditures. We do not expect Kratos to engage in any
significant acquisitions or shareholder rewards over the next one
to two years."

ISSUE RATINGS

Recovery Analysis

Key analytical factors

-- S&P has completed a recovery analysis on Kratos' proposed
transaction and assigned a '4' recovery rating to its new $300
million secured notes due 2025.

-- Pro forma for the transaction, the company's capital structure
will comprise a $90 million ABL revolver, $300 million of senior
secured notes, and a $1.3 million senior unsecured term loan in
Israel.

-- Other default assumptions include the following: LIBOR rising
to 250 basis points (bps) and a 60% draw on the asset-based
revolver at default.

Simulated default scenario

-- Simulated year of default: 2020
-- EBITDA at emergence: $39 million
-- EBITDA multiple: 5x

Simplified waterfall

-- Net enterprise value (after 5% admin. costs): $187 million
-- Priority claims: $55 million
-- Valuation split (obligors/nonobligors): 95%/5%
-- Collateral value available to secured creditors: $128 million
-- Secured first-lien debt claims: $310 million
-- Recovery expectations: 30%-50% (rounded estimate: 40%)

RATINGS LIST

  Kratos Defense & Security Solutions Inc.
   Corporate Credit Rating          B/Positive/--

  New Ratings
  Kratos Defense & Security Solutions Inc.
   Senior Secured
    $300M Notes Due 2025            B
     Recovery Rating                4(40%)


LAFFITE'S HARBOR: Case Summary & Top Unsecured Creditors
--------------------------------------------------------
Debtor affiliates that filed separate Chapter 11 bankruptcy
petitions:

     Debtor                                  Case No.
     ------                                  --------
     Laffite's Harbor Development I, LP      17-36191
     9025 Ruland Road Suite B-1
     Houston, TX 77055

     Laffite's Harbor Development II, LP     17-36194
     9025 Ruland Road Suite B-1
     Houston, TX 77055

Type of Business: The Debtors are privately held companies in
                  Houston, Texas that are engaged in
                  activities related to real estate.  Their
                  principal assets are located at 14520
                  Stewart Rd., Galveston, Texas 77554.

Chapter 11 Petition Date: November 7, 2017

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Hon. Karen K. Brown

Debtors' Counsel: Bennett G Fisher, Esq.
                  FISHER & ASSOCIATES
                  55 Waugh Drive, Suite 603
                  Houston, TX 77007
                  Tel: 713-223-8400
                  Fax: 713-609-7766
                  E-mail: bgf@fisherlaw.net

                                     Estimated   Estimated
                                      Assets    Liabilities
                                    ----------  -----------
Laffite's Harbor Development I       $1M-$10M    $10M-$50M
Laffite's Harbor Development II     $10M-$50M    $10M-$50M

The petitions were signed by Todd Edwards, manager.

A. List of Laffite's Harbor Development I's Four Largest Unsecured
Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
City of Galveston                                         $1,140
Water Department

ADT Security Services                                       $383

Simplified Accounting & Tax                               $6,198
Service, Inc.

Just Energy                                               $1,566
Email: cssouth@justenergy.com

B. List of Laffite's Harbor Development II's Five Largest Unsecured
Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Poolboy Pool Services, LLC                                $5,234

Simplified Tax &                                          $4,480
Accounting Services

Aran + Franklin Engineering, Inc.                         $2,700
Email: billing@aranfranklin.com

Sunrise Credit Services, Inc.                               $335

Oscar Franco                                                $850

Full-text copies of the petitions are available for free at:

          http://bankrupt.com/misc/txsb17-36191.pdf
          http://bankrupt.com/misc/txsb17-36194.pdf


LAMAR ADVERTISING: Egan-Jones Lowers Sr. Unsecured Ratings to BB+
-----------------------------------------------------------------
Egan-Jones Ratings Company, on August 25, 2017, downgraded the
local currency and foreign currency senior unsecured ratings on
debt issued by Lamar Advertising Co to BB+ from BBB-.

Lamar Advertising is an outdoor advertising company which operates
billboards, logo signs, and transit displays in the U.S, Canada,
and Puerto Rico.


LAW-DEN NURSING: Patient Care Ombudsman Files Sixth Report
----------------------------------------------------------
Deborah L. Fish, the patient care ombudsman appointed for Law-Den
Nursing Home, Inc., filed a sixth report with the U.S. Bankruptcy
Court for the Eastern District of Michigan regarding the status of
the Debtor's quality of patient care covering the period from Sept.
6, 2017, to Oct. 26, 2017.

The PCO reports that there have been no material changes to the
staff at the facility. The Debtor's staffing ratio is in compliance
with State requirements.

The Debtor has also maintained all of its services and is
delivering similar quality care to essentially the same patient
population.

The administrative staff has confirmed that the Debtor has
maintained its relationship with its pre-petition suppliers and
there have been no interruptions in service, nor any changes in
medical supplies. The nursing staff reported that they had all
supplies needed for the residents.

The PCO concludes that the Debtor has continued the same quality of
care post-petition as it did pre-petition. Monitoring will
continue.

A full-text copy of the PCO's Sixth Report dated Oct. 31, 2017, is
available at:

    http://bankrupt.com/misc/mieb16-52058-209.pdf

                 About Law-Den Nursing Home

Law-Den Nursing Home, Inc., filed a Chapter 11 petition (Bankr.
E.D. Mich. Case No. 16-52058) on August 30, 2016.  The petition was
signed by Todd Johnson, administrator. The Debtor is represented by
Clinton J. Hubbell, Esq., at Hubbell Duvall PLLC, in Southfield,
Michigan. The case is assigned to Judge Phillip J. Shefferly. At
the time of its filing, the Debtor estimated assets at $0 to
$50,000 and liabilities at $1 million to $10 million.

The Debtor taps David E. Jerome and the Law Offices of Jerome &
McLean as labor relations counsel, and Michigan Business Advisor as
accountants.

Daniel M. McDermott, United States Trustee for Region 9, submitted
a Notice of Appointment of Patient Care Ombudsman before the United
States Bankruptcy Court for the Eastern District of Michigan naming
Deborah L. Fish as the Patient Care Ombudsman in the bankruptcy
case of Law-Den Nursing Home, Inc.


LBJ HEALTHCARE: PCO Files Ninth Interim Report for Villa Luren
--------------------------------------------------------------
Constance Doyle, the patient care ombudsman for LBJ Healthcare
Partners Inc., filed a ninth interim report for the period of Sept.
1, 2017, through Oct. 31, 2017, finding that all care provided to
the residents at Villa Luren is still within the standard of care.

During her September visit, the PCO notes that the census is down
by three due to acute illness and transfers to higher level of care
facilities. Several applications reviewed with Debtor on possible
admissions that he will evaluate and decide the appropriateness of
individuals for the facility. All areas remain clean and
functional. No change in staff.

The Debtor continues to try to keep costs down and is hopeful for
an end to the bankruptcy as well as the civil case.

In her October visit, the PCO reports that the facility remains
clean and well-tended--even with known areas needing improvement,
such as the roof. Additional discussion occurred regarding
security. No resident attempts to break into medication area and
there are cameras on premise. No reason for the facility to be
targeted by burglars, considering the close observation that is
ongoing and security in place.

The PCO will continue to monitor and is available to respond to any
concerns or questions of the Court or interested party.

A full-text copy of the PCO's Ninth Interim Report dated Nov. 1,
2017, is available at:

    http://bankrupt.com/misc/cacb2-16-15197-260.pdf

               About LBJ Healthcare Partners

Headquartered in Whittier, Calif., LBJ Healthcare Partners Inc.,
formerly doing business as Bayshore Villa Healthcare Partners,
Inc., filed for Chapter 11 bankruptcy protection (Bankr. C.D. Cal.
Case No. 16-15197) on April 21, 2016, disclosing $49,370 in assets
and $1.27 million in liabilities.  The petition was signed by Brian
Buenviaje, president and CEO.

Judge Vincent P. Zurzolo presides over the case.

Robert M. Aronson, Esq., at the Law Office of Robert M. Aronson,
serves as the Debtor's bankruptcy counsel.

Constance Doyle was appointed patient care ombudsman for the
Debtor.


LEGALZOOM.COM INC: Moody's Assigns B3 CFR; Outlook Stable
---------------------------------------------------------
Moody's Investors Service assigned LegalZoom.com, Inc. first time
ratings of a B3 corporate family rating ("CFR"), B3-PD probability
of default rating, B2 to the new first lien credit facilities and
Caa2 to the new second lien term loan. The outlook is stable.

The proceeds from i) a new $335 million first lien term loan and
ii) a new $105 million second lien term loan will be used to i)
repay LegalZoom's existing $178 million first lien term loan A, ii)
pay a $249 million dividend and iii) pay fees and expenses. The new
$40 million revolver (which replaces LegalZoom's existing undrawn
$20 million revolver) is also expected to be undrawn at closing.

RATINGS RATIONALE

The B3 corporate family rating reflects very high debt to adjusted
EBITDA of 8.2x (Moody's adjusted, including giving credit for some
add backs and expensing some capitalized software costs) or 6.2x on
an equivalent debt to cash EBITDA basis, at LTM September 30, 2017.
It also reflects aggressive financial policy, as demonstrated by
majority debt funded shareholder returns of $184 million in 2015
and now approximately $249 million in 2017. Additionally, there is
a related party transaction that has an equity grant and a cash
payment. The transaction is for advisory services provided to
LegalZoom in 2017 by a company that is owned jointly with a
LegalZoom board member and an outside party. Moody's has added
these expenses back to EBITDA as one-time items, resulting in lower
leverage for LegalZoom than if Moody's had not. LegalZoom's scale
is also small, compared to many rated IT services peers, and
LegalZoom has an evolving business model. The ratings are supported
by being a leading online legal services provider, with high
barriers to entry. Support is also gained from its good expected
cash flow generation, good liquidity, low customer concentration
risk and a growing subscription based business which provides
stability of revenues.

Liquidity is good based on FCF expectations in FY 2018.
Additionally, liquidity is supported by cash and cash equivalents
and full availability under the $40 million revolver at closing.
Moody's anticipates ample cushion under the springing financial
covenant applicable to the senior secured first lien revolver. The
first and second lien term loans have no financial covenants. The
first lien term loan has 1% per annum required amortization with a
bullet due at maturity. The second lien term loan does not
amortize, but instead has a bullet due at maturity.

The stable outlook reflects Moody's expectation of FYE 2018 free
cash flow to debt in the mid-single digits and debt to adjusted
EBITDA will improve to the low 7x (or mid 5x on a cash basis),
absent additional debt financed dividends or acquisitions, and have
mid to high single digit revenue growth.

The ratings could be upgraded if the company sustains FCF to debt
above 5% and debt to adjusted EBITDA below 5.5x, while committing
to a non-aggressive financial policy.

Leverage is currently very high at 8.2x and the ratings could face
downward pressure if debt to adjusted EBITDA is not decreased below
7x or FCF was negative on other than a temporary basis.

The following ratings were assigned:

Issuer: LegalZoom.com, Inc.

Corporate Family Rating, B3

Probability of Default Rating, B3-PD

First lien revolving credit facility, B2 (LGD3)

First lien term loan, B2 (LGD3)

Second lien term loan, Caa2 (LGD5)

The principal methodology used in these ratings was Business and
Consumer Service Industry published in October 2016.

LegalZoom.com, Inc. ("LegalZoom"), headquartered in Glendale, CA,
is the leading online legal services provider, facilitating access
to legal services for small businesses, families and individuals.
LegalZoom is owned by private equity firm Permira (its biggest
shareholder), Institutional Venture Partners XIII LP, Kleiner
Perkins, other miscellaneous investors and management.


LEGALZOOM.COM INC: S&P Gives B- Corp Credit Rating, Outlook Stable
------------------------------------------------------------------
S&P Global Ratings assigned its 'B-' corporate credit rating to
Glendale, Calif.-based LegalZoom.com Inc. The outlook is stable.

S&P said, "We also assigned our 'B' issue-level rating and '2'
recovery rating to the company's senior secured credit facilities,
which consist of a $40 million revolving credit facility expiring
in 2022 and $335 million term loan maturing in 2024. The '2'
recovery rating indicates our expectation for substantial recovery
of principal (70% to 90%, rounded estimate: 70%) in the event of
default.

"In addition, we assigned our 'CCC' issue-level rating and '6'
recovery rating to the company's $105 million second-lien term loan
expiring in 2025. The '6' recovery rating indicates our expectation
for (0% to 10%; rounded estimate: 0%) negligible recovery of
principal in the event of default.

"Our 'B-' corporate credit rating on LegalZoom represents our view
of the company operating in a highly fragmented legal service
market, its small scale relative to other similarly rated
companies, relatively low barriers to entry, and high leverage of
about 9x at transaction close. Partially offsetting these factors
are the company's recurring revenues base of about 60% of total
revenues and good brand recognition.

"The stable outlook on LegalZoom reflects our expectation over the
next 12 months for the company to achieve revenue growth in the
high-single-digit percentage area, and moderate margin expansion
through a mix shift toward high margin products and higher ARPU. We
anticipate leverage around 9x at transaction close with modest
deleveraging through EBITDA growth to bring leverage to the high-7x
area by the end of 2018.

"We could raise the rating over the next 12 months if the company
demonstrates strong operating performance and deleveraging through
EBITDA growth, such that debt to EBITDA is sustained below 7.5x, or
free operating cash flow to debt is sustained in the mid to
high-single-digit percentage range.

"We could consider a downgrade over the next 12 months if weak
operating performance results in negative FOCF, or if we consider
the capital structure to be unsustainable, which would be caused by
the loss of subscribers, greater than expected competitive
pressures, or regulatory risk factors."


LIBBEY GLASS: Moody's Lowers CFR to B2; Outlook Stable
------------------------------------------------------
Moody's Investors Service downgraded the Corporate Family Rating
(CFR) and Probability of Default Rating (PDR) of Libbey Glass Inc.
to B2 from B1 and to B2-PD from B1-PD, respectively. As a result of
this rating action, the company's $440 million principal first lien
term loan due 2021 was downgraded one notch to B2 from B1. The
company's SGL-2 Speculative Grade Liquidity rating was affirmed.
The ratings outlook remains stable.

The downgrade is largely driven by a deterioration in Libbey's
credit metrics and Moody's expectation that metrics will remain
more in line with the B2 rating category. The company's leverage
(debt-to-EBITDA) and interest coverage (EBIT-to-interest) for the
twelve months ended September 30, 2017 were approximately 6.1 times
and 1.0 time, respectively (all ratios are Moody's adjusted unless
otherwise stated). This EBITDA calculation includes $83 million of
add-backs for non-recurring charges which is primarily comprised of
an $80 million one-time non-cash goodwill impairment charge
associated with the Latin America segment.

Moody's expects that the company will continue to maintain at least
a good liquidity profile over the next 12 -- 18 months supported by
its largely undrawn $100 million ABL facility, expectations for
marginally positive free cash flow generation in fiscal 2018, and
healthy cash balances.

According to Moody's Vice President Brian Silver, "Libbey has
experienced a number of operational challenges over the last few
years that have impacted both its top-line and profitability. Some
issues were non-recurring, including a workplace strike and the
impact from natural disasters, while others are reflective of
ongoing challenges, such as persistent industry headwinds stemming
from overcapacity in the glassware space and declining customer
traffic in retail stores and restaurants. Management is attempting
to address these challenges by building out the company's
e-commerce platform, rolling out new products, and evaluating the
company's global manufacturing base for potential rationalization
over time."

The following ratings have been downgraded at Libbey Glass Inc.:

-- Corporate Family Rating to B2 from B1

-- Probability of Default Rating to B2-PD from B1-PD

-- $440 million principal senior secured first lien term loan B
    due 2021 to B2 (LGD3) from B1 (LGD3)

The following rating has been affirmed at Libbey Glass Inc.:

-- SGL-2 Speculative Grade Liquidity Rating

The ratings outlook remains stable.

RATINGS RATIONALE

Libbey's B2 CFR is largely supported by its significant presence in
the North American foodservice and retail glassware markets, but it
also recognizes the challenges being faced by the company's
customers in those markets. Libbey is also currently highly
leveraged, modestly sized, has a narrow product focus in a mature
industry, and is subject to elevated operational risk and high
fixed costs associated with manufacturing the vast majority of its
glassware products in-house. In addition, Libbey competes in a
highly competitive industry where a number of competitors are in a
weaker financial position, which has driven some irrational pricing
behavior in the marketplace and pressured pricing and margins.
However, the company has a good geographic presence and maintains a
healthy customer diversification profile. Libbey has also been
exercising relatively balanced financial policies in response to
the challenging environment in which it operates, including the
prioritization of debt repayment using free cash flow. However, the
company continues to pay quarterly dividends to shareholders
(roughly $10 million per annum), payments that could otherwise go
toward additional debt repayment. Credit metrics weakened
considerably over the last year resulting from the challenging
operating environment, the under absorption of overhead associated
with planned furnace rebuilds, a work stoppage strike at its Toledo
plant in 4Q16, increased spending associated with the company's
e-commerce initiative, and most recently the impact from natural
disasters (hurricanes in the US and earthquakes in Mexico). Credit
metrics will remain under pressure owing to the difficult
competitive environment, but new products and enhanced e-commerce
platform will help offset some of the weakness.
The stable outlook anticipates limited organic revenue growth and
moderate margin improvement over the next 12-18 months while the
company continues to voluntarily repay debt with free cash flow.
Moody's also expect the company will continue to maintain at least
a good liquidity profile.

The ratings could be downgraded if Moody's adjusted debt-to-EBITDA
is sustained above 6.5 times, EBIT-to-interest expense is sustained
below 1.1 times, the company generates negative free cash flow,
liquidity deteriorates, or financial policies become more
aggressive. Alternatively, the ratings could be upgraded if Moody's
adjusted debt-to-EBITDA approaches 4.5 times or EBIT-to-interest
expense approaches 2.0 times.

The principal methodology used in these ratings was Consumer
Durables Industry published in April 2017.

Libbey Glass Inc. ("Libbey"), headquartered in Toledo, Ohio,
designs, manufactures and markets glass tableware products and
designs and markets ceramic dinnerware and flatware products.
Libbey Glass Inc. is the operating subsidiary of Libbey Inc. (NYSE:
LBY). The company serves foodservice, retail, and
business-to-business customers in over 100 countries. Libbey
reported total revenues of approximately $767 million for the
twelve-month period ended September 30, 2017.


LIBBEY INC: S&P Cuts CCR to B on Weak Industry & Operating Trends
-----------------------------------------------------------------
Libbey Inc. reported third-quarter results that were below S&P
Global Ratings' previous expectations as unfavorable industry
trends and higher e-commerce  investments put pressure on margins.
S&P now expects Libbey will sustain  debt leverage above 5x during
the next 12 months.

S&P Global Ratings thus lowered its corporate credit rating on
Toledo, Ohio-based Libbey Inc. to 'B' from 'B+'. The outlook is
stable. S&P said, "At the same time, we lowered our issue-level
rating on the company's $440 million term loan B due in 2021 to 'B'
from 'BB-' and revised our recovery rating to '3' from '2',
indicating our expectation for meaningful (50%-70%; rounded
estimate: 50%) recovery in the event of a payment default.

"We estimate the company had $539.5 million of adjusted debt
outstanding as of Sept. 30, 2017.

"The downgrade reflects our expectation for operating margins to
remain suppressed and leverage to be elevated above 5x through 2018
largely due to unfavorable industry trends and higher investment in
its e-commerce platform.

"We expect Libbey to generate minimal free operating cash flow
(FOCF) for the fiscal year ending December 2017, but still expect
the company to fund the roughly $10 million annual dividend to
shareholders, leaving the company with no discretionary cash flow
for debt repayment. We also expect a substantial decline in EBITDA
for fiscal 2017 as sales have declined across every business
channel but costs remain elevated because of increased investments
in technology and the company's large fixed manufacturing overhead.
In the third quarter, the company also experienced some one-time
headwinds related to recent hurricanes. The company also took a
noncash impairment charge of nearly $80 million on its Latin
America segment, indicating expected weaker trends in that region.
We estimate that adjusted debt leverage will be near 5.5x at the
end of 2017 as compared with about 4x at year-end 2016. Through the
first nine months of the year, EBITDA has dropped 47% compared to
the same period of 2016 and we forecast EBITDA for the year to drop
at least 20% from 2016. We expect improvement during the fourth
quarter of 2017 as the company laps the financial consequences of a
labor strike during the same period in 2016.

"The stable outlook reflects our expectation that the company will
continue to generate sufficient operating cash flow in order to
maintain adequate liquidity. We expect debt leverage to remain
between 5.0x and 5.5x during the next year.

"We could lower the ratings if the industry remains challenged and
the company's profitability worsens to the point where free
operating cash flow is sustained at negative levels or if the
company loses significant market share in its foodservice and
retail businesses, resulting in debt leverage sustained approaching
7x. We could also lower the ratings if the company shifts to more
aggressive financial policies whereby shareholder-friendly uses of
cash (such as dividends or share repurchases) are prioritized over
debt repayment.

"While unlikely during the next 12 months, we could raise the
ratings if industry trends improve and the company improves
profitability or prepays debt and we come to expect leverage to be
sustained below 5x. This can be achieved if the company's
e-commerce initiative is successful, the company is able to
diversify its product portfolio, and if the company is able to
improve its cost structure, thereby improving product mix and
operating margins."


LIONS GATE: Egan-Jones Hikes Sr. Unsec. Ratings to BB-
------------------------------------------------------
Egan-Jones Ratings Company, on August 24, 2017, raised the local
currency and foreign currency senior unsecured ratings on debt
issued by Lions Gate Entertainment Corp. to BB- from B+.

Lions Gate Entertainment Corporation, also known as Lions Gate
Entertainment, Inc., and often shortened to Lionsgate, is a
Canadian-American entertainment company.


MJM DEVELOPMENT: Case Summary & 5 Unsecured Creditors
-----------------------------------------------------
Debtor: MJM Development, LLC
        14 Perry Street
        Stamford, CT 06902

Type of Business: MJM Development, LLC is a privately held company

                  in Stamford, Connecticut engaged in real estate
                  development.  The company's principal place of
                  business is located at 165-171 Stillwater
                  Avenue, 17 Stillwater Place, Lot 3 Stillwater
                  Place Stamford, CT 06902.  MJM Development
                  previously sought bankruptcy protection on Nov.
                  27, 2012 (Bankr. D. Conn. Case No. 12-52118).

Chapter 11 Petition Date: November 7, 2017

Case No.: 17-51361

Court: United States Bankruptcy Court
       District of Connecticut (Bridgeport)

Judge: Hon. Julie A. Manning

Debtor's Counsel: Scott M. Charmoy, Esq.
                  CHARMOY & CHARMOY
                  1700 Post Road, Suite C-9
                  P.O. Box 804
                  Fairfield, CT 06824
                  Tel: (203) 255-8100
                  Fax: 203-255-8101
                  E-mail: scottcharmoy@charmoy.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Miguel A. Juarez, operating manager.

A full-text copy of the petition, along with a list of five
unsecured creditors, is available for free at
http://bankrupt.com/misc/ctb17-51361.pdf


NATGASOLINE LLC: S&P Places 'BB-' Rating on CreditWatch Negative
----------------------------------------------------------------
S&P Global Ratings said it placed its 'BB-' project finance credit
rating on Natgasoline LLC on CreditWatch with negative
implications. The recovery rating of '1' is unchanged, reflecting
our expectation of very high (90%-100%; rounded estimate: 95%)
recovery in the event of default.

Of note, although only approximately $253 million of debt is
outstanding and rated, S&P rates on the expectation of a draw of
the remaining permissible credit facilities.

S&P said, "The CreditWatch placement reflects recent events that
have slowed construction of the Natgasoline LLC facility. The
project is now materially behind our expectations, and we expect
that construction, which we had previously believed would be
completed in late 2017, will now be pushed into the first half of
2018; the April 1, 2018 debt service will be made from funds
earmarked in the project's contingency and not from operating cash
flow, as we had previously envisioned. This is required by the
credit agreement."

Several problems have delayed construction. Most recently, the site
was closed down for a short time due to the impacts of Hurricane
Harvey. While no permanent damage occurred at the site, personnel
were off the premises for a period of time, resulting in further
delays to construction; this was not uncommon among Gulf Coast
in-construction projects, where labor can be in short supply at
times. In addition, a number of change orders that were unforeseen
at the beginning of construction added to the cost total; while
this amount does not exceed the contingency amount by itself, taken
with the potential for future cost overruns (and required funding
of upcoming debt service), the issuer will need additional funding
before the start of commercial production. Notably, the plant has
also used some of its initial budget to purchase spare parts
inventory, which we initially believed would be funded through
operating cash flow.

S&P said, "Despite these impacts, we expect that the project will
not run afoul of debt service repayment dates. There is still some
headroom built in assuming use of the contingency to fund the next
debt service payment, and we expect that once the project is
operational, it will quickly begin earning cash flow, even in spite
of immediate working capital funding needs. We continue to expect
that the project will have sufficient funding to complete
construction, funding commitments from G2X. Cost overruns are
likely to be funded through additional equity injections from the
sponsors. However, should it face further delays, we could revisit
this assessment and lower the rating by a notch or two depending on
the limitation. Alternatively, if the construction is completed
within the next few months, we could revise the outlook to stable
after construction completion, depending on our then-current
forecast for the methanol market going forward."

The CreditWatch placement reflects the possibility that the rating
could be lowered by a notch in the next few months with further
delays in the construction schedule. S&P will resolve the
CreditWatch once it has more clarity regarding the completion date,
which it now expects to be in the early part of 2018.


NATIONAL VISION: S&P Raises CCR to 'B+' on Improved Credit Metrics
------------------------------------------------------------------
S&P Global Ratings raised its corporate credit rating on Duluth,
Ga.-based National Vision Inc. (NVI) to 'B+' from 'B'. The outlook
is stable.

S&P said, "In addition, we raised our issue-level rating on the
first-lien credit facility to 'B+' from 'B' and revised the
recovery rating to '3' from '4'. The '3' recovery rating reflects
our expectation for meaningful (50% to 70%; rounded estimate: 65%)
recovery of principal in the event of a payment default. The credit
facility includes the company's proposed $570 million first-lien
term loan due 2024 and existing $100 million revolver due 2022."

NVI used $360 million of IPO proceeds to pay down the existing
first-lien term loan by $235 million and fully repay its $125
million second-lien term loan. As a result, S&P withdrew its
ratings on the second-lien term loan.

S&P said, "The upgrade reflects improved credit protection measures
after the company used IPO net proceeds to reduce debt by $360
million and our belief that the risk of re-leveraging is low. We
forecast adjusted debt to EBITDA to the mid-3x area and adjusted
FFO to debt around 20% over the next 12 months. We do not expect
the company to incur any debt-funded shareholder initiatives, which
could impair credit protection measures. Our base-case forecast
includes moderately improving operating performance and higher
in-store traffic as a result of the company's focus on its flagship
brands, America's Best Contacts & Eyeglasses (ABC) and Eyeglass
World (EGW). In addition, we expect some stability in its margins
as the company continues to benefit from its product mix and
maturation of its existing store base."

The stable outlook reflects expected moderate improvement of credit
protection measures through organic growth. S&P does not anticipate
significant deterioration in operational performance and expect the
company to continue growing as it leverages its ABC and EQW store
footprint.

S&P said, "We could lower the rating on NVI if leverage increases
above the 5x area. In this scenario, the company fails to leverage
its existing Wal-Mart relationship or slows the growth of its ABC
and EGW locations hurting margins and the company has no cash flow
generation. We would also consider an outlook revision in the event
of a debt-funded shareholder returns or operating performance
erosion, should EBITDA margins decline 200 bps due to an increasing
competitive environment.

"Longer term, we will consider an upgrade if the company maintains
more meaningful scale and geographic diversity that leads to
stronger cash flow generation that is comparable to other BB- rated
retail peers, debt leverage in the low-3x area, and adjusted
FFO/Debt in the 20% to 30% range as a result of successful
execution of management's growth strategy and private equity
sponsor ownership decline."


NAVISTAR INT'L: Fitch Rates New $1.6BB Term Loan 'BB-'
------------------------------------------------------
Fitch Ratings has assigned a rating of 'BB-/RR1' to Navistar,
Inc.'s new $1.6 billion term loan and upgraded Navistar
International Corporation's (NAV) recovery zone facility revenue
bonds issued by the Illinois Finance Authority and Cook County,
Illinois to 'B+'. The Rating Outlook is Stable.

The new $1.6 billion secured term loan matures in 2024 and is
guaranteed by NAV. Funds are being used to repay an existing $1
billion term loan due 2020 and help refinance a portion of NAV's
$1.45 billion of 8.25% senior unsecured notes due 2021. Additional
funds to repay the 8.25% notes were provided by the recent issuance
of $1.1 billion of eight-year 6.625% senior unsecured notes. More
than 72% of the notes have been tendered under a tender offer and
consent solicitation launched Oct. 20, 2017 for the 8.25% notes.
NAV intends to redeem the remaining notes on Nov. 10, 2017.

As part of its debt refinancing, NAV amended its recovery zone
facility revenue bonds issued by the Illinois Finance Authority and
Cook County, Illinois to include a second lien on certain
collateral that secures the term loan. The coupon increased to
6.75% from 6.5%. Fitch's upgrade of the recovery zone bonds to 'B+'
from 'B-' reflects their improved recovery prospects in a distress
scenario. The bonds have a junior lien position behind the term
loan, although Fitch believes they could potentially see a full
recovery.

Excess proceeds from NAV's refinancing would be available to
repurchase or repay at maturity a portion of NAV's $200 million
4.5% subordinated convertible notes due 2018.

KEY RATING DRIVERS

Fitch expects NAV's debt and leverage could be nearly unchanged or
increase slightly following the completion of its refinancing
plans. Fitch views NAV's liquidity as manageable in the near term,
but additional debt maturities of $411 million in 2019 and any
remaining amounts outstanding under the 4.5% subordinated
convertible notes due 2018 may need to be refinanced in the absence
of a return to positive FCF. Leverage remains high, including
debt/EBITDA of 8.9x as calculated by Fitch as of July 31, 2017, and
free cash flow on a trailing 12 month basis continues to be
negative.

Cash and marketable securities at the manufacturing operations of
$923 million as of July 31, 2017 could be flat to slightly higher
at the end fiscal 2017 compared to the end of fiscal 2016. This
level would be adequate to fund seasonally negative operating cash
flow in the first fiscal quarter of 2018 (negative $275 million in
1Q17 as calculated by Fitch). Warranty cash spending continues to
improve, but pension contributions are expected to increase. NAV
expects to contribute approximately $113 million to its pension
plans in 2017 and $130 million to $190 million annually from 2018
through 2020. The net pension obligation was $1.7 billion (57%
funded) at Oct. 31, 2016.

Negative free cash flow (FCF) continues to be a key rating concern.
Fitch estimates FCF will improve but will remain negative in 2017
and possibly again in 2018. However, the heavy duty truck market
has been improving, and NAV could generate stronger FCF than
estimated by Fitch if the company is able to recover market share
and generate higher margins. NAV has continued to invest in new
product development which should support its competitive position.
The company's alliance with VW T&B includes collaboration on
powertrain and other technologies and a procurement joint venture
(JV) which should enhance NAV's cost structure and product
development.

Under its criteria for rating non-financial corporates, Fitch
calculates an appropriate debt/equity ratio of 3x at Financial
Services based on asset quality as well as liquidity and funding
that incorporate support from NAV in the form of funding. Actual
debt/equity at Financial Services as measured by Fitch, including
intangible assets, was 3.6x as of July 31, 2017. As a result, Fitch
calculates a pro forma equity injection of slightly less than $100
million would be needed to reduce debt/equity to 3x at Financial
Services. Fitch assumes NAV would fund its equity injection through
the use of excess cash or new debt, which Fitch includes in debt at
the manufacturing business. This Fitch-calculated debt amount is
higher than actual debt outstanding.

DERIVATION SUMMARY

NAV has a weaker financial profile, including margins, free cash
flow and liquidity, than other large heavy duty truck OEMs which
puts it at a disadvantage with respect to financial flexibility and
the ability to invest in the business. Several OEMs including
Daimler, Volkswagen and Volvo are affiliates of global vehicle
manufacturing companies which gives them greater access to
financial and operational resources and markets compared to NAV.
NAV's alliance with VW T&B partly addresses this difference. More
than three-fourths of NAV's revenue was located in North America,
which makes it more sensitive to industry cycles compared to
competing OEMs that have greater geographic diversification.

NAVISTAR FINANCIAL CORPORATION

Fitch believes NFC is core to NAV's overall franchise. Thus the IDR
of the finance subsidiary is equalized with, and directly linked to
that of its ultimate parent due to the close operating relationship
and importance to NAV, as substantially all of NFC's business is
connected to the financing of dealer inventory and trucks sold by
NAV's dealers. The relationship is formally governed by the Master
Intercompany Agreement, as well as a provision referenced under
NFC's credit agreement requiring NAV or NIC to own 100% of NFC's
equity at all times.

NFC's operating performance and overall credit metrics are viewed
by Fitch to be neutral to NAV's ratings. The company's performance
has not changed materially compared to Fitch's expectations, but
its financial profile remains tied to NAV's operating and financial
performance. Through the first nine months of FY2017 (9M17), total
financing revenue decreased by 16.4%, driven by lower overall
finance receivables balances and partially offset by higher
interest rates on finance receivables. In 9M17, the average finance
receivable portfolio balance decreased to $1.1 billion from $1.4
billion in 9M16. However, at July 31, 2017, the company's ending
finance receivables balance grew by $74.2 million, or 5.9%, from
FYE-2016.

Asset quality remained within Fitch's expectations throughout 2017.
Charge-offs and provisions have been relatively stable as NFC
continues to focus on its wholesale portfolio, which historically
has experienced lower loss rates compared to the retail portfolio.

KEY ASSUMPTIONS

Fitch's key assumptions within the current rating case for NAV's
manufacturing business include:

-- NAV's manufacturing revenue is flat in 2017 and increases
    in 2018 as industry demand improves;
-- New product introductions support NAV's market share, which
    increases slightly in 2018 and could gain more traction in
    subsequent years;
-- FCF remains negative in 2017 and possibly into 2018;
-- EBITDA margins continue to improve;
-- NAV refinances scheduled debt maturities in 2018 and 2019;
-- Warranty cash costs decline but remain above warranty expense;

    warranty expense, excluding adjustments to pre-existing
    warranties, remains below 3% of revenue.
-- The recovery analysis for NAV reflects Fitch's expectation
    that the enterprise value of the company, and recovery rates
    for creditors, would be maximized as a going concern rather
    than through liquidation. Fitch has assumed a 10%
    administrative claim.
-- The going concern EBITDA is based on Fitch's projected EBITDA
    in 2018 which incorporates stabilized revenue and margins at
    mid-cycle, and limited recovery of market share. Going concern

    EBITDA is higher than historical EBITDA in recent years.
    Previously, EBITDA was reduced by the negative impact of
    charges for restructuring, warranty and other items while NAV
    re-set its engine strategy and realigned operations to focus
    on core markets.
-- An EBITDA multiple of 5x is used to calculate a post-
    reorganization valuation, below the 6.4x median for the
    industrial and manufacturing sector. The multiple incorporates
    cyclicality in NAV's heavy duty truck market and uncertainty
    around its future recovery of market share which is well below
    historical levels due to a failed engine emissions strategy
    several years ago. The multiple also considers the highly
    competitive nature of the heavy duty truck market and NAV's
    smaller size compared to large global OEMs.
-- Fitch assumes a fully used ABL facility, excluding a liquidity
    block, primarily for standby letters of credit that could be
    utilized during a distressed scenario.
-- The secured term loan is rated 'BB-/RR1', three levels above
    NAV's IDR, as Fitch expects the loan would recover more than
    90% in a distressed scenario based on a strong collateral
    position. The 'RR4' for senior unsecured debt reflects average
    recovery prospects in a distressed scenario. The 'RR6' for
    senior subordinated convertible notes reflects a low priority
    position relative to NAV's other debt.

RATING SENSITIVITIES

Navistar International Corporation

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

-- Consistently higher EBITDA margins that lead to positive FCF
    and lower leverage;
-- NAV's retail market share recovers to a level near 20% for
    combined Class 8 heavy and severe service trucks (11% in 2016)
    and 30% for medium-duty trucks (21% in 2016);
-- Liquidity improves sufficiently to reduce outstanding debt.

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

-- Working capital or other cash requirements appear likely to
    exceed NAV's available liquidity;
-- Manufacturing EBITDA margins as calculated by Fitch decline
    materially from 4.8% in 2016;
-- FCF does not become positive on an LTM basis during 2018;
-- There is a material adverse outcome from litigation.

Navistar Financial Corporation

NFC's ratings are expected to move in tandem with its parent.
Therefore, positive rating momentum will be limited by Fitch's view
of NIC's credit profile. However, negative rating actions could be
driven by a change in the perceived relationship between NFC and
its parent. Additionally, a change in profitability leading to
operating losses, a material change in leverage, and/or
deterioration in the company's liquidity profile could also yield
negative rating actions.

The rating on NFC's senior secured bank credit facility is
sensitive to changes in NFC's IDR, as well as the level of
unencumbered balance sheet assets in a stress scenario, relative to
outstanding debt.

Fitch does not envision a scenario where NFC would be rated higher
than the parent.

LIQUIDITY

Navistar International Corporation

Liquidity at NAV's manufacturing business as of July 31, 2017
included cash and marketable securities totaling $923 million, net
of restricted cash. NAV had limited availability under a $125
million asset-backed lending (ABL) facility. NAV's cash was
supplemented in 2017 by $250 million of incremental debt issuance
and the $256 million equity investment by VW T&B.

Liquidity was offset by current maturities of manufacturing
long-term debt of $114 million. In addition to the ABL, NAV uses an
Intercompany Used Truck Loan from NFC under which $53 million was
outstanding. NAV had other outstanding intercompany loans totaling
$63 million from Financial Services. In recent years, NAV has
received funding from NFC including loans, dividends and return of
capital, but net funding has declined. Fitch does not include
intercompany loans from Financial Services in manufacturing debt,
and leverage would be higher when including these liabilities.

Navistar Financial Corporation

While Fitch views NFC's current liquidity as adequate given
available resources and the company's continued ability to
securitize originated assets, liquidity may become constrained if
the parent materially increases its reliance on NFC to fund
operations or if NFC is unable to refinance a sufficient amount of
debt on economical terms.

As of July 31, 2017, NFC had $24 million of unrestricted cash and
approximately $285 million of availability under its various
corporate and ABS borrowing facilities (subject to collateral
requirements). Fitch views favorably NFC's ability to refinance a
portion of its borrowing facilities and access the capital markets
at reasonable terms, which should mitigate some potential near-term
liquidity concerns.

As of July 31, 2017 debt at NAV's manufacturing business totaled
$3.6 billion as adjusted by Fitch, including unamortized discount
and debt issuance costs, and $1.8 billion at the Financial Services
segment, the majority of which is at NFC.

FULL LIST OF RATINGS

Fitch has assigned the following ratings:

Navistar, Inc.
-- Senior secured term loan due 2024 'BB-/RR1'.

Fitch has upgraded the following ratings:

Cook County, Illinois
-- Recovery zone revenue facility bonds (Navistar International
    Corporation Project) series 2010 to 'B+' from 'B-'.

Illinois Finance Authority (IFA)
-- Recovery zone revenue facility bonds (Navistar International
    Corporation Project) series 2010 to 'B+' from 'B-'.

Fitch's existing ratings for Navistar are as follows:

Navistar International Corporation
-- Long-Term IDR 'B-';
-- Senior unsecured notes 'B-/RR4;
-- Senior subordinated notes 'CCC/RR6'.

Navistar, Inc.
-- Long-Term IDR 'B-';
-- Senior secured term loan due 2020 'BB-/RR1'.

Navistar Financial Corporation
-- Long-Term IDR 'B-';
-- Senior secured bank credit facility 'B/RR3'.

The Rating Outlook Is Stable.


OCONEE REGIONAL: Intends to File Chapter 11 Plan by December 21
---------------------------------------------------------------
Oconee Regional Health Systems, Inc., and its affiliates ask the
U.S. Bankruptcy Court for the Middle District of Georgia to extend
by 45 days the exclusive periods for the Debtors to (a) file a
disclosure statement and plan through December 21, 2017, and (b)
obtain acceptance of a plan through February 19, 2018.

Since the Debtors' prior motion to extend their exclusive periods,
the Debtors have accomplished these:

     (a) The Debtors sold substantially all of their assets to
Navicent Health, Inc.  The Section 363 Sale closed as to the
Debtors' operating assets effective as of October 1, 2017.

     (b) The Debtors completed repaying the Debtors' post-petition
financing and reserving funds under the prior cash collateral
orders to pay what the Debtors' estimate to be all post-petition
administrative claims (other than professional fees);

     (c) Assumed and assigned all contracts required as part of the
sale;

     (d) Properly rejected all contracts not required by the
Debtors' buyer, or needed for the wind-down;

     (e) Made progress on various wind-down tasks, including
transitioning assets, identifying further assets for the benefit of
creditors, and started winding down all insurance policies and
programs.

While it remains unclear if a plan can be confirmed in these cases,
if that is possible, then more time is needed to formulate,
negotiate, and insure implementation of a reasonable and effective
plan, if possible.

The Debtors are not seeking an extension of the exclusive periods
to pressure creditors, and the Debtors are open to a consensual
process that will arrive at a Chapter 11 plan.  If that cannot be
had in short order, then the Debtors will work with their key
creditor constituencies to determine if another consensual way to
transition out of Chapter 11 is possible.

              About Oconee Regional Medical Center

Oconee Regional Medical Center (ORMC) is located in Milledgeville
near the geographic center of Georgia, providing advanced
healthcare technologies to the 90,000 residents living in the seven
surrounding counties.

Oconee Regional Health Systems, Inc., owner of the Oconee Regional
Medical Center, and six of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. M.D. Ga. Lead Case No. 17-51005) on
May 10, 2017.

On May 11, 2017, two more affiliates ORHV Sandersville Family
Practice, LLC and Oconee Regional Senior Living, Inc., sought
bankruptcy protection.  Their cases are jointly administered with
that of ORMC.

The petitions were signed by Steven M. Johnson, interim chief
executive officer.

At the time of the filing, ORHS estimated assets of less than
$50,000 and liabilities of less than $500,000.

The Debtors are represented by Mark I. Duedall, Esq., and Leah
Fiorenza McNeill, Esq., in Atlanta, Georgia.  The Debtors hired
James-Bates-Brannan-Groover-LLP as special counsel, and Grant
Thornton as financial advisor.

On May 16, 2017, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors.  Greenberg Traurig, LLP,
is the committee's bankruptcy counsel.  The committee hired the Law
Offices of Henry F. Sewell, Jr., LLC, as its special counsel.


OECONNECTION LLC: Moody's Assigns B3 CFR; Outlook Stable
--------------------------------------------------------
Moody's Investors Service assigned the following ratings to
OEConnection LLC ("OEC"): B3 Corporate Family Rating ("CFR"); B3-PD
Probability of Default; B2 instrument ratings to new first-lien
credit facilities including a $35 million revolver and a $300
million Term Loan B, and; Caa2 instrument rating to a new, $100
million second-lien term loan. Proceeds from the term loans as well
as cash on hand will be used to refinance $266 million of existing
OEC debt, pay a $135 million dividend distribution to OEC's owners,
and satisfy transaction fees and expenses. The outlook is stable.

Assignments:

Issuer: OEConnection LLC

-- Probability of Default Rating, Assigned B3-PD

-- Corporate Family Rating, Assigned B3

-- Senior secured first-lien bank credit facilities maturing 2023

    and 2024, Assigned B2; LGD3

-- Senior secured second-lien bank credit facility maturing 2025,

    Assigned Caa2; LGD5

Outlook Actions:

-- Outlook, Stable

RATINGS RATIONALE

The B3 CFR primarily reflects very high, approximately 8.4 times
debt-to-EBITDA leverage (including Moody's standard adjustments)
expected at closing of the transaction, and Moody's belief that the
measure will moderate slowly over the next twelve to eighteen
months, as organic revenues continue to grow at mid- to
upper-single-digit-percentage rates and EBITDA grows slightly more
quickly. OEC has pronounced customer dependency, as original
equipment manufacturers ("OEMs") Ford and GM and, mainly, their
thousands of related U.S.- and Canada-based dealerships generate
some three quarters of total revenue through subscriptions to OEC's
SaaS offerings. Although this dependency creates risks, Ford's and
GM's equity ownership in OEC and the relatively modest fees they
pay to OEC, as well as the number and diversity of dealerships,
support the notion that the relationship should prove durable. OEC
also faces integration risks as the result of a June 2017
acquisition of Clifford Thames ("CT"), a relatively large,
weaker-margined, UK-based automotive-parts-data supplier. Even with
the acquisition, Moody's expects OEC's 2017 revenue base to be
about $130 million, quite small relative to B3-rated peers. A
subscription sales model with strong subscriber and revenue
retention rates provides good top line visibility.

OEC has an attractive niche as a high-margin provider of SaaS-based
solutions and data that allow auto dealers and OEMs to efficiently
identify, locate, price, and sell OEM parts in order to complete
automotive repair services. It has grown well since its founding in
2000, albeit off a revenue base of effectively nothing. Although
OEC operates in a huge, $750 billion market for auto parts used to
replace damaged or worn parts, the large majority of those parts is
sourced by automotive aftermarket suppliers versus by OEMs
themselves. The roughly 30/70 mix between OEM and aftermarket parts
suppliers has changed little over the years, and Moody's believes
growth may be limited by virtue of the marketplace's relative
reluctance to purchase OEM replacement parts, which, despite their
advantages of quality and fit, are simply more expensive than
aftermarket parts. The CT acquisition allows for customer and
geographic diversification as well as cross-selling opportunities,
which support Moody's expectations for healthy intermediate-term
revenue growth.

The stable outlook reflects Moody's expectations for only modest
deleveraging, to just below 8.0 times by year-end 2018, but
continued steady, mid- to upper-single digit percentage revenue
gains over the next twelve to eighteen months. Moody's views OEC's
liquidity as good, with moderate opening balance sheet cash, an
undrawn $35 million revolver, and Moody's expectations for annual
free cash flow over the next twelve to eighteen months of close to
$20 million, which as a percentage of debt approaches the
mid-single digits, good for the rating. The ratings could be
upgraded if stronger-than-anticipated revenues enable OEC to build
meaningful scale; if Moody's adjusted debt-to-EBITDA leverage is
sustained below 6.0 times; and if the company, which is PE-owned,
can demonstrate a track record of conservative financial policies.
The ratings could be downgraded if debt-to-EBITDA doesn't show
progress towards improving to 8.0 times or better by the end of
2018, if revenue growth falls to low-single-digit percentages, or
if Moody's expects free-cash-flow-to-debt will approach
low-single-digit percentages.

With Moody's expected 2018 revenues of approximately $140 million,
OEConnection provides end-to-end cloud-based platforms to,
primarily, automotive dealers as well as automotive OEMs that allow
them to efficiently identify, locate, and price original equipment
parts for the completion of automotive repair services. As a result
of the mid-2017 acquisition of Clifford Thames, OEC also helps
create and manage electronic parts catalogues and databases needed
by manufacturers, repairers, and leasing and fleet companies to
repair and maintain vehicles.

The principal methodology used in these ratings was Software
Industry published in December 2015.


OECONNECTION LLC: S&P Assigns 'B-' CCR On Proposed Refinancing
--------------------------------------------------------------
S&P Global Ratings said it assigned its 'B-' corporate credit
rating to Richfield, Ohio-based OEConnection LLC. The outlook is
stable.

S&P said, "At the same time, we assigned our 'B-' issue-level
rating and '3' recovery rating to the company's $335 million
first-lien credit facility, consisting of a $35 million revolving
credit facility due 2023 and a $300 million first-lien term loan
due 2024. The '3' recovery rating indicates our expectation of
meaningful (50%-70%; rounded estimate: 60%) recovery in the event
of a default. We also assigned our 'CCC' issue-level rating and '6'
recovery rating to the company's $100 million second-lien term loan
due 2025. The '6' recovery rating indicates our expectation of
negligible (0%-10%; rounded estimate: 5%) recovery in the event of
a default."

The rating on OEConnection reflects key credit risks including the
company's niche product offerings, small scale relative to rated
software peers, and heavy dependence on GM and Ford. Partly
offsetting these risks are the company's strong market position
within its niche and solid track record of growth and cash flow
generation. The rating also incorporates our expectation of very
high adjusted leverage around 9x in 2017, which includes an
adjustment for capitalized research and development (R&D),
declining to the mid-8x area in 2018 as the company continues to
grow EBITDA. We expect OEConnection will prioritize acquisitions
and shareholder returns ahead of debt repayment.

S&P said, "The stable outlook reflects our expectation that
OEConnection will be able to support the increased debt burden with
continued organic growth above U.S. GDP growth and EBITDA margin
expansion and full integration of the Clifford Thames acquisition
over the next year. While we believe the company will prioritize
investments in product development, acquisitions and shareholder
returns over debt repayment, we expect the company to delever to
the mid-8x area by the end of 2018 through EBITDA growth.

"We could raise the rating over the next 12 months if the company
continues its revenue growth and EBITDA margin improvement and
reduces leverage below 7x on a sustained basis. This would likely
occur if the company outperformed our 2018 base case in EBITDA by
about 15% or if the company paid down $50 million in debt.

"While not expected over the next 12 months, we could lower the
rating if a deterioration in operating performance leads to
negative FOCF on a sustained basis which reduces total liquidity
(including revolver availability) below $20 million or if leverage
increases to where we consider the capital structure to be
unsustainable. This would likely occur if the company experienced
significantly higher attrition among clients."


OFFICE DEPOT: S&P Affirms 'B+' Rating on New $750MM Term Loan
-------------------------------------------------------------
S&P Global Ratings affirmed its 'B+' issue-level rating on
U.S.-based office-supplies provider Office Depot Inc.'s proposed
$750 million senior secured term loan in light of the facility's
repricing, accelerated amortization, and shortened tenor. The
recovery rating remains '2', indicating S&P's expectation for
substantial (70%-90%; rounded estimate: 80%) recovery for term loan
lenders in the event of a payment default.

S&P's 'B' corporate credit rating and negative outlook on Office
Depot are unchanged from its research update published on Oct. 18,
2017.

RECOVERY ANALYSIS

Key analytical factors

-- S&P affirms its 'B+' issue-level and '2' recovery ratings on
the proposed $750 million senior secured term loan. The '2'
recovery rating reflects our expectations for substantial (70%-90%;
rounded estimate: 80%) recovery of principal for term loan lenders
in the event of a payment default.

-- S&P's simulated default scenario contemplates a default in
2020, because of a steep decline in EBITDA due to a combination of
factors, including a significant decline in the company's retail
operations resulting in many store closures, unsuccessful execution
of the company's strategic initiatives associated with its
expansion into technology solutions, and an intensified competitive
environment in both of its segments.

-- The simulated default scenario assumes that Office Depot would
reorganize as a going concern in a distressed scenario to maximize
lenders' recovery prospects.

-- S&P's  recovery analysis assumes that the senior secured term
loan lenders benefit from a first-priority lien on substantially
all assets, other than assets pledged as collateral to the
asset-based lending (ABL) facility, and second-priority lien on the
assets pledged as collateral to the ABL facility.

Simulated default assumptions

-- Simulated year of default: 2020
-- EBITDA at emergence: $294 million
-- Implied enterprise value multiple: 4.5x
-- Gross enterprise value at emergence: $1.32 billion

Simplified waterfall

-- Net enterprise value at default (after 5% administrative
costs): $1.26 billion
-- Valuation split % (obligors/non-obligors): 100/0
-- ABL claims: $734 million
-- Collateral value available to secured creditors: $523 million
-- Senior secured term loan claims: $629 million
    -- Recovery expectations: 70%-90% (rounded estimate: 80%)
-- All debt amounts include six months of prepetition interest.

RATINGS LIST

  Office Depot Inc.
   Corporate Credit Rating      B/Negative/--
  Ratings Affirmed; Recovery Expectations Revised
                                To              From
  Office Depot Inc.
   Senior Secured               B+              B+
    Recovery Rating             2(80%)          2(75%)


ORANGE ACRES: Plan Filing Deadline Extended Until December 29
-------------------------------------------------------------
Judge Michael G. Williamson of the U.S. Bankruptcy Court for the
Middle District of Florida has further extended Orange Acres Ranch
Homeowners Association, Inc.'s:

     (a) the deadline for the Debtor to file its plan and
disclosure statement through December 29, 2017;

     (b) the 120-day time period during which the Debtor has the
exclusive right to propose and file a plan of reorganization
through December 29, 2017; and

     (c) the 180-day period during which the Debtor has the
exclusive right to solicit acceptances of a plan through February
27, 2018.

The Troubled Company Reporter has previously reported the Debtor
told the Court that it needed additional time to complete its
discussions with third parties as to various aspects of the plan.

As extended by prior order of the Court, the exclusive period
during which the Debtor has to file a plan would expire on October
30, 2017, and the period during which the Debtor has to solicit
acceptances of a plan would expire on December 29.

                About Orange Acres Ranch Homeowners

Orange Acres Ranch Homeowners Association, Inc., is listed as a
Florida Not For Profit Corporation, which owns and operates a
mobile home park known as Orange Acres Ranch.  The Park consists of
210 lots, including 73 unimproved lots.  The Park amenities include
a clubhouse and swimming pool.

Orange Acres Ranch Homeowners Association filed a Chapter 11
petition (Bankr. M.D. Fla. Case No. 17-04326) on May 18, 2017.  The
petition was signed by Brent Geary, president.  At the time of
filing, the Debtor estimated assets and liabilities of $1 million
to $10 million.  The case is assigned to Judge Michael G.
Williamson.  The Debtor is represented by Scott A. Stichter, Esq.,
at Stichter Riedel Blain & Postler, P.A.


ORGANIZATIONAL DEVELOPMENT: Claims Bar Date Set for Jan 27
----------------------------------------------------------
A petition commencing an assignment for the benefit of creditors
pursuant to Chapter 727, Florida Statutes, was made on September
26, 2017, by Organizational Development, Inc., d/b/a Community
Outreach, Inc., a/d/b/a The Fundraising Group, a Florida
corporation, Assignor, with its principal place of business at 5311
Lake Worth Rd, Greenacres, FL 33463, to:

     Philip Von Kahle, Assignee
     1883 Marina Mile Blvd., Suite 106
     Ft. Lauderdale, FL 33315

To receive any dividend in this proceeding, parties-in-interest
must file a proof of claim with the assignee or his attorney on or
before January 24, 2018 (120 days from the date of the filing of
the petition).

The case is, In re: ASSIGNMENT FOR THE BENEFIT OF CREDITORS OF
ORGANIZATIONAL DEVELOPMENT, INC., d/b/a COMMUNITY OUTREACH, INC.,
a/d/b/a THE FUNDRAISING GROUP, a Florida corporation, Assignor, to
PHILIP VON KAHLE, Assignee, CASE NO. 50-2017-CA-010641-XXXX-MB-AF,
IN THE CIRCUIT COURT IN AND FOR THE 15TH JUDICIAL CIRCUIT IN AND
FOR PALM BEACH COUNTY, FLORIDA, CIVIL DIVISION.


PACKERS HOLDINGS: S&P Cuts CCR to B- on Dividend Recapitalization
-----------------------------------------------------------------
S&P Global Ratings lowered its corporate credit rating on Kieler,
Wis.-based contract sanitation company Packers Holdings LLC to 'B-'
from 'B'. The outlook is stable.

S&P said, "At the same time, we assigned our 'B-' issue-level and
'3' recovery ratings to the company's proposed first-lien credit
facility, which includes a $50 million revolver due in 2022 and
$575 million term loan due in 2024. The '3' recovery rating
indicates our expectation for meaningful recovery (50%-70%; rounded
estimate: 60%) in the event of a payment default."

The downgrade reflects a substantial increase in leverage following
the proposed dividend recapitalization. S&P said, "We expect this
transaction will weaken the company's credit metrics such that S&P
Global Ratings-adjusted leverage will rise to the mid- to high-8x
area from mid-5x as of the trailing 12 months ended Sept. 30, 2017.
Through favorable demand factors and a focus on cost containment,
we believe that Packers will reduce leverage to the mid- to low-8x
area over the next 12 months. Despite our expectation for moderate
improvement, we believe that credit measures will remain
appropriate for the rating over the next 12-month period."

The outlook on Packers is stable. S&P said, "We expect that
continued productivity efforts, expansion into FDA inspection
plants, new business wins, and annual price increases will support
continued earnings growth and improving credit metrics over the
next 12 months. We expect debt to EBITDA to decline to the mid- to
low-8x area by the end of 2018.

"We could raise our ratings on Packers over the next year if the
company generates better than expected operating results and
applies excess cash flow toward debt reduction, such that leverage
declines below 7.5x on a sustained basis.

"Although unlikely over the next year, we could lower our ratings
on Packers if unforeseen events such as customer losses, weakness
in the protein sector, or higher than expected input cost cause
leverage to rise substantially, leading us to view its capital
structure as no longer sustainable. Although less likely, we could
also lower our ratings if Packers' liquidity becomes severely
constrained by greater than expected cash outflows or reduced
revolver availability."


PANERA BREAD: Egan-Jones Cuts Sr. Unsecured Ratings to B+
---------------------------------------------------------
Egan-Jones Ratings Company, on August 25, 2017, lowered the local
currency and foreign currency senior unsecured ratings on debt
issued by Panera Bread Co to BB+ from BBB+.

Panera Bread Company is an American chain of bakery-café fast
casual restaurants in the United States and Canada.


PARETEUM CORP: Amends 10.4 Million Shares Prospectus with SEC
-------------------------------------------------------------
Pareteum Corporation filed with the Securities and Exchange
Commission amendments to its registration statement on Form S-1,
the latest of which is amendment no.4, relating to a firm
commitment offering of 10,434,783 shares of its common stock,
together with warrants to purchase 5,217,391 shares of its common
stock (and the shares of common stock issuable upon exercise of the
warrants).  The shares and warrants will be separately issued, but
will be purchased together in this offering such that for every
share of common stock issued, the purchaser will receive a warrant
to purchase one half of a share of common stock.  Each warrant will
have an exercise price of $1.15 and will be exercisable upon
issuance and will expire five years from the date of issuance.
  
The Company is also offering to those purchasers, if any, whose
purchase of its common stock in this offering would otherwise
result in such purchaser, together with its affiliates and certain
related parties, beneficially owning more than 4.99% of its
outstanding common stock immediately following the consummation of
this offering, the opportunity to purchase Series B Convertible
Preferred Stock in lieu of purchasing common stock.  Each share of
Preferred Stock is being sold together with the same warrants being
sold with each share of common stock.  For each share of Preferred
Stock purchased in this offering in lieu of common stock, we will
reduce the number of shares of common stock being sold in the
offering by 1,000.  Pursuant to this prospectus, the Company is
also offering the shares of common stock issuable upon conversion
of the Preferred Stock.

Each share of Preferred Stock is convertible into 1,000 shares of
our common stock (subject to adjustment as provided in the related
designation of preferences) at any time at the option of the
holder, provided that the holder will be prohibited from converting
Preferred Stock into shares of our common stock if, as a result of
such conversion, the holder, together with its affiliates, would
own more than 4.99% of the total number of shares of the Company's
common stock then issued and outstanding. However, any holder may
increase such percentage to any other percentage not in excess of
9.99%, provided that any increase in such percentage will not be
effective until 61 days after such notice to the Company.   

Paretuem's common stock is quoted on The New York Stock Exchange
American under the symbol "TEUM".  On Oct. 31, 2017, the closing
bid price of its common stock on the Exchange was $1.15 per share.
The Company does not intend to apply for any listing of the
Preferred Stock or the warrants on the Exchange or any other
securities exchange or nationally recognized trading system.  There
is no established public trading market for the Preferred Stock or
the warrants, and the Company does not expect a market to develop.

A full-text copy of the Form S-1/A is available for free at:

                      https://is.gd/ZqNIp8

                       About Pareteum Corp

New York-based Pareteum Corporation (NYSEMKT: TEUM), formerly known
as Elephant Talk Communications, Inc. -- http://www.pareteum.com/
-- is an international p rovider of business software and services
to the telecommunications and financial services industry.

Squar Milner, LLP, in Los Angeles, California, issued a "going
concern" qualification in its report on the consolidated financial
statements for the year ended Dec. 31, 2016, citing that the
Company has suffered recurring losses from operations, has an
accumulated deficit of $287,080,234 and has negative working
capital.  This, according to the auditors, raises substantial doubt
about the Company's ability to continue as a going concern.

Pareteum incurred a net loss of $31.44 million for the year ended
Dec. 31, 2016, following a net loss of $5 million for the year
ended Dec. 31, 2015.  The Company's balance sheet at June 30, 2017,
showed $11.56 million in total assets, $15.45 million in total
liabilities and a total  stockholders' deficit of $3.88 million.

"Based on our current expectations with respect to our revenue and
expenses, we expect that our current level of cash and cash
equivalents could be sufficient to meet our liquidity needs for the
next twelve months.  If our revenues do not grow as expected and if
we are not able to manage expenses sufficiently, including required
payments pursuant to the terms of the senior secured debt, we may
be required to obtain additional equity or debt financing.
Although we have previously been able to attract financing as
needed, such financing may not continue to be available at all, or
if available, on reasonable terms as required.  Further, the terms
of such financing may be dilutive to existing shareholders or
otherwise on terms not favorable to us or existing shareholders.
If we are unable to secure additional financing, as circumstances
require, or do not succeed in meeting our sales objectives, we may
be required to change or significantly reduce our operations or
ultimately may not be able to continue our operations," as
disclosed in the Company's latest quarterly report for the period
ended June 30, 2017.


PHH CORP: Egan-Jones Hikes Sr. Unsec. Ratings to B-
---------------------------------------------------
Egan-Jones Ratings Company, on August 24, 2017, raised the foreign
currency senior unsecured rating on debt issued by PHH Corp to B-
from CCC+.

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.


PLAYA HOTELS: S&P Lowers Senior Secured Debt Rating to 'B+'
-----------------------------------------------------------
S&P Global Ratings lowered its issue-level ratings on Fairfax,
Va.-based all-inclusive resort owner Playa Hotels & Resorts N.V.'s
senior secured revolver due in 2022 and term loan due in 2024 (both
issued by subsidiary Playa Resorts Holding B.V.) to 'B+' from 'BB-'
and revised the recovery rating to '2' from '1', following the
company's announcement that it plans to issue a $380 million add-on
to its existing $530 million term loan. The company intends to use
the proceeds from the add-on to repay its $360 million outstanding
senior unsecured notes due in 2020, to pay breakage costs on the
notes, and to pay for other transaction fees. The proposed add-on
represents a roughly 60% increase in the total amount of secured
debt outstanding at default, which impairs recovery prospects for
secured lenders because the secured debt outstanding will now
exceed S&P's estimated enterprise value at emergence. The '2'
recovery rating reflects S&P's expectation for substantial
(70%-90%; rounded estimate: 70%) recovery for lenders in the event
of a payment default. S&P expects to withdraw ratings on the
unsecured notes once they have been repaid.

S&P said, "Our 'B' corporate credit rating and stable rating
outlook on Playa are unchanged."

RECOVERY ANALYSIS

Key analytical factors

-- S&P said, "Our downgrade of the issue-level ratings on the
company's senior secured revolver and term loan to 'B+' from 'BB-'
reflects our revision of the recovery rating to '2' from '1' as a
result of the increase in secured debt in the capital structure in
our hypothetical default scenario, moderately impairing recovery
prospects for secured lenders. The '2' recovery rating reflects our
expectation for substantial (70%-90%; rounded estimate: 70%)
recovery for lenders in the event of a payment default.

-- S&P's simulated default scenario contemplates a default in 2020
as a result of a significant decline in cash flow, caused by a
prolonged downturn in demand for international travel in Mexico and
the Caribbean, compounded by overall increased competitive
pressures.

To value the enterprise, S&P applied a 6.5x multiple to its
projected emergence EBITDA, partly reflecting Hyatt branding of
about half of Playa's resorts.

Simplified waterfall

-- Emergence EBITDA: $116 million
-- EBITDA multiple: 6.5x
-- Gross recovery value: $752 million
-- Net recovery value for waterfall after administrative expenses
(5%): $715 million
-- Obligor/nonobligor valuation split: 100%/0%
-- Estimated secured debt: $1.0 billion
-- Value available for senior secured claim: $715 million
    -—Recovery expectation: 70%-90% (rounded estimate: 70%)

All debt amounts include six months of prepetition interest.

RATINGS LIST

  Playa Hotels & Resorts N.V.
   Corporate Credit Rating                 B/Stable/--

  Issue-Level Ratings Lowered; Recovery Ratings Revised
                                           To             From    
  Playa Resorts Holding B.V.
   Senior Secured
    US$100 mil. revolver due 2022          B+             BB-   
     Recovery Rating                       2(70%)         1(95%)  
    US$910 mil. term ln due 2024           B+             BB-     
     Recovery Rating                       2(70%)         1(95%)


PROFLO INDUSTRIES: Hearing on Continued Cash Use Set for Nov. 16
----------------------------------------------------------------
The Hon. Mary Ann Whipple of the U.S. Bankruptcy Court for the
Northern District of Ohio has entered an amended order granting
ProFlo Industries, LLC, to use until Nov. 20, 2017, cash collateral
in the ordinary course of business consisting of funds on deposit,
accounts receivable and fees generated from the business which is
subject to interests of the secured creditor The Huntington
National Bank.

A continued hearing for use of cash collateral will be held on Nov.
16, 2017, at 10:30 a.m.

A copy of the Amended Court Order is available at:

           http://bankrupt.com/misc/ohnb17-33184-39.pdf

As reported by the Troubled Company Reporter on Oct. 27, 2017, the
Court authorized the Debtor, on an interim basis, to use cash
collateral until Nov. 20, 2017.  The hearing for use of cash
collateral was initial scheduled for 10:00 a.m. on Nov. 16, 2017.

The Debtor has a need to use cash collateral for its ordinary and
necessary operating expenses including taxes, cost of goods sold,
pre-petition and post-petition payroll, utilities, operational
costs, inventory purchases, payments under lease agreements to be
assumed, marketing and other day-to-day fluctuating expenses and
upon court approval, necessary professional fees (payable pursuant
to statute) and fees payable to the Office of the U.S. Trustee.

As of Oct. 8, 2017, the Debtor is authorized, on an interim basis
to use cash collateral consisting of and including bank balance,
accounts receivable of the estate and gross sales of goods and
services, which the Secured Party claims to have a valid and
perfected security interest.

The Debtor will be required to make adequate protection payments
for the use of cash collateral in the amount of the regular monthly
payment on the line of credit to Huntington Bank.  Huntington Bank
has an interest in the cash collateral of the business by virtue of
a Promissory Note and a Uniform Commercial Code Filing on Aug. 26,
2016.

The Debtor is prohibited from drawing from any line of credit with
Huntington Bank, and that the line of credit account can remain
frozen by Huntington National Bank, at Huntington Bank's
discretion.

The security interest of the secured party named in bank balance,
accounts receivable and fees of the Debtor's estate be and the same
is extended to all post-petition receivables and gross retail sales
created by the Debtor in the operation of the Debtor's business
with the same force and effect as said security interest attached
to the Debtor's prepetition accounts receivables.

                      About ProFlo Industries

Headquartered in Alvada, Ohio, ProFlo Industries, LLC, is an Ohio
Limited Liability Company engaged in the airline refueling
business.  The principal customers of the business are
multi-national companies providing goods, services and advice in
the global aviation industry.  ProFlo consists of one shareholder:
Terry N. Bosserman who owns 100% of the shares.

ProFlo Industries filed for Chapter 11 bankruptcy protection
(Bankr. N.D. Ohio Case No. 17-33184) on Oct. 8, 2017, estimating
its assets at between $500,001 and $1 million and liabilities
between $100,001 and $500,000.  The petition was signed by Terry N.
Bosserman, president.  The Debtor is represented by Patricia A.
Kovacs, Esq.


QEP RESOURCES: Moody's Rates Proposed $500MM Sr. Unsec. Notes Ba3
-----------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to QEP Resources,
Inc.'s (QEP) proposed $500 million senior unsecured notes, due
2026. QEP's other ratings and its stable rating outlook were
unchanged.

Net proceeds from the note offering will be used to redeem existing
debt, including the remaining principal amounts outstanding under
the 2018 and 2020 notes, as well as a portion of the 2021 notes,
through a tender offer process.

"These transactions are largely debt neutral, but QEP will have a
much improved maturity profile with no material debt maturities
until 2021," said Arvinder Saluja, Moody's Senior Analyst. "QEP is
also in the process of amending and extending its revolving credit
facility that will reduce the loan commitment to $1.35 billion from
$1.8 billion, but will push the facility maturity date to September
2022 from December 2019."

Issuer: QEP Resources, Inc.

Assignments:

-- Senior Unsecured Regular Bond/Debenture, Assigned Ba3 (LGD4)

RATINGS RATIONALE

The proposed 2026 notes are rated Ba3, the same as the existing QEP
senior unsecured notes since they rank equally in right of payment
and were issued under the same bond indenture. QEP's senior notes
and revolving credit facility are all issued at the parent level,
are unsecured, and have no subsidiary guarantees.

QEP's Ba3 Corporate Family Rating (CFR) reflects its relatively
strong leverage and interest coverage metrics, which are supported
by the company's strong hedge position, the increased diversity and
oil production potential of its asset base from an expanded Permian
Basin footprint, and its good liquidity. The rating also recognizes
QEP's track record of conservative financial policies including
funding acquisitions with equity and using proceeds from asset
sales to reduce debt. The company's CFR is constrained by the
relatively high cost of the company's assets, weak leveraged
full-cycle ratio, and Moody's expectation that the company's
capital spending will outpace cash flow generation at least through
2018 as it aggressively develops its Permian acreage and grows
production there.

QEP will have good liquidity through 2018 which is reflected in the
SGL-2 rating. Cash and revolver availability will more than
adequately cover the company's projected $150-$200 million funding
shortfall in 2018. QEP intends to complete the revolver amendment
during the fourth quarter of 2017, and pro forma for the notes
offering, redemption and tender offers, QEP expects to have no
borrowings under the facility. Pro forma for the premium payments
for the tender offer and closing of the Permian acquisition, QEP
had $94 million of balance sheet cash at September 30, 2017.
Moody's expects QEP to maintain comfortable headroom through 2018
under the three financial covenants governing the revolving credit
facility. Since the credit facility is unsecured, the company has
the ability to sell properties to raise alternative liquidity (up
to 15% of net book value without lender approval).

The stable outlook reflects Moody's expectation that QEP will
maintain supportive metrics and good liquidity as it develops its
acreage and grows its production base. The company's ratings could
be upgraded should the company maintain RCF to debt above 30% and
should its LFCR approach 1.5x. The company's ratings could be
downgraded if RCF to debt falls below 15%.

The principal methodology used in this ratings was Independent
Exploration and Production Industry published in May 2017.

QEP Resources, Inc. is a Denver, Colorado based publicly traded
independent exploration and production company with primary assets
in North Dakota, Utah, Texas and Louisiana.


RE/MAX LLC: S&P Places 'BB' Corp. Credit Rating on Watch Negative
-----------------------------------------------------------------
RE/MAX Holdings Inc. announced the appointment by its board of a
special committee of independent directors to investigate
allegations concerning actions of certain members of the company's
senior management, including allegations of wrongdoing in
employment practices and conduct, and an undisclosed loan and gifts
from co-CEO David Liniger to co-CEO Adam Contos.

S&P Global Ratings is placing its 'BB' corporate credit rating on
Denver, Colo.-based Re/Max LLC on CreditWatch with negative
implications.

S&P said, "We also placed our 'BB+' issue-level rating on the
company's debt, including the $10 million dollar revolving credit
facility due 2021 and the $235 million term loan due 2023, on
CreditWatch with negative implications, as we would expect any
negative rating action on the corporate credit rating to negatively
affect issue-level ratings."

S&P said, "The CreditWatch listing reflects the uncertainty
regarding the outcome and timing of the investigation, as well as
the potential risk it may uncover improper acts that negatively
affect our view of the business, management, or governance. In the
event we believe that business risks are meaningfully heightened
because of the outcome of the investigation, we could lower the
rating. We are placing ratings on CreditWatch despite the company's
statement there would be no material adjustments to its previously
issued financial statements as a result of the loan and gift
transactions, and the CEOs' claim that no company funds were used
in any of the alleged transactions and that operations were
unaffected by the alleged wrongdoings. However, in the event the
company does not file financial statements, or otherwise satisfy
covenants under its credit facility, we could also lower the
rating."


RED CHIP VENTURES: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Red Chip Ventures Inc.
        578 Driggs Avenue
        Brooklyn,, NY 11211

Type of Business: Red Chip Ventures Inc. listed its business
                  as Single Asset Real Estate (as defined in
                  11 U.S.C. Section 101(51B).  Its principal
                  assets are located at 207 Cabrini Boulevard,
                  New York 10033.  The company is an affiliate
                  of Blue Chip Ventures, which filed for
                  Chapter 11 protection on Sept. 25, 2017
                  (Bankr. S.D.N.Y. Case No. 17-12686).

Chapter 11 Petition Date: November 7, 2017

Case No.: 17-13161

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Hon. Sean H. Lane

Debtor's Counsel: Isaac Nutovic, Esq.
                  NUTOVIC & ASSOCIATES
                  261 Madison Avenue, 26th Floor
                  New York, NY 10016
                  Tel: (212) 421-9100
                  E-mail: INutovic@Nutovic.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $50,000 to $100,000

The petition was signed by Melvin Caro, president.

The Debtor did not file a list of 20 largest unsecured creditors
together with the petition.

A full-text copy of the petition is available for free at:

          http://bankrupt.com/misc/nysb17-13161.pdf


REDBOX AUTOMATED: S&P Affirms 'B' CCR Then Withdraws Rating
-----------------------------------------------------------
S&P Global Ratings affirmed its 'B' corporate credit rating on
U.S.-based DVD rental operator Redbox Automated Retail LLC. The
rating outlook remains stable. S&P subsequently withdrew the rating
at the company's request.

S&P also withdrew its 'B+' issue-level and '2' recovery ratings on
the company's senior secured first-lien credit facility, which was
paid down in full on Oct. 20, 2017.



RESOLUTE ENERGY: Incurs $14.6 Million Net Loss in Third Quarter
---------------------------------------------------------------
Resolute Energy Corporation reported a net loss of $14.60 million
on $81.55 million of total revenue for the three months ended
Sept.30, 2017, compared to a net loss of $18.85 million on $47.41
million of total revenue for the three months ended Sept. 30,
2016.

For the nine months ended Sept. 30, 2017, the Company reported net
income of $99,000 on $217.80 million of total revenue compared to a
net loss of $141.07 million on $101.81 million of total revenue for
the same period a year ago.

The Company had $792.32 million in total assets, $866.08 million in
total liabilities and a total stockholders' deficit of $73.76
million as of Sept. 30, 2017.

Net cash provided by operating activities was $112.0 million in
2017 as compared to $58.7 million for the 2016 period.  The
increase in net cash provided by operating activities in 2017 as
compared to 2016 was primarily due to increased revenue resulting
from the 96% increase in 2017 production volumes.

Net cash used in investing activities was $345.3 million in 2017
compared to $67.1 million in 2016.  The primary investing
activities in 2017 were cash used for capital expenditures of
$219.0 million and acquisitions of $161.3 million.  Capital
expenditures in 2017 consisted primarily of $209.5 million in
drilling activities and infrastructure projects in the Permian
Basin, $6.5 million in facility projects in Aneth Field and $3.0
million in CO2 acquisition for Aneth Field.  Capital divestitures
in 2017 included $13.2 million of cash receipts related to the
Earnout Agreement entered into in connection with the divestiture
of the midstream assets in the Delaware Basin and $13.1 million of
net proceeds primarily from the sale of the New Mexico Properties.
The primary investing activity in 2016 was cash used for capital
expenditures of $98.3 million. Capital expenditures in 2016
consisted primarily of $87.1 million in drilling activities and
infrastructure projects in the Permian Basin, $6.3 million in
facility projects in Aneth Field and $4.9 million in CO2
acquisition for Aneth Field.  Capital divestitures in 2016 included
$33.0 million of proceeds from the sale of the Reeves County
midstream assets.

Net cash provided by financing activities was $101.2 million in
2017 compared to less than $0.1 million used in 2016. The primary
financing activities in 2017 were $126.9 million of proceeds
received from the issuance of the Incremental Senior Notes and
$115.0 million in net borrowings under the Revolving Credit
Facility, offset by the repayment of $128.3 million of principal on
the Secured Term Loan.

The Company said if cash flow from operating activities does not
meet expectations, it may reduce its expected level of capital
expenditures and/or fund a portion of its capital expenditures
using borrowings under its Revolving Credit Facility (if
available), issuances of other debt or equity securities or from
other sources.  There can be no assurance that needed capital will
be available on acceptable terms or at all.  The Company's ability
to raise funds through the incurrence of additional indebtedness
could be limited by the covenants in our Revolving Credit Facility
or Senior Notes.  If the Company is unable to obtain funds when
needed or on acceptable terms, it may not be able to satisfy its
obligations under its existing indebtedness, finance the capital
expenditures necessary to maintain production or proved reserves or
complete acquisitions that may be favorable to it.

According to the Company, "While the closing of the Incremental
Senior Notes issuance related to the Delaware Basin Bronco
Acquisition resulted in a short term rise in our level of
indebtedness on an absolute basis and in relation to our cash
flows, the sale of Aneth Field, which closed in the fourth quarter
of 2017, was a significant deleveraging event.  We secured a
precautionary amendment to ensure that we remained in compliance
with our covenants under our Revolving Credit Facility during this
interim period of increased indebtedness.  As discussed above, in
future periods we may again use additional borrowings under our
Revolving Credit Facility or issue other debt or equity securities
to fund ongoing operations or asset acquisitions.

"We plan to continue our practice of hedging a significant portion
of our production through the use of various commodity derivative
transactions.  Our existing derivative transactions have not been
designated as cash flow hedges, and we anticipate that future
transactions will receive similar accounting treatment.  Derivative
settlements usually occur within five days of the end of the month.
As is typical in the oil and gas industry, however, we do not
generally receive the proceeds from the sale of our oil production
until the 20th day of the month following the month of production.
As a result, when commodity prices increase above the fixed price
in the derivative contacts, we will be required to pay the
derivative counterparty the difference between the fixed price in
the derivative contract and the market price before receiving the
proceeds from the sale of the hedged production.  If this occurs,
we may use working capital or borrowings under the Revolving Credit
Facility to fund our operations."

A full-text copy of the Company's quarterly report on Form 10-Q for
the period ended Sept. 30, 2017, is available for free at:

                     https://is.gd/aUxxSv

                     About Resolute Energy

Resolute Energy Corp. -- http://www.resoluteenergy.com/-- is an
independent oil and gas company focused on the acquisition and
development of unconventional oil and gas properties in the
Delaware Basin portion of the Permian Basin of west Texas. Resolute
also operates Aneth Field, located in the Paradox Basin in Utah.
The Company routinely posts important information about the Company
under the Investor Relations section of its website. The Company's
common stock is traded on the NYSE under the ticker symbol "REN."

Resolute reported a net loss of $161.7 million in 2016, a net loss
of $742.27 million in 2015 and a net loss of $21.85 million in
2014.

                          *    *    *

As reported by the TCR on Feb. 27, 2017, Moody's Investors Service
upgraded Resolute Energy Corporation's Corporate Family Rating
(CFR) to 'B3' from 'Caa2', the Probability of Default Rating to
'B3-PD' from 'Caa2-PD' and its senior unsecured notes rating to
'Caa1' from 'Caa3'.  The Speculative Grade Liquidity rating was
affirmed at SGL-3.  The rating outlook was changed to stable.

"The upgrade to B3 reflects Resolute's improved capital structure,
continued strong drilling results and improved production and
drilling economics, which provide good visibility to continued
growth in a mid $40s oil price environment without increasing debt
leverage," noted John Thieroff, Moody's VP-Senior Analyst.  "We
expect moderation in the company's reserve- and production-based
debt metrics from significant production growth at very competitive
drillbit costs."

The TCR reported on May 15, 2017, that S&P Global Ratings assigned
its 'B-' corporate credit rating to Resolute Energy Corp. (REN).
The rating outlook is stable.  "The corporate credit rating
reflects our assessment of REN's business risk profile as
vulnerable, its financial risk profile as aggressive, and its
liquidity as less than adequate," said S&P Global Ratings credit
analyst, David Lagasse.


RIVERSTONE UTOPIA: S&P Rates 2024 $225MM Term Loan B 'BB-'
----------------------------------------------------------
S&P Global Ratings said it assigned its 'BB-' issue-level rating to
Riverstone Utopia Member LLC's $225 million term loan B due 2024.
The rating outlook is stable. The recovery rating is '2', implying
a substantial (70%-90%; rounded estimate: 70%) recovery for lenders
in the event of a borrower default.

The Utopia Pipeline is a new feedstock source for petrochemical
companies operating in Ontario, Canada and a new pipeline outlet
for natural gas liquids producers in the Marcellus and Utica
basins. The project is a 268-mile, common carrier, Federal Energy
Regulation Commission-regulated pipeline, consisting of new build
and existing sections, which runs from Ohio to Ontario, with an
initial capacity of 50,000 barrels per day (bbl/d) but has been
designed for expansion to 75,000 bbl/d.

Pipeline construction began in the second quarter of 2017 and is
substantially complete, with a target in-service date of Jan. 1,
2018. Nova Chemicals Corp. (BB+/Stable) has entered into a
transportation services agreement (TSA) for the majority of the
current capacity of the pipeline, which has a remaining term of 21
years under a minimum volume commitment (MVC) arrangement.

The project is nearing substantial completion and is expected to
enter full operations by the end of the year. Once operational,
initially all cash flow will be derived from the 21-year remaining
term TSA with Nova Chemicals, which will use the ethane as
feedstock in its Corunna ethylene plant. S&P expects the project to
reach commercial operations as scheduled and Nova to take (or pay)
for the capacity as set out in the TSA.

S&P said, "Although unlikely, we could take a negative rating
action if there is weaker-than-expected cash flow due to
difficulties experienced by Nova Chemicals or reduced coverage
ratios following the issuance of permitted additional debt. Also, a
negative rating action might result from Nova Chemicals not posting
the required credit enhancement under the TSA or if it seeks to get
out of its obligations under the TSA for whatever reason. Also, if
the permitted additional debt at KMUH is issued and materially
affects the rated debt, we may apply a one notch downgrade due to
this structural subordination.

"We could take a positive rating action if the project's capacity
is increased sooner than expected and the additional cash flow is
used to prepay the debt more quickly than forecast. However, we do
not expect a material change over the next 18-24 months."


SCIENTIFIC GAMES: Posts $768.9 Million Revenue in Third Quarter
---------------------------------------------------------------
Scientific Games Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q for the period ended
Sept. 30, 2017.

Third quarter revenue rose 7 percent to $768.9 million, up from
$720.0 million a year ago.  The growth was driven by revenue
increases in each of the Gaming, Lottery and Interactive segments.
Foreign exchange had a $2.1 million favorable impact on revenue.

Net loss for the third quarter was $59.3 million compared to a net
loss of $98.9 million for the three months ended Sept. 30, 2016.

Scientific Games had $7.06 billion in total assets, $9.03 billion
in total liabilities and a $1.97 billion total stockholders'
deficit.

Net cash provided by operating activities for the nine months ended
Sept. 30, 2017, as compared to the prior year period increased
primarily due to $40.9 million increase in incremental net earnings
after reconciling adjustments, partially offset by changes in
working capital accounts as the prior year benefited from the
timing of receivable collections and cash disbursements coupled
with various other changes in our working capital accounts.  

Net cash used in investing activities increased primarily due to
the business acquisitions, with capital expenditures relatively
flat for two comparable periods.  Capital expenditures are composed
of investments in systems, equipment and other assets related to
contracts, property and equipment, intangible assets and software.

Net cash used in financing activities decreased primarily due to
the February 2017 Refinancing and August 2017 Refinancing
transactions and lower principal payments on the long-term debt
during the period.  During the nine months ended Sept. 30, 2017,
the Company also incurred $52.3 million in debt issuance and
deferred financing costs.

Scientific Games' principal sources of liquidity as of Sept. 30,
2017, other than cash flows provided by operating activities, were
cash and cash equivalents and amounts available under its revolving
credit facility.

During the third quarter of 2017, the Company completed a
refinancing transaction, which included an amendment to its credit
agreement which further extended the maturity of its term loans and
reduced the applicable interest rate on the term loans.  The August
2017 Refinancing further lowered its annual cash interest cost and
extended the maturity of approximately 40 percent of our debt from
2021 to 2024.

Subsequent to Sept. 30, 2017, the Company successfully completed a
private offering of $350.0 million in aggregate principal amount of
5.000% senior secured notes due 2025.  The Company intends to use
the net proceeds of this offering, together with cash on hand and
borrowings under the revolving credit facility under its credit
agreement, to finance the NYX Acquisition, including the
refinancing of certain indebtedness of NYX, and to pay related fees
and expenses.  If the NYX Acquisition is not consummated for any
reason or other corporate needs arise, the Company may use the net
proceeds from this offering for general corporate purposes, which
may include the prepayment of term loan borrowings under its credit
agreement.

A full-text copy of the Form 10-Q is available for free at:

                      https://is.gd/tzBd9Y

                     About Scientific Games

Scientific Games Corporation (NASDAQ: SGMS) --
http://www.scientificgames.com/-- is a developer of
technology-based gaming systems, table games, table products and
instant games and a leader in products, services and content for
gaming, lottery and interactive gaming markets.  Scientific Games
delivers what customers and players value most: trusted security,
creative content, operating efficiencies and innovative technology.
Today, the Company offers customers a fully integrated portfolio
of technology platforms, robust systems, engaging content and
unrivaled professional services.

Scientific Games reported a net loss of $353.7 million in 2016, a
net loss of $1.39 billion in 2015 and a net loss of $234.3 million
in 2014.  

                          *    *    *

As reported by the TCR on Oct. 4, 2017, Moody's Investors Service
confirmed Scientific Games Corporation's ("SGC") 'B2' Corporate
Family Rating and 'B2-PD' Probability of Default Rating.  The
confirmation of the 'B2' Corporate Family Rating reflects Moody's
expectations that the proposed transaction, although primarily debt
funded, does not materially change Moody's expectation for
continued reduction in leverage from current levels, which is key
to the company maintaining its existing rating.

In July 2017, S&P Global Ratings affirmed its ratings on Scientific
Games, including its 'B' corporate credit rating.  The outlook is
stable.  "The affirmation of our 'B' corporate credit rating
reflects our expectation for adjusted EBITDA coverage of interest
to remain around 2x through 2018 and for the company to prioritize
the use of free cash flow for debt repayment, which we believe
partially mitigates currently high leverage.  We are forecasting
adjusted debt to EBITDA to be in the low- to mid-7x area in 2017
and around 7x in 2018, given our forecast for only modest EBITDA
growth and debt reduction."


SCOTT SWIMMING: May Use Cash Collateral Until Nov. 30
-----------------------------------------------------
The Hon. Julie A. Manning of the U.S. Bankruptcy Court for the
District of Connecticut has entered a 34th order authorizing Scott
Swimming Pools Inc. to use Webster Bank's cash collateral until
5:00 p.m. on Nov. 30, 2017.

A hearing on the continued use of cash collateral will be held on
Nov. 28, 2017, 10:00 a.m.

Any objection to the continued use of cash collateral must be filed
and served no later than Nov. 21, 2017, at 5:00 p.m.

As adequate protection for any post-petition diminution in value of
the pre-petition collateral, post-petition collateral and the cash
collateral arising out of the Debtor's use thereof and the
continuance of the automatic stay, Webster Bank is granted
post-petition claims against the Debtor's estate, which will have
priority in payment over any other indebtedness and obligations now
in existence or incurred hereafter by the Debtor and over all
administrative expenses or charges against the property, subject
only to the carve-out.  As security for the adequate protection
claim, the Debtor grants to Webster Bank, an enforceable and
perfected replacement lien and security interest in the
post-petition assets of the Debtor's estate equivalent in nature,
priority and extent to the liens and security interests of Webster
Bank, in the pre-petition collateral and the proceeds and products
thereof, subject to the carve-out.

As additional adequate protection, the Debtor will pay to Webster
Bank monthly installments of interest on the loan pursuant to the
terms of the parties' note.

A copy of the court order is available at:

           http://bankrupt.com/misc/ctb15-50094-503.pdf

As reported by the Troubled Company Reporter on Oct. 18, 2017, the
Court previously entered a 33rd order authorizing the Debtor to use
the cash collateral of Webster Bank until Oct. 31, 2017.

                    About Scott Swimming Pools

Based in Woodbury, Conn., Scott Swimming Pools, Inc., constructs,
sells and services swimming pools.  Its offices and property are
located at 75 Washington Road, Woodbury, CT.

Scott Swimming Pools filed a Chapter 11 petition (Bankr. D. Conn.
Case No. 15-50094) on Jan. 22, 2014.  James M. Scott, the Company's
president, signed the petition.

The case is assigned to Judge Alan H.W. Shiff.  

The Debtor tapped James M. Nugent, Esq., at Harlow, Adams, and
Friedman, P.C., as bankruptcy counsel.

The Debtor disclosed that it owed creditors $3.79 million.


SEARS HOLDINGS: Has Deal With PBGC to Further Fund Pension Plans
----------------------------------------------------------------
The Pension Benefit Guaranty Corporation and Sears Holdings
Corporation have reached a new agreement that upon closing provides
approximately $500 million in funding for Sears' two pension plans,
including contributions already made by Sears since August 2017.
The pension plans cover about 100,000 participants. Closing on this
agreement should occur in about three months.

The new agreement amends the March 2016 agreement between PBGC and
Sears, under which Sears agreed to protect the assets of certain
special purpose subsidiaries holding real estate and intellectual
property for the benefit of the Sears pension plans.

Earlier this year, PBGC and Sears amended the March 2016 agreement
to accommodate the sale of the Craftsman brand. Now, this new
amendment to the March 2016 agreement allows Sears to monetize the
real estate protected in the March 2016 agreement, with the
proceeds used to fund the pension plans. The non-real estate
related pension protections in the March 2016 agreement are
unaffected by the new agreement.

PBGC works collaboratively with pension plan sponsors to encourage
and support the continuation of their plans. One of the ways PBGC
does this is to structure meaningful financial protections for plan
participants and the pension insurance program, while enabling the
sponsor to effectuate its business plan.

PBGC protects the pension benefits of nearly 40 million Americans
in private-sector pension plans. The agency operates two separate
insurance programs -- one covering pension plans sponsored by a
single employer and another covering multiemployer pension plans,
which are sponsored by more than one employer and maintained under
collective bargaining agreements. PBGC is currently responsible for
the benefits of about 1.5 million people in failed pension plans.
PBGC receives no taxpayer dollars. Its operations are financed by
insurance premiums, investment income, and, for the single-employer
program, assets and recoveries from failed single-employer plans.


SENIOR OAKS: US Trustee Directed to Appoint Patient Care Ombudsman
------------------------------------------------------------------
Judge Katharine M. Samson of the U.S. Bankruptcy Court for the
Southern District of Mississippi issued an order directing the U.S.
Trustee to appoint a patient cared ombudsman in the case of Senior
Oaks, LLC.

If a motion to dispense with the appointment of a patient care
ombudsman is timely filed, the Court will conduct an evidentiary
hearing as to whether a Patient Care Ombudsman should be appointed
on Nov. 29, 2017, at 10:00 a.m., in the Bankruptcy Courtroom, 7th
Floor, Dan M. Russell, Jr. U. S. Courthouse, 2012 15th Street,
Gulfport, Mississippi.

The bankruptcy case is in re: Senior Oaks, LLC, Case No.
17-52141-KMS (Bankr. S.D. Miss.).



SENTRIX PHARMACY: Seeks February 14 Exclusivity Periods Extension
-----------------------------------------------------------------
Sentrix Pharmacy and Discount, LLC, requests the U.S. Bankruptcy
Court for the Southern District of Florida to extend the Plan
Exclusivity Periods for 90 days through and including February 14,
2018, which is presently set to expire on November 16.

The Debtor tells the Court that it is aggressively pursuing every
issue of its cases in an effort to bring about resolution of the
problems faced going into filing and the development of a
confirmable plan.

In addition, the Debtor notes that the claims bar date is November
24, 2017 for non-governmental creditors and January 16, 2018 for
governmental creditors.

           About Sentrix Pharmacy and Discount, LLC

Sentrix Pharmacy and Discount, LLC filed a Chapter 11 bankruptcy
petition (Bankr. S.D. Fla. Case No. 17-19073) on July 19, 2017.
The Hon. Raymond B. Ray presides over the case.  Rappaport Osborne
& Rappaport, PLLC represents the Debtor as counsel.

In its petition, the Debtor estimated $1 million to $10 million in
both assets and liabilities.  The petition was signed by Spencer
Maklin, its vice president.  The Debtor employed Delle Fave
Tarrasco & Co, CPA, LLP, as accountant.


SHATTUCK-ST. MARY'S SCHOOL: S&P Raises 2015A-B Bonds Rating to BB+
------------------------------------------------------------------
S&P Global Ratings raised its long-term rating to 'BB+' from 'BB'
on Rice County, Minn.'s series 2015A and 2015B educational facility
revenue bonds issued on behalf of Shattuck-St. Mary's School (SSM).
The outlook is positive.

"The upgrade and positive outlook reflect our view of the school's
modest enrollment growth and significant improvement in available
resource ratios, and improved operating performance on a cash basis
in recent years, with expectations that both trends will continue,"
said S&P Global Ratings credit analyst Ashley Ramchandani. The
revised rating and outlook are further supported by the school's
limited debt plans.

More specifically, the 'BB+' rating reflects S&P's view of the
school's:

-- Improved available resources consistent with expendable
resources of $20.8 million in fiscal 2017, representing 59% of
operations and 75% of total debt;

-- Manageable debt burden, with pro forma maximum annual debt
service constituting 3.9% of draft fiscal 2017 expenses, with
limited debt plans during our two-year outlook period;

-- Stable to growing enrollment with fluctuating, albeit
improving, demand metrics; and

-- Niche programming, with the school being differentiated by its
Centers of Excellence and International delivery models.

These credit factors, in S&P's view, are tempered by the school's:

-- History of variable operating performance on a full-accrual
basis, offset by positive operating performance projected for
fiscal 2017 and anticipation of balanced operations on a budgetary
basis in fiscal 2018 and beyond; and

-- High endowment draw of approximately 6% of endowment market
value.

SSM is an independent, Episcopal, co-educational college
preparatory school enrolling day and boarding students in grades
six through high school; in addition, SSM also offers a one-year
postgraduate program. The school is located on a 250-acre campus in
Faribault, approximately 50 miles south of Minnesota's Twin Cities.


SILO CITY: Plan Filing Deadline Extended to December 6
------------------------------------------------------
The Hon. Rene Lastreto II of the U.S. Bankruptcy Court for the
Eastern District of California, at the behest of Silo City, Inc.,
has extended the deadline for the filing of the Debtor's plan and
disclosure statement to December 6, 2017.

As reported by the Troubled Company Reporter on November 8, 2017,
the Debtor asked the Court to give it additional 30 days to
complete and file its plan of reorganization and disclosure
statement in light of the passing of Larry Clift.

The Court ordered the Debtor to file its plan and disclosure
statement by Nov. 6.  The Debtor was in the process of preparing
its plan and disclosure statement, and prepared to file both
documents by the deadline when Mr. Clift died.

Mr. Clift, the representative of the Debtor for the majority of its
business dealings, suffered a sudden fatal heart attack on Nov. 1.
Mr. Clift was also a key person in the Debtor's formulation of the
plan and in negotiations both with lessees and with creditors.  He
also served as advisor to son, Michael Clift, the Company's
president.

The Debtor said that the Clift family needs time to make funeral
arrangements and recover from the loss of the family patriarch. The
Debtor told the court that it is unclear how Larry Clift's passing
will affect the Debtor's intentions with respect to the plan,
according to the Debtor's court filings.

The attorneys for creditors Allstar Growth Fund, LLC, and
Investment Grade Loans, Inc., have informed the Debtor's attorney
that they do not oppose a one-month extension of the Debtor's time
to file a plan and disclosure statement.  Allstar and IGL hold
first and second deeds of trust, respectively, against the Debtor's
real property and are the two largest creditors in the Debtor's
case.

Additionally, Greg Powell from the Office of the U.S. Trustee
informed the Debtor's attorney that he does not object to a 30-day
extension of the plan bar date, but that the U.S. Trustee reserves
all rights under the Code and Rules, including the right to seek
relief under 11 U.S.C. Section 1112.

                        About Silo City Inc

Silo City, Inc. fdba Sun Coast Materials Co., a California
corporation, based in Bakersfield, filed a Chapter 11 petition
(Bankr. E.D. Calif. Case No. 17-10238) on January 25, 2017.  The
Hon. Rene Lastreto II presides over the case.  Jacob L. Eaton, at
Klein, Denatale, Goldner, Cooper, Rosenleib & Kimball, LLP, serves
as bankruptcy counsel to the Debtor.

In its petition, the Debtor estimated $1 million to $10 million in
both assets and liabilities.  The petition was signed by Michael
Clift, its president.

A list of the Debtor's 17 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb17-10238.pdf


SINOVAC BIOTECH: Receives Nasdaq Delisting Determination Letter
---------------------------------------------------------------
Sinovac Biotech Ltd. (Nasdaq: SVA), a provider of biopharmaceutical
products in China, disclosed that on Nov. 1, 2017, the Company
received a delisting determination letter from the Staff of the
Listing Qualifications Department (the "LQ Staff") of The Nasdaq
Stock Market, Inc. ("Nasdaq ") related to the delisting of the
Company's shares.

On May 10, 2017, the LQ Staff notified the Company that it did not
comply with Nasdaq's filing requirements set forth in Listing Rule
5250(c)(1) (the "Rule") because it had not filed its annual report
on Form 20-F for the year ended December 31, 2016 (the "2016 Annual
Report").  The Company submitted a compliance plan on July 10,
2017, and the LQ Staff granted the Company an exception until
October 30, 2017 to regain compliance with the Rule.

The Company has not yet filed the 2016 Annual Report.  Accordingly,
the LQ Staff has determined to delist the Company's shares due to
the Company's failure to comply with the Rule.  The delisting
determination letter noted that the Company may appeal the LQ
Staff's determination.  However, if the Company does not appeal
this determination, trading of the Company's shares will be
suspended from The Nasdaq Select Global Market at the opening of
business on November 10, 2017, and a Form 25-NSE will be filed with
the Securities and Exchange Commission, which will remove the
Company's shares from listing and registration on The Nasdaq Stock
Market.

The Company intends to appeal the LQ Staff's determination and will
request a hearing before the Nasdaq Hearings Panel as set forth in
the Nasdaq Listing Rules.

                         About Sinovac

Sinovac Biotech Ltd. -- http://www.sinovac.com-- is a China-based
biopharmaceutical company that focuses on the research,
development, manufacturing and commercialization of vaccines that
protect against human infectious diseases.  Sinovac's product
portfolio includes vaccines against enterovirus71, or EV71,
hepatitis A and B, seasonal influenza, H5N1 pandemic influenza
(avian flu), H1N1 influenza (swine flu), and mumps.  The EV71
vaccine, an innovative vaccine developed by Sinovac against hand
foot and mouth disease caused by EV71, was commercialized in China
in 2016.  In 2009, Sinovac was the first company worldwide to
receive approval for its H1N1 influenza vaccine, which it has
supplied to the Chinese Government's vaccination campaign and
stockpiling program.  The Company is also the only supplier of the
H5N1 pandemic influenza vaccine to the government stockpiling
program.  The Company is currently developing a number of new
products including a Sabin-strain inactivated polio vaccine,
pneumococcal polysaccharides vaccine, pneumococcal conjugate
vaccine and varicella vaccine.  Sinovac primarily sells its
vaccines in China, while also exploring growth opportunities in
international markets.  The Company has exported select vaccines to
over 10 countries in Asia and South America.  


SM COMMERCIAL: Idaho Court Dismisses WF's Claim for Deficiency
--------------------------------------------------------------
The case captioned WASHINGTON FEDERAL, successor by merger to South
Valley Bank & Trust, Plaintiff-Appellant-Cross Respondent, v.
MICHAEL R. HULSEY, individually; SM COMMERCIAL PROPERTIES, LLC, an
Idaho limited liability company; JOHN and JANE DOES I-X, WHITE
CORPORATIONS I-X, Defendants-Respondents-Cross Appellants, Docket
No. 43936 & 44190 (Idaho), arises from the foreclosure of nine
commercial condominium units owned by Michael R. Hulsey and SM
Commercial Properties, LLC.  Just prior to a sheriff's sale, SM
Commercial Properties filed bankruptcy.  Eventually, the bankruptcy
stay was lifted and the sale took place.  Washington Federal bought
the property with a credit bid and then asserted a deficiency
against Hulsey.

Upon analysis of the arguments and evidence presented the Supreme
Court of Idaho affirms the district court's judgment dismissing
Washington Federal's claim for a deficiency, but vacate the
district court's judgment denying Washington Federal's costs and
attorney's fees incurred to enforce the judgment and decree of
foreclosure.

The district court found that Washington Federal failed to prove
both the existence of a deficiency as well as the fair market value
of the property. Washington Federal raises the following issues on
appeal: (1) whether Hulsey is precluded (collaterally estopped)
from litigating the fair market value of the property based on the
bankruptcy court proceedings; and (2) whether the district court
erred when it determined that Washington Federal failed to prove
the existence of the deficiency and the fair market value of the
property. Both parties appealed the district court's denial of
attorney's fees, but Hulsey dismissed his cross-appeal at the time
of oral argument.

The district court's decision was supported by substantial and
competent evidence. The district court considered evidence that "a
reasonable mind might accept to support a conclusion." The district
court carefully considered in-depth all of the evidence presented
before it and made reasonable conclusions. Washington Federal makes
much of the fact that Hulsey did not put on any evidence from a
certified appraiser. Washington Federal misses the point that it
had the burden of proof--not Hulsey. After cross-examining
appraiser Vivki Mundlin, Hulsey made the decision not to call his
own expert. He obviously felt that he had discredited Mundlin's
opinions enough through cross-examination that he did not need to
put on his own expert testimony. That was a calculated decision
that worked in his favor. The district court's decision that
Washington Federal failed to prove the existence of a deficiency
and the amount of a deficiency is supported by substantial and
competent evidence. As such, the Court affirms the decision of the
district court.

Because the Court holds the district court erred in denying
Washington Federal's request for attorney's fees and costs based on
Post and Farm Credit Bank, the Court need not address Washington
Federal's argument that it was the prevailing party. Thus, the
Court vacates the judgment dated April 21, 2016, to the extent it
denied Washington Federal's request for attorney's fees and costs
and remand this matter for further proceedings consistent with this
opinion.

A full-text copy of the Court's Decision dated Oct. 31, 2017, is
available at https://is.gd/EUBXqV from Leagle.com.

Davison, Copple, Copple & Copple, LLP, Boise, for appellant. Terry
C. Copple argued.

John F. Magnuson, Coeur d'Alene, argued for respondents.

Headquartered in Bender, OR, SM Commercial Properties, LLC filed
for chapter 11 bankruptcy protection (Bankr. D. Idaho Case No.
14-20917) on Oct. 29, 2014, listing its total assets at $2.04
million and total liabilities at $1.64 million. The petition was
signed by Michael Hulsey, member/manager.


SPANISH BROADCASTING: Unit Will Sell New York Building for $14M
---------------------------------------------------------------
Alarcon Holdings, Inc., a wholly owned subsidiary of Spanish
Broadcasting System, Inc., entered into a Contract of Purchase and
Sale, as amended by the Amendment to Contract of Purchase and Sale
dated as of Oct. 31, 2017, to sell a building and real property
located at 26 West 56th Street, New York, New York 10019 to 26 W.
56 LLC.  The due diligence period provided for in the Agreement
expired on Oct. 31, 2017, at 5:00 p.m. New York City time.

The purchase price for the Premises is $14,000,000, exclusive of
closing costs.  Upon the execution of the Agreement, the Purchaser
deposited the sum of $2,800,000 into escrow as a deposit against
the Purchase Price, with the remaining balance of $11,200,000 to be
paid at the closing.  The Company will use the net proceeds, as
such term is defined in the Indenture governing the Company's
outstanding 12.5% Senior Secured Notes due 2017, received from the
sale of the Premises to repay a portion of the Notes.  

                  About Spanish Broadcasting

Spanish Broadcasting System, Inc. (OTCMKTS:SBSAA) --
http://www.spanishbroadcasting.com/-- is a Spanish-language media
and entertainment company with radio and/or television stations in
the top U.S. Hispanic markets, including Puerto Rico.  The
Company's owned and operated radio stations serve markets
representing approximately 35% of the U.S. Hispanic population, and
its television operations serve markets representing over 3.5
million Hispanic households.  The Company produces and distributes
Spanish-language content, including radio programs, television
shows, music and live entertainment through its radio stations and
its television group, MegaTV, which produces over 70 hours of
original programming per week.  MegaTV broadcasts via its owned and
operated stations in South Florida, Houston, and Puerto Rico and
through programming and/or distribution agreements with other
stations, as well as various cable and satellite providers.

Crowe Horwath LLP, in Fort Lauderdale, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2016, stating that the 12.5% Senior Secured
Notes had a maturity date of April 15, 2017.  Cash from operations
or the sale of assets was not sufficient to repay the notes and
other short term obligations when they became due, which resulted
in significant liquidity requirements on the Company that raise
substantial doubt about its ability to continue as a going
concern.

As of June 30, 2017, Spanish Broadcasting had $437.53 million in
total assets, $559.7 million in total liabilities and a total
stockholders' deficit of $122.2 million.  Spanish Broadcasting
reported a net loss of $16.34 million for the year ended Dec. 31,
2016, compared with a net loss of $26.95 million in 2015.

                          *     *     *

In May 2017, S&P Global Ratings withdrew its 'D' corporate credit
rating and issue-level ratings on Spanish Broadcasting System.  "We
withdrew the ratings because we were unlikely to raise them from
'D', based on SBS' ongoing plans to restructure its debt," said S&P
Global Ratings' credit analyst Scott Zari.  S&P had downgraded SBS
to 'D' on April 21, 2017, following the company's announcement that
it didn't repay its $275 million 12.5% senior secured notes that
were due April 15, 2017.

In April 2017, Moody's Investors Service downgraded SBS's corporate
family rating to 'Ca' from 'Caa2'.  SBS's 'Ca' corporate family
rating reflects an elevated expected loss rate following the
recently announced default under the company's 12.5% senior secured
notes due April 2017.


SUPERVALU INC: Activist Could Accelerate Change, Fitch Says
-----------------------------------------------------------
According to Fitch Ratings, recent activist demands could further
accelerate SUPERVALU Inc.'s (SVU; B/Stable) transformation to a
mainly wholesale distribution business and fast track the company's
recently announced plans to evaluate its owned real estate,
underperforming retail stores, and distribution network. However,
cash distributed to shareholders may be limited by restrictions in
SVU's $840 million term loan facility, which is secured by a
perfected first priority interest in SVU's real estate and other
assets that had a book value of $707 million at Sept. 9, 2017.

Blackwells Capital LLC, which owns an approximate 3.6% stake in
SVU, has proposed that SVU sell 30% of its 217 retail stores,
monetize owned real estate, and return cash to shareholders via
dividends and share repurchases. The activist has also suggested
that SVU make changes to its management team and board structure,
which portends a potential push for board representation. SVU owned
51% or 12.8 million square feet of its real estate consisting of
which 85% relates to 19 distribution centers and 15% relates to its
217 retail stores as of fiscal 2017 (February). These figures
exclude the distribution centers in Harrisburg, PA and Joliet, IL
purchased in the current fiscal year. The company does not pay a
common dividend and is operating under an interim CFO.

SVU's term loan agreement allows for the payment of dividends
subject to a fairly liberal restricted payments basket provided
that certain conditions are met but contains limitations on the use
of proceeds from asset sales including the sale of its retail
stores and real estate. Additionally according to covenants, 100%
of net cash proceeds from the sale of any term loan priority
collateral, inclusive of retail stores and real estate, must be
used to prepay the term loans or reinvested within a specified time
period if certain conditions are not met. In terms of sale and
lease back transactions involving term loan priority collateral,
the first $100 million of aggregate net cash proceeds and
thereafter 50% of the remainder must be used for debt reduction in
order for total secured leverage to be no greater than 2x. Fitch
estimates total secured leverage as defined by SVU's credit
agreement was less than 1.5x at the quarter ended Sept. 9, 2017.
The bond indenture governing SVU's $400 million 6.75% and $350
million 7.75% senior unsecured notes also requires sale and
leaseback proceeds be reinvested or used to pay down debt.

SVU's 'B' Issuer Default Rating (IDR) and Stable Outlook reflect
revenue and margin headwinds facing both its core wholesale
distribution and retail business due to heightened competition,
consolidation, and restructuring in the U.S. supermarket industry.
The ratings incorporate Fitch's expectation of total adjusted
debt/EBITDAR in the 4.0x range and positive FCF. However, should a
change in financial strategy occur, SVU's ratings would be
evaluated.

Inclusive of Unified Grocers, Inc. (Unified) and Associated Grocers
of Florida (AG of Florida), Fitch estimates SVU's wholesale
distribution segment will approximate roughly 75% of its $16.7
billion of pro forma sales, up from under 50% total sales in fiscal
2017. The remaining 25% consist of sales generated by five retail
grocery banners: Cub Foods, Farm Fresh, Shop 'n Save, Shoppers Food
& Pharmacy and Hornbachers. .

Fitch views the closing or divesting retail stores as logical given
SVU's wholesale distribution focused strategy and that retail
segment EBITDA has declined 45% from $247 million in fiscal 2016
(February) to $135 million for the LTM. However, transactions
involving these stores would likely consider depressed industry
multiples, pension liabilities, and foregoing revenue or EBITDA SVU
earns from distributing to these stores. Fitch estimates SVU's
retail segment represents about 25% of the company's approximate
$540 million of pro forma EBITDA inclusive of Unified and the
pending AG of Florida acquisition which generated an estimated $20
million of EBITDA.

Fitch currently rates SVU as follows:

SUPERVALU INC.
-- Long-Term IDR 'B';
-- $1 billion secured revolving credit facility 'BB/RR1';
-- $840 billion secured term loan 'BB/RR1';
-- $750 million senior unsecured notes 'B-/RR5'.

The Rating Outlook is Stable.


THINK FINANCE: Has Interim OK To Use Cash; Hearing on Nov. 20
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas has
granted Think Finance, LLC, and its affiliates interim
authorization to use cash collateral to satisfy (i) any and all
prepetition date operating and other expenses approved by the
Court, (ii) obligations incurred in the ongoing post-petition date
operations of the Debtors' business, and (iii) any and all costs
and expenses arising in connection with the administration of the
Debtors' estates, including, without limitation, for the payment of
any fees and expenses owed to professionals employed by them in
these Chapter 11 cases upon the entry of court order authorizing
the payment of the professional's fees and expenses.

The final hearing on the Debtors' cash collateral use is scheduled
for Nov. 20, 2017, at 9:00 a.m. (prevailing Central Time).

Objections to the Debtors' cash collateral use must be filed by
4:00 p.m. (prevailing Central Time) on Nov. 13, 2017.  Responses to
the objections must be filed by 12:00 p.m. (prevailing Eastern
Time) on the day that is at least two business days before the
Final Hearing.

As reported by the Troubled Company Reporter on Nov. 3, 2017, the
Debtors sought court permission to use cash collateral to operate
their business and effectuate a reorganization of their business.
The Debtors disputed the validity of any liens asserted by Victory
Park Capital Advisors, LLC, its affiliates Victory Park Management,
LLC, and GPL Servicing Agent, LLC, and GPL Servicing, Ltd., and do
not concede that any party has a perfected security interest in the
cash collateral.  

The GPLS Secured Parties are granted, as security solely to the
extent of the diminution in the value of the cash collateral,
valid, perfected, and enforceable security interests in and upon
the collateral to the same extent, validity, and priority of the
security interests held by the GPLS Secured Parties as of the
Petition Date; provided, however, that the Replacement Liens will
be subject to a carveout for the U.S. Trustee fees and a carveout
in the amount of $100,000 for fees and expenses of professionals of
any committee appointed in this case, provided, further, that the
carveout will include amounts incurred in connection with
investigating the GPLS Secured Parties' liens but will not include
amounts incurred in connection with litigating concerning the GPLS
Secured Parties' liens.

A copy of the court order is available at:

           http://bankrupt.com/misc/txnb17-33964-37.pdf

                       About Think Finance

Think Finance, Inc. -- https://www.thinkfinance.com/ -- is a
provider of software technology, analytics, and marketing services
to financial clients in the consumer lending industry.  Think
Finance offers an end-to-end, professionally managed online lending
program.  The company's customized services allow clients to
create, develop, launch and manage their loan portfolio while
effectively serving customers.  For over 15 years, the company has
helped its clients originate over 2 million loans enabling them to
put more than $4 billion in credit on the street.

Think Finance, LLC, along with six affiliates, sought Chapter 11
protection (Bankr. N.D. Tex. Lead Case No. 17-33964) on Oct. 23,
2017.

Think Finance estimated assets of $100 million to $500 million and
debt of $10 million to $50 million.

The Hon. Harlin DeWayne Hale is the case judge.

The Debtors tapped Hunton & Williams LLP as counsel; Alvarez &
Marsal as financial advisor; and American Legal Claims Services,
LLC, as claims and noticing agent.


TREEHOUSE FOODS: Moody's Affirms Ba2 CFR; Outlook Remains Neg.
--------------------------------------------------------------
Moody's Investors Service has affirmed the Ba2 Corporate Family
Rating and Ba2-PD Probability of Default Rating of TreeHouse Foods,
Inc. ("TreeHouse") and assigned Ba2 ratings to $2.15 billion of
unsecured bank facilities being recast with extended maturities.
Moody's also upgraded the company's existing senior unsecured note
ratings to Ba2 from Ba3 following the release of collateral that
was previously pledged to its bank facility lenders. Finally,
Moody's affirmed the company's SGL-2 Speculative Grade Liquidity
rating. The outlook remains negative.

RATINGS RATIONALE

Moody's affirmed the TreeHouse's Ba2 Corporate Family Rating based
on the company's leading position as the nation's largest private
label food manufacturer and the attractive long-term growth
prospects of the US private label foods sector. The ratings are
supported by the company's scale advantages relative to peers that
affords unique abilities to service key customers nationwide. These
credit strengths are balanced against soft operating performance in
its core business due to challenges related to competitive pricing
strategy, input cost management and operating efficiency. In
addition, the company is still in the process of a difficult
integration of the troubled Private Brands' business acquired from
ConAgra Foods' in early 2016. These operational challenges, along
with high financial leverage and recent changes in senior
leadership ranks are reflected in the negative outlook.

Moody's has taken the following rating actions on TreeHouse Foods:

Ratings affirmed:

Corporate Family Rating at Ba2;

Probability of Default at Ba2-PD.

Speculative Grade Liquidity at SGL-2.

Ratings upgraded:

$400mm senior unsecured notes due 2022 at Ba2 (LGD4) from Ba3
(LGD5);

$775mm senior unsecured notes due 2024 at Ba2 (LGD4) from Ba3
(LGD5);

Ratings assigned:

$750mm senior unsecured revolving credit facility expiring 2022 at
Ba2 (LGD4);

$800mm senior unsecured term loan expiring 2022 at Ba2 (LGD4);

$600mm senior unsecured term loan expiring 2024 at Ba2 (LGD4);

The ratings outlook is negative.

TreeHouse recently launched a "TreeHouse 2020" restructuring
program to focus on improving revenue and margin through enhancing
the quality of its business mix and strengthening core operating
metrics. The program aims to add 300 basis points to operating
profit margin by 2020. Moody's anticipates that costs related to
the program will cause debt/EBITDA to increase from its already
high 4 times debt/EBITDA. This could result in a downgrade if by
mid-2018 the company has not demonstrated significant progress in
achieving the program goals and a clear path to restoring its
credit metrics. Moody's also expects that the company's CEO search
will have been complete by then.

The one-notch upgrade of the senior unsecured notes reflects
TreeHouse's decision to exercise its option to have collateral
released from the senior credit facilities after the company
achieved credit agreement-defined consolidated net leverage ratio
below 3.5x as of June 30, 2017. As a result of the collateral
release, the senior unsecured credit facilities now are ranked
pari-passu with the senior unsecured notes.

WHAT COULD CHANGE THE RATING DOWN / UP

A rating downgrade could occur if TreeHouse is unable to
successfully integrate and stabilize operating performance, or
financial policy becomes more aggressive. Quantitatively, if
debt/EBITDA is not likely to be near 4.0 times by the end of 2018,
retained cash flow to net debt falls below 16%, or the company's
earnings cushion against bank covenants falls below 10%, a
downgrade could occur.

An upgrade is unlikely in the near-term. However, over time through
the successful execution of its growth strategy, stable operating
performance and the continued balanced use of debt and equity to
finance acquisitions, an upgrade could occur if the company is able
to sustain debt/EBITDA below 3.0 times.

CORPORATE PROFILE

TreeHouse is a leading private label food manufacturer servicing
primarily the retail grocery and foodservice distribution channels.
It sells products within a wide array of food categories including:
beverages; salad dressings; snacks; beverage enhancers; pickles;
Mexican and other sauces; soup and infant feeding; cereals; dry
dinners; aseptic products; jams; and other products. Sales for the
twelve month period ended September 30, 2017 were approximately
$6.4 billion.

The principal methodology used in these ratings was Global Packaged
Goods published in January 2017.


TREEHOUSE FOODS: S&P Affirms BB CCR on Extended Credit Facilities
-----------------------------------------------------------------
S&P Global Ratings affirmed its 'BB' corporate credit rating on Oak
Brook, Ill.-based TreeHouse Foods Inc. The outlook is stable.

S&P said, "At the same time, we assigned our 'BB' issue-level
ratings on the company's proposed $2.15 billion credit facilities
consisting of a $750 million revolver due 2023, $800 million term
loan A-1 due 2023, and $600 million term loan A due 2025. Our '3'
recovery ratings on the senior unsecured credit facilities remain
unchanged, indicating our expectations of meaningful (50%-70%;
rounded estimate 65%) recovery in the event of a payment default.
We will withdraw the ratings on the company's existing $1.025
billion term loan A-2 due 2021 after this transaction closes.

"We also affirmed our 'BB' issue-level ratings on the company's
$400 million senior unsecured notes due 2022 and $775 million
senior unsecured notes due 2024. Our '3' recovery ratings on the
senior unsecured notes remain unchanged, indicating our
expectations of meaningful (50%-70%; rounded estimate 65%) recovery
in the event of a payment default.

"We estimate TreeHouse had roughly $2.7 billion in funded debt
outstanding as of Sept. 30, 2017.

"The affirmation reflects our expectation that TreeHouse will
maintain debt leverage around 4x or below. While we recognize the
company's turnaround and ramp-up of the acquired Private Brands
business from Conagra has lagged our previous expectations in terms
of revenue and EBITDA growth, we believe the good cash flow
generation and scale of the business still supports the 'BB'
rating.

"We expect additional modest deleveraging as the company implements
its "TreeHouse 2020" plan, a productivity program aimed at
increasing EBITDA margin by at least 300 basis points by 2020. We
also believe that financial policies are still in line with debt
leverage around 4x or below, despite the company's recent
announcement of a share repurchase program and our expectation that
TreeHouse will likely seek additional acquisitions over time. We do
not expect the company to increase debt to fund share repurchases.

"The stable outlook on TreeHouse reflects our expectation the
company will maintain leverage between 3x and 4x and will continue
to generate at least $200 million in free operating cash flow. This
incorporates our expectations that the company will maintain an
EBITDA margin in the low-teens area and will apply its free cash
flow to debt reduction, but will also modestly increase debt levels
for tuck-in acquisitions."


UNISYS CORP: Egan-Jones Cuts Sr. Unsecured Ratings to B
-------------------------------------------------------
Egan-Jones Ratings Company, on August 23, 2017, lowered the foreign
currency and local currency senior unsecured rating on debt issued
by Unisys Corp. to B from B+.  EJR also lowered the foreign
currency and local currency commercial paper ratings on the Company
to B from B+.

Unisys Corporation is a worldwide information technology services
and solutions company. The Company's services include systems
integration, outsourcing, infrastructure, server technology and
consulting.  The Company primarily serves the financial services,
public sector, communications, transportation, commercial and media
markets.


VITARGO GLOBAL: Wants to Continue Cash Use Through Jan. 31, 2018
----------------------------------------------------------------
Richard J. Laski, the Chapter 11 Trustee for Vitargo Global
Sciences, Inc., asks the U.S. Bankruptcy Court for the Central
District of California for permission to continue the use of cash
collateral through Jan. 31, 2018.

Various entities have asserted a security interest in the cash
collateral, however the Chapter 11 Trustee understands that senior
secured lender Fischer Capital Investments, LLC, is the only entity
with a true interest in the cash collateral to be used in the
Debtor's ongoing operations.

The Chapter 11 Trustee requires the use of cash collateral to pay
the costs and expenses associated with operating the Debtor's
business.  The primary expenses going forward relate to paying
rent, paying wages, purchasing goods, as well as funding a
settlement and purchase agreement with the Debtor's sole supplier
of raw goods that was previously approved by the Court and that
will allow the Debtor continued access to its nutritional
supplement product.  Additional funds will be required to pay for
general overhead, maintain current insurance, and pay the quarterly
fees due to the Office of the U.S. Trustee.

Secured creditors will receive replacement liens in the
post-petition cash and accounts receivables and the proceeds
thereof, to the same extent, validity, and priority as any lien
held by the secured creditor as of the petition date, to the extent
cash collateral is actually used by the Chapter 11 Trustee.
Additionally, the Chapter 11 Trustee will pay Fischer monthly
interest payments of $6,600 through Jan. 31, 2018, as additional
adequate protection and will also make the settlement payments to
Lila Ekonomistyrning, AB.

A copy of the Debtor's request is available at:

           http://bankrupt.com/misc/cacb17-10988-253.pdf

As reported by the Troubled Company Reporter on Aug. 31, 2017, the
Court granted on a final basis Richard J. Laski, the Chapter 11
Trustee for Vitargo Global Sciences, Inc.'s request for
authorization to use cash collateral.  The Chapter 11 Trustee may
use cash collateral through Oct. 31, 2017.

                  About Vitargo Global Sciences

Vitargo Global Sciences, Inc., was initially formed as Vitargo
Global Sciences, LLC, in June 2013, a follow-along entity of GENr8,
Inc., a predecessor business to the Debtor.  Conversion from LLC to
Inc. took place on September 2015.  The Company's line of business
includes manufacturing dry, condensed, and evaporated dairy
products.

Vitargo Global Sciences previously filed a Chapter 12 bankruptcy
petition on May 5, 1992 (N.D. Tex. Case No. 92-42174).

Vitargo Global Sciences, based in Irvine, California, filed a
Chapter 11 petition (Bankr. C.D. Cal. Case No. 17-10988) on March
15, 2017.  The petition was signed by Anthony Almada, chief
executive officer.  The Debtor estimated $1 million to $10 million
in both assets and liabilities.

Judge Theodor Albert presides over the case.

Michael Jay Berger, Esq., at the Law Offices of Michael Jay Berger,
served as the Debtor's bankruptcy counsel.  Damian Moos, Esq., at
Kang Spanos & Moos LLP, was the litigation counsel.  Jeffrey
Bolender, Esq., at Bolender Law Firm PC, served as the Debtor's
state court insurance coverage counsel.

On April 4, 2017, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors.  The Committee retained
Marshack Hays LLP, as general counsel.

Richard J. Laski has been appointed as the Chapter 11 Trustee.  The
Trustee hired Arent Fox LLP, as general bankruptcy and
restructuring counsel.


WERNER FINCO: S&P Assigns Then Withdraws 'B' Corp Credit Rating
---------------------------------------------------------------
S&P Global Ratings assigned its 'B' corporate credit rating to
U.S.-based Werner FinCo L.P. The outlook is stable.

At the same time, S&P affirmed and withdrew the corporate credit
rating on New Werner Holding Co. Inc. at the company's request.

The assignment of a 'B' corporate credit rating to Werner FinCo
L.P. and the withdrawal of the rating on New Werner Holding Co.
Inc. better reflect the corporate structure of the entity and is
being done at the issuer's request. S&P notes that the ratings
basis for both the current and previous rating are the same in that
both companies are part of the same overall corporate structure
with access to the entity's cash flows and assets.

S&P said, "The stable outlook reflects our expectation that
operating performance at Werner will be supported by its stable end
markets and leading market position, with leverage measures likely
to improve but remain in line with the rating at 5x-6x over the
next year. We view Werner as the market leader in its niche product
segments, and we expect it to continue to increase in size through
both organic and acquisitive growth during the next 12 months.

"We are likely to lower the rating one notch if the financial
sponsor materially increases debt to finance a dividend or
acquisition, the company's end markets experience a significant
decline in demand due to a disruption to the U.S. housing market,
or the company loses business from one of its primary customers
such that revenues decline by at least 10% or debt to EBTIDA
increases above 7x.

"We could raise the rating if the company's sales and profitability
outperform our base-case expectations. This could happen if the
company's growth initiatives in Europe develop faster than we
anticipate, market share increases and revenue grows at least 15%,
and gross margins improve approximately 100 basis points in 2017.
If this happens, the company could be in a position for an upgrade
in 2018, assuming financial sponsor ownership is committed to
keeping debt leverage below 5x."


WEST TEXAS BULLDOG: Wants to Continue Using Cash Collateral
-----------------------------------------------------------
West Texas Bulldog Oilfield Services, Inc., asks U.S. Bankruptcy
Court for the Western District of Texas for authorization to
continue using cash collateral.

The Debtor's primary source of income is the operation of its
business and the accounts receivable those activities generate.

Security Bank, which originally permitted the use of cash
collateral after a hearing, withdrew the right to use the cash
collateral alleging that the Debtor has now followed the terms of
the agreement.

As reported by the Troubled Company Reporter on Sept. 15, 2017, the
Court previously signed a final agreed order authorizing the Debtor
to use cash collateral for general corporate purposes and the costs
and expenses associated with this Case, but only in accordance with
the Debtor's cash forecast for the period ending Oct. 31, 2017.
The Debtor was liable to Security Bank under the Loan Agreements
and the other Loan Documents in the aggregate principal amount of
not less than $2,281,525, plus any and all other fees, costs, and
expenses.  The Debtor acknowledged that Security Bank holds valid,
enforceable, first priority, perfected liens and security interests
in the prepetition collateral and the cash collateral.   

The Debtor says that in order to remain in possession of its
properties and continue its business activities in an effort to
achieve successful reorganization, the Debtor must be permitted to
use cash collateral to pay the items provided for in the budget.
The Debtor currently has no present alternative borrowing source
from which the Debtor could secure additional funding to operate
the business.

In the event the Court does not authorize the Debtor's use of cash
collateral, the Debtor believes it will be unable to maintain its
current business operations and propose a plan of reorganization.
Without the use of cash collateral, the Debtor will be seriously
and irreparably harmed, resulting in substantial losses to the
Debtor's estate and its respective creditors.

In an effort to adequately protect the interests of the Bank in the
prepetition collateral for the Debtor's use of cash collateral, the
Debtor is offering to again provide the Bank with a replacement
lien, on the Debtor's accounts receivable generated postpetition
through the use of the collateral of the Bank.

A copy of the Debtor's request is available at:

          http://bankrupt.com/misc/txwb17-70126-126.pdf

            About West Texas Bulldog Oilfield Services

Headquartered in Odessa, Texas, West Texas Bulldog Oilfield
Services, Inc., is an auto body parts supplier.

West Texas Bulldog Oilfield Services filed for Chapter 11
bankruptcy protection (Bankr. W.D. Tex. Case No. 17-70126) on July
17, 2017, estimating its assets at between $100,000 and $500,000
and liabilities at between $1 million and $10 million.  The
petition was signed by Nicholas Solis, its member.

Judge Tony M. Davis presides over the case.

Jesse Blanco, Jr., Esq., at Jesse Blanco Attorney At Law, serves as
the Debtor's bankruptcy counsel.


WESTERN DIGITAL: Egan-Jones Cuts Sr. Unsec. Ratings to BB
---------------------------------------------------------
Egan-Jones Ratings Company, on August 25, 2017, lowered the foreign
currency and local currency senior unsecured ratings on debt issued
by Western Digital Corp. to BB from BB+.

Western Digital Corporation is an American computer data storage
company and one of the largest computer hard disk drive
manufacturers in the world, along with Seagate Technology.


ZEBRA TECHNOLOGIES: Egan-Jones Hikes Sr. Unsec. Ratings to B-
-------------------------------------------------------------
Egan-Jones Ratings Company, on August 24, 2017, raised the foreign
currency and local currency senior unsecured ratings on debt issued
by Zebra Technologies Corp. to B- from CCC+.  EJR also raised the
foreign currency and local currency commercial paper ratings on the
Company to B from C.

Zebra Technologies is a public company based in Lincolnshire,
Illinois, USA, that manufactures and sells marking, tracking and
computer printing technologies.


ZENITH MANAGEMENT: Hearing on Plan Outline Set for Dec. 7
---------------------------------------------------------
The Hon. Nancy Hershey Lord of the U.S. Bankruptcy Court for the
Eastern District of New York has scheduled for Dec. 7, 2017, at
11:00 a.m. prevailing Eastern Time) the hearing to consider the
approval of Zenith Management I, LLC's disclosure statement in
support of the Debtor's Chapter 11 plan dated Oct. 27, 2017.

Objections to the Disclosure Statement must be filed by Dec. 1,
2017, at 4:00 p.m. (prevailing Eastern Time).

                   About Zenith Management I

Zenith Management I, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. E.D.N.Y. Case No. 16-43485) on Aug. 3, 2016, disclosing
under $1 million in both assets and liabilities.  The Debtor is
represented by Gabriel Del Virginia, at the Law Office of Gabriel
Del Virginia.

No official committee of unsecured creditors has been appointed in
the case.


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Southern Pacific Janitorial Group, Inc.
   Bankr. C.D. Cal. Case No. 17-18926
      Chapter 11 Petition filed October 26, 2017
         See http://bankrupt.com/misc/cacb17-18926.pdf
         represented by: Michael Jay Berger, Esq.
                         LAW OFFICES OF MICHAEL JAY BERGER
                     E-mail: michael.berger@bankruptcypower.com

In re Kristin J. Wright
   Bankr. S.D. Cal. Case No. 17-06492
      Chapter 11 Petition filed October 26, 2017
         represented by: Thomas B. Gorrill, Esq.
                         E-mail: tgorrill@gorillalaw.com

In re Accurate Recovery of Michigan LLC
   Bankr. E.D. Mich. Case No. 17-22159
      Chapter 11 Petition filed October 26, 2017
         See http://bankrupt.com/misc/mieb17-22159.pdf
         represented by: Dennis M. Haley, Esq.
               WINEGARDEN, HALEY, LINDHOLM, AND ROBERTSON P.L.C.
                         E-mail: ecf@winegarden-law.com

In re Aquatic Pool & Spa, Inc.
   Bankr. S.D. Miss. Case No. 17-03983
      Chapter 11 Petition filed October 26, 2017
         See http://bankrupt.com/misc/mssb17-03983.pdf
         represented by: John D. Moore, Esq.
                         JOHN D. MOORE, P.A.
                         E-mail: john@johndmoorepa.com

In re GaDo, Inc.
   Bankr. W.D.N.C. Case No. 17-31752
      Chapter 11 Petition filed October 26, 2017
         See http://bankrupt.com/misc/ncwb17-31752.pdf
         represented by: R. Keith Johnson, Esq.
                         LAW OFFICES OF R. KEITH JOHNSON, P.A.
                         E-mail: rkjpa@bellsouth.net

In re Yasmin Khokhar
   Bankr. D.N.J. Case No. 17-31675
      Chapter 11 Petition filed October 26, 2017
         Filed Pro Se

In re Ploy Siam, LLC
   Bankr. D.N.J. Case No. 17-31699
      Chapter 11 Petition filed October 26, 2017
         See http://bankrupt.com/misc/njb17-31699.pdf
         represented by: Brian W. Hofmeister, Esq.
                         LAW FIRM OF BRIAN W. HOFMEISTER, LLC
                         E-mail: bwh@hofmeisterfirm.com

In re USA Tractor LLC
   Bankr. D.N.J. Case No. 17-31727
      Chapter 11 Petition filed October 26, 2017
         See http://bankrupt.com/misc/njb17-31727.pdf
         Filed Pro Se

In re Junction Elmhurst 27 Corp.
   Bankr. S.D.N.Y. Case No. 17-13017
      Chapter 11 Petition filed October 26, 2017
         See http://bankrupt.com/misc/nysb17-13017.pdf
         represented by: Alcides Alberto Casares, Esq.
                         LAW OFFICE OF ALCIDES A. CASARES
                         E-mail: alcides@casareslaw.com

In re Trena R. Nieto
   Bankr. E.D. Tex. Case No. 17-42339
      Chapter 11 Petition filed October 26, 2017
         represented by: Christopher J. Moser, Esq.
                         QUILLING SELANDER LOWNDS WINSLETT MOSER
                         E-mail: cmoser@qslwm.com

In re Gregorio Trevino and Maria Carmen Trevino
   Bankr. S.D. Tex. Case No. 17-70408
      Chapter 11 Petition filed October 26, 2017
         represented by: Marcos Demetrio Oliva, Esq.
                         MARCOS D. OLIVA, PC
                         E-mail: marcos@oliva.law

In re Vern's Auto Repair, LLC
   Bankr. W.D. Tex. Case No. 17-52471
      Chapter 11 Petition filed October 26, 2017
         See http://bankrupt.com/misc/txwb17-52471.pdf
         represented by: J. Todd Malaise, Esq.
                         MALAISE LAW FIRM
                         E-mail: notices@malaiselawfirm.com

In re Yolanda Osorio
   Bankr. E.D. Va. Case No. 17-13638
      Chapter 11 Petition filed October 27, 2017
         Filed Pro Se

In re Florida Cosmetogynecology, PLLC
   Bankr. S.D. Fla. Case No. 17-23003
      Chapter 11 Petition filed October 27, 2017
         See http://bankrupt.com/misc/flsb17-23003.pdf
         represented by: Chad T Van Horn, Esq.
                         VAN HORN LAW GROUP, P.A.
                         E-mail: Chad@cvhlawgroup.com

In re GANN Memorials, LLC
   Bankr. E.D.N.C. Case No. 17-05264
      Chapter 11 Petition filed October 27, 2017
         See http://bankrupt.com/misc/nceb17-05264.pdf
         represented by: Laurie B. Biggs, Esq.
                         STUBBS & PERDUE, PA
                         E-mail: efile@stubbsperdue.com

In re Carter Wilson Group LLC
   Bankr. D.N.J. Case No. 17-31791
      Chapter 11 Petition filed October 27, 2017
         See http://bankrupt.com/misc/njb17-31791.pdf
         represented by: Scott E. Kaplan, Esq.
                         LAW OFFICES OF SCOTT E. KAPLAN, LLC
                         E-mail: scott@sekaplanlaw.com

In re Daniel A. Badu
   Bankr. S.D.N.Y. Case No. 17-13032
      Chapter 11 Petition filed October 27, 2017
         represented by: Bruce I. Feinstein, Esq.
                         E-mail: brucefeinsteinesq@gmail.com

In re Family Practice Of Atlanta Medical Group LLC
   Bankr. N.D. Ga. Case No. 17-68802
      Chapter 11 Petition filed October 29, 2017
         See http://bankrupt.com/misc/ganb17-68802.pdf
         represented by: David G. Carter, Esq.
                         THE CARTER LAW PRACTICE, LLC
                         E-mail: dcarter@clgfirm.com

In re Patrick P. Ferrandino
   Bankr. D. Conn. Case No. 17-51311
      Chapter 11 Petition filed October 30, 2017
         represented by: Donald M. Brown, Esq.
                         E-mail: infopleadings@gmail.com

In re Jasper Ventures, LLC
   Bankr. D.D.C. Case No. 17-00603
      Chapter 11 Petition filed October 30, 2017
         See http://bankrupt.com/misc/dcb17-00603.pdf
         represented by: Daniel M. Press, Esq.
                         CHUNG & PRESS, P. C.
                         E-mail: dpress@chung-press.com

In re Ruth R. Walter
   Bankr. S.D. Fla. Case No. 17-23132
      Chapter 11 Petition filed October 30, 2017
         represented by: Chad T. Van Horn, Esq.
                         VAN HORN LAW GROUP, P.A.
                         E-mail: Chad@cvhlawgroup.com

In re 264 Lagoon Dr Lido Beach NY LLC (DE)
   Bankr. S.D. Fla. Case No. 17-23136
      Chapter 11 Petition filed October 30, 2017
         See http://bankrupt.com/misc/flsb17-23136.pdf
         represented by: Joel M. Aresty, Esq.
                         JOEL M. ARESTY P.A.
                         E-mail: aresty@mac.com

In re Katie Lee Douglas
   Bankr. D. Md. Case No. 17-24451
      Chapter 11 Petition filed October 30, 2017
         represented by: Jeffrey M. Sirody, Esq.
                         JEFFREY M. SIRODY AND ASSOCIATES, P.A.
                         E-mail: smeyers5@hotmail.com

In re Timothy M. Roewe and Lona S. Roewe
   Bankr. E.D. Mo. Case No. 17-47469
      Chapter 11 Petition filed October 30, 2017
         represented by: David M. Dare, Esq.
                         HERREN, DARE & STREETT
                         E-mail: ddare@hdsstl.com

In re Senior Oaks, LLC
   Bankr. S.D. Miss. Case No. 17-52141
      Chapter 11 Petition filed October 30, 2017
         See http://bankrupt.com/misc/mssb17-52141.pdf
         represented by: David L. Lord, Esq.
                         DAVID L. LORD AND ASSOCIATES, P.A.
                         E-mail: lordlawfirm@bellsouth.net

In re Jerry A. Nardella
   Bankr. D.N.J. Case No. 17-31934
      Chapter 11 Petition filed October 30, 2017
         represented by: Scott D. Sherman, Esq.
                         MINION & SHERMAN
                         E-mail: ssherman@minionsherman.com

In re Mina Namdar
   Bankr. E.D.N.Y. Case No. 17-76685
      Chapter 11 Petition filed October 30, 2017
         represented by: Salvatore LaMonica, Esq.
                         LAMONICA HERBST AND MANISCALCO
                         E-mail: sl@lhmlawfirm.com

In re Longo Commercial Cabinets, Inc.
   Bankr. E.D.N.Y. Case No. 17-76698
      Chapter 11 Petition filed October 30, 2017
         See http://bankrupt.com/misc/nyeb17-76698.pdf
         represented by: Gary M. Kushner, Esq.
                         GOETZ FITZPATRICK LLP
                         E-mail: gkushner@goetzfitz.com

In re Pattinis LLC
   Bankr. M.D. Fla. Case No. 17-09138
      Chapter 11 Petition filed October 30, 2017
         See http://bankrupt.com/misc/flmb17-09138.pdf
         represented by: Buddy D Ford, Esq.
                         BUDDY D. FORD, P.A.
                         E-mail: Buddy@TampaEsq.com

In re Clarence Wendell Clark and Sheniska P. Clark
   Bankr. D. Ariz. Case No. 17-12924
      Chapter 11 Petition filed October 31, 2017
         represented by: Thomas Allen, Esq.
                         ALLEN BARNES & JONES, PLC
                         E-mail: tallen@allenbarneslaw.com

In re Caroline C Mendoza
   Bankr. C.D. Cal. Case No. 17-19048
      Chapter 11 Petition filed October 31, 2017
         represented by: Todd L. Turoci, Esq.
                         THE TUROCI FIRM
                         E-mail: mail@theturocifirm.com

In re Masla Mani and Savitri Mani
   Bankr. C.D. Cal. Case No. 17-23443
      Chapter 11 Petition filed October 31, 2017
         represented by: Anthony Obehi Egbase, Esq.
                         A.O.E LAW & ASSOCIATES, APC
                         E-mail: info@aoelaw.com

In re David Tony Reyes
   Bankr. C.D. Cal. Case No. 17-23380
      Chapter 11 Petition filed October 31, 2017
         represented by: Matthew D. Resnik, Esq.
                         SIMON RESNIK HAYES LLP
                         E-mail: matt@srhlawfirm.com

In re Melek Tzadik Covenant Holdin
   Bankr. S.D. Cal. Case No. 17-06624
      Chapter 11 Petition filed October 31, 2017
         See http://bankrupt.com/misc/casb17-06624.pdf
         represented by: Justin Murphy, Esq.
                         JUSTIN MURPHY LAW GROUP

In re Joseph Yarnell Stock and Barbara JoAnne Stock
   Bankr. N.D. Ga. Case No. 17-68930
      Chapter 11 Petition filed October 31, 2017
         represented by: Paul Reece Marr, Esq.
                         PAUL REECE MARR, P.C.
                         E-mail: paul@paulmarr.com

In re David Arthur Sakin
   Bankr. D. Md. Case No. 17-24557
      Chapter 11 Petition filed October 31, 2017
         represented by: Jeffrey M. Sirody, Esq.
                         JEFFREY M. SIRODY AND ASSOCIATES, P.A.
                         E-mail: smeyers5@hotmail.com

In re Richard W. Lazaro and Corine B. Lazaro
   Bankr. D.N.M. Case No. 17-12759
      Chapter 11 Petition filed October 31, 2017
         represented by: Gerald R. Velarde, Esq.

In re Shalom S. Shy
   Bankr. E.D.N.Y. Case No. 17-76717
      Chapter 11 Petition filed October 31, 2017
         Filed Pro Se

In re Xtreme Gym, LLC
   Bankr. E.D.N.Y. Case No. 17-76748
      Chapter 11 Petition filed October 31, 2017
         See http://bankrupt.com/misc/nyeb17-76748.pdf
         Filed Pro Se

In re Next Listing, LLC
   Bankr. S.D. Tex. Case No. 17-36042
      Chapter 11 Petition filed October 31, 2017
         See http://bankrupt.com/misc/txsb17-36042.pdf
         represented by: Margaret Maxwell McClure, Esq.
                         LAW OFFICE OF MARGARET M. MCCLURE
                         E-mail: margaret@mmmcclurelaw.com

In re Robert Allen Alcozer and Mitzy Dianne Alcozer
   Bankr. S.D. Tex. Case No. 17-36044
      Chapter 11 Petition filed October 31, 2017
         represented by: Margaret Maxwell McClure, Esq.
                         LAW OFFICE OF MARGARET M. MCCLURE
                         E-mail: margaret@mmmcclurelaw.com

In re Mercyfull Home Health Inc.
   Bankr. S.D. Tex. Case No. 17-36049
      Chapter 11 Petition filed October 31, 2017
         See http://bankrupt.com/misc/txsb17-36049.pdf
         Filed Pro Se

In re Jessmy Farooq
   Bankr. E.D. Va. Case No. 17-13676
      Chapter 11 Petition filed October 31, 2017
         Filed Pro Se

In re Christopher Michael Pelletier
   Bankr. D.S.C. Case No. 17-05445
      Chapter 11 Petition filed November 01, 2017
         represented by: William K. Austin, Esq.
                         AUSTIN LAW FIRM, LLC
                         E-mail: waustin@austinlawsc.com
In re Freda Philomena D'Souza
   Bankr. C.D. Cal. Case No. 17-14351
      Chapter 11 Petition filed November 1, 2017
         represented by: Michael Jones, Esq.
                         M JONES & ASSOICATES, PC
                         E-mail: mike@mjthelawyer.com

In re Derron Timothy Lee and Leanne Ngoc Thi Lee
   Bankr. E.D. Cal. Case No. 17-27258
      Chapter 11 Petition filed November 1, 2017
         represented by: James A. Shepherd, Esq.

In re Mosadi, LLC
   Bankr. M.D. Fla. Case No. 17-09328
      Chapter 11 Petition filed November 1, 2017
         See http://bankrupt.com/misc/flmb17-09328.pdf
         represented by: Buddy D. Ford, Esq.
                         BUDDY D. FORD, P.A.
                         E-mail: Buddy@TampaEsq.com

In re S&R Snubbing, LLC
   Bankr. N.D. Ga. Case No. 17-69002
      Chapter 11 Petition filed November 1, 2017
         See http://bankrupt.com/misc/ganb17-69002.pdf
         represented by: Michael D. Robl, Esq.
                         ROBL LAW GROUP LLC
                         E-mail: michael@roblgroup.com

In re Elroy Joseph Miller and Krista D Miller
   Bankr. W.D. La. Case No. 17-51430
      Chapter 11 Petition filed November 1, 2017
         represented by: William C. Vidrine, Esq.
                         VIDRINE & VIDRINE
                         E-mail: williamv@vidrinelaw.com

In re RG & AK, Inc.
   Bankr. D. Md. Case No. 17-24634
      Chapter 11 Petition filed November 1, 2017
         See http://bankrupt.com/misc/mdb17-24634.pdf
         represented by: Dennis King, Esq.
                         DANOFF & KING, P.A.
                         E-mail: dwking31@gmail.com

In re Andrew Stuart Breiman
   Bankr. S.D.N.Y. Case No. 17-23677
      Chapter 11 Petition filed November 1, 2017
         represented by: Bruce R. Alter, Esq.
                         ALTER & BRESCIA, LLP
                         E-mail: altergold@aol.com

In re Chin-Hua Wang
   Bankr. E.D. Tex. Case No. 17-42387
      Chapter 11 Petition filed November 1, 2017
         represented by: Eric A. Liepins, Esq.
                         ERIC A. LIEPINS P.C.
                         E-mail: eric@ealpc.com

In re OPC Marketing, Inc.
   Bankr. N.D. Tex. Case No. 17-34095
      Chapter 11 Petition filed November 1, 2017
         See http://bankrupt.com/misc/txnb17-34095.pdf
         represented by: Eric A. Liepins, Esq.
                         ERIC A. LIEPINS P.C.
                         E-mail: eric@ealpc.com

In re Jose Luis Flores
   Bankr. E.D. Va. Case No. 17-13706
      Chapter 11 Petition filed November 1, 2017
         Filed Pro Se

In re Bassett Building Inc.
   Bankr. C.D. Cal. Case No. 17-14358
      Chapter 11 Petition filed November 2, 2017
         See http://bankrupt.com/misc/cacb17-14358.pdf
         represented by: Michael R. Totaro, Esq.
                         TOTARO & SHANAHAN
                         E-mail: Ocbkatty@aol.com

In re Melissa R. Erwin
   Bankr. N.D. Ind. Case No. 17-12145
      Chapter 11 Petition filed November 2, 2017
         represented by: Scot T. Skekloff, Esq.
                         HALLER & COLVIN, PC
                         E-mail: sskekloff@hallercolvin.com

In re Mary Kathryn O'Brien
   Bankr. D. Mass. Case No. 17-14104
      Chapter 11 Petition filed November 2, 2017
         represented by: John A. Ullian, Esq.
                         LAW OFFICES OF ULLIAN & ASSOC.
                         E-mail: john@ullianlaw.com

In re William L. Mooney, V and Dawn R. Mooney
   Bankr. D. Md. Case No. 17-24720
      Chapter 11 Petition filed November 2, 2017
         represented by: Bennie R. Brooks, Esq.
                         E-mail: bbrookslaw@aol.com

In re Spaulding Ave. Industrial Complex, LLC
   Bankr. D.N.H. Case No. 17-11545
      Chapter 11 Petition filed November 2, 2017
         See http://bankrupt.com/misc/nhb17-11545.pdf
         represented by: David P. Azarian, Esq.
                         AZARIAN LAW OFFICE, PLLC
                         E-mail: dazarian@azarianlaw.net

In re Shlomo Shor
   Bankr. E.D.N.Y. Case No. 17-45878
      Chapter 11 Petition filed November 2, 2017
         represented by: Alla Kachan, Esq.
                         LAW OFFICES OF ALLA KACHAN, P.C.
                         E-mail: alla@kachanlaw.com

In re 1485 2nd Avenue Restaurant LLC
   Bankr. S.D.N.Y. Case No. 17-13121
      Chapter 11 Petition filed November 2, 2017
         See http://bankrupt.com/misc/nysb17-13121.pdf
         represented by: Robert Leslie Rattet, Esq.
                         RATTET PLLC
                         E-mail: rrattet@rattetlaw.com

In re Semira Ahmed Hussien
   Bankr. W.D. Wash. Case No. 17-14845
      Chapter 11 Petition filed November 2, 2017
         represented by: Emily A. Jarvis, Esq.
                         WELLS AND JARVIS, P.S.
                         E-mail: emily@wellsandjarvis.com

In re MFB Properties LLC
   Bankr. S.D.N.Y. Case No. 17-36876
      Chapter 11 Petition filed November 3, 2017
         See http://bankrupt.com/misc/nysb17-36876.pdf
         represented by: Mike Pinsky, Esq.
                         HAYWARD, PARKER, O'LEARY & PINSKY
                         E-mail: hpoplaw@gmail.com

In re PS Systems, Inc.
   Bankr. D. Colo. Case No. 17-20197
      Chapter 11 Petition filed November 3, 2017
         See http://bankrupt.com/misc/cob17-20197.pdf
         represented by: Jeffrey S. Brinen, Esq.
                         KUTNER BRINEN, P.C.
                         E-mail: jsb@kutnerlaw.com

In re AM Healthcare Enterprise Ltd
   Bankr. E.D. Mo. Case No. 17-47612
      Chapter 11 Petition filed November 3, 2017
         See http://bankrupt.com/misc/moeb17-47612.pdf
         represented by: Sandra Moore-Dyson, Esq.
                         SANDRA MOORE-DYSON ATTORNEY-AT-LAW
                         E-mail: smooredyson@gmail.com

In re Shellise Bartom Montgomery
   Bankr. M.D. Tenn. Case No. 17-07496
      Chapter 11 Petition filed November 3, 2017
         Filed Pro Se

In re BJT Group, Inc.
   Bankr. M.D. Tenn. Case No. 17-07504
      Chapter 11 Petition filed November 3, 2017
         See http://bankrupt.com/misc/tnmb17-07504.pdf
         represented by: Steven L. Lefkovitz, Esq.
                         LAW OFFICES LEFKOVITZ & LEFKOVITZ
                         E-mail: slefkovitz@lefkovitz.com

In re Bo Ex Ventures, LLC
   Bankr. N.D. Tex. Case No. 17-34117
      Chapter 11 Petition filed November 3, 2017
         See http://bankrupt.com/misc/txnb17-34117.pdf
         represented by: H Joseph Acosta, Esq.
                         FISHERBROYLES, L.L.P.
                         E-mail: joseph.acosta@fisherbroyles.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.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

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 2017.  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
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firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
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