/raid1/www/Hosts/bankrupt/TCR_Public/190422.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Monday, April 22, 2019, Vol. 23, No. 111

                            Headlines

1100 STATE STREET: Seeks to Hire Kasen & Kasen as Legal Counsel
152 BROADWAY: Case Summary & 20 Largest Unsecured Creditors
2045 E HIGHLAND: Case Summary & 3 Unsecured Creditors
2745 WEST 16TH STREET: Voluntary Chapter 11 Case Summary
753 NINTH AVE REALTY: Case Summary & 10 Unsecured Creditors

AAC HOLDINGS: $36.7M Q4 Loss Attributable to Common Stockholders
AMBOY GROUP: Acting DOJ Watchdog Seeks Ch. 11 Trustee, Conversion
AMERICAN GREEN: Trustee's $600K Sale of All Assets to Medical OK'd
AMYRIS INC: Foris Purchases Outstanding Loans From GACP Finance
ANITA ROBERTSON-ULLOA: $18K Sale of Jonesborough Property Withdrawn

AYTU BIOSCIENCE: CEO & COO Sign 24-Month Contracts Renewal
BANTRY COMPONENTS: Request for Trustee Appointment Withdrawn
BANTRY COMPONENTS: Taps Van De Water as Legal Counsel
BLACKBOARD TRANSACT: Moody's Assigns Caa1 CFR, Outlook Stable
BLUE BEVERAGE: Case Summary & 20 Largest Unsecured Creditors

BLUE EAGLE FARMING: Court Overrules Objection to Trustee's Claims
BOURDOW CONTRACTING: Taps Warner Norcross as Legal Counsel
BRAZORIA HYDROCARBON: Voluntary Chapter 11 Case Summary
BRISTOW GROUP: Moody's Cuts CFR to Caa3 & Sr. Sec. Rating to Caa2
CAREVIEW COMMUNICATIONS: Signs 4th Amendment to Credit Amendment

CCS ONCOLOGY: PCO Files 7th Report
CHECKERS HOLDINGS: Moody's Cuts CFR to Caa1, Outlook Changed to Neg
CHERRY BROS: Committee Seeks to Hire Polsinelli as Legal Counsel
CLOUD I Q LLC: Case Summary & 15 Unsecured Creditors
CLOUD PEAK: Moody's Assigns Ca-PD/LD on Missed Interest Payment

COCRYSTAL PHARMA: Weinberg & Company Replaces BDO as Accountant
CORT & MEDAS: Taps Shafferman & Feldman LLP as Legal Counsel
CREDIT MANAGEMENT: Taps Brutzkus Gubner as Litigation Counsel
CROWN CAPITAL: DBRS Confirms BB(low) Long Term Issuer Rating
CYTODYN INC: Launches $1.1 Million Direct Offering of Securities

DDC GROUP: April 30 Hearing on Disclosure Statement
DESERT RIBS: Taps Michael W. Carmel as Legal Counsel
DOMINION DIAMOND: Fitch Cuts LT IDR to 'B+', Outlook Negative
DR. SHABNAM QASIM: PCO Files 3rd Report
DUMITRU MEDICAL: Deborah Fish Appointed as Successor PCO

E Z MAILING: Involuntary Chapter 11 Case Summary
ECTOR HOSPITAL: Fitch Affirms BB+ Rating on 2010B Bonds
EIRINI INVESTMENTS: Taps Goodrich Postnikoff as Legal Counsel
ENERGY TRANSFER: Fitch Rates Series E Preferred Equity Units 'BB'
ENERGY TRANSFER: Moody's Rates New Series E Preferred Stock 'Ba2'

ENERGY TRANSFER: S&P Rates Series E Preferred Units 'BB'
EXPEDIA GROUP: Moody's Reviews Ba1 Sr. Unsec. Rating for Upgrade
FRESHSTART HOME: Case Summary & 20 Largest Unsecured Creditors
GFL ENVIRONMENTAL: Moody's Rates New $500MM Unsec. Notes 'Caa2'
GFL ENVIRONMENTAL: S&P Rates New US$500MM Sr. Unsecured Notes CCC+

GLOBAL HEALTHCARE: President Gets $90,000 Bonus in Shares
GLOBALTRANZ ENTERPRISES: Moody's Assigns B3 CFR, Outlook Stable
GNC HOLDINGS: Names Cameron Lawrence as Chief Accounting Officer
GOGO INC: Has Tender Offer for 3.75% Convertible Notes Due 2020
GOGO INC: Prices $905 Million Senior Secured Notes Offering

GORE FREIGHT COMPANY: Hires Ballesteros Gonzalez as Special Counsel
GORE FREIGHT COMPANY: Hires Garza & Morales, L.C. as Accountant
HANOVER INSURANCE: Fitch Affirms BB+ Rating on 2027 Jr. Sub. Debt
HOME BOUND HEALTHCARE: Court Waives Appointment of PCO
IBK PARTNERS: Seeks to Hire Rosen & Kantrow as Legal Counsel

INFORMATION TECHNOLOGY: Sherman Online Auction of Personalty Okayed
INFORMATION TECHNOLOGY: Taps Sherman Hostetter Group as Auctioneer
INSYS THERAPEUTICS: Names Andrew Long as Chief Executive Officer
JLT HOLDINGS: Taps Barry B. Berk as Special Counsel
JONES ENERGY: Fitch Cuts LT IDR to 'D' on Bankruptcy Filing

KENMETAL LLC: Taps Hansen Hunter & Co. as Financial Advisors
KEYSTONE ACQUISITION: S&P Alters Outlook to Neg.,  Affirms 'B' ICR
KHRL GROUP: Taps Cohesive Consulting Group as Consultant
KIA MOTORS: Guerra Alleges Defective 2.0 GDI Engine
KINNECORPS LLC: Case Summary & 20 Largest Unsecured Creditors

KMA TRANSPORT: Directed to File 2nd Amended Chapter 11 Plan
LA CREMAILLERE: Case Summary & 10 Unsecured Creditors
LANDMARK LIFE: A.M. Best Affirms B(Fair) Financial Strength Rating
LEGACY GROUP: Taps William F. McLaughlin as Attorney
LEGEND FARMS: Case Summary & 20 Largest Unsecured Creditors

LEVEL SOLAR: Trustee Seeks Court Approval to Hire Maltz Auctions
LOVESTER'S LLC: Case Summary & 2 Unsecured Creditors
MABVAX THERAPEUTICS: Taps Baker Botts as Special Litigation Counsel
MABVAX THERAPEUTICS: Taps Block & Leviton as Special Counsel
MARKET STREET: Voluntary Chapter 11 Case Summary

MEEKER NORTH: Taps Hansen Hunter as Financial Advisor
MICROVISION INC: Incurs $8.1 Million Net Loss in First Quarter
MICROVISION INC: Signs $11 Million Stock Purchase Agreement
MIDTOWN INVESTMENT: Taps Border Law as Legal Counsel
MOUNTAIN PROVINCE: Fitch Affirms LT IDR at 'B', Outlook Stable

NEONODE INC: Two Board Members to Resign in June
NEOVASC INC: Resolves Last Remaining Active Litigation
NORTH GWINNETT: Taps Jones Lang Lasalle as Real Estate Broker
NYMAN HOLDINGS: Voluntary Chapter 11 Case Summary
PERSPECTA INC: Fitch Affirms 'BB+' LongTerm IDR, Outlook Stable

PHOENIX COLLEGIATE ACADEMY, AZ: S&P Cuts 2012 Bond Rating to 'BB'
PINEY WOODS: Seeks to Hire Benton & Centeno as Legal Counsel
PITNEY BOWES: Moody's Cuts CFR to Ba2 & Alters Outlook to Stable
PRIDE CLEANERS: Seeks to Hire Jones & Walden as Legal Counsel
PRISO ACQUISITION: Moody's Alters Outlook on B2 CFR to Negative

PULMATRIX INC: Empery Reports 9.99% Stake as of April 3
PULMATRIX INC: Kopin et al. Have 9.9% Stake as of April 8
QUEBECOR MEDIA: Moody's Hikes CFR to Ba1 & Sr. Unsec. Notes to Ba2
RIOT BLOCKCHAIN: Citadel et al. Own 4.4% Stake as of April 8
ROC-IT DRYWALL: Taps Michigan Business Advisors as Accountant

SAMURAI MARTIAL: Voluntary Chapter 11 Case Summary
SARATOGA SPRINGS: Case Summary & 12 Unsecured Creditors
SCHULDNER LLC: Taps Robert M. Schuneman as Legal Counsel
SENIOR CARE: PM Mgmt.'s Transfer of Assets to PF Senior Approved
SENIOR CARE: Seeks to Hire Stephen Duck CPA as Accountant

SENIOR NH: Taps Hansen Hunter & Co. as Financial Advisor
SHARON K. BOE: $805K Sale of Seattle Property to JJWC Approved
SILVER STATE HOLDINGS: Case Summary & 13 Unsecured Creditors
SOUTHERN UNIVERSITY: Moody's Withdraws Ba1 Issuer Rating
STOCKTON CITY: Moody's Withdraws Ca on 2007 Pension Obligation Bond

STONEMOR PARTNERS: Names Garry Herdler as Chief Financial Officer
TWIN RIVER: S&P Affirms 'BB-' ICR Despite Leveraging Distribution
UNITED BUSINESS: Involuntary Chapter 11 Case Summary
UNIVERSITY PHYSICIAN: Directed to File 2nd Amended Plan
US SILICA: Moody's Alters Outlook on B1 CFR to Negative

USINA DE ACUCAR: Chapter 15 Case Summary
VIZIENT INC: Moody's Rates New $300MM Sr. Unsecured Notes 'B3'
VIZIENT INC: S&P Rates $300MM Unsecured Notes 'B'
WEI SALES: Moody's Assigns 'Ba3' CFR, Outlook Negative
WESTERN ILLINOIS UNIVERSITY: S&P Upgrades Debt Rating to 'BB'

[^] BOND PRICING: For the Week from April 15 to 19, 2019

                            *********

1100 STATE STREET: Seeks to Hire Kasen & Kasen as Legal Counsel
---------------------------------------------------------------
1100 State Street, LLC, seeks approval from the U.S. Bankruptcy
Court for the District of New Jersey to hire Kasen & Kasen, P.C. as
its legal counsel.

