TCR_Public/180208.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, February 8, 2018, Vol. 22, No. 38

                            Headlines

ACCESS CIG: S&P Alters Outlook to Negative on Refinancing
ADVANCED CONTRACTING: Committee Taps Lowenstein Sandler as Counsel
ADVANCED CONTRACTING: Committee Taps Zolfo as Financial Advisor
AGS ENTERPRISES: Obtains Court Approval of Disclosure Statement
AMERICAN AGAPES&P Puts BB BB 2015B Bonds Rating on Watch Negative

ANTERO MIDSTREAM: S&P Raises CCR to 'BB+', Outlook Stable
ASCENT RESOURCES MARCELLUS: Seeks to Confirm Prepack Plan by March
ATD CAPITOL: Seeks April 9 Exclusive Plan Filing Period Extension
AUTO SUPPLY: Has Final OK on $10.5-Mil Financing, Cash Use
BALL CORP: Fitch Affirms BB+ Issuer Default Rating, Outlook Stable

BEAR METAL WELDING: Court Signs 5th Interim Cash Collateral Order
BEAULIEU GROUP: Has Final Approval to Access Cash Collateral
BLACK IRON: Sooner Machinery Buying Equipment for $3.1 Million
BON-TON STORES: Moody's Lowers PDR to D-PD Amid Bankr. Filing
CENVEO INC: Bankruptcy Filing Triggers Nasdaq Delisting Notice

CES ENERGY: DBRS Confirms B Issuer Rating, Trend Changed to Pos.
CHARLOTTE RUSSE: S&P Cuts CCR to 'SD' & 1st Lien Debt Rating to 'D'
CM EBAR: Feb. 6 Plan Confirmation Hearing Set
CORONADO GROUP: Moody's Puts B3 CFR on Review for Upgrade
CORONADO GROUP: S&P Puts 'B-' CCR on Watch Dev. Amid Curragh Deal

CREW ENERGY: DBRS Confirms B Issuer Rating, Trend Stable
CS360 TOWERS: Trustee's Sale of Sacramento Unit 109C for $85K OK'd
DAILY GAZETTE: Wants to Obtain $400K Loan, Use Cash Collateral
DEBORAH & DANIELLE: Seeks Interim Use of Cash Collateral
DEBORAH & DANIELLE: Taps Joyce W. Lindauer as Legal Counsel

DEX SERVICES: Proposes March 21 Auction of Equipment
DOLE FOOD: S&P Puts Ratings on on Watch Pos. on Total Produce Deal
DOMINICA LLC: Taps Pioneer as Real Estate Appraiser
ENSEQUENCE INC: Proposes April 12 Auction for All Assets
ENSEQUENCE INC: Rust Consulting Is Administrative Agent

ENSEQUENCE INC: Rust Consulting Is Claims Agent
ENSEQUENCE INC: Seeks to Hire Wyse Advisors, Appoint CRO
ENSEQUENCE INC: Wants Access to Cash Collateral Until June 13
EQUIAN BUYER: Moody's Affirms B2 CFR & Revises Outlook to Negative
EXPRO HOLDINGS: Prepackaged Plan Declared Effective

FINANCIAL 15: DBRS Confirms Pfd-4(high) on Preferred Shares
FIRST RIVER: Taps Akerman as Legal Counsel
FIRSTENERGY NUCLEAR: S&P Cuts Senior Unsecured Notes Rating to 'C'
FLEXI-VAN LEASING: Moody's Affirms B3 Corporate Family Rating
FLEXI-VAN LEASING: S&P Alters Outlook on 'CCC' CCR to Positive

FLORIDA FOLDER: Proposes Online Auction of Personal Property
GADFLY ENTERPRISES: U.S. Trustee Unable to Appoint Committee
GALVESTON BAY: Obtains Court Approval of Disclosure Statement
GRANTIERRA ENERGY: S&P Assigns B+ CCR & Rates $300M Notes B+
H N HINCKLEY: Voluntary Chapter 11 Case Summary

HAHN HOTELS: Disclosure Statement Has Conditional Approval
HARB PROPERTIES: Taps Susan M. Gray as Legal Counsel
HBC HOLDINGS: Moody's Withdraws Caa2 Corporate Family Rating
HELP KIDS: Case Summary & Unsecured Creditor
HOVNANIAN ENTERPRISES: Moody's Hikes Family Rating to Caa1

HOVNANIAN ENTERPRISES: S&P Raises CCR to 'CCC+', Outlook Stable
HYDROSCIENCE TECHNOLOGIES: Sale Proceeds to Fund Plan
IBEX LLC: Wants Access to Cash Collateral Through March 31
IHEARTMEDIA INC: S&P Lowers CCR to SD on Missed Interest Payment
INRETAIL CONSUMER: Moody's Alters Outlook to Neg. & Affirms Ba1 CFR

INTERNATIONAL PLACE: Case Summary & Top Unsecured Creditors
JANE STREET: Moody's Affirms Ba3 Rating; Outlook Remains Stable
JBS USA: S&P Rates New $700M Unsec. Notes Due 2028 'B'
JERUSALEM MISSIONARY: Taps Charles Tyler as Legal Counsel
LAUREL OF ASHEVILLE: Seeks to Hire Precision as Accountant

LITTLE MIAMI: Moody's Withdraws Ba1 Issuer and GOLT Ratings
LIVE OAK HOLDING: Court Asked to Extend Terms of PCMI Employment
LUX HOLDCO III: S&P Assigns 'B' CCR, Outlook Stable
MACK-CALI REALTY: Moody's Assigns (P)Ba2 Pref. Stock Shelf Rating
MATTEL INC: S&P Affirms 'BB-' CCR Despite Weak Quarter Performance

MEG ENERGY: Fitch Affirms 'B' IDR; Outlook Remains Negative
MERITOR INC: Moody's Alters Outlook to Pos. & Affirms B1 CFR
MICHIGAN COMMERCIAL: Taps Stevenson & Bullock as Legal Counsel
MOLINA HEALTHCARE: S&P Lowers CCR to 'BB-', Outlook Stable
MOUNTAIN CRANE: Committee Taps Archer & Greiner as Legal Counsel

MOUNTAINEER GAS: Fitch Affirms BB+ Long-Term IDR; Outlook Stable
NORTHERN OIL: S&P Cuts CCR to 'CC' on Proposed Debt Exchange
NOVA ACADEMY: S&P Lowers Rating on 2016A/B Bonds to BB
OCEAN SPRAY: Fitch Affirms 'BB' IDR & Alters Outlook to Stable
ON ASSIGNMENT: Moody's Affirms 'Ba2' Corporate Family Rating

ON ASSIGNMENT: S&P Rates New $822MM Senior Secured Term Loan 'BB'
ONCAM INC: TONN Investment to Auction Property on Feb. 14
PATRIOT NATIONAL: Taps Prime Clerk as Claims Agent
PAWN AMERICA: Unsecured Creditors to Get 10% to 15% Over 5 Years
PAYAM NAWAB: Bhat Buying Rockville Property for $197K

PKC ENTERPRISES: Taps David L. Buterbaugh as Accountant
PREFERRED VINTAGE: $4.3M Sale of Sonoma Property to Kashubas Okayed
PREMIER PCS OF TX: $560K Sale of Eight Stores to Ung Tak Han Okayed
RAGGED MOUNTAIN: Seeks Access to Cash Collateral Through April 30
REAL INDUSTRY: S&P Withdraws 'D' Corporate Credit Rating

REVLON INC: S&P Cuts CCR to CCC+ on High Leverage, Outlook Stable
RMG ENTERPRISES: U.S. Trustee Unable to Appoint Committee
ROBERT E. HICKS: U.S. Trustee Forms Two-Member Committee
ROBERTSHAW US: Moody's Assigns B2 CFR & Rates 1st Lien Debt B1
ROBERTSHAW US: S&P Rates $480MM 1st Lien Loan Due 2025 'B'

ROCK STAR CHEF: Plan Outline Has Conditional Court Approval
RYDER MEMORIAL: S&P Lowers 1994A Bonds Rating to CCC+, Off Watch
SAMUEL WYLY: Fain Buying Arlington Stoneridge Interest for $68K
SANCHEZ ENERGY: Moody's Rates Proposed $400MM 1st Lien Notes 'B1'
SANCHEZ ENERGY: S&P Affirms 'B' CCR & Alters Outlook to Stable

SCANA CORP: Moody's Lowers Senior Unsecured Debt Rating to Ba1
SCHANTZ MFG: Court Terminates Access to Cash Collateral
SENTRIX PHARMACY: Intends to File Chapter 11 Plan by April 16
SIX A CORPORATION: Seeks March 5 Exclusive Plan Filing Extension
SPINLABEL TECHNOLOGIES: Seeks April 6 Plan Exclusivity Extension

STONE CONNECTION: Seeks Interim Access to Cash Collateral
SUNCOAST INTERNAL: Taps Appelt & Associates as Accountant
SUNSHINE SEATTLE: Second Interim Cash Collateral Order Entered
TEAM HEALTH: Acquisition of EMC Credit Positive, Moody's Says
TEAM HEALTH: Fitch Cuts Issuer Credit Rating to B-, Outlook Stable

TRICO GROUP: S&P Affirms 'B' Rating on $425MM 1st Lien Loan
TVC ALBANY: S&P Cuts 1st Lien Debt Rating to 'B-' Amid Loan Add-on
VANGUARD HEALTHCARE: May Use Cash to Pay Litigation Counsel
VIRTUS INVESTMENT: S&P Lowers ICR to 'BB', Outlook Stable
WALTER INVESTMENT: Preparing Draft 2018 Business Plan

WALTER INVESTMENT: To Change Name to Ditech Following Ch.11 Exit
WESTPAC RESTORATION: Ballard Now Counsel After Merger
WHICKER ASSET: Unsecured Creditors' Recovery Cut to 12%
WILD CALLING: Taps Hoogendyk & Associates as Accountant
WILLIAM NATALE: Uptown Buying Hoboken Property for $975K

WOODBRIDGE GROUP: Shutts & Bowen Represents Noteholders
[*] 12 Ervin Cohen & Jessup Attorneys Named to Super Lawyers List
[*] Ballard Spahr's Ethan Birnberg Wins Cordova Service Award
[*] Bruce Passen Joins Tiger Group as Managing Director
[*] Middleton Joins Houlihan Lokey's Hong Kong Restructuring Team

[*] Moody's B3 Negative and Lower Corporate Ratings Down in January
[*] Outten & Golden Bags Law360 Practice Group of the Year Award
[*] Restructuring Vet Jim McKnight Joins Houlihan Lokey in Sidney
[^] Recent Small-Dollar & Individual Chapter 11 Filings

                            *********

ACCESS CIG: S&P Alters Outlook to Negative on Refinancing
---------------------------------------------------------
S&P Global Ratings revised its rating outlook on Livermore,
Calif.-based Access CIG LLC to negative from stable and affirmed
its 'B' corporate credit rating on the company.

S&P said, "At the same time, we assigned our 'B' issue-level and
'3' recovery ratings to the company's proposed senior secured
first-lien credit facility, which comprises a $60 million revolving
credit facility due in 2023, a $575 million term loan due 2025 and
a $120 million delayed-draw term loan due in 2025. The '3' recovery
rating indicates our expectation for meaningful recovery (50%-70%;
rounded estimate: 50%) of principal for debtholders in the event of
a default.

"We also assigned our 'CCC+' issue-level and '6' recovery ratings
to the company's proposed senior secured second-lien credit
facility, which comprises a $215 million term loan due 2026 and a
$40 million delayed-draw term loan due in 2026. The '6' recovery
rating indicates our expectation for negligible recovery (0%-10%;
rounded estimate: 0%) of principal for debtholders in the event of
a default.

"We will withdraw our ratings on the company's existing first- and
second-lien credit facilities once the refinancing closes.

"The negative rating outlook reflects our expectation that Access
will pursue its aggressive growth strategy, driven by acquisitions,
and use the delayed-draw facilities over the next 12 months to fund
acquisitions at purchase multiples similar to prior acquisitions
and for general working capital purposes. We also expect the
company's adjusted leverage will remain above 7x through 2018 and
decline to below 7x in 2019. Additionally, we expect the company's
adjusted FOCF to debt will improve to 5% in 2019. We could lower
the corporate credit rating if we believe the company's leverage
will remain above 7x or its FOCF to debt will remain below 3% on a
sustained basis.

"The negative outlook reflects our expectation that Access'
leverage will remain above 7x and its FOCF to debt will be around
5% over the next 12 months due to debt-financed acquisitions and
associated integration costs.

"We could lower the corporate credit rating if we expect leverage
to remain above 7x and FOCF to debt to be below 3% on a sustained
basis. We could also lower the rating if the company encounters
challenges integrating acquisitions or if it faces competitive
pressures that result in revenue declines and tighter EBITDA
margins.

"We could revise the outlook to stable if the company continues to
increase organic revenue and successfully integrates acquisitions
such that FOCF to debt remains above 5% and leverage declines to
the mid- to high-6x range on a sustained basis."


ADVANCED CONTRACTING: Committee Taps Lowenstein Sandler as Counsel
------------------------------------------------------------------
The official committee of unsecured creditors of Advanced
Contracting Solutions, LLC seeks approval from the U.S. Bankruptcy
Court for the Southern District of New York to hire Lowenstein
Sandler LLP as its legal counsel.

The firm will advise the committee regarding its duties under the
Bankruptcy Code; assist in its consultations with the Debtor;
investigate the Debtor's business operation and financial
condition; represent the committee in matters related to asset
disposition, financing or the formulation of a plan of
reorganization; and provide other legal services related to the
Debtor's Chapter 11 case.

The firm's hourly rates are:

     Partners                    $600 - $1,195  
     Senior Counsel/Counsel      $420 - $700
     Associates                  $315 - $595
     Paralegals/Assistants       $115 - $300

Lowenstein Sandler has agreed to reduce its attorneys' hourly rates
by 10%.  

Jeffrey Cohen, Esq., a partner at Lowenstein Sandler, disclosed in
a court filing that his firm is a "disinterested person" as defined
in section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Jeffrey Cohen, Esq.
     Eric S. Chafetz, Esq.
     Lowenstein Sandler LLP   
     1251 Avenue of the Americas
     New York, NY 10020
     Tel: (212) 262-6700 / (212) 419-5868
     Fax: (212) 262-7402 / (973) 597-2400
     E-mail: jcohen@lowenstein.com
             echafetz@lowenstein.com

          – and –

     Kenneth A. Rosen, Esq.
     Michael Papandrea, Esq.
     Lowenstein Sandler LLP
     One Lowenstein Drive
     Roseland, NJ 07068
     Tel: (973) 597-2500
     Fax: (973) 597-2400
     E-mail: krosen@lowenstein.com
             mpapandrea@lowenstein.com

                    About Advanced Contracting

Advanced Contracting Solutions, LLC -- http://www.acsnyllc.com/--
is a large open-shop concrete foundation and concrete
super-structure contractor.

Advanced Contracting Solutions sought protection under Chapter 11
of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 17-13147) on Nov.
6, 2017.  

Judge Sean H. Lane presides over the case.

At the time of the filing, the Debtor estimated assets of $10
million to $50 million and liabilities of $50 million to $100
million.

Tracy L. Klestadt, Esq., Brendan M. Scott, Esq., and Fred Stevens,
Esq., at Klestadt Winters Jureller Southard & Stevens, LLP, serve
as the Debtor's bankruptcy counsel.

On Dec. 8, 2017, the U.S. Trustee for Region 2 appointed an
official committee of unsecured creditors.


ADVANCED CONTRACTING: Committee Taps Zolfo as Financial Advisor
---------------------------------------------------------------
The official committee of unsecured creditors of Advanced
Contracting Solutions, LLC seeks approval from the U.S. Bankruptcy
Court for the Southern District of New York to hire Zolfo Cooper,
LLC, as its financial advisor and bankruptcy consultant.

The firm will advise the committee regarding the sale of the
Debtor's business or assets; monitor the Debtor's cash flow and
operating performance; analyze claims; investigate potential
preferential transfers and fraudulent conveyances; advise the
committee on the Debtor's proposed plan of reorganization; and
provide other services related to the Debtor's Chapter 11 case.

The firm's hourly rates in effect as of Jan. 1 range from $850 to
$1,035 for managing directors, $320 to $850 for professional staff,
and $70 to $300 for support personnel.

David MacGreevey, managing director of Zolfo Cooper, disclosed in a
court filing that the members and employees of the firm do not hold
or represent any interest adverse to the Debtor and its creditors

The firm can be reached through:

     David MacGreevey
     Zolfo Cooper, LLC
     Grace Building
     1114 Avenue of the Americas, 41st Floor
     New York, 10036 US
     Tel: +1 212-561-4000 / +1 212-561-4187
     Fax: +1 212-213-1749
     E-mail: dmacgreevey@zolfocooper.com

                    About Advanced Contracting

Advanced Contracting Solutions, LLC -- http://www.acsnyllc.com/--
is a large open-shop concrete foundation and concrete
super-structure contractor.

Advanced Contracting Solutions sought protection under Chapter 11
of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 17-13147) on Nov.
6, 2017.  

Judge Sean H. Lane presides over the case.

At the time of the filing, the Debtor estimated assets of $10
million to $50 million and liabilities of $50 million to $100
million.

Tracy L. Klestadt, Esq., Brendan M. Scott, Esq., and Fred Stevens,
Esq., at Klestadt Winters Jureller Southard & Stevens, LLP, serve
as the Debtor's bankruptcy counsel.

On Dec. 8, 2017, the U.S. Trustee for Region 2 appointed an
official committee of unsecured creditors.


AGS ENTERPRISES: Obtains Court Approval of Disclosure Statement
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas has
approved the disclosure statement explaining AGS Enterprises, Inc.,
and KLN Steel Products Company, LLC's Second Amended Joint Plan of
Reorganization.

Unsecured creditors with allowed claims of $5,000 or less will
receive a cash dividend from the trust equal to 25% of their
allowed claim.  Pursuant to the terms of a settlement, the United
States will receive a promissory note from the Reorganized Debtors
in the face amount of $3 million, at 0% interest.

A full-text copy of the Second Amended Disclosure Statement dated
Dec. 20, 2017, is available at:

          http://bankrupt.com/misc/txnb16-34322-254.pdf

                     About AGS Enterprises

AGS Enterprises, Inc., and KLN Steel Products Company, LLC, each
filed a chapter 11 petition (Bankr. N.D. Tex. Case Nos. 16-34322
and 16-34323, respectively) on Nov. 2, 2016.  The cases are jointly
administered.  In the petitions signed by Kelly O'Donnell,
president, the Debtors estimated assets and liabilities at $1
million to $10 million at the time of the filing.  The case is
assigned to Judge Stacey G. Jernigan.  

The Debtors initially sought and obtained approval to hire Coats
Rose, P.C., as counsel.  After Frank Jennings Wright and two others
moved to Gardere Wynne Sewell LLP, the Debtors sought and obtained
approval to hire Gardere as replacement for Coats Rose.


AMERICAN AGAPES&P Puts BB BB 2015B Bonds Rating on Watch Negative
-----------------------------------------------------------------
S&P Global Ratings placed its 'BBB' rating on Public Finance
Authority, Wis.' series 2015A multifamily housing revenue bonds,
and its 'BB' rating on the authority's series 2015B bonds, all
issued for the American Agape Foundation (TX) Portfolio Project, on
CreditWatch with negative implications.

"The negative CreditWatch reflects our opinion of the project's
lower-than-expected debt service coverage," said S&P Global Ratings
credit analyst Raymond Kim. "We anticipate receiving updated 2017
financial data within 90 days. Should coverage remain below 1.10x
for either class of bonds, we will likely lower the ratings." An
improvement in debt service coverage could lead to an affirmation
or positive rating action.

The bonds were issued to finance the acquisition and rehabilitation
of three multifamily rental housing properties, each owned by one
of three limited liability companies, the sole member of which is
Agape 2015 Portfolio Inc., an affiliate of American Agape
Foundation. The properties, with a total of 327 units, are: Himbola
Manor in Lafayette, La.; Canaan Tower in Shreveport, La.; and Park
Lake in Fayetteville, Ark.


ANTERO MIDSTREAM: S&P Raises CCR to 'BB+', Outlook Stable
---------------------------------------------------------
S&P Global Ratings said it raised its corporate credit rating on
Antero Midstream Partners L.P. and its issue-level rating on the
limited partnership's unsecured debt to 'BB+' from 'BB'. The
outlook remains stable. The recovery rating on the debt remains
'3', indicating S&P's expectation that lenders will receive
meaningful (50%-70%; rounded estimate: 65%) recovery in the event
of a payment default.

S&P said, "Our 'BB+' corporate credit rating on Antero Midstream
Partners L.P. reflects our fair assessment of the partnership's
business risk profile and our intermediate assessment of its
financial risk profile. Antero Midstream is a publicly traded MLP
created by exploration and production (E&P) company Antero
Resources Corp. to own, operate, and develop its midstream assets
in the Marcellus and Utica shale formations. Specifically, Antero
Resources Corp. owns approximately 53% of Antero Midstream Partners
L.P.'s units and has dedicated substantially all of its current and
future acreage to the partnership under long-term fixed fee
gathering compression and water services contracts." Antero
Midstream receives the vast majority of its volumes from Antero
Resources Corp. in relatively concentrated areas in the Marcellus
and Utica shale formations. S&P views Antero Midstream as
strategically important to Antero Resources Corp.

S&P said, "The stable outlook on Antero Midstream reflects our
expectation that the partnership will continue to increase its
volumes as Antero Resources' production grows. We anticipate that
the partnership will sustain adjusted debt to EBITDA of about 2.5x
in 2018 and 2019 while maintaining adequate liquidity. In addition,
we expect Antero Midstream Partners L.P. to maintain healthy
distribution coverage of about 1.3x in 2018 and 2019.

"We could lower our ratings on Antero Midstream if we lowered our
ratings on Antero Resources Corp.

"We could lower the ratings on Antero Resources Corp. if its cash
flow expectation weakened below our current expectations, such that
FFO to debt fell below 30% with no near-term remedy. Given our
current forecast for Antero Resources Corp. and its favorable hedge
position, we consider such a decline unlikely over the next 12
months. We could also consider a lower rating if the company
pursued a more aggressive financial policy that resulted in a
deterioration of credit measures.

"In addition, we could lower our ratings on Antero Midstream if we
lowered our stand-alone credit profile (SACP) on the partnership.
For example, we could lower our SACP on the partnership if its debt
to EBITDA increased above 4x on a sustained basis. This could occur
if Antero Midstream adopted a more aggressive financial profile or
undertook a debt-financed acquisition that is not financed in a
balanced manner.

"Although unlikely in the near term, we could raise our ratings on
Antero Midstream if we raised our ratings on Antero Resources Corp.
and raised our SACP on the partnership.

"We could consider a positive rating action on Antero Resources
Corp. if its consolidated leverage measures improved such that FFO
to total debt exceeded 45% and debt to EBITDA declined closer to 2x
on a sustained basis. This would most likely occur if the company
began generating positive discretionary cash flow by further
improving profitability or executing greater capital efficiency. In
addition for an upgrade, we need to expect that Antero Resources
Corp. will be committed to maintaining a financial policy
appropriate for an investment-grade profile.

"Furthermore, we could raise our SACP on Antero Midstream if the
partnership increased the size, scale, and diversity of its
business or maintained a much more conservative financial profile
on a sustained basis."


ASCENT RESOURCES MARCELLUS: Seeks to Confirm Prepack Plan by March
------------------------------------------------------------------
Ascent Resources Marcellus Holdings, LLC and its wholly owned
subsidiaries, Ascent Resources - Marcellus, LLC and Ascent
Resources Marcellus Minerals, LLC commenced chapter 11 cases on
Feb. 6, 2018, to seek confirmation of a restructuring plan that
says that creditors owed at least $1 billion will receive most of
the equity in the reorganized debtor.

"The Plan is the outcome of extensive negotiations among the
Debtors and the Supporting Creditors that began over a year ago.
The Plan contemplates a restructuring that provides for, among
other things, debt for equity conversions with respect to the Term
Loans and payment in full in cash of General Unsecured Claims.  The
restructuring contemplated by the Restructuring Support Agreement
and the Plan will deleverage the Debtors' balance sheet and leave
them positioned to succeed in the highly competitive natural gas
and oil industry," CEO Jeffrey A. Fisher explains in court
filings.

"In late 2014, natural gas, oil and NGL prices began declining as a
result of several factors, including increased supplies, relatively
mild weather in the United States and weak global economic growth.
Natural gas, oil and NGL prices continued to decline throughout
2015 and remained suppressed throughout 2016 and 2017," Robert W.
Kelly II, General Counsel and Secretary, explained in court
filings.

The Debtors' net loss for 2016 was $677 million, representing an
increase in the Debtors' net loss of $513 million from fiscal year
2015.  Additionally, the Debtors' unaudited net loss for the year
ended December 31, 2017 was $98 million.

As of the Petition Date, ARM had an unrestricted cash balance of
$10 million and restricted cash of $192 million.

                     Prepetition Indebtedness

A. The First Lien Term Loan

The Debtors are party to a $750 million senior first lien secured
term loan facility, dated as of Aug. 4, 2014 (the "First Lien
Credit Facility"), with Cortland Capital Market Services LLC
("Cortland") as successor administrative and collateral agent to
Citibank, N.A. ("Citi") and certain lenders party thereto (the
"First Lien Lenders").  The First Lien Credit Facility was fully
drawn on August 4, 2014 and matures on August 4, 2020. As of the
date hereof, approximately $708 million remains outstanding in
principal under the First Lien Credit Facility.

In connection with the First Lien Credit Facility, the Debtors
established a capital expenditures reserve account (the "CapEx
Account"), initially funded by $300 million of the First Lien
Credit Facility proceeds. If certain conditions are satisfied, the
Debtors are entitled to withdraw funds from the CapEx Account for a
number of purposes, including the development of certain acreage,
the acquisition of certain properties to address title and
environmental defects subsequent to the initial acquisition of
properties in August 2014, and for general corporate purposes,
including debt service. As of the Petition Date, the balance of the
CapEx Account is $106 million.

B. The Second Lien Term Loan

The Debtors also are party to a $450 million senior second lien
secured term loan facility, dated as of August 4, 2014 (the "Second
Lien Credit Facility"), with Cortland as successor administrative
and collateral agent to Citi and certain lenders party thereto (the
"Second Lien Lenders").  The Second Lien Credit Facility was fully
drawn on August 4, 2014 and matures on August 4, 2021.  In April
and May 2016, ARO repurchased approximately $102 million principal
amount of the Second Lien Term Loans in the open market.  ARO
contributed these repurchased loans to ARM Holdings and they were
subsequently cancelled and extinguished. As of the Petition Date,
approximately $348 million remains outstanding in principal under
the Second Lien Credit Facility.

                        Road to Chapter 11

In April 2016, in anticipation of a potential restructuring of the
Debtors, the First Lien Term Loan Agent engaged Davis Polk &
Wardwell LLP as counsel, and in December 2016, engaged Moelis &
Company as financial advisors.

In light of adverse market conditions, starting in the fall of
2016, the Debtors commenced negotiations with Davis Polk, Moelis,
and certain Holders of First Lien Term Loans and Second Lien Term
Loans.

These negotiations revolved around a restructuring pursuant to
which the existing management team would remain in place and
implement a new business plan and the Debtors would continue as a
going concern. The parties exchanged eighteen proposals, revised
proposals and counteroffers between the months of January and July
2017.

These discussions continued and ultimately, on September 5, 2017,
the Debtors entered into the Restructuring Support Agreement.  The
Restructuring Support Agreement established a dual-path consensual
resolution.  First, the parties agreed to a timeline for the
Debtors and the Supporting Creditors to pursue a marketing process
for the sale of all or substantially all of the Debtors' assets.
Second, simultaneous to the marketing process, the parties agreed
to pursue a consensual reorganization pursuant to which the First
and Second Lien Term Lenders would convert their debt to equity,
all general unsecured creditors would be unimpaired and the
existing management team would continue to manage the business in
exchange for equity in the reorganized Debtors. As of the Petition
Date, Supporting Creditors that own or manage with the authority to
act on behalf of the beneficial owners of 78% in principal amount
of the First Lien Term Loan and 79% in principal amount of the
Second Lien Term Loan are party to the Restructuring Support
Agreement.

The Restructuring Support Agreement establishes the framework for
the development and solicitation of the Plan, which has been
formulated not only to eliminate debt, but to maintain the
underlying value of the Debtors' businesses and to position the
Debtors for future growth.  This process was designed to save the
Debtors significant administrative costs, and will result in a far
better outcome for the estates than a potential free-fall
bankruptcy that could be necessary without the Restructuring
Support Agreement.  The Debtors believe that a protracted
bankruptcy could ultimately threaten their ability to reorganize.

The Restructuring Support Agreement represents a significant step
forward in resolving the Debtors' financial difficulties by
right-sizing their balance sheet through a consensual and swift
restructuring process.  In addition to reducing funded debt, the
Restructuring Support Agreement negotiations resulted in binding
term sheets (incorporated therein) that set forth the materials
terms of the Plan, the Reorganized Debtor's corporate governance,
and the New Management Services Agreement.  The Restructuring
Support Agreement also avoids the risk and expense of a contested
bankruptcy process, with potential fights over use of the Debtors'
cash, treatment of claims, and valuation.

                   Summary of Chapter 11 Plan

The Plan, which is supported by the Supporting Creditors, will
achieve the Debtors' restructuring goals by reducing the Debtors'
total funded debt and continuing the Debtors' operations as a going
concern.

The Plan contemplates, among other things, the occurrence of these
transactions on the Effective Date:

   * The reorganized debtors will enter into the new first lien
term loan.  The security interests and liens securing the New First
Lien Term Loan will have priority over all other security interests
and liens in the assets of the Reorganized Debtors.

   * Holders of allowed first lien term loan claims will receive
pro rata portions of the New First Lien Term Loan.  In addition,
Holders of Allowed First Lien Term Loan Claims will receive 96.56%
of the initial New ARM Holdings Interests, subject to dilution and
warrants.  Holders of First Lien Term Loan Claims owed $749 million
will have a recovery of 64.6% to 81.5%.

   * Holders of allowed second lien term loan claims will receive
3.44% of the initial New ARM Holdings Interests, subject to
dilution and warrants.  Holders of second lien term loan claims
owed $378.7 million will recover 3.4% to 6.8%.

   * Holders of allowed general unsecured claims will receive cash
in the amount of its allowed general unsecured claim.  Holders of
general unsecured claims estimated to total $1.5 million will have
a 100% recovery.

   * ARM Holdings Interests will be cancelled and discharged as of
the Effective Date and Holders of ARM Holdings Interests will not
receive any distribution on account of its Interest in ARM
Holdings.

   * On the Effective Date, immediately after giving effect to the
distributions set forth in Section 4.3 of the Plan, Reorganized ARM
Holdings shall convert into a Delaware corporation.

   * On the Effective Date, Reorganized ARM Holdings and ARMS shall
enter into the New Management Services Agreement pursuant to which
ARMS shall perform management, operational, administrative and
management services for the Reorganized Debtors. In exchange, as
consideration, ARMS shall earn up to 7% of the initial New ARM
Holdings Interests and the New ARM Holdings Warrants in accordance
with the terms of the New Management Services Agreement.

                          Plan Timetable

The Debtors propose this timetable relevant to the solicitation
procedures and plan confirmation:

                                               Proposed Schedule
                                               -----------------
Voting Record Date                                   1/31/2018
Distribution of Solicitation Package                 2/02/2018
Petition Date                                        2/06/2018
Distribution of the Combined Hearing                 2/09/2018
Distribution of Notice of Non-Voting Status          2/09/2018
Voting Deadline                                      3/01/2018
Service of Cure Notices and Rejection Notices        3/02/2018
Contract Objection Deadline                          3/09/2018
Objection Deadline                                   3/09/2018
Reply Deadline                                       3/13/2018
Combined Hearing                                     3/16/2018

                       Sale Still an Option

The Restructuring Support Agreement established a timeline for the
Debtors and the Supporting Creditors to pursue a marketing process
for the sale of all or substantially all of the Debtors' assets.
The Debtors, with the support of the Supporting Creditors, engaged
Tudor Pickering Holt & Co. to run a marketing process for the sale
of all of the Debtors' assets beginning in September 2017.  After
an extensive process, the Debtors received a number of bids for
some or all of the Debtors' assets.  However, after reviewing the
bids and further discussions with potential purchasers, the Debtors
and Supporting Creditors determined that a sale at this time is not
in the best interest of all stakeholders and agreed to pursue a
reorganization.

Although the marketing process has concluded and the Debtors do not
expect to pursue a sale, the Plan contemplates the option of
consummating a sale on or prior to the Effective Date.  The Debtors
may, with consent of the Supermajority Consenting First Lien Term
Lenders, consummate a sale on or prior to the Effective Date
pursuant to the Plan in which case proceeds of such sale will be
distributed in accordance with the Plan.

In the event the Debtors consummate a Sale on or prior to the
Effective Date in accordance with Section 6.2 of the Plan, the
treatment of Claims and Interests in the Debtors shall be as
follows:

   (a) The treatment of Other Priority Claims (Class 1), Other
Secured Claims (Class 2) and General Unsecured Claims (Class 4)
shall remain unchanged from the treatment as set forth in Section
4.3 of the Plan.

   (b) The Sale Proceeds shall be distributed as follows:

         (i) first, $125 million Pro Rata to the Holders of First
Lien Term Loan Claims;

        (ii) second, the Service Fee in accordance with the terms
of the Restructuring Support Agreement and

       (iii) third, with respect to the Remaining Sale Proceeds,
the First Lien Residual Sale Consideration Pro Rata to the Holders
of First Lien Term Loan Claims and the Second Lien Sale
Consideration Pro Rata to the Holders of Second Lien Term Loan
Claims.

   (c) All Interests in ARM Holdings, ARM and ARM Minerals
outstanding as of the Effective Date will be cancelled and shall be
of no further force and effect, whether surrendered for
cancellation or otherwise; provided, however, if the Sale is a sale
of the Debtors’ Interests, New ARM Holdings Interests, New ARM
Interests and New ARM Minerals Interests may be issued and sold.
Holders of ARM Holdings Interests (Class 5A), ARM Interests (Class
5B) and ARM Minerals Interests (Class 5C) will not receive any
distribution.

                         First Day Motions

A hearing on the Debtors' first day motions will be held on Feb. 8,
2018, at 10:00 a.m. (ET) before the Honorable Laurie S.
Silverstein, U.S. Bankruptcy Court for the District of Delaware,
824 North Market Street, 6th Floor, Courtroom 2, Wilmington,
Delaware, 19801.

                           *     *     *

First Lien and Second Lien Agent:

         Cortland Capital Market Services LLC
         225 West Washington Street, 21st Floor
         Chicago, Illinois 60606
         E-mail: cortland_successor_agent@cortlandglobal.com

The First Lien Agent's counsel:

         Damian S. Schaible
         Natasha Tsiouris
         Davis Polk & Wardwell LLP
         450 Lexington Avenue
         New York, New York 10017
         E-mail: damian.schaible@davispolk.com
                 natasha.tsiouris@davispolk.com
                 Ascent.DPW@davispolk.com

The Debtors' Parent:

         Robert W. Kelly II
         Ascent Resources, LLC
         3501 NW 63rd Street
         Oklahoma City, OK 73116
         E-mail: legalnotices@ascentresources.com

                 About Ascent Resources Marcellus

Oklahoma City-based Ascent Resources Marcellus Holdings, LLC and
its wholly owned subsidiaries, Ascent Resources - Marcellus, LLC
("ARM") and Ascent Resources Marcellus Minerals, LLC were formed to
acquire, explore for, develop, produce and operate natural gas and
oil properties in the Marcellus Shale.  The ARM Entities currently
own or have the right to develop 43,000 net acres in northern West
Virginia.

Ascent Resources Marcellus Holdings and 2 affiliated debtors each
filed a voluntary petition for relief under Chapter 11 of the
United States Bankruptcy Code (Bankr. D. Del. Lead Case No.
18-10265) on Feb. 6, 2017.

Ascent Resources, LLC, Ascent Resources Utica Holdings, LLC, Ascent
Resources - Utica, LLC and Ascent Resources Management Services,
LLC -- Ascent Entities -- are not included in the ARM Restructuring
and their operations remain unaffected by the ARM Restructuring.
The Ascent Entities are separate and distinct entities that have
their own capital structures, financing and operations.  The Ascent
Entities do not guarantee any of the ARM Entities debt.

The Debtors tapped SULLIVAN & CROMWELL LLP as general bankruptcy
counsel; YOUNG CONAWAY STARGATT & TAYLOR, LLP, as bankruptcy
co-counsel; D.R. PAYNE & ASSOCIATES, INC., as restructuring
advisor; PJT PARTNERS, as financial advisor; and PRIME CLERK LLC,
as claims agent.

                          *     *     *

On Feb. 6, 2018,  the Debtors filed their Plan of Reorganization
and the Disclosure Statement related thereto.  The Bankruptcy Court
will hold a hearing to consider approval of the Disclosure
Statement at a later date which has not yet been set.


ATD CAPITOL: Seeks April 9 Exclusive Plan Filing Period Extension
-----------------------------------------------------------------
ATD Capitol, LLC, filed with the U.S. Bankruptcy Court for the
Southern District of Florida a motion to extend:

   (a) its exclusive period to propose a Chapter 11 plan through
and including April 9, 2018;

   (b) the period to solicit acceptances of the plan through and
including June 8, 2018; and

   (c) the procedures order deadline to through and including April
9, 2018.

Based on the Petition Date, the Debtor's Exclusive Filing Period
was set to expire Feb. 6, 2018 and the Exclusive Solicitation
Period was set to expire April 7, 2018.

The Debtor relates that since the Petition Date, it has devoted a
significant amount of time to complying with the requirements of
operating as a debtor-in-possession during a Chapter 11 case.

The Debtor is a wholly owned subsidiary of Capitol Supply, Inc.,
who is also a debtor in a bankruptcy case pending before the Court
at In re Capitol Supply, Inc., Case No. 17-21544-EPK.  The Debtor
claims that its proposed reorganization will be impacted by the
outcome of the appeal of the Court's decision with respect to a
contested matter in Capitol Supply's bankruptcy case.

Specifically, Capitol Supply obtained an order from the Court
enforcing the stay against an action by the United States, one of
its largest unsecured creditors, and Louis Scutellaro pending
before the District Court for the District of Columbia ("DC Case").
After the United States appealed the Court's decision to the United
States District Court for the Southern District of Florida, Capitol
Supply submitted its appellate brief on Jan. 26, 2018, and the
United States' deadline to submit its reply brief is Feb. 9, 2018.

In addition, Capitol Supply and the United States have begun
settlement discussions with respect to the claims asserted in the
DC Case.

Accordingly, the Debtor requires additional time to permit Capitol
Supply to pursue such settlement discussions with the United States
prior to the Debtor formulating and proposing its plan of
reorganization and disclosure statement.

                        About ATD Capitol

ATD Capitol, LLC, was incorporated on Aug. 12 2015, and is in the
office and public building furniture business.  ATD is an affiliate
of Capitol Supply, Inc., which sought bankruptcy protection (Bankr.
S.D. Fla. Case No. 17-21544) on Sept. 20, 2017.

ATD Capitol, LLC, based in Boca Raton, FL, filed a Chapter 11
petition (Bankr. S.D. Fla. Case No. 17-22257) on Oct. 9, 2017.  In
the petition signed by Robert J. Steinman, president, the Debtor
estimated $100,000 to $500,000 in assets and $1 million to $10
million in liabilities.  The Hon. Paul G. Hyman, Jr. presides over
the case.  Bradley Shraiberg, Esq., at Shraiberg Landau & Page,
P.A., serves as bankruptcy counsel to the Debtor.  An official
committee of unsecured creditors has not yet been appointed in the
Chapter 11 case.


AUTO SUPPLY: Has Final OK on $10.5-Mil Financing, Cash Use
----------------------------------------------------------
Judge Lena Mansori James of the U.S. Bankruptcy Court for the
Middle District of North Carolina authorized Auto Supply Co., Inc.
to use cash collateral and incur post-petition debt on a final
basis.

The Debtor is authorized and have agreed to incur Post-petition
Debt solely: (1) in accordance with the terms and provisions of the
Order, (2) to the extent required to pay those expenses enumerated
in the Budget, including the Carveout, as and when such expenses
become due and payable, subject to the Variance Covenants, (3) to
the extent of Positive Borrowing Availability; and (4) to pay
Allowable 506(b) Amounts and the Post-petition Charges.

In furtherance of the approval of the Post-petition Agreement, the
Court has also approved the following material terms of the
Post-petition Debt:

      (a) The maximum principal amount of Aggregate Debt
outstanding at any time, inclusive of Allowable 506(b) Amounts and
Post-petition Charges, will not at any time exceed $10,500,000.  

      (b) The Post-petition Debt will bear interest at a per annum
rate equal to the default rate applicable to Advances under Section
1.3(b) of the Prepetition Credit Agreement.

      (c) The Debtor will pay to Wells Fargo Bank, N.A., in its
capacity as provider of post-petition credit ("Post-petition
Lender"), a closing fee in the amount of $160,000: $60,000 of which
will be fully earned, due and payable immediately upon the entry of
the Order and $100,000 of which will be fully earned on the date
hereof but not be due and payable until March 16, 2018. However, if
the Aggregate Debt has been permanently repaid to an amount equal
to or less than $1,000,000 as of March 16, 2018, such second
portion of the Closing Fee will be waived.

      (d) The Post-petition Debt will mature and be due and payable
in full by Debtor on the Termination Date.

      (e) Each Guaranty and all related security documents will
remain in full force and effect. Each Guarantor is and will remain
liable for the guaranteed obligations under each such Guaranty, and
is authorized and directed to reaffirm the Guaranty and related
security documents in form and substance acceptable to Lenders,
including confirmation of each Guarantor's obligations to guaranty
repayment of Aggregate Debt up to $1,200,000 and waiver by
Guarantor of any defenses and counterclaims relating to the
Guaranty. Partland, LLC is authorized and directed to reaffirm its
joint and several liability under the Prepetition Documents and
directed to execute a guaranty of the Post-petition Debt and
related security documents in form and substance acceptable to
Post-petition Lender.

      (f) Wells Fargo Bank will have the right to establish and
maintain such Reserves against Positive Borrowing Availability as
Wells Fargo Bank, in its sole discretion, deem appropriate,
including, without limitation, the Reserves in existence or
scheduled to come into existence as of the Filing Date.

      (g) All "Control Agreements" in effect as of the Filing Date
will remain in full force and effect notwithstanding the entry of
the Order and any subsequent orders amending the Order, and will be
deemed to be in effect and apply to the Post-petition Lender and
the Post-petition Debt as well as the Prepetition Lender and the
Prepetition Debt.

      (h) All subordination agreements or other agreements
governing the relative rights or priorities of Prepetition Lender
with other creditors of Debtor, Partland, LLC, or the Guarantors
that were in effect as of the Filing Date will remain in full force
and such agreements will be deemed amended to provide Post-petition
Lender and the Post-petition Debt the same rights, priorities, and
obligations as applicable to Prepetition Lender and the Prepetition
Debt.

The Post-petition Debt is granted superpriority administrative
expense status under Code Section 364(c)(1).

The Debtor acknowledges that the Prepetition Documents evidence and
govern the Prepetition Debt, the Prepetition Liens and the
prepetition financing relationship among Debtor, Debtor's
affiliate, Partland, LLC ("Partland"), the Guarantors, and Wells
Fargo Bank, N.A. As of the Filing Date, the Debtor is liable for
payment of the Prepetition Debt, and the Prepetition Debt will be
an allowed secured claim in an amount not less than $10,048,896,
exclusive of accrued and accruing Allowable 506(b) Amounts.

Wells Fargo Bank is granted with replacement liens as security for
payment of the Prepetition Debt. The replacement liens: (1) are and
will be in addition to the Prepetition Liens; (2) are and will be
properly perfected, valid and enforceable liens without any further
action by Debtor or Wells Fargo Bank and without the execution,
filing or recordation of any financing statements, security
agreements, mortgages or other documents or instruments; and (3)
will remain in full force and effect.

A full-text text copy of the Order is available at:

             http://bankrupt.com/misc/ncmb18-50018-145.pdf

                       About Auto Supply Co.

Founded in 1954, Auto Supply Co., Inc. -- http://www.ascodc.com/--
is a family-owned supplier of OEM and aftermarket automotive parts,
serving the automotive repair professional from three distribution
centers, 15 store locations and seven battery trucks throughout
North Carolina and Western Virginia.  The Company is based in
Winston Salem, North Carolina.

About Auto Supply Co. sought Chapter 11 protection (Bankr. M.D.N.C.
Case No. 18-50018) on Jan. 8, 2018.  In the petition signed by
President Charles A. Key, Jr., the Debtor disclosed total assets of
$13.17 million and total debt of $22.04 million.  

The case is assigned to Judge Lena M. James.  

The Debtor tapped Ashley S. Rusher, Esq., at Blanco Tackabery &
Matamoros, P.A., as counsel.

The Office of the U.S. Trustee on Jan. 22, 2018, appointed six
creditors to serve on the official committee of unsecured creditors
in the Chapter 11 case.  The committee members are: (1)
Federal-Mogul Motorparts; (2) Standard Motor Products; (3) Global
Parts Distributors, LLC; (4) The Timken Corporation; (5) US Pack
Logistics; and (6) Cardone Industries, Inc.


BALL CORP: Fitch Affirms BB+ Issuer Default Rating, Outlook Stable
------------------------------------------------------------------
Fitch Ratings has affirmed all outstanding debt ratings of Ball
Corporation, including the Long-term Issuer Default Rating (IDR) at
'BB+'. The Rating Outlook is Stable.  

The ratings and Outlook reflect Ball's leading market positions in
the majority of its product segments and geographies, successful
integration of the Rexam PLC acquisition since June 30, 2016 as
well as steady progress on its commitment to return net leverage
within a range of 3.0x-3.5x (exclusive of factoring obligations) by
2019.

KEY RATING DRIVERS

Leading Global Position: Ball is the industry leader in the
beverage can packaging industry with about 30% global market share,
inclusive of 42% market share in North & Central America, 56% in
South America and 40% in Europe. The beverage can segment accounts
for close to 80% of Ball's revenues with a portfolio mix of about
35% specialty / 65% standard, which compares favourably to the
industry-wide mix of 20% specialty / 80% standard. Conversion to
specialty sized cans, as opposed to the standard 12-ounce can,
provides higher margins and improves customer stickiness. The wide
geographic diversity of Ball's revenue base helps smooth the
effects of economic or political disturbances in any specific
region.

Material Deleveraging Underway: Management's commitment to
deleveraging back to a net target of 3.0x-3.5x by 2019 (excluding
factoring obligations) is a key rating consideration. Ball has a
strong track record for deleveraging following large acquisitions
and Fitch expects that Ball will generate sufficient FCF to reach
its target. Net debt is expected at $6.5 billion at year-end 2017,
from about $7.1 billion at the close of the Rexam acquisition. The
'BB+' IDR reflects Fitch's expectation that Ball's leverage
(defined by Fitch as gross debt inclusive of factored receivables /
EBITDA) will be slightly below 4.0x by the end of 2018.

Smooth Integration of Rexam: The integration of the Rexam assets is
progressing efficiently, with management still confident of
reaching $300 million in synergies by 2019 driven by reduced
administrative expenses, plant footprint optimization, as well as
improved sourcing and logistics. Fitch shares Ball's confidence in
synergy benefits and other footprint optimization initiatives and
forecasts close to $2 billion in EBITDA generation for 2019, which
aligns with management's expectations.

Favorable Industry Dynamics: Ball derives the majority of its
revenues from beverage cans, which Fitch views as the most
attractive substrate within the packaging industry. Fitch expects
demand for beverage cans to continue growing by low-single digits
annually, given continued substitution to metal from glass and
plastic for beverage packaging globally. Growth in specialty cans
and emerging markets further support Fitch's expectations of
sustainable modest volume growth.

Solid Aerospace and Aerosol Businesses: While relatively smaller,
the aerospace and aerosol businesses add positive diversification
to Ball's business mix. Fitch expects that solid performance in the
aerospace segment, which represents nearly 10% of Ball's revenues,
will continue over the medium term supported by a growing backlog
of contracts. Product innovation, economies of scale and geographic
reach should support solid growth in the aerosol business. Fitch
expects the food can business to be a modest contributor to EBITDA
generation over the medium-term, as secular trends in the food
industry and overcapacity pressure both volumes and prices.

Increased Use of Receivables Factoring: Fitch expects Ball to
continue using of factoring receivables to manage its working
capital needs. Fitch views the practice of receivables factoring as
a form of debt, notwithstanding the accounting treatment. Factoring
receivables creates a gap between Ball's financial policy
commitment of net leverage of 3.0x-3.5x to Fitch-calculated
financial leverage (gross debt with equity credit / EBITDA). Ball's
financial policy translates to about 3.5x-4.0x on a Fitch's
calculated basis (inclusive of a small adjustment for cash
balances). This is consistent with Fitch's expectations for a 'BB+'
rated issuer with a strong business profile, but material expansion
of the factoring program could cause credit pressure.

Recovery Ratings: Per Fitch's criteria, the ratings assigned to an
issuer's debt instruments assume average recoveries by type of
instruments in the event of bankruptcy for corporate entities rated
in the 'BB' category. Fitch believes the stock pledge and
guarantees indicate a superior recovery prospect for the secured
credit facilities and assigns a 'RR1' Recovery Rating to these
facilities. The senior unsecured instruments are assigned 'RR4'
Recovery Ratings, corresponding to 31%-50% recovery range.

DERIVATION SUMMARY

Ball's higher IDR of 'BB+' compared with packaging peers Berry
Global, Inc. (IDCO of 'b+*'), Crown Holdings, Inc. (IDCO of 'bb*')
and Reynolds Group Holdings Ltd (IDCO of 'b*') reflects both its
stronger business profile and a more conservative financial policy.
Ball is the world's largest beverage can manufacturer with about
30% market share and about 80% of its revenues come from the
beverage can industry. Beverage cans are one of the most attractive
segments within the packaging industry, in Fitch's view, given the
low-single digits volume growth in the product category, product
mix shift towards higher-value specialty cans, and prevalent use of
commodity price pass-thru clauses in contracts.

In light of the acquisitive business strategy employed by many
industry participants, Fitch puts significant weight on
managements' stated financial policy and track record of delivering
on their deleveraging commitments in assessing financial profiles
in the packaging sector. Ball's targeted net leverage of 3.0x-3.5x
is at the lower-end of the range for its peer group. Crown
similarly targets 3.0x-3.5x while Berry aims for 4.0x and Reynold
for 4.5x.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Fitch Rating Case for the Issuer

-- EBITDA gradually increasing to close to $2.0 billion in 2019;

-- Net debt of about $6.2 billion in 2018-2019;

-- Capital spending averaging $600 million annually through 2019;

-- Leverage (gross debt inclusive of factoring adjustment /
    EBITDA) decreasing to the upper 3x range during 2018;

-- Growing share repurchases to manage net leverage within
    management's target of 3.0x to 3.5x.

RATING SENSITIVITIES

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

-- Leverage (gross debt / EBITDA) sustained in the low 3.0x
    range, inclusive of debt factoring receivables;
-- EBITDA margin expansion sustained in the upper-teens range;
-- FCF margin sustained in the mid-single-digit range.

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

-- Leverage remaining above 4.0x beyond 2018, due to weak
    operating performance and/or adoption of more aggressive
    shareholder rewards;
-- Significant revenue decline and/or pressure on EBITDA causing
    a material drop in profitability and lower single digit FCF
    margin generation.

LIQUIDITY

Satisfactory Liquidity: Ball's liquidity position is supported by
balance sheet cash, ample availability under its credit agreement,
significant free cash flow generation, as well as a moderate
dividend policy and mandatory debt repayment schedule. At Sept. 30,
2017, Ball's had $556 million of cash on hand as well as
approximately $1.2 billion available under its $1.5 billion
multi-currency revolving credit facility (maturity in March 2021).
In addition to its revolving credit facility, Ball maintains
availability from several regional committed and uncommitted
accounts receivable factoring programs. The company also has
uncommitted, unsecured credit facilities, which Fitch views as a
weaker form of liquidity. Ball had approximately $936 million of
uncommitted lines available, of which $374 million was outstanding
and due on demand at the end of the third quarter 2017.

Debt maturities in 2018 and 2019 are modest, at $105 million and
$210 million respectively. Fitch expects Ball to proactively
refinance its $1.5 billion (USD 1 billion and EUR 400 million) of
notes due in December 2020 as these maturities near.

Covenants and Guarantees: Ball's current credit agreement requires
the company to maintain net leverage (excluding factored
receivables) below 4.0x effective Dec. 31, 2017. The senior notes
and senior credit facilities are guaranteed on a full,
unconditional and joint and several basis by certain of Ball's
wholly owned domestic subsidiaries with certain foreign denominated
senior credit facilities tranches similarly guaranteed by certain
Ball wholly owned foreign subsidiaries.

All obligations under the guarantees of the senior credit
facilities are secured by a first priority perfected secured pledge
on 100% of the capital stock of Ball's material wholly owned
domestic subsidiaries and 65% of the capital stock of Ball's
material wholly owned first-tier foreign subsidiaries. In addition,
the obligations of the Euro term loan A are secured by a first
priority perfected secured pledge on 100% of the capital stock of
Ball's material wholly owned foreign subsidiaries and material
wholly-owned U.S. domiciled foreign subsidiaries or any of its
wholly-owned material domestic subsidiaries.

FULL LIST OF RATING ACTIONS

Fitch has affirmed the following ratings:

Ball Corporation
-- Long-Term IDR at 'BB+';
-- Senior secured revolving credit facility and term loans at
    'BBB-'/'RR1';
-- Senior unsecured debt at 'BB+'/'RR4'.

The Rating Outlook is Stable.



BEAR METAL WELDING: Court Signs 5th Interim Cash Collateral Order
-----------------------------------------------------------------
The Hon. Deborah L. Thorne of the U.S. Bankruptcy Court for the
Northern District of Illinois granted Bear Metal Welding &
Fabrication, Inc. interim authority to continue using cash
collateral through the earlier of March 30, 2018, or the so-called
Termination Date, subject to and solely in accordance with the
express terms and conditions of the Fifth Interim Cash Collateral
Order.

The hearing to consider entry of a final order or a further interim
order on the Cash Collateral Motion will take place on March 27,
2018 at 10:00 a.m.

The Debtor may use the cash collateral only in accordance with the
Budget. The approved Budget provides total expenses of
approximately $ 15,667 for the month of February 2018 and $ 17,167
for the month of March 2018.

The Debtor stipulated and represented to the Court that QCB
Properties, LLC, the U.S. Department of Treasury-Internal Revenue
Service, the Illinois Department of Revenue, and the Illinois
Department of Employment Security had perfected liens upon the
Debtor's property as of the Petition Date pursuant to the
mortgages, and statutory tax or revenue liens. The Debtor further
stipulated that the Prepetition Liens have attached to all or
substantially all of its real property and personal property.

The Secured Parties will receive (i) a replacement lien in the
Prepetition Collateral and in the post-petition property of the
Debtor of the same nature and to the same extent and in the same
priority as each Secured Party had in the Prepetition Collateral,
and to the extent such liens and security interests extend to
property pursuant to Section 552(b) of the Bankruptcy Code, and
(ii) an additional continuing valid, binding, enforceable,
non-avoidable, and automatically perfected postpetition security
interest in and lien on all cash or cash equivalents, whether now
owned or in existence on the Petition Date or thereafter acquired
or existing and wherever located, of the Debtor.

The Debtor will maintain in full force and effect and pay any
premiums that become due during the term of the Fourth Interim
Order for property and casualty insurance on all of its assets.

A full-text copy of the Fifth Interim Order is available at:

        http://bankrupt.com/misc/ilnb17-24246-58.pdf

             About Bear Metal Welding & Fabrication

Headquartered in Lombard, Illinois, Bear Metal Welding &
Fabrication, Inc., provides fabrication and repair of metals to
commercial and consumer markets.  Bear Metal's principal asset is
the improved real estate from which it operates at 948 North Ridge
Avenue, Lombard, Illinois, with the property valued at $450,000.

Dean Mormino has been Bear Metal's principal officer at all times
since the Company began business operations in 1997. Mr. Mormino
has been the sole shareholder, director and the president since
2012 when his marriage to Melisa Mormino was dissolved.  Prior to
the dissolution of their marriage, Melisa Mormino was a shareholder
of Bear Metal.

Bear Metal filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Ill. Case No. 17-24246) on Aug. 14, 2017, estimating up to $50,000
in assets and between $500,001 and $1 million in liabilities.  The
petition was signed by Mr. Mormino.

Abraham Brustein, Esq., at Dimonte & Lizak, LLC, serves as the
Debtor's bankruptcy counsel.  Lehman & Associates CPA, Ltd., is the
Debtor's accountant.


BEAULIEU GROUP: Has Final Approval to Access Cash Collateral
------------------------------------------------------------
Judge Mary Grace Diehl of the U.S. Bankruptcy Court for the
Northern District of Georgia has signed a final order authorizing
and directing Beaulieu Group, LLC, and its affiliates to:

      (a) Maintain the escrow in the amount of $1,000,000
established pursuant to the Interim Order to be used to satisfy any
additional amount of the CT Lender Claim that might ultimately be
allowed by the Court, with any excess to be promptly returned to
the Debtors' estates; and

      (b) Increase the escrow in the amount of $4,000,000
established pursuant to the Interim Order by $1,000,000 for a total
of $5,000,000, to be used to satisfy any additional amount of the
Cygnets Claim that might ultimately be allowed by the Court, with
any excess to be promptly returned to the Debtors' estates.

The Debtors are further authorized to use their remaining cash,
including any cash that might constitute cash collateral of
Cygnets, CT Lender or any other entity, to pay ordinary
post-petition expenses of the Debtors (including, but not limited
to, health care costs, accounts payable, workers compensation
claims and professional fees) as they come due, or such other
obligations as are authorized by the Court.

A full-text copy of the Final Order is available at:

           http://bankrupt.com/misc/ganb17-41677-536.pdf

                      About Beaulieu Group

Founded in 1978 by Carl M. Bouckaert and Mieke D. Hanssens,
Beaulieu Group LLC -- http://www.beaulieuflooring.com/-- is a
privately owned American company that manufactures and distributes
high-end quality products in carpet, engineered hardwood, laminate
and luxury vinyl.  Beaulieu Group has 2,500 full- and part-time
hourly and salaried employees.

Beaulieu Group, LLC, along with the two other affiliates, filed
voluntary petitions seeking relief under the provisions of Chapter
11 of the United States Bankruptcy Code (Bankr. N.D. Ga. Lead Case
No. 17-41677) on July 16, 2017.  The cases are pending before the
Honorable Judge Mary Grace Diehl.  The cases are jointly
administered.

Scroggins & Williamson, P.C., is the Debtors' bankruptcy counsel.
McGuireWoods is the special corporate counsel and Armory Strategic
Partners is the restructuring advisor.  American Legal Claim
Services, LLC, is the claims and noticing agent.

No trustee or examiner has been appointed in this case.  No request
has been made for the appointment of a trustee or examiner.  

An Official Committee of Unsecured Creditors was appointed on July
21, 2017.  The Committee retained Thompson Hine LLP as counsel; Fox
Rothschild LLP as co-counsel; and Phoenix Management Services LLC
as financial advisor.


BLACK IRON: Sooner Machinery Buying Equipment for $3.1 Million
--------------------------------------------------------------
Black Iron, LLC, asks the U.S. Bankruptcy Court for the District of
Utah to authorize the sale of equipment which includes primarily a
rotary dryer for $3 million; a Trio sand screw (i.e., fine material
washer) or $15,000, and various ELBO pieces for $50,000, to Sooner
Machinery & Equipment Buyers, subject to higher and better offers.

The Debtor owns the Iron Mountain Mine (sometimes referred to as
the Comstock Mine).

In January 2016, the Debtor had an appraisal done by AM King of its
equipment assets ("Personal Property Assets").  That appraisal, for
example, valued the rotary dryer at $100,000 (orderly sales value)
and $35,000 (dealer price for inventory), which piece of equipment
was originally purchased by CML Metals, the prior mine owner, at
$676,919.  The allocated purchase price for the rotary dryer under
the Agreement is $3 million.

AM King estimated a needed market exposure time for the Personal
Property Assets of about six to twelve months.  From early 2016
through November 2016, AM King was marketing the Personal Property
Assets for sale, with particular emphasis on certain pieces,
including the rotary dryer, and trying to find potential buyers.
In November 2016, AM King reported to the Debtor by letter that it
had not been successful in finding interested buyers but would
continue to market the Personal Property Assets and identify
potential customers.

The current offer for which approval is sought by the Debtor in the
Motion represents the highest and best offer received to date.  No
comparable or back up offers have been received.

The Equipment proposed to be sold is non-essential property that
will not be needed or used when the Debtor resumes mining
operations.  It is not subject to any liens or encumbrances of
which the Debtor is aware.  The Debtor's counsel undertook a UCC
search with the Utah Department of Corporations on Jan. 31, 2018,
and confirmed there are no current UCC filings against the Debtor.

At this time, because of pending litigation and related issues
identified in the First Day Declaration, the Debtor is not
operating the mine.  The Debtor has looked for and successfully
landed alternate sources of revenue while the mine is inoperable,
including an arrangement to lease water.  The Debtor has determined
that sale of the Equipment will maximize value and provide the
Debtor an additional source of revenue while it continues its
restructuring efforts.

The Debtor has agreed to sell, and the Buyer has agreed to
purchase, subject to Court approval, the Equipment listed in the
Agreement, for a cash purchase price of $3,065,000.  The sale of
the Equipment includes no warranties and is "as is," and free and
clear of any and all liens, claims, interests, and encumbrances.

The Buyer is an independent third-party that buys and sells
equipment nationwide.  The Debtor understands the Buyer is also
entering into a contemporaneous but separation transaction with an
entity called Crusher Rental & Sales ("CRS") to purchase some
additional equipment from CRS.  CRS is owned by Gilbert Development
Corp., the principal and owner of which is Steve Gilbert, the
managing member of the Debtor.  CRS has experience and expertise in
deinstalling and transporting equipment.

Under the terms of the Agreement, the Debtor will give 10% of the
Gross Purchase Price ($306,500) to CRS for the disassembly,
removal, and transport of the equipment.  CRS has the necessary
equipment, including a crane, to transport the Equipment.  The
Debtor will, therefore, net from the sale approximately $2,758,500.
The 10% arrangement was agreed to and negotiated between Mr. Lange
Fay, the president of CRS, and Steve Gilbert, principal of the
Debtor, to facilitate the sale of the Equipment.

A copy of the Contract and the list of Equipment to be sold
attached to the Motion is available for free at:

    http://bankrupt.com/misc/Black_Iron_132_Sales.pdf

The Purchaser:

          SOONER MACHINERY &
          EQUIPMENT BUYERS
          1215 South Detroit
          Tulsa, OK 74105

                        About Black Iron

Black Iron, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Utah Case No. 17-24816) on June 1, 2017.
In the petition signed by Steve L. Gilbert, its manager, the
Debtor estimated its assets and debts at $1 million to $10
million.

Judge William T. Thurman presides over the case.

The Debtor hired Adelaide Maudsley, Esq., and Ralph R. Mabey, Esq.,
at Kirton McConkie P.C. as bankruptcy counsel.  The Debtor tapped
Gary Thorup, Esq., at Durham Jones to serve as its special
litigation counsel; WSRP, LLC, as its accountant; and Alysen
Tarrant as its environmental consultant.


BON-TON STORES: Moody's Lowers PDR to D-PD Amid Bankr. Filing
-------------------------------------------------------------
Moody's Investors Service downgraded The Bon-Ton Stores Inc.,'s
Probability of Default Rating ("PDR") to D-PD from Ca-PD/LD. The
downgrade was prompted by Bon-Ton's February 4, 2018 announcement
that it had initiated Chapter 11 bankruptcy proceedings. The
ratings outlook is stable.

Downgrades:

Issuer: Bon-Ton Stores Inc., (The)

-- Probability of Default Rating, Downgraded to D-PD from
Ca-PD/LD

Outlook Actions:

Issuer: Bon-Ton Stores Inc., (The)

-- Outlook, Changed To Stable From Negative

Affirmations:

Issuer: Bon-Ton Stores Inc., (The)

-- Speculative Grade Liquidity Rating, Affirmed SGL-4

-- Corporate Family Rating, Affirmed Ca

-- Senior Secured Regular Bond/Debenture, Affirmed C(LGD5)

RATINGS RATIONALE

Subsequent to actions, Moody's will withdraw the ratings due to
Bon-Ton's bankruptcy filing.

The Bon-Ton Stores Inc., with corporate headquarters in York,
Pennsylvania and Milwaukee, Wisconsin, operates 256 stores, which
includes nine furniture galleries and four clearance centers, in 23
states in the Northeast, Midwest and upper Great Plains under the
Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman,
Herberger's and Younkers nameplates. Revenues are approximately
$2.5 billion.

The principal methodology used in these ratings was Retail Industry
published in October 2015.


CENVEO INC: Bankruptcy Filing Triggers Nasdaq Delisting Notice
--------------------------------------------------------------
Cenveo, Inc. received a letter from the Listing Qualifications
Department of The NASDAQ Stock Market LLC on Feb. 2, 2018,
notifying the Company that as a result of the Chapter 11 cases, and
in accordance with NASDAQ Listing Rules 5101, 5110(b) and
IM-5101-1, NASDAQ has determined that the Company's Common Stock,
par value $0.01 per share, will be delisted from NASDAQ.
Accordingly, unless the Company requests an appeal of this
determination, trading of the Common Stock will be suspended at the
opening of business on Feb. 13, 2018, and a Form 25-NSE will be
filed with the Securities and Exchange Commission, which will
remove the Common Stock from listing and registration on NASDAQ.

The Company is contemplating its decision to appeal NASDAQ's
determination.  If the Company does not appeal the staff's
determination, the Company expects that its units will be eligible
to be quoted on the OTC Pink operated by the OTC Markets Group Inc.
To be quoted on the OTC Pink, a market maker must sponsor the
security and comply with SEC Rule 15c2-11 before it can initiate a
quote in a specific security.  The OTC Pink is a significantly more
limited market than NASDAQ, and the quotation of the Common Stock
on the OTC Pink may result in a less liquid market available for
existing and potential stockholders and could further depress the
trading price of the Common Stock.  There can be no assurance that
any public market for the Common Stock will exist in the future or
that the Company or its successor will be able to relist the Common
Stock on a national securities exchange.

                         About Cenveo

Cenveo, Inc. -- http://www.cenveo.com-- is a diversified
manufacturing company focused on print-related products.  Founded
in 1919, Cenveo's portfolio of products includes printed labels,
print magazine and book solutions, mailing solutions and creative
services, and inventory and warehouse management software.  Cenveo
serves its global customer base from its corporate headquarters in
Stamford, Connecticut, its production facilities in approximately
20 states, and its content business in India.

Cenveo and 35 of its affiliates filed voluntary petitions under
Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for
the Southern District of New York (Bankr. S.D.N.Y. Lead Case No.
18-22178) on Feb. 2, 2018.  

In the petitions signed by Ian R. Scheinmann, general counsel and
secretary, the Debtors listed total assets of $789.5 million and
total debt of $1.426 billion as of Dec. 31, 2017.

The Debtors tapped Kirkland & Ellis LLP/Kirkland & Ellis
International LLP as counsel; Rothschild, Inc., as investment
banker; Zolfo Cooper LLC as restructuring advisors; and Prime Clerk
LLC as notice, claims & balloting agent and administrative advisor.


CES ENERGY: DBRS Confirms B Issuer Rating, Trend Changed to Pos.
----------------------------------------------------------------
DBRS Limited confirmed in December 2017 the Issuer Rating and the
Senior Unsecured Notes (the Notes) rating of CES Energy Solutions
Corp. (CES or the Company) at B and changed the trends to Positive
from Stable. The recovery rating for the Notes remains unchanged at
RR4. The rating confirmation is underpinned by the Company's strong
market position in Canada and its growing market position in the
United States, especially in the Permian Basin; growth of the
Company's production and specialty chemical (PSC) segment in both
the United States and Canada; and a rebound in industry activity
levels. The positive outlook acknowledges the improvement in the
Company's key credit metrics and reflects DBRS's view that, based
on the assumption of a modest increase in oil prices, the Company's
key credit metrics should continue to improve in 2018.

In 2017, driven by higher oil prices, the Company has seen a
material improvement in activity levels, especially at its drilling
and completion fluids (DF) business. The Company has also benefited
from a full-year contribution of the PSC assets of Catalyst
Oilfield Services, LLC (Catalyst) that was acquired in August 2016.
Organic growth, coupled with the Catalyst acquisition, has allowed
the Company to increase its market share across all business
segments through the downturn. The Company has a sizeable and
growing footprint in the Permian Basin, which has seen an increase
in production through the downturn and continues to drive activity,
accounting for 50% of active drilling rigs in the United States.
Although the pricing environment for the Company's product and
services continues to remain relatively weak, the increase in sales
volumes, along with a rationalized cost structure, has resulted in
a significant improvement in earnings. EBITDA for the nine months
ended September 30, 2017, increased by 403% compared to the
corresponding previous period. As a result, the Company's
lease-adjusted debt-to-cash flow and lease-adjusted EBIT interest
coverage ratios for the last twelve months (LTM) ended September
30, 2017, reversed to the B rating range after being outside the
range at the time of the last rating confirmation.

CES's liquidity profile continues to be adequate, with $74 million
available under its $165 million revolving credit facility (the
Credit Facility) at September 30, 3017. The Credit Facility has
been primarily utilized to fund a buildup in working capital as a
result of higher activity levels in the current year. In October
2017, the Company refinanced its existing Notes maturing in 2020
with new Notes maturing in 2024. The refinancing has improved the
Company's debt maturity profile and also reduced CES's interest
expense since the interest rate on the new Notes is lower. CES
continues to benefit from a low-maintenance capital expenditure
(capex) requirement. CES's growth capex program is flexible and can
be scaled up or down depending on the prevailing operating
environment.

CES's financial performance is correlated to drilling activity,
which in turn is driven by oil and gas (O&G) prices. However, DBRS
notes that the Company's improved market position, stronger
presence in the Permian Basin and rationalized cost structure has
enabled the Company to better withstand a lower O&G price
environment. DBRS will likely consider a rating upgrade over the
next 12 months if the improvement in key credit metrics is
sustained and industry activity levels continue to remain
supportive. Conversely, if the Company's key credit metrics
deteriorate materially due to a significant decline in drilling
activity as a result of lower O&G prices, DBRS may consider a
negative rating action.

Notes:
All figures are in Canadian dollars unless otherwise noted.


CHARLOTTE RUSSE: S&P Cuts CCR to 'SD' & 1st Lien Debt Rating to 'D'
-------------------------------------------------------------------
U.S. specialty retailer Charlotte Russe Inc. announced that it has
closed its previously announced restructuring support transaction
with 100% of its term loan debt holders to reduce the outstanding
term loan debt to approximately $90 million from $214 million, and
give supporting term lenders 100% of the equity in Charlotte Russe,
subject to some dilution from the newly formed management equity
incentive plan.

S&P Global Ratings lowered the rating on California-based apparel
retailer Charlotte Russe Inc. to 'SD' from 'CC'.

S&P said, "At the same time, we also lowered the issue-level rating
on the first-lien term loan to 'D' from 'CC'. Our '4' recovery
rating on the term loan remains unchanged and reflects our
expectation for average (30% to 50%; rounded estimate: 30%)
recovery in the event of default."

The downgrade follows the company's completed restructuring
transaction of its first-lien term loan. Pursuant to the agreement,
the outstanding $214 million term loan was exchanged for a new $90
million term loan, and the maturity date was extended to February
2023. In exchange, the term loan lenders received 100% of the
equity of Charlotte Russe, subject to some dilution from the newly
formed management equity incentive plan. The restructuring was
subject to the company meeting several conditions set forth in a
restructuring support agreement. Most notably, the company was
required to obtain a threshold amount of annualized operational
savings, and the commitment of 100% of the term lenders to
participate in the out-of-court restructuring.


CM EBAR: Feb. 6 Plan Confirmation Hearing Set
---------------------------------------------
The U.S. Bankruptcy Court for the District of Nevada conditionally
approved the disclosure statement explaining CM Ebar, LLC's plan of
reorganization and will hold a hearing on Feb. 6, 2018, at 9:30
A.M., to consider approval of the Disclosure Statement on a final
basis and confirmation of the Plan.

The Court's conditional approval of the Disclosure Statement was
based on the representations of counsel on the record during the
hearing that in addition to the terms of the settlement set forth
in the Disclosure Statement and the Plan between SBR, LLC, the
Debtor and the Official Unsecured Creditors Committee, SBR agreed
to increase the carve-out, as set forth in the Debtor's cash
collateral stipulation and order, for the fees and costs of OUCC's
professionals from $50,000 to $75,000.

The Debtor's exclusivity period to file a plan and seek acceptances
is terminated.

Class 5 under the plan consists of the allowed general unsecured
claims. The Debtor estimates that the amount of the general
unsecured claims totals approximately $5,600,000. The Debtor
proposes to pay Allowed General Unsecured Claims in Class 5 from
the proceeds of the sale of the Debtor's Restaurant Assets, after
payment of Allowed claims in Classes 1 through 4, and all
administrative and priority claims. It is likely that there will
not be any sale proceeds to be distributed to Allowed General
Unsecured Claims. The Debtor does not anticipate there will be any
distributions to unsecured creditors.

A full-text copy of the Disclosure Statement is available at:

     http://bankrupt.com/misc/nvb17-15530-124.pdf

                      About CM Ebar LLC

CM Ebar, LLC, is a casual-dining operator with various locations in
Nevada, California, and New Mexico.  Its principal place of
business is located at 2270 Village Walk Drive, in Henderson,
Nevada.  It is the owner of 7 operating restaurants that go by the
trade name of Elephant Bar Restaurant, operating in Nevada, New
Mexico, and California.

CM Ebar, LLC, sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Nev. Case No. 17-15530) on Oct. 17, 2017.  In the
petition signed by manager Barry L. Kasoff, the Debtor estimated
assets of $1 million to $10 million and estimated liabilities of
$10 million to $50 million.

Judge August B. Landis presides over the case.

Zachariah Larson, Esq., Matthew C. Zirzow, Esq., and Shara L.
Larson, Esq., at Larson & Zirzow, LLC, serve as the Debtor's
bankruptcy counsel.

On Nov. 7, 2017, the Office of the United States Trustee appointed
an Official Committee of Unsecured Creditors in the Debtor's case.
Clark Hill represents the Committee.

                          *     *     *

On Nov. 20, 2017, the Debtor filed its proposed Disclosure
Statement and Plan of Reorganization.


CORONADO GROUP: Moody's Puts B3 CFR on Review for Upgrade
---------------------------------------------------------
Moody's Investors Service has placed Coronado Group LLC B3
corporate family rating (CFR), B3-PD probability of default rating
(PDR) and B3 (LGD4) senior secured bank credit facility on review
for upgrade following the announcement that the Australian
conglomerate Wesfarmers Limited (A3 stable) will sell its Curragh
coal mine to Coronado for AUD700 million (US$539 million).

The following rating actions were taken:

On Review for Upgrade:

Issuer: Coronado Group LLC

-- Corporate Family Rating, Placed on Review for Upgrade,
    currently B3

-- Probability of Default Rating, Placed on Review for Upgrade,
    currently B3-PD

-- Senior Secured Bank Credit Facility, Placed on Review for
Upgrade, currently B3 (LGD4)

Outlook Actions:

Issuer: Coronado Group LLC

-- Outlook, Changed To Rating Under Review From Stable

RATINGS RATIONALE

The review for upgrade results from Moody's expectation that the
transaction, if consummated, will improve the operational diversity
of the company as Coronado will extend its production base to
Australia while maintaining its credit metrics at conservative
levels. Curragh is one of the world's largest metallurgical coal
mines, with production of 8.5 million tonnes per annum (mtpa) of
export metallurgical coal and 3.5 mtpa of thermal coal which is
sold to the Queensland Government's Stanwell Corporation. The
transaction would more than double Coronado's annual production
volumes, improve customer concentration, reduce average costs, and
better position the company to serve the growing Asian markets
along with its current customer base in the US and Europe.

The transaction is still subject to approval from Australia's
Foreign Investment Review Board.

The extent of upward movement in the ratings, if any, will depend
on Moody's review of the proposed transaction, including expected
performance of the combined company, any projected synergies, as
well as capital structure post closing.

The principal methodology used in these ratings was Global Mining
Industry published in August 2014.

Headquartered in Beckley, West Virginia, Coronado Group LLC
(Coronado) operates seven active mines within three main mining
complexes, which consist of one longwall mine and two continuous
mines in the Central Appalachian region. The company produces and
exports metallurgical ("met") coal for a customer base of blast
furnace steel producers. For the twelve months ended September 30,
2017, the company generated $772 million in revenues.


CORONADO GROUP: S&P Puts 'B-' CCR on Watch Dev. Amid Curragh Deal
-----------------------------------------------------------------
S&P Global Ratings placed its ratings on U.S.-based coal producer
Coronado Group LLC, including its 'B-' corporate credit rating, on
CreditWatch with developing implications.

The CreditWatch placement follows Coronado Group signing an
agreement to acquire the Curragh coal mine in Queensland,
Australia, from Wesfarmers Ltd. for $475 million (A$700 million).
The Curragh mine supports baseline production of 8.5 million tonnes
per annum (mtpa) of export metallurgical coal and 3.5 mtpa of steam
coal, which is sold to the Queensland Government's Stanwell
Corporation.

S&P said, "We expect to resolve the CreditWatch within 90 days,
after we assess the impact of this transaction on Coronado Group's
credit quality. This will include reviewing Coronado's competitive
position, the impact of the acquisition on the company's operating
scale, overall mine diversity, and profitability. We will also
consider financial factors, such as pro forma credit measures and
any changes to the capital structure. The placement indicates that
we could affirm, lower or raise the ratings after we review the
transaction.

"We could raise our corporate credit rating on the company if we
expect Coronado will meaningfully increase its production and
EBITDA while maintaining margins above 25%.

"We could affirm the corporate credit rating on Coronado if the
transaction does not successfully close, or if we anticipate the
company's profitability measures will deteriorate or if we expect
the volatility of cash flows to increase substantially.

"We could lower the corporate credit rating on Coronado if, as a
result of the acquisition, we view the company to be vulnerable and
dependent upon favorable business, financial, and economic
conditions to meet its financial commitments. This could happen if
we expect a decline in met coal prices, and the company assumes
sizable long term liabilities, such that we believe interest
coverage will approach 1x."


CREW ENERGY: DBRS Confirms B Issuer Rating, Trend Stable
--------------------------------------------------------
DBRS Limited confirmed the Issuer Rating and Senior Unsecured Notes
(the Notes) rating of Crew Energy Inc. (Crew or the Company) at B
and with Stable trends. The recovery rating for the Notes remains
unchanged at RR4. The rating is underpinned by the Company's
business profile that is consistent with a B rating. The Company's
primary focus is developing liquids-rich natural gas from the
Montney formation in Northeastern British Columbia (NEBC).
Following dispositions in 2014 and 2015, the Company's average
daily production increased 23% in 2016 to 23 thousand barrels of
oil equivalent per day (mboe/d) and is expected, based on Company
guidance, to rise slightly in 2017 to average 23 mboe/d to 24
mboe/d and to grow further in 2018. The Company's current size is
within the B range. The Company also has a significant inventory of
drilling locations that can add production with additional
development of the Montney. The Company's capital and operational
flexibility supports the rating as it operates the majority of its
production and owns and operates the related gas processing
facilities. However, the Company's heavy concentration of reserves
and production in NEBC and higher weighting of production toward
lower valued natural gas (74% on a boe basis for the year to date
September 30, 2017) are a constraint. The Company's key financial
metrics, notably the lease-adjusted debt/cash flow ratio of 3.04
times for the last 12 months ended September 30, 2017, are
consistent with the B rating range. DBRS notes that the Company's
key financial metrics should improve further with additional
production growth and higher anticipated prices for liquids
production.

Crew's liquidity is adequate and supported by a $235 million
borrowing base credit facility. As at September 30, 2017, $31.7
million was drawn on the facility and $8.2 million in letters of
credit were backed by the facility. The Company recently finished a
semi-annual review with no change to the borrowing base. The
facility revolves for a 364-day period and will be subject to the
next 364-day extension by June 6, 2018. Earlier this year, the
Company issued $300 million of new Notes due 2024. The proceeds
were used to redeem $150 million of Notes due in 2020 and to reduce
debt drawn on the credit facility thus enhancing the Company's
liquidity profile.

DBRS notes that based on a capital spending program of $235 million
for 2017 ($202 million spent to date) the Company is expected to
incur a free cash flow deficit (cash flow after capital spending)
for the year in excess of $100 million. The projected deficit is
expected to be funded by the issue of the 2024 notes and $49
million of asset sales which were completed earlier this year. DBRS
anticipates the Company to use its capital expenditure flexibility
in 2018 to mitigate additional sizable free cash flow deficits to
preserve liquidity and maintain the Company's key credit metrics
commensurate with the rating. However, the Company's cash flow is
very sensitive to natural gas price changes and, to a lesser
degree, changes in the price of crude oil and natural gas liquids.
Should the price of West Texas Intermediate (WTI) weaken materially
to USD 40 per barrel or less and the Company realizes a price on
average for its natural gas sales volumes of $2/mcf or less for an
extended period of time, DBRS may consider a negative rating
action.

Notes: All figures are in Canadian dollars unless otherwise noted.


CS360 TOWERS: Trustee's Sale of Sacramento Unit 109C for $85K OK'd
------------------------------------------------------------------
Judge Robert S. Bardwil of the U.S. Bankruptcy Court for the
Eastern District of California authorized Bradley Sharp, the
appointed Chapter 11 Trustee of CS360 Towers, LLC, to sell the
Commercial Unit 109C (Suite 25) located at 500 N Street,
Sacramento, California to Ratib Norzei and Shomisa Naizi Norzei
and/or their designee Roze, LLC for $85,000 credit bid.

A hearing on the Motion was held on Jan. 17, 2018 at 10:00 a.m.

In order to close the sale, the Buyers will also make a cash
contribution into escrow in an amount equal to the sale expenses
and expense reimbursement to the estate as estimated in Exhibit D
to the Motion, and in accordance with the terms and conditions that
are set forth in the Purchase Agreement which is attached to the
Motion.

The Trustee is authorized to pay the claims at closing of the
sale.

The sale is free and clear of the liens, claims or interests of the
obligation referenced by and the deed of trust recorded as Book
20141202 Page 0633 with the Sacramento County Recorder, in favor of
Mamnohan S. Passi & Sanjeet Passi Co-Trustees of the Passi Family
Trust dated Dec. 11, 1995, and/or Passi Realty LLC, as beneficiary.
The Sale Asset will be sold, transferred, and delivered to Buyer
on an "as is, where is" or "with all faults" basis.

The Trustee, and any escrow agent upon the Trustee's written
instruction, will be authorized to make such disbursements on or
after the closing of the sale as are required by the purchase
agreement or order of the Court, including, but not limited to, (a)
the closing costs identified in Exhibits B and D to the Exhibit
List submitted with the Motion, including broker commissions, and
(b) the estate expense reimbursement described in Exhibit D to the
Motion.

The Order will be effective immediately upon entry.  No automatic
stay of execution, pursuant to Rule 62(a) of the Federal Rules of
Civil Procedure, or Bankruptcy Rules 6004(h) or 6006(d), applies
with respect to the Order.

Daryl Gannon is approved as the Back-Up Bidder for Unit 109C, in
the amount of $75,000, and the Trustee may close the sale of the
unit to the Back-Up Bidder on the same terms as addressed herein,
if the Buyer does not close on the sale of this unit, without
further order of the Court.

In exchange for the right to credit bid and the Trustee's support
of the credit bid described in, effective as of the closing of, and
when Buyer takes title to, the Sale Assets, the Buyers will no
longer have any claim against in the above-referenced bankruptcy
case or against the bankruptcy estate, and the sale of the Sale
Assets will constitute full satisfaction of the Buyers' claim in
the case.

Passi Realty will retain any liens or deeds of trust on property
other than the Sale Assets and any deficiency claim that it may
have against the Debtor.

                       About CS360 Towers

CS360 Towers, LLC, filed a Chapter 11 petition (Bankr. E.D. Cal.
Case No. 17-20731) on Feb. 3, 2017.  Mark D. Chisick, manager,
signed the petition.  The Debtor tapped Stephan M. Brown, Esq. at
the Bankruptcy Group, P.C., as counsel.  At the time of filing, the
Debtor disclosed total assets of $18.46 million and total
liabilities of $5.72 million.

The case is assigned to Judge Robert S. Bardwil.  

Bradley Sharp was appointed as Chapter 11 Trustee for the estate of
CS360 Towers, LLC pursuant to order of the court dated March 15,
2017.  The assets of the estate include condominium units (both
residential and commercial) in the building located at 500 N
Street, Sacramento, California, and various claims and causes of
action.

Attorneys for Chapter 11 Trustee Bradley Sharp:

         Jamie P. Dreher, Esq.
         DOWNEY BRAND LLP
         621 Capitol Mall, 18th Floor
         Sacramento, CA 95814-4731
         Telephone: (916) 444-1000
         Facsimile: (91b) 444-2100
         E-mail: jdreher@downeybrand.com


DAILY GAZETTE: Wants to Obtain $400K Loan, Use Cash Collateral
--------------------------------------------------------------
Daily Gazette Company and its affiliated debtors ask the U.S.
Bankruptcy Court for the Southern District of West Virginia for
authorization to obtain post-petition financing from United Bank
and to use the cash collateral of United Bank in the ordinary
course of its business.

The Debtors ordinary business activities require cash on hand and
cash flow from operations to fund and operate their business. The
Debtors also require access to additional liquidity to fund their
Chapter 11 Cases while working toward a successful sale of
substantially all of their assets. Absent use of cash collateral
and access to post-petition financing, the Debtors may not be able
to continue operating in the ordinary course and the sale
transaction contemplated to maximize the value of the Debtors'
assets and business may be jeopardized. Accordingly, it is
imperative that the Debtors have sufficient liquidity to avoid
imminent and irreparable harm and successfully close the sale
transaction.

Among the material terms of the Debtor-In-Possession Financing, are
as follows:

     (1) The Debtors request authorization to obtain postpetition
financing described in the DIP Loan Agreement and Interim Order up
to the aggregate principal amount of $400,000 from United Bank.

     (2) The principal advances under the DIP Loan will bear
interest at the rate of 6.73% per annum (Fixed Rate), and the
default rate of interest will be 2.00% in excess of the Fixed
Rate.

     (3) The Maturity Date of the DIP Loan will be March 31, 2018.

     (4) Obligations incurred by the Debtors under the DIP Loan
Agreement will have priority, pursuant to section 364(c)(1) of the
Bankruptcy Code, over any and all administrative expenses of the
kind specified in sections 503(b) or 507(b) of the Bankruptcy Code,
subject to the Carve-Out (which carve-out pertains to the Debtors'
professionals' fees and fees owed to the Office of the U.S.
Trustee).

     (5) Obligations incurred by the Debtors under the DIP Loan
Agreement will be secured by perfected first priority security
interests in and liens upon all Real Property (excluding the Tucker
County Real Estate) and personal property of the Debtors, and any
other real or personal property as to which United Bank, at any
time of determination, has a Lien to secure the Obligations.

     (6) To the extent Advances have been made pursuant to the DIP
Loan Agreement and the principal balance of the DIP Loan is greater
than $0.00, United Bank will be entitled to automatically sweep the
Debtors' Operating Account -- provided that the balance in such
account does not drop below $50,000 -- until the principal balance
of the DIP Loan is $0.00.

The United Bank is the only entity of which the Debtors are aware
that has an interest in cash collateral. The Debtor claims that it
is critical that they are able to utilize cash collateral to fund
their ordinary business operations and preserve and maximize the
value of their business. The Debtors' use of cash collateral will
be subject to compliance with the Budget.

The Debtors will be permitted to use Cash Collateral until the
earlier of: (a) a default under the Interim Order; (b) the Maturity
Date stated in the DIP Loan Agreement, i.e., March 31, 2018; and
(c) further order of the Bankruptcy Court.

The Debtors will provide adequate protection to United Bank in the
form of continuing liens and security interests in all
Post-Petition Collateral to the same extent, type and priority as
United Bank has in the Pre-Petition Collateral, subordinate only to
the liens granted to United Bank under the DIP Loan Agreement.

A full-text of the Debtors' Motion is available at:

          http://bankrupt.com/misc/wvsb18-20028-10.pdf

                  About Daily Gazette Company

Headquartered in Charleston, West Virginia, Daily Gazette Company
and its affiliates operate privately owned information and
entertainment businesses consisting of the flagship newspaper, The
Charleston Gazette-Mail, as well as a related website, weekly
publications, a saturation mail product and the following  
verticals: http://www.wvcarfinder.com/;
http://www.wvrealestatefinder.com/;  
http://www.wvjobfinder.com/; and
http://www.gazettemailclassifieds.com/

Daily Gazette Company and certain of its affiliates sought for
bankruptcy protection under Chapter 11 (Bankr. S.D. W.Va. Case No.
18-20028) on Jan. 30, 2018.  In the petition signed by Norman W.
Shumate III, authorized signatory, Daily Gazette Company estimated
assets of $1 million to $10 million and liabilities of $10 million
to $50 million

Affiliates that simultaneously filed Chapter 11 petitions:

    Debtor                                      Case No.
    ------                                      --------
    Daily Gazette Company                       18-20028
    Daily Gazette Holding Company, LLC          18-20029
    Charleston Newspapers Holdings, L.P.        18-20030
    Daily Gazette Publishing Company, LLC       18-20032
    Charleston Newspapers                       18-20033
    G-M Properties, Inc.                        18-20034

Judge Frank W. Volk is the case judge.

Joe M. Supple, Esq. at Supple Law Office, PLLC and Brian A.
Audette, III, Esq. Perkins Coie LLP are the Debtors' bankruptcy
counsel; and Phil Murray and Dirks, Van Essen & Murray are Debtors'
consultant & broker.


DEBORAH & DANIELLE: Seeks Interim Use of Cash Collateral
--------------------------------------------------------
Deborah & Danielle Inc. asks the U.S. Bankruptcy Court for the
Northern District of Texas for authority of its interim use of cash
collateral to continue its ongoing operations.

The Debtor has an immediate need to use the cash collateral of Bank
of Hope -- the Debtor's secured creditor claiming liens on Debtor's
personal property including accounts. The Debtor claims that it has
no outside sources of funding available to it and must rely on the
use of cash collateral to continue its operations.

The Debtor's proposed One-Month Budget provides total expenses of
approximately $28,999.  It permits the payment of ongoing operating
expenses of the Debtor in order to allow the Debtor to maintain its
operations in Chapter 11.

The Debtor can adequately protect the interests of Bank of Hope as
set forth in the proposed Interim Order for Use of Cash Collateral
by providing Bank of Hope with post-petition liens, a priority
claim in the Chapter 11 bankruptcy case, and cash flow payments.

The Debtor intends to rearrange its affairs and needs to continue
to operate in order to pay its ongoing expenses, generate
additional income and to propose a plan in this case.

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

           http://bankrupt.com/misc/txnb18-30169-23.pdf

                    About Deborah & Danielle

Deborah & Danielle Inc. operates a women's clothing store located
at 11818 Harry Hines Blvd., Suite 216, Dallas, Texas.

Deborah & Danielle filed a Chapter 11 petition (Bankr. N.D. Tex.
Case No. 18-30169) on Jan. 15, 2018.  In the petition signed by
John H. Park, president, the Debtor estimated $50,000 to $100,000
in assets and $100,000 to $500,000 in liabilities.

No request has been made for the appointment of a trustee or
examiner and no official committee has yet been appointed.   

Deborah & Danielle Inc. is represented by:

         Joyce W. Lindauer, Esq.
         Sarah M. Cox, Esq.
         Jeffery M. Veteto, Esq.
         Joyce W. Lindauer Attorney, PLLC
         12720 Hillcrest Road, Suite 625
         Dallas, Texas 75230
         Telephone: (972) 503-4033
         Facsimile: (972) 503-4034
         E-mail: joyce@joycelindauer.com


DEBORAH & DANIELLE: Taps Joyce W. Lindauer as Legal Counsel
-----------------------------------------------------------
Deborah & Danielle Inc. seeks approval from the U.S. Bankruptcy
Court for the Northern District of Texas to hire Joyce W. Lindauer
Attorney, PLLC as its legal counsel.

The firm will assist the Debtor in the formulation of a plan of
reorganization and will provide other legal services related to its
Chapter 11 case.

Joyce Lindauer, Esq., will charge an hourly fee of $395 for her
services.  Sarah Cox, Esq., and Jeffery Veteto, Esq., contract
attorneys, will charge $225 per hour and $185 per hour,
respectively.

The hourly rates for paralegals and legal assistants range from $65
to $125 per hour.

Ms. Lindauer disclosed in a court filing that she and the firm's
contract attorneys are "disinterested" as defined in section
101(14) of the Bankruptcy Code.

The firm can be reached through:

     Joyce W. Lindauer, Esq.
     Sarah M. Cox, Esq.
     Jeffery M. Veteto, Esq.
     Joyce W. Lindauer Attorney, PLLC
     12720 Hillcrest Road, Suite 625
     Dallas, TX 75230
     Tel: (972) 503-4033
     Fax: (972) 503-4034
     E-mail: joyce@joycelindauer.com

                   About Deborah & Danielle

Deborah & Danielle Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Texas Case No. 18-30169) on Jan. 15,
2018.  In the petition signed by John H. Park, president, the
Debtor estimated total assets of less than $100,000 and liabilities
of less than $500,000.   Judge Stacey G. Jernigan presides over the
case.


DEX SERVICES: Proposes March 21 Auction of Equipment
----------------------------------------------------
DEX Services, LLC, asks the U.S. Bankruptcy Court for the Northern
District of Texas to authorize the sale of equipment at a public
auction to be conducted by Terra Point, LLC on March 21, 2018 in
Conroe, Texas.

For use in its oilfield services business, the Debtor owns various
trucks, trailers, equipment, machinery, and parts used at various
oil and gas wells the Debtor services.

On Oct. 3, 2017, the Debtor filed its Emergency Motion/or Interim
Use of Cash Collateral and I0 Set Final Hearing on Use of Cash
Collateral ("CC Motion").  Since filing the CC Motion, the Debtor
has been able to negotiate the continued interim use of cash
collateral, with the Debtor currently operating under the
negotiated Fourth Agreed Order Granting Interim Use of Cash
Collateral and Setting Final Hearing on Use of Cash Collateral.

As part of the agreement reached with InterBank of Canadian, Texas,
the Debtor has agreed to file a motion for authority to sell assets
of the estate and to hire an auctioneer.  The agreement reached
with InterBank requires that the motion to sell be filed by Jan.
31, 2018 and the auction be concluded by April 1, 2018.

On the Debtor's Schedules tiled with the Court on Oct. 13, 2017,
the Debtor listed several categories of equipment, machinery,
trucks, and trailers.  The Debtor intends to sell 16 vehicles on
the Vehicle List, eight generator trailers on the Generator Trailer
List, 19 trailers on the Trailer List, three steamer trailers from
the Steamer Trailer List, eight trash trailers from the Trash
Trailer List, six light towers from the Light Tower List, and 13
pieces of equipment from the Equipment List free and clear of all
liens at a public auction to be conducted by Terra Point, LLC on
March 21, 2018 in Conroe, Texas.

In the event not all of the Equipment sells at the March 21st
auction or the Debtor, upon consultation with Terra Point and
InterBank, determines some of the Equipment would generate a higher
return in the April 11, 2018 auction, the Debtor will put the
Equipment in the April 11, 2018 auction in Conroe, Texas.

Upon the sale of the Equipment, the Debtor will execute any and all
documents necessary to effectuate the transfer of said Equipment.

InterBank and the Internal Revenue Service hold liens against the
Equipment.  The Debtor believes that InterBank holds a first lien
against all titled Equipment, with the IRS holding a second lien.
The Debtor believes the IRS holds a first lien against any untitled
Equipment, with InterBank holding a second lien.

Pursuant to the provisions of 11 U .S.C. Section 363(t) as well as
the provisions of Bankruptcy Rule of Procedure 6004(0), the Debtor
desires to sell the Equipment described in the Motion free and
clear of any and all interest with the liens against such Equipment
to attach to the proceeds and to be distributed to the IRS and
InterBank in accordance with the priority of their liens as may be
established in any order of the Bankruptcy Court or upon agreement
between InterBank and the IRS.

The Debtor believes that a need exists for shortened notice on the
Motion, as, pursuant to the Fourth Agreed Order on Use of Cash
Collateral that the Debtor is currently operating under, the Debtor
is to conduct the auction of its assets by April 1, 2018.  Further,
to properly market and sell the Equipment, Terra Point will need at
least 30 days prior to the March 21, 2018 auction date to market
the Equipment.

The Debtor believes that the IRS and InterBank are the only
creditors with an interest in the machinery and equipment being
sold.  Because the IRS an InterBank agreed to the terms of the
Fourth Agreed Order on Use of Cash Collateral, and are aware of the
terms and conditions agreed to with regard to the sale of the
Debtor's Equipment, the Debtor will request by separate motion
shortened notice on the Motion to eight days' notice for any
creditor or party in interest to object to the Motion to Sell.

                     About DEX Services

DEX Services, LLC, is a privately-held company in Canadian, Texas,
operating under the "Other Professional, Scientific, and Technical
Services" industry.  Its principal business address is 10955
Exhibition Lane Road, Canadian, Texas, 79014, Hempill County.  DEX
Services operates an oilfield services company, providing
roustabout services to various customers, in and around Canadian,
Texas.  It owns three tracts of real property in Canadian, Texas on
which the Debtor operates its oilfield services company.  The real
property is located at 10951, 10953, and 10955 Exhibition  Lane
Road.  The three tracts of land contain the Company's offices, yard
to store equipment, trucks, trailers, and machinery, and multiple
mobile homes.

DEX Services filed a Chapter 11 petition (Bankr. N.D. Tex. Case No.
17-50242) on Sept. 30, 2017.  In the petition signed by James
Poindexter, managing member, the Debtor estimated assets and
liabilities between $1 million and $10 million.  The
case is assigned to Judge Robert L. Jones.  The Debtor is
represented by Brad W. Odell, Esq. at Mullin Hoard & Brown, L.L.P.


DOLE FOOD: S&P Puts Ratings on on Watch Pos. on Total Produce Deal
------------------------------------------------------------------
S&P Global Ratings placed all of its ratings on Westlake Village,
Calif.-based Dole Food Co. Inc., including the 'B-' corporate
credit rating, on CreditWatch with positive implications.

S&P estimates Dole had about $1.2 billion in net debt outstanding
as of Oct. 7, 2018.

The CreditWatch placement follows Dole's recent announcement that
Total Produce PLC (a publicly traded company on the London and
Irish stock exchanges) will acquire a 45% stake from Dole's sole
owner, David Murdock, for $300 million. Total Produce will have the
option to acquire an additional 6% controlling share at any point
following the close of the transaction, and an option to acquire
the remaining 49% after two years.

SYP said, "We intend to resolve the CreditWatch placement if Total
Produce raises the requisite capital to purchase the 45% stake in
Dole, if the transaction closes with the current anticipated change
in governance fully implemented, and if upcoming financial
performance disclosures prior to close continue to show
stable-to-improving operational performance. Our review of the
final implementation of the enhanced board and governance
structure, will verify that David Murdock does not have board
control over the company's business and capital allocation
strategies. Because Dole's cash flows have been significantly
compromised over the past two years by litigation costs, penalty
payments, and product recall costs, an upgrade would also require
that Dole at least maintain its run-rate operational performance
without any material shortfalls and without incurring additional
unanticipated cash outflows such as dividends or litigation costs
and penalties."


DOMINICA LLC: Taps Pioneer as Real Estate Appraiser
---------------------------------------------------
Dominica LLC seeks approval from the U.S. Bankruptcy Court for the
District of Massachusetts to hire a real estate appraiser.

The Debtor proposes to employ Pioneer Appraisals, Inc., to conduct
an appraisal of its real estate properties.  The firm will be paid
a flat fee of $350 for an appraisal of each property.

Joshua Nicholson, a real estate appraiser and a partner at Pioneer,
disclosed in a court filing that he is a "disinterested person" as
defined in section 101(14) of the Bankruptcy Code.

Pioneer can be reached through:

     Joshua Nicholson
     Pioneer Appraisals, Inc.
     P.O. Box 252
     Westborough, MA 01581
     Phone: (508) 330-3813
     Fax: 866-849-0452
     E-mail: pioneerappraisals@verizon.net

                       About Dominica LLC

Dominica LLC owns and manages the three family house known and
numbered as 20 Sutton Street, Boston (Mattapan) Massachusetts.
Dominica LLC filed a Chapter 11 petition (Bankr. D. Mass. Case No.
16-13461) on Sept. 8, 2016.  In the petition signed by Evangeline
Martin, manager, the Debtor estimated assets and liabilities at
$500,001 to $1 million at the time of the filing.  Michael Van Dam,
Esq., at Van Dam Law LLP, is the Debtor's bankruptcy counsel.


ENSEQUENCE INC: Proposes April 12 Auction for All Assets
--------------------------------------------------------
Ensequence, Inc., asks the U.S. Bankruptcy Court for the District
of Delaware to authorize the bidding procedures in connection with
the sale of substantially all assets at auction.

The Debtor's primary assets include its over seventy network
contracts, a patent portfolio of existing and provisional patents,
and its employees and their key relationships throughout the
industry ("Assets").  The Debtor has, subject to the Court's
approval, retained Wyse Advisors, LLC ("WALLC") to conduct
marketing and sale process for substantially all of its assets.  

To date, WALLC has contacted ten prospective non-strategic
investors, two of whom have executed non-disclosure agreements and
been provided with additional information regarding the Debtor.
WALLC is in the process of contacting more than 50 potential
investors, the majority of which will be strategic investors.
Given the size of the niche industry in which the Debtor operates,
WALLC decided it was in the best interest of the Debtor to wait
until the Chapter 11 Case commenced before contacting strategic
investors.

The Debtor does not own any real property.  Until recently, the
Debtor leased space in both Portland, Oregon and New York, New
York.  As part of the proposed sale process, the Debtor and WALLC
will engage in a robust marketing effort for the Debtor's Assets,
contacting both financial and strategic investors regarding a
potential sale process.  WALLC will not place any conditions on
potentially interested parties regarding bid levels, structure,
financing, or management in connection with the solicitation of
indications of interest.

All interested parties will be given an opportunity to execute a
confidentiality agreement.  Those parties that execute a
confidentially agreement will be provided with substantial due
diligence information concerning, and access to, the Debtor,
including access to financial, operational, and other detailed
information.

The Debtor believes a prompt sale of the Assets represents the best
option available for all stakeholders in the Chapter 11 Case.
Moreover, it is critical for the Debtor to execute on a sale
transaction within the timeframe contemplated by the Debtor's
agreements with its prepetition lender.  Specifically, the Debtor
has agreed to comply with certain milestones in exchange for the
permission to use cash collateral pursuant to its Cash Collateral
Motion and the proposed Cash Collateral Order.  It is also
anticipated that the Debtor may require DIP financing that will
contain similar milestones.

By the Motion, the Debtor asks that the Court approves the general
timeline.  These dates are subject to change in the event that the
Court does not enter an interim order at the hearing on the Cash
Collateral Motion:

     a. Contract Cure Objection Deadline: Objections to the
potential assumption and assignment of any Contract will be filed
and served no later than 4:00 p.m. (ET) on April 10, 2018.

     b. Bid Deadline: Bids for the Assets, including a marked-up
form of the Stalking Horse Agreement, if one has been accepted by
the Debtor as contemplated by the Bid Procedures Order, as well as
the deposit and the other requirements for a bid to be considered a
Qualified Bid must be received by no later than April 10, 2018 at
4:00 p.m. (ET).

     c. Auction: The Auction, if necessary, will be held at the
offices of Polsinelli PC, 600 Third Avenue, New York, New York
10016 on April 12, 2018 at 10:00 a.m. (ET), or such other location
as identified by the Debtor after notice to all Qualified Bidders.

     d. Sale Objection Deadline: Objections to the Sale will be
filed and served no later than April 10, 2018.

     e. Sale Hearing: Subject to the Court's availability and
schedule, the Sale Hearing will commence on April 17, 2018.

To optimally and expeditiously solicit, receive, and evaluate bids
in a fair and accessible manner, the Debtor has developed and
proposed the Bid Procedures.

The salient terms of the Bidding Procedures are:

     a. The Debtor will evaluate all Bids to determine whether such
Bid(s) maximizes the value of the Debtor's estate as a whole.  The
Transaction Documents will also identify any Contracts of the
Debtor that the Bidder wishes to have assumed and assigned to it.
It will consider proposals for less than substantially all of the
Debtor's Assets or operations.

     b. Good Faith Deposit: 10% of the proposed purchase price

     c. Bid Deadline: April 10, 2018 at 4:00 p.m. (ET)

     d. Credit Bid: The Debtor's prepetition lender, Myrian Capital
Fund, LLC (Series C) will be deemed to be a Qualified Bidder and is
not required to make any Good Faith Deposit in submitting a Credit
Bid.

     e. Cancelation of the Auction: If the Debtor does not receive
at least two Qualified Bids (other than a Credit Bid) or otherwise
determines, after consultation with the Consultation Parties, not
to proceed with the Sale, the Debtor may elect not to conduct the
Auction and may cancel the Auction.

     f. Bidding Increments and Overbid: At the Auction, the Debtor
will announce the leading Qualified Bid.  The bidding on the Assets
beyond the Auction Baseline Bid will be done in increments that
will be determined by the Debtors after consultation with the
Consultation Parties.

     g. Auction: The Auction, if necessary, will take place on
April 12, 2018 at 10:00 a.m., at the offices of Debtor's counsel,
Polsinelli PC, 600 Third Avenue, 42nd Floor, New York, New York.

     h. Sale Hearing: April 17, 2017 at 10:00 a.m. (ET)

     i. Sale Objection Deadline: April 10, 2018 no later than 4:00
p.m. (ET)

A copy of the Bidding Procedures attached to the Motion is
available for free at:

     http://bankrupt.com/misc/Ensequence_Inc_26_Sales.pdf

Within two business days after entry of the Bid Procedures Order,
the Debtor will cause the Sale Notice to be served upon the Notice
Parties.  The Debtor is also asking approval of the Assumption
Procedures to facilitate the fair and orderly assumption and
assignment of the Contracts in connection with the Sale.  Pursuant
to the Bid Procedures Order, the Cure and Possible Assumption and
Assignment Notice and the Assumption Notice to be sent to the
Contract Counterparties.

As set forth, the Sale contemplates the potential assumption and
assignment of the Contracts to the Successful Bidder arising from
the Auction, if any.  In connection with this process, the Debtor
believes it is necessary to establish a process by which: (a) the
Debtor and the Contract Counterparties can reconcile cure
obligations, if any, in accordance with Bankruptcy Code sections
105(a) and 365; and (b) such counterparties can object to the
potential Assumption Procedures.  The Debtor is asking authority to
assign the Assigned Contracts to the Successful Bidder to the
extent required by such Successful Bidder.

Except as may otherwise be agreed to in the Successful Bid or by
the parties to an Assigned Contract, at the closing of the Sale,
the Successful Bidder will cure those defaults under the Assigned
Contracts that need to be cured in accordance with Bankruptcy Code
section 365(b) by (a) payment of the undisputed cure amount and/or
(b) reserving amounts with respect to any disputed cure amounts.

The Sale Order will provide that the Successful Bidder will not
have any successor liability related to the Seller or the Assets to
the maximum extent permitted by law.  Extensive case law
establishes that claims against a winning bidder may be directed to
the proceeds of a free and clear sale of property, and may not
subsequently be asserted against that buyer.

To maximize the value received from the Assets, and to ensure
compliance with the requirements of the Cash Collateral Order, the
Debtor asks to close the Sale as soon as possible after the Sale
Hearing.  Accordingly, the Debtor asks that the Court waives the
14-day stay periods under Bankruptcy Rules 6004(h) and 6006(d).

Proposed Counsel for Debtor:

          Christopher A. Ward, Esq.
          Stephen J. Astringer, Esq.
          222 Delaware Avenue, Suite 1101
          Wilmington, DE 19801
          Telephone: (302) 252-0920
          Facsimile: (302) 252-0921
          E-mail: cward@polsinelli.com
          sastringer@polsinelli.com

                    - and -

          Jeremy R. Johnson, Esq.
          600 3rd Avenue, 42nd Floor
          New York, NY 10016
          Telephone: (212) 684-0199
          Facsimile: (212) 684-0197
          E-mail: jeremy.johnson@polsinelli.com

                      About Ensequence Inc.

Ensequence, Inc. is a privately-owned Delaware corporation engaged
in the business of making advertisements on television.  It was
formed in 2001 as a provider of tools for building interactive
television applications for television networks, advertisers and
distributors of network television.

Ensequence sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Case No. 18-10182) on Jan. 30, 2018.  In the
petition signed by CRO Michael Wyse, the Debtor estimated assets of
$1 million to $10 million and liabilities of $10 million to $50
million.  

Judge Kevin Gross presides over the case.

The Debtor tapped POLSINELLI PC as counsel; OUTSIDE GENERAL COUNSEL
SERVICES, P.C., as general corporate counsel; WYSE ADVISORS LLC as
restructuring advisor; and RUST CONSULTING/OMNI BANKRUPTCY as
claims and noticing agent.

McDermott Will & Emery represents the Debtor's pre-bankruptcy
lender.


ENSEQUENCE INC: Rust Consulting Is Administrative Agent
-------------------------------------------------------
Ensequence, Inc. seeks approval from the U.S. Bankruptcy Court for
the District of Delaware to hire Rust Consulting/Omni Bankruptcy as
its administrative agent.

The firm will provide bankruptcy administrative services, which
include recording all transfers of claims; preparation and mailing
of documents to creditors in connection with the solicitation of a
Chapter 11 plan; collecting and tabulating votes; and managing any
distributions made under the plan.

The firm's hourly rates are:

     Analyst                    $25 - $40
     Consultant                 $50 - $125
     Senior Consultant         $140 - $155
     Equity Services               $175
     Technology/Programming     $85 - $135

Paul Deutch, executive managing director of Rust Consulting,
disclosed in a court filing that his firm is a "disinterested
person" as defined in section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Paul H. Deutch
     Rust Consulting/Omni Bankruptcy
     1120 Avenue of the Americas, 4th Floor
     New York, NY 10036
     Tel: 212-302-3580
     Fax: 212-302-3820

                       About Ensequence Inc.

Ensequence, Inc. is a privately-owned Delaware corporation engaged
in the business of making advertisements on television.  It was
formed in 2001 as a provider of tools for building interactive
television applications for television networks, advertisers and
distributors of network television.

Ensequence sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Case No. 18-10182) on Jan. 30, 2018.  In the
petition signed by CRO Michael Wyse, the Debtor estimated assets of
$1 million to $10 million and liabilities of $10 million to $50
million.  

Judge Kevin Gross presides over the case.

The Debtor tapped Christopher A. Ward, Esq. of Polsinelli PC as its
bankruptcy counsel; Outside General Counsel Services, P.C., as its
general corporate counsel; Wyse Advisors LLC as its restructuring
advisor; and Rust Consulting/Omni Bankruptcy as its notice, claims,
balloting agent  and administrative advisor.

The prepetition lender is represented by McDermott Will & Emery.


ENSEQUENCE INC: Rust Consulting Is Claims Agent
-----------------------------------------------
Ensequence, Inc., received approval from the U.S. Bankruptcy Court
for the District of Delaware to hire Rust Consulting/Omni
Bankruptcy as its claims and noticing agent.

The firm will oversee the distribution of notices, and the
maintenance, processing and docketing of claims filed in the
Debtor's Chapter 11 case.

The firm's hourly rates are:

     Analyst                    $25 - $40
     Consultant                 $50 - $125
     Senior Consultant         $140 - $155
     Equity Services               $175
     Technology/Programming     $85 - $135

Paul Deutch, executive managing director of Rust Consulting,
disclosed in a court filing that his firm is a "disinterested
person" as defined in section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Paul H. Deutch
     Rust Consulting/Omni Bankruptcy
     1120 Avenue of the Americas, 4th Floor
     New York, NY 10036
     Tel: 212-302-3580
     Fax: 212-302-3820

                       About Ensequence Inc.

Ensequence, Inc. is a privately-owned Delaware corporation engaged
in the business of making advertisements on television.  It was
formed in 2001 as a provider of tools for building interactive
television applications for television networks, advertisers and
distributors of network television.

Ensequence sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Case No. 18-10182) on Jan. 30, 2018.  In the
petition signed by CRO Michael Wyse, the Debtor estimated assets of
$1 million to $10 million and liabilities of $10 million to $50
million.  

Judge Kevin Gross presides over the case.

The Debtor tapped Christopher A. Ward, Esq. of Polsinelli PC as its
bankruptcy counsel; Outside General Counsel Services, P.C., as its
general corporate counsel; Wyse Advisors LLC as its restructuring
advisor; and Rust Consulting/Omni Bankruptcy as its notice, claims,
balloting agent  and administrative advisor.

The prepetition lender is represented by McDermott Will & Emery.


ENSEQUENCE INC: Seeks to Hire Wyse Advisors, Appoint CRO
--------------------------------------------------------
Ensequence, Inc. seeks approval from the U.S. Bankruptcy Court for
the District of Delaware to hire Wyse Advisors LLC and appoint the
firm's managing partner Michael Wyse as its chief restructuring
officer.

Mr. Wyse and his firm will manage the restructuring,
recapitalization, refinancing and any sale-related efforts of the
Debtor; evaluate additional strategic alternatives; help stabilize
and enhance the financial and operational performance of the
Debtor's business; lead negotiations with potential suitors; manage
cash forecasting and liquidity management procedures; and provide
other services related to the Debtor's Chapter 11 case.

Wyse Advisors will be paid a flat fee of $35,000 per month.  In
addition, the firm will earn a "success fee" of 5% of the value of
any transaction related to the Debtor.

The firm does not hold any interest adverse to the Debtor's estate,
according to court filings.

Wyse Advisors can be reached through:

     Michael Wyse
     Wyse Advisors LLC
     85 Broad Street, 29th Floor
     New York, NY 10004
     Phone: 917-553-5883 / 646-854-5318
     Email: mwyse@wyseadvisorsllc.com

                        About Ensequence Inc.

Ensequence, Inc. is a privately-owned Delaware corporation engaged
in the business of making advertisements on television.  It was
formed in 2001 as a provider of tools for building interactive
television applications for television networks, advertisers and
distributors of network television.

Ensequence sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Case No. 18-10182) on Jan. 30, 2018.  In the
petition signed by CRO Michael Wyse, the Debtor estimated assets of
$1 million to $10 million and liabilities of $10 million to $50
million.  

Judge Kevin Gross presides over the case.

The Debtor tapped POLSINELLI PC as counsel; OUTSIDE GENERAL COUNSEL
SERVICES, P.C., as general corporate counsel; WYSE ADVISORS LLC as
restructuring advisor; and RUST CONSULTING/OMNI BANKRUPTCY as
claims and noticing agent.

McDermott Will & Emery represents the Debtor's pre-bankruptcy
lender.


ENSEQUENCE INC: Wants Access to Cash Collateral Until June 13
-------------------------------------------------------------
Ensequence, Inc., seeks authority from the United States Bankruptcy
Court for the District of Delaware to use Cash Collateral to
maintain and continue its business and to administer this case
pending a going concern sale, subject to the amounts provided for
in the Budget until June 13, 2018.

As of the Petition Date, the Debtor is indebted to Myrian Capital
Fund, LLC approximately $36,700,000 in principal and interest
outstanding under the Prepetition Loan Documents, which is validly
secured with a first priority lien on substantially all of the
Debtor's assets, including all cash and cash equivalents  of the
Debtor or proceeds thereof.

The proposed Interim Order provides Myrian Capital Fund with a
replacement lien, an allowed superpriority administrative expense
claim pursuant to Bankruptcy Code sections 503 and 507(b). During
the Chapter 11 Case, the Debtor will pay or reimburse in cash
Myrian Capital Fund for reasonable and documented fees,
out-of-pocket costs, expenses, and charges on a regular monthly
basis consistent with the Budget.

The proposed Interim Order requires that the Debtor to provide
Myrian Capital Fund with the following:

      (a) On or before the end of business on Wednesday of each
calendar week commencing Feb. 7, 2018, an updated Budget;

      (b) On or before the end of business on Wednesday of each
calendar week commencing Feb. 7, 2018: (i) a weekly cash flow
comparison that compares the Debtor's actual receipts and expenses
for the prior week to the Budget with respect to such week and (ii)
a compliance certificate, certified on behalf of the Debtor by an
officer of the Debtor, relating to liquidity, cumulative
disbursements, minimum collections, and other matters for the prior
week; and

      (c) other periodic reports as Myrian Capital Fund may request
from time to time regarding efforts by the Debtor to improve
revenue cycle management processes and procedures, accounting and
finance, information systems, and other matters.

Moreover, Myrian Capital Fund will have the right to inspect the
Prepetition Collateral and the Debtor's books and records relating
thereto.

The Debtor will maintain in its name the bank account at Silicon
Valley Bank with an account number ending in 0461 and will use the
Deposit Account as the Debtor's only operating account, including
depositing all funds from collection of receivables into the
Deposit Account. The Debtor will not maintain any cash in any bank
account other than the Deposit Account.

Finally, the Debtor will meet all of the following milestones:

     (a) Feb. 20, 2018 - Approval of bid procedures and a Final
Order on Cash Collateral, in forms acceptable to Myrian Capital
Fund.

     (b) March 1, 2018 - Filing a joint plan and disclosure
statement, in a form acceptable to Myrian Capital Fund.

     (c) April 19, 2018 - Approval of a sale order, in a form
acceptable to Myrian Capital Fund.

     (d) April 23, 2018 - Entry of an order granting interim
approval of the disclosure statement, approval of solicitation
procedures, and scheduling a hearing on confirmation of the plan,
each in a form acceptable to Myrian Capital Fund.

     (e) April 25, 2018 - Commencement of solicitation of votes on
confirmation of the plan.

     (f) June 7, 2018 - Entry of an order granting final approval
of the disclosure statement and confirmation of the plan, in a form
acceptable to Myrian Capital Fund.

     (g) June 13, 2018 - Effective date of the plan.

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

           http://bankrupt.com/misc/deb18-10182-5.pdf

                        About Ensequence, Inc.

Ensequence, Inc., is a privately owned Delaware corporation engaged
in the business of making advertisements on television more
interactive and measurable. The Company was formed in 2001 as a
provider of tools for building interactive television applications
for television networks, advertisers and distributors of network
television.  During the period from 2013 to the present, the
Company expanded its focus to include manufacturers of "smart
televisions."  Throughout its history, the Company has partnered
with national cable networks (e.g., MTV, NBC, ESPN, CNN, HBO,
etc.), traditional distributors (e.g., Comcast, Time Warner Cable,
DIRECTV, etc.), and television manufacturers (e.g., Samsung, LG,
Sony, etc.).  One year ago, the Company had approximately 50
employees, but as of the Petition Date, the Debtor has five
full-time employees executing its strategic plan.

Ensequence, Inc., filed a Chapter 11 petition (Bankr. D. Del. Case
No. 18-10182) on Jan. 30, 2018.  In the petition signed by CRO
Michael Wyse, the Debtor estimated $1 million to $10 million in
assets and $10 million to $50 million in liabilities.

The case is assigned to Judge Kevin Gross.

The Debtor tapped Christopher A. Ward, Esq. of Polsinelli PC as its
bankruptcy counsel; Outside General Counsel Services, P.C., as its
general corporate counsel; Wyse Advisors LLC as its restructuring
advisor; and Rust Consulting/Omni Bankruptcy as its notice, claims,
balloting agent  and administrative advisor.

The prepetition lender is represented by McDermott Will & Emery.


EQUIAN BUYER: Moody's Affirms B2 CFR & Revises Outlook to Negative
------------------------------------------------------------------
Moody's Investors Service affirmed Equian Buyer Corp.'s B2
Corporate Family Rating ("CFR"), its B2-PD Proability of Default
Rating, and B2 instrument ratings on $768 million of first-lien
revolver and term loan debt, the latter which includes a new, $315
million add-on portion. Equian, a healthcare-payment-integrity
services provider, will use proceeds from the add-on facility to
fund the entire purchase price (plus fees) of OmniClaim, a
fast-growing provider of claims-validation software and services
for commercial health insurers. Moody's has changed the ratings
outlook to negative, from stable.

The negative outlook reflects Moody's view that debt-to-EBITDA
leverage will rise to well above 6.0 times because of the
acquisition as well as the risks to reducing leverage and
generating the free cash flow consistent with the rating category,
given the company's significant acquisition activity. The OmniClaim
purchase is occurring not long after the late-2015 combination of
Health Systems International and Trover Solutions that formed
Equian plus multiple subsequent acquisitions. Additional quarters'
worth of clean, comprehensive financial statements will be required
to ascertain Equian's success at acquisition integration and its
capability to de-lever.

Moody's nevertheless affirmed the B2 CFR because robust demand for
outsourced payment integrity services, Equian's recent, strong
customer retention levels and bookings, and OmniClaim's strategic
fit within the data mining and audit functions of Equian's
post-payment segment provide at least the framework for steady,
mid- to upper-single-digit revenue growth and modest deleveraging,
to below 6.0 times by the end of 2018, a level more appropriate for
the B2 rating category given Equian's operating profile.

Affirmations:

Issuer: Equian Buyer Corp.

-- Probability of Default Rating, affirmed B2-PD

-- Corporate Family Rating, affirmed B2

-- Senior secured bank credit facilities, maturing 2022 and 2024,

    affirmed B2, LGD3

Outlook, changed to negative, from stable

RATINGS RATIONALE

OmniClaim brings technology and analytics strengths to on-site
auditing of healthcare providers' insurance claims, with a
specialty in validating diagnosis-related groupings ("DRG"). Its
analytics are used to better identify what claims should be
audited, cutting down on provider abrasion and enhancing the
savings-yield per audit, while Equian, which employs remote
auditing, can perform a deeper clinical review of the selected
claim, thereby maximizing yields on claims with errors. The
complementarity of OmniClaim's technology and Equian's procedures
suggests the best practices of each player can be joined to form a
best-in-class DRG validation service. Additionally, Equian will
look to cross-sell some of its other services to OmniClaim's
customers, which include some of the largest healthcare payers in
the U.S..

The B2 CFR reflects, in addition to high leverage, Equian's small
revenue scale and, given the acquisition-driven formation of the
company in late 2015, its lack of significant, consistent operating
history. Equian's good profitability and Moody's-expected steady,
upper-single-digit percentage revenue growth and profit expansion
-- which are enhanced by the OmniClaim acquisition -- will allow
for at least moderate deleveraging. The rating reflects niche
strengths within the payment integrity continuum serving the
healthcare, property and casualty, and workers' compensation
industries. Moody's believes that the healthcare industry's
structure -- with favorable demographics, medical-inflation-driven
market growth, ever increasing complexity of the healthcare payment
ecosystem, and higher penetration of outsourced services -- partly
offsets Equian's company-specific structural deficiencies, weaker
liquidity, and risks posed by a likely continuation of the
company's active acquisition track record as it looks to build
scale and service capabilities. Moody's believes that Equian faces
formidable competition from larger, more diversified players who
offer true end-to-end services across the healthcare-payment-claims
lifecycle. Equian also faces elevated risks under private equity
ownership including the potential for debt-funded shareholder
distributions and additional acquisitions.

Moody's views Equian's liquidity as adequate. Its current cash
balance is approximately $22 million, but given the additional debt
burden and the company's expected growth trajectory, its $30
million revolver, with $7 million drawn, is now rather small
relative to its fixed expense requirements (required annual debt
amortization payments of approximately $7.4 million, interest,
capital expenditures, and taxes). Equian's limited track record as
a combined company, the addition of OmniClaim, and an active
acquisition platform diminish visibility into the company's cost
structure and free cash flow. Equian will also have less certain
covenant flexibility, as cushion relative to the 6.5 times maximum
net first-lien leverage covenant, for the benefit of revolving
credit lenders only, will be considerably leaner given the
incremental $315 million of term loan debt. Moody's expects that
the company, with top line and EBITDA expansion, will grow into a
more comfortable position relative to covenant strictures.

The ratings could face downward pressure if revenue growth falls
short of the steady, mid- to high-single-digit percentages that
Moody's anticipates, or if Moody's expects debt-to-EBITDA leverage
will be sustained above 6.0 times. Liquidity deterioration could
also lead to a downgrade. Moody's would consider a ratings upgrade
if Equian builds significant operating scale, while maintaining
margins, and if leverage is sustained below 4.0 times.

Equian Buyer Corp. and its subsidiaries ("Equian") provide
healthcare payment integrity ("PI") services to, primarily, claims
payors in the commercial healthcare and workers' compensation
insurance segments.

Equian provides prepayment services and subrogation and
datamining/audit (postpayment) services to its customers, with a
focus on ensuring that the correct financial party is responsible
and that claims are paid using appropriate codes, quantities, and
prices. Moody's expects the company to realize 2018 revenues of
close to $370 million. Private equity firm New Mountain Capital
owns Equian as the result of a late 2015 acquisition.

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


EXPRO HOLDINGS: Prepackaged Plan Declared Effective
---------------------------------------------------
Expro Holdings US Inc. disclosed that its prepackaged Chapter 11
plan of reorganization has been declared effective on Feb. 5,
2018.

The Debtors filed the Chapter 11 plan and disclosure statement on
Dec. 18, 2017.  The Hon. David R. Jones of the United States
Bankruptcy Court for the Southern District of Texas in Houston on
Jan. 25, 2018, entered an order approving Plan of Reorganization
and the Disclosure Statement related thereto.  On Feb. 5, the
Effective Date of the Plan occurred, and the Plan was consummated.

Expro sought Chapter 11 protection after reaching an agreement with
its key lenders and shareholders to eliminate its entire $1.4
billion of funded debt and $80 million in annual interest payments
through an equity conversion, which will fully deleverage Expro's
balance sheet.

"This important milestone will provide Expro with a stronger and
more sustainable capital structure to grow its business, and will
be supported by an additional $200 million equity commitment from
its new shareholders," the Company has earlier said.

The Company has proposed to pay all prepetition amounts in full
under its plan. Suppliers should expect to be paid 100% of their
claim.

                       About Expro Holdings

Houston, Texas based Expro Holdings US Inc. --
https://www.exprogroup.com/ -- is a provider of specialized well
flow management products and services to the oil and gas industry,
with a specific focus on offshore, deepwater and other technically
challenging environments.

Expro Holdings US Inc. and 30 affiliates and subsidiaries sought
Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 17-60179) on
Dec. 18, 2017.

Expro Holdings estimated assets of $500 million to $1 billion and
liabilities of $1 billion to $10 billion.

The Debtors tapped Jackson Walker, L.L.P., and Paul, Weiss,
Rifkind, Wharton & Garrison LLP as counsel; Alvarez & Marsal as
restructuring advisors; and Prime Clerk LLC as claims agent.


FINANCIAL 15: DBRS Confirms Pfd-4(high) on Preferred Shares
-----------------------------------------------------------
DBRS Limited confirmed the rating of the Preferred Shares issued by
Financial 15 Split Corp. (the Company) at Pfd-4 (high). The Company
invests in a portfolio (the Portfolio) consisting primarily of
common shares of 15 high-quality North American financial services
companies: Bank of America Corporation, Bank of Montreal, Bank of
Nova Scotia, Canadian Imperial Bank of Commerce, CI Financial
Corp., Citigroup Inc., The Goldman Sachs Group Inc., Great-West
Lifeco Inc., JP Morgan Chase & Co., Manulife Financial Corporation,
National Bank of Canada, Royal Bank of Canada, Sun Life Financial
Inc., The Toronto-Dominion Bank, and Wells Fargo & Company. In
addition, up to 15% of the net asset value (NAV) of the Company may
be invested in securities of issuers other than those mentioned
above. These issuers include Fifth Third Bancorp and AGF Management
as of May 31, 2017. The common shares of a particular Portfolio
Company each represent between 1.2% and 8.9% of the total NAV of
the Company. No more than 10% of the NAV of the Company may be
invested in any single issuer. The Portfolio is actively managed by
Quadravest Capital Management Inc.

A portion of the Company's Portfolio is exposed to currency risk,
as it includes securities and options denominated in U.S. dollars
(USD), while the NAV of the Company is expressed in Canadian
dollars. The Company has not entered into currency hedging
contracts for the USD portion of the Portfolio, although the
Company may use derivatives for hedging purposes. As of May 31,
2017, approximately 40% of the Portfolio was invested in
USD-denominated assets.

The Preferred Shares dividend increased by 25 basis points as of
December 1, 2017, to pay a fixed cumulative monthly dividend of
$0.04583 per share, yielding 5.50% annually on their issue price of
$10 per share. Holders of the Class A Shares continue to receive
regular monthly cash distributions in an amount to be determined by
the board of directors. No regular monthly distributions will be
paid to the Class A Shares if the NAV per unit is below the $15
threshold or if any dividends on the Preferred Shares are in
arrears. The dividend coverage ratio is expected to be 0.4 times
after the dividend increase on the Preferred Shares. Regular
monthly Class A Share distributions will result in an average
annual grind of approximately 8% over the next three years.

Downside protection available to holders of the Preferred Shares
was 44.3% as of November 15, 2017. Over the past year, the downside
protection remained volatile with several distinct increases that
permitted the Company to complete three follow-on offerings during
these times. The latest offering was completed on November 15,
2017, bringing the total number of each class of shares to
approximately 33.3 million and the Company's net assets to $596.3
million.

The scheduled redemption date for both classes of shares is
December 1, 2020. At maturity, the holders of the Preferred Shares
will be entitled to the value of the Company, up to the face amount
of the Preferred Shares, in priority to the holders of the Class A
Shares. Holders of the Class A Shares will receive the remaining
value of the Company.

The confirmation of the rating on the Preferred Shares at Pfd-4
(high) is based on the downside protection available and its
performance, the Preferred Share dividend increase, and other
Portfolio metrics discussed above. The main constraints on the
rating are (1) the reliance on the Portfolio manager to generate
additional income through methods such as option writing, (2) the
stated monthly cash distributions to holders of the Class A shares
and (3) the unhedged portion of the USD-denominated Portfolio that
exposes the Portfolio to foreign currency risk.

Notes: All figures are in Canadian dollars unless otherwise noted.


FIRST RIVER: Taps Akerman as Legal Counsel
------------------------------------------
First River Energy, LLC seeks approval from the U.S. Bankruptcy
Court for the Western District of Texas to hire Akerman LLP as its
legal counsel.

The firm will advise the Debtor regarding its duties under the
Bankruptcy Code; negotiate transactions and prepare any necessary
documentation; commence litigation to protect its assets; and
provide other legal services related to its Chapter 11 case.

The primary attorneys and paralegal who will be representing the
Debtor and their hourly rates are:

     David Parham             $650     Partner
     John Mitchell            $570     Partner
     Esther McKean            $475     Partner
     Katherine Fackler        $360     Partner
     Amy Leitch               $360     Associate
     Scott Lawrence           $295     Associate
     Janice Patton-Brooks     $185     Paralegal

Akerman received a retainer in the sum of $287,561.19 to cover the
filing fee and legal fees and expenses.

David Parham, Esq., a partner at Akerman, disclosed in a court
filing that he and his firm are "disinterested person" as defined
in section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     David W. Parham, Esq.
     John E. Mitchell, Esq.
     Scott D. Lawrence, Esq.
     Akerman LLP
     2001 Ross Avenue, Suite 3600
     Dallas, TX 75201
     Phone: (214) 720-4300
     Fax: (214) 981-9339
     Email: david.parham@akerman.com
     Email: john.mitchell@akerman.com
     Email: scott.lawrence@akerman.com

                     About First River Energy

Based in San Antonio, Texas, First River Energy, LLC --
http://www.firstriverenergy.com/-- is engaged in the oil and gas
extraction business.  

First River Energy filed a Chapter 11 petition (Bankr. D. Del. Case
No. 18-10080) on Jan. 12, 2018.  In its petition signed by CEO
Deborah Kryak, the Debtor estimated total assets and debt between
$10 million and $50 million.  

The Debtor hired  Akerman LLP as its legal counsel and Donlin,
Recano & Company, Inc., as claims and noticing agent.


FIRSTENERGY NUCLEAR: S&P Cuts Senior Unsecured Notes Rating to 'C'
------------------------------------------------------------------
S&P Global Ratings said that it corrected its issue-level ratings
on three tranches of FirstEnergy Nuclear Generation LLC and
FirstEnergy Generation LLC's senior unsecured notes by lowering
them to 'C' from 'CCC+' and by revising the recovery ratings on the
debt to '6' (0%-10%; rounded estimate: 5%) from '1'.

S&P said, "The rating error occurred on Jan. 31, 2018, when we
lowered the recovery rating on unsecured obligations of FirstEnergy
Solutions and its subsidiaries to 'C' from 'CCC-' and revised the
recovery rating on those issuances to '6' from '4'. At the time, we
made no changes to the negative outlook or issuer credit rating.
While the issuances in question were rated in the investment grade
category, they were remarketed, losing security in the process.

"We incorrectly published the issue-level ratings on the tranches
listed below as 'CCC+' with a '1' recovery rating. These tranches
are senior unsecured obligations, not senior secured obligations
and are therefore rated 'C' with a '6' recovery rating."

  Ratings List

  FirstEnergy Solutions Corp.
   Corporate Credit Rating                CCC-/Negative/--
  
  Downgraded; Recovery Expectations Revised
                                          To              From
  FirstEnergy Generation LLC
  FirstEnergy Nuclear Generation LLC
   Senior Unsecured                       C               CCC+
    Recovery Rating                       6(5%)           1(95%)


FLEXI-VAN LEASING: Moody's Affirms B3 Corporate Family Rating
-------------------------------------------------------------
Moody's Investors Service affirmed the B3 Corporate Family Rating
of container chassis equipment provider Flexi-Van Leasing, Inc. and
assigned a Caa1 rating to the new $300 million senior secured
second lien notes due 2023 that the company plans to issue.
Together with about $100 million to be drawn from a new $185
million asset-based credit facility, the proceeds of the new notes
will be used to repay the amount outstanding under Flexi-Van's
existing asset-based credit facility and the $265 million of senior
unsecured notes due August 2018. The ratings outlook is stable.

RATINGS RATIONALE

The affirmation of the B3 CFR considers Flexi-Van's high financial
leverage, moderate operating margins and risks related to contract
renewals and weakening containerized cargo in in a cyclical
downturn. Moody's expects debt/EBITDA to decrease to approximately
6 times at year-end 2018, from 7 times at year-end 2017, as the
company benefits from currently robust growth in container import
and export volumes as well as a recent contract win. Operating
margins are likely to widen towards 10% in 2018 driven by ongoing
implementation of measures to manage maintenance and repair
expenses and steady improvements in fleet utilization, continuing a
recovery from margins at only mid-single digit levels in 2016.

Flexi-Van is one of three main providers of chassis equipment for
the transportation of containerized cargo. Access to port
terminals, capital to build a sizeable fleet and the efficiency of
the pool structure establish barriers to enter this market.
Nonetheless, Flexi-Van has to contend with several new entrants
that offer new chassis equipment, although at a relatively modest
scale at this time.

Flexi-Van's liquidity is adequate. Moody's expects that free cash
flow, including proceeds from the sale of used equipment, is
modestly positive in 2018 and there are no material debt maturities
in the next two years, assuming Flexi-Van completes the proposed
refinancing as planned.

The stable outlook reflects Moody's expectation of continuing
growth in chassis demand, which, along with Flexi-Van's recent
contract win, will cause a material increase in the company's
revenue base.

The new $300 million senior secured second lien notes due 2023 are
rated Caa1, one notch below the B3 CFR. This reflects the higher
ranking in Moody's Loss Given Default analysis of the $185 million
revolving credit facility that has a first lien claim on
substantially all of the company's assets.

The ratings could be upgraded if Flexi-Van improves its (adjusted)
operating margins to at least 10% and demonstrates consistently
positive net cash flow (inclusive of proceeds from the sale of used
equipment) such that (RCF-capex)/debt is about 2.5%. Debt/EBITDA of
5.5 times and FFO+interest/interest of 2.5 times would also be
supportive of a ratings upgrade.

The ratings could be downgraded if margins decrease well below 10%
due to an inability to effectively manage maintenance and repair
expenses, contract losses or otherwise. The ratings could also be
downgraded if debt/EBITDA exceeds 6.5 times, if
FFO+interest/interest is less than 2 times, or if Flexi-Van is
unable to generate positive free cash flow (inclusive of proceeds
from the sale of used equipment).

Affirmations:

Issuer: Flexi-Van Leasing, Inc.

-- Corporate Family Rating, Affirmed B3

-- Probability of Default Rating, Affirmed B3-PD

Assignments:

Issuer: Flexi-Van Leasing, Inc.

-- Senior Secured Regular Bond/Debenture, Assigned Caa1 (LGD4)

Outlook Actions:

Issuer: Flexi-Van Leasing, Inc.

-- Outlook, Changed To Stable From Negative

The principal methodology used in these ratings was Global Surface
Transportation and Logistics Companies published in May 2017.

Flexi-Van Leasing, Inc., headquartered in Kenilworth, NJ, is one of
three main providers of chassis rental equipment to the intermodal
transportation industry in North America, with a total chassis
fleet of approximately 125,000 units. Flexi-Van Leasing, Inc. is a
private company, owned indirectly by Mr. David H. Murdock, Chairman
and CEO of the company.


FLEXI-VAN LEASING: S&P Alters Outlook on 'CCC' CCR to Positive
--------------------------------------------------------------
Flexi-Van Leasing Inc. is planning to refinance its existing
asset-based lending (ABL) facility and unsecured notes with the
proceeds from a new $185 million ABL facility and $300 million of
second-lien notes.

Most of the company's existing debt will mature by August 2018. The
proposed refinancing would extend the company's debt maturities and
improve its liquidity position.

S&P Global Ratings revised the CreditWatch implications of its
'CCC' corporate credit rating on Flexi-Van Leasing Inc. to positive
from developing, where we placed it on June 15, 2017.

S&P said, "At the same time, we assigned our 'B-' issue-level
rating and '3' recovery rating to the company's proposed $300
million second-lien notes. The '3' recovery rating indicates our
expectation for meaningful (50%-70%; rounded estimate: 50%)
recovery in the event of a default.

"We assigned our 'B-' issue-level rating to the second-lien notes
because we expect to raise our corporate credit rating on Flexi-Van
to 'B-' following the successful completion of its refinancing.

"The revision of our CreditWatch on Flexi-Van to positive from
developing reflects our belief that the company will no longer face
any meaningful near-term debt maturities after it refinances its
existing ABL facility and unsecured notes. The company plans to
enter into a new $185 million ABL facility and issue $300 million
of second-lien notes to refinance its existing ABL facility and
senior unsecured notes due 2018.

"We expect to resolve the CreditWatch positive placement on
Flexi-Van when the company's completes its proposed refinancing. At
that time, we expect to raise our corporate credit rating on the
company to 'B-' from 'CCC' and assign a stable outlook."


FLORIDA FOLDER: Proposes Online Auction of Personal Property
------------------------------------------------------------
Florida Folder Service, Inc., asks the U.S. Bankruptcy Court for
the Middle District of Florida to authorize the sale of various
personal property assets at online auction consistent with the
Auction Services Agreement of Thomas Industries, Inc.

The listed personal property items secure two notes, one in the
amount of $115,042 held by Fifth Third Bank which is also the Cash
Collateral Lender, and the other is held by Seacoast National Bank
which is believed to have a current balance around $194,211 after
the offset of recently foreclosed non-debtor parcel of real
estate.

Under the Auction Services Agreement, Thomas has guaranteed a sale
of the equipment that will net the DIP at least $375,000, well in
access of the secured liens.  Thomas proposes to conduct an online
auction within 60 calendar days from the date of the entry of the
order approving the Motion.  The auction date and time will be
mutually agreed upon by all parties involved.

The auction will be conducted online.  Inspection dates and times
will be provided beginning two weeks prior to the scheduled
auctions to allow prospective bidders the opportunity to view the
property and conduct their own due diligence.  The property will be
sold to the highest and best bidders.  Thomas has guaranteed a net
payment to the Debtor of at least $375,000.  The next $25,000 in
auction proceeds, above and beyond $375,000, will be retained by
Thomas for costs associated with advertising and conducting the
auction.  Any auction proceeds above and beyond $400,000 will be
split 90% to the Debtor and 10% to Thomas.

The property is sold "as is" condition with all faults and defects,
with no representations, guaranties or warranties express or
implied.  The highest bidders will take title free and clear of all
liens and monetary encumbrances, and both secured creditors' lien
will attach to the proceeds of sale to the same extent as to the
assets.

A copy of the Service Agreement and the list of the personal
property to be sold attached to the Motion is available for free
at:

    http://bankrupt.com/misc/Florida_Folder_50_Sales.pdf

The Auctioneer:

          Irina Lekhmus, CFO
          THOMAS INDUSTRIES, INC.
          2414 Boston Post Road
          Guilford, CT 06437
          Telephone: (203) 458-0709 Ext 108
          Facsimile: (203) 458-0727
          E-mail: irina@thomasauction.com

                    - and -

          Thomas Gagliardi, President
          THOMAS INDUSTRIES, INC.
          2414 Boston Post Road
          Guilford, Connecticut 06437
          Telephone: (203) 458-0709 Ext 101
          Facsimile: (203) 458-0727
          E-mail: tomjr@thomasauction.com

The Creditors:

          FIFTH THIRD BANK
          c/o Patricia L. Hill
          Graydon Head & Ritchey, LLP
          7759 University Drive, Suite A
          West Chester, Oh 45069-6578

          SEACOAST NATIONAL BANK
          c/o Kenneth G.M. Mather
          Gunster, Yoakley & Stewart, P.A.
          200 South Orange Ave., Suite 1400
          Orlando, FL 32801-3438

                 About Florida Folder Service

Florida Folder Service, Inc., a/k/a Brochure Displays, a/k/a
Digital Press -- http://brochuredisplays.com/-- provides
professional brochure distribution at hundreds of motels, hotels
and other tourism related businesses in prime markets throughout
the southeast, including Florida, Georgia, Tennessee and the
Carolinas.  Its Florida markets include the major resort
destinations of Daytona Beach, St. Augustine, Jacksonville and New
Smyrna Beach.

Florida Folder Service filed a Chapter 11 petition (Bankr. M.D.
Fla. Case No. 17-03869) on Nov. 6, 2017.  In the petition signed by
Terry McDonough, president, the Debtor disclosed $843,347 in assets
and $1,040,000 in liabilities.

The case is assigned to Judge Jerry A. Funk.

The Debtor is represented by Jason A Burgess, Esq., at the Law
Offices of Jason A. Burgess, LLC.


GADFLY ENTERPRISES: U.S. Trustee Unable to Appoint Committee
------------------------------------------------------------
The Office of the U.S. Trustee on Feb. 6 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Gadfly Enterprises Inc., d/b/a
Super Cleaners, USA.

                     About Gadfly Enterprises
                     d/b/a Super Cleaners USA

Gadfly Enterprises Inc., doing business as Super Cleaners USA, is a
family-owned business that provides drycleaning and laundry
services serving Maryland and Washington, D.C. for over 20 years.
Super Cleaners -- https://supercleanersusa.com/ -- also offers
tailoring & alterations, shoes & leather and household items
cleaning.  

Gadfly Enterprises filed a Chapter 11 petition (Court + Case No.
18-10270), on Jan. 8, 2018.  The petition was signed by James M.
Kanski, president.  The Debtor is represented by Augustus T Curtis,
Esq., at Cohen, Baldinger & Greenfeld, LLC.  At the time of filing,
the Debtor had $62,685 in total assets and $1.19 million in total
liabilities.


GALVESTON BAY: Obtains Court Approval of Disclosure Statement
-------------------------------------------------------------
Judge Craig A. Gargotta of the U.S. Bankruptcy Court for the
Western District of Texas approved the disclosure statement
explaining Galveston Bay Properties LLC's plan.

At the Court's direction, the Debtor filed a disclosure statement
conforming to the edits and revisions consistent with the Order and
as announced on the record during the December 19 disclosure
statement hearing.

A full-text copy of the First Amended Disclosure Statement dated
Dec. 21, 2017, is available at:

          http://bankrupt.com/misc/txwb17-51905-124.pdf

                    About Galveston Bay

Headquartered in New Braunfels, Texas, Galveston Bay Properties LLC
is an oil and gas extraction business.  Galveston Bay Properties
filed for Chapter 11 bankruptcy protection (Bankr. W.D. Tex. Case
No. 17-51905) on Aug. 9, 2017, estimating its assets at between $10
million and $50 million and debt at between $1 million and $10
million. The petition was signed by Dan Polk, manager.

Judge Craig A. Gargotta presides over the case.

Kell C. Mercer, Esq., at Kell C. Mercer, PC, serves as the Debtor's
bankruptcy counsel.


GRANTIERRA ENERGY: S&P Assigns B+ CCR & Rates $300M Notes B+
------------------------------------------------------------
Canada-based oil and natural gas exploration and production company
GranTierra Energy Inc. is planning to issue $300 million in senior
unsecured notes.

S&P Global Ratings assigned its 'B+' long-term corporate credit
ratingto GranTierra Energy Ltd. The outlook is stable.

At the same time, S&P assigned its 'B+' issue-level rating on the
proposed $300 million senior unsecured notes due 2025, to be issued
by Gran Tierra Energy International Holdings Ltd (GTEIH).

The ratings on GranTierra reflect its small reserve base and
production measures, aggressive capital spending plan, and lack of
geographic diversification because the majority of the company's
operations are in Colombia. S&P's assessment of the company's high
operating netbacks, its expected low leverage, and its growth
prospects with regard to production and reserves, partially offset
its weaknesses.

The stable outlook reflects S&P's view that the company's
operations will garner increased oil production and reserves due to
the company's recent field acquisition. It also reflects S&P's
expectation that the company's leverage will remain below 2x and
that it will maintain its strong liquidity in the next 12-18
months.


H N HINCKLEY: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: H N Hinckley & Sons, Inc.
        61 Beach Road
        Vineyard Haven, MA 02568

Business Description: H N Hinckley & Sons, Inc., headquartered in
                      Vineyard Haven, Massachusetts, is a dealer
                      of building material and supplies.

Chapter 11 Petition Date: February 6, 2018

Case No.: 18-10398

Court: United States Bankruptcy Court
       District of Massachusetts (Boston)

Judge: Hon. Joan N. Feeney

Debtor's Counsel: Adam J. Ruttenberg, Esq.
                  POSTERNAK BLANKSTEIN & LUND LLP
                  Prudential Tower
                  800 Boylston Street
                  Boston, MA 02199
                  Tel: (617) 973-6100
                  Fax: (617) 367-2315
                  E-mail: aruttenberg@pbl.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Wayne M. Guyther III, president.

The Debtor did not file a list of its 20 largest unsecured
creditors together with the petition.

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

          http://bankrupt.com/misc/mab18-10398.pdf



HAHN HOTELS: Disclosure Statement Has Conditional Approval
----------------------------------------------------------
Judge Brenda T. Rhoades of the U.S. Bankruptcy Court for the
Eastern District of Texas, Sherman Division, approved the
disclosure statement explaining Hahn Hotels of Sulphur Springs,
LLC's plan of reorganization as containing "adequate information"
within the meaning of Section 1125 of the Bankruptcy Code, and, to
the extent not withdrawn, settled, or resolved, overruled any
objections to approval of the Disclosure Statement.

At Judge Rhoades' direction, the Debtor made technical, conforming,
and other non-material changes to the Disclosure Statement prior to
its transmittal to holders of claims and equity interests without
the necessity of any further order of the Court.

A full-text copy of the First Amended Disclosure Statement with
technical modifications is available at:

           http://bankrupt.com/misc/txeb17-40947-306.pdf

                        About Hahn Hotels

Headquartered in Sulphur Springs, Texas, Hahn Hotels of Sulphur
Springs, LLC, owns the La Quinta Inns and Suites, which provides
hotel accommodations for business and leisure travelers across the
United States, Canada, and Mexico.

Hahn Hotels of Sulphur Springs, LLC, along with its affiliates,
including Hahn Investments, LLC, sought Chapter 11 protection
(Bankr. E.D. Tex. Lead Case No. 17-40947) on May 1, 2017.  

In the petitions signed by Dante Hahn, president, Hahn Hotels of
Sulphur estimated its assets and liabilities between $1 million and
$10 million, and  Hahn Investments estimated its assets and
liabilities between $10 million and $50 million.

Judge Brenda T. Rhoades presides over the cases.

Jessica Leigh Voyce Lewis, Esq., and Judith W. Ross, Esq., at The
Law Offices of Judith W. Ross and Eric Soderlund, Esq., who has an
office in Dallas, Texas, serve as the Debtors' bankruptcy counsel.


HARB PROPERTIES: Taps Susan M. Gray as Legal Counsel
----------------------------------------------------
Harb Properties, LLC, seeks approval from the U.S. Bankruptcy Court
for the Northern District of Ohio to hire Susan M. Gray Law
Offices, Inc. as its legal counsel.

The firm will advise the Debtor regarding its duties under the
Bankruptcy Code; assist in the preparation of a bankruptcy plan;
and provide other legal services related to its Chapter 11 case.

Susan Gray, Esq., disclosed in a court filing that she and her firm
do not hold or represent any interest adverse to the Debtor's
estate.

The firm can be reached through:

     Susan M. Gray, Esq.
     Ohio Savings Bank Building
     22255 Center Ridge Road, Suite 210
     Rocky River, OH 44116
     Phone: (440) 331-3949
     Fax: (440) 331-8160
     E-mail: smgray@smgraylaw.com

                      About Harb Properties

Harb Properties, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ohio Case No. 18-10436) on Jan. 26,
2018.  Judge Jessica E. Price Smith presides over the case.


HBC HOLDINGS: Moody's Withdraws Caa2 Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service has withdrawn the ratings of HBC Holdings
LLC, including its Caa2 Corporate Family Rating (CFR), Caa2-PD
Probability of Default Rating (PDR), Caa1 rating on the first lien
senior secured term loan and its stable outlook.

Outlook Actions:

Issuer: HBC Holdings LLC

-- Outlook, Changed To Rating Withdrawn From Stable

Withdrawals:

Issuer: HBC Holdings LLC

-- Probability of Default Rating, Withdrawn, previously rated
    Caa2-PD

-- Corporate Family Rating, Withdrawn, previously rated Caa2

-- Senior Secured Bank Credit Facility, Withdrawn, previously
    rated Caa1 (LGD3)

RATINGS RATIONALE

Moody's has decided to withdraw the ratings for its own business
reasons.

HBC Holdings LLC (d.b.a. "World and Main"), founded in 1971 and
headquartered in Cranbury, New Jersey, is a multi-channel
distributor of hardware, plumbing and household products.


HELP KIDS: Case Summary & Unsecured Creditor
--------------------------------------------
Debtor: Help Kids, Inc.
          dba Valley Oaks Mobile Home Park
        PO Box 8219
        Calabasas, CA 91372

Type of Business: Help Kids is the fee simple owner of a mobile
                  home park consisting of 20 mobile home spaces
                  and one family residence located at 1628 - 1638
                  Inyo Street, Delano, CA 93215.  The Property is
                  valued by the Company at $1.15 million.

Chapter 11 Petition Date: February 6, 2018

Court: United States Bankruptcy Court
       Eastern District of California (Fresno)

Case No.: 18-10390

Judge: Hon. Rene Lastreto II

Debtor's Counsel: Leonard K. Welsh, Esq.
                  LAW OFFICE OF LEONARD K. WELSH
                  4550 California Ave 2nd Fl
                  Bakersfield, CA 93309
                  Tel: 661-328-5328

Total Assets: $1.25 million

Total Liabilities: $849,763

The petition was signed by Doris L. Bealer, president.

The Debtor lists Doris L. Bealer as its sole unsecured creditor
holding a claim of $24,000.

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

        http://bankrupt.com/misc/caeb18-10390.pdf


HOVNANIAN ENTERPRISES: Moody's Hikes Family Rating to Caa1
----------------------------------------------------------
Moody's Investors Service upgraded Hovnanian Enterprises, Inc.
Corporate Family Rating to Caa1 from Caa2 as the company has made
strides in reducing its near-to-midterm refinancing risk and
Moody's believes that Hovnanian generates sufficient unleveraged
free cash flow to cover its interest burden in the next 12-18
months. The company's speculative-grade liquidity rating was
upgraded to SGL-3 from SGL-4 to indicate the improvement in its
liquidity profile.

In conjunction with this rating action, Moody's also downgraded the
company's Probability of Default to Ca-PD/LD in order to indicate
the distressed exchange that took place among the company and the
holders of its 7% Senior Notes due 2019 and 8% Senior Notes due
2019. Moody's anticipate to upgrade the Probability of Default
Rating to Caa1 shortly.

Moody's also assigned Caa3 ratings to the K. Hovnanian Enterprises,
Inc.'s (K.Hovnanian) new unsecured notes: 13.5% $90.5MM due 2026
and 5% $90.1MM due 2040. The notes, along with cash on hand, will
be used to execute the distressed change.

The following rating actions were taken:

Downgrades:

Issuer: Hovnanian Enterprises, Inc.

-- Probability of Default Rating, Downgraded to Ca-PD/LD from
    Caa1-PD

Upgrades:

Issuer: Hovnanian Enterprises, Inc.

-- Speculative Grade Liquidity Rating, Upgraded to SGL-3 from
    SGL-4

-- Corporate Family Rating, Upgraded to Caa1 from Caa2

Issuer: K. Hovnanian Enterprises, Inc.

-- Senior Secured Regular Bond/Debenture, Upgraded to B2 (LGD2)
    from B3 (LGD3)

Assignments:

Issuer: K. Hovnanian Enterprises, Inc.

-- Senior Unsecured Bank Credit Facility, Assigned Caa3 (LGD6)

-- Senior Unsecured Regular Bond/Debenture, Assigned Caa3 (LGD6)

Affirmations:

Issuer: Hovnanian Enterprises, Inc.

-- Pref. Stock Preferred Stock, Affirmed Ca (LGD6)

Issuer: K. Hovnanian Enterprises, Inc.

-- Senior Secured Bank Credit Facility, Affirmed B2 (LGD2)

-- Senior Secured Regular Bond/Debenture, Affirmed Caa2 (LGD4)

-- Senior Unsecured Regular Bond/Debenture due 2019, Affirmed
    Caa3 (LGD6)

Outlook Actions:

Issuer: Hovnanian Enterprises, Inc.

-- Outlook, Remains Stable

Issuer: K. Hovnanian Enterprises, Inc.

-- Outlook, Remains Stable

RATINGS RATIONALE

The upgrade of the Corporate Family Rating to Caa1 from Caa2
recognizes Hovnanian's significantly improved debt maturity profile
with the nearest significant maturity coming up in 2021.
Furthermore, Hovnanian is anticipated to generate sufficient
unleveraged cash flow, as it can pair back land purchases if need
be, in 2018 to cover its interest payments. Homebuilding EBIT
interest coverage is anticipated to be between 1x-1.4x in 2018.

At the same time, the rating continues to be pressured by the
reduction in the revenue base and debt to capitalization in excess
of 100%. However, despite declining revenues and community count,
the company has shown contracts per community increase. For the
4Q2017, they were up 10% YoY.

The Speculative-Grade Liquidity (SGL) Rating of SGL-3 reflects
Hovnanian's adequate liquidity profile over the next 12 to 18
months.

The SGL Rating takes into consideration internal liquidity,
external liquidity, covenant compliance, and alternate liquidity.
Hovnanian's internal liquidity is supported by its $463 million of
cash on hand as of October 31, 2017. For 2018, Moody's anticipate
the cash balance to be around $213 million. The company has a $125
million revolving credit facility and Moody's anticipate Hovnanian
to have about $52 million of borrowings outstanding under it.
Hovnanian is not subject to any financial maintenance covenants.
Alternate sources of liquidity are limited.

The stable outlook is predicated on the successful completion of
this transaction.

The ratings could be upgraded if the company's debt to
capitalization improves to below 80%, interest coverage improves to
above 1.5x, and its liquidity shows improvement as well.

The principal methodology used in these ratings was Homebuilding
And Property Development Industry published in January 2018.

Established in 1959 and headquartered in Red Bank, New Jersey,
Hovnanian Enterprises, Inc. ("Hovnanian") designs, constructs and
markets single-family detached homes and attached condominium
apartments and townhouses. Homebuilding revenues for the last
twelve months ended Oct 31, 2017 were approximately $1.8 billion.


HOVNANIAN ENTERPRISES: S&P Raises CCR to 'CCC+', Outlook Stable
---------------------------------------------------------------
U.S.-based residential homebuilder Hovnanian Enterprises Inc. has
completed a debt exchange that extends its maturity profile. In
addition, the company is refinancing some existing debt with a new
unsecured term loan.

S&P Global Ratings raised its corporate credit rating on Red Bank,
N.J.-based Hovnanian Enterprises Inc. to 'CCC+' from 'SD'
(selective default). The rating outlook is stable.

S&P said, "We also assigned our 'CCC-' issue-level ratings on the
newly exchanged $90.6 million 13.5% unsecured notes due 2026 and
the $90.1 million 5% unsecured notes due 2040. The recovery rating
is '6', indicating our expectation for negligible (0%-10%; rounded
estimate 0%) recovery in the event of payment default.

"At the same time, we also assigned our 'CCC-' issue-level rating
to K. Hovnanian Enterprises Inc.'s newly issued $212.5 million
senior unsecured term loan facility due 2027, which consists of
$132.5 million term loan and $80 million delayed draw term loan.
The recovery rating is '6', indicating our expectation for
negligible (0%-10%; rounded estimate 0%) recovery in the event of
payment default.

"In addition, we affirmed our 'B' issue-level ratings on K.
Hovnanian's $75 million secured term loan due 2019. The recovery
rating remains '1', indicating our expectation for very high
(90%-100%; rounded estimate 95%) recovery in the event of payment
default.

"We affirmed our 'CCC+' issue-level ratings on the company's $440
million senior secured notes due 2022 and $400 million senior
secured notes due 2024. The recovery rating remains '4', indicating
our expectation for average (30%-50%; rounded estimate 30%)
recovery in the event of payment default.

"We also affirm our 'CCC' issue-level ratings on the company's $75
million 9.5% first-lien notes due 2020 and both the 2% and 5%
senior secured notes due 2021. The recovery rating remains '5',
indicating our expectation for modest (10%-30%; rounded estimate
20%) recovery in the event of payment default.

"In addition, we affirmed our 'D' issue-level rating on the
company's 8% senior notes due 2019 because the new notes contain
covenants preventing the company from making any interest payments
before maturity. The recovery rating on the 8% senior notes is
unchanged at '6', indicating our expectation for negligible
(0%-10%) recovery in the event of payment default.

"The upgrade of Hovnanian reflects our reassessment following a
refinancing transaction in which the company completed a partial
debt exchange, whereby holders of about $170 million of its 8%
senior notes due 2019 exchanged their debt for $90.6 million 13.5%
unsecured notes due 2026, $90.1 million 5% unsecured notes due
2040, and $26.5 million in cash. We viewed the exchange as
distressed since the new securities' maturities extend beyond the
original securities and because we believed there was a realistic
possibility of a conventional default. In addition to the exchange
offer, the company also refinanced its 7% senior notes with a newly
issued $212.5 million senior unsecured term loan facility due 2027.
Lastly, the company received a commitment for a $125 million senior
secured revolver to be made available in September 2018 to repay
the $75 million super priority term loan due August 2019. As a
result of these transactions, the company has extended the
company's debt maturities. However, overall adjusted debt levels
have not changed materially. As a result, the 'CCC+' rating
reflects our view that the company's current capital structure
remains unsustainable without material improvements in performance.


"The stable rating outlook reflects our expectation that the U.S.
housing market recovery will continue. We anticipate that, over the
next 24 months, Hovnanian's EBITDA will remain in a range between
$155 million and $205 million, with high adjusted debt leverage
above 8x. In addition, we expect that EBITDA interest coverage will
remain above 1x while the company maintains an adequate liquidity
profile.

"We would lower the rating within the next 12 months if operating
results deteriorate such that we begin to see the company burn
through its cash position, causing liquidity to become strained
such that we believe the company would have trouble meeting its
upcoming obligations. We could also lower the rating should the
company take steps to execute another debt exchange."

An upgrade is unlikely over the next 12 months given the company's
high leverage. A positive rating action would require debt to
EBITDA in the 6x area, with EBITDA interest coverage above 1.5x,
which could occur if operating results are better than S&P expects,
such as debt decreasing in excess of 45% or EBITDA growing close to
90%.


HYDROSCIENCE TECHNOLOGIES: Sale Proceeds to Fund Plan
-----------------------------------------------------
Hydroscience Technologies, Inc., and Solid Seismic, LLC, filed a
plan of reorganization that incorporates a Plan Settlement, which
generally provides for the sale of substantially all the Debtors'
Assets, including their intellectual property and any related
equipment, for $3.0 million in cash at closing.

The $271,890 outstanding account receivable from Omniquest and all
work in progress, however, will remain property of the Debtors'
Estate.  The Plan Settlement also involves the waiver, reduction,
subordination, and/or disallowance of other claims to provide for a
greater recovery to general unsecured creditors.

Class 4 - General Unsecured Claims, estimated to total $3.3
million, are impaired.  Each holder of an Allowed General Unsecured
Claim shall receive a Pro Rata Share of the Net Liquidating Trust
Assets after the satisfaction of, or allocation of an appropriate
Reserve for, the following: (i) Allowed Administrative Expense
Claims, (ii) Allowed Priority Tax Claims, (iii) Allowed Claims in
Classes 1 through 3, and (iv) Trust Expenses.  The timing of the
distribution(s) of the Net Liquidating Trust Assets will be at the
discretion of the Liquidating Trustee except to the extent limited
by the express terms of the Plan, the Liquidating Trust Agreement,
or applicable law.

To fund the Plan, the Debtors have agreed to sell the Purchased
Assets to Purchaser in exchange for (a) Cash in the amount of $3.0
million on the Closing Date of the sale, (b) the resolution of the
Resolved Claims through Class 5 of the Plan, pursuant to which,
except for the $500,000 Tokio Marine Payment, the approximately
$11.29 million aggregate total of the Resolved Claims are not
entitled to any distribution until all Class 4 General Unsecured
Claims are paid in full, and (c) the waiver and release by the
Debtors of any Claims against MHI, MII, Seamap, and Tokio Marine.

A full-text copy of the Disclosure Statement dated Dec. 20, 2017,
is available at:

         http://bankrupt.com/misc/txnb17-41442-160.pdf

                About Hydroscience Technologies

Established in 1996, Hydroscience Technologies, Inc. --
http://www.seamux.com-- designs, manufactures, and delivers
customized systems for various seismic applications for the
commercial, government, and education agencies.

In 2011, Solid Seismic, LLC, was formed to expedite and focus on
product development, including solid cable and sensor technology.
HTI owns all of the intellectual property of Solid Seismic with its
70% equity interest in the company.

HTI and Solid Seismic sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case Nos. 17-41442 and 17-41444)
on April 3, 2017.  The petitions were signed by Fred Woodland,
manager of Solid Seismic.

At the time of the filing, HTI estimated its assets at $10 million
to $50 million and debt at $1 million to $10 million.  Solid
Seismic estimated its assets at $1 million to $10 million and debt
at $10 million to $50 million.

The cases are jointly administered before Judge Russell F. Nelms.

The Debtors are represented by Jeff P. Prostok, Esq., and Suzanne
K. Rosen, Esq., at Forshey & Prostok LLP, in Fort Worth, Texas.

No trustee, examiner or creditors' committee has been appointed.

On Dec. 20, 2017, the Debtors' filed their Joint Chapter 11 Plan.


IBEX LLC: Wants Access to Cash Collateral Through March 31
----------------------------------------------------------
IBEX, LLC, asks the U.S. Bankruptcy Court for the District of
Colorado to authorize its continued use of cash collateral for the
period of February 1, 2018 through March 31, 2018.

The Court has previously authorized the Debtor's use of cash
collateral under Section 363 of the Bankruptcy Code through Jan.
31, 2018.

First National Bank of Pennsylvania asserts a claim in the
approximate amount of $2,357,569 against the Debtor, as of the
Petition Date. First National asserts that it has a valid,
perfected prepetition lien and security interest in substantially
all of the Debtor's assets, including all cash and cash equivalents
of the Debtor or proceeds thereof.  No other creditor has a secured
interest in the cash collateral.

The Debtor and First National Bank have agreed to a stipulated
order authorizing the Debtor's use of cash collateral. Under the
proposed stipulated order:

      A. The Debtor will be authorized to use cash collateral for
the period from Feb. 1, 2018 through March 31, 2018;

      B. First National Bank will be granted a replacement lien and
security interest upon the Debtor's post-petition assets with the
same priority and validity as First National Bank's prepetition
liens to the extent of the Debtor's postpetition use of the
proceeds of First National Bank's prepetition collateral;

      C. To the extent the Adequate Protection Liens prove to be
insufficient, First National Bank will be granted superpriority
administrative expense claims under section 507(b) of the
Bankruptcy Code;

      D. The Debtor will pay Lender $14,524 each month (by the 7th
of February and 7th of March) as additional adequate protection;

      E. The Debtor will provide First National Bank by the 20th of
each month: (a) a report disclosing the payments made to third
parties by Debtor and/or on behalf of Debtor for the previous
month; (b) a budget variance report, reporting actual expenditures
and identifying any variances from the Budget for the previous
month; (c) balance sheet; (d) profit and loss statement; and (e) an
accounts receivable aging report; and

      F. Any fees and expenses which are incurred or become due and
owing to Jensen Dulaney or Wadsworth Warner Conrardy will not be
paid until Bankruptcy Court approval.

The Debtor desires to use the post-petition proceeds from the
pre-petition accounts receivable to preserve and maintain its
business as a going concern. The Debtor believes that all of its
creditors, not just the First National Bank, will benefit from the
Debtor's continued operations and that any return to creditors will
be greater through continued operations and a reorganization under
Chapter 11 of the Bankruptcy Code than immediately ceasing
operations and winding up the Debtor's business under applicable
law. If the Court were to decline to allow the Debtor to use the
Cash Collateral, the Debtor and its creditors would suffer
immediate and irreparable harm.

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

             http://bankrupt.com/misc/cob17-16031-174.pdf

                       About Ibex, LLC

Ibex, LLC -- http://www.rightathome.net/colorado-springs-- is a
locally owned and operated franchise office of Right at Home Inc.,
a senior home care and staffing company providing care since 1995.
The Company's mission is to improve the quality of life for those
it serves by providing high quality in-home caregivers.  The
Company provides Alzheimer's care, companionship, physical
assistance and respite care services.

Ibex, LLC, based in Colorado Springs, CO, filed a Chapter 11
petition (Bankr. D. Colo. Case No. 17-16031) on June 29, 2017,
disclosing $111,012 in assets and $3.44 million in liabilities.
Peter Vanderbrouk, managing member, signed the petition.

The Hon. Elizabeth E. Brown presides over the case.  

David J. Warner, Esq., at Wadsworth Warner Conrardy, P.C., serves
as bankruptcy counsel to the Debtor.  Jensen Dulaney LLC is the
Debtor's special counsel.


IHEARTMEDIA INC: S&P Lowers CCR to SD on Missed Interest Payment
----------------------------------------------------------------
S&P Global Ratings lowered its corporate credit ratings on
Texas-based iHeartMedia Inc. and its iHeart subsidiary to 'SD'
(selective default) from 'CC'.

At the same time, S&P lowered its issue-level rating on iHeart's
12%/14% senior notes due 2021 to 'D' from 'C'. The '6' recovery
rating on the debt is unchanged, indicating its expectation for
negligible recovery of principal (0%-10%; rounded estimate: 0%) in
the event of a default. S&P also affirmed its other issue-level
ratings.

The downgrade follows iHeart's recent announcement that it did not
make a $106 million net cash interest payment on its 12%/14% senior
notes due 2021. The payment was due on Feb. 1.

S&P said, "We believe the company decided not to make the payment
in order to preserve cash and pressure bondholders. We believe the

nonpayment signals that a restructuring, either out of court or
through an in court reorganization, is imminent. We don't expect
the company to make the interest payment within the 30-day grace
period, although iHeart has sufficient cash on hand to do so."


INRETAIL CONSUMER: Moody's Alters Outlook to Neg. & Affirms Ba1 CFR
-------------------------------------------------------------------
Moody's Investors Service has changed InRetail Consumer outlook to
negative from stable. At the same time, Moody's has affirmed
InRetail's Ba1 corporate family rating and the Ba1 rating of its
senior unsecured notes due 2021.

Moody's rating action follows the announcement that InRetail
Consumer's drugstore subsidiary Inkafarma will acquire Quicorp S.A.
("Quicorp"), a leading pharmaceutical distributor and retailer in
the Andean region which operates under "Mi Farma" brand name, among
others, for a total amount of USD583 million. The transaction value
implies a multiple of 12 times Quicorp's EBITDA as fiscal year
ended December 2017.

The acquisition was funded through a combination of (i) a USD1
billion 1-year bridge loan to partially fund Quicorp's acquisition
and to perform a liability management at InRetail and Quicorp, and
(ii) a USD150 million equity contribution from group of private
investors led by Nexus Group, which will result in a 13% ownership
of the consolidated pharma operations.

Outlook Actions:

Issuer: InRetail Consumer

-- Outlook, Changed To Negative From Stable

Affirmations:

Issuer: InRetail Consumer

-- Corporate Family Rating, Affirmed Ba1

-- Senior Unsecured Regular Bond/Debenture, Affirmed Ba1

RATINGS RATIONALE

The change in outlook reflects the deterioration in InRetail
Consumer's credit metrics pro-forma for the acquisition of Quicorp.
Accordingly, Moody's expect leverage as measured by adjusted gross
debt to EBITDA will increase to 4.8 times in 2018 from 3.6x as of
the last twelve months ended September 2017. In addition, given
Quicorp's current low adjusted EBITDA margins, at 4.5% in 2017
compared to 8% for Inkafarma in the same period, Moody's anticipate
that the deleveraging process will be gradual, approaching 4x over
the next 24 months.

At the same time, although the consolidation of the new business
entails execution risks, the affirmation of the Ba1 rating
considers that the acquisition of Quicorp will allow InRetail to
expand the geographical footprint of its pharma business and will
boost its international expansion strategy. Following the
transaction InRetail will have an estimated 80% market share on
modern chains in Peru's drugstore market, which Moody's anticipate
will translate into increased bargain power and cost leverage
opportunities in the medium term. InRetail expects to capture
significant synergies per year allowing an expected vertical
integration with an combined platform and distribution network in
the pharma business

The Ba1 ratings continue to be supported by InRetail's leading
market position and highly recognized brands in the Peruvian
pharmaceutical and supermarket segments. The ratings are also based
on the company's limited exposure to demand volatility, given the
higher resilience of the food and pharmacy industries to potential
external shocks. In addition, the Ba1 ratings are supported by
Moody's expectation that InRetail will be able to continue
strengthening its business model within a favorable environment,
benefited from its exposure to an A3 rated country (Peru) with
solid macroeconomic fundamentals and a growing middle class with
increasing purchasing power. Finally, the ratings are supported by
the fact that InRetail Consumer is part of a large conglomerate and
diversified group, Intercorp Peru Ltd. (Ba2- positive), which also
owns one of the largest banks in the country, Interbank (Baa2-
positive).

On the other hand, the Ba1 ratings are mainly constrained by
InRetail Consumer's current high leverage for the rating category
and limited geographical diversification, with sales only oriented
to the Peruvian market. Moreover, the company faces foreign
currency volatility, given that 21% of its indebtedness after
hedges is denominated in US dollars while revenues are generated in
local currency. While the company should benefit from expected
growth in Peru over the next few years, Moody's notes that it faces
high competition from larger players, especially in the supermarket
business.

An upgrade is unlikely in the medium term given InRetail's negative
outlook. The stabilization of the outlook would require and
improvement in overall credit metrics and profitability.
Quantitatively, the outlook could be stabilized if adjusted
Debt/EBITDA (as measured by Moody's) declines towards 3.5x over the
next two years and EBITDA margins return to pre-acquisition levels.
Longer-term, factors that could lead to an upgrade include adjusted
Debt/EBITDA sustained below 3x and adjusted EBIT/Interest expense
maintained above 4 times on a sustained basis.

InRetail's ratings could be negatively impacted should the company
fails to reduce leverage to around 4x over the next 24 months. A
downgrade would also be triggered by a deterioration in credit
metrics due to additional operating difficulties or challenges in
the integration process with Quicorp and/or further sizable
acquisitions.

Founded in 1939, Quicorp is a leading pharmaceutical distributor
and retailer in the Andean region. The company operates in the
manufacturing, distribution, and retail pharma segments, and has
presence in Peru, Ecuador, Bolivia and Colombia. Headquartered in
Lima, Quicorp has over 11,000 employees and over S/ 4,000 million
in annual sales. The company operates over 1,000 pharmacies in Peru
and Bolivia, and has 12 distribution centers in three different
countries with over 90,000m2 of storage space.

Headquartered in Lima, Peru, InRetail Consumer encompasses two
large Peruvian subsidiaries: a supermarket, Supermercados Peruanos,
and a pharmacy chain, Inkafarma. Supermercados Peruanos --with 231
stores- represents 40% of revenues, while the Inkafarma --with
1.160 stores, covering close to 90% of the Peruvian territory-
generate the remaining 60%, as of September 30th 2017. In terms of
EBITDA, the supermarkets account for 54% of the total, while the
pharmacy business represents approximately the remaining 46%, in
the same period. At the same time, InRetail Consumer is part of a
large conglomerate and diversified group, Intercorp Peru Ltd.
(rated Ba2, positive), which also owns one of the largest banks in
Peru, Interbank (Baa2/ positive). As of the last twelve months
ended on September 2017, InRetail Consumer reports total revenues
of PEN 7.2 billion (approximately USD2.2 billion).

The principal methodology used in these ratings was Retail Industry
published in October 2015.


INTERNATIONAL PLACE: Case Summary & Top Unsecured Creditors
-----------------------------------------------------------
Debtor affiliates that filed voluntary petitions seeking relief
under Chapter 11 of the Bankruptcy Code:

     Debtor                                       Case No.
     ------                                       --------
     International Place at Tysons, LLC           18-10431
     8133 Leesburg Pike, Suite 100
     Vienna, VA 22182

     8133 Leesburg Pike, LLC                      18-10432
     8133 Leesburg Pike, Suite 100
     Vienna, VA 22182

Type of Business: International Place at Tysons and 8133 Leesburg
                  Pike, LLC listed their business as Single Asset
                  Real Estate (as defined in 11 U.S.C. Section
                  101(51B)).  Their principal assets are located
                  at 8133 Leesburg Pike, Suite 100 Vienna, VA
                  22182.

Chapter 11 Petition Date: February 6, 2018

Court: United States Bankruptcy Court
       Eastern District of Virginia (Alexandria)

Judge: Hon. Brian F. Kenney

Debtors' Counsel: Stephen E. Leach, Esq.
                  HIRSCHLER FLEISCHER, PC
                  8270 Greensboro Drive, Suite 700
                  Tysons Corner, VA 22102
                  Tel: 703-584-8902
                  Fax: 703-584-8901
                  E-mail: sleach@hf-law.com

Each Debtor's Estimated Assets: $10 million to $50 million

Each Debtor's Estimated Debt: $10 million to $50 million

The petitions were signed by Andrew S. Garrett, president of
manager.

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

          http://bankrupt.com/misc/vaeb18-10431.pdf
          http://bankrupt.com/misc/vaeb18-10432.pdf

A. List of International Place's 10 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Cooley, LLP                          Legal Fees          $126,399

Davis, Carter, Scott, Ltd.          Professional         $101,857
                                      Services

Walsh, Colucci,                      Legal Fees           $99,618
Lubeley, Walsh

Walter L. Phillips, Inc.            Professional          $97,304
                                      Services

M.J. Wells & Associates             Professional          $28,091
                                      Services

Parker Rodriquez, Inc.              Professional           $8,401
                                     Services

Russell & Russell                   Legal Fees             $7,484

Washington Gas                       Utilities             $2,358

Tyco Integrated Security, LLC       Trade Debt               $967

State Corporation Commission        Annual Fee                $50

B. List of 8133 Leesburg Pike's 15 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Christian Siding, LLC                 Trade Debt         $139,986

Chesapeake Systems, Inc.              Trade Debt          $72,465

Avison Young-Wash DC, LLC        Leasing Commissions      $67,835

United Bank                         Loan Interest         $62,840

Duc Tan Nguyen & Kimberly Vu     Commercial Lease         $41,000

Cushman & Wakefield of VA, Inc        Trade Debt          $29,019

Executive Maintenance, Inc.           Trade Debt          $21,586

Davis, Carter, Scott Ltd.             Trade Debt          $16,939

Lazer, Aptheker, Rosella & Yed        Legal Fees          $13,440

Davey Tree Expert Company             Trade Debt           $6,510

Grainger                              Trade Debt           $2,350

Advanced Elevator Corporation         Trade Debt           $1,527

Chem-Aqua, Inc.                       Trade Debt             $500

Waste Management                      Trade Debt             $349

I.T.C., Inc.                          Trade Debt             $318


JANE STREET: Moody's Affirms Ba3 Rating; Outlook Remains Stable
---------------------------------------------------------------
Moody's Investors Service affirmed Jane Street Group, LLC's Ba3
issuer rating and Ba3 senior secured first lien term loan rating
and maintained its stable outlook on both ratings.

Moody's rating action follows the company's indication that it
intends to upsize by $207.5 million its senior secured first lien
term loan and to commence marketing to re-price the loan. Jane
Street plans to use the net proceeds from the incremental debt
issuance for general corporate purposes, said Moody's.

Moody's has taken the following rating actions:

Jane Street Group, LLC:

* Issuer rating, affirmed at Ba3, Stable

* Senior secured first lien term loan, affirmed at Ba3, Stable

Outlook Actions:

* Outlook, remains Stable

RATINGS RATIONALE

In affirming Jane Street's Ba3 ratings with stable outlook, Moody's
considered the company's recent financial performance and the
impact of the incremental debt on its financial profile. Moody's
said Jane Street continues to have a strongly profitable track
record a deliberative risk management culture, with strong and
sustained oversight from a highly-engaged ownership and leadership
team, and healthy levels of maintained capital. Moody's said the
incremental debt will not significantly alter Jane Street's balance
sheet structure.

Moody's said Jane Street continues to have an inherently high level
of operational and market risk in its relatively narrow market
making activities, that could result in severe losses and a
deterioration in liquidity and funding in the event of a prominent
risk management failure. Jane Street is also reliant on prime
brokerage relationships to ensure the appropriate functioning of
its business activities, said Moody's.

The stable outlook on Jane Street's ratings is based on Moody's
assessment that Jane Street will continue to generate strong
profits and cash flows, and that its leaders will continue to place
a high emphasis on maintaining an effective risk management and
controls framework.

FACTORS THAT COULD LEAD TO AN UPGRADE

* Improved quality and diversity of profitability and cash flows
from development of lower-risk business activities

* Reduced reliance on key prime brokerage relationships

FACTORS THAT COULD LEAD TO A DOWNGRADE

* Increased risk appetite or significant failure in risk management
and controls

* Adverse changes in corporate culture or management quality

* Reduced profitability from changes in market or regulatory
environment

* Significant reduction in retained capital

The principal methodology used in these ratings was Securities
Industry Market Makers published in September 2017.


JBS USA: S&P Rates New $700M Unsec. Notes Due 2028 'B'
------------------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating to JBS USA
Lux S.A.'s and JBS USA Finance Inc.'s proposed $700 million senior
unsecured notes due 2028. S&P also assigned a '4' recovery rating
to the proposed notes, which indicates average recovery expectation
of 30%-50% (rounded estimate 30%) in the event of payment default.

JBS USA Lux will use the proceeds to pay for the full redemption of
its 2020 notes, extending debt maturities, and aiming to reduce the
cost of debt, with no increase in its leverage. The issue-level
rating on the proposed notes is the same as the corporate credit
ratings on JBS USA Lux and its parent company, JBS S.A. (both rated
B/Negative/--), because it's a senior unsecured
debt with around 30% recovery expectation. The '4' recovery rating
assigned on the proposed issuance is weaker than the '3' recovery
rating of all the other senior unsecured debts of JBS USA Lux that
we rate. This is because the other debts count on guarantees from
the parent company, JBS S.A., while the new issuance won't have
this guarantee. As a result, S&P believes the creditors of the new
notes would have lower recovery given that they would have no claim
against JBS S.A. in case of a payment default by JBS USA Lux.

Recovery Analysis

S&P said, "We have assigned a recovery rating of '4' to JBS USA
Lux's and JBS USA Finance's proposed senior unsecured notes, with
an average recovery (rounded estimate 30%)."

Key analytical factors:

- S&P's hypothetical default would occur in 2021 amid a
combination of high grain prices, shortages of livestock, high
cattle prices, weak demand for meat in general, and tighter access
to credit markets.

- S&P has valued JBS USA using a 6x multiple applied to its
projected emergence-level EBITDA of $1.3 billion, arriving at a
stressed enterprise value of $8.0 billion.

- Simulated default assumptions:

- Simulated year of default: 2021
- EBITDA at emergence: $1.3 billion

- EBITDA multiple: 6.0x

- Estimated gross EV: $7.9 billion

- Simplified waterfall:

   Net EV, after 5% of administrative expenses: $7.5 billion
   Collateral value available from restricted subsidiaries: $5.0
     billion
   Senior secured debt: $3.9 billion (including all the company's
     term loans)
   Senior unsecured debt: $3.6 billion (including all the
     company's senior notes, with the proposed new issuance
     prepaying the 2020 notes)
   Recovery expectations for secured debt: 95%
   Recovery expectations for unsecured debt guaranteed by JBS
     S.A.: 65%
   Recovery expectations for the proposed senior unsecured notes
    (no guarantee from JBS S.A.): rounded 30%

RATINGS LIST

JBS S.A.
  Corporate credit rating
   Global Scale                   B/Negative/--
   National Scale                 brBB+/Negative/--

JBS USA Lux S.A.
  Corporate credit rating         B/Negative/--

Ratings Assigned

JBS USA Lux S.A
JBS USA Finance Inc.
Senior unsecured                 B
Recovery rating                  4(30%)


JERUSALEM MISSIONARY: Taps Charles Tyler as Legal Counsel
---------------------------------------------------------
Jerusalem Missionary Baptist Church seeks approval from the U.S.
Bankruptcy Court for the Northern District of Ohio to hire the Law
Office of Charles Tyler, Sr. as its legal counsel.

The firm will advise the Debtor regarding its duties under the
Bankruptcy Code; prosecute any necessary litigation; and provide
other legal services related to its Chapter 11 case.

Charles Tyler, Sr., Esq., will charge an hourly fee of $200 for his
services.  Paralegals and other paraprofessionals will charge $60
per hour.  

The firm received a retainer in the sum of $7,000.

Tyler is "disinterested" as defined in section 101(14) of the
Bankruptcy Code, according to court filings.

The firm can be reached through:

     Charles Tyler, Sr., Esq.
     Law Office of Charles Tyler, Sr.
     66 S. Miller Road, Suite 304
     Fairlawn, OH 44333
     Tel: 330-665-0910
     Fax: 330-665-0718
     Email: charles.tyler@tylerlawoffice.com

             About Jerusalem Missionary Baptist Church

Jerusalem Missionary Baptist Church is a religious organization in
Akron, Ohio.  It is a fee simple owner of a church building located
at 1225 Vernon Odom Boulevard, Akron, Ohio, with an estimated value
of $366,630.

Jerusalem Missionary Baptist Church sought protection under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Ohio Case No. 18-50176) on
Jan. 30, 2018.  Roger Oliver, chairman, Deacon Board, signed the
petition.  

At the time of the filing, the Debtor disclosed $423,105 in assets
and $1.88 million in liabilities.  

Judge Alan M. Koschik presides over the case.


LAUREL OF ASHEVILLE: Seeks to Hire Precision as Accountant
----------------------------------------------------------
The Laurel of Asheville, LLC, seeks approval from the U.S.
Bankruptcy Court for the Western District of North Carolina to hire
Precision Accounting Services as its accountant.

The firm, through Beth Evans, will prepare the Debtor's tax
returns, monthly status reports and other reports; assist in the
preparation of its disclosure statement; and provide other
accounting services related to its Chapter 11 case.

Ms. Evans will charge the Debtor at the rate of $115 per hour.  The
firm's staff and clerks will charge an hourly fee of $85.

Ms. Evans disclosed in a court filing that the firm and its members
and associates are "disinterested persons" as defined in section
101(14) of the Bankruptcy Code.

The firm can be reached through:

     Beth Evans
     Precision Accounting Services
     876 New Leicester Highway Suite 3A
     Asheville, NC 28806
     Phone: 828-281-0805
     Fax: 828-281-0706
     E-mail: Beth.Evans@precisionacct.com
             info@precisionacct.com

                 About The Laurel of Asheville

The Laurel of Asheville, LLC -- http://thelaurelofasheville.com/--
which publishes a lifestyle magazine that features stories on the
arts, music, events, food, communities and recreation of Western
North Carolina, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D.N.C. Case No. 17-10485) on Nov. 17,
2017.  At the time of the filing, the Debtor estimated assets of
less than $100,000 and liabilities of less than $500,000.  Judge
George R. Hodges presides over the case.  Pitts, Hay &
Hugenschmidt, P.A., is the Debtor's bankruptcy counsel.


LITTLE MIAMI: Moody's Withdraws Ba1 Issuer and GOLT Ratings
-----------------------------------------------------------
Moody's Investors Service has withdrawn the Ba1 issuer and general
obligation limited tax (GOLT) ratings of Little Miami Joint Fire
District, OH due to insufficient information. This action affects
$7.1 million of outstanding GOLT debt.

SUMMARY RATING RATIONALE

Moody's has withdrawn the ratings because it believes it has
insufficient or otherwise inadequate information to support the
maintenance of the ratings.

This review was initiated by Moody's on January 2, 2018. This
action concludes that review. This rating action was not requested
by the rated entity.


LIVE OAK HOLDING: Court Asked to Extend Terms of PCMI Employment
----------------------------------------------------------------
The Chapter 11 trustee for Live Oak Holding, LLC filed an
application with the U.S. Bankruptcy Court for the Southern
District of California to extend the terms of employment of Pacific
Commercial Management, Inc.

In his application, Richard Kipperman, the bankruptcy trustee,
proposes to extend the terms of Pacific's employment to May 31,
2018.

Mr. Kipperman hired the real estate broker in connection with the
sale of Live Oak Springs Water Company.  The sale process has not
yet concluded, according to the court filing.

Other than the extension of the termination date, the terms of
Pacific's employment are identical to those previously approved by
the court, according to court filings.  

                      About Live Oak Holding

Live Oak Holding, LLC, at the time of its filing, owned
approximately 115.85 acres near Boulevard, California on which it
had previously operated various businesses, including a water
company, campground, restaurant and bar, off-road vehicle race
track and mobile home park.

Live Oak Holding sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Cal. Case No. 13-11672) on Dec. 3,
2013.  In the petition signed by Nazar Najor, member, the Debtor
reported assets of $1.81 million and liabilities of $2.07 million.

The case is assigned to Judge Laura S. Taylor.  

The Debtor hired Ruben F. Arizmendi, Esq., at Arizmendi Law Firm,
as its legal counsel.

On Jan. 30, 3014, Richard M. Kipperman was appointed as the Chapter
11 trustee.  The Trustee is represented by Mintz Levin Cohn Ferris
Glovsky and Popeo P.C.  Lauren Najor was hired as bookkeeper for
the Debtor's water company.


LUX HOLDCO III: S&P Assigns 'B' CCR, Outlook Stable
---------------------------------------------------
Private equity sponsor SK Capital is acquiring the fire safety and
oil additives business from Israel Chemicals for approximately $1
billion. The stand-alone entity Lux HoldCo III (Invictus) plans to
issue $645 million first-lien credit facilities consisting of a
$100 million revolving credit facility and a $545 million
first-lien term loan, as well as a $170 million second-lien term
loan as part of the transaction.

S&P Global Ratings assigned its 'B' corporate credit rating to Lux
HoldCo III. The outlook is stable.

At the same time, S&P assigned its 'B+' issue-level rating (one
notch above the corporate credit rating) to Lux HoldCo III's
proposed $645 million first-lien credit facilities. The recovery
rating on this facility is '2' indicating S&P's expectation of
substantial (70%-90%; rounded estimate: 70%) recovery in the
event of payment default.

S&P said, "We also assigned our 'CCC+' issue-level rating (two
notches below the corporate credit rating) to Lux HoldCo III's
proposed $170 million second-lien credit facility. The recovery
rating on the facility is '6' indicating our expectation of
negligible (0%-10%; rounded estimate: 0%) recovery in the event
of payment default."

The borrowers of the first- and second-lien credit facilities are
both Lux HoldCo III and U.S. NewCo.

Lux HoldCo III is a specialty chemical company that is a carve-out
of the fire safety and oil additives business of Israel Chemicals.
The fire safety segment manufactures fire safety chemicals
including Phos-Chek fire retardants, class A and class B foams, and
water-enhancing gels. These products are used to contain and
extinguish wildland, industrial and municipal fires. The oil
additives segment produces high-quality phosphorus pentasulfide
(P2S5) used in the preparation of ZDDP-based lubricant additives,
which are utilized in commercial and passenger vehicles. Lux HoldCo
III has long-standing customer relationships with government
agencies and is a market leader in both fire
retardants and class A foams. S&P's 'B' rating reflects its
expectation that weighted-average adjusted debt to EBTIDA will
remain above 5x.

The stable outlook reflects S&P's expectation that LUX HoldCo III
will maintain operational performance levels that will result in
pro forma leverage measures with FFO/debt of less than 12% during
the next 12 months. S&P Global Ratings expects U.S. GDP growth of
2.8% in 2018 and 2.2% in 2019. S&P expects Lux Holdco III to
continue to improve profitability measures and top line growth as
it continues to grow volumes at slightly greater than GDP levels
across the fire safety business and in line with GDP across the oil
additives business. S&P's stable outlook does not factor in any
large acquisitions, aggressive shareholder remuneration, or
divestitures.

A negative rating action is possible within the next 12 months if
Lux Holdco II has weaker-than-expected end-market demand or if
competition enters the fire retardant market, causing weighted
average FFO/debt to fall below below 7%. In this downside scenario,
S&P would expect that EBITDA margins would fall
by 10%. A loss of a key customer in either segment could also lead
to a negative rating action. Additionally, S&P could take a
negative rating action if liquidity significantly lessens such that
free cash flow turns negative and sources over uses is less than
1.2x. S&P could also take a negative rating action if the company
pursues any large debt-funded shareholder rewards or
acquisitions.

S&P said, "We could take a positive rating action on Lux HoldCo III
over the next 12 months if the company's operating performance is
much better than we expect such that debt leverage is sustained
below 5x and FFO to debt is above 12%, along with financial
policies consistent with a higher rating. We could see such
improved performance if fire-retardant sales improve well in excess
of our expectations, driving revenue growth to improve by 10%
coupled with a 5% EBITDA margin expansion."


MACK-CALI REALTY: Moody's Assigns (P)Ba2 Pref. Stock Shelf Rating
-----------------------------------------------------------------
Moody's Investors Service has assigned a (P) Ba2 prospective rating
to Mack-Cali Realty Corporation's preferred stock shelf
registration. In the same rating action, Moody's has assigned (P)
Ba1 and (P) Ba2 ratings to Mack-Cali Realty L.P.'s senior unsecured
debt and subordinate debt shelf registrations. The rating outlook
is negative.

The following ratings were assigned

Mack-Cali Realty Corporation

Preferred Stock shelf at (P) Ba2

Mack-Cali Realty L.P.

Senior unsecured debt shelf at (P) Ba1

Subordinate debt shelf at (P) Ba2

RATINGS RATIONALE

Mack-Cali's Ba1 senior unsecured debt rating reflects the REIT's
high quality but geographically concentrated portfolio, high
leverage ratios, steadily declining unencumbered asset base and
meaningful lease expirations in 2018 and 2019.

The negative rating outlook reflects the REIT's modest liquidity
position relative to its large development pipeline and the
potential for sustained weakness in its portfolio lease rate.

A ratings upgrade, unlikely in the near term, would require
sustained improvement in the leverage and coverage metrics and
diversification in income mix. Key considerations include net debt
to EBITDA below 7.5x, secured leverage below 20% and fixed charge
at 2.7x or higher, all on a sustained basis. Unencumbered asset
ratio above 60% on a consistent basis, multifamily income
contribution of 25% or more and ample liquidity to manage all its
funding needs over the next 12 months are some other factors that
could provide upward rating momentum.

The ratings will be downgraded if fixed charge coverage drops below
2.2x, the unencumbered assets ratio is lower than 40% and net debt
to EBITDA is above 8.5x on a sustained basis. Further deterioration
in portfolio lease rate, or liquidity challenges could also result
in a rating downgrade.

Mack-Cali Realty Corporation (NYSE: CLI) is an office REIT that
owns 17.8 million square feet of office space, primarily in New
Jersey. The REIT also owns and has interests in 16 operating
multi-family properties in New Jersey, Massachusetts and Washington
DC.

The principal methodology used in these ratings was Global Rating
Methodology for REITs and Other Commercial Property Firms published
in July 2010.


MATTEL INC: S&P Affirms 'BB-' CCR Despite Weak Quarter Performance
------------------------------------------------------------------
S&P Global Ratings affirmed its 'BB-' corporate credit rating on El
Segundo, Calif.-based Mattel Inc. The rating outlook is negative.

S&P said, "We also affirmed our 'BB-' issue-level rating with a '3'
(capped) recovery rating on the company's $1 billion high-yield
senior unsecured note due 2025. The '3' recovery rating reflects
our expectation for meaningful (50%-70%; rounded estimate: 65%)
recovery for lenders in the event of a payment default.

"At the same time, we affirmed our 'BB-' issue-level rating with a
'4' recovery rating on the company's $1.9 billion of senior
unsecured notes that were issued prior to the December 2017 $1
billion high-yield notes issuance. The $1.9 billion of senior
unsecured notes include $500 million maturing 2019, $250 million
maturing 2020, $350 million maturing 2021, $250 million maturing
2023, $250 million maturing 2040, and $300 million maturing 2041.
The '4' recovery rating reflects our expectation for average
(30%-50%; rounded estimate: 40%) recovery for lenders in the event
of a payment default.

"Despite revenue and EBITDA underperformance in the fourth quarter
of 2017 that has caused us to lower our base-case forecast through
2019, we affirmed our 'BB-' corporate credit rating on Mattel
because we believe there is a plausible path in 2018 toward revenue
stabilization, some margin recovery, and a return to positive cash
flow from operations. We also forecast a reduction in leverage to
below our 5x downgrade threshold by early 2019. In addition, Mattel
ended 2017 with high cash balances of over $1 billion and its $1.6
billion ABL revolver was undrawn as of Dec. 31, 2017, providing a
significant liquidity cushion as Mattel attempts to turn around its
business.

"Despite our base-case forecast for revenue stabilization, and
margin and leverage improvement through 2019, the negative outlook
reflects the high level of variability in revenue, EBITDA and
operating cash flows, and the uncertainty regarding the success of
the company's turnaround plan. The ongoing shift in consumer
purchasing behavior toward the online channel and shoppers arriving
later in retail stores during the holiday season may also
contribute to variability in operating performance. These risk
factors could result in adjusted leverage sustained above our 5x
downgrade threshold through 2019 and cause us to lower ratings.
Additionally, although we have assumed sales adjustments as a
percentage of revenue will remain elevated at around 11.5% annually
through 2019, the negative outlook also reflects the potential for
this measure to deteriorate as it has done over the past three
years, potentially leading to further net revenue declines from
weakening demand for the company's products.

"We could lower ratings if revenue or EBITDA underperforms our
current base-case forecast through 2019, and we believe operating
fundamentals could deteriorate further in a manner that causes
total lease-adjusted debt to EBITDA to stay above 5x. We could also
lower ratings if we believe revenue will continue to decline as a
result of market share losses in key product categories, even if
EBITDA grows because of potentially significant cost cutting. In
addition, because of heavy expected cash balance and revolver usage
due to the seasonal working capital needs of the business, we
currently rate to a forecasted year-end leverage measure.

"We could revise the rating outlook to stable if Mattel stabilizes
revenue, begins to improve gross margin, and maintains its market
share in key product categories, and if we become confident Mattel
can sustain total lease-adjusted debt to EBITDA comfortably below
5x. While unlikely over the next few years, we could raise the
rating if Mattel can significantly grow revenue and EBITDA, and
adopts a leverage policy that sustains adjusted debt to EBITDA
below 4x."


MEG ENERGY: Fitch Affirms 'B' IDR; Outlook Remains Negative
-----------------------------------------------------------
Fitch Ratings has affirmed MEG Energy's (TSE: MEG) Long-Term Issuer
Default Rating (IDR) at 'B', and the first-lien senior secured
revolver and term loan, and second-lien secured notes at 'BB'/'RR1.
The senior unsecured notes were downgraded to 'B-'/'RR5' from
'B'/'RR4.' The Outlook remains Negative.

The affirmation of the IDR reflects MEG's improving leverage
metrics and increased operational momentum as it executes on its
enhanced Modified Steam and Gas Push (eMSAGP) program;
below-average refinancing risk (no major bond maturities due until
January 2023, and a covenant-lite revolver which is not subject to
borrowing-base redetermination); good liquidity; and expected
capital and efficiency gains, which, all else equal, should
continue to help push breakevens modestly lower over the next few
years.

Rating concerns include low diversification; high leverage to oil
prices; and significant exposure to volatile WTI-WCS spreads, which
have widened sharply since December. Fitch expects MEG's leverage
will drop as low-cost volume expansions come online; however, a
prolonged period of wide WCS differentials could slow or stall this
improvement. The downgrade of MEG's unsecured notes to 'B-'/'RR5'
reflects lower asset valuation linked to recent market-related
transactions in the Oil Sands.

Approximately CAD4.7 billion in debt was affected by today's rating
action.

KEY RATING DRIVERS

Leverage High but Improving: MEG's leverage, while still high, has
improved sharply, declining from 18.4x at year-end 2016 to 8.5x on
an LTM basis at Sept. 30, 2017. The LTM improvement was driven by
moderately higher oil prices, tighter WCS spreads, and margin
expansion from ongoing efficiency gains. While 8.5x remains high
for the 'B' rating category, Fitch anticipates further improvements
driven by the eMSAGP expansion program. In Fitch base case
forecast, Fitch expect leverage will eventually improve to 5.8x by
2019 and 4.3x in 2020. Prior to that, in 2018 Fitch expect that
improvements in MEG's leverage metrics are likely to stall out due
to the impact of wider WCS discounts.

Exposure to WCS Differentials: Because of its lack of downstream
integration, MEG is significantly more exposed to the WCS-WTI
spread than producers such as Suncor Energy Inc. and Canadian
Natural Resources Ltd. The WCS-WTI spread has been volatile and
recently experienced a basis blowout. In December, differentials
rose to the $25+/bbl level, following an earlier spill on the
590,000 bpd Keystone pipeline, and reduction in pipeline pressure.
Fitch expects the differential will narrow back down to levels
defined by railroad economics (approximately $18-$20/bbl), and
eventually reflect lower cost pipeline economics as various planned
pipeline projects come online in the late 2019/2020 time frame,
including Enbridge's Line 3 replacement, Keystone XL, and Kinder's
Transmountain project. However, delays in bringing these on could
keep differentials wide in the interim. While MEG lacks refining
integration, MEG enjoys some insulation from WCS differentials,
from both physical transportation arrangements (Flanagan South and
Seaway pipelines) as well as through WCS differential hedges.

Favorable Refinancing Impacts: MEG's January 2017 recapitalization
did several positive things for the company, including extending
the revolver maturity to 2021 and the term loan to 2023; replacing
2021 unsecured notes with 2025 second-lien secured notes; and
raising approximately CAD500 million in equity to fund its eMSAGP
growth initiative, which should supply 20,000 bpd of low-cost
production by early 2019. While the revolver was downsized to
USD1.4 billion from USD2.5 billion, Fitch views the current size as
adequate for MEG's operations going forward. All outstanding and
pro forma debt continues to have a covenant-lite structure free of
financial maintenance covenants.

Ample Near-Term Liquidity: MEG's liquidity is good. At Sept. 30,
2017, MEG had cash of CAD398 million, and an undrawn CAD1.75
billion revolver (USD1.4 billion) that matures in November 2021.
MEG's credit facility, while secured, is not linked to a borrowing
base and therefore not subject to biannual redeterminations unlike
many of its 'B' rated peers. Outside of term loan amortizations,
the company's earliest maturity is its 6.375% 2023 notes. Current
maintenance capex is estimated at around CAD220 million and should
rise in line with increasing volumes. However, if prices were to
decline, Fitch believes MEG has the flexibility to defer sustaining
and maintenance capex that would result in single-digit production
declines.

Growth Projects Gain Steam: MEG is focused on high-return growth
projects that will increase production at low incremental costs.
These include its eMSAGP project and 2B brownfield projects, which
should add 20mboepd and 13mboepd of production, respectively. Both
are low-cost, high-return projects. Under eMSAGP, MEG injects
non-condensable methane into reservoirs to allow liquefaction of
bitumen at significantly lower Steam Oil Ratios (SORs). Projected
costs have dropped to CAD17,500/barrel, down 13% from earlier
estimates. To date, the company has successfully deployed eMSAGP
across 30% of its production, with the primary capital costs
consisting of new well pairs, which redirect scavenged steam. The
company expects to achieve average production of 85kbpd-88kbpd in
2018 (which includes the impact of a major planned turnaround),
with an exit production rate of 95kpd-100kbpd. Future potential
growth projects also include the eMVAPEX program (a
solvent-assisted SAG-D technology, currently in the pilot phase).

Improved Capital and Operating Efficiencies: MEG has reduced
operating and capital expenses, helping to lower cash breakeven
prices. Capital costs for eMSAGP declined to CAD350 million from
CAD400 million earlier, and MEG's overall 2017 capex declined to
CAD510 from CAD590 million. Guidance for non-energy operating costs
has declined to CAD4.75/bbl-5.25/bbl, down from CAD5.62/bbl in 2016
and CAD8.02/bbl in 2014. Lower costs have been driven by higher
volumes (approximately 90% of MEG's non-energy operating costs are
fixed), as well as process improvements, including redesigned well
pads, improved well spacing, and maintenance schedule optimization.
MEG expects to reduce cash costs by $4-$5/bbl by 2020 when it is
producing at the 113,000 boepd level.

MEG's LTM cash netbacks have recovered from the depressed levels
seen in 2016, to CAD24.09/bbl for the LTM period versus just
CAD10.18/bbl for the comparable period in 2016. The main drivers
were substantially higher bitumen prices, stronger WCS
differentials, and reductions in non-energy operating costs.
Looking forward, Fitch expect netbacks will soften in 2018 in Fitch
base case due to an unfavorable increase in WCS spreads, before
beginning to recover in 2019.

Growing Hedge Program: MEG has increased its hedging activity to
protect its capital program and mitigate cash flow volatility. The
company hedges WTI as well as the WTI-WCS differential. As of
December, MEG had hedged an average of around 42,000 bpd of 2018
blended sales using a combination of swaps and collars. It had also
hedged just under 35,000 bpd of WCS and 13,000 bpd of 2018
condensate exposure through physical transactions for 2018. Fitch
expects that as the hedging program matures (it was initiated in
2016), it will expand into a multi-year program, similar to a
number of high-yield E&P peers. Fitch views hedge protections as a
credit positive for MEG.

Asset Sales Uncertain: Despite an improved overall environment for
asset sales in Canada, the timing of the sale of MEG's 50% stake in
the Access Pipeline system remains unclear. The company has
publicly stated that monetization of the asset remains a priority
and, more generally, that it would de-lever through both EBITDA
growth and balance sheet reductions. In Fitch base case, Fitch
conservatively assumed Access Pipeline would not be sold over the
next few years, and the company would retain related tariff
savings. The lack of an asset sale and associated debt repayment
increases the importance of timely expansion of growth initiatives,
and efficiency gains in getting metrics back to in-category
levels.

DERIVATION SUMMARY

MEG is reasonably positioned versus 'B' rated E&P peers. MEG's size
is above average (83,000bpd), as is its liquids exposure (100%).
Refinancing and liquidity risk are below average, given the lack of
near-term maturities (next major bond not due until January 2023),
and a covenant-lite revolver that is not subject to borrowing-base
redetermination.

Offsetting considerations include low diversification, given that
MEG is essentially a single-play oil sands producer; higher
leverage to oil prices than most other high-yield E&Ps, modest
execution risk in its growth projects, and significant exposure to
volatile WTI-WCS price differentials given its lack of integration,
especially when compared to larger Canadian oil sands operators
such as Cenovus Energy Inc (BBB-) and Suncor Energy Inc. (not
rated). Fitch expects MEG's leverage will drop as low-cost volume
expansions come online. No country-ceiling, parent/subsidiary or
operating environment aspects impact the rating.

KEY ASSUMPTIONS

Fitch's Key Assumptions within Fitch Rating Case for the Issuer
-- Base case WTI oil prices of USD50/bbl in 2018, USD52.50/bbl in

    2019, and USD55/bbl in 2020 and the long run;
-- Base case natural gas price of USD3.00/mcf in 2018 and 2019,
    and USD3.25 in the long run;
-- Production of approximately 86,500 boepd in 2018, 100,000
    boepd in 2019, and 103,000 boepd in 2020;
-- Capex of approximately CAD510 million in 2018, CAD438 million
    in 2019, and CAD370 million in 2020;
-- A moderately strengthening CAD/USD exchange rate across the
    forecast period, in line with rising oil price deck;
-- No sale of the Access Pipeline within the forecast period.

RATING SENSITIVITIES

Developments That May, Individually or Collectively, Lead to
Positive Rating Action
For an upgrade to 'B+':
-- Successful execution of expansion programs, with capex funded
    in a credit-neutral manner;
-- Mid-cycle debt/EBITDA below 4.0x;
-- Mid-cycle debt (USD)/flowing barrel less than $35,000.

To Stabilize the Negative Outlook
-- Material progress in deleveraging through some combination of
    growth and/or debt repayment.

Developments That May, Individually or Collectively, Lead to
Negative Rating Action
-- Prolonged dislocation in WTI-WCS spreads;
-- Major operational issue with eMSAGP or existing production
    facilities;
-- Mid-cycle debt/EBITDA projections over 6.0x;
-- Debt (USD)/flowing barrel greater than $45,000.

LIQUIDITY

Ample Liquidity Supports Profile: At Sept. 30, 2017, MEG had CAD398
million of cash and an undrawn CAD1.75 billion revolver (USD1.4
billion) that matures in November 2021, as well as a separate
USD440 million letter of credit facility from Export Development
Canada (EDC) that matures in 2021. There were no draws on the main
revolver at Sept. 30, 2017, but the EDC facility had USD307 million
outstanding. Draws under the EDC facility do not impact
availability under the main revolver. MEG's LTM FCF was -CAD210
million, and most of the remaining spend on eMSAGP is scheduled to
be finished by 2018 and should be funded without tapping the
revolver. MEG's credit facility, while secured, is not linked to a
borrowing base and therefore not subject to biannual
redeterminations unlike many high-yield peers.

Both the revolver and long-term debt are covenant-lite, which
enhances flexibility. Outside of term loan amortizations, the
company's earliest maturity is its 6.375% 2023 notes. Current
maintenance capex is estimated at CAD220 million and should rise in
line with increasing volumes. However, if oil prices were to
decline further, Fitch believes MEG has the ability to defer
sustaining and maintenance capex, which would result in
single-digit production declines. Cash interest is substantial at
approximately CAD291 million, and EBITDA/interest paid was weak at
1.9x, but should benefit as production volumes rise.

Strong Recovery for Secured Notes: The recovery analysis for MEG
was based on the maximum of going-concern value and traded asset
valuation. Under the traded asset valuation approach, Fitch used a
conservative multiple based on recent transactions in the Canadian
Oil Sands (CAD55,413/flowing barrel) and multiplied it by MEG's
most recent quarterly production (83,008 bpd) to estimate an
initial asset value for the company's core E&P properties of CAD4.6
billion. Fitch then added Fitch estimated valuation for MEG's 50%
stake in the Access Pipeline system (CAD1.28BN), as well as
adjusted values for MEG's A/R and inventory, to generate total
traded asset valuation of approximately CAD6.1 billion. Separately,
Fitch calculated a going-concern valuation for MEG of approximately
CAD5.1 billion, which consisted of Fitch projected going-concern
EBITDA for MEG of CAD1,014 million multiplied by a 5.0x multiple,
which is in line with historical multiples for the sector . The
maximum of these two approaches was the traded asset valuation
approach of CAD6.1 billion.

A standard waterfall approach was then applied. After subtracting
10% for administrative claims, the remaining value was applied to
the waterfall analysis, and the company's first-lien secured term
loan, revolver, and LOC facility all recovered at the 100% level,
and were therefore rated 'BB/RR1'. The second-lien notes also
recovered 100% and were rated 'BB/RR1'. However, recovery for the
senior unsecured notes declined to 'B-'/'RR5' (11%-30%). The
decline in recovery for the senior unsecureds was driven primarily
by lower multiples used in the asset valuation approach, which
reflects the lower value of recent comparables data.

FULL LIST OF RATING ACTIONS

MEG Energy Corp.

- Long-Term IDR affirmed at 'B';
- First-lien secured revolver affirmed at 'BB/RR1';
- First lien secured term loan affirmed at 'BB/RR1';
- Second- lien secured notes affirmed at 'BB/RR1';
- Senior unsecured notes downgraded to 'B-'/'RR5' from 'B'/'RR4';

The Rating Outlook remains Negative.


MERITOR INC: Moody's Alters Outlook to Pos. & Affirms B1 CFR
------------------------------------------------------------
Moody's Investors Service revised Meritor, Inc.'s rating outlook to
positive from stable, and affirmed all ratings, including Corporate
Family and Probability of Default at B1 and B1-PD, respectively,
and senior unsecured at B2. Moody's also affirmed Meritor's
Speculative Grade Liquidity Rating at SGL-2.

Outlook Actions:

Issuer: Meritor, Inc.

-- Outlook, Changed To Positive From Stable

Affirmations:

Issuer: Meritor, Inc.

-- Probability of Default Rating, Affirmed B1-PD

-- Speculative Grade Liquidity Rating, Affirmed SGL-2

-- Corporate Family Rating (Local Currency), Affirmed B1

-- Senior Unsecured Regular Bond/Debenture (Local Currency) Feb
    15, 2024, Affirmed B2 (LGD4, from LGD5))

RATINGS RATIONALE

Meritor's positive rating outlook reflects the company's improved
leverage and debt service profile resulting from debt reductions
with asset sale proceeds combined with recovering conditions in the
U.S. commercial vehicle markets. Following the sale of the
company's interest in Meritor WABCO Vehicle Control Systems in
October 2017 for $250 million, a portion of the proceeds were used
to reduce long-term debt. For the LTM period ending December 31,
2017, Meritor's Debt/EBITDA is estimated at about 4.4x. Meritor's
financial performance is also benefiting from improving build rates
in the commercial vehicle industry, particularly in North America
where build rates for Class 8 vehicles are expected to grow about
30% in 2018. These considerations are expected to support the
positioning of Meritor's credit metrics solidly towards the
potential for higher ratings over the intermediate-term. In
addition continued free cash flow generation in the range of
approximately $100 million should support further debt repayments
and additional operating flexibility during industry cyclical
downturns.

The ratings could be upgraded upon expectations of achieving 10%
adjusted EBITDA margins, maintaining debt below $1.4 billion
(inclusive of Moody's Standard Adjustments) and growing organic
revenue. Metrics on a Moody's adjusted basis that would have the
potential to support an upgrade include EBITA margins above 8%,
EBITA / interest exceeding 2.5x, and debt / EBITDA approaching
3.5x.

The ratings could be downgraded with sustained EBITA margins below
6.0%, EBITA / interest of less than 1.5x or debt / EBITDA above
5.5x. Other potential events that could result in a downgrade
include meaningful loss of market position, a weakening of the
company's liquidity profile, or more aggressive financial policies
such as increased target leverage or return of capital to
shareholders.

The principal methodology used in these ratings was Global
Automotive Supplier Industry published in June 2016.

Meritor, Inc., headquartered in Troy, MI, is a leading global
supplier of drivetrain, mobility, braking and aftermarket solutions
for commercial truck, trailer, off-highway, defense, specialty and
aftermarket customers around the world. Revenues for the LTM period
ended December 31, 2017 were approximately $3.6 billion.


MICHIGAN COMMERCIAL: Taps Stevenson & Bullock as Legal Counsel
--------------------------------------------------------------
Michigan Commercial Door Group, LLC, received approval from the
U.S. Bankruptcy Court for the Eastern District of Michigan to hire
Stevenson & Bullock, PLC as its legal counsel.

The firm will advise the Debtor regarding its duties under the
Bankruptcy Code and will provide other legal services related to
its Chapter 11 case.

The firm's hourly rates are:

     Michael Stevenson       Attorney            $375
     Charles Bullock         Attorney            $350
     Kimberly Bedigian       Attorney            $300
     Sonya Goll              Attorney            $300
     Ernest Hassan, III      Attorney            $275
     Elliot Crowder          Attorney            $275
     Michelle Stephenson     Attorney            $300
     Other Attorneys         Attorney        $200 to $400
     Leslie Haas             Paralegal           $100
     Marsha Lawrence         Paralegal           $100
     Legal Assistants                         $50 to $95

Stevenson & Bullock received $5,217 for pre-bankruptcy fees and
expenses, including $1,717 for the filing fee.

Elliot Crowder, Esq., disclosed in a court filing that he and his
firm are "disinterested persons" as defined in section 101(14) of
the Bankruptcy Code.

The firm can be reached through:

     Elliot G. Crowder, Esq.
     Stevenson & Bullock, PLC
     26100 American Drive, Suite 500
     Southfield, MI 48034
     Phone: (248) 354-7906
     Fax: (248) 354-7907
     Email: ecrowder@sbplclaw.com

              About Michigan Commercial Door Group

Based in Saint Clair Shores, Michigan, Michigan Commercial Door
Group, LLC, specializes in the distribution, installation and
service of commercial and industrial doors, material handling
equipment and other products.  It offers 24-hour repair and new
installation services for its customers across Michigan.  

Michigan Commercial Door Group sought protection under Chapter 11
of the Bankruptcy Code (Bankr. E.D. Mich. Case No. 18-40809) on
Jan. 22, 2018.  In the petition signed by Natalia K. Gentry,
authorized representative, the Debtor estimated assets of less than
$50,000 and liabilities of less than $1 million.  

Judge Phillip J. Shefferly presides over the case.


MOLINA HEALTHCARE: S&P Lowers CCR to 'BB-', Outlook Stable
----------------------------------------------------------
S&P Global Ratings said it lowered its long-term issuer credit and
senior unsecured debt ratings on Molina Healthcare Inc. to 'BB-'
from 'BB'. The outlook is stable.

The downgrade reflects Molina's diminishing geographic footprint
and top line revenue in its Medicaid segment based on its losing
bids to retain two of its significant Medicaid contracts in New
Mexico and Florida (the company was invited to participate in only
one of 11 counties in Florida). These contracts represent about 14%
($2 billion) of total premium for the first nine months ended Sept.
30, 2017. The downgrade also reflects S&P's view that Molina faces
operational challenges building out its care-management model to
reduce its overall medical loss ratios in certain markets to
improve its earnings in 2018-2019, as well as other operational
challenges to turn around its earnings trajectory.

S&P said, "The stable outlook on Molina Healthcare Inc. reflects
our expectations for the company to maintain a meaningful presence
in the managed Medicaid market and improve its core operations,
operating earnings, and financial flexibility during the next 12
months. For 2018-2019, we forecast EBIT return on revenues (ROR) of
2%-3%. We expect leverage to improve to the lower end of the
48%-53% range through 2019 with adjusted EBITDA interest coverage
expectation of 4x-6x.

"We could lower our ratings if Molina does not improve its ROR
towards 2% and if it can't retain other key Medicaid contract
renewals. We could also lower our ratings in the next 12-24 months
if Molina adopts a more-aggressive financial policy with no
meaningful deleveraging below 50%, EBITDA  interest coverage falls
below 4x and capital adequacy is not maintained at least at the
'BBB' level per our model.

"Although unlikely within the next 12 to 24 months, we may raise
the ratings if Molina adopts more-conservative financial policies
to manage its long-term financial leverage closer to 40%, sustains
stronger capital adequacy, and shows a higher commitment and
ability to generate an EBIT ROR above 2% that is consistently more
in line with peers'."


MOUNTAIN CRANE: Committee Taps Archer & Greiner as Legal Counsel
----------------------------------------------------------------
The official committee of unsecured creditors of Mountain Crane
Services LLC seeks approval from the U.S. Bankruptcy Court for the
District of Utah to hire Archer & Greiner, P.C. as its legal
counsel.

The firm will assist the committee in its negotiations with the
Debtor; investigate the Debtor's assets and pre-bankruptcy conduct;
advise the committee regarding the terms of any asset sale or
bankruptcy plan; and provide other legal services related to the
Debtor's Chapter 11 case.

The firm's hourly rates range from $265 to $550 for its partners
and counsel, $210 to $395 for associates, and $70 to $250 for
paralegals.

The attorneys expected to represent the committee are:

     Stephen Packman        Shareholder   $550
     Jerrold Kulback        Partner       $470
     Douglas Leney          Partner       $375
     S. Alexander Faris     Associate     $265

Stephen Packman, Esq., at Archer & Greiner, disclosed in a court
filing that his firm is a "disinterested person" as defined in
section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Stephen M. Packman, Esq.
     Douglas G. Leney, Esq.
     Archer & Greiner, P.C.
     Three Logan Square
     1717 Arch Street, Suite 3500
     Philadelphia, PA 19103
     Phone: (215) 963-3300
     Email: spackman@archerlaw.com
     Email: dleney@archerlaw.com

                  About Mountain Crane Service

Mountain Crane Service, LLC -- https://www.mountaincrane.com/ --
specializes in refinery turnarounds and has a fleet comprised of
over 100 cranes, and hundreds of other pieces of equipment
dedicated to refineries in Utah, Montana, and Wyoming.  It is
located in Salt Lake City, Utah, with satellite offices and wind
maintenance service locations in Montana, Nevada, Washington,
Idaho, Wyoming, Iowa, Texas and Michigan.

Mountain Crane Service sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Utah Case No. 18-20225) on Jan. 12,
2018.  In the petition signed by Paul Belcher, managing member, the
Debtor estimated assets and liabilities of $50 million to $100
million.  Judge Joel T. Marker presides over the case.  

The Debtor hired Cohne Kinghorn, P.C. as its bankruptcy counsel;
and Rocky Mountain Advisory, LLC as its accountant and financial
advisor.

The U.S. Trustee for Region 19 appointed an official committee of
unsecured creditors on January 25, 2017.


MOUNTAINEER GAS: Fitch Affirms BB+ Long-Term IDR; Outlook Stable
----------------------------------------------------------------
Fitch Ratings has affirmed the Long-Term Issuer Default Rating
(IDR) of Mountaineer Gas Company (MGC) at 'BB+' with a Stable
Outlook. Fitch has also affirmed MGC's senior unsecured ratings at
'BBB-'/'RR1'.

MGC's ratings reflect its small scale as a local distribution
company (LDC) operating in a restrictive regulatory environment.
The use of historical test years and the absence of revenue
decoupling or weather normalization in West Virginia continue to
weigh on MGC's credit profile, in Fitch's view. MGCs Eastern
Panhandle expansion project is the key driver of a relatively
elevated capex over the forecast period. The infrastructure
replacement and expansion program (IREP) rider partly alleviates
regulatory lag, and is credit positive, in Fitch's view. Despite
the large capex program, Fitch expects MGC's financial profile to
remain in line with existing ratings over 2018-2021.

KEY RATING DRIVERS

Small Scale of Operations: The ratings of Mountaineer Gas Company
(MGC) are restricted by the utility's small scale of operations.
Over the last three years, MGC's EBITDAR and FFO has averaged less
than $30 million per year making MGC one of the smallest
investor-owned natural gas distribution utilities rated by Fitch.
Small changes in revenue or expenses can have a large impact on
financial metrics, causing the utility to be more vulnerable to
external shocks.

Private Equity Ownership: MGC's ratings are also restricted by the
utility's private equity ownership. MGC's holding company,
Mountaineer Gas Holdings Limited Partnership (MGH), is owned by
private equity funds ultimately owned by iCON Infrastructure LLP
and IGS Utilities LLC (IGS LLC). Fitch considers private equity
ownership to present an increased level of credit risk due to the
typically more aggressive dividend payout policy, weaker financial
flexibility, and less transparent corporate governance compared
with a publicly traded company.

Challenging Regulatory Environment: Fitch regards West Virginia's
regulatory environment as challenging. The Public Service
Commission of West Virginia (PSCWV) does not allow MGC to use
revenue decoupling or weather normalization. In addition, the
PSCWV's use of a historical test year for rate case decisions makes
it difficult for MGC to earn its authorized return on equity (ROE).
However, the PSCWV's implementation of an infrastructure
replacement and expansion program (IREP) cost recovery rider
partially mitigates regulatory lag.

Supportive, But Volatile, Financial Metrics: Fitch expects MGC's
financial profile to remain supportive of the ratings, but the
company's small size, large seasonal working capital borrowings,
and exposure to the effects of weather result in significant swings
in financial metrics, both on a seasonal basis and year to year.
Assuming normal weather, Fitch expects adjusted debt/EBITDAR to
average 4.5x-5.0x, FFO adjusted leverage to average 4.3-4.8x, and
FFO fixed-charge coverage to average 4.3x-4.7x through 2021.

Large Capex Program: Capex is expected to be significantly larger
over the next several years. Including the Eastern Panhandle
expansion project, capex is expected by Fitch to average
approximately $40 million-$50 million per year over 2018-2021. A
large portion of capital expenditure spend is earmarked for the
Eastern Panhandle expansion project, which is designed to provide
natural gas distribution service to unserved and underserved areas
in northeastern West Virginia. The inclusion of the Eastern
Panhandle capex in MGC's IREP cost recovery rider helps to
alleviate concerns related to MGC's large capex program.

Improved Financial Flexibility: In December 2017, MGC refinanced
its $70 million 7.58% notes due in 2017 and its $20 million LIBOR +
2.50% notes due in 2022. These notes were replaced by three
tranches of long-term debt totaling $100 million at significantly
lower interest rates. The refinancing of the long-term debt
improved financial flexibility by spreading the maturities over
2027, 2029, and 2032 and reducing annual interest expense by
approximately $2 million.

DERIVATION SUMMARY

Mountaineer Gas Company (MGC, BB+/Stable) has a weaker business
profile than other small local distribution companies (LDC) in
Fitch's universe such as Berkshire Gas Company (BGC, A-/Stable),
Southern Connecticut Gas (SCG, 'BBB+'/Positive), and Public Service
Company of North Carolina (PSNC, BBB-/RWE). All three peers operate
in more favorable regulatory environments that allow for mechanisms
MGC does not have such as revenue decoupling and energy efficiency
riders, key drivers supporting those companies' ratings. In
addition, MGC's ratings have limited upside due to the company's
small scale and a relatively aggressive financial policy due to
private equity ownership, which Fitch considers to be moderately
credit negative.

MGC's credit metrics are weaker than its peers and are expected to
remain elevated during a heavy capex cycle. As of LTM 3Q 2017,
adjusted debt/ EBITDAR and FFO-adjusted leverage metrics at MGC
were 4.3x and 4.0x, respectively, compared with 3.3x and 3.5x at
BGC, 3.6x and 3.5x at SCG, and 3.8x and 3.5x PSNC.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Fitch Rating Case for the Issuer
-- Fitch expects overall gas demand for years 2018-2021 to be in
    line with industry averages of 0%-0.5%.
-- EBITDA margins average 16.5% in 2018-2021.
-- Capex averaging $40 million -$50 million annually in 2018-
    2021.
-- Normal weather.

RATING SENSITIVITIES

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

Positive Rating Action: A positive rating action is not likely,
given the small scale of operations, the aggressive financial
policy of MGC's private equity owners, and the challenging
regulatory environment in West Virginia. Implementation of revenue
decoupling and/or other regulatory measures sufficient to provide a
greater level of stability and predictability to MGC's credit
metrics would be needed for a ratings upgrade.
Developments That May, Individually or Collectively, Lead to
Negative Rating Action

Negative Rating Action: A negative rating action is not likely, but
could occur if MGC's private equity owners instituted a more
aggressive financial policy that increased leverage, with adjusted
debt/EBITDAR around 5.0x and FFO fixed-charge coverage less than
3.5x on a sustained basis.

LIQUIDITY

MGC's natural gas distribution business is very seasonal, with much
larger sales during the winter heating season. Short-term debt is
used to temporarily fund working capital needs. Short-term
borrowings normally peak in late December and generally paid down
by the end of the first quarter.

Fitch considers MGC's liquidity to be adequate, primarily supported
by a $100 million unsecured revolving credit facility. The
five-year facility expires Dec. 1, 2019 and includes an accordion
feature that could expand the facility's size to $170 million to
account for the possibility of unusually high natural gas prices
and sales volumes that could occur during an abnormally cold winter
heating season. Fitch expects this facility to provide MGC with
sufficient availability for its working capital needs. As of Sept.
30, 2017, $24.5 million of borrowings were outstanding under the
facility, leaving $75.5 million available.

The credit facility includes financial covenants requiring MGC to
maintain a minimum EBITDA interest coverage ratio of 2.0x and a
maximum debt-to-capital ratio of 65%.

FULL LIST OF RATING ACTIONS

Fitch has affirmed the following ratings:

Mountaineer Gas Company
-- Long-Term IDR at 'BB+', Outlook Stable;
-- Senior unsecured debt at 'BBB-'/' RR1'.


NORTHERN OIL: S&P Cuts CCR to 'CC' on Proposed Debt Exchange
------------------------------------------------------------
S&P Global Ratings lowered its corporate credit rating on Northern
Oil and Gas Inc. to 'CC' from 'CCC+'. S&P said, "We also lowered
our issue-level rating on the company's senior unsecured debt to
'CC' from 'CCC+'. We will review the recovery rating upon closing
of the exchange. The outlook is negative."

The downgrade follows the announcement that Northern Oil and Gas
has entered into a privately negotiated agreement to exchange $497
million of its 8% senior unsecured notes due 2020 ($700 million
total outstanding) for $344 million of new 8.5% second-lien notes
due 2023 and $155 million in equity. In addition to the 8.5% annual
cash coupon, the new notes will accrue an additional 1% interest
that is payable-in-kind (PIK) until such time as Northern Oil
brings debt to EBITDA below 3x.

The exchange offer is also contingent upon several items:

-- Northern raising $156 million of additional common equity (up
to $78 million of which can be raised through the contribution of
additional properties in the Williston Basin);

-- Shareholder approval of the issuance of common stock for both
the exchange and the additional equity required;

-- The reincorporation of Northern Oil in Delaware from
Minnesota;

-- Consent of the first-lien lenders for the exchange; and

-- Definitive documentation for the new notes.   

S&P said, "We view the proposed transaction as a distressed
exchange because although the exchange offer is at nominal par
value, we believe debtholders are getting less than the original
promise on the securities due to the extended maturity of the new
debt and the partial conversion to equity (lower ranking in the
capital structure). In addition, we view the offer as distressed,
rather than opportunistic, given the company's unsustainable
leverage prior to the transaction.

"The negative rating outlook reflects our expectation that we will
lower our corporate credit rating on Northern Oil to 'SD'
(selective default) and our issue-level rating on the senior
unsecured notes due 2020 to 'D' once the transaction closes. We
will subsequently review the ratings based on the new capital
structure."

Upside scenario

S&P could raise the corporate credit rating if the transaction
doesn't close.


NOVA ACADEMY: S&P Lowers Rating on 2016A/B Bonds to BB
------------------------------------------------------
S&P Global Ratings lowered its rating to 'BB' from 'BB+' on
California Municipal Finance Authority's series 2016A and 2016B
(taxable) charter school revenue bonds, issued for Nova
Academy. The outlook is stable.

"We lowered the rating based in part on our updated criteria
published on Jan. 3, 2017, and on our view of Nova Academy's
unexpected decline in enrollment in fall 2017, leading to weakened
operations and coverage," said S&P Global Ratings credit analyst
Robert Tu. "In our view, the downgrade reflects the school's small
size, lack of waitlist, and maximum annual debt service
coverage of below 1.00x," Mr. Tu added.

Nova Academy is located in Santa Ana, Calif. It commenced
operations in 2005 as a ninth-through 12th grade charter high
school serving only nine students. The academy currently serves 406
students as of fall 2017.


OCEAN SPRAY: Fitch Affirms 'BB' IDR & Alters Outlook to Stable
--------------------------------------------------------------
Fitch Ratings has affirmed Ocean Spray Cranberries, Inc.'s Issuer
Default Rating (IDR) at 'BBB-'. The Rating Outlook has been revised
to Stable from Positive.  

The rating affirmation and the Outlook revision to Stable reflect
Fitch's expectations for moderately higher leverage (total adjusted
debt/adjusted EBITDAR) adjusted for cranberry cost of goods sold
(COGS) in the low 3x range due in part to the Atoka Cranberries
Inc. acquisition versus Fitch prior expectation of leverage being
sustained in the 2.7x-2.8x range. Additionally, Ocean Spray's
operating performance in the first fiscal quarter of 2018 (1Q18;
ended November 2017) was weak due primarily to volume-related
pressure given merchandising changes including the use of private
label offerings at one of Ocean Spray's largest North American
beverage customers. Consequently, given this pressure and the slow
ramp-up from new business initiatives, Fitch expects Ocean Spray
will be challenged to sustain low-single-digit revenue growth over
the next 12-18 months. LTM revenues declined at a low-single digit
rate.

Fitch views the announced acquisition of Atoka as beneficial to
Ocean Spray's business profile. The transaction will resolve
capacity constraints for sweetened dried cranberry (SDC) processing
with Ocean Spray expecting to make additional capital investments
during the next year to further increase efficiency and improve
yield. The transaction also expands Ocean Spray's manufacturing
footprint in Quebec, the second-largest and fastest-growing
cranberry farming region globally, with greater exposure to organic
cranberries that should support innovation efforts. Lastly, Ocean
Spray's decision to increase equity retention enhances flexibility
to pay down amortizing debt and limit overall debt increases
related to the Atoka acquisition over the rating horizon.

KEY RATING DRIVERS

Market Leadership, Brand Equity: Ocean Spray's market niche with
its premium, highly recognizable brand has generated a good level
of consistent profitability despite the competitive landscape. A
focus on beverage and snack innovation, particularly developing new
flavored blends, is a critical component of the company's strategy
that partially mitigates its relatively narrow product line which
is primarily dependent on a single fruit. However, Fitch believes
Ocean Spray needs to improve execution in other areas of new
product innovation, marketing and distribution to drive sustainable
low-single-digit top-line trends. Fitch expects operating
performance improvement will build throughout the remainder of the
fiscal year due to corrective actions taken and as SDC pricing
improves.

Stable Structure: Ocean Spray is a marketing cooperative wholly
owned by more than 700 cranberry growers. About 60% of the
worldwide cranberry crop is received, processed, and marketed
through Ocean Spray, resulting in roughly $1.6 billion in net
sales. The cooperative provides a stable organizational structure
for cranberry grower-owners and enhances grower profitability due
to Ocean Spray's brand strength, marketing capabilities, innovation
abilities and demand planning. Ocean Spray generates profitable
returns for grower-owners with consolidated pool proceeds staying
relatively stable despite increases in cranberry supply and
declining per-barrel return rates.

Subordinated Payments: Ocean Spray's financial profile benefits
from stable cash flow generation. In the event of an unforeseen
drop in profitability and cash flow, the cooperative structure
provides additional protection. Fitch believes the subordinated
nature of Ocean Spray's patronage payments to any loan agreements
or preferred stock distribution provides additional protection and
credit enhancing restrictions. The board of directors for Ocean
Spray must approve each patronage payment, allowing the payment to
be withheld or adjusted for business needs.

Concentrate Supply/Demand Imbalance: During the past decade,
cranberry supply has grown faster than demand due primarily to
growers increasing acreage and planting new higher-yielding
cranberry varieties that have increased the supply of juice
concentrate and, consequently, pressured cranberry prices and
per-barrel return rates for growers. The industry cranberry supply
declined by mid-single digits for the most recent fall harvest,
which relieves some pressure on oversupply conditions. Further
potential actions being considered by the cranberry industry may
support additional reductions in supply.

Increasing Grower Equity: Ocean Spray's management and the board of
directors have taken steps during the past couple of years to
retain more cash by increasing grower equity as a percentage of
total capitalization. For the current pool year 2016, the board
approved a plan to extend allocated retained earning redemptions
from six years to eight years. When combined with higher equity
retains from past larger crops, Ocean Spray is expected to increase
grower equity as a percent of total capitalization over the longer
term in excess of 30%. As of 1Q18 (Nov. 30, 2017), grower equity as
a percent of total capitalization was 28% compared with 24% at the
end of fiscal 2015.

Low 3x Leverage Expected: Estimated leverage adjusted for cranberry
COGS (total adjusted debt/adjusted EBITDAR) for the LTM ending Nov.
30, 2017 was 3.2x, up from 2.7x at the end of fiscal 2017. The
increased equity retention provides Ocean Spray flexibility to
repay amortizing debt during the next several years and limit debt
increases related to the Atoka acquisition. Fitch forecasts
leverage in the 3.2-3.3x range for fiscal 2018 and fiscal 2019.
Ocean Spray's next upcoming maturity is in 2020 when a $50 million
non-amortizing term loan matures. Term loan amortizations are $25
million the next three fiscal years.

DERIVATION SUMMARY

Ocean Spray's business profile reflects its dominant share in the
shelf-stable cranberry juice and dried cranberry segments. Ocean
Spray's strong focus on innovation in its beverage and snack
portfolio particularly with developing new flavored blends is a
critical component of the company's strategy that partially
mitigates a relatively narrow product line that is primarily
dependent on a single fruit.

Larger, well-capitalized beverage companies like PepsiCo (A/Stable)
and Coca-Cola (A+/Negative) have much stronger business profiles
than Ocean Spray and remain a material threat given substantially
greater scale and financial resources, significantly stronger
global market positions with well-developed expansive distribution
channels, sophisticated marketing capabilities and wide range of
strong brands that target different types of consumer and
consumption patterns. Ocean Spray has a stronger financial profile
than Land O' Lakes (BBB-/Stable) with much stronger FFO and EBIT
margins and materially less earnings and working capital
volatility.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Fitch Rating Case for the Issuer
-- In fiscal 2018, Fitch expects Ocean Spray revenues will
    decrease in the mid-1% range. In fiscal 2019, Fitch expects
    revenues flat to down slightly; assumptions include the Atoka
    acquisition;
-- Cranberry COGS adjustment to revenue in the mid-single digits
    for imputed cost of cranberries;
-- EBITDAR margins (without cranberry COGS adjustment) of
    approximately 23% throughout the forecast period;
-- Ocean Spray is expected to derive cash flow benefits related
    to cash retention from increased grower equity;
-- Leverage (total debt-to-adjusted operating EBITDAR with COGS
    adjustment) to be in range of 3.2x-3.3x throughout the
    forecast period.

RATING SENSITIVITIES

Future Developments That May, Individually or Collectively, Lead to
Positive Rating Action
-- Positive revenue trends with sustainable low-single-digit
    revenue growth driven by branded innovation;
-- Sustainable growth in consolidated pool proceeds;
-- Increase in grower equity approaching the 30% range of total
    capitalization;
-- Total adjusted debt-to-adjusted operating EBITDAR sustained
    below 3.0x;
-- Per-barrel patronage rates reflecting healthy operating
    conditions for Ocean Spray and its member-owners;
-- EBITDA margins (absent COGS adjustments) sustained at least in

    the low 20% range.

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

-- Total debt-to-adjusted operating EBITDAR above 3.5x due to
    materially lower than expected operating income, or
    unanticipated debt-financed acquisitions;
-- Negative cash deficit over multiyear period driven by higher
    capital investment and working capital requirements funded by
    debt;
-- Revenue materially weaker than expectations;
-- EBITDAR margins (absent COGS adjustments) sustained below 20%;
-- Grower equity as a percent of total capitalization declines to

    the lower 20% range;
-- Lack of appropriate level of external liquidity with
    sufficient covenant capacity in the event of a material
    revolver draw-down.
-- Persistent industry oversupply that causes per-barrel
    patronage rates to fall materially for a sustained period of
    time.

LIQUIDITY

Sufficient Liquidity: Ocean Spray has an $820 million credit
agreement including a $300 million revolving commitment with a $100
million uncommitted accordion that matures in 2020. Liquidity at
the end of 1Q18 included $17 million of cash with approximately
$147 million in availability under the revolving facility. Fitch
believes Ocean Spray maintains an appropriate level of external
liquidity with sufficient covenant capacity under the debt to
consolidated capitalization and consolidated shareholders' equity
covenants. This also provides Ocean Spray with sufficient cushion
if capital market access becomes limited.

Ocean Spray's business profile and financial flexibility are
factors that constrain its ratings. Like other cooperatives, Ocean
Spray pays out a high percentage of its patron earnings through
cash payments to its grower-owners, which can leave the company
significantly more reliant on external sources of liquidity,
particularly in times of high investment. In addition, the high
member cash payments can hinder the company's ability to deleverage
following increases in debt. However, the increased equity
retention during the next several years provides Ocean Spray with
more flexibility with its capital allocation priorities.

FULL LIST OF RATING ACTIONS

Fitch has affirmed Ocean Spray's ratings:
-- Long-Term IDR at 'BBB-';
-- $150 million 6.25% series A preferred stock at 'BB'.

The Rating Outlook is revised to Stable from Positive.


ON ASSIGNMENT: Moody's Affirms 'Ba2' Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service affirmed On Assignment, Inc.'s Corporate
Family Rating (CFR) at Ba2 and its Probability of Default Rating
(PDR) at Ba3-PD. Concurrently, Moody's affirmed the Ba2 rating of
the $578 million first lien term loan due 2022, and assigned a Ba2
rating to each of the proposed $822 million incremental first lien
term loan due 2025 and the extended $200 million revolver due 2023.
Moody's upgraded On Assignment's Speculative Grade Liquidity (SGL)
rating to SGL-1 from SGL-2. The ratings outlook is stable.

On Assignment is issuing the incremental term loan to finance its
acquisition of ECS Federal LLC (ECS) for $775 million. ECS, which
generated an estimated $586 million in revenue during 2017, is a
government services contractor that provides cybersecurity,
software development, and science and engineering solutions.
Subject to regulatory approvals, the transaction is expected to
close in early April 2018. Initially, the acquisition will be
funded via a partial draw on the incremental term loan and a seller
note. Shortly thereafter, the seller note would be refinanced and
the remainder of the incremental term loan drawn. Concurrent with
the closing of the transaction, On Assignment plans to change its
name to ASGN Incorporated.

The affirmation of On Assignment's Ba2 CFR reflects Moody's
favorable view of the ECS acquisition. It also reflects On
Assignment's commitment to reducing leverage, its solid free cash
flow generation and established record of deleveraging after prior
debt-funded acquisitions. The acquisition of ECS further increases
On Assignment's scale and provides an established, competitive
position in the government services contractor market. Pro forma
for the acquisition, On Assignment's debt-to-EBITDA (Moody's
adjusted, including stock-based compensation and capitalizing
operating leases), will increase to about 3.9x from about 2.2x
(based on estimated 2017 data). Although this level of leverage is
high for the rating level, the affirmation reflects Moody's
expectation for the company's leverage to decline to 3.3x by the
end of 2018 and below 3x by the end of 2019.

Upgrades:

Issuer: On Assignment, Inc.

-- Speculative Grade Liquidity Rating, Upgraded to SGL-1 from
    SGL-2

Assignments:

Issuer: On Assignment, Inc.

-- Senior Secured Bank Credit Facility, Assigned Ba2 (LGD3)

Outlook Actions:

Issuer: On Assignment, Inc.

-- Outlook, Remains Stable

Affirmations:

Issuer: On Assignment, Inc.

-- Probability of Default Rating, Affirmed Ba3-PD

-- Corporate Family Rating, Affirmed Ba2

-- Senior Secured Bank Credit Facility, Affirmed Ba2 (LGD3)

The following rating at On Assignment, Inc. remains unchanged and
will be withdrawn upon the closing of the transaction:

$200 million senior secured first lien revolving credit facility
due 2022 of Ba2 (LGD3)

RATINGS RATIONALE

On Assignment's Ba2 CFR reflects the company's position as one of
the leading providers of professional staffing services, large
operating scale in a fragmented industry, and focus on skills with
high bill rates that drive low double-digit EBITDA margins
supportive of strong free cash flow generation for deleveraging.
Moody's expects organic revenue growth at a rate in the mid-single
digit percentages over the next 12 to 18 months driven by demand
for information technology (IT) staffing in a growing US economy.
On Assignment operates in a highly competitive industry and over
the longer term, revenue growth will exhibit variability due to the
cyclical nature of demand for its staffing services and high
correlation with both US GDP and employment growth. The addition of
ECS provides diversification of key demand drivers since government
spending for its services is not dependent on the business cycle as
a primary driver. The ECS business provides a degree of revenue
visibility as average contract lengths are five years and the
company maintains a solid backlog. The IT staffing business
benefits from demand for professionals possessing specialized skill
sets driven by ongoing technology changes. As unemployment remains
low, the company's challenges include maintaining a large pool of
candidates with the skills that are in demand by its customers and
managing the bill/pay rate spread that drives its margins. Moody's
expects On Assignment to generate over $200 million in free cash
flow over the next 12 to 18 months that supports deleveraging
ability enabling deleveraging to the low 3x area.

The SGL-1 liquidity rating reflects On Assignment's very good
liquidity supported by strong free cash flow and availability under
its $200 million revolving credit facility due 2023.

The stable rating outlook reflects Moody's expectation that
revenues will grow at rates in the mid-single digits and that
debt-to-EBITDA will decline to the low 3x area over the next 12 to
18 months.

Factors that could lead to an upgrade include strong revenue and
earnings growth, Moody's expectation that debt-to-EBITDA will be
sustained below 2.5x, and free cash flow to debt above 15% while
maintaining good liquidity, including through a downturn.

Factors that could lead to a downgrade include a significant
deceleration in revenue growth, Moody's expectation that
debt-to-EBITDA will remain above 3.5x, free cash flow to debt below
8%, more aggressive financial policies including additional
leveraging acquisitions prior to debt reduction, or debt-financed
dividends or share repurchases.

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

On Assignment, headquartered in Calabasas, California, is a leading
professional staffing firm specializing in the technology,
engineering and life sciences, and creative/digital functions. The
company generated an estimated $2.6 billion of revenues in 2017.
Pro forma for the acquisition of ECS, estimated revenue measured
$3.2 billion and the company will have a significant position in
the market for government contractor services.


ON ASSIGNMENT: S&P Rates New $822MM Senior Secured Term Loan 'BB'
-----------------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue-level rating and '3'
recovery rating to On Assignment Inc.'s proposed $822 million
senior secured term loan due 2025. The '3' recovery rating
indicates our expectation for meaningful recovery (50%-70%; rounded
estimate: 50%) of principal in the event of a payment default.
The issue-level and recovery ratings are in line with S&P's
existing ratings on the company's $200 million senior secured
revolving credit facility and $594 million ($578 million
outstanding) senior secured term loan due 2022.

On Assignment will use the proceeds from the new issuance to fund
its $775 million acquisition of ECS Federal LLC, a federal IT
staffing provider, and to pay related fees and expenses.

  RATINGS LIST
  On Assignment Inc.
   Corporate Credit Rating                 BB/Stable/--

  New Ratings

  On Assignment Inc.
   Senior Secured
    $822 million term b loan due 2025      BB
     Recovery Rating                       3(50%)


ONCAM INC: TONN Investment to Auction Property on Feb. 14
---------------------------------------------------------
Craig K. Williams, Esq., as agent for TONN Investment LLC, the
secured party, is selling property of Oncam Inc. to the highest
qualified bidder on Feb. 14, 2018, starting at 1:30 p.m.  The
auction will be held at:

   Law Office of Snell & Wilmer LLP
   One Arizona Center, 400 East Van
   Buren, Phoenix, Arizona 85004
   Attn:  Craig K. Williams
   Tel: (602) 382-6331
   E-mail: ckwilliams@swlaw.com

The notification of disposition of the Debtor's property refers to
a certain Uniform Commercial Financing Statement by the Debtor, in
favor of a certain secured party, filed on June 28, 2016, as file
no. 20163886510, with the Delaware Secretary of State and filed on
June 30, 2016, as filed no. 2016-002-3904-7, with the Arizona
Secretary of State.

Headquartered in San Jose, California, Oncam Inc. --
http://www.oncam.com/-- develops a group video calling application
software.  The company was incorporated in 2012.


PATRIOT NATIONAL: Taps Prime Clerk as Claims Agent
--------------------------------------------------
Patriot National, Inc., received approval from the U.S. Bankruptcy
Court for the District of Delaware to hire Prime Clerk LLC as its
claims and noticing agent.

The firm will oversee the distribution of notices and the
maintenance, processing and docketing of claims filed in the
Chapter 11 cases of Patriot National and its affiliates.

The hourly rates charged by the firm are:

     Analyst                                  $30 - $50
     Technology Consultant                    $35 - $95
     Consultant/Senior Consultant            $65 - $165
     Director                               $175 - $195
     COO/Executive VP                         No charge
     Solicitation Consultant                       $190
     Director of Solicitation                      $210

Prior to their bankruptcy filing, the Debtors provided Prime Clerk
a retainer in the sum of $40,000.  

Shira Weiner, general counsel of Prime Clerk, disclosed in a court
filing that the firm is a "disinterested person" as defined in
section 101(14) of the Bankruptcy Code.

Prime Clerk can be reached through:

     Shira D. Weiner
     Prime Clerk LLC
     830 Third Avenue, 9th Floor
     New York, NY 10022
     Phone: (212) 257-5450

                    About Patriot National Inc.

Fort Lauderdale, Florida-based Patriot National, Inc. --
http://www.patnat.com-- through its subsidiaries, provides agency,
underwriting and policyholder services to its insurance carrier
clients, primarily in the workers' compensation sector.  It was
incorporated in Delaware in November 2013.  Patriot National
completed its initial public offering in January 2015 and its
common stock is listed on the New York Stock Exchange under the
symbol "PN."

Patriot National and its affiliates sought protection under Chapter
11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No. 18-10189)
on Jan. 30, 2018.  James S. Feltman, chief restructuring officer,
signed the petition.  

As of Dec. 31, 2017, the Debtors had $159,415,856 in assets and
$242,178,504 in liabilities.  

The Debtors hired Pachulski Stang Ziehl & Jones LLP and Hughes
Hubbard & Reed LLP as their bankruptcy counsel; and Duff & Phelps,
LLC as financial advisor.  Conway Mackenzie Management Services,
LLC is the provider of EVP of finance and related advisory
Services.


PAWN AMERICA: Unsecured Creditors to Get 10% to 15% Over 5 Years
----------------------------------------------------------------
Pawn America Minnesota, LLC, Pawn America Wisconsin, LLC, and
Exchange Street Inc.'s third modified disclosure statement provides
that Venture Bank no longer holds a claim in these Chapter 11
Cases, and any claim filed in these Chapter 11 Cases will be
withdrawn prior to the confirmation hearing. As such, the Debtors
are not providing for any treatment to Venture Bank and are not
soliciting its vote on the Plan.

Under the Third Modified Plan, General Unsecured Claims are
impaired.  Holders holders of Class C1 Claims (Allowed Unsecured
Claims against Pawn America Minnesota, LLC) will receive their pro
rata share of $347,826.09, paid in five installments of $69,565.22.
The first installment payment will be made on March 30, 2018 and
the four subsequent installment payments will be made on or before
March 30th of the four following years.  Pawn America Minnesota,
LLC believes that, after claim objections, setoffs, and other
adjustments, the overall return to Class C1 Claimants will range
between 10 and 15%.

Holders of Class C2 Claims (Unsecured Claims against Pawn America
Wisconsin, LLC) will receive their pro rata share of $102,173.91,
paid in five installments of $30,434.78. The first installment
payment will be made on March 30, 2018 and the four subsequent
installment payments will be made on or before March 30th of the
four following years. Pawn America Wisconsin, LLC believes that,
after claim objections, setoffs, and other adjustments, the overall
return to Class C2 Claimants will range between 10 and 15%.

Holders of the Class C3 Claims (Allowed Unsecured Claims against
Exchange Street, Inc.) will receive their pro rata share of 20% of
the gross estimated liquidation value of the assets owned by
Exchange Street, Inc. (the other 80% will go toward TBK's loan
balance). The gross liquidation value of the assets as of October
31, 2017 was $54,020.  The Debtors estimate a gross distribution to
Class C3 Claims in the amount of $10,000 on the Effective Date.

A hearing to consider confirmation of the plan was held on January
30, 2018 at 1:30 p.m. in Courtroom 2C, United States Courthouse,
316 North Robert Street, St. Paul, Minnesota.

A full-text copy of the Third Modified Disclosure Statement dated
December 21, 2017, is available at:

          http://bankrupt.com/misc/mnb17-31145-295.pdf

A full-text copy of the Third Modified Disclosure Statement dated
December 20, 2017, is available at:

          http://bankrupt.com/misc/mnb17-31145-290.pdf

A full-text copy of the Second Modified Disclosure Statement dated
December 14, 2017, is available at:

          http://bankrupt.com/misc/mnb17-31145-281.pdf

                      About Pawn America

Founded in 1991, Pawn America -- http://www.pawnamerica.com/-- is
engaged in the business of retail sale of used merchandise,
antiques, and secondhand goods.  It currently operates 24 stores in
Minnesota, Wisconsin, South Dakota, and North Dakota and employs
more than 500 people.  It also founded and operates Payday America,
CashPass and MyBridgeNow.

Pawn America Minnesota, LLC dba Pawn America, and its affiliates
Pawn America Wisconsin, LLC, and Exchange Street, Inc., filed
Chapter 11 petitions (Bankr. D. Minn. Lead Case No. 17-31145) on
April 12, 2017.  In the petitions signed by Bradley K. Rixmann,
chief manager, each of the Debtors estimated $10 million to $50
million in both assets and liabilities.

Stinson Leonard Street LLP serves as bankruptcy counsel to the
Debtors.  BGA Management, LLC, is the Debtors' financial advisor.

On April 25, 2017, the U.S. Trustee for Region 12 appointed an
official committee of unsecured creditors.  Foley & Mansfield,
PLLP, is bankruptcy counsel to the committee.  The Committee
retained Platinum Management, LLC as financial advisor.

                          *     *     *

On Aug. 10, 2017, the Debtors filed their joint Chapter 11 plan of
reorganization and liquidation.


PAYAM NAWAB: Bhat Buying Rockville Property for $197K
-----------------------------------------------------
Payam Nawab asks the U.S. Bankruptcy Court for the District of
Maryland to authorize the private sale of the real property located
at 10201 Grosvenor Place, #1125, Rockville, Maryland to Archana
Bhat for $197,000.

A hearing on the Motion is set for March 14, 2018 at 10:00 a.m.
The objection deadline is Feb. 21, 2018.

Among the assets the Debtor listed in the Debtor's Bankruptcy Case
was the Grosvenor Property.  The Grosvenor Property is an asset of
the Biabani Nawab Partnership, Tax EIN **-8884669.  Title to the
Grosvenor Property is held in the name of the Debtor and Borzou
Biabani as joint tenants.

The Debtor scheduled the Property as having a fair market value of
$239,846, subject to a mortgage with a balance of $170,928.  The
Debtor is listed on the title to the Grosvenor Property, but is not
liable on the mortgage loan held by Ocwen Loan Servicing, which is
the sole lien securing the Grosvenor Property.

On Jan. 22, 2018, Biabani entered into a Contract of Sale of the
Grosvenor Property to the Buyer, an unrelated third party, for the
sum of $197,000, with $10,000 earnest money.

The Debtor asks authority to sell the Grosvenor Property pursuant
to Section 363(b) of the Bankruptcy Code and to apply the proceeds
of the sale toward the satisfaction of all closing costs and the
secured claim held by Ocwen Servicing Center or any successor
lienholder.  The Debtor believes the Purchase Price to be fair and
reasonable and will be sufficient to satisfy the mortgage lien with
an approximate balance of $168,000, with the net proceeds being
divided equally between the Debtor and Biabani after payment of
closing costs.

Counsel for the Debtor:

          Gregory P. Johnson, Esq.
          8171 Maple Lawn Blvd., #200
          Fulton, MD 20759
          Telephone: (301) 575-0300
          Facsimile: (301) 575-0335
          E-mail: gjohnson@offitkurman.com

Payam Nawab sought Chapter 11 protection (Bankr. D. Md. Case No.
14-23775) on Sept. 4, 2014.  On Jan. 8, 2016, the Court entered an
order confirming the Debtor's the Chapter 11 Plan of
Reorganization.


PKC ENTERPRISES: Taps David L. Buterbaugh as Accountant
-------------------------------------------------------
PKC Enterprises Inc. received approval from the U.S. Bankruptcy
Court for the District of Arizona to hire David L. Buterbaugh,
P.C., as its accountant.

The firm will assist the company and its affiliates in preparing
their federal and state income tax returns due during the pendency
of their Chapter 11 cases.

The firm's hourly rates range from $115 to $195.  Merran Terrani,
the accountant who will be providing the services, will charge $185
per hour.  

Buterbaugh will receive a retainer in the sum of $5,000.

The firm is "disinterested" as defined in Section 101(14) of the
Bankruptcy Code, according to court filings.

Buterbaugh can be reached through:

     Merran Terrani
     David L. Buterbaugh, P.C.
     8040 East Morgan Trail, Suite 15
     Scottsdale, AZ 85258
     Tel: 480-905-3640
     Fax: 480-905-3642
     Email: merran@buterbaughcpa.com
     Email: dave@buterbaughcpa.com

                       About PKC Enterprises

Based in Yuma, Arizona, PKC Enterprises, Inc., d/b/a Diamond Brooks
Water -- http://diamondbrooks.com/-- is a family-owned company
that has been providing drinking water to homes and businesses for
over 28 years.  Diamond Brooks has 23 water vending kiosks and a
fleet of delivery trucks and employees that help produce and
deliver more than 38,000 gallons of water each day.

PKC Enterprises filed a Chapter 11 petition (Bankr. D. Ariz. Case
No. 17-13961) on Nov. 25, 2017.  The petition was signed by Philip
Clark, its president.  In its petition, the Debtor estimated
$500,000 to $1 million in assets and $1 million to $10 million in
liabilities.

The Hon. Brenda Moody Whinery presides over the case.

Thomas H. Allen, Esq., at Allen Barnes & Jones, PLC, serves as
bankruptcy counsel.  Kirk A. McCarville, P.C., is the special
litigation counsel.


PREFERRED VINTAGE: $4.3M Sale of Sonoma Property to Kashubas Okayed
-------------------------------------------------------------------
Judge Dennis Montali of the U.S. Bankruptcy Court for the Northern
District of California authorized Preferred Vintage, LLC's sale of
real property commonly described as 16490 Arnold Drive, Sonoma,
California, APN 133-010-045-000, to Dallas R. and Vida Kashuba for
$4,250,000.

A hearing on the Motion was held on Feb. 2, 2018 at 10:00 a.m.

The sale is free and clear of liens.

Preferred is authorized to pay directly from escrow: (i) Real
Property Taxes; (ii) all amounts due to USI Servicing, Inc., other
than the disputed interest (estimated to be $2,550,256 as of Jan.
31, 2018); (iii) Edward Keane; (iv) Sal S. Zagari; (vi) a sales
commission to Holly Bennett with Sotheby's International, a
California licensed Real Estate Broker, in an amount equal to 2.5%
of the sale price; (vi) a sales commission to Donald Van de Mark
with Sotheby's in an amount equal to 2.5% of the sale price; (vii)
all reasonable and customary escrow fees, recording fees, title
insurance premiums, and closing costs necessary and proper to
conclude the sale of the Property; (viii) $650,000 to Michael
Fallon, counsel for Preferred, and Simon Aron, counsel for USI
Servicing, Inc., solely in their capacity as counsel for their
respective clients, for deposit to an interest bearing, segregated
trust account at American River Bank to be held in trust pending
further order of the Court; and (ix) the net proceeds to Preferred
Vintage, LLC to be held in a DIP account pending further order of
the Court.

The disputed lien of USI Servicing, Inc. will attach to the
proceeds of sale held in the Trust Account by Michael Fallon and
Simon Aron with the same validity, priority and effect as existed
against the Property, with Debtor and USI Servicing, Inc. reserving
all of their respective rights, claims, causes of action, remedies
and defenses regarding the disputed lien proceeds.

                     About Preferred Vintage

Headquartered in Greenbrae, California, Preferred Vintage LLC filed
for Chapter 11 bankruptcy protection (Bankr. N.D. Cal. Case No.
17-31106) on Nov. 1, 2017.  In the petition signed by Greg Hoffman,
managing member, the Debtor estimated assets and liabilities at $1
million to $10 million.  Judge Dennis Montali presides over the
case.  Michael C. Fallon, Jr., serves as counsel to the Debtor.

                          *     *     *

On Nov. 17, 2017, the Debtor filed a Chapter 11 plan of
reorganization and disclosure statement.


PREMIER PCS OF TX: $560K Sale of Eight Stores to Ung Tak Han Okayed
-------------------------------------------------------------------
Judge H. Christopher Mott of the U.S. Bankruptcy Court for the
Western District of Texas authorized Premier PCS of TX, LLC's sale
of eight stores: (i) Store 201 located at 1360 Rio Rancho Blvd SE,
Rio Rancho, New Mexico; (ii) Store 202 located at 4410 Wyoming Blvd
NE, Suite H, Albuquerque, New Mexico; (iii) Store 203 located at
2003 Southern Blvd, Suite 104, Rio Rancho, New Mexico; (iv) Store
204 located at 5604 Menaul Blvd NE, Albuquerque, New Mexico; (v)
Store 205 located at 5150 E Main Street, Suite 111, Farmington, New
Mexico; (vi) Store 206 located at 1245 W Apache Street, Suite 105,
Farmington, New Mexico; (vii) Store 207 located at 3000 E 20th
Street, Suite D, Farmington, New Mexico; and (viii) Store 208
located at 1145 South Camino Del Rio, Suite D, Durango, Colorado to
Ung Tak Han or designee Telecell NM, LLC, for $560,000.

A televideo hearing on the Motion was held on Jan. 29, 2018.

The sale is free and clear of liens and interests.

The assets being sold include the furniture, window treatments,
fixtures, equipment, Alphacomm accessories for cell phone
demonstration, and signage belonging to the Debtor at each store
location, plus the rights of the Debtor in the Metro PCS cellular
telephone dealerships at each of the eight locations.  The Metro
PCS dealerships are subject to the regular terms and conditions of
such dealerships.  

The Debtor has represented that Mssrs. Han and Yi or entities
controlled by them are already approved Metro PCS dealership owners
at other locations and that Metro PCS, which has been notified of
the Motion to Sell and Assign, has not objected and consents to the
sale and assignment.  

The transaction also includes the assignment of all of the Debtor's
rights and interests in the leases of the eight stores, subject to
the consent of the landlords.  Those that have asked for qualifying
fees are to be paid by Telecell NM, LLC.  The rent for each lease
is to be prorated to the date of closing.  The security deposits on
hand with each landlord are to be assigned to Telecell in exchange
for part of the consideration being paid to the Debtor.  The
assigmnent is not to operate by itself as a release of the Debtor's
or Richard Ahn's liability upon the leases, where applicable, in
the event of default thereon by Telecell.

The assignment potion of the transaction also includes the right to
offer continuing employment to any of the employees the Debtor has
at any of the eight stores.  It will be up to Telecell to obtain
promptly new utility services for electricity, gas, water, garbage
sewer, and telephone as applicable at each store.  Any new utility
deposits will be paid by Telecell.  Any refunds of utility deposits
are to go to the Debtor.  The Debtor will timely pay all utilities
to date of closing, as nearly as practicable.

The transaction does not include the Debtor's inventory of cell
phones.  The sale does include the on-hand Alphacomm accessories
used in demonstrating for those cell phones.  Neither does this
transaction include any accounts receivable or accounts payable of
the Debtor.  The Debtor is to remove its existing inventory and
those records to its other locations.  It will be up to the Debtor
to pay all operating costs of each store, up to the date of
closing.  It will dispose of all trash and throwaways prior to
leaving the lease premises, in clean condition.  

All assets and interests being purchased and assigned are to be
accepted as is, where is.  Telecell is solely responsible for
investigating the value and condition of the assets and interests.
The closing is to be implemented through standard forms of
assignment and purchase documents.  Each side will pay its own
counsel for their preparation and/or review and for their
recording.  The closing is to take place as soon as practicable at
a location of the parties' choosing.  The Court, at the request of
the Debtor made in open Court, is not insisting that the Order be
entered for at least 14 days without an appeal being filed, before
closing may occur.  The sale price is $560,000, to be paid in cash,
including Telecell's earnest money.  The sale must include all
eight stores, according to the intentions of the parties as
expressed in the attached Asset Acquisition Agreement dated Jan.
24, 2018.

From the closing, the Debtor is to disburse funds as follows: (i)
$10,000 to E.P. Bud Kirk, its attorney, to defray the fees and
expenses incurred in bringing about and implementing this
transaction; (ii) $400,000 to the first lienholder Metro PCS; and
(iii) sufficient stuns to third parties (including local ad valorem
taxing entities) who require contemporaneous payment for the
ordinary expenses of changing and concluding the ownership of the
assets and interests being transferred.

From the remainder of the sale proceeds, the Debtor is to reserve
the following:

     i. $60,000 to cover estimated United States Trustee's fees for
the first quarter of 2018, which will be paid when due. Any part of
the $60,000 not needed to cover the actual first quarter United
States Trustee's fees is to be kept in reserve for timely payment
of second quarter 2018 United States Trustee's fees.

    ii. $30,000, less the costs described, may be used when needed
for operations in the regular course.

   iii. The balance is to remain unspent, and subject to the liens
of record on petition date in this case, pending further orders of
the Court.

The parties will do everything necessary and proper to effectuate
the Sale and Assignment, and in the event of any overlooked details
each side will make a good faith effort to close this transaction
fairly and equitably.

The counsel for the Debtor will forward a copy of the Order to all
landlords, utility companies, lienholders, and other parties in
interest directly affected by it.

                     About Premier PCS of TX

Based in El Paso, Texas, Premier PCS of TX, LLC, provides computer
maintenance and repair services.  Premier PCS of TX, based in El
Paso, TX, filed a Chapter 11 petition (Bankr. W.D. Tex. Case No.
17-32021) on Dec. 6, 2017.  In the petition signed by Richard Ahn,
managing member, the Debtor estimated $500,000 to $1 million in
assets and $1 million to $10 million in liabilities.  The Hon.
Christopher H. Mott presides over the case.  E.P. Bud Kirk, a
partner at the law firm of E.P. Bud Kirk, serves as bankruptcy
counsel.


RAGGED MOUNTAIN: Seeks Access to Cash Collateral Through April 30
-----------------------------------------------------------------
Ragged Mountain Equipment, Inc., seeks authorization from the U.S.
Bankruptcy Court for the District of New Hampshire to use cash
collateral during the first interim period, from February 12, 2018
through April 30, 2018.

In addition to a retail store and on-line store, the Debtor
manufactures products under its own label and also for LLBean
through its manufacturing division. The manufacturing division,
however, is fairly robust and there are approximately $500,000 in
orders from LLBean at this time. The Debtor believes the LLBean
orders can sustain it in the short term. Accordingly, the Debtor
seeks an order allowing it to use cash collateral for the first
interim period to avoid immediate and irreparable harm to its
business.

The Debtor does have several prepetition secured creditors with
liens on its assets, but they are junior in priority to senior
secured lenders.

The Debtor's first lien holder is Eastern Bank, which is owed
approximately $330,000; the Debtor's second all asset lien holder
is Northway Bank, who is owed approximately $100,000 on a line of
credit; and the Debtor's third all asset lien holder is Mount
Washington Valley Economic Council, who is owed $88,869.

The Debtor believes these are the only secured creditors whose
liens could possibly attach to any assets since their claims total
in the aggregate $518,869 against a maximum value of $154,646 to
$472,724 (100% value for inventory) of collateral value.

The Debtor will provide Eastern Bank and all junior lienholders, in
the same order of priority and to the extent their claims attach to
any equity under 11 U.S.C. Section 506(b), replacement liens in its
assets consistent with each lender’s prepetition lien. In
addition, the Debtor will provide monthly reports that are provided
to the U.S. Trustee's Office and other reports required by the
Court.

The Debtor's counsel has no retainer and requests the Court
authorize a retainer post-petition of $5,000 per month to be held
by counsel until approval of fees, as reflected in the budget.

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

           http://bankrupt.com/misc/nhb18-10091-24.pdf

                About Ragged Mountain Equipment

Ragged Mountain Equipment, Inc., doing business as Durable Designs
-- http://raggedmountain.com/-- operates a sporting goods store in
Intervale, New Hampshire.  The company offers equipment for
camping, climbing, skiing, and pets such as handwear, gaiters,
headgear, luggage and buckles.
  
Ragged Mountain Equipment and its affiliate Hurricane Mountain
Equipment LLC filed Chapter 11 petitions (Bank. D.N.H. Case Nos.
18-10091 and 18-10092) on Jan. 25, 2018.

In the petitions signed by Robert D. Nadler, authorized
representative, Ragged Mountain disclosed $627,408 in assets and
$2,060,000 in liabilities; and Hurricane Mountain estimated
$500,000 to $1 million in assets and $500,000 to $1 million in
liabilities.

The Debtors are represented by Steven M. Notinger, Esq. of Notinger
Law, PLLC.


REAL INDUSTRY: S&P Withdraws 'D' Corporate Credit Rating
--------------------------------------------------------
S&P Global Ratings withdrew all of its ratings on Real Industry
Inc., including its 'D' corporate credit rating on the company and
its 'D' issue-level ratings on the company's senior secured notes.

On Nov. 17, 2017, S&P lowered its corporate credit rating on Real
Industry Inc. to 'D'  and its issue-level rating on the company's
senior secured notes due 2019 to 'D', following its voluntary
Chapter 11 reorganization on Nov. 17, 2017. The company has not
emerged from bankruptcy as of February 6, 2018.


REVLON INC: S&P Cuts CCR to CCC+ on High Leverage, Outlook Stable
-----------------------------------------------------------------
S&P Global Ratings lowered its corporate credit rating on
U.S.-based Revlon Inc. to 'CCC+' from 'B-'. The outlook is stable.

S&P said, "In addition, we lowered our issue-level rating on the
company's $1.8 billion term loan B to 'CCC+' from 'B-'. The '3'
recovery rating remains unchanged, indicating our expectation for
meaningful (50%-70%; rounded estimate: 50%) recovery in the event
of a payment default.

"Concurrently, we lowered our issue-level rating on the company's
$500 million notes due 2021 and $450 million notes due 2024 to
'CCC' from 'CCC+'. The recovery rating on both remains '5',
reflecting our expectation for modest (10%-30%; rounded estimate:
15%) recovery of principal in the event of a payment default.

"Our rating action reflects our belief that Revlon's operating
performance will remain weak and that debt leverage will remain
very high at roughly 9x in the upcoming year. We believe the
company is dependent on better customer traffic trends and its
ability to gain shelf space to meet its financial commitments.
However, we believe the company has adequate liquidity for the next
year to meet its funding needs.  

"The outlook is stable and reflects our expectation for modest
performance gains during 2018 as the company benefits from
initiatives to revitalize its brands, faces lower restructuring
costs, and realizes incremental cost synergies from the
acquisition. We expect the company to strengthen its cash flow
generation and maintain adequate liquidity during 2018.

"We could consider a lower rating if the company fails to
strengthen its sales and margins because of intense competition in
the industry such that it continues to generate negative free
operating cash flows in fiscal 2018.

"We could consider a positive rating action if we believe the
company will improve its debt leverage toward 8x while consistently
generating positive free operating cash flows. Given that we expect
only modest deleveraging during 2018, we forecast that reduction in
debt leverage toward 8x could occur in the early of 2019 assuming
the company meets our base case forecast."


RMG ENTERPRISES: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------------
The Office of the U.S. Trustee on Feb. 6 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of RMG Enterprises, LTD.

                      About RMG Enterprises

Headquartered in Fredericksburg, Virginia, RGM Enterprises, Ltd.,
t/a Commonwealth Carrier -- http://commonwealthcarrier.net/--
provides time-sensitive transposition, merging, and transshipment
services; specialized handling of fragile materials; handling,
reporting, and  inventory of products; customized transportation of
unique products; reload, storage, inventory and distribution of
rail delivered products; and a unique 24/7/365 emergency service
for its small client base.  The company's 4.5-acre Fredericksburg,
Virginia complex has a 55,000 sq. ft. warehouse with an acre of
dedicated paved and lighted yard.  RGM has been providing "Uncommon
Services" since 1973.

RGM Enterprises filed for Chapter 11 bankruptcy protection (Bankr.
E.D. Va. Case No. 17-36349) on Dec. 27, 2017, listing $622,087 in
total assets as of Nov. 30, 2017, and $1.37 million, in total
liabilities as of Nov. 30, 2017.  Patrick F. Smith, president,
signed the petition.  Robert B. Easterling, Esq., in
Fredericksburg, Virginia, serves as counsel to the Debtor.


ROBERT E. HICKS: U.S. Trustee Forms Two-Member Committee
--------------------------------------------------------
John P. Fitzgerald, III, Acting U.S. Trustee for Region 4, on Feb.
6 appointed two creditors to serve on the official committee of
unsecured creditors in the Chapter 11 case of Robert E. Hicks

The committee members are:

     (1) BMC East, LLC
         c/o Elizabeth (Beth) S. Williams

     (2) Mark K. Brown

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at a debtor's
expense.  They may investigate the debtor's business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.

Robert E. Hicks filed for Chapter 11 bankruptcy protection (Bankr.
E.D. Va. Case No. 18-30214) on Jan. 16, 2018.  Robert A. Canfield,
Esq., at Canfield, Baer, & Heller, LLP, serves as the Debtor's
bankruptcy counsel.


ROBERTSHAW US: Moody's Assigns B2 CFR & Rates 1st Lien Debt B1
--------------------------------------------------------------
Moody's Investors Service assigned a B2 Corporate Family Rating
(CFR) and B2-PD Probability of Default Rating to Robertshaw US
Holding Corp. (NEW) (Robertshaw). At the same time, Moody's
assigned a B1 rating to Robertshaw's proposed first-lien senior
secured term loan and a Caa1 rating to its proposed second-lien
senior secured term loan. The rating outlook is stable.

The rating assignments follow the company's plan to raise $605
million of new senior secured debt -- a $480 million first-lien
term loan and a $125 million second-lien term loan -- supported by
new sponsor equity to fund the acquisition of Robertshaw by One
Rock Capital Partners, LLC (One Rock) from Sun European Partners,
LLP (Sun Capital). The purchase agreement includes an earn-out
provision potentially payable to Sun Capital during Robertshaw's
2020 fiscal year.

The acquisition involves only a change in ownership and $25 million
of additional debt -- operationally there is no change.

Upon closing of this transaction, Moody's expects to withdraw all
ratings associated with the previous capital structure and
ownership, namely the B2 CFR, B2-PD Probability of Default Rating,
B1 $470 million first-lien term loan, Caa1 $110 million second-lien
term loan and stable rating outlook.

Moody's assigned the following ratings to Robertshaw US Holding
Corp. (NEW):

- Corporate Family Rating, assigned at B2

- Probability of Default Rating, assigned at B2-PD

- First-Lien Gtd Senior Secured Term Loan assigned at B1 (LGD3)

- Second-Lien Gtd Senior Secured Term Loan assigned at Caa1
   (LGD5)

- Rating outlook stable

Moody's expects to withdraw the following ratings of Robertshaw US
Holding Corp. upon transaction close:

- B2 Corporate Family Rating

- B2-PD Probability of Default Rating

- B1 (LGD3) $470 million First-Lien Gtd Senior Secured Term Loan

- Caa1 (LGD5) $110 million Second-Lien Gtd Senior Secured Term
   Loan

- Stable outlook

RATINGS RATIONALE

The B2 CFR reflects Robertshaw's high pro forma debt-to-EBITDA
(near 6x incorporating Moody's standard adjustments and the
expected earn-out obligation), limited scale (approximately $550
million of revenues) with a niche focus, exposure to cyclical
consumer spending on appliances, vulnerability to customer price
concessions and an aggressive financial policy. In addition, free
cash flow has been limited and volatile historically, impacted by
large working capital swings. Moody's anticipates higher, more
consistent free cash flow levels going forward as outlays to
restructure operations are completed and the company realizes the
full benefit of its margin gains.

Robertshaw provides parts/products such as gas valves, top burners,
thermostats, electronic control panels, water valves and ignition
controls to original equipment manufacturers (OEMs) that are
integral to regulating larger electrical or mechanical equipment
and processes such as appliances and heating, ventilation and air
conditioning (HVAC) systems. The rating is supported by the
company's leading market share positions, end markets that are
expected to grow modestly along with GDP over the next few years,
longstanding relationships with a reputable customer base and an
improving fixed-to-variable cost structure. Favorable end-market
fundamentals such as an aging installed base (i.e. pent up
replacement demand) of residential appliances and commercial HVAC
systems as well as continued strength in home renovation spending
and housing starts support growth prospects and deleveraging. Free
cash flow and potential revolver borrowings will likely be devoted
to funding the expected earn-out obligation, and debt-to-EBITDA
leverage should decline to a level more in-line with Moody's
expectations for the rating within the next 12-18 months given the
company's operating profile.

A largely completed transformation of its cost structure, combined
with fairly robust new product introductions, has the company
better positioned to offset the ongoing impact from customer price
concessions. Continuous improvement initiatives will also help
mitigate potential pricing pressure. Margins are periodically
impacted by sharp fluctuations in commodity prices (copper,
aluminum and brass), but the company has options such as pricing
escalators and/or pass-through options built into some contracts to
mitigate the impact with a lag. After markedly improving from the
initial impact of the transformation initiatives, Moody's expects
margins to hold steady with more modest gains over the next two
years.

Robertshaw's adequate liquidity is supported by approximately $2
million of cash on the balance sheet at December 31, 2017 (pro
forma for the proposed refinancing) and Moody's expectations for
annual free cash flow in the $40 million range over the next 18
months. The company has a $50 million asset-based lending (ABL)
facility, set to expire in 2023 (undrawn at transaction close). The
ABL is subject to a springing covenant - minimum fixed charge
coverage ratio of 1.0x - tested only if excess availability is less
than a specified amount. The term loans do not have financial
maintenance covenants. There are no near-term debt maturities and
less than $5 million of annual amortization payments required on
the first-lien term loan. With the ABL and secured term loans,
substantially all assets are pledged.

The rating outlook is stable, reflecting Moody's expectations that
revenue growth will continue at levels consistent with normal GDP
expansion and margins will trend slightly higher over the next two
years. Free cash flow generation should steadily increase to a
level consistently exceeding 3% of debt by the end of fiscal year
2019 (March 2019) with stronger earnings and moderate capital
expenditure needs that are expected to run at 2-3% of revenues.

Higher than anticipated growth in revenues and margins, buoyed by
expanding end market opportunities and/or a growing pipeline of new
product introductions, could result in an upgrade. Debt-to-EBITDA
below 5x on a sustained basis and free cash flow-to-debt in the
high-single digit range would also be necessary for an upgrade.
Additionally, accelerated penetration into the high-margin electric
vehicle market would be viewed favorably. The ratings could be
downgraded if debt-to-EBITDA remains above 5.75x or if the EBITDA
margin falls as a result of the inability to offset customer price
concessions. The lack of positive and increasing free cash flow
generation as well as organic revenue growth as expected, or a
weaker liquidity profile, would also place downward pressure on the
ratings.

Robertshaw Holdings S.a.r.l. designs and manufactures
electro-mechanical solutions, mechanical combustion systems, and
electrical controls primarily for use in residential and commercial
appliances, HVAC and transportation applications. Pro forma
revenues for the latest twelve months ended December 31, 2017 were
approximately $555 million.

The principal methodology used in these ratings was Global
Manufacturing Companies published in June 2017.


ROBERTSHAW US: S&P Rates $480MM 1st Lien Loan Due 2025 'B'
----------------------------------------------------------
S&P Global Ratings removed its 'B' corporate credit rating on
Robertshaw Holdings S.a.r.l, the Luxembourg-domiciled parent of
Robertshaw US Holding Corp., and all of its issue-level ratings on
the issuer's existing debt from CreditWatch, where S&P placed them
with negative implications on Jan. 5, 2018, and affirmed them. The
outlook is stable.

S&P said, "At the same time, we assigned our 'B' issue-level rating
and '3' recovery rating to Robertshaw US Holding Corp.'s proposed
$480 million first-lien term loan due 2025. The '3' recovery rating
indicates our expectation for meaningful (50%-70%; rounded
estimate: 60%) recovery for lenders in the event of a payment
default.

"In addition, we assigned our 'CCC+' issue-level rating and '6'
recovery rating to the company's proposed $125 million second-lien
term loan due 2026. The '6' recovery rating indicates our
expectation for negligible (0%-10%; rounded estimate: 5%) recovery
for lenders in the event of a payment default.

"We intend to withdraw our ratings on the company's existing debt
once the transaction is completed, which we expect to occur in the
first quarter of 2018. The transaction is subject to customary
closing conditions and requires regulatory approval in the U.S.,
Mexico, and Turkey.

"Our ratings on Robertshaw reflect the company's relatively high
debt leverage, its potentially aggressive financial policies (due
to its ownership by a financial sponsor), and its dependence on
cyclical housing starts and consumer spending levels (as housing
starts and consumer spending influence the demand for the home
appliances and commercial applications that Robertshaw's products
are made for).

"The stable outlook on Robertshaw reflects our expectation that the
company will reduce its debt following its sale to One Rock.
Specifically, we expect that it will maintain adjusted
debt-to-EBITDA of less than 7x as the healthy global economy and
favorable durable goods orders and consumer sentiment promote
strong demand for its valves and control products.

"Despite the slower-than-expected production of electric vehicles
and the dip in U.S. new home starts in December, we anticipate that
the demand for home appliances and HVAC units will remain solid in
2018. The company's footprint optimization and continued focus on
procurement and other cost savings should also support its
operating performance.

"We could lower our ratings on Robertshaw if a significant decline
in its earnings or a large debt-financed acquisition or shareholder
return cause its total debt-to-EBITDA to exceed 7x without clear
prospects for recovery. This could occur if the company faces
operational challenges following unexpected volume declines caused
by reduced sales of home and commercial appliances, a significant
increase in metals prices and other costs, the loss of key
customers, or an inability to win business on new product
platforms. Based on our downside scenario, this could occur if
Robertshaw's revenue and operating margins both weaken by more than
200 basis points (bps).

"While Robertshaw's credit measures could improve meaningfully if
the projected growth of its electric vehicle sales comes to
fruition and its cost structure remains manageable, we would likely
require One Rock to commit to more conservative financial policies
before we would consider upgrading the company."

For a modest upgrade, the company would need to commit to--and
demonstrate a track record of--operating with debt-to-EBITDA of
4x-5x, a FFO-to-debt ratio at the higher end of the 12%-20% range,
and a consistently positive free cash flow-to-debt ratio with no
prospects for material deterioration over the near term. A more
significant upgrade would depend on whether the company can
meaningfully strengthen its business risk profile by enhancing its
scale, increasing its market share, or improving its pricing and
operating efficiencies.


ROCK STAR CHEF: Plan Outline Has Conditional Court Approval
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico
conditionally approved the disclosure statement explaining Rock
Star Chef Corporation's small business plan of reorganization.

The Plan proposes a 2.05% recovery for holders of general unsecured
claims.

Class 1 - Holders of General Unsecured Claims are impaired and will
receive payment 2.05% of their Allowed Claims within the 30 days
after the Effective Date of the Plan, without interest.  Allowed
general unsecured claims total $48,777.69.

Holders of Allowed Priority Tax Claims will be paid prorata in
deferred equal consecutive monthly installments of $2,348.00
commencing on the 7th month after the Effective Date of the Plan
and continuing on the last day of each month thereafter over a
60-month period after the Effective Date, equal to the full amount
of such Allowed claim plus 3.5% per annum interest.  Payment in
favor of priority creditor "Centro de Recaudacion de Ingresos
Municipales" ("CRIM") for $385.36 will be made on the Effective
Date of the Plan.

The source of payments under the proposed Plan will come from the
operation of Debtor's business.

A full-text copy of the Disclosure Statement is available at:

          http://bankrupt.com/misc/prb17-03998-39.pdf

                   About Rock Star Chef Corp

Rock Star Chef Corporation operates a restaurant under the name
SODA at Calle Cuevillas, No. 562 Miramar, San Juan, Puerto Rico.
Rock Star Chef filed a Chapter 11 bankruptcy petition (Bankr.
D.P.R. Case No. 17-03998) on June 2, 2017, estimating less than $1
million in both assets and liabilities.  The Debtor is represented
by Noemi Landrau Rivera, Esq., at Landrau Rivera & Assoc.


RYDER MEMORIAL: S&P Lowers 1994A Bonds Rating to CCC+, Off Watch
----------------------------------------------------------------
S&P Global Ratings lowered its bond ratings on Puerto Rico
Industrial Medical & Higher Education & Environmental Pollution
Control Facilities Finance Authority's series 1994A bonds, issued
for Ryder Memorial Hospital, to 'CCC+' from 'B+'. S&P Global
Ratings removed the ratings from CreditWatch, where they were
placed with negative implications Oct. 31, 2017. The outlook is
negative.

S&P said, "The downgrade reflects our view of Ryder's weakened
operating and financial profiles and ongoing uncertainty related to
the hospital's ability to return to full operations following the
devastating impact of Hurricane Maria. Management indicates Ryder's
main hospital is significantly damaged, having been closed since
the storm. Working from a temporary location, outpatient
services are open, but inpatient services have been very limited.
Ryder continues to rely on generators for power, because there is
still no electricity across much of the island, especially in the
hospital's service area. In addition, management has been unable to
provide us with updated financial statements. Management has
indicated it will pay its next debt service payment through its
debt service reserve fund. We believe Ryder is vulnerable to
default given the catastrophic damage to the hospital's operations
and cash flow, combined with the very limited liquidity. In our
view, there is a moderate likelihood that Ryder will not make debt
service payments in the next two years, because the recovery will
be long and volumes and cash flow are very weak."

The hospital's operating profile includes a dominant market share
across a large primary service area, although its population
continues to decline and carries weak wealth and income indicators.
In recent years, Ryder's financial profile has been vulnerable,
with weak financial operating performance and
thin balance-sheet metrics for the rating level. The hospital's
revenue base is small and relies heavily on government
reimbursement. Although insurance is covering hurricane damage,
management indicated there are potential delays in the payment of
proceeds, which could affect the timing of the facility's repairs
and further stress Ryder's operating profile. Given these expected

delays, overall liquidity has declined to the point where
management will pay debt service from the debt service reserve.
Although it has not seen formal financial results, S&P believes the
draw means the hospital has a bare minimum of working capital and
little-to-no reserves.

The negative outlook reflects the uncertainty of Ryder's ability to
resume historical operations and volumes, both of which were
strained prior to the hurricane. Furthermore, delays in insurance
proceeds and government aid, coupled with extensive repairs to the
facility, will likely mean liquidity and operational capacity will
remain at dangerously low levels indefinitely. Together, these
factors threaten the hospital's ability to pay its debt service
payments.

S&P said, "We could lower the rating if Ryder's financial profile
indicates a greater likelihood of default on its bond
obligations."

While a higher rating is unlikely in the outlook period, an outlook
revision to stable is possible if Ryder stabilizes factors that
will lead to a near-term rebound of volumes, revenue, and
operations. In addition, if the hospital generates even a modest
increase in unrestricted reserves, S&P would view this favorably in
combination with stabilized operations.


SAMUEL WYLY: Fain Buying Arlington Stoneridge Interest for $68K
---------------------------------------------------------------
Samuel Evans Wyly and Robert Yaquinto, Jr., the duly-appointed
chapter 7 Trustee of Caroline D. Wyly, ask the U.S. Bankruptcy
Court for the Northern District of Texas to authorize the private
sale of their interest in Arlington Stoneridge Associates, Ltd. to
Virginia Fain for $67,500.

Objections, if any, must be filed within 21 days from the date the
Motion was served.

In 1979, the Debtor and Charles Wyly both invested in the Arlington
Stoneridge, which owns a strip shopping center, consisting of two
buildings, at 2306 S. Collins St., in Arlington, Texas.
Originally, they each purchased one "unit" interest in Arlington
Stoneridge.

In 1992, pursuant to his divorce with Victoria Wyly, the Debtor
assigned one half of his interest in Arlington Stoneridge to
Victoria Wyly, leaving him with one-half unit interest in Arlington
Stoneridge.

On Feb. 27, 2015, Sam Wyly filed his Amended Schedules of Assets
and Liabilities.  In his amended Exhibit B-14, reflecting interests
in partnerships or joint ventures, Sam Wyly listed "Arlington
Stonebridge," with a current value of $34,867.

On Dec. 19, 2016, following the conversion of Dee's Case to chapter
7, Dee Wyly filed her schedules and statements.  In Schedule A/B,
she listed LP Interest in Arlington Stoneridge Associates, with a
current value of $74,576.

On information and belief, for a number of years, the Shopping
Center has been distressed, and the general income level of
residents in the surrounding neighborhood has declined.
Additionally, on information and belief, although the Shopping
Center is seeking new tenants, it is currently only 35% occupied.
Further, on information and belief, administrative and other
expenses related to leasing the Shopping Center in the future will
further burden Arlington Stoneridge.  

Haydn Cutler Co. serves as property manager, leasing agent and
general partner for Arlington Stoneridge.  On information and
belief, with the Shopping Center vacancies, Arlington Stoneridge's
limited cash flow, the decline of the surrounding neighborhood, and
the reduced marketability of the Shopping Center, Haydn has
assisted with the sale of other limited partners' interests.
Recent purchases of interests in Stoneridge Arlington include:
one-third of a unit for $15,000 in September 2017; one unit for
$42,500 in September 2013; and four units for $188,000 in April
2008.  Haydn has provided an executive summary of the Wyly
interests in Arlington Stoneridge, including recent transfers of
interests in partnership units.

The proposed Buyer, Ms. Fain, who currently owns a small interest
in Arlington Stoneridge, has offered to purchase the Debtor's half
unit for $22,500 and the unit owned by Charles Wyly's Probate
Estate for $45,000, which is consistent with recent purchases of
partnership interests in Arlington Stoneridge.  The sale will be
free and clear of interests.  On information and belief, the Buyer
is fully capable and ready to close on the sale of the Wyly
interests in Arlington Stoneridge.

The Buyer is not a member of the Wyly family or affiliated with any
Wyly entity.  With respect to the sale of Sam Wyly's half-unit
interest in Arlington Stoneridge, the Department of Justice has
given its approval to such sale as outlined.

The Movants, in their sound business judgment, believe that the
private sale of the Arlington Stoneridge Interests to the Buyer as
set forth maximizes the value received by the estate.
Additionally, the Sale as proposed herein will eliminate any
potential future financial burdens and administrative expenses of
Sam Wyly and the Probate Estate, and therefore the Dee Wyly estate,
in relation to their Arlington Stoneridge Interests.  Accordingly,
the proposed Sale of the Arlington Stoneridge Interests has a sound
business justification and should be approved.

The Movants ask that the order approving the sale be effective
immediately by providing that the 14-day stay under Bankruptcy Rule
6004(h) is waived.  So that the Debtors' estates may avoid any
further administrative or related expenses in relation to Arlington
Stoneridge, waiver of the stay is justified.

                         About Sam Wyly

Samuel Wyly is a lifelong entrepreneur and author.  His first book,
1,000 Dollars & An Idea, is a biography that tells his story of
creating and building companies, including University Computing,
Michaels Arts & Crafts, Sterling Software, and Bonanza Steakhouse.
His second book, Texas Got It Right!, co-authored with his son,
Andrew, was gifted to roughly 450,000 students and teachers,
thought leaders, and readers, and continues to be a best-seller in
its Amazon category.

In September 2014, a federal judge ordered Mr. Wyly and the estate
of his deceased brother to pay more than $300 million in sanctions
after they were found guilty of committing civil fraud to hide
stock sales and nab millions of dollars in profits.

Samuel Wyly filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Tex. Case No. 14-35043) on Oct. 19, 2014, weeks after a judge
ordered him to pay several hundred million dollars in a civil fraud
case.

On Oct. 23, 2014, Dee Wyly filed her voluntary petition for relief
under chapter 11 of the Bankruptcy Code, thereby initiating her
bankruptcy case.

On Nov. 10, 2014, the Court ordered "the procedural consolidation
and joint administration of the chapter 11 cases of Samuel E. Wyly
and Caroline D. Wyly [under] Case No. 14-35043."

On Dec. 2, 2014, the Court entered an order appointing an official
committee of unsecured creditors in Sam's Case.

On Nov. 23, 2016, the Court converted Dee's Case to a case under
chapter 7 of the Bankruptcy Code and terminated the joint
administration of the bankruptcy cases.  Robert Yaquinto, Jr., was
subsequently appointed as the chapter 7 trustee to administer Dee
Wyly's bankruptcy estate.


SANCHEZ ENERGY: Moody's Rates Proposed $400MM 1st Lien Notes 'B1'
-----------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to Sanchez Energy
Corporation's (SN) proposed $400 million first lien notes due 2023.
Moody's also affirmed Sanchez's B3 Corporate Family Rating (CFR),
its B3-PD Probability of Default Rating (PDR), its Caa1 senior
unsecured rating and its SGL-3 Speculative Grade Liquidity. The
outlook remains stable. Sanchez will use the proceeds of the notes
offering to effectively replace its secured borrowing base
revolving credit facility.

"Sanchez's ratings reflect its single basin concentration in the
Eagle Ford Shale, and high debt levels relative to profitability,
cash flow and proved developed (PD) reserves," commented Andrew
Brooks, Moody's Vice President. "Moreover, while the company has
generated strong production growth through its acquisition of
additional Eagle Ford acreage in March 2017, a large portion of the
cash flow generated by this production is unavailable to service
Sanchez's existing debt by virtue of the structure employed to
finance this acquisition."

Assignments:

Issuer: Sanchez Energy Corporation

-- Senior Secured First Lien Notes, Assigned B1 (LGD2)

Outlook Actions:

Issuer: Sanchez Energy Corporation

-- Outlook, Remains Stable

Affirmations:

Issuer: Sanchez Energy Corporation

-- Probability of Default Rating, Affirmed B3-PD

-- Speculative Grade Liquidity Rating, Affirmed SGL-3

-- Corporate Family Rating, Affirmed B3

-- Senior Unsecured Notes, Affirmed Caa1 (LGD4)

RATINGS RATIONALE

Sanchez's B3 CFR reflects its single basin concentration, elevated
leverage metrics and structural complexity. However, Sanchez's
strategic partnership with funds managed by Blackstone Energy
Partners (Blackstone) to acquire in March approximately 155,000 net
acres in the Western Eagle Ford Shale considerably enlarges its
Eagle Ford footprint. This $2.3 billion (gross) "Comanche"
acquisition is contiguous to Sanchez's successfully developed
Catarina acreage, the source of most of the company's production
prior thereto.

Sanchez's cost structure is much improved and the company will
focus drilling primarily on its highest return acreage in Catarina
and Comanche, which will account for approximately 90% of its
production volume. As a function of the Comanche acquisition, a
large increase in production began in 2017's second quarter,
growing to 81,977 barrels of oil equivalent (Boe) per day in 2017's
fourth quarter, of which 68% was liquids. While the 64% fourth
quarter production increase over year-ago levels is substantial, a
large portion of the cash flow generated by the acquired production
is "ring-fenced" from Sanchez until the debt and preferred equity
obligations within a new unrestricted subsidiary (UnSub)
established to facilitate the acquisition are retired. Credit
accretion to the existing Sanchez lenders attributable the
acquisition is therefore effectively limited. Moody's considers
this structural separation into the assignment of Sanchez's ratings
given that it has no recourse to Sanchez's assets outside of the
unrestricted subsidiary, nor does Sanchez debt have recourse to the
assets of UnSub.

Moody's considers Sanchez's liquidity to be adequate as evidenced
by its SGL-3 liquidity rating. Liquidity is a function of Sanchez's
$174 million cash balance as of September 30, and the proceeds of
its proposed $400 million first lien notes, which has been sized to
meet the funding needs of further developing the acquired Comanche
acreage over the next several years. Sanchez's $350 million secured
borrowing base revolving credit facility, under which $95 million
is outstanding, will be terminated upon closing of the notes
offering. The company intends to enter into a new $25 million
secured revolver for letter of credit and working capital needs.
UnSub maintains a $330 million borrowing base revolver. At
September 30, $175.5 million was outstanding under this facility,
whose scheduled maturity is March 1, 2022. Sanchez's next upcoming
debt maturity is its $600 million 7.75% unsecured notes due in June
2021.

The proposed $400 million first lien notes are rated B1,
two-notches above the B3 CFR given the superior position the
secured notes occupy in the capital structure, and reflecting their
priority claim to Sanchez's assets, excluding the assets held by
UnSub. Given the company's structural complexity and Moody's
expectation that the mix of Sanchez's secured and unsecured debt
will evolve over time, Moody's regards the B1 rating assigned to
the first lien notes to be more appropriate than the Ba3 rating
otherwise suggested by Moody's Loss Given Default Methodology.

The rating outlook is stable. Sanchez's ratings could be upgraded
upon a consolidation of Sanchez's UnSub, which would be
deleveraging. Ratings could also be upgraded if consolidated
retained cash flow (RCF) to debt is sustained over 15%. Ratings
could be downgraded should EBITDA to interest coverage drop below
2x or should liquidity materially deteriorate.

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

Sanchez Energy Corporation is an independent oil and gas
exploration and production company with producing operations
focused on the Eagle Ford Shale in South Texas, headquartered in
Houston, Texas.


SANCHEZ ENERGY: S&P Affirms 'B' CCR & Alters Outlook to Stable
--------------------------------------------------------------
S&P Global Ratings affirmed its 'B' long-term corporate credit
rating on Sanchez Energy Corp. and revised the outlook to stable
from positive.

S&P said, "At the same time, we assigned our 'BB-' issue-level
rating (two notches above the corporate credit rating) to Sanchez'
proposed $400 million senior secured notes due 2023. The recovery
rating is '1', indicating our expectation of very high (90% to
100%; rounded estimate: 95%) recovery in the event of a payment
default.

"We also affirmed the 'B-' issue-level rating on the company's
senior unsecured debt. The recovery rating on the unsecured debt is
'5', indicating our expectation of modest (10%-30%; rounded
estimate: 25%) recovery in the event of a payment default.

"The outlook revision reflects our revised, lower, production
assumptions of 90,000 barrels of oil equivalent per day (boe/d) for
2018 and 96,000 boe/d next year, and the company's capital
structure pro forma for the proposed notes issuance. As a result,
we no longer expect the company's credit measures to improve in
2018. We now estimate funds from operations to debt will be in the
12% to 15% range and debt to EBITDA in the 5x area in 2018 and
2019.   

"The stable outlook reflects our view that Sanchez will continue to
grow its reserves and production while maintaining FFO/debt of
about 12% and debt/EBITDA at about 5x on average over the next two
years.

"We could lower the rating if we expected FFO/debt to fall below
12% or debt/EBITDA to be well in excess of 5x with no near-term
remedy, or if liquidity deteriorated. This would most likely occur
if the company did not meet our oil production growth expectations,
capital spending exceeded cash flows by significantly more than
currently contemplated, or if commodity prices were to
significantly weaken.

"An upgrade would be possible if we expected FFO/debt to approach
20% and or debt/EBITDA to get closer to 4x, and remain at these
levels on a sustainable basis. This would most likely occur if the
company exceeded its production guidance or if commodity prices
strengthened meaningfully."  


SCANA CORP: Moody's Lowers Senior Unsecured Debt Rating to Ba1
--------------------------------------------------------------
Moody's Investors Service downgraded the ratings of South Carolina
Electric & Gas Company (SCE&G, senior unsecured to Baa3 from Baa2),
and its parent company SCANA Corporation (SCANA, senior unsecured
to Ba1 from Baa3) and continued the review for downgrade that began
on November 1, 2017. The review was originally initiated as a
result of escalating political and regulatory contentiousness
following the organization's decision to cease construction of the
V.C. Summer new nuclear units 2 and 3. Moody's also placed the
long-term ratings of SCANA's local gas distribution utility
subsidiary, Public Service Company of North Carolina (PSNC, A3
senior unsecured) under review for downgrade.

RATINGS RATIONALE

The rating action follows the South Carolina House of
Representatives overwhelming passage of H 4375, a bill that, if
enacted, would temporarily repeal the rates SCE&G is collecting
under the Base Load Review Act (BLRA) for its abandoned nuclear
investment. As proposed in the legislation, "experimental" rates
would be in place until the Public Service Commission of South
Carolina (SCPSC) makes a determination in SCE&G's ongoing rate
proceeding, which is likely to be concluded in the third quarter of
this year. The proposed immediate reduction in revenue would have a
materially negative impact on SCE&G and SCANA's cash flow credit
metrics.

"The downgrade of SCE&G and SCANA is driven by a political and
regulatory environment that has become exceedingly contentious and
uncertain, and Moody's assumption that SCE&G will ultimately be
required to make considerable rate concessions to move forward",
said Laura Schumacher, Senior Credit Officer. "Although Moody's
recognize H 4375 has not yet been signed into law, the bill has the
full support of the governor, and at least some members of the
Senate, which was contemplating similar legislation" added
Schumacher. The BLRA that this legislation targets has been a key
factor supporting SCE&G and SCANA's credit quality as it
constructed the Summer nuclear units and any weakening of its
provisions will have a detrimental effect on the organization's
risk profile and on its ability to recover Summer costs.

Moody's also believe the politically charged environment will weigh
heavily on the SCPSC as it looks to implement rates that are fair
and reasonable, perhaps leading to rates that are authorized at
unusually low levels or include provisions that significantly delay
recovery. Events over the past few months have led us to conclude
the regulatory environment for SCE&G has deteriorated markedly and
is now considerably below average.

The rating action also considers the negative legislative reaction
to recent credit neutral proposals by SCANA, and by SCANA and
Dominion Energy, Inc. (Dominion, Baa2 negative) in conjunction with
their proposed merger, that would better balance the cost of
nuclear abandonment between ratepayers, creditors and shareholders.
As such, Moody's believe SCE&G and SCANA will ultimately be
required to absorb a greater portion of these costs, which would
likely materially weaken their financial position. For example,
Moody's expect that the companies' ratios of cash from operations
excluding changes in working capital (CFO pre-WC) to debt could
decline to the low-teens.

The continued review of SCE&G and SCANA will focus on the
companies' uncertain and rapidly evolving political and regulatory
environment as well as the likely impact on their future financial
profiles. To the extent there is evidence of additional financial
stress or adverse political or regulatory developments, ratings
could be affected. For example if the legislature were to move to
replace members of the SCPSC; if SCE&G is ordered to refund amounts
previously collected under the BLRA, particularly without the
benefit of a larger, better capitalized partner; or if rates
established by the SCPSC do not provide an opportunity for SCE&G to
maintain a ratio of CFO pre-WC to debt that is at least in the
low-teens, ratings could be revised downward. Furthermore, if the
company is unable to draw on its credit lines, or issue additional
debt, due to covenant violations or an inability to represent that
it has not experienced a material adverse change, there could also
be downward movement in the ratings.

The review for downgrade at PSNC recognizes its position within the
SCANA family and the absence of strong ring fencing type provisions
that could serve to insulate it from potential financial distress
at the parent. As such, and in light of the wide rating
differential between PSNC and its parent SCANA, a downgrade of
SCE&G and SCANA would likely result in a downgrade of PSNC.

The ratings could be confirmed at their current levels if there is
a substantial decline in the political and regulatory
contentiousness characterizing the Summer cost recovery
discussions, if the cost recovery provisions of the BLRA are upheld
and the Act remains in place, if there is a solution that provides
balance in the recovery of Summer costs among ratepayers, creditors
and shareholders, maintaining SCE&G and SCANA's credit profiles,
and if SCE&G is able to collect rates going forward that will
support stable cash flow metrics, including a ratio of CFO pre-WC
to debt at least in the low-teens range.

Downgrades:

Issuer: SCANA Corporation

-- Issuer Rating, Downgraded to Ba1 from Baa3; Placed Under
    Review for further Downgrade

-- Senior Unsecured Bank Credit Facilities, Downgraded to Ba1
    from Baa3; Placed Under Review for further Downgrade

-- Senior Unsecured Commercial Paper, Downgraded to NP from P-3;
    Placed Under Review for further Downgrade

-- Senior Unsecured Regular Bonds/Debentures, Downgraded to Ba1
    from Baa3; Placed Under Review for further Downgrade

Issuer: South Carolina Electric & Gas Company

-- Commercial Paper, Downgraded to P-3 from P-2; Placed Under
    Review for further Downgrade

-- Issuer Rating, Downgraded to Baa3 from Baa2; Placed Under
    Review for further Downgrade

-- Multiple Seniority Shelf, Downgraded to (P)Baa1 from (P)A3;
    Placed Under Review for further Downgrade

-- Senior Secured First Mortgage Bonds, Downgraded to Baa1 from
    A3; Placed Under Review for further Downgrade

-- Senior Unsecured Bank Credit Facilities, Downgraded to Baa3
    from Baa2; Placed Under Review for further Downgrade

Issuer: South Carolina Fuel Company Inc.

-- Commercial Paper, Downgraded to P-3 from P-2; Placed Under
    Review for further Downgrade

-- Senior Unsecured Bank Credit Facilities, Downgraded to Baa3
    from Baa2; Placed Under Review for further Downgrade

On Review for Downgrade:

Issuer: Public Service Co. of North Carolina, Inc.

-- Senior Unsecured Bank Credit Facilities, Placed on Review for
    Downgrade, currently A3

-- Senior Unsecured Regular Bonds/Debentures, Placed on Review
    for Downgrade, currently A3

Outlook Actions:

Issuer: Public Service Co. of North Carolina, Inc.

-- Outlook, Changed To Rating Under Review From Stable

Affirmations:

Issuer: Public Service Co. of North Carolina, Inc.

-- Senior Unsecured Commercial Paper, Affirmed P-2

SCANA is a holding company for SCE&G, a vertically integrated
electric utility with local gas distribution operations regulated
by the SCPSC; Public Service Company of North Carolina, a local gas
distribution company regulated by the North Carolina Utilities
Commission; and SCANA Energy Marketing, Inc. (SEMI, not rated), a
non-regulated gas marketing business in Georgia.

The new V.C. Summer Units 2 and 3 are two Westinghouse AP1000
nuclear units (approximately 1,100 MWs each) that had been under
construction at SCE&G's existing VC Summer plant site. SCE&G owns
55% of the new units, with the remaining 45% owned by the South
Carolina Public Service Authority (Santee Cooper, A1 negative).

The principal methodology used in these ratings was Regulated
Electric and Gas Utilities published in June 2017.


SCHANTZ MFG: Court Terminates Access to Cash Collateral
-------------------------------------------------------
Judge Laura K. Grandy of the U.S. Bankruptcy Court for the Southern
District of Illinois has entered an order providing that Schantz
Manufacturing, Inc.'s authority to use cash collateral is
terminated.  However, the valid, binding, enforceable, and duly
perfected replacement security interests granted to First
Mid-Illinois Bank and Trust in the Court's Orders dated Oct. 31,
2017 and Dec. 13, 2017, will remain in full force and effect.
Neither Debtor nor any subsequently appointed trustee will have
priority over Bank's security interest(s) and/or lien(s), nor the
Debtor or and subsequently appointed Trustee  be allowed any
recovery from any collateral securing the claims of Bank for any
claim Debtor or the trustee may have under Sec. 506(c).

                      About Schantz Mfg. and
                         Schantz Holdings

Schantz Mfg -- http://www.schantzmfg.com/-- is a privately held
company in Highland, Illinois that is engaged in the manufacturing
of customized trailers.  Schantz designs its trailers in a computer
3-D environment.  Some of the ergonomic features of the trailers
include retractable wheels, high capacity air conditioning and
roof-mounted ice makers. Schantz was founded by Socrates Schantz 60
years ago.

Schantz Mfg., Inc., and its parent, Schantz Holdings, Inc., filed
Chapter 11 petitions (Bankr. S.D. Ill. Case Nos. 17-31471 and
17-31472) on Sept. 27, 2017.  

In the petitions signed by Mike Schantz, president, Schantz Mfg.
estimated less than $50,000 in assets and $1 million to $10 million
in debt, while Schantz Holdings estimated less than $1 million in
assets and $1 million to $10 million in debt.

The cases are assigned to Judge Laura K. Grandy.

Spencer P. Desai, Esq., at Carmody MacDonald P.C., is serving as
counsel to the Debtors.


SENTRIX PHARMACY: Intends to File Chapter 11 Plan by April 16
-------------------------------------------------------------
Sentrix Pharmacy and Discount, LLC, requests the U.S. Bankruptcy
Court for the Southern District of Florida to extend the exclusive
period during which only the Debtor may file a Plan for 60 days,
through and including April 16, 2018 and the period for acceptance
of the Debtor's plan, through and including June 15, 2018.

Pursuant to the Order granting the Debtor's First Exclusivity
Motion, the 120-day period during which only the Debtor may file a
Plan is due to expire on February 14, 2018 and the 180-day period
for acceptance of the Debtor's plan will expire on April 16, 2018.

An Agreed Order Granting Agreement on Motion to Continue
Evidentiary Hearing on Motion to Waive Appoint of Ombudsman,
Motions for Relief from Stay, Motion To Dismiss, Hearing on the
Motion to Strike Expert Witness and Request for Status Conference
was entered by the Court on January 29, 2018 and a Preliminary
Hearing and Status Conference is set for March 14, 2018.

The Parties in relation to these Motions have reached a settlement
in principle and are in the process of drafting a Settlement
Agreement. Accordingly, the Debtor believes that it will be in a
better position to propose a Plan within the next 60 days.

                About Sentrix Pharmacy and Discount

Sentrix Pharmacy and Discount, LLC, filed a Chapter 11 bankruptcy
petition (Bankr. S.D. Fla. Case No. 17-19073) on July 19, 2017.  In
the petition signed by Spencer Maklin, its vice president, the
Debtor estimated $1 million to $10 million in assets and
liabilities.  The Hon. Raymond B. Ray presides over the case.
Rappaport Osborne & Rappaport, PLLC, is the Debtor's bankruptcy
counsel.  Delle Fave Tarrasco & Co, CPA, LLP, is the Debtor's
accountant; and Jason S. Mazer and Ver Ploeg & Lumpkin, P.A. is the
insurance counsel.


SIX A CORPORATION: Seeks March 5 Exclusive Plan Filing Extension
----------------------------------------------------------------
Six A Corporation, d/b/a Wildlife Museum and Gift Shop, asks the
U.S. Bankruptcy Court for the District of South Dakota to extend
the exclusivity period in which to file a plan and disclosure
statement to the date of March 5, 2018 and with an extension until
July 2, 2018 to gain acceptance of the filed plan.

Recently, the president of Six A Corporation fell and suffered a
fracture in his back. As a result of this injury the president was
bedridden for a significant amount of time and required strong
medications. During this time he was unable to assist in the
organization and structuring of the plan.

                    About Six A Corporation

Headquartered in Wall, South Dakota, Six A Corporation filed for
Chapter 11 bankruptcy protection (Bankr. D.S.D. Case No. 17-50186)
on Aug. 7, 2017, estimating its assets at between $500,001 and $1
million and its liabilities at between $100,001 and $500,000.
Stanton A. Anker, Esq., at Anker Law Group, P.C., serves as the
Debtor's bankruptcy counsel.  SDRosebud LLC, d/b/a Barb's
Bookkeeping and Tax Services, is the Debtor's bookkeeperr.


SPINLABEL TECHNOLOGIES: Seeks April 6 Plan Exclusivity Extension
----------------------------------------------------------------
SpinLabel Technologies, Inc., asks the U.S. Bankruptcy Court for
the Southern District of Florida for an extension of its exclusive
plan filing period for a period of 60 days to through and including
April 6, 2018, and an extension of the exclusive solicitation
period for a period of 60 days to through and including June 5,
2018, without prejudice to seeking further extensions in the event
circumstances require such relief.

The Debtor further request that the Procedures Order Deadline be
extended to through and including April 6, 2018.

On Jan. 4, 2018, the Court entered an Order extending the Exclusive
Filing Period to Feb. 5, 2018, extended the Exclusive Solicitation
Period to April 6, 2018, and extended the Procedures Order Deadline
to Feb. 5, 2018.

The Debtor seeks an extension of the Procedures Deadline Order,
Exclusive Filing Period and Exclusive Solicitation Period for a
period of 60 days in order to obtain exit financing, and to
finalize its disclosure statement and plan of reorganization.

The Debtor claims that its management has devoted significant time
to complying with the requirements of operating as a
debtor-in-possession during a Chapter 11 case, pursuing various
business opportunities, obtaining debtor-in-possession financing,
and obtaining entry of the DIP Order. The Debtor has been able to
secure debtor-in-possession financing in the total amount of
$250,000, and the Court entered the DIP Order on January 11, 2018.

After the entry of the DIP Order, the Debtor has been seeking exit
financing, and preparing its disclosure statement and plan of
reorganization. However, as of February 2, 2018, the Debtor has not
obtained the exit financing it seeks to emerge bankruptcy and
operate post-confirmation.

As a result, the Debtor requires additional time to obtain such
exit financing, and prepare and finalize its plan and disclosure
statement.

                   About SpinLabel Technologies

SpinLabel Technologies, Inc. -- http://www.spinlabels.com/-- is a
Florida-based company dedicated to building and licensing its
unique labeling technology that builds brand value by engaging
current and prospective customers in the shopping corridor and at
home.

SpinLabel's proprietary, patented label Technology enables a
spinning label (an outer Label over an inner label) to almost
double the valuable messaging space on a container.  SpinLabel is
aligned with top label manufacturers globally to facilitate easy
integration into most types of existing consumer product
packaging.

Based in Miami, Florida, SpinLabel -- which does business as
Spinformation, Inc., as Accudial Pharmaceutical, Inc., and as
Accudial, Inc. -- filed a Chapter 11 petition (Bankr. S.D. Fla.
Case No. 17-20123) on Aug. 9, 2017.  In the petition signed by Alan
Shugarman, its director, the Debtor estimated $1 million to $10
million in both assets and liabilities.  Bradley S. Shraiberg,
Esq., at Shraiberg Landaue & Page PA, serves as the Debtors'
bankruptcy counsel.


STONE CONNECTION: Seeks Interim Access to Cash Collateral
---------------------------------------------------------
Stone Connection, Inc., seeks interim authorization from the U.S.
Bankruptcy Court for the Northern District of Georgia to use cash
collateral in accordance with the Budget pending a final hearing.

The Debtor proposes to use cash collateral for general and
administrative expenses as set forth in the Budget. The expenses
incurred by Debtor and for which cash collateral will be used will
all be incurred in the normal and ordinary course of Debtors'
businesses.

The Debtor entered into a Loan and Security Agreement with VFP
Intermediate Holdings, LLC, which later on transferred its interest
under the Original Loan to ACM VFP Legacy Assets, LLC. The Debtor
and ACM VFP Legacy entered into a First Amendment to the Loan and
Security Agreement, which provided for asset based lending pursuant
to a Revolver Note in the maximum amount of $2,500,000 and a Term
Note in the principal amount of $500,000, all of which remain
secured by the Collateral.

Subsequently, on January 4, 2018, the Debtor and ACM VFP Legacy
entered into a Second Amendment to the Loan and Security Agreement,
which combined the remaining balance owed under the Revolver Note
and Term Note into a $450,000 Term Note, payable monthly with a
Maturity Date of January 1, 2019.

As such, the Debtor recognizes that ACM VFP Legacy is entitled to
adequate protection of its secured interest in the collateral and
the cash collateral.

The Debtor agrees, subject to approval of the Court, to grant the
ACM VFP Legacy nunc pro tunc as of the commencement of the Chapter
11 case, a lien on and in all of Debtor's (property subject to
prior perfected security interest and the Debtor's vehicles) to the
same extent and priority and of the same kind and nature as existed
as of the Petition Date. Additionally, Debtor proposes to pay ACM
VFP Legacy monthly interest payments in the amount of $5,756
(includes 3% default rate).

A full-text copy of the Debtor's Emergency Motion is available at:

            http://bankrupt.com/misc/ganb18-51440-4.pdf

                     About Stone Connection

Founded in 1999, Stone Connection, Inc. --
https://www.stoneconnectionatlanta.com/ -- is a direct importer of
marble and granite for homeowners and contractors in the Atlanta
metro area, including the communities of Roswell, Alpharetta, Sandy
Springs, and more. Its 30,000 sq/ft warehouse and showroom in
Norcross, Georgia have more than 300 individual types and colors of
granite.
                      
Stone Connection filed a Chapter 11 petition (Bankr. N.D. Ga. Case
No. 18-51440) on Jan. 30, 2018.  In the petition signed by CEO
Eugene Steyn, the Debtor  estimated assets and liabilities at $1
million to $10 million.  The case is assigned to Judge Barbara
Ellis-Monro.  The Debtor is represented by Frank G. Nason, IV, Esq.
at Lamberth, Cifelli, Ellis & Nason, P.A.


SUNCOAST INTERNAL: Taps Appelt & Associates as Accountant
---------------------------------------------------------
Suncoast Internal Medicine Consultants, PA, seeks approval from the
U.S. Bankruptcy Court for the Middle District of Florida to hire
Appelt & Associates, CPAS, PA, as its accountant.

The firm will assist with the Debtor's monthly reporting
requirements; prepare its tax returns; and provide other accounting
services related to its Chapter 11 case.

The firm did not receive a pre-bankruptcy retainer, however, the
Debtor has agreed to pay up to $6,000 per month in February and
March 2018 for its post-petition services.

James Appelt, a certified public accountant, disclosed in a court
filing that he and other members of his firm do not have any
connection with the Debtor's creditors, which would represent an
interest adverse to its estate.

Appelt & Associates can be reached through:

     James Appelt
     Appelt & Associates, CPAS, PA
     1811 N. Belcher Road, Suite I-2
     Clearwater, FL, 33765
     Phone: (727) 799-5444
     Email: info@anacpa.com

           About Suncoast Internal Medicine Consultants

Based in Largo, Florida, Suncoast Internal Medicine Consultants, PA
-- http://suncoastinternalmedicine.com/-- provides medical care to
Pinellas County and the Greater Tampa Bay area.  Its staff is
composed of board-certified physicians focusing in the specialties
of internal medicine, gastroenterology, and rheumatology.  Suncoast
was founded in 1965 by Dr. George Kotsch.

Suncoast Internal Medicine Consultants sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No.
18-00399) on Jan. 19, 2018.  In the petition signed by Robert L.
DiGiovanni, DO, president, the Debtor estimated assets and
liabilities of $1 million to $10 million.  Judge Catherine Peek
McEwen presides over the case.  Johnson, Pope, Bokor, Ruppel &
Burns LLP is the Debtor's bankruptcy counsel.


SUNSHINE SEATTLE: Second Interim Cash Collateral Order Entered
--------------------------------------------------------------
Judge Timothy W. Dore of the U.S. Bankruptcy Court for the Western
District of Washington authorized Sunshine Seattle Enterprises,
LLC, to use the cash collateral in which Henry Ku may have an
interest in accordance with and subject to the conditions set forth
in the Second Interim Order and the Budget through the conclusion
of the final hearing on the cash collateral motion.

A final hearing on the Debtor's cash collateral motion will
commence on March 2, 2018, at 9:30 a.m.

The Second Interim Order requires the Debtor to provide adequate
protection as follows:

      (a) Upon request of Henry Ku, the Debtor will immediately
provide proof of all hazard insurance for all property, and will
maintain adequate insurance on all property at all times.

      (b) The Debtor will maintain its property in good condition
and repair.

      (c) During the relevant time period, the Debtor will ensure
that no expenditure exceeds the amount set forth on the Budget by
more than 10% for any line-item, and that overall expenditures not
exceed 5% of the authorized budget. The approved February 2018
Budget provides total expenses of approximately $48,958.

      (d) Henry Ku will have a lien, in the same amount, priority,
and extent as his prepetition liens, on the Debtor's postpetition
inventory, chattel paper, accounts, equipment and general
intangibles; whether any of the foregoing is owned now or acquired
later; all accessions, additions, replacements, and substitutions
relating to any of the foregoing; all records of any kind relating
to any of the foregoing; all proceeds relating to any of the
foregoing. Such lien is subordinated to the compensation and
expense reimbursement allowed to any trustee hereafter appointed in
the case.

A full-text copy of the Second Interim Order is available at:

           http://bankrupt.com/misc/wawb17-14983-56.pdf

                About Sunshine Seattle Enterprises

Sunshine Seattle is based in Seattle, Wash.  An involuntary Chapter
11 petition (Bankr. W.D. Wash. Case No. 17-14983) was filed against
Sunshine Seattle Enterprises LLC on Nov. 14, 2017, by its creditor
Henry Kuo-Chiang Ku.  

The Hon. Timothy W. Dore presides over the case.

Larry B. Feinstein, Esq., at Vortman & Feinstein, is the
petitioning creditor's bankruptcy counsel.

Jeffrey B. Wells, Esq. and Emily Jarvis, Esq., at Wells and Jarvis,
P.S., serve as the Debtor's bankruptcy counsel.


TEAM HEALTH: Acquisition of EMC Credit Positive, Moody's Says
-------------------------------------------------------------
Moody's commented that Team Health Holdings, Inc.'s acquisition of
Emergency Medicine Consultants, Ltd. ("EMC") is credit positive
because it will expand its presence within an attractive market and
reduce financial leverage. Further, the manner by which Team Health
will fund this transaction will preserve liquidity. There is no
change to Team Health's B3 Corporate Family Rating, B3-PD
Probability of Default Rating, B2 senior secured ratings, or its
Caa2 unsecured rating. There is also no change to the negative
outlook.


TEAM HEALTH: Fitch Cuts Issuer Credit Rating to B-, Outlook Stable
------------------------------------------------------------------
Fitch Ratings has downgraded the ratings of Team Health Holdings,
Inc., including the company's Issuer Default Rating (IDR), to 'B-'
from 'B'.  The ratings apply to $3.6 billion of debt at Sept. 30,
2017. The Rating Outlook is Stable.

KEY RATING DRIVERS

Persistent High Debt Leverage post-LBO: The downgrade is based on
Fitch's expectation that Team Health's high leverage, driven by a
leveraged buyout of the business in early 2017 and a historically
acquisitive posture, will persist for the foreseeable future. Gross
debt/EBITDA is currently about 8.0x. Fitch projects that leverage
will decline modestly in 2018, to about 7.8x at year-end, primarily
as a result of EBITDA growth. This deleveraging trajectory is
slower than Fitch anticipated at the time of the LBO, primarily
because of a soft volume environment weighing on margins in the
legacy Team Health business, and persistent operational issues
hampering the integration of IPC Healthcare (IPC).

Most FCF to M&A: Cash generation is expected to be decent for the
'B-' rating category, with FFO fixed charge coverage sustained
above 1.5x through the forecast period and a FCF margin of around
2%. However, the level of FCF will not be substantial enough to
drive deleveraging through debt pay down in excess of required
amortization on the term loans. Instead, Fitch expects most FCF to
be directed towards M&A, which has been a consistent driver of
top-line growth for the company in a weak organic growth
environment.

Leading Position in Growing Market: Team Health is one of only a
handful of national providers of outsourced healthcare staffing,
providing scale and scope for contracting with consolidating acute
care hospital systems and commercial health insurers. Leading scale
affords good growth opportunities, both organic and inorganic in
nature. Nearly all of Team Health's revenues are sourced from
contracted physician and other healthcare services. Concentration
is heaviest in emergency department (ED) staffing services and ED
volumes were soft across the physician staffing industry in 2017.
Given the challenges inherent in rapidly adjusting staffing levels,
this weighed on Team Health's margins and cash generation in 2017.

Continued Challenges in IPC Segment: Team Health more than doubled
leverage in late 2015 to fund the acquisition of IPC, a national
provider of outsourced acute care hospitalist and post-acute care
providers. The $1.6 billion deal was pricy by most measures, and
difficulties in physician retention have been a headwind to
contract retention and organic growth. Longer-term, the IPC
combination has strategic merit because it lessens concentration in
areas that are facing secular patient volume headwindssuch as the
ED. However, issues with hospitalist retention and declining
revenue have been a persistent issue since the acquisition. The
company is currently working on various solutions to address the
retention issue, but this has yet to manifest in improved organic
growth in the segment.

Ample Liquidity, Solid FCF: Low working capital and capital
spending requirements and the expectation of no dividend payments
in the near term support relatively strong FCF for the 'B-' rating
category and relative to the peer group. FCF was pressured in 2017
by higher interest costs post-LBO as well as one-time items related
to LBO transaction costs and litigation settlement payments, which
are not expected to re-occur.

DERIVATION SUMMARY

Team Health's 'B-' rating reflects the company's generally
favorable operating profile compared to major peers, offset by a
weaker a financial profile and recent issues integrating an
acquisition, with relatively high financial leverage primarily as a
result of funding a 2017 LBO. Characteristics of a favorable
operating profile include Team Health's industry leading size and
scale, highlighted by the company's depth in the major healthcare
service lines in which physician staffing companies have a dominant
presence, including anesthesiology and emergency department (ED)
staffing. The company's closet peer, Envision Healthcare Corp's
EmCare segment, has similar scale as Team Health, but has lower
leverage and better financial flexibility.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Fitch Rating Case for the Issuer

-- Organic revenue growth, net of bad debt expense of 3-4% in
    2017 through 2020 reflects an expectation of mid-single digit
    growth in the hospital segment, offset by continued declines
    in the IPC segment.

-- Total revenue growth of about 5-6% annually reflects ongoing
    tuck-in acquisitions through the projection period; revenue
    growth of 11% in 2018 reflects the effects of the acquisition
    of Emergency Medicine Consultants.

-- EBITDA margin increases slightly to 9.5% in 2019 due to
    assumption of some recovery in organic volume growth in the
    hospital segment partly offset by continued IPC weakness and
    lower margin acquisitions.

-- FCF (cash from operations less maintenance capex) of approx. -
    $66 million in 2017 due to acquisition-related costs and one-
    time settlement payment, increasing to slightly more than $100

    million in 2018.

-- Capital intensity of less 1%, and working capital in-line with

    historical levels.

These assumptions result in gross debt/EBITDA declining below 8.0x
in 2018 and below 7.0x at year-end 2019. FFO fixed charge coverage
remains above 1.5x.

KEY RECOVERY RATING ASSUMPTIONS

The 'B+/RR2' rating for Team Health's secured debt reflects Fitch's
expectations for 72% recovery under a hypothetical bankruptcy
scenario. The 'CCC/RR6' rating on Team Health's senior unsecured
notes reflects Fitch's expectations of 6% recovery for these
lenders in bankruptcy. The recovery analysis assumes that Team
Health would be considered a going-concern in bankruptcy and that
the company would be reorganized rather than liquidated.

Fitch estimates an enterprise value (EV) on a going concern basis
of $2.5 billion for Team Health, after a standard deduction of 10%
for administrative claims. Fitch assumes that Team Health would
fully draw the $400 million available balance on the bank credit
facility revolver in a bankruptcy scenario and incremental debt to
fund acquisitions.

Fitch assumes that the most likely scenario leading to bankruptcy
for Team Health would be some operational or regulatory headwind or
industry development that led to large-scale contract losses. The
EV assumption is based on post-reorganization EBITDA of $314
million and an 8.5x multiple. The 8.5x multiple employed for Team
Health compares to the low double digit multiple that the LBO was
completed at and is consistent with the current trading multiple of
Envision Healthcare Corp., Team Health's closest public peer. While
Fitch assumed that EBITDA would decline considerably in a
bankruptcy scenario, the enterprise value multiple is assumed to
only decline to the extent scale was meaningfully diminished across
all geographies. Scale is important nationally, but it is more
important for outsourced companies on a regional basis.

RATING SENSITIVITIES

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

-- A high degree of certainty that gross debt/EBITDA after
    dividends to associates and minorities will be sustained below

    7.0x coupled with FFO fixed charge coverage of at least 2x.

-- Profit margin stabilization evidencing that the company has
    successfully addressed IPC's physician attrition issues.

-- Generation of consistently positive FCF, with FCF margin of at

    least 1%-2%

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

-- An expectation that gross debt/EBITDA after dividends to
    associates and minorities will be durably above 8.0x coupled
    with FFO fixed charge coverage below 1.5x.

-- A FCF deficit that requires incremental debt funding.

-- Continued issues with integration of IPC or an acceleration of

    weak organic operating trends in the hospital segment
    resulting in continued deterioration in margins.

LIQUIDITY

Adequate Source of Liquidity: Sources of liquidity, including cash
on hand of $59 million as of Sept. 30, 2017 and a $400 million cash
flow revolver, provide adequate internal liquidity for day-to-day
operational needs. All cash is considered readily available by
Fitch.

Positive FCF in 2018: LTM FCF at Sept. 30, 2017 was negative $31
million largely due to transaction and financing costs associated
with the Blackstone acquisition as well as a $60 million settlement
payment related to legacy IPC litigation from the period before
Team Health acquired the company. Fitch expects FCF to turn
positive in 2018 without the burden of these one-time costs. As a
service provider that mainly utilizes clients' buildings and
equipment, Team Health does not require large capital expenditures.
Capex tends to be less than 1% of revenue, and Fitch does not
expect this dynamic to change in the near term.

Implications of Tax Reform: To the extent that Team Health
generates positive pre-tax income, the reduction in the corporate
tax rate to 21% should benefit cash generation since the company's
operations are located entirely within the U.S. Based on Fitch's
forecast, Team Health's interest expense equals about 30% of EBITDA
in 2018, but does tick up in the outer years because Fitch assumes
higher cost on the floating rate term loans. However, Fitch doesn't
expect the limitation of interest deductibility to have a major
impact on cash generation.

Manageable Debt Maturities: No material debt is due until the term
loan maturity in 2024. Term loan amortization is modest at only 1%
or about $28 million per year. The term loan is also expected to be
subject to a cash flow sweep provision, but the proposed definition
of excess FCF allows for deductions for capital expenditures,
permitted investments and acquisitions, so Fitch doesn't expect the
provision to drive deleveraging.

FULL LIST OF RATING ACTIONS

Fitch has downgraded the following ratings:

Team Health Holdings, Inc.

-- IDR to 'B- ' from 'B'; Outlook revised to Stable from
    Positive;

-- Senior secured bank credit facility to 'B+'/'RR2' from
    'BB'/'RR1';

-- Senior unsecured notes to 'CCC'/'RR6' from 'CCC+'/'RR6'.


TRICO GROUP: S&P Affirms 'B' Rating on $425MM 1st Lien Loan
-----------------------------------------------------------
S&P Global Ratings revised its recovery rating on Ohio-based Trico
Group LLC's $425 million first-lien term loan to '3' from '4'. The
'3' recovery rating indicates S&P's expectation for meaningful
recovery (50%-70%; rounded estimate: 65%) for debtholders in the
event of a default. S&P's 'B' issue-level rating on the term loan
remains unchanged.

S&P revised its recovery rating on the term loan because the final
terms of the credit agreement included a faster rate of
amortization, which increased its recovery estimate.

Trico competes in the intensely competitive auto aftermarket
industry. The ratings on the company reflect S&P's aggressive
assessment of its financial risk profile and its weak assessment of
its business risk profile.

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

S&P's simulated default scenario anticipates a default in 2021 due
to reduced demand for Trico's products caused by renewed economic
weakness in the U.S. or the loss of a major customer.

This scenario also envisions that the company's business continues
to lose market share as commodity prices escalate.

S&P expects that these conditions will reduce the company's
volumes, revenue, gross margins, and net income, causing its
liquidity to decline.

Simulated default assumptions

-- Simulated year of default: 2021
-- EBITDA at emergence: $71 million
-- EBITDA multiple: 5x

Simplified waterfall

-- Net enterprise value (after 5% admin. costs): $339 million
-- Valuation split (obligors/nonobligors): 100%/0%
-- Priority claims: $86 million
-- Value available to asset-based lending (ABL) debt claims: $339
million
    --Recovery expectations: 90%-100% (rounded estimate: 95%)
-- Secured first-lien debt claims: $389 million
-- Value available to first-lien debt: $252 million
    --Recovery expectations: 50%-70% (rounded estimate: 65%)

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

RATINGS LIST

  Trico Group LLC
   Corporate Credit Rating             B/Stable/--

  Ratings Affirmed; Recovery Ratings Revised
                                       To                 From
  Trico Group LLC
    Senior Secured
    $425 mil 1st-ln trm ln due 2025    B                  B
     Recovery Rating                   3(65%)             4(40%)



TVC ALBANY: S&P Cuts 1st Lien Debt Rating to 'B-' Amid Loan Add-on
------------------------------------------------------------------
S&P Global Ratings lowered its issue-level rating on Albany,
N.Y.-based fiber infrastructure provider TVC Albany Inc.'s (d/b/a
FirstLight Fiber) senior secured first-lien debt to 'B-' from 'B'
and revised the recovery rating to '3' from '2' following the
company's proposed $30 million add-on to its $275 million term loan
B due in 2024. The '3' recovery rating indicates S&P's expectation
of meaningful (50%-70%; rounded estimate: 65%) recovery in the
event of a payment default.

S&P expects the company to use the $30 million in proceeds from the
upsized term loan B to fully repay the $23 million balance on its
revolving credit facility, return cash to the balance sheet, and
fund future capital expenditures.

The less favorable recovery and issue-level ratings reflect the
proposed increase in the company's first-lien debt, which reduces
recovery prospects for first-lien lenders. S&P's analysis assumes
an 85% draw on the revolver in a default scenario.

S&P said, "In addition, our 'CCC' issue-level rating and '6'
recovery rating on the company's second-lien term loan debt due
2025 are unchanged. The '6' recovery rating indicates our
expectation of negligible (0%-10%; rounded estimate: 0%) recovery
for second-lien lenders in the event of a payment default.

"At the same time, our 'B-' corporate credit rating and stable
outlook on FirstLight are unaffected. While we believe that the
company will reduce leverage to the low-6x area from synergy
realization and earnings growth over the next 12 months, its
ownership by private equity sponsors and the potential for
debt-financed acquisitions will likely constrain longer-term
leverage improvement such that adjusted debt to EBITDA remains
above 6.5x."

RECOVERY ANALYSIS

Key Analytical Factors

S&P said, "Our simulated default scenario contemplates speculative
capital spending with economic pressure that leads to customer
churn. This would cause the company's cash flow to decline to the
point it is unable to cover its fixed charges (interest expense,
required amortization, and maintenance capex levels), and
eventually lead to a default in 2020.

"We have valued FirstLight on a going-concern basis using a 5.5x
multiple of our projected emergence EBITDA. Generally, we assign a
multiple of 5x-6x for our fiber infrastructure companies. We chose
a 5.5x multiple given the company's ratio of owned to leased fiber
network assets relative to other fiber infrastructure peers."

Simulated Default Assumptions

-- Simulated year of default: 2020
-- EBITDA at emergence: $43 million
-- EBITDA multiple: 5.5x

Simplified Waterfall

-- Net enterprise value (after 5% administrative costs): $225
million
-- Valuation split in % (obligors/nonobligors): 100/0
-- Collateral value available to first-lien secured creditors:
$225 million
-- Secured first-lien debt: $331 million
    --Recovery expectations: 50%-70%; rounded estimate: 65%
-- Collateral value available to second-lien secured creditors: $0
Secured second-lien debt: $105 million
    --Recovery expectations: 0%-10%; rounded estimate: 0%

All debt amounts include six months of prepetition interest.

Ratings List

  TVC Albany, Inc.
   Corporate Credit Rating             B-/Stable/--

                                       To            From

  Issue Level Rating Downgraded/Recovery Rating Revised

  TVC Albany, Inc.
    Senior Secured    
     $25 mil revolver due 2022         B-            B
     Recovery Rating                   3(65%)        2(70%)

     $305 mil term loan B due 2024     B-            B
     Recovery Rating                   3(65%)        2(70%)


VANGUARD HEALTHCARE: May Use Cash to Pay Litigation Counsel
-----------------------------------------------------------
The Hon. Randal S. Mashburn of the U.S. Bankruptcy Court for the
Middle District of Tennessee authorized Vanguard Healthcare LLC,
and its affiliates to use cash collateral to pay the allowed
interim fees and expenses of special litigation counsel of the
Debtors -- Baker Donelson and Burr & Forman -- up to the amounts
reflected in the Debtors' Motion.

The Debtors and Healthcare Financial Solutions, LLC ("HFS") that
the parties have reached an agreement for the use of the cash
collateral in a limited basis.

The remaining allowed interim fees and expenses of estate
professionals listed in the Debtors' Motion may be paid upon the
Effective Date of the Debtors' confirmed Plan and after the
Restructured HFS Loan Documents have been executed and delivered at
closing.

The Cash Collateral Order will not be affected and remains in full
force and effect.

A full-text copy of the Court's Order is available at:

         http://bankrupt.com/misc/tnmb16-03296-2345.pdf

Attorneys for Healthcare Financial Solutions:

         John A. Harris, Esq.
         Robert P. Harris, Esq.
         QUARLES & BRADY LLP
         Renaissance One
         Two North Central Avenue
         Phoenix, Arizona 85004-2391
         Telephone: 602-229-5200
         E-mail: john.harris@quarles.com
                 robert.harris@quarles.com

                 -- and --

         Charles W. Cook, III, Esq.
         ADAMS AND REES LLP
         424 Church Street, Suite 2700
         Nashville, Tennessee 37219
         Telephone: 615-259-1450
         E-mail: charles.cook@arlaw.com

                  About Vanguard Healthcare

Vanguard Healthcare, LLC, is a long-term care provider
headquartered in Brentwood, Tennessee, providing rehabilitation and
skilled nursing services at 14 facilities in four states (Florida,
Mississippi, Tennessee and West Virginia).

Vanguard Healthcare and 17 of its subsidiaries each filed a Chapter
11 bankruptcy petition (Bankr. M.D. Tenn. Lead Case No. 16-03296)
on May 6, 2016.  In the petition signed by CEO William D. Orand,
Vanguard estimated assets in the range of $100 million to $500
million and liabilities of up to $100 million.  

The cases are assigned to Judge Randal S. Mashburn.

The Debtors hired Bradley Arant Boult Cummings LLP as bankruptcy
counsel; BMC Group as noticing agent; and Stewart & Barnett, Ltd.,
and Maggart & Associates, P.C., as accountants.

The U.S. Trustee appointed Laura E. Brown as patient care ombudsman
for Vanguard Healthcare.

The Office of the U.S. Trustee appointed an official committee of
unsecured creditors.  Bass, Berry & Sims PLC serves as bankruptcy
counsel to the committee.  CohnReznick LLP is the committee's
financial advisor.


VIRTUS INVESTMENT: S&P Lowers ICR to 'BB', Outlook Stable
---------------------------------------------------------
S&P Global Ratings said that it lowered its issuer credit rating on
Virtus Investment Partners Inc. to 'BB' from 'BB+'. The outlook is
stable. At the same time, S&P also lowered the rating on the
first-lien term loan to 'BB' from 'BB+'. The recovery on the term
loan is '3', reflecting S&P expectation for meaningful recovery
(50%) in the event of a default.

The downgrade reflects S&P's expectation for Virtus' credit metrics
to weaken following its proposed debt offering and acquisition of a
70% stake in Sustainable Growth Advisors (SGA). Specifically, we
expect Virtus' leverage to increase to around 2x in 2018, from
approximately 1.4x (counting 100% of the firm's mandatory
convertible preferreds as equity and encompassing a full-year of
Ridgeworth) as of Dec. 31, 2017.  

The acquisition is being funded with proceeds from a $105 million
add-on to the firm's existing term loan and cash on hand. There is
no performance-based consideration, although Virtus has the
obligation to buy an additional 30% of SGA at various points in the
future. The price of this 30% will be based on established EBITDA
multiples and can be settled in cash or stock. Once purchased,
Virtus intends to recycle this equity to future generations of
talent at SGA such that up to 25% of SGA's equity will be held by
employees. S&P adds these put obligations to debt in its leverage
calculation because it sees them as a debt-like obligation.

SGA, like many of Virtus' other affiliates, is a small and
concentrated asset manager. The company has limited product and
asset class diversification, relies on a relatively small amount of
key employees, and likely has less developed distribution
capabilities versus most larger, more well established managers S&P
rates. The company has experienced material growth over the past
several years, going from $6 billion in assets under management
(AUM) to $12 billion at year-end 2017. Although a significant
amount of this growth came as a result of market appreciation, the
firm has had $2.8 billion in net inflows since the beginning of
2015, coming mostly from the company's global growth equity
products, which now make up 39% of total AUM.  

SGA has a relatively short track record in strategies outside of
its large cap growth strategy. Additionally, investment performance
has been mixed with its large cap growth strategy either
underperforming or performing about in line with the Russell 1000
Growth Index over several different periods (as of Sept. 30, 2017).
The company's global growth strategy, which was started in 2011,
has underperformed on a one-year basis (versus the MSCI ACWI and
MSCI ACWI Growth Index), outperformed on a three-year basis, and
been about in line to both indices on a five-year basis.

SGA will be Virtus' ninth affiliate (Virtus also employs several
subadvisers), incrementally improving the firm's exposure to
different strategies and managers. However, Virtus will now have
slightly more of an equity-tilted portfolio (56% of AUM proforma
for the transaction), which could create more volatility in the
company's earnings over time. In S&P's opinion, a moderate drawdown
in equity markets could lead Virtus to break clearly above 2x
leverage.

The SGA acquisition follows Virtus' purchase of RidgeWorth in 2017.
S&P said, "We typically view managers who operate an affiliate
model (rated peers such as Victory Capital and Affiliated Managers
Group also do this) as being more acquisitive than peers that
operate a more integrated model. Given Virtus' near-term track
record, we believe it is likely that the company will continue to
acquire additional entities, which may be debt financed. The
company has cited that it targets a net leverage ratio of less than
2x. However, we do not believe this is a maximum tolerance, and
thus we believe that we could observe spikes modestly (but likely
not materially) above this level due to acquisition activity."

Virtus had slight long-term net outflows in 2017 following multiple
years of elevated net outflows. While investment performance
remains relatively good, with 79% of AUM in the top half of its
peer group on a five-year basis (although less is in the top half
on a one- and three-year basis) and 81% of AUM with a 4 or 5 star
Morningstar rating, S&P believes it will remain somewhat
challenging for the firm to generate more than modest organic
growth.

The firm's liquidity remains solid, in S&P's view, supporting the
rating. Underpinning this strength is the firm's good cash flow
generation, moderate amount of cash on hand, and a $100 million
undrawn senior secured revolver. The company has no near-term
maturities and minimal cash needs consisting mostly of its
committed dividend, dividends on the mandatory convertible
preferred, capital expenditures, and working capital. The company
must also invest alongside any collateralized loan obligations its
affiliates issue to comply with risk retention requirements. As of
Dec. 31, 2017, Virtus had $118 million in seed capital investments,
which S&P does not view as a primarily liquidity resource, although
it could be used if needed.

S&P said, "The stable outlook reflects our expectation for EBITDA
to increase significantly into 2018 as the company experiences the
benefit of a full-year of RidgeWorth's performance, closes on its
acquisition of SGA (expected in mid-2018), incurs less transaction
and integration fees, and shows modest growth due to market
appreciation. It also reflects our expectation that the company
will maintain leverage close to 2x in 2018, although we believe the
company's ongoing leverage tolerance may be somewhat higher due to
its acquisitive strategy.

"We could lower the ratings if Virtus increases leverage to over 3x
on a sustained basis or if we observe material business
deterioration (investment performance or flows) such that we
believe Virtus' competitive position has substantially worsened.

"We could raise the ratings if Virtus reduces leverage to
comfortably below 2x and the company adopts a less acquisitive
strategy or a more stringent financial policy. An upgrade would
also be contingent upon the company demonstrating at least stable
flows and good investment performance."


WALTER INVESTMENT: Preparing Draft 2018 Business Plan
-----------------------------------------------------
Walter Investment Management Corp., disclosed in a Form 8-K
regulatory filing with the Securities and Exchange Commission that
it is in the process of preparing its 2018 annual business plan.

Walter said the draft 2018 business plan will not be completed
prior to the effective date of its prepackaged Chapter 11 plan, and
has not been reviewed or approved by either the Company's current
Board of Directors or the persons who will comprise the Board of
Directors on and after the Effective Date.

In the course of preparing the draft 2018 business plan to present
to the New Board for approval after the Effective Date, the Company
has preliminarily reviewed its expected cash position for fiscal
2018 in consultation with its debt restructuring advisors.

Based on that preliminary review, the Company is updating its
projection of the Company's cash on hand at December 31, 2018
("December 2018 Ending Cash"), as compared to the projection of
"Ending Cash" as of December 31, 2018 included in the Disclosure
Statement for the Prepackaged Plan.

The Company currently estimates, based on its preliminary and
continuing review, that December 2018 Ending Cash will be
approximately $210 million, as compared to the projected estimate
of $261 million set forth in the Disclosure Statement. The variance
is the result of a variety of factors, including timing
considerations, matters relating to servicer advances and updated
working capital assumptions.
In addition, the Company is in the process of preparing its 2017
financial statements, which financial statements remain subject to
completion and audit.

Based on preliminary analysis, the Company expects that its
Adjusted EBITDA for the year ended December 31, 2017 will be
moderately lower than its projection of Adjusted EBITDA for the
year included in the Disclosure Statement. The variation is due to
continued expenses and charges in the Company's Servicing and
Reverse segments, principally associated with default servicing
operations, which were partially offset by performance in excess of
expectations in the Company's Originations segment. The Company is
not updating or revising the projection for Adjusted EBITDA for the
year ended December 31, 2018 included in the Disclosure Statement,
which the Company believes continues to be materially consistent
with its current preliminary estimates for the year.

The Company believes that the Prepackaged Plan remains feasible
notwithstanding the variances.

                     About Walter Investment

Based in Fort Washington, Pennsylvania and established in 1958,
Walter Investment Management Corp., formerly known as Walter
Investment Management LLC -- http://www.walterinvestment.com/-- is
a diversified mortgage banking firm focused primarily on servicing
and originating residential loans, including reverse loans.  The
company services a wide array of loans across the credit spectrum
for its own portfolio and for GSEs, government agencies,
third-party securitization trusts and other credit owners.  The
company originates and purchases residential loans that it
predominantly sells to GSEs and government entities.

Walter Investment commenced a prepackaged Chapter 11 case (Bankr.
S.D.N.Y. Lead Case No. 17-13446) with a plan of reorganization
where the Company commits to reduce its outstanding corporate debt
by approximately $806 million through a combination of cancellation
of debt ($531 million) and principal pay-downs ($275 million).

As of Sept. 30, 2017, the Debtor had total assets of $14.97 billion
and total debt of $15.21 billion.

The case is assigned to Hon. James L. Garrity Jr.

Weil, Gotshal & Manges LLP, is the Debtor's counsel, with the
engagement led by Sunny Singh, Esq., Ray C. Schrock, P.C., and
Joseph H. Smolinsky, Esq.  The Debtor's investment banker is
Houlihan Lokey Capital, Inc.  The Debtor's restructuring advisor is
Alvarez & Marsal North America, LLC.  The Debtor's claims and
noticing agent is Prime Clerk LLC.

Counsel to the Ad Hoc Group of Consenting Term Lenders:

     Patrick Nash Jr., P.C.
     Gregory Pesce, Esq.
     KIRKLAND & ELLIS LLP
     300 North LaSalle
     Chicago, IL 60654

Counsel to Credit Suisse AG, as administrative agent under the
Amended and Restated Credit Facility Agreement:

     Brian M. Resnick, Esq.
     Michelle McGreal, Esq.
     DAVIS POLK & WARDWELL LLP
     450 Lexington Ave
     New York, NY 10017

Counsel to the Ad Hoc Group of Consenting Senior Noteholders:

     Gregory A. Bray, Esq.
     Haig M. Maghakian, Esq.
     MILBANK, TWEED, HADLEY & MCCLOY LLP
     2029 Century Park East, 33rd Floor
     Los Angeles, CA 90067

          - and -

     Dennis F. Dunne, Esq.
     MILBANK, TWEED, HADLEY & MCCLOY LLP
     28 Liberty Street
     New York, NY 10005

Counsel to Wilmington Savings Fund Society, FSB, a national banking
association, as successor trustee under the Prepetition Senior
Notes Indenture:

     Seth H. Lieberman, Esq.
     Matthew Silverman, Esq.
     Patrick Sibley, Esq.
     PRYOR CASHMAN
     7 Times Square
     New York, NY 10036

Counsel to Wells Fargo Bank, National Association, as trustee under
the Prepetition Convertible Notes Indenture:

     Curtis L. Tuggle, Esq.
     THOMPSON HINE
     335 Madison Avenue, 12th Floor
     New York, NY 10017

Counsel to Credit Suisse First Boston Mortgage Capital LLC, as
administrative agent under the DIP Warehouse Facilities:

     Gerard S. Catalanello, Esq.
     Karen Gelernt, Esq.
     James J. Vincequerra, Esq.
     ALSTON & BIRD LLP
     90 Park Avenue
     New York, NY 10016

Counsel to certain DIP Lenders:

     Sarah M. Ward, Esq.
     Mark A. McDermott, Esq.
     SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP
     Four Times Square
     New York, NY 10036

Counsel to Fannie Mae:

     Darren L. Patrick, Esq.
     Steve Warren, Esq.
     O'MELVENY & MYERS LLP
     400 South Hope Street, 18th Floor
     Los Angeles, CA 90071

         - and -

     Jennifer Taylor, Esq.
     O'MELVENY & MYERS LLP
     Two Embarcadero Center, 28th Floor
     San Francisco, CA 94111

Counsel to Freddie Mac:

     Paul D. Moak, Esq.
     MCKOOL SMITH
     600 Travis Street, Suite 7000
     Houston, TX 77002

          - and -

     Kyle A. Lonergan, Esq.
     MCKOOL SMITH
     One Bryant Park, 47th Floor
     New York, NY 10036


WALTER INVESTMENT: To Change Name to Ditech Following Ch.11 Exit
----------------------------------------------------------------
Walter Investment Management Corp., disclosed in a Form 8-K
regulatory filing with the Securities and Exchange Commission that
it intends to change its name to Ditech Holding Corporation when
its Chapter 11 bankruptcy-exit plan takes effect.

The United States Bankruptcy Court for the Southern District of New
York entered an order confirming Walter's Prepackaged Chapter 11
Plan of Reorganization on January 18, 2018.

The Company anticipates emerging from the Chapter 11 Case on the
date when all remaining conditions to effectiveness to the
Prepackaged Plan are satisfied.  The Company has said it is
continuing to work towards satisfying the remaining conditions
precedent to the Prepackaged Plan and expects to emerge from
bankruptcy in the near term.

On January 24, 2018, the Company received approval to list on the
New York Stock Exchange 4,252,500 shares of new common stock, par
value $0.01 per share, issuable upon the Effective Date and
27,685,000 shares of New Common Stock reserved for issuance under
the Company's management incentive plan or for issuance upon
conversion or exercise of its Series A Warrants, Series B Warrants
and Mandatorily Convertible Preferred Stock, upon official notice
of issuance. The New Common Stock is expected to trade under the
symbol DHCP.

On the Effective Date, the Company expects to issue these equity
and equity-linked securities:

     * 4,252,500 shares of New Common Stock;

     * 100,000 shares of Mandatorily Convertible Preferred Stock,
face amount $1,000, convertible into 11,497,500 shares of New
Common Stock;

     * 7,245,000 Series A Warrants, exercisable for 7,245,000
shares of New Common Stock; and

     * 5,748,750 Series B Warrants, exercisable for 5,748,750
shares of New Common Stock

The Company also will have reserved for issuance 3,193,750 shares
of New Common Stock issuable under the Company's management
incentive plan.

                     About Walter Investment

Based in Fort Washington, Pennsylvania and established in 1958,
Walter Investment Management Corp., formerly known as Walter
Investment Management LLC -- http://www.walterinvestment.com/-- is
a diversified mortgage banking firm focused primarily on servicing
and originating residential loans, including reverse loans.  The
company services a wide array of loans across the credit spectrum
for its own portfolio and for GSEs, government agencies,
third-party securitization trusts and other credit owners.  The
company originates and purchases residential loans that it
predominantly sells to GSEs and government entities.

Walter Investment commenced a prepackaged Chapter 11 case (Bankr.
S.D.N.Y. Lead Case No. 17-13446) with a plan of reorganization
where the Company commits to reduce its outstanding corporate debt
by approximately $806 million through a combination of cancellation
of debt ($531 million) and principal pay-downs ($275 million).

As of Sept. 30, 2017, the Debtor had total assets of $14.97 billion
and total debt of $15.21 billion.

The case is assigned to Hon. James L. Garrity Jr.

Weil, Gotshal & Manges LLP, is the Debtor's counsel, with the
engagement led by Sunny Singh, Esq., Ray C. Schrock, P.C., and
Joseph H. Smolinsky, Esq.  The Debtor's investment banker is
Houlihan Lokey Capital, Inc.  The Debtor's restructuring advisor is
Alvarez & Marsal North America, LLC.  The Debtor's claims and
noticing agent is Prime Clerk LLC.

Counsel to the Ad Hoc Group of Consenting Term Lenders:

     Patrick Nash Jr., P.C.
     Gregory Pesce, Esq.
     KIRKLAND & ELLIS LLP
     300 North LaSalle
     Chicago, IL 60654

Counsel to Credit Suisse AG, as administrative agent under the
Amended and Restated Credit Facility Agreement:

     Brian M. Resnick, Esq.
     Michelle McGreal, Esq.
     DAVIS POLK & WARDWELL LLP
     450 Lexington Ave
     New York, NY 10017

Counsel to the Ad Hoc Group of Consenting Senior Noteholders:

     Gregory A. Bray, Esq.
     Haig M. Maghakian, Esq.
     MILBANK, TWEED, HADLEY & MCCLOY LLP
     2029 Century Park East, 33rd Floor
     Los Angeles, CA 90067

          - and -

     Dennis F. Dunne, Esq.
     MILBANK, TWEED, HADLEY & MCCLOY LLP
     28 Liberty Street
     New York, NY 10005

Counsel to Wilmington Savings Fund Society, FSB, a national banking
association, as successor trustee under the Prepetition Senior
Notes Indenture:

     Seth H. Lieberman, Esq.
     Matthew Silverman, Esq.
     Patrick Sibley, Esq.
     PRYOR CASHMAN
     7 Times Square
     New York, NY 10036

Counsel to Wells Fargo Bank, National Association, as trustee under
the Prepetition Convertible Notes Indenture:

     Curtis L. Tuggle, Esq.
     THOMPSON HINE
     335 Madison Avenue, 12th Floor
     New York, NY 10017

Counsel to Credit Suisse First Boston Mortgage Capital LLC, as
administrative agent under the DIP Warehouse Facilities:

     Gerard S. Catalanello, Esq.
     Karen Gelernt, Esq.
     James J. Vincequerra, Esq.
     ALSTON & BIRD LLP
     90 Park Avenue
     New York, NY 10016

Counsel to certain DIP Lenders:

     Sarah M. Ward, Esq.
     Mark A. McDermott, Esq.
     SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP
     Four Times Square
     New York, NY 10036

Counsel to Fannie Mae:

     Darren L. Patrick, Esq.
     Steve Warren, Esq.
     O'MELVENY & MYERS LLP
     400 South Hope Street, 18th Floor
     Los Angeles, CA 90071

         - and -

     Jennifer Taylor, Esq.
     O'MELVENY & MYERS LLP
     Two Embarcadero Center, 28th Floor
     San Francisco, CA 94111

Counsel to Freddie Mac:

     Paul D. Moak, Esq.
     MCKOOL SMITH
     600 Travis Street, Suite 7000
     Houston, TX 77002

          - and -

     Kyle A. Lonergan, Esq.
     MCKOOL SMITH
     One Bryant Park, 47th Floor
     New York, NY 10036


WESTPAC RESTORATION: Ballard Now Counsel After Merger
-----------------------------------------------------
Westpac Restoration, Inc., asks the U.S. Bankruptcy Court for the
District of Colorado to allow its legal counsel to continue to
represent the company in its Chapter 11 case.

The Debtor initially hired Lindquist & Vennum LLP as its legal
counsel, which the court approved on Sept. 28, 2017.  On Jan. 1,
2018, Lindquist & Vennum combined with Ballard Spahr LLP, with the
latter continuing as the combined firm.

In its supplemental application, the Debtor asked the court "to
authorize the continued, uninterrupted employment" of Ballard and
pay these attorneys on an hourly basis for services provided after
Jan. 1:

     Ethan Birnberg     $385
     Chad Jimenez       $285

Ballard continues to hold the pre-bankruptcy retainer of $6,319.95,
which the court approved as part of the initial application to
employ Lindquist & Vennum.

Ballard is a "disinterested person" as defined in Section 101(14)
of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Ethan J. Birnberg, Esq.
     Ballard Spahr LLP
     1225 17th Street, Suite 2300
     Denver, CO 80202-5596
     Direct: 303.454.0528
     Fax: 303.573.1956
     E-mail: birnberge@ballardspahr.com

                   About Westpac Restoration

Westpac Restoration, Inc. -- http://www.westpacrestorations.com/--
is a full service aircraft restoration and maintenance facility,
complete with an FAA approved repair station # ZW8R398Y.

Westpac Restoration filed a Chapter 11 bankruptcy petition (Bankr.
D. Colo. Case No. 17-18211) on Sept. 1, 2017.  In the petition
signed by William R. Klaers, its president and treasurer, the
Debtor disclosed total assets of $330,491 and total liabilities of
$1.50 million.  The Hon. Elizabeth E. Brown presides over the case.
The Debtor hired Lindquist & Vennum, LLP as bankruptcy counsel;
and BKD LLP as its accountant.


WHICKER ASSET: Unsecured Creditors' Recovery Cut to 12%
-------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas has
approved the disclosure statement explaining Whicker Asset
Management, LLC, and Whicker Real Estate Holdings, LLC's amended
plan of liquidation.

Under the Amended Plan, Class 2 - General Unsecured Claims,
estimated at $2,160,000, are impaired.  Each Creditor holding an
Allowed Class 2 Claim will receive, on account of its Allowed Class
2 Claim its Pro Rata share of such amounts in the Unsecured
Distribution Reserve.  Estimated Recovery of Class 2 creditors is
12%.

A full-text copy of the First Amended Disclosure Statement dated
Dec. 20, 2017, is available at:

          http://bankrupt.com/misc/txnb17-30584-235.pdf

                 About Whicker Asset Management

Whicker Asset Management, LLC, and Whicker Real Estate Holdings,
LLC, operate under the name GTM Plastics.  GTM is a manufacturer of
thermoplastic injection molding parts with capabilities for
secondary operations in assembly, hot plate and sonic welding, pad
printing and hot stamping.  For over 50 years, GTM has been
producing quality plastic products for various different
industries, including the automotive industry, HVAC, medical field
and sports industries.  GTM's reputation for providing quality
products and exceptional customer service has made it an industry
leader and landed it on Inc. 5000's fastest growing companies
multiple years in a row.

Whicker Asset Management, LLC, and Whicker Real Estate Holdings,
LLC, both based in Garland, Texas, filed Chapter 11 petitions
(Bankr. N.D. Tex. Lead Case No. 17-30584) on Feb. 15, 2017.
Richard C. Whicker, president, signed the petitions.

Whicker Asset Management estimated $1 million to $10 million in
both assets and liabilities as of the bankruptcy filing.

The Debtors tapped Melanie P. Goolsby, Esq., and Jason Patrick
Kathman, Esq., at Pronske Goolsby & Kathman, P.C., as bankruptcy
counsel.  The Debtors also hired Glenn Cato of CFO Advisory as
chief financial officer and financial advisor; and Molding Business
Services, Inc., as broker.

The Official Committee of Unsecured Creditors, which was formed on
March 6, 2017, has retained Neal, Gerber & Eisenberg LLP as
counsel, and Loewinsohn Flegle Deary Simon LLP as co-counsel.


WILD CALLING: Taps Hoogendyk & Associates as Accountant
-------------------------------------------------------
Wild Calling Pet Foods, LLC received approval from the U.S.
Bankruptcy Court for the District of Colorado to hire Hoogendyk &
Associates, LLC. as its accountant.

The firm will advise the Debtor on various financial, tax and
accounting-related issues; prepare tax returns and periodic
reports; review and prepare information on transfers made by the
Debtor; and provide other services related to its Chapter 11 case.

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

The firm can be reached through:

     Thomas W. Hoogendyk
     Hoogendyk & Associates, LLC
     3711 John F. Kennedy Parkway, Suite 340
     Fort Collins, CO 80525
     Phone: (970) 377-0822
     Fax: (970) 377-0823
     E-mail: tom@tomh-cpa.com

                  About Wild Calling Pet Food

Wild Calling Pet Food, LLC -- http://wildcalling.com/-- is a
relatively new company in the pet food manufacturing industry.
Based in Greeley, Colorado, the family-owned company claims that
its line of dog and cat foods are all natural and grain-free with
added vitamins and minerals.

Wild Calling Pet Food filed a Chapter 11 petition (Bankr. D. Colo.
Case No. 17-19898) on October 25, 2017.  In the petition signed by
CEO Timothy Petersen, the Debtor estimated $500,000 to $1 million
in assets and $1 million to $10 million in liabilities.

The Hon. Thomas B. McNamara presides over the case.  

Joli A. Lofstedt, Esq., at Connolly & Lofstedt, P.C., is the
Debtor's bankruptcy counsel.


WILLIAM NATALE: Uptown Buying Hoboken Property for $975K
--------------------------------------------------------
William Joseph Natale asks the U.S. Bankruptcy Court for the
District of New Jersey to authorize the sale of the real property
located at 910 Hudson Street, Unit 1, Hoboken, New Jersey to Uptown
Hudson Realty, LLC, for $975,000.

A hearing on the Motion is set for Feb. 27, 2018, at 10:00 a.m.  

The Debtor purchased the Property in January 2006 for $1,160,000.
On Aug. 1, 2017, the Debtor filed for relief under Chapter 11 of
the United States Bankruptcy Code, 11 U.S.C. Section 101, et seq.

Pursuant to an appraisal obtained one year prior to the Filing
Date, the Property was appraised at $900,000.  The building where
the Property is located consists of three units.  The second unit
is owned by the Debtor's girlfriend, Claudia A. Mancini.  Ms.
Mancini has a pending Chapter 11 proceeding in the U.S. District
Court for the District of New Jersey at Case No. 16-23040 (SLM).
An Order, as amended, was entered on Jan. 19, 2018, approving the
sale of Unit 2.  The sale for Unit 2 was consummated on Jan. 29,
2018.  The third unit is owned by the Debtor's son, Joseph Natale.

The Property is utilized as the Debtor's primary residence.  On
Aug. 22, 2017, the Debtor filed an application to approve the
retention of Coldwell Banker Residential Broker as realtor for the
Property, which was approved on Sept. 28, 2017.

On Oct. 6, 2017, US Bank, N.A., as trustee, on behalf of the
holders of the J.P. Morgan Mortgage Acquisition Trust 2006-WMC2
Asset Backed Pass-Through Certificates, Series 2006-WMC2 filed its
secured Proof of Claim in the amount of $1,740,617.

In early-2017, the Debtor received an offer for the Property in an
amount less than $900,000, conditioned upon the sale of the other
two units in the Property.  On April 11, 2017, the Debtor received
an offer from Aimee Wang and Dennis Wang, through their designee,
910 Brownstone, LLC ("Original Purchaser") to purchase the Property
for $960,000.

As with other interested potential purchasers, the sale of the
Property was contingent upon the sale of all three units of the
building.  The Original Purchaser had pending contracts for all
three units with the respective owners.  Unit 2 was under contract
with the Original Purchaser for $550,000.  There were certain
delays outside of the Debtor's control in obtaining the short sale
approval of the Debtor's and Ms. Mancini's respective lenders.

In November 2017, the Purchaser made an offer for Unit 2 in the
amount of $575,000, and removed the contingency that all three
units close at once.  The Purchaser was willing to close on Unit 2,
and have the Property and Unit 3 close together.  Therefore, the
contracts pending with the Original Purchaser were terminated, and
a Contract of Sale was entered into with Purchaser for $975,000,
free and clear of all liens, claims and encumbrances.

Joseph's unit is being sold for $1,085,000.  His mortgage is not in
default.  He currently resides in Florida.  The sale of his unit
alone is impossible due to the known financial and foreclosure
issues with the Property and Unit 2.  Joseph has agreed to pay for
costs for an oil tank cleanup at the 910 Property from his sale
proceeds.  As disclosed in Ms. Mancini's proceeding, Joseph agreed
to allocate funds totaling approximately $120,000 to facilitate the
sale of Unit 2, once the closing for Unit 3 has been consummated.

The Debtor engaged in formal short sale discussions directly with
US Bank, through its servicer, Select Portfolio Servicing, Inc.
("SPS") immediately upon the Filing Date.  All documents in the
short sale process had to be re-submitted to SPS once the Purchaser
made an offer.  The Debtor was informed verbally by SPS that the
Property appraised for $950,000.

On Jan. 22, 2018, SPS verbally confirmed that the short sale to the
Purchaser was approved.  On Jan. 29, 2018, the undersigned received
written confirmation of the approval.  Specifically, US Bank has
agreed to fix its claim in the amount of $756,250, and waive any
deficiency claim.  US Bank consents to the payment of condominium
association fees estimated at $80,000, municipal liens of
approximately $10,000, and realtor commissions in the amount of
$48,750 (5% of the purchase price).  Upon information and belief,
there are water and sewer charges totaling approximately $7,900.  

The remaining balance of $80,000 will be used to pay the
Restitution Judgment and customary closing costs (including any
municipal liens exceeding $10,000).  The balance after satisfaction
of those amounts will be held in escrow by the Debtor's undersigned
counsel to be used to make a distribution to creditors in this
Chapter 11 proceeding, including administrative, priority and
general unsecured creditors pursuant to a confirmed Plan of
Reorganization or further Order of the Court.

The Debtor anticipates that the sale of the Property will realize
significant funds for the benefit of the Estate, which will pay off
the secured creditor, US Bank, satisfy brokers' commissions, the
Restitution Judgment, and satisfy municipal and other lien(s)
against the Property.

Given the first mortgage lien of US Bank recorded on Jan. 25, 2006,
there is no equity in the Property, and all lienholders are
properly classified as general unsecured claim.

The Title Commitment obtained by the Purchaser reveals these liens
against the Property:

     a. Julian Orleans, M.D. obtained a Judgment on April 27, 1999
in the amount of $101.

     b. Continental Auto Sales, AC Chevrolet Volkswagen, Inc.
Anthony Nigro and Onofrio Bruno recorded identical judgments
against the Debtor on July 17, 2001 and Oct. 21, 2001 in the amount
of $70,000.

     c. The Second Mortgage lien of Citibank Federal Savings Bank
was recorded on April 3, 2006, in the face amount of $100,000.

     d. The Internal Revenue Service recorded Judgments against the
Debtor from Feb. 18, 2009 through Jan. 27, 2016.  Pursuant to the
Proof of Claim filed by the IRS, these liens total approximately
$312,343.

     e. The Third Mortgage lien of Steven Capiello (now deceased)
was recorded on June 10, 2009, in the face amount of $50,000.

     f. Sovereign Bank recorded a Judgment on Oct. 7, 2009 in the
amount of $92,367.

     g. Valley National Bank recorded a Judgment against the Debtor
on July 28, 2010 in the amount of $110,253.

     h. Capital One Bank recorded a Judgment against the Debtor on
Oct. 4, 2010 in the amount of $10,299.

     i. The State of New Jersey, Division of Taxation recorded
Judgments against the Debtor from Oct. 4, 2010 through Nov. 26,
2015.  Pursuant to the Proof of Claim filed by the State, these
liens total approximately $69,000.

     j. Wilentz, Goldman & Spitzer obtained a Judgment against the
Debtor on April 11, 2011, and was listed as a general unsecured
claim on Schedule F to the petition in the amount of $3,700.

     k. Warren Sordill, DMD obtained a judgment recorded on or
about June 7, 2013 in the amount of $903.

     l. The Presidential Condominium Association obtained a
judgment recorded on Feb. 7, 2017 in the amount of $25,536.

     m. There is also a Judgment in favor of the United States of
America from Dec. 8, 2000, in the amount of $20,000 for restitution
owed by the Debtor.

The Debtor will consider higher and better offers through the sale
hearing.  The creditors have received notice of the sale through
the filing of the Notice of the Sale.  Moreover, the Broker will
continue to show the Property to any interested party upon
request.

The Debtor anticipates that the sale of the Property will realize
significant funds for the benefit of the Estate, which will be used
to satisfy certain debts relating to the Property, and make a
distribution pursuant to a confirmed Plan of Reorganization or
other Order of the Court in the bankruptcy proceeding.

The Debtor asks the Court to waive the stay requirements under Rule
6004(h) in connection with the sale of the estate's interest in the
Property, so the sale can be consummated as soon as practicable.

Counsel for the Debtor:

          TRENK, DIPASQUALE, DELLA FERA & SODONO, P.C.
          347 Mount Pleasant Avenue, Suite 300
          West Orange, NJ 07052
          Telephone: (973) 243-8600

William Joseph Natale previously filed for Chapter 7 protection on
April 30, 2001, at Case No. 01-35038 (NLW).  He received his
discharge in the original bankruptcy proceeding on Aug. 6, 2001.  

William Joseph Natale sought Chapter 11 protection (Bankr. D.N.J.
Case No. 17-25636) on Aug. 1, 2017.  The Debtor tapped Anthony
Sodono, III, Esq., at Trenk, DiPasquale, Della Fera & Sodono, P.C.
Coldwell Banker Residential Broker is the Debtor's realtor.


WOODBRIDGE GROUP: Shutts & Bowen Represents Noteholders
-------------------------------------------------------
Shutts & Bowen LLP filed with the U.S. Bankruptcy Court for the
District of Delaware a verified statement pursuant to Rule 2019 of
the Federal Rules of Bankruptcy Procedure stating that Shutts is
legal counsel to (i) Robert M. Rowe, (ii) Leann M. Rowe, (iii)
Robert E. Rowe, (iv) Norma J. Rowe, (v) David Cox, and (vi)
Margaret Cox in the Chapter 11 cases of Woodbridge Group of
Companies, LLC, and its affiliates.

Shutts has been retained as counsel by the Noteholders for
representation relating to the Debtors and their bankruptcy cases.

The Noteholders, along with the nature and amount of their
respective claims or interests in these bankruptcy cases as of Feb.
1, 2018, include:

     (1) Robert M. Rowe
         Leann M. Rowe
         621 64th Avenue
         St. Pete Beach, FL 33706
         $500,000 (Note)

     (2) Robert E. Rowe and
         Norma J. Rowe
         9055 Scottsboro Highway
         Scottsboro, AL 35769
         $2,000,000 (Notes)

     (3) David Cox and
         Margaret Cox
         458 Babe Wright Road
         Grant, AL 35747
         $130,000 (Notes)

Shutts does not own or have a claim against or interest in the
Debtors.  Pursuant to Bankruptcy Rule 2019(d), Shutts reserves the
right to amend, revise and supplement this Statement.
A copy of the verified statement can be reached at:

            http://bankrupt.com/misc/deb17-12560-476.pdf

Shutts can be reached at:

     Ryan C. Reinert, Esq.
         SHUTTS & BOWEN LLP
         4301 W. Boy Scout Boulevard, Suite 300
         Tampa, Florida 33607
         Tel: (813) 229-8900
         Fax: (813) 229-8901
         E-mail: rreinert@shutts.com

                      About Woodbridge Group

Headquartered in Sherman Oaks, California, The Woodbridge Group
Enterprise -- http://www.woodbridgecompanies.com/-- is a
comprehensive real estate finance and development company.  Its
principal business is buying, improving, and selling high-end
luxury homes.  The Woodbridge Group Enterprise also owns and
operates full-service real estate brokerages, a private investment
company, and real estate lending operations.  The Woodbridge Group
Enterprise and its management team have been in the business of
providing a variety of financial products for more than 35 years,
and have been primarily focused on the luxury home business for the
past five years.  Since its inception, the Woodbridge Group
Enterprise has completed more than $1 billion in financial
transactions.  These transactions involve real estate, note buying
and selling, hard money lending, and alternative financial
transactions involving thousands of investors.

Woodbridge Group of Companies and certain of its affiliates filed
Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No.
17-12560) on Dec. 4, 2017.  Woodbridge estimated assets and
liabilities at between $500 million and $1 billion.

Judge Kevin J. Carey presides over the case.

Samuel A. Newman, Esq., Oscar Garza, Esq., Daniel B. Denny, Esq.,
Jennifer L. Conn, Esq., Eric J. Wise, Esq., Matthew K. Kelsey,
Esq., and Matthew P. Porcelli, Esq., at Gibson, Dunn & Crutcher,
LLP, and Sean M. Beach, Esq., Edmon L. Morton, Esq., Ian J.
Bambrick, Esq., and Allison S. Mielke, Esq., at Young Conaway
Stargatt & Taylor, LLP, serve as the Debtors' bankruptcy counsel.
Homer Bonner Jacobs, PA, as special counsel, Province, Inc., as
expert consultant, Moelis & Company LLC, as investment banker.

The Debtors' financial advisors are Larry Perkins, John Farrace,
Robert Shenfeld, Reece Fulgham, Miles Staglik, and Lissa Weissman
at SierraConstellation Partners, LLC.  Beilinson Advisory Group is
serving as independent management to the Debtors.  Garden City
Group, LLC, is the Debtors' claims and noticing agent.

Pachulski Stang Ziehl & Jones is counsel to the Official Committee
of Unsecured Creditors; and FTI Consulting, Inc., serves as its
financial advisor.


[*] 12 Ervin Cohen & Jessup Attorneys Named to Super Lawyers List
-----------------------------------------------------------------
Los Angeles law firm Ervin Cohen & Jessup LLP on Feb. 5, 2018,
announced that 12 of its attorneys have been selected to a Super
Lawyers(R) List.

"Only five percent of attorneys statewide are selected," said the
firm's Co-Managing Partner Barry MacNaughton.  "It's especially
meaningful when that praise comes from our peers at competing law
firms."

Mr. MacNaughton emphasized how the honors mirror the high standard
of excellence that the firm's attorneys set for themselves.  "We're
honored to be recognized for the work we perform on behalf of our
clients," he said.

The national rating service annually identifies outstanding lawyers
from more than 70 practice areas who attained a high degree of peer
recognition and professional achievement.  

The following ECJ lawyers were selected in their practice areas for
2018:

   -- Colleen Calkins, Estate and Probate;
   -- Howard Camhi, Creditor and Debtor Rights;
   -- Reeve Chudd, Estate and Probate;
   -- Peter Davidson, Creditor and Debtor Rights;
   -- Jeffrey Glassman, Corporate;
   -- Geoffrey Gold, Litigation;
   -- Byron Moldo, Creditor and Debtor Rights;
   -- Kelly Scott, Employment;
   -- Rusty Selmont, Litigation;
   -- Ellia Thompson, Land Use and Zoning;
   -- Albert Valencia, Real Estate; and,
   -- Pantea Yashar, Litigation.

Ervin Cohen & Jessup LLP -- http://www.ecjlaw.com/-- is a
full-service firm that provides a broad range of business-related
legal services including corporate law; litigation; intellectual
property & technology law; real estate transactions, land use and
finance; construction & environmental law; tax planning and
controversies; employment law; health care law; bankruptcy,
receivership and reorganization; and estate planning.


[*] Ballard Spahr's Ethan Birnberg Wins Cordova Service Award
-------------------------------------------------------------
Ethan J. Birnberg, a litigator who focuses on bankruptcy and
restructuring cases, has received the Donald E. Cordova
Distinguished Service Award in recognition of his commitment to
providing pro bono legal services to indigent debtors.

Mr. Birnberg, who is based in Ballard Spahr's Denver office,
received the Cordova Award on January 26, 2018, during the American
Bankruptcy Institute (ABI) Annual Rocky Mountain Bankruptcy
Conference.  The honor is awarded annually by the Faculty of
Federal Advocates, a nonprofit organization of attorneys dedicated
to improving the quality of legal practice in Colorado federal
courts.  Named in memory of the Honorable Donald E. Cordova, former
Chief Bankruptcy Judge of the District of Colorado, the award
honors an attorney with the passion and dedication to pro bono
service for which Judge Cordova was well known.  The Honorable
Michael E. Romero, the current Chief Bankruptcy Judge of the
District of Colorado, presented the award to Mr. Birnberg during a
ceremony at the ABI conference.

"This award is a tremendous acknowledgement of Ethan's compassion
and contributions made over many years," said Steven W. Suflas,
Ballard Spahr's Office Managing Partner in its Denver and Boulder
locations.  "Ethan is an outstanding attorney who uses his skills
to help the less fortunate, and in doing so brings credit to
himself, our firm, and the profession as a whole.  We are proud of
his accomplishments and his commitment."

Mr. Birnberg joined Ballard Spahr's Denver office last month
through the firm's merger with Lindquist & Vennum, a
Minneapolis-based firm with a Denver location.  Ballard Spahr's
expansion in Denver further deepens the firm's capabilities to
serve clients in the region, including in bankruptcy and
reorganization matters.  As a member of Ballard Spahr's Bankruptcy,
Reorganization and Capital Recovery Group, Mr. Birnberg represents
debtors, trustees, creditors, and receivers.  His work spans
industries­including energy, hospitality, and technology­and a
variety of matters, from corporate restructuring, workouts, and
asset sales to advising on fiduciary duties and handling
adversarial proceedings.

Last month's merger also expands Ballard Spahr's nationally
renowned pro bono program, a longtime hallmark of the firm.  In
addition to the Faculty of Federal Advocates' Bankruptcy Pro Bono
Program, attorneys and staff in Denver support a variety of local
and national bar, civic, and charitable causes, including the
Colorado Lawyers Committee, the Anti-Defamation League, Wills for
Heroes, the Sam Cary Bar Association, the Airport Minority Advisory
Council, and the Downtown Denver Partnership.

                      About Ballard Spahr

Ballard Spahr LLP, an Am Law 100 law firm with more than 650
lawyers in 15 offices in the United States, provides a range of
services in litigation, business and finance, real estate,
intellectual property, and public finance.  Its clients include
Fortune 500 companies, financial institutions, life sciences and
technology companies, health systems, investors and developers,
government agencies, media clients, educational institutions, and
nonprofit organizations.  The firm combines a national scope of
practice with strong regional market knowledge.


[*] Bruce Passen Joins Tiger Group as Managing Director
-------------------------------------------------------
Bruce Passen, a 40-year veteran of the debt purchasing field and
former principal of Bikaver Group and CEO of Hilco Receivables, has
joined Tiger Group as Managing Director of the company's
newly-formed Tiger Receivables division.

Based in Chicago, Mr. Passen will direct all account receivables
(A/R) purchase activities for the asset valuation, advisory and
disposition services firm.  His role includes sourcing A/R purchase
opportunities, as well as reviewing pricing and collection
strategies for all A/R portfolios that are purchased by Tiger or
managed on a fee basis for the firm's clients.  He reports to Tiger
CEO and Managing Member Dan Kane.

"As some of our transactions involve purchasing or assisting in
collecting accounts receivable, we realized that having in-house
expertise was important," said Mr. Kane.  "With his experience and
knowledge of the accounts receivable business, Bruce is the perfect
person to lead our new division."

Most recently, from 2010 to 2017, Mr. Passen was a principal with
Bikaver Group, LLC in Chicago, where he provided consulting
services for banks and other financial institutions to value A/R
pools, and was also involved in the purchase and co-purchase of
portfolios on a deal-by-deal basis.  Prior to that, he was CEO of
Steamboat Partners LLC, a Chicago-based start-up focused on
purchasing commercial debt from companies that were in liquidation,
as well as appraising debt values for banks and other financial
institutions.

From 2000 to 2007, as CEO of Hilco Receivables, Mr. Passen managed
the start-up and operations of the Chicago-based business.  At the
time the business was sold to Cerebus in 2007, it was managing over
$5 billion (face value) of consumer and commercial debt. Earlier in
his career, he was CEO of debt collection company Abacus Financial
Management Services, also in Chicago.

A resident of Chicago, Mr. Passen earned a B.A. from the University
of Colorado, Boulder.


[*] Middleton Joins Houlihan Lokey's Hong Kong Restructuring Team
-----------------------------------------------------------------
Houlihan Lokey, the global investment bank, on Feb. 4, 2018,
disclosed that Edward Middleton has joined the firm as a Managing
Director and Co-Head of Financial Restructuring, Asia alongside
Brandon Gale.  He is based in Hong Kong.

Mr. Middleton enjoys an excellent reputation in the international
restructuring community, having been a partner at KPMG, where for
10 years he was Head of its Restructuring Services practice in
China and the Asia-Pacific region.  In this role, Mr. Middleton
oversaw formal insolvency and regulatory appointments, out-of-court
financial restructuring, crisis management appointments, and
operational turnarounds for stressed and distressed assets.  Mr.
Middleton has spent more than 20 years in Asia, and his experience
spans nearly every major industry sector, including banking and
financial services, securities, energy and natural resources,
transport and distribution, construction, hotels and leisure,
electronics, manufacturing, technology, retail, and luxury goods.
He began his restructuring career in the U.K. in 1989.

"We are looking to selectively expand our restructuring teams in
Hong Kong and Singapore in line with growth in the Asian debt
capital markets and with a focus on developing expertise outside
our core market segment," said Joseph Swanson, Senior Managing
Director and Co-Head of Houlihan Lokey's European Financial
Restructuring Group, who also oversees the firm's Financial
Restructuring business in Asia.  "As a practice leader with an
outstanding track record of advising on nearly every type of
restructuring engagement, Eddie is the perfect candidate to join
our team in Hong Kong.  I'm confident he will be tremendously
beneficial both to our clients and to Houlihan Lokey's continued
growth in the region," he continued.

"With a decades-long reputation as a global leader in financial
restructuring and recent expansion of its Financial Restructuring
efforts in Sydney and Dubai, Houlihan Lokey is an incredibly
exciting opportunity for me.  I look forward to partnering with
Brandon and leveraging my experience, relationships, and expertise
to provide our clients with the superior advice and solutions they
have come to expect," said Mr. Middleton.

Mr. Middleton holds a B.A. in Economics & Politics from the
University of Manchester.  He is a fellow of INSOL International
and a member of the International Insolvency Institute, as well as
holds fellowship status of both the Association of Chartered
Certified Accountants and the Hong Kong Institute of Certified
Public Accountants.

Houlihan Lokey (NYSE:HLI) is a global investment bank with
expertise in mergers and acquisitions, capital markets, financial
restructuring, valuation, and strategic consulting.  The firm
serves corporations, institutions, and governments worldwide with
offices in the United States, Europe, the Middle East, and the
Asia-Pacific region.  Independent advice and intellectual rigor are
hallmarks of the firm's commitment to client success across its
advisory services.  Houlihan Lokey is ranked as the No. 1 M&A
advisor for all U.S. transactions, the No. 1 global restructuring
advisor, and the No. 1 global M&A fairness opinion advisor over the
past 20 years, according to Thomson Reuters.


[*] Moody's B3 Negative and Lower Corporate Ratings Down in January
-------------------------------------------------------------------
The number of companies on its B3 Negative and Lower Corporate
Ratings List declined again in January to reach its lowest level
since May 2015, Moody's Investors Service says in a new report. The
list now includes 204 companies, and accounts for 13.7% of the
total speculative-grade population.

"A mix of defaults, rating upgrades and rating withdrawals saw
Moody's list of lower-rated companies diminish again last month,"
said Julia Chursin, a Moody's Associate Analyst. "Benign rating
actions topped defaults, reflecting a favorable risk environment
for speculative-grade issuers and signaling a further decline in
the spec-grade default rate in the near term."

Pockets of credit weakness remain, however, Chursin says, but are
confined to just two sectors, with default activity occurring
mainly among oil and gas and retail companies in January.

Oil & Gas sector representation among B3-PD negative and lower
rated companies has been steadily shrinking, and at 19%, is now
almost on par with Consumer/Business Services, at 17%. The Retail
sector, including apparel/shoes, makes up the third-largest portion
of the list, at 12%.

Currently only six sectors account for 20% or more of the B3
Negative and Lower Corporate Ratings List, Moody's says, compared
with 17% when the number of companies on the list peaked during the
financial crisis.

The Moody's report is captioned "Moody's B3 Negative and Lower
Corporate Ratings List".


[*] Outten & Golden Bags Law360 Practice Group of the Year Award
----------------------------------------------------------------
Outten & Golden LLP's Class Action Practice Group and its WARN Act
Practice Group have been selected as 2017 Practice Groups of the
Year in the categories of Employment and Bankruptcy, respectively.
The awards go to law firms that have won particularly impressive
victories during the year.

"I am very proud that Law 360 has awarded this special recognition
to two of our Practice Groups," said Wayne N. Outten, the managing
partner of Outten & Golden, the largest employee-side employment
law firm in the United States.  "Notably, Outten & Golden is the
only employee-side firm recognized in either of those categories.
Adam Klein started our Class Action Practice Group in 2000 and was
joined by Justin M. Swartz in 2003; they have built one of the
largest and best employee-side class action practices in the United
States, with an extraordinary team of talented and dedicated
lawyers.  And, over the past ten years, Rene Roupinian and Jack
Raisner have built our WARN Act Practice Group into the premier
practice representing employees in WARN Act cases."

Adam T. Klein, the deputy managing partner at Outten & Golden,
said, "We are delighted to be recognized by Law360 as a 2017
Practice Group of the Year recipient for two of our Practice
Groups.  The honor is due to the hard work and dedication of the
lawyers, paralegals, and non-lawyer staff of the entire firm."

The Employment Practice Group award is based on two major victories
during 2017 on behalf of veterans under the Uniformed Services
Employment and Reemployment Rights Act, plus a favorable jury
verdict in an FLSA misclassification case in Connecticut.  Peter
Romer-Friedman was the lead lawyer on the USERRA cases and Jahan
Sagafi was the lead lawyer on the FLSA case.

The Bankruptcy Practice Group award is centered largely on the
firm's prosecution of a precedent-setting case to the U.S. Supreme
Court, in which the Court struck a blow to the trend of structured
settlements by requiring Bankruptcy Courts to honor the absolute
priority rule for creditors.  "Most of our [WARN] cases, more than
90 percent, are litigated in bankruptcy court," said Jack Raisner.
"We have the experience of the deep bench at the firm with respect
to employment law, but we also have the experience in the
bankruptcy court."

From Law360: "Law360 selects practice groups with an eye toward
landmark matters and general excellence, Law360 selected 157
winning groups across 34 practice areas.  In the awards program's
seventh year, the Practice Groups of the Year hailed from 80 law
firms and rose to the top of 619 submissions."

Outten & Golden -- https://www.outtengolden.com/ -- focuses on
representing employees in employment and related workplace matters.
Its class action practice group handles cases involving a wide
range of employment issues, including economic exploitation,
gender- and race-based discrimination, wage-and-hour violations,
violations of the WARN Act, and other systemic workers' rights
issues.  The firm also represents individual employees with a wide
variety of claims, including discrimination and harassment based on
sex, sexual orientation, gender identity and expression, race,
disability, national origin, religion, and age, as well as
retaliation, whistleblower, and contract claims.  In addition, the
firm counsels individuals on employment and severance agreements;
handles complex compensation and benefits issues (including
bonuses, commissions, and stock/ option agreements); and advises
professionals (including doctors and lawyers) on contractual
issues.

Outten & Golden has nine practice groups: Executives &
Professionals, Financial Services, Sexual Harassment & Sex
Discrimination, Family Responsibilities & Disabilities
Discrimination, Lesbian Gay Bisexual Transgender & Queer Workplace
Rights, Discrimination & Retaliation, Whistleblower Retaliation,
Class & Collective Actions, and WARN Act.

Outten & Golden has offices in New York, Chicago, San Francisco,
and Washington, DC.


[*] Restructuring Vet Jim McKnight Joins Houlihan Lokey in Sidney
-----------------------------------------------------------------
Houlihan Lokey, Inc., the global investment bank, on Jan. 31. 2018,
disclosed that Jim McKnight has joined the firm as a Managing
Director.  He is based in Sydney and will lead the firm's Financial
Restructuring efforts in Australia.

Mr. McKnight joins from Fort Street Advisers, where he was a
Principal and Head of Restructuring since 2013.  Prior to Fort
Street Advisers, he spent more than a decade at UBS, where he was
Head of Asia Pacific Restructuring and Head of Debt Advisory for
Australia.  Mr. McKnight has advised corporates, lenders,
governments, and shareholders across a wide range of sectors,
including energy, real estate, transportation, retail,
infrastructure, and public-private partnerships, among others.
Noteworthy restructuring engagements include the Wiggins Island
Coal Export Terminal, BrisConnections, Griffin Coal, Asciano,
Centro Retail Trust, GPT, Hong Kong Disneyland, SK Global, Seiyu,
Network Ten, and Reliance Rail.

"With eighteen years of experience in investment banking, and
having advised on many of the most high-profile and complex
restructurings in the Asia-Pacific region, Jim is a perfect
candidate to join our restructuring team in Australia," said Eric
Siegert, Co-Head of Financial Restructuring at Houlihan Lokey.
"Our clients in Australia are already deriving substantial value
from his expertise, and I'm confident that he will continue to be
of tremendous benefit to them and to Houlihan Lokey's continued
growth as we add talented, experienced bankers around the world,"
he continued.

"Houlihan Lokey's reputation as a stellar restructuring advisor for
both companies and creditors is well-known, and joining a firm that
consistently leads the bankruptcy and restructuring league tables
around the world was a very easy decision.  The firm's growth and
momentum in Australia represent an exciting opportunity for me, and
I look forward to further enhancing client service and growing the
firm's client base in the region," said Mr. McKnight.

Mr. McKnight holds a B.Acc. from the University of Glasgow and an
MBA from Strathclyde Graduate Business School.  He is also a
Chartered Accountant with the Institute of Chartered Accountants of
Scotland.

Houlihan Lokey (NYSE:HLI) is a global investment bank with
expertise in mergers and acquisitions, capital markets, financial
restructuring, valuation, and strategic consulting. The firm serves
corporations, institutions, and governments worldwide with offices
in the United States, Europe, the Middle East, and the Asia-Pacific
region.  Independent advice and intellectual rigor are hallmarks of
the firm's commitment to client success across its advisory
services.  Houlihan Lokey is ranked as the No. 1 M&A advisor for
all U.S. transactions, the No. 1 global restructuring advisor, and
the No. 1 global M&A fairness opinion advisor over the past 20
years, according to Thomson Reuters.


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Entertainment City Properties Inc.
   Bankr. M.D. Fla. Case No. 18-00422
      Chapter 11 Petition filed January 25, 2018
         See http://bankrupt.com/misc/flmb18-00422.pdf
         Filed Pro Se

In re Markus Anthony Boyd
   Bankr. C.D. Cal. Case No. 18-10628
      Chapter 11 Petition filed January 26, 2018
         represented by: Nicholas W Gebelt, Esq.
                         E-mail: ngebelt@goodbye2debt.com

In re Harb Properties, LLC
   Bankr. N.D. Ohio Case No. 18-10436
      Chapter 11 Petition filed January 26, 2018
         See http://bankrupt.com/misc/ohnb18-10436.pdf
         represented by: Susan M. Gray, Esq.
                         SUSAN M. GRAY ATTYS & COUNSELORS AT LAW
                         E-mail: ecf@smgraylaw.com

In re Marlex Enterprises Ltd.
   Bankr. W.D. Wash. Case No. 18-10330
      Chapter 11 Petition filed January 26, 2018
         See http://bankrupt.com/misc/wawb18-10330.pdf
         represented by: Barry W. Davidson, Esq.
                         DAVIDSON BACKMAN MEDEIROS PLLC
                         E-mail: bdavidson@dbm-law.net

In re Raymond S. Gibler
   Bankr. D. Colo. Case No. 18-10543
      Chapter 11 Petition filed January 26, 2018
         represented by: Jeffrey S. Brinen, Esq.
                         E-mail: jsb@kutnerlaw.com

In re Mariekarl Vilceus-Talty
   Bankr. D.N.J. Case No. 18-11620
      Chapter 11 Petition filed January 26, 2018
         represented by: Cassandra C. Norgaard, Esq.
                         NORGAARD O'BOYLE
                         E-mail: cnorgaard@norgaardfirm.com

In re Franklin Medina
   Bankr. D.N.J. Case No. 18-11629
      Chapter 11 Petition filed January 26, 2018
         represented by: David L. Stevens, Esq.
                         SCURA, WIGFIELD, HEYER & STEVENS
                         E-mail: dstevens@scuramealey.com

In re Henry A. Rodriguez-Martin
   Bankr. S.D. Fla. Case No. 18-10993
      Chapter 11 Petition filed January 27, 2018
         represented by: Chad T. Van Horn, Esq.
                         E-mail: Chad@cvhlawgroup.com

In re S. Furniture Master LLC
   Bankr. E.D.N.Y. Case No. 18-40465
      Chapter 11 Petition filed January 28, 2018
         See http://bankrupt.com/misc/nyeb18-40465.pdf
         represented by: Gabriel Del Virginia, Esq.
                         LAW OFFICES OF GABRIEL DEL VIRGINIA
                         E-mail: gabriel.delvirginia@verizon.net

In re Electronic Service Provider, Inc.
   Bankr. W.D. Wash. Case No. 18-10338
      Chapter 11 Petition filed January 28, 2018
         See http://bankrupt.com/misc/wawb18-10338.pdf
         represented by: Patrick H. Brick, Esq.
                         PATRICK HENRY BRICK                       
  
                         E-mail: bricklaw@msn.com

In re B & C Hidden Acres LLC
   Bankr. N.D. Ala. Case No. 18-00360
      Chapter 11 Petition filed January 29, 2018
         See http://bankrupt.com/misc/alnb18-00360.pdf
         represented by: C. Taylor Crockett, Esq.
                         C. TAYLOR CROCKETT. P.C.                  
       E-mail: taylor@taylorcrockett.com

In re 2275 NE 120 Street, LLC
   Bankr. S.D. Fla. Case No. 18-11110
      Chapter 11 Petition filed January 29, 2018
         See http://bankrupt.com/misc/flsb18-11110.pdf
         represented by: Peter D. Spindel, Esq.
                         E-mail: peterspindel@gmail.com

In re I & I Pizza of Atlanta, Inc.
   Bankr. N.D. Ga. Case No. 18-51404
      Chapter 11 Petition filed January 29, 2018
         See http://bankrupt.com/misc/ganb18-51404.pdf
         represented by: Paul Reece Marr, Esq.
                         PAUL REECE MARR, P.C.
                         E-mail: paul@paulmarr.com

In re L & I Food, Inc.
   Bankr. N.D. Ga. Case No. 18-51405
      Chapter 11 Petition filed January 29, 2018
         See http://bankrupt.com/misc/ganb18-51405.pdf
         represented by: Paul Reece Marr, Esq.
                         PAUL REECE MARR, P.C.
                         E-mail: paul@paulmarr.com

In re Nelson Trucking, LLC
   Bankr. D. Md. Case No. 18-11183
      Chapter 11 Petition filed January 29, 2018
         See http://bankrupt.com/misc/mdb18-11183.pdf
         represented by: Brett Weiss, Esq.
                         CHUNG & PRESS, LLC
                         E-mail: brett@bankruptcylawmaryland.com

In re Daniel Eke And Associates, P.C.
   Bankr. D. Md. Case No. 18-11192
      Chapter 11 Petition filed January 29, 2018
         See http://bankrupt.com/misc/mdb18-11192.pdf
         represented by: Steven L. Goldberg, Esq.
                         MCNAMEE HOSEA ET AL.
                         E-mail: sgoldberg@mhlawyers.com

In re Nutrition Care, Inc.
   Bankr. D.P.R. Case No. 18-00394
      Chapter 11 Petition filed January 29, 2018
         See http://bankrupt.com/misc/prb18-00394.pdf
         represented by: Tomas F. Blanco Perez, Esq.
                         MRO ATTORNEYS AT LAW, LLC
                         E-mail: tbp@prbankruptcy.com

In re Francisca Resto Montanez
   Bankr. D.P.R. Case No. 18-00395
      Chapter 11 Petition filed January 29, 2018
         See http://bankrupt.com/misc/prb18-00395.pdf
         represented by: Tomas F. Blanco Perez, Esq.
                         MRO ATTORNEYS AT LAW, LLC
                         E-mail: tbp@prbankruptcy.com

In re Frances Management Services Corp.
   Bankr. D.P.R. Case No. 18-00396
      Chapter 11 Petition filed January 29, 2018
         See http://bankrupt.com/misc/prb18-00396.pdf
         represented by: Tomas F. Blanco Perez, Esq.
                         MRO ATTORNEYS AT LAW, LLC
                         E-mail: tbp@prbankruptcy.com

In re Gary S. Bobileff
   Bankr. S.D. Cal. Case No. 18-00457
      Chapter 11 Petition filed January 30, 2018
         represented by: Jack Fitzmaurice, Esq.
                         FITZMAURICE & DEMERGIAN
                         E-mail: jackf@fitzmauricelaw.com

In re Benny Chastain
   Bankr. N.D. Fla. Case No. 18-40040
      Chapter 11 Petition filed January 30, 2018
         represented by: Byron Wright, III, Esq.
                         BRUNER WRIGHT, P.A.
                         E-mail: twright@brunerwright.com

In re James H. Alford, Jr.
   Bankr. S.D. Miss. Case No. 18-00301
      Chapter 11 Petition filed January 30, 2018
         represented by: John D. Moore, Esq.
                         E-mail: john@johndmoorepa.com

In re Mark A. Filippone and Yolanda Filippone
   Bankr. D.N.J. Case No. 18-11884
      Chapter 11 Petition filed January 30, 2018
         represented by: David L. Stevens, Esq.
                         SCURA, WIGFIELD, HEYER & STEVENS
                         E-mail: dstevens@scuramealey.com

In re Mercer's Collision Center, Inc.
   Bankr. E.D. Pa. Case No. 18-10567
      Chapter 11 Petition filed January 30, 2018
         See http://bankrupt.com/misc/paeb18-10567.pdf
         represented by: Thomas P. Heeney, Jr., Esq.
                         HEENEY & ASSOCIATES, P.C.
                         E-mail: theeneyjr@aol.com

In re Minneapolis Development Corporation
   Bankr. D.P.R. Case No. 18-00430
      Chapter 11 Petition filed January 30, 2018
         See http://bankrupt.com/misc/prb18-00430.pdf
         Filed Pro Se

In re Northrup Properties North LLC
   Bankr. M.D. Fla. Case No. 18-00515
      Chapter 11 Petition filed January 30, 2018
         See http://bankrupt.com/misc/flmb18-00515.pdf
         Filed Pro Se

In re Russell Scott Goldfarb
   Bankr.D. Conn. Case No. 18-50104
      Chapter 11 Petition filed January 31, 2018
         Filed Pro Se

In re Benno Janssen, III and Kelly Lyn Janssen
   Bankr. S.D. Fla. Case No. 18-11265
      Chapter 11 Petition filed January 31, 2018
         represented by: Craig I. Kelley, Esq.
                         E-mail: craig@kelleylawoffice.com

In re Thomas F. Jones, P.C.
   Bankr. N.D. Ga. Case No. 18-51612
      Chapter 11 Petition filed January 31, 2018
         See http://bankrupt.com/misc/ganb18-51612.pdf
         represented by: Thomas F. Jones, Esq.
                         JONES & ASSOCIATES
                         E-mail: jonestf@aol.com

In re Anthony Wayne Salter and Mary Frances Salter
   Bankr. S.D. Iowa Case No. 18-00194
      Chapter 11 Petition filed January 31, 2018
         represented by: Nicole B Hughes, Esq.
                         E-mail: nhughes@telpnerlaw.com

In re 3A EXPRESS INC
   Bankr. E.D. Mich. Case No. 18-20167
      Chapter 11 Petition filed January 31, 2018
         See http://bankrupt.com/misc/mieb18-20167.pdf
         represented by: Peter T. Mooney  , Esq.
                         SIMEN, FIGURA & PARKER
                         E-mail: pmooney@sfplaw.com

In re Eddie Lee Washington, Jr.
   Bankr. E.D. Mich. Case No. 18-41266
      Chapter 11 Petition filed January 31, 2018
         represented by: Matthew W. Frank, Esq.
                         E-mail: frankandfrankpllc@gmail.com

In re King Displays, Inc.
   Bankr. S.D.N.Y. Case No. 18-10228
      Chapter 11 Petition filed January 31, 2018
         See http://bankrupt.com/misc/nysb18-10228.pdf
         represented by: Gabriel Del Virginia, Esq.
                         LAW OFFICES OF GABRIEL DEL VIRGINIA
                         E-mail: gabriel.delvirginia@verizon.net

In re VSAC, LLC
   Bankr. W.D. Pa. Case No. 18-20337
      Chapter 11 Petition filed January 31, 2018
         See http://bankrupt.com/misc/pawb18-20337.pdf
         represented by: Francis E. Corbett, Esq.
                         E-mail: fcorbett@fcorbettlaw.com

In re BROOKC LLC
   Bankr. M.D. Tenn. Case No. 18-00586
      Chapter 11 Petition filed January 31, 2018
         See http://bankrupt.com/misc/tnmb18-00586.pdf
         represented by: STEVEN L. LEFKOVITZ, Esq.
                         LAW OFFICES LEFKOVITZ & LEFKOVITZ
                         E-mail: slefkovitz@lefkovitz.com

In re Timothy J. Martin and Zonda L. Martin
   Bankr. E.D. Tex. Case No. 18-40193
      Chapter 11 Petition filed January 31, 2018
         represented by: Christopher J. Moser, Esq.
                         QUILLING SELANDER LOWNDS WINSLETT MOSER
                         E-mail: cmoser@qslwm.com

In re Robert H. Steelhammer
   Bankr. S.D. Tex. Case No. 18-30385
      Chapter 11 Petition filed January 31, 2018
         represented by: Walter J. Cicack, Esq.
                         HAWASH CICACK & GASTON LLP
                         E-mail: wcicack@hcgllp.com

In re Gary Stephen Gelzer
   Bankr. C.D. Cal. Case No. 18-10287
      Chapter 11 Petition filed January 31, 2018
         represented by: R. Gary Seamans, Esq.
                         LAW OFFICES OF R GARY SEAMANS
                         E-mail: gary@garyseamans.com

In re Allison R. Edwards, M.D. P.A.
   Bankr. D. Md. Case No. 18-11331
      Chapter 11 Petition filed January 31, 2018
         See http://bankrupt.com/misc/mdb18-11331.pdf
         represented by: Charles Earl Walton, Esq.
                         Walton Law Group, LLC
                         E-mail: cwalton@cwaltonlaw.com

In re Kevin Finnerty
   Bankr. N.D. Ohio Case No. 18-10515
      Chapter 11 Petition filed January 31, 2018
         represented by: Dennis J. Kaselak, Esq.
                         E-mail: dkaselak@peteribold.com

In re Monster Concrete and Excavation, Inc.
   Bankr. N.D. Ala. Case No. 18-80279
      Chapter 11 Petition filed February 1, 2018
         See http://bankrupt.com/misc/alnb18-80279.pdf
         represented by: Kevin D. Heard, Esq.
                         HEARD, ARY & DAURO, LLC
                         E-mail: kheard@heardlaw.com

In re Monster Concrete, LLC
   Bankr. N.D. Ala. Case No. 18-80280
      Chapter 11 Petition filed February 1, 2018
         See http://bankrupt.com/misc/alnb18-80280.pdf
         represented by: Kevin D. Heard, Esq.
                         HEARD, ARY & DAURO, LLC
                         E-mail: kheard@heardlaw.com

In re Henrik Andreas Ingvarsson and Keri Ingvarsson
   Bankr. C.D. Cal. Case No. 18-10309
      Chapter 11 Petition filed February 1, 2018
         represented by: Matthew D. Resnik, Esq.
                         SIMON RESNIK HAYES LLP
                         E-mail: matt@srhlawfirm.com

In re Brickenmore East, LLC
   Bankr. D. Conn. Case No. 18-20163
      Chapter 11 Petition filed February 1, 2018
         See http://bankrupt.com/misc/ctb18-20163.pdf
         Filed Pro Se

In re 9 Thompson Road, LLC
   Bankr. D. Conn. Case No. 18-20164
      Chapter 11 Petition filed February 1, 2018
         See http://bankrupt.com/misc/ctb18-20164.pdf
         Filed Pro Se

In re Pivar Investments of USA. Inc.
   Bankr. S.D. Fla. Case No. 18-11282
      Chapter 11 Petition filed February 1, 2018
         See http://bankrupt.com/misc/flsb18-11282.pdf
         Filed Pro Se

In re TMB Vieux Carre, LLC
   Bankr. E.D. La. Case No. 18-10240
      Chapter 11 Petition filed February 1, 2018
         See http://bankrupt.com/misc/laeb18-10240.pdf
         represented by: Robert L. Marrero, Esq.
                         ROBERT MARRERO, LLC
                         E-mail: marrero1035@bellsouth.net

In re Captain Nemos Subs and Salads, L.L.C.
   Bankr. E.D. Mich. Case No. 18-41307
      Chapter 11 Petition filed February 1, 2018
         See http://bankrupt.com/misc/mieb18-41307.pdf
         represented by: Edward J. Gudeman, Esq.
                         GUDEMAN & ASSOCIATES, P.C.
                         E-mail: ejgudeman@gudemanlaw.com

In re All American Readers, Inc.
   Bankr. D. Minn. Case No. 18-40308
      Chapter 11 Petition filed February 1, 2018
         See http://bankrupt.com/misc/mnb18-40308.pdf
         represented by: Chad A. Kelsch, Esq.
                         FULLER, SEAVER, SWANSON & KELSCH PA
                         E-mail: ckelsch@fssklaw.com

In re Joshua B. Day
   Bankr. D.N.D. Case No. 18-30045
      Chapter 11 Petition filed February 1, 2018
         represented by: Sara Diaz, Esq.
                         BULIE DIAZ LAW OFFICE
                         E-mail: sara@bulielaw.com

In re Betsy Alexa Guerra
   Bankr. D.N.J. Case No. 18-12076
      Chapter 11 Petition filed February 1, 2018
         represented by: Thaddeus R. Maciag, Esq.
                         MACIAG LAW, LLC
                         E-mail: MaciagLaw1@aol.com

In re 1080 Union Street Corp.
   Bankr. E.D.N.Y. Case No. 18-40588
      Chapter 11 Petition filed February 1, 2018
         See http://bankrupt.com/misc/nyeb18-40588.pdf
         Filed Pro Se

In re Wentz Didier Maeller
   Bankr. E.D.N.Y. Case No. 18-40599
      Chapter 11 Petition filed February 1, 2018
         Filed Pro Se

In re Danny's Athens Diner Inc.
   Bankr. E.D.N.Y. Case No. 18-40632
      Chapter 11 Petition filed February 1, 2018
         See http://bankrupt.com/misc/nyeb18-40632.pdf
         represented by: Lawrence Morrison, Esq.
                         MORRISON TENENBAUM, PLLC
                         E-mail: lmorrison@m-t-law.com

In re Shandelee Lake LLC
   Bankr. S.D.N.Y. Case No. 18-10265
      Chapter 11 Petition filed February 1, 2018
         See http://bankrupt.com/misc/nysb18-10265.pdf
         represented by: H. Bruce Bronson, Jr., Esq.
                         BRONSON LAW OFFICES, P.C.
                         E-mail: ecf@bronsonlaw.net

In re Gloria M Moronta
   Bankr. S.D.N.Y. Case No. 18-22173
      Chapter 11 Petition filed February 1, 2018
         represented by: Anne J. Penachio, Esq.
                         PENACHIO MALARA LLP
                         E-mail: apenachio@pmlawllp.com

In re Farnan Inc.
   Bankr. W.D. Pa. Case No. 18-20378
      Chapter 11 Petition filed February 1, 2018
         See http://bankrupt.com/misc/pawb18-20378.pdf
         represented by: Christopher M. Frye, Esq.
                         STEIDL & STEINBERG
                         E-mail: chris.frye@steidl-steinberg.com

In re Pedro Julio Acosta Diaz and Khandie Charrisse Berrios Ocasio
   Bankr. D.P.R. Case No. 18-00561
      Chapter 11 Petition filed February 1, 2018
         represented by: Teresa M. Lube Capo, Esq.
                         LUBE & SOTO LAW OFFICES PSC
                         E-mail: lubeysoto@gmail.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 2018.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

                   *** End of Transmission ***