The firm will advise the Debtor of its power and duties under the
Bankruptcy Code and will provide other legal services in connection
with its Chapter 11 case.

The firm's hourly rates are:

              David Kasen     $500
              Jenny Kasen     $350

Kasen & Kasen will be paid a $20,000 retainer through a capital
contribution by the Debtor's principal Tyrone Pitts.

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

The firm can be reached through:

     Jenny R. Kasen, Esq.
     Kasen & Kasen, P.C.    
     Society Hill Office Park
     1874 E. Marlton Pike, Suite 3
     Cherry Hill, NJ 08003
     Telephone: (856) 424-4144
     Fax: (856) 424-7565
     Email: jkasen@kasenlaw.com

                    About 1100 State Street

1100 State Street, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.N.J. Case No. 19-15567) on March 19,
2019.  The case is assigned to Judge Andrew B. Altenburg Jr.  Kasen
& Kasen, P.C., is the Debtor's counsel.



152 BROADWAY: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: 152 Broadway Haverstraw NY LLC
        159 Broadway
        Haverstraw, NY 10927

Business Description: 152 Broadway Haverstraw is the fee simple
                      owner of warehouse and office buildings at
                      152 Broadway, Haverstraw, NY, having an
                      appraised value of $11 million.

Chapter 11 Petition Date: April 19, 2019

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

Case No.: 19-22834

Judge: Hon. Robert D. Drain

Debtor's Counsel: Mark A. Frankel, Esq.
                  BACKENROTH FRANKEL & KRINSKY, LLP
                  800 Third Avenue, 11th Floor
                  New York, NY 10022
                  Tel: (212) 593-1100
                  Fax: (212) 644-0544
                  E-mail: mfrankel@bfklaw.com

Total Assets: $11,000,269

Total Liabilities: $27,892,967

The petition was signed by Joseph Goldberger of Blue Beverage Group
Inc., the Debtor's sole member.

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

            http://bankrupt.com/misc/nysb19-22834.pdf

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
1. Alan Feinsilber, CPA                                   $41,767
11 Deerhill Ln
Scarsdale, NY 10583

2. Barry R. Feerst and Assoc                              $58,000
194 S 8Th St
Brooklyn, NY 11211

3. Be'er Yitzchak                                         $50,000
c/o Sender Fleischmann
119 Rutledge St
Brooklyn, NY 11211

4. Broadway Equity Holding           Warehouse &         $520,858
c/o Robinson Brog et al.          Office Buildings
875 3rd Ave
New York, NY 10022

5. Carlo Minuto                                          $35,239
Carting Company
20 Snake Hill Rd,
West Nyack, NY 10994

6. Corner Hardware                                      $170,000
2266 Nostrand Ave
Brooklyn, NY 11210

7. Del Forte USA                                        $500,000
c/o Goetz Fitzpatrick
One Penn Plaza, Suite 3100
New York, NY 10019

8. European Builders                                    $450,000
119 Lorimer St
Brooklyn, NY 11206

9. Gottliebs Insurance                                  $161,950
66 Route 59 200
Monsey, NY 10952

10. Jacob Gross                                         $180,000
6 Juliana Place
Brooklyn, NY 11249

11. Jeno Gutman                                       $4,370,097
479 Bedford Ave
Brooklyn, NY 11211

12. Joint Regional                                      $233,941
Sewage Board
20 Ecology Rd
West Haverstraw,
NY 10993

13. Jonothan Steiff, CPA                                 $43,550
6 Melnick Dr.
Monsey, NY 10952

14. Kevin McBride                                       $142,974
741 Honey Farm Rd
Lititz, PA 17543

15. MFT                                               $1,765,500
1667 Bedford Ave
Brooklyn, NY 11211

16. Moshe Follman                                       $100,310
c/o Leeds Brown Law P.C.
One Old Country Rd
Carle Place, NY 11514

17. Ryvkie Goldberger                                 $6,098,000
479 Bedford Ave
Brooklyn, NY 11219

18. Thruway Consulting LLC                               $55,300
7 Patricia Ln,
Spring Valley, NY 10977

19. Toby Weinberger                                   $1,615,950
669 Bedford Ave
Brooklyn, NY 11211

20. United Water aka                                     $51,274
Suez Water
461 From Road
Paramus, NJ 07652


2045 E HIGHLAND: Case Summary & 3 Unsecured Creditors
-----------------------------------------------------
Debtor: 2045 E Highland, LLC
           dba Camino Capistrano Tires & Brake
        32201 Camino Capistrano
        San Juan Capistrano, CA 92675

Business Description: 2045 E Highland, LLC owns a tire and auto
                      service shop in San Juan Capistrano,
                      California.

Chapter 11 Petition Date: April 19, 2019

Court: United States Bankruptcy Court
       Central District of California (Santa Ana)

Case No.: 19-11458

Judge: Hon. Theodor Albert

Debtor's Counsel: Thomas B. Ure, Esq.
                  URE LAW FIRM
                  800 West 6th Street, Suite 940
                  Los Angeles, CA 90017
                  Tel: 213-202-6070
                  Fax: 213-202-6075
                  E-mail: tbuesq@aol.com
                          tom@urelawfirm.com

Total Assets: $1,747,600

Total Liabilities: $3,367,198

The petition was signed by Javier Salas, president.

A full-text copy of the petition containing, among other items, a
list of the Debtor's three unsecured creditors is available for
free at:

          http://bankrupt.com/misc/cacb19-11458.pdf


2745 WEST 16TH STREET: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: 2745 West 16th Street, LLC
        2745 West 16th Street
        Brooklyn, NY 11224

Business Description: 2745 West 16th Street, LLC is a Single
                      Asset Real Estate Debtor (as defined in
                      11 U.S.C. Section 101(51B)).  Founded in
                      2010, the Company owns a property consisting
                      of two residential units and three
                      commercial units.  It previously sought
                      bankruptcy protection on Aug. 18, 2018
                     (Bankr. E.D.N.Y., Case No. 18-44708).

Chapter 11 Petition Date: April 18, 2019

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Case No.: 19-42321

Judge: Hon. Elizabeth S. Stong

Debtor's Counsel: Joshua Bronstein, Esq.
                  LAW OFFICES OF JOSHUA BRONSTEIN
                  114 Sound View Drive
                  Port Washington, NY 11050
                  Tel: 516-698-0202
                  E-mail: jbronsteinlaw@gmail.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

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

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

            http://bankrupt.com/misc/nyeb19-42321.pdf


753 NINTH AVE REALTY: Case Summary & 10 Unsecured Creditors
-----------------------------------------------------------
Debtor: 753 Ninth Ave Realty, LLC
        1461 First Avenue, Suite 213
        New York, NY 10075

Business Description: 753 Ninth Ave Realty is a Single Asset Real
                      Estate Debtor (as defined in 11 U.S.C.
                      Section 101(51B)).  Its principal assets
                      are located at 753 Ninth Avenue New York, NY

                      10019 having an appraised value of $13.5
                      million.

Chapter 11 Petition Date: April 18, 2019

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

Case No.: 19-11201

Judge: Hon. Mary Kay Vyskocil

Debtor's Counsel: Bonnie Lynn Pollack, Esq.
                  CULLEN AND DYKMAN, LLP
                  100 Quentin Roosevelt Boulevard
                  Garden City, NY 11530
                  Tel: (516) 296-9143
                  Fax: (516) 357-3792
                  Email: bpollack@cullenanddykman.com

                    - and -

                  Matthew G. Roseman, Esq.
                  CULLEN AND DYKMAN, LLP
                  100 Quentin Roosevelt Boulevard
                  Garden City, NY 11530-4850
                  Tel: (516) 296-9106
                  Fax: (516) 357-3792
                  Email: mroseman@cullenanddykman.com

Total Assets: $13,500,499

Total Liabilities: $16,367,400

The petition was signed by Marina Koustis, manager of sole member.

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

            http://bankrupt.com/misc/nysb19-11201.pdf

List of Debtor's 10 Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
1. AAA Five Star Construction        Repairs and           $6,000
330 Ocean Parkway                    Maintenance
Brooklyn, NY 11218

2. Con Edison Cooper Station         Utility Bill            $119
P.O. Box 138
New York, NY 10276

3. Drain Kleen                       Repairs and             $700
1021 E. Gun Hill Road                Maintenance
Bronx, NY 10469

4. EZ Restoration                    Repairs and           $1,500
8411 Liberty Avenue                  Maintenance
North Bergen, NJ 07047

5. Kishner Miller Himes P.C.         Legal Fees           $32,839
Attn: Ryan Miller, Esq.
420 Lexington Ave., Suite 300
New York, NY 10170
  
6. Macfelder Plumbing               Repairs and              $898
610 11th Avenue                     Maintenance
New York, NY 10036

7. Miguel Rios                      Repairs and            $1,000
724 10th Avenue                     Maintenance
New York, NY 10019

8. NYC Water Board                  Utility Bill          $54,752
P.O. Box 11863
Newark, NJ 07101

9. Roto Rooter Services Co.         Repairs and            $5,832
5672 Collections Center Dr.         Maintenance
Chicago, IL 60693

10. Sky Locksmith                      Trade               $1,500
1574 First Avenue
New York, NY 10028


AAC HOLDINGS: $36.7M Q4 Loss Attributable to Common Stockholders
----------------------------------------------------------------
AAC Holdings, Inc., reported financial results for the fourth
quarter and year ended Dec. 31, 2018, as well as 2019 guidance.

Fourth Quarter 2018 Operational and Financial Highlights:

   * Total inpatient daily census improved by 26% at March 31,
     2019 compared to Dec. 31, 2018

   * Total revenue decreased 26.6% to $57.4 million on a
     comparable accounting basis (total revenue decreased 33.3%
     on an as reported basis)

   * Net loss attributable to AAC Holdings, Inc. common
     stockholders was $36.7 million, or $(1.52) per diluted
     common share

   * Adjusted EBITDA was $(12.4) million

   * Adjusted loss per diluted common share was $(0.85)

   * New admissions increased 39% to 4,184 a (increase related to
     the acquisition of AdCare on March 1, 2018)

   * Total average daily census (ADC) was 1,002 compared to 995
    (increase related to the acquisition of AdCare on March 1,
     2018)

   * Outpatient visits increased 104% to 44,165 (increase
     primarily related to the acquisition of AdCare on March 1,
     2018)

   * Implemented over $30 million in annualized expense
     reductions to benefit 2019 operating margins

   * Closed a $30 million incremental term loan with existing
     lenders to provide additional liquidity

"The last several months of 2018 saw a census decline that was more
significant than we originally anticipated, with an initial 30%
drop in call volume resulting in a sharp decrease in admissions in
the second half of 2018 which resulted in a corresponding decrease
in revenue," said Michael Cartwright, chairman and chief executive
officer of AAC Holdings, Inc. "However, admissions have begun to
improve in early 2019, with average admissions per day up by more
than 25% for March 2019 compared to December 2018.  The initiatives
in sales and marketing we launched last year and continue to
implement into 2019 are showing results and we continue to enhance
our online outreach resources to better help those who need our
help."

"We also acted quickly to improve liquidity and reduce operating
expenses.  We recently announced the closing of a $30 million
incremental term loan that provides us with additional liquidity
moving into 2019.  We have also commenced a process to explore ways
to generate additional value from our attractive treatment center
real estate portfolio in order to improve our balance sheet.
Finally, we continue to be focused on cost reduction initiatives.
The expense savings initiatives implemented in late 2018 and in the
first quarter of 2019, are expected to total over $30 million in
annualized savings."

"Despite the challenges we faced last year, we've started this year
with positive momentum and I'm confident that we will see continued
improvement throughout 2019.  We believe we have the right things
to help us get there – significant cost savings initiatives,
options with our real estate portfolio, new processes in place
within our sales and marketing team, and most of all our continued
commitment to excellent clinical care."

        Evaluation of Strategic Alternatives in AAC's
                  Real Estate Portfolio

The Company has commenced a process to explore strategic
alternatives to generate additional value from its real estate
portfolio consisting of treatment centers located across the United
States.  Management's goal is to leverage the portfolio to create
additional liquidity, lower its cost of capital and enhance
shareholder value.  Real estate strategic alternatives could
include further sale leasebacks of individual facilities or larger
portions of the Company's real estate portfolio.

                    Cost Savings Initiatives

The Company enacted a series of cost savings initiatives during the
fourth quarter for 2018 and into the first quarter of 2019 which
are expected to result in over $30 million of annualized cost
savings.  These initiatives have included reductions in the
Company's corporate expenses, consolidation of its Las Vegas
market, consolidation of the its southern California market, the
sale of the Company's New Orleans operations, and the consolidation
of its lab operations.

Incremental Term Loan and Amendment of Existing Credit Facility

In March 2019, the Company closed a $30 million incremental term
loan with its existing lenders.  In addition, the Company amended
its existing secured credit facility to, among other items, provide
increased flexibility with respect to certain financial covenants.

                        Restatement

On March 29, 2019, the Company, the Audit Committee of the
Company's Board of Directors and executive management, in
consultation with the Company's independent registered public
accounting firm, BDO USA, LLP, determined that adjustments to
certain of its previously issued annual and interim financial
statements were necessary, and that those annual and interim
financial statements could no longer be relied upon.  The
adjustments related to estimates of accounts receivable, provision
for doubtful accounts and revenue for the relevant periods, as well
as the related income tax effects.  Certain other immaterial
reclassifications within the financial statements are also
reflected in the adjustments.  The restatements do not implicate
misconduct with respect to the Company, its management or its
employees.

The Company's previously issued annual financial statements are
included in the Company's Annual Report on Form 10-K for the years
ended Dec. 31, 2017 and 2016 and the unaudited financial statements
and included in the Company's quarterly reports on Form 10-Q for
the quarters ended Sept. 30, 2018 and 2017, June 30, 2018 and 2017,
and March 31, 2018 and 2017, have been restated in the Company's
2018 Annual Report on Form 10-K for the year ended Dec. 31, 2018 to
properly reflect these corrections.

The adjustments do not relate to the change in estimate that the
Company made during the three months ended Sept. 30, 2018 and
effective as of July 1, 2018, regarding its estimate of the
collectability of accounts receivable, specifically relating to
accounts where the Company has received a partial payment from a
commercial insurance company, and the Company continues to pursue
additional collections for the balance that it estimates remains
outstanding or "partial payment accounts receivable".

                       AdCare Acquisition

On March 1, 2018, AAC acquired AdCare, Inc. and its subsidiaries.
AdCare offers treatment for drug and alcohol addiction and
includes, among other things, a 114-bed hospital and 5 outpatient
centers in Massachusetts, as well as a 59-bed residential inpatient
treatment center and 2 outpatient centers in Rhode Island.  AdCare
was purchased for total consideration of $85.0 million, subject to
adjustments.

               Fourth Quarter 2018 Financial Results

AAC breaks down its revenues between client related revenue and
non-client related revenue.  Client related revenue includes: (1)
inpatient treatment facility services and related professional
services; (2) outpatient facility services, related professional
services and sober living services; and (3) client related
diagnostic services, which includes point of care drug testing and
client related diagnostic laboratory services.  Non-client related
revenue includes marketing and diagnostic services provided to
third parties as well as addiction services provided to individuals
in the criminal justice system.

Inpatient treatment facility revenue, on a comparable accounting
basis, decreased 29.5% to $47.1 million compared with $66.8 million
in the same period in the prior year.  ADR decreased 31.1% to $688
compared with $999 in the same period in the prior year.

Outpatient and sober living facility revenue, on a comparable
accounting basis, decreased 34.9% to $5.6 million compared with
$8.7 million in the same period in the prior year.  Average revenue
per outpatient visit (ARV) decreased 69.6% to $127 compared with
$418 in the same period in the prior year.
Client related diagnostic services revenue, on a comparable
accounting basis, increased 607.4% to $2.4 million compared with
$0.3 million in the same period in the prior year.

Non-client related revenue, on a comparable accounting basis,
decreased 7.2% to $2.3 million compared with $2.5 million in the
same period in the prior year.

Net loss attributable to AAC Holdings, Inc. common stockholders was
$36.7 million, or $(1.52) per diluted common share, compared with
$16.1 million, or $(0.69) per diluted common share, in the
prior-year period.

Adjusted EBITDA decreased to $(12.4) million compared with $18.3
million for the same period in the prior year.  Adjusted net loss
attributable to AAC Holdings, Inc. common stockholders decreased to
$20.7 million, or $(0.85) per diluted common share, compared with
adjusted net income of $9.4 million, or $0.40 per diluted common
share, for the same period in the prior year.  Adjusted EBITDA,
adjusted net income attributable to AAC Holdings, Inc. common
stockholders and adjusted earnings per diluted common share are
non-GAAP financial measures.

               Full Year 2018 Financial Results

Total revenue on a comparable accounting basis (i.e., less the
provision for doubtful accounts) increased 1.4% to $295.8 million
compared with $291.7 million in the same period in the prior year.
Total revenue as reported decreased 6.9% to $295.8 million compared
with $317.6 million in the prior year.

Inpatient treatment facility revenue, on a comparable accounting
basis, increased 2.2% to $235.5 million compared with $230.5
million in the same period in the prior year.  ADR decreased 2.2%
to $800 compared with $818 in the same period in the prior year.
Outpatient and sober living facility revenue, on a comparable
accounting basis, increased 19.8% to $34.4 million compared with
$28.7 million in the same period in the prior year.  ARV decreased
50.9% to $198 compared with $403 in the same period in the prior
year.

Client related diagnostic services revenue, on a comparable
accounting basis, decreased 37.7% to $14.6 million compared with
$23.4 million in the same period in the prior year.

Non-client related revenue, on a comparable accounting basis,
increased 23.5% to $11.2 million compared with $9.1 million in the
same period in the prior year.

Net loss attributable to AAC Holdings, Inc. common stockholders was
$59.4 million, or $(2.47) per diluted common share, compared with
$12.9 million, or $(0.55) per diluted common share, in the
prior-year period.

Adjusted EBITDA decreased 65.1% to $23.7 million compared with
$67.9 million for the same period in the prior year.  Adjusted net
loss attributable to AAC Holdings, Inc. common stockholders
decreased to $25.6 million, or $(1.06) per diluted common share,
compared with adjusted net income of $27.0 million, or $1.16 per
diluted common share, for the same period in the prior year.

Adjusted EBITDA, adjusted net income attributable to AAC Holdings,
Inc. common stockholders and adjusted earnings per diluted common
share are non-GAAP financial measures.

                    Balance Sheet and Cash Flows

As of Dec. 31, 2018, AAC Holdings' balance sheet reflected cash and
cash equivalents of $5.4 million, net property and equipment of
$166.9 million and total debt of $319.2 million (current and
long-term portions).  In March 2019, the Company closed on a $30
million incremental term loan that provides the company with
additional liquidity moving into 2019.

Cash flows used in operations totaled $9.1 million and maintenance
capital expenditures totaled $0.6 million for the fourth quarter of
2018.

2019 Outlook

The Company expects diluted weighted-average common shares
outstanding of approximately 25.0 million for the year.

The outlook above does not include the impact of any future
acquisitions, transaction-related costs, litigation settlement or
expenses related to legal defenses.

                       About AAC Holdings

Headquartered in Brentwood, Tennessee, AAC Holdings, Inc. --
http://www.americanaddictioncenters.com/-- is a provider of
inpatient and outpatient substance use treatment services for
individuals with drug addiction, alcohol addiction and co-occurring
mental/behavioral health issues.  In connection with its treatment
services, the Company performs clinical diagnostic laboratory
services and provide physician services to its clients.  As of Dec.
31, 2018, the Company operated 11 inpatient substance abuse
treatment facilities located throughout the United States, focused
on delivering effective clinical care and treatment solutions
across 1,080 inpatient beds, including 700 licensed detoxification
beds, 24 standalone outpatient centers and 4 sober living
facilities across 471 beds for a total of 1,551 combined inpatient
and sober living beds.

AAC Holdings reported a net loss of $66.71 million for the year
ended Dec. 31, 2018, compared to a net loss of $17.38 million for
the year ended Dec. 31, 2017.  As of Dec. 31, 2018, AAC Holdings
had $452.27 million in total assets, $410 million in total
liabilities, and total stockholders' equity including
non-controlling interest of $42.27 million.

BDO USA, LLP, in Nashville, Tennessee, the Company's auditor since
2011, issued a "going concern" qualification in its report dated
April 12, 2019, on the Company's consolidated financial statements
for the year ended Dec. 31, 2018, citing that the Company has
incurred a loss from operations and negative cash flows from
operations that raise substantial doubt about its ability to
continue as a going concern.

                            *   *   *

As reported by the TCR, S&P Global Ratings on March 15 announced
that it lowered the issuer credit rating on AAC Holdings Inc. to
'CCC' from 'B-' and said the outlook is negative.  According to
S&P, the downgrade reflects escalated risk of a default and risk
that AAC's liquidity will not be sufficient over the next 12
months, primarily due to the $30 million term loan maturing in
about one year.

Moody's Investors Service downgraded the corporate family rating
rating of AAC Holdings, Inc., parent company of American Addiction
Centers, Inc., to 'Caa2' from 'B3'.  The downgrade to Caa2 reflects
AAC's very weak third quarter results and lower guidance for the
rest of 2018, as reported by the TCR on Nov. 16, 2018.


AMBOY GROUP: Acting DOJ Watchdog Seeks Ch. 11 Trustee, Conversion
-----------------------------------------------------------------
Andrew R. Vara, the Acting United States Trustee for Region 3,
asked the U.S. Bankruptcy Court for the District of New Jersey to
enter an order directing the appointment of a Chapter 11 trustee
for Amboy Group, Inc., et al. or, in the alternative, converting
the cases to Chapter 7.

Further, the Acting U.S. Trustee asked the Court to disqualify the
law firm of McManimon Scotland & Baumann, LLC as counsel to the
Debtors.

           About Amboy Group

Amboy Group LLC, d/b/a Tommy Moloney's, d/b/a Agnelli's Gourmet,
d/b/a Amboy Cold Storage, is a provider of food products and
temperature controlled warehouses.  Its food processing and cold
storage facility serves as a manufacturer/distributor of authentic
Irish and Italian meat products in America.  Amboy Group's facility
is USDA, FDA and SQF 2000 certified.

CLU Amboy, LLC, is the fee simple owner of a real property located
at 1 Amboy Avenue Woodbridge, NJ 07095 with an appraised value of
$13 million. CLU Amboy reported gross revenue of $624,444 in 2016
and gross revenue of $644,066 in 2015.

Amboy Group holds a 51% interest in an American entity known as
Parmacotta-Amboy NA, LLC, that distributes Italian meats. The
remaining 49% is owned by an American entity known as Parmacotto
America. Parmacotto America is owned by Paramcotto sPa. Parmacotto
sPa has been subject to insolvency proceedings in Italy for
approximately two and half years, during which time, no revenue has
flowed from Parmacotto sPa to Amboy Group.  Amboy Group's gross
revenue amounted to $10.01 million in 2016 and $6.26 million in
2015.

Amboy Group LLC and its affiliate CLU Amboy filed Chapter 11
petitions (Bankr. D.N.J. Case Nos. 17-31653 and 17-31647) on Oct.
25, 2017.  At the time of filing, the Amboy Group reported $1.48
million in assets and $7.11 million in liabilities, while CLU Amboy
reported $13.34 million in assets and $10.78 million in
liabilities.

The Hon. Christine M. Gravelle oversees the case.

The Debtors tapped Anthony Sodono, III, Esq., and Sari Blair
Placona, Esq., of Trenk, DiPasquale, Della Fera & Sodono, P.C., as
bankruptcy counsel, substituted by McManimon Scotland & Baumann,
LLP. The Debtors hired Reitler Kailas & Rosenblatt LLC as special
counsel, and Thomas A. Ferro, P.C., as their accountant. The
Debtors also tapped Sout Risius Ross Advisors, LLC, and its
affiliate Stout Risius Ross, LLC, as financial advisor and
investment banker.

On May 24, 2018, the Court appointed Auction Advisors as the
Debtors' auctioneer.


AMERICAN GREEN: Trustee's $600K Sale of All Assets to Medical OK'd
------------------------------------------------------------------
Judge Jeff Bohm of the U.S. Bankruptcy Court for the Southern
District of Texas authorized William R. Greendyke, the Chapter 11
Trustee of American Green Technology, to sell substantially all
assets to Medical Illumination International, Inc. for $600,000.

The sale is free and clear of all Encumbrances.

The Purchaser's offer for the Purchased Assets, as embodied in the
APA, is the highest or otherwise best offer for the Purchased
Assets.  The APA and the terms and conditions thereof are
approved.

The Purchaser has not sought the assumption and assignment of any
of the Debtor's unexpired executory contracts and leases.  All
unexpired executory contracts and leases of the Debtor are rejected
as of the date of the Order.

The Purchaser will pay in the ordinary course of business the
actual costs and attorney's fees of Matthews, Lawson, McCutcheon &
Joseph, PLLC incurred by the Seller in connection with documenting
the transfer and assignment of certain Assigned Intellectual
Property to the Seller that was not completed prior to the petition
date in order to enable the Seller to sell, transfer and assign the
Assigned Intellectual Property to Purchaser pursuant to the terms
of the APA.  The Purchase Price in Section 1.3(a) of the APA and
the value allocated to he Assigned Intellectual Property in
Schedule 1.3(c) to the APA are each reduced by $12,000 on account
of the Purchaser's payments due as described.

The gross cash Purchase Price will be held by the Trustee in an
IOLTA trust account pending further order of the Court.  Any
Encumbrances upon the Purchased Assets will attach to the Proceeds
as provided.

Pursuant to Bankruptcy Rules 4001, 6004(h), 6006(d), 7062, and
9014, the Order will be effective immediately upon its entry, and
the Trustee and the Purchaser are authorized to close the Sale
immediately, and the Trustee will file a notice of the Sale closing
on the Court's docket within two business days thereafter.

A copy of the APA attached to the Order is available for free at:

    http://bankrupt.com/misc/American_Green_119_Order.pdf

                About American Green Technology

American Green Technology Inc., also known as American Green
Technology TM, is a manufacturer of lighting products for the heavy
industry and healthcare sector.  It is headquartered in South Bend,
Indiana.

On Aug. 28, 2018, AirGuide Mfg. MS, LLC, Lai Family Investments,
Inc., and Dave Peterson, as petitioning creditors, filed an
involuntary Chapter 11 petition (Bankr. Bankr. S.D. Tex. Case No.
18-34728) against the Debtor.  The petitioning creditors are
represented by Deirdre Carey Brown, Esq., an attorney based in
Houston, Texas.

On Dec. 20, 2019, the court approved the appointment of William R.
Greendyke as Chapter 11 trustee.  The Trustee tapped Norton Rose
Fulbright U.S. LLP as his legal counsel, and Claro Group, LLC, as
financial advisor.


AMYRIS INC: Foris Purchases Outstanding Loans From GACP Finance
---------------------------------------------------------------
Amyris, Inc. and certain of its subsidiaries previously entered
into a Loan and Security Agreement (LSA) on June 29, 2018, as
amended, with GACP Finance Co., LLC, as administrative agent and
lender.  

On April 15, 2019, the Company, GACP and Foris Ventures, LLC, an
entity affiliated with director John Doerr of Kleiner Perkins
Caufield & Byers, a current stockholder, and an owner of greater
than five percent of the Company's outstanding common stock,
entered into a Loan Purchase Agreement (LPA).  Pursuant to the LPA,
Foris agreed to purchase the outstanding loans under the LSA and
all documents and assets related thereto from GACP.  In connection
with such purchase, the Company agreed to repay Foris $2.5 million
of the purchase price paid by Foris to GACP pursuant to the LPA.

                        About Amyris, Inc.

Amyris, Inc., Emeryville, California, is an industrial
biotechnology company that applies its technology platform to
engineer, manufacture and sell natural, sustainably sourced
products into the health & wellness, clean skincare, and flavors &
fragrances markets.  The Company's proven technology platform
enables it to rapidly engineer microbes and use them as catalysts
to metabolize renewable, plant-sourced sugars into large volume,
high-value ingredients.  The Company's biotechnology platform and
industrial fermentation process replace existing complex and
expensive manufacturing processes.  The Company has successfully
used its technology to develop and produce five distinct molecules
at commercial volumes.

The report from the Company's independent accounting firm KPMG LLP,
the Company's auditor since 2017, on the consolidated financial
statements for the year ended Dec. 31, 2017, includes an
explanatory paragraph stating that the Company has suffered
recurring losses from operations and has current debt service
requirements that raise substantial doubt about its ability to
continue as a going concern.

Amyris incurred net losses of $72.32 million in 2017, $97.33
million in 2016, and $217.95 million in 2016.  As of Sept. 30,
2018, Amyris had $122.7 million in total assets, $323.3 million in
total liabilities, $5 million in contingently redeemable common
stock, and a total stockholders' deficit of $205.6 million.

Amyris had filed a Notification of Late Filing on Form 12b-25 with
respect to its Annual Report on Form 10-K for its fiscal year ended
Dec. 31, 2018.  Amyris said it was unable to file its Annual Report
within the prescribed time period without unreasonable effort and
expense because of the significant time and resources that were
devoted to the accounting for and disclosure of the significant
transactions with Koninklijke DSM N.V. that closed in November
2018.  The Company is also in the process of completing its
evaluation of internal control over financial reporting for 2018
and finalizing related disclosures in the Form 10-K.  These
activities delayed the completion of the Form 10-K.


ANITA ROBERTSON-ULLOA: $18K Sale of Jonesborough Property Withdrawn
-------------------------------------------------------------------
Judge Marcia Phillips Parsons of the U.S. Bankruptcy Court for the
Eastern District of Tennessee denied as withdrawn the sale by Anita
L. Robertson-Ulloa, doing business as Appalachian StoneWorks, of
the unimproved real property located at 397 Kinchloe Mill Road,
Jonesborough, Tennessee to Jeff and Kim Hutchins for $18,000.

The Chapter 11 case is In re Anita L. Robertson-Ulloa (Bankr. E.D.
Tenn. Case No: 14-50495).



AYTU BIOSCIENCE: CEO & COO Sign 24-Month Contracts Renewal
----------------------------------------------------------
The board of directors of Aytu BioScience, Inc., upon the
recommendation of the Company's compensation committee, agreed to
renew the employment agreements of Joshua R. Disbrow (chief
executive officer), and Jarrett T. Disbrow (chief operating
officer).  The material terms of the employment agreements are as
follows.

Joshua R. Disbrow Employment Agreement

Pursuant to the terms of Joshua R. Disbrow's employment agreement,
the Company agreed to the following compensation package:

   * an annual base salary of $330,000 per annum, which will be
     reviewed at the end of each fiscal year of the Company;

   * restricted stock or options to be granted on or promptly
     after Aug. 1, 2019 as determined by the Committee at that
     time; and

   * an annual discretionary bonus with a target amount of 125%
     of Mr. Disbrow's base salary.

The term of the CEO Employment Agreement is 24 months beginning on
the Effective Date.  The CEO Term will end immediately upon the
occurrence of certain events.  The Company can terminate Mr.
Disbrow's employment with or without cause or as a result of
disability.  Mr. Disbrow can terminate his employment with the
Company without good reason.

Jarrett T. Disbrow Employment Agreement

Pursuant to the terms of Jarrett T. Disbrow's employment agreement,
the Company agreed to the following compensation package:

   * an annual base salary of $250,000 per annum, which will be
     reviewed at the end of each fiscal year of the Company;

   * restricted stock or options to be granted on or promptly
     after Aug. 1, 2019 as determined by the Committee at that
     time; and

   * an annual discretionary bonus with a target amount of 125%
     of Mr. Disbrow's base salary.

The term of the COO Employment Agreement is 24 month beginning on
the Effective Date.  The COO Term will end immediately upon the
occurrence of certain events.  The Company can terminate Mr.
Disbrow's employment with or without cause or as a result of
disability.  Mr. Disbrow can terminate his employment with the
Company without good reason.

Effective April 15, 2019, the Board appointed Steven J. Boyd, age
38, to the Board to fill one of the two vacancies on the Board.
Since July 2012 Mr. Boyd has served as the chief investment officer
of Armistice Capital, LLC, the investment manager of Armistice
Capital Master Fund Ltd., a hedge fund focused on health care and
consumer sectors based in New York City.  Mr. Boyd founded
Armistice Capital, LLC in 2012.  Prior to founding Armistice, Mr.
Boyd was a senior research analyst at Senator Investment Group, an
associate at York Capital, an analyst at SAB Capital Management and
an analyst at McKinsey & Company.  Mr. Boyd is a graduate of the
University of Pennsylvania, with degrees in economics and political
science.  He serves on the boards of directors of each of Cerecor,
Inc. and EyeGate Pharmaceuticals, Inc.  The Board believes that Mr.
Boyd's experience in the capital markets and strategic
transactions, and his focus on the healthcare industry makes him a
valuable member of the Board. Mr. Boyd has elected to not receive
any compensation for his Board service.  At the time of his
appointment it has not been determined which Board committees Mr.
Boyd will serve on.

Effective April 15, 2019, Mr. Gary Cantrell resigned from the
Company's Audit Committee and as chairman of the Compensation
Committee.  Mr. Cantrell will remain a member of the Compensation
Committee.  In addition, effective April 15, 2019, the Board
appointed Mr. Michael Macaluso to the Company's Audit Committee and
the Compensation Committee and appointed Mr. Macaluso as Chairman
of the Compensation Committee.

                     About Aytu BioScience

Englewood, Colorado-based Aytu BioScience, Inc. (OTCMKTS:AYTU) --
http://www.aytubio.com/-- is a commercial-stage specialty
pharmaceutical company focused on global commercialization of novel
products addressing significant medical needs.  The company
currently markets Natesto, the only FDA-approved nasal formulation
of testosterone for men with hypogonadism, ZolpiMist, an
FDA-approved, commercial-stage prescription sleep aid indicated for
the short-term treatment of insomnia characterized by difficulties
with sleep initiation, and recently acquired Tuzistra XR, the only
FDA-approved 12-hour codeine-based antitussive oral suspension.
Additionally, Aytu is developing MiOXSYS, a novel, rapid semen
analysis system with the potential to become a standard of care for
the diagnosis and management of male infertility caused by
oxidative stress.  MiOXSYS is commercialized outside of the U.S.
where it is a CE Marked, Health Canada cleared, Australian TGA
approved, Mexican COFEPRAS approved product, and Aytu is planning
U.S.-based clinical trials in pursuit of 510k de novo medical
device clearance by the FDA. Aytu's strategy is to continue
building its portfolio of revenue-generating products, leveraging
its focused commercial team and expertise to build leading brands
within large, growing markets.

Aytu Bioscience reported a net loss of $10.18 million for the year
ended June 30, 2018, compared to a net loss of $22.50 million for
the year ended June 30, 2017.  As of Dec. 31, 2018, Aytu Bioscience
had $42.39 million in total assets, $22.50 million in total
liabilities, and $19.89 million in total stockholders' equity.

EKS&H LLLP, in Denver, Colorado, the Company's auditor since 2015,
issued a "going concern" qualification in its report on the
consolidated financial statements for the year ended June 30, 2018,
citing that the Company has suffered recurring losses from
operations and has an accumulated deficit that raise substantial
doubt about its ability to continue as a going concern.


BANTRY COMPONENTS: Request for Trustee Appointment Withdrawn
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Hampshire issued
an Order, dated April 15, 2019, withdrawing the motion to appoint a
Chapter 11 trustee for Bantry Components, Inc.

Riedon, Inc., an unsecured creditor of the Debtor, filed the motion
to appoint a Chapter 11 trustee for the Debtor, dated March 8,
2019.

        About Bantry Components

Founded in 1970, Bantry Components, Inc. is a woman-owned business
specializing in the manufacture of wirewound resistors and related
products. The Company designs, manufactures, and sells its
resistors to commercial and industrial markets.

Riedon, Inc. filed the Chapter 11 petition (Bankr. D. N.H. Case No.
19 10061) of Bantry Components, Inc. on January 16, 2019, and is
represented by William S. Gannon, Esq., in  Manchester, New
Hampshire.


BANTRY COMPONENTS: Taps Van De Water as Legal Counsel
-----------------------------------------------------
Bantry Components, Inc., received approval from the U.S. Bankruptcy
Court for the District of New Hampshire to hire Van De Water Law
Offices, PLLC as its legal counsel.

The firm will assist the Debtor in the preparation of a plan of
reorganization and will provide other legal services in connection
with its Chapter 11 case.

Marc Van De Water, Esq., the firm's attorney who will be hanlding
the case, will charge an hourly fee of $350.

Mr. Van De Water disclosed in court filings that he is
"disinterested" as defined in Section 101(14) of the Bankruptcy
Code.

Van De Water Law Offices can be reached through:

     Marc L. Van De Water, Esq.       
     Van De Water Law Offices, PLLC       
     44 Albin Road       
     Bow, New Hampshire 03304       
     Phone: (603) 647-5444       
     Fax: (603) 624-7766       
     Email: Marc@vlawusa.com  

                      About Bantry Components

Founded in 1970, Bantry Components, Inc., manufactures wirewound
resistors and related products.  It designs, manufactures and sells
its resistors to commercial and industrial markets.

Riedon, Inc., a creditor of Bantry Components, filed an involuntary
Chapter 11 petition (Bankr. D.N.H. Case No. 19-10061) against the
Debtor on Jan. 16, 2019, and is represented by William S. Gannon,
Esq., in Manchester, New Hampshire.

Bantry Components consented to the entry of order for relief in the
involuntary Chapter 11 case.  The order for relief was entered by
the Court on Feb. 11, 2019.

The case his assigned to Judge Michael A. Fagone.  

The Debtor tapped Van De Water Law Offices, PLLC, as legal counsel.


BLACKBOARD TRANSACT: Moody's Assigns Caa1 CFR, Outlook Stable
-------------------------------------------------------------
Moody's Investors Service, Inc. assigned ratings to Blackboard
Transact Holdings, Inc., including a Caa1 Corporate Family Rating,
a Caa1-PD Probability of Default rating, and B3 facility ratings to
new first-lien debt, including a $45 million revolving credit
facility and a $260 million term loan. Proceeds from the first-lien
term loan, a new, $110 million second-lien term loan (unrated), and
$360 million of cash common equity from financial sponsor Reverence
Capital Partners will be used to finance Reverence's $715 million
(maximum) purchase of Transact, which is being carved out from
Blackboard Inc.. The outlook is stable. The purchase price is a
roughly 14 times multiple of Transact's pro-forma adjusted EBITDA,
as calculated by the company.

Assignments:

Issuer: Blackboard Transact Holdings, Inc.

  Probability of Default Rating, assigned Caa1-PD

  Corporate Family Rating, assigned Caa1

  Senior secured first-lien credit facilities maturing
  2024 and 2026, assigned B3 (LGD3)

Outlook is stable

RATINGS RATIONALE

Transact's Caa1 CFR reflects exceptionally high Moody's adjusted
debt-to-EBITDA leverage and its expectations for weak free cash
flow over the near and intermediate term. Moody's calculates the
company's leverage by expensing Transact's substantial capitalized
software development costs, bringing the measure at closing to
roughly 9.0 times. Without that adjustment (but including Moody's
other standard adjustments), closing leverage is about 7.4 times.
The company, a provider of software and services for facilitating
tuition payments and smaller commercial transactions at higher
education institutions, will be faced with a very high interest
burden as well as stand-alone costs that are not always easy to
estimate before a company is actually operating independently.
However, the company's having operated as a separately reported
unit within Blackboard, with dedicated product development and
sales teams and a longstanding management team that's staying in
place, will mollify stand-alone-cost risks.

Transact's revenue scale, which Moody's estimates at just over $200
million in 2019, is small on an absolute basis. Unforeseen costs or
revenue disruptions could exacerbate what Moody's expects to be
negative intermediate-term free cash flow. In each of its two
operating segments, Integrated Payment Solutions (56% of revenues)
and Campus Commerce and Engagement (44%), Transact shares
leadership positions with another competitor, with a third
competitor close behind in both. Three players make up three
quarters of the competitors in both segments, operating within a
total addressable market that's only three quarters of a billion
dollars, albeit one that is growing well and is
recession-resistant.

Substantial resources will need to be expended continuously to stay
ahead in such a technologically competitive environment. However,
once a customer is won, competitors enjoy excellent customer and
revenue retention rates, no customer concentration, and reliable
software-subscription-based and transaction-fee-based revenues.
Industry fundamentals are in Transact's favor, too, as the
importance and expense of higher education grow, and as students
and their families rely increasingly on the convenience of online
tuition payments and electronic payments for campus transactions
that the company's services and embedded software and devices
accommodate.

Moody's views Transact's liquidity as adequate, as it begins
operating as an independent entity with minimal opening cash and an
ample $45 million revolver that may need to be drawn on, given its
expectations for modestly negative free cash flow and the
pronounced seasonality that an academic year poses. Moody's expects
free cash flow as a percentage of debt to reach only 1% by 2020.

The stable outlook takes into account Moody's expectations for
mid-single-digit percentage revenue growth, steady, roughly 24%
EBITDA margins (which include the expensing of software development
costs), and Moody's-adjusted debt-to-EBITDA leverage easing towards
7.5 times (again, including the software development adjustment) by
late 2020.

The ratings could be upgraded if revenue growth is solid, liquidity
is good, and if Moody's anticipates that financial leverage will be
sustained below 7.5 times. A downgrade could result if Moody's
believes that leverage will worsen. Moody's will also consider a
downgrade if revenues stagnate, free cash flow is persistently
negative, or if it believes that Transact's access to the revolver
may be threatened.

With Moody's-projected 2019 revenues of just above $200 million,
Blackboard Transact provides software, services, and devices for
facilitating tuition payments and smaller commercial transactions
at approximately 1,600 higher education institutions in the U.S.
The company is expected to be spun out of Blackboard, Inc. in the
first half of 2019 through an LBO backed by Reverence Capital
Partners.


BLUE BEVERAGE: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Blue Beverage Group Inc.
        152 Broadway
        Haverstraw, NY 10927

Business Description: Blue Beverage Group Inc. is privately held
                      company in Haverstraw, New York that
                      provides food sterilization services.
                      Its retort operation makes beverages sterile
                      by processing aluminum cans at high heat.

Chapter 11 Petition Date: April 19, 2019

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

Case No.: 19-22835

Judge: Hon. Robert D. Drain

Debtor's Counsel: Mark A. Frankel, Esq.
                  BACKENROTH FRANKEL & KRINSKY, LLP
                  800 Third Avenue, 11th Floor
                  New York, NY 10022
                  Tel: (212) 593-1100
                  Fax: (212) 644-0544
                  E-mail: mfrankel@bfklaw.com

Total Assets: $1,218,000

Total Liabilities: $27,850,225

The petition was signed by Joseph Goldberger, managing member.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 20 largest unsecured creditors is available
for free at:

           http://bankrupt.com/misc/nysb19-22835.pdf


BLUE EAGLE FARMING: Court Overrules Objection to Trustee's Claims
-----------------------------------------------------------------
Bankruptcy Judge Tamara O. Mitchell denied Blue Eagle Farming, LLC
and affiliates' Objection and Motion for a Judgment on the
Pleadings and As a Matter of Law As to Proofs of Claim Numbers 5, 6
and 7 filed by Richard Arrowsmith, as Liquidating Trustee of the
HDL Liquidating Trust. The Debtors' Objection and Motion, to the
extent it requests that the Proofs of Claim be disallowed is
overruled without prejudice.

The Debtors urge the Court to determine that based on the
Liquidating Trustee's pleadings, he has no viable causes of action
against the Debtors, without regard to any of the underlying
evidence. However, considering the complexity of both the alleged
causes of action and the espoused defenses, even when taking the
material facts alleged in the pleadings as true, the Court finds
that the disputes cannot be resolved without examining the
underlying evidence. Although the Court can understand why the
Debtors would prefer a less expensive and less protracted
resolution to the disputes, it is not justified in this matter.
Because Bankruptcy Rule 7012 is not applicable in contested
matters, the Debtors' request for a judgment on the pleadings is
denied.

A proof of claim filed in accordance with Bankruptcy Rule 3001 is
"prima facie evidence of the validity and amount of the claim."
Fed. R. Bankr. P. 3001(f). "The burden then shifts to the objecting
party to "'come forward with enough substantiations to overcome the
claimant’s prima facie case.'" The prima facie validity of a
claim may be rebutted by evidence, not a legal argument.

For purposes of their Objection, the Debtors did not provide
evidence to rebut the prima facie validity of the Proofs of Claim,
as their end goal was to receive a judgment on the pleadings
without the need for this Court to examine the evidence. Because
the prima facie validity of the Proofs of Claim has not been
rebutted, the Debtors' Objection is overruled.

A copy of the Court's Memorandum Opinion and Order dated April 1,
2019 is available at https://tinyurl.com/y2l7mwo5 from
PacerMonitor.com at no charge.

                  About Blue Eagle Farming

Blue Eagle Farming and H J Farming are engaged in the business of
cattle ranching and farming.  Blue Smash Investments operates in
the financial investment industry; War-Horse Properties manages
companies and enterprises; Eagle Ray Investments and Forse
Investments are lessors of real estate while Armor Light, LLC, is
engaged in the business of residential building construction.

Blue Eagle Farming, LLC, and its affiliate H J Farming, LLC, sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D.
Ala. Case Nos. 18-02395 and 18-02397) on June 8, 2018.

On June 9, 2018, five Blue Eagle affiliates filed Chapter 11
petitions: Blue Smash Investments LLC, Eagle Ray Investments LLC,
Forse Investments LLC, Armor Light LLC, and War-Horse Properties,
LLLP (Bankr. N.D. Ala. Case Nos. 18-81707 to 18-81711).  The cases
are jointly administered under Case No. 18-02395.

In the petitions signed by Robert Bradford Johnson, general partner
of Blue Eagle Farming, LLC's sole owner, Blue Eagle estimated $1
million to $10 million in assets and $100 million to $500 million
in liabilities as of the bankruptcy filing.

Judge Tamara O. Mitchell presides over the cases.

Burr & Forman LLP is the Debtors' legal counsel.


BOURDOW CONTRACTING: Taps Warner Norcross as Legal Counsel
----------------------------------------------------------
Bourdow Contracting LLC received approval from the U.S. Bankruptcy
Court for the Eastern District of Michigan to hire Warner Norcross
& Judd, LLP, as its legal counsel.

The firm will represent the Debtor in negotiations concerning the
sale of its assets or formulation of a reorganization plan; assist
the Debtor in obtaining financing; prosecute claims of its estate;
and provide other legal services in connection with its Chapter 11
case.

The firm's hourly rates are:

         Susan Cook         $400
         Rozanne Giunta     $400
         Adam Bruski        $295

Warner received a retainer in the sum of $40,000.

Susan Cook, Esq., a partner at Warner, disclosed in court filings
that her firm is "disinterested" as defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached through:

     Susan M. Cook, Esq.
     Warner Norcross & Judd, LLP
     715 E. Main Street, Suite 110
     Midland, MI 48640
     Tel: 989-698-3700
          989-698-3759
     E-mail: smcook@wnj.com

                     About Bourdow Contracting

Bourdow Contracting, LLC, a construction company based in Bay City,
Mich., sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. E.D. Mich. Case No. 19-20683) on April 3, 2019.  At the
time of the filing, the Debtor estimated assets of less than
$500,000 and liabilities of between $1 million and $10 million.
The case is assigned to Judge Daniel S. Opperman.  Warner Norcross
& Judd, LLP, is the Debtor's counsel.



BRAZORIA HYDROCARBON: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor: Brazoria Hydrocarbon, LLC
        27010 Rock Island Road
        Hempstead, TX 77445-8848

Business Description: Brazoria Hydrocarbon, LLC is a private
                      company in Hempstead, Texas, in the
                      hydrocarbon gases business.

Chapter 11 Petition Date: April 17, 2019

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

Case No.: 19-32170

Judge: Hon. Jeffrey P Norman

Debtor's Counsel: Margaret Maxwell McClure, Esq.
                  LAW OFFICE OF MARGARET M. MCCLURE
                  909 Fannin, Suite 3810
                  Houston, TX 77010
                  Tel: 713-659-1333
                  Fax: 713-658-0334
                  E-mail: margaret@mmmcclurelaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Dwayne Sampson, managing member.

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

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

            http://bankrupt.com/misc/txsb19-32170.pdf


BRISTOW GROUP: Moody's Cuts CFR to Caa3 & Sr. Sec. Rating to Caa2
-----------------------------------------------------------------
Moody's Investors Service downgraded Bristow Group Inc.'s Corporate
Family Rating to Caa3 from Caa2, Probability of Default Rating to
Caa3-PD from Caa2-PD, senior secured rating to Caa2 from Caa1, and
senior unsecured notes to Ca from Caa3. The SGL-4 Speculative Grade
Liquidity Rating was affirmed. The rating outlook remains
negative.

"The downgrade follows Bristow's decision on April 15 to skip
interest payment on its 6.25% senior unsecured notes due October
2022, as it evaluates various strategic alternatives to strengthen
the capital structure and shore up liquidity," said Sajjad Alam,
Moody's Senior Analyst. "The company has yet to file its financial
statements for the quarter ending December 31, 2018, and is facing
an elevated level of default risk over the near term."

Issuer: Bristow Group Inc.

Downgraded:

  Corporate Family Rating, Downgraded to Caa3 from
  Caa2

  Probability of Default Rating, Downgraded to Caa3-PD
  from Caa2-PD

  Senior Secured Notes, Downgraded to Caa2 (LGD2) from
  Caa1 (LGD3)

  Senior Unsecured Notes, Downgraded to Ca (LGD5) from
  Caa3 (LGD5)

Affirmed

  Speculative Grade Liquidity Rating, Affirmed SGL-4

Outlook:

  Maintain Negative Outlook

RATINGS RATIONALE

Bristow's Caa3 CFR reflects its unsustainably high debt burden and
the associated high debt service cost; elevated default risk due to
voluntary non-payment of interest on April 15, 2019, delayed
financial reporting, potential non-financial covenant violation,
and the uncertainty around the company's ability to continue as a
going concern; and projected negative free cash flow generation
through fiscal 2020 that will further weaken liquidity. If the
company does not make the $12.5 million interest payment on the
6.25% senior unsecured notes within the 30-day grace period, it
will be an "Event of Default" under the notes indenture.
Additionally, there's substantial risk that Bristow's independent
auditor could include a "going concern" statement in the annual
10-K filing, which would also trigger an "Event of Default" under
Bristow's certain secured equipment financings. The rating also
considers the poor outlook for the offshore oil and gas industry,
and Moody's expectation of persistent pricing pressure for
helicopter services due to industry-wide overcapacity.

Bristow's leverage will remain very high at around 7x through
fiscal 2020, and ongoing projected negative free cash flow will
further erode liquidity. The company has not filed its fiscal third
quarter 2019 financials on due date and management has concluded
that there is "material weakness" in internal controls involving
certain non-financial covenants of its secured financing and lease
agreements. Moody's expects negative free cash flow generation to
continue through fiscal 2020 leaving very limited cash cushion
unless the company is able to execute assets sales or raise funding
through other means.

The SGL-4 rating reflects weak liquidity. Bristow will generate
$70-$80 million of negative free cash flow in fiscal 2020 reducing
its cash balance. As of December 31, 2018, Bristow had $231 million
of balance sheet cash and $6 million of availability under its ABL
facility, but Moody's estimates total liquidity would be lower
today following the $20 million breakup fee payment to Columbia
Helicopters (unrated) and likely negative free cash flow generation
since December 31. Bristow has been returning leased helicopters
and selling unencumbered helicopters to boost liquidity, but it has
been a slow process thus far.

Bristow's senior notes are rated Ca, one notch below the Caa3 CFR
given the significant amount of secured debt in the capital
structure. The secured term loan is rated one notch above the CFR
at Caa2 because of their priority-claim to Bristow's assets in a
potential default scenario.

The negative outlook reflects the high likelihood of a potential
restructuring. The PDR could be downgraded if the company
selectively defaults on a particular debt instrument or files under
Chapter 11. An upgrade is unlikely in 2019 absent a significant
reduction in refinancing and default risks.

The principal methodology used in these ratings was Global Oilfield
Services Industry Rating Methodology published in May 2017.

Bristow Group Inc., headquartered in Houston, Texas, is a leading
provider of helicopter transportation services to the oil and gas
industry worldwide.


CAREVIEW COMMUNICATIONS: Signs 4th Amendment to Credit Amendment
----------------------------------------------------------------
As previously reported by CareView Communications, Inc., in its
Current Report on Form 8-K filed with the Securities and Exchange
Commission on Feb. 5, 2018, the Company, CareView Communications,
Inc., a Texas corporation and a wholly owned subsidiary of the
Company (the "Borrower"), CareView Operations, L.L.C., a Texas
limited liability company and a wholly owned subsidiary of the
Borrower (the "Subsidiary Guarantor"), and PDL Investment Holdings,
LLC (as assignee of PDL BioPharma, Inc.), in its capacity as
administrative agent and lender (the "Lender") under the Credit
Agreement dated as of June 26, 2015, as amended, by and among the
Company, the Borrower and the Lender, entered into a Modification
Agreement on Feb. 2, 2018, effective as of Dec. 28, 2017, with
respect to the Credit Agreement in order to modify certain
provisions of the Credit Agreement and Loan Documents to prevent an
Event of Default from occurring.

Under the Modification Agreement, the parties agreed that (i) the
Borrower would not make the principal payment due under the Credit
Agreement on Dec. 31, 2017 until the end of the Modification
Period, (ii) the Borrower would not pay the principal installments
due at the end of each calendar quarter during the Modification
Period and (iii) because the Borrower's Liquidity (as defined in
the Credit Agreement) was anticipated to fall below $3,250,000, the
Liquidity required during the Modification Period would be lowered
to $2,500,000.  The Lender agreed that the occurrence and
continuance of any of the Covered Events will not constitute Events
of Default for a period from Dec. 28, 2017 through the earliest to
occur of (a) any Event of Default under any Loan Documents that
does not constitute a Covered Event, (b) any event of default under
the Modification Agreement, (c) the Lender's election, in its sole
discretion, to terminate the Modification Period on May 31, 2018 or
Sept. 30, 2018 (with each such date permitted to be extended by the
Lender in its sole discretion) by delivering a written notice to
the Borrower on or prior to such date, or (d) Dec. 31, 2018.
In consideration of the Lender's entry into the Modification
Agreement, the Company and the Borrower agreed, among other things,
that the Borrower would obtain (i) at least $2,250,000 in net cash
proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt (each such term as defined in
the Credit Agreement) on or prior to Feb. 23, 2018 and (ii) an
additional $3,000,000 in net cash proceeds from the issuance of
Capital Stock (other than Disqualified Capital Stock) or Debt on or
prior to May 31, 2018 (resulting in aggregate net cash proceeds of
at least $5,250,000).

As previously reported in the Company's Current Report on Form 8-K
filed with the SEC on Feb. 26, 2018, the Company, the Borrower and
the Lender entered into a Second Amendment to Credit Agreement on
Feb. 23, 2018, pursuant to which, among other things, the parties
agreed to amend the Modification Agreement to provide that the
Borrower could satisfy its obligations under the Modification
Agreement to obtain financing by obtaining (i) at least $2,050,000
in net cash proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to Feb. 23, 2018
and (ii) an additional $3,000,000 in net cash proceeds from the
issuance of Capital Stock (other than Disqualified Capital Stock)
or Debt on or prior to May 31, 2018 (resulting in aggregate net
cash proceeds of at least $5,050,000).

As previously reported in the Company's Current Report on Form 8-K
filed with the SEC on June 4, 2018, the Company, the Borrower, the
Subsidiary Guarantor and the Lender entered into an Amendment to
Modification Agreement on May 31, 2018, pursuant to which the
parties agreed to amend the Modification Agreement to provide that
the dates on which the Lender may elect, in the Lender's sole
discretion, to terminate the Modification Period would be July 31,
2018 and Sept. 30, 2018 (with each such date permitted to be
extended by the Lender in its sole discretion); and that the
Borrower could satisfy its obligations under the Modification
Agreement to obtain financing by obtaining (i) at least $2,050,000
in net cash proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to Feb. 23, 2018
and (ii) an additional (A) $750,000 in net cash proceeds from the
issuance of Capital Stock (other than Disqualified Capital Stock)
or Debt on or prior to June 15, 2018 and (B) $750,000 in net cash
proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to Aug. 31, 2018
(resulting in aggregate net cash proceeds of at least $3,550,000).

As previously reported in the Company's Current Report on Form 8-K
filed with the SEC on June 15, 2018, the Company, the Borrower, the
Subsidiary Guarantor and the Lender entered into a Second Amendment
to Modification Agreement on June 14, 2018, pursuant to which the
parties agreed to further amend the Modification Agreement to
provide that the Borrower could satisfy its obligations under the
Modification Agreement to obtain financing by obtaining (i) at
least $2,050,000 in net cash proceeds from the issuance of Capital
Stock (other than Disqualified Capital Stock) or Debt on or prior
to Feb. 23, 2018 and (ii) an additional (A) $750,000 in net cash
proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to July 3, 2018
(rather than June 15, 2018) and (B) $750,000 in net cash proceeds
from the issuance of Capital Stock (other than Disqualified Capital
Stock) or Debt on or prior to Aug. 31, 2018 (resulting in aggregate
net cash proceeds of at least $3,550,000).

As previously reported in the Company's Current Report on Form 8-K
filed with the SEC on July 5, 2018, the Company, the Borrower, the
Subsidiary Guarantor and the Lender entered into a Third Amendment
to Modification Agreement on June 28, 2018, pursuant to which the
parties agreed to further amend the Modification Agreement to
provide that the Borrower could satisfy its obligations under the
Modification Agreement to obtain financing by obtaining (i) at
least $2,050,000 in net cash proceeds from the issuance of Capital
Stock (other than Disqualified Capital Stock) or Debt on or prior
to Feb. 23, 2018 and (ii) an additional (A) $750,000 in net cash
proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to July 13, 2018
(rather than July 3, 2018) and (B) $750,000 in net cash proceeds
from the issuance of Capital Stock (other than Disqualified Capital
Stock) or Debt on or prior to Aug. 31, 2018 (resulting in aggregate
net cash proceeds of at least $3,550,000).

As previously reported in the Company's Current Report on Form 8-K
filed with the SEC on Sept. 5, 2018, the Company, the Borrower, the
Subsidiary Guarantor and the Lender entered into a Fourth Amendment
to Modification Agreement on Aug. 31, 2018, pursuant to which the
parties agreed to further amend the Modification Agreement to
provide that the Borrower could satisfy its obligations under the
Modification Agreement to obtain financing by obtaining (i) at
least $2,050,000 in net cash proceeds from the issuance of Capital
Stock (other than Disqualified Capital Stock) or Debt on or prior
to Feb. 23, 2018 and (ii) an additional (A) $750,000 in net cash
proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to July 13, 2018
and (B) $750,000 in net cash proceeds from the issuance of Capital
Stock (other than Disqualified Capital Stock) or Debt on or prior
to Sept. 30, 2018 (rather than Aug. 31, 2018) (resulting in
aggregate net cash proceeds of at least $3,550,000).

As previously reported in the Company's Current Report on Form 8-K
filed with the SEC on Oct. 4, 2018, the Company, the Borrower, the
Subsidiary Guarantor and the Lender entered into a Fifth Amendment
to Modification Agreement on Sept. 28, 2018, pursuant to which the
parties agreed to amend the Modification Agreement to provide that
the dates on which the Lender may elect, in the Lender's sole
discretion, to terminate the Modification Period would be July 31,
2018 and Nov. 12, 2018 (with each such date permitted to be
extended by the Lender in its sole discretion); that the Borrower
could satisfy its obligations under the Modification Agreement to
obtain financing by obtaining (i) at least $2,050,000 in net cash
proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to Feb. 23, 2018
and (ii) an additional (A) $750,000 in net cash proceeds from the
issuance of Capital Stock (other than Disqualified Capital Stock)
or Debt on or prior to July 13, 2018 and (B) $750,000 in net cash
proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to Nov. 12, 2018
(rather than Sept. 30, 2018) (resulting in aggregate net cash
proceeds of at least $3,550,000); and that the Liquidity required
during the Modification Period would be lowered to $1,825,000 from
$2,500,000.

As previously reported in the Company's Current Report on Form 8-K
filed with the SEC on Nov. 16, 2018, the Company, the Borrower, the
Subsidiary Guarantor and the Lender entered into a Sixth Amendment
to Modification Agreement on Nov. 12, 2018, pursuant to which the
parties agreed to amend the Modification Agreement to provide that
the dates on which the Lender may elect, in the Lender's sole
discretion, to terminate the Modification Period would be July 31,
2018 and Nov. 19, 2018 (with each such date permitted to be
extended by the Lender in its sole discretion); and that the
Borrower could satisfy its obligations under the Modification
Agreement to obtain financing by obtaining (i) at least $2,050,000
in net cash proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to Feb. 23, 2018
and (ii) an additional (A) $750,000 in net cash proceeds from the
issuance of Capital Stock (other than Disqualified Capital Stock)
or Debt on or prior to July 13, 2018 and (B) $750,000 in net cash
proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to Nov. 19, 2018
(rather than Nov. 12, 2018) (resulting in aggregate net cash
proceeds of at least $3,550,000).

As previously reported in the Company's Current Report on Form 8-K
filed with the SEC on Nov. 21, 2018, the Company, the Borrower, the
Subsidiary Guarantor and the Lender entered into a Seventh
Amendment to Modification Agreement on Nov. 19, 2018, pursuant to
which the parties agreed to amend the Modification Agreement to
provide that the dates on which the Lender may elect, in the
Lender's sole discretion, to terminate the Modification Period
would be July 31, 2018 and Dec. 3, 2018 (with each such date
permitted to be extended by the Lender in its sole discretion); and
that the Borrower could satisfy its obligations under the
Modification Agreement to obtain financing by obtaining (i) at
least $2,050,000 in net cash proceeds from the issuance of Capital
Stock (other than Disqualified Capital Stock) or Debt on or prior
to Feb. 23, 2018 and (ii) an additional (A) $750,000 in net cash
proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to July 13, 2018
and (B) $750,000 in net cash proceeds from the issuance of Capital
Stock (other than Disqualified Capital Stock) or Debt on or prior
to Dec. 3, 2018 (rather than Nov. 19, 2018) (resulting in aggregate
net cash proceeds of at least $3,550,000).

As previously reported in the Company's Current Report on Form 8-K
filed with the SEC on Dec. 6, 2018, the Company, the Borrower, the
Subsidiary Guarantor and the Lender entered into an Eighth
Amendment to Modification Agreement on Dec. 3, 2018, pursuant to
which the parties agreed to amend the Modification Agreement to
provide that the dates on which the Lender may elect, in the
Lender's sole discretion, to terminate the Modification Period
would be July 31, 2018 and Dec. 17, 2018 (with each such date
permitted to be extended by the Lender in its sole discretion);
that the Borrower could satisfy its obligations under the
Modification Agreement to obtain financing by obtaining (i) at
least $2,050,000 in net cash proceeds from the issuance of Capital
Stock (other than Disqualified Capital Stock) or Debt on or prior
to Feb. 23, 2018 and (ii) an additional (A) $750,000 in net cash
proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to July 13, 2018
and (B) $750,000 in net cash proceeds from the issuance of Capital
Stock (other than Disqualified Capital Stock) or Debt on or prior
to Dec. 17, 2018 (rather than Dec. 3, 2018) (resulting in aggregate
net cash proceeds of at least $3,550,000); and that the Liquidity
required during the Modification Period would be lowered to
$1,525,000 from $1,825,000.

As previously reported in the Company's Current Report on Form 8-K
filed with the SEC on Dec. 21, 2018, the Company, the Borrower, the
Subsidiary Guarantor and the Lender entered into a Ninth Amendment
to Modification Agreement on Dec. 17, 2018, pursuant to which the
parties agreed to amend the Modification Agreement to provide that
the dates on which the Lender may elect, in the Lender's sole
discretion, to terminate the Modification Period would be July 31,
2018 and Jan. 31, 2019 (with each such date permitted to be
extended by the Lender in its sole discretion); that the Borrower
could satisfy its obligations under the Modification Agreement to
obtain financing by obtaining (i) at least $2,050,000 in net cash
proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to Feb. 23, 2018
and (ii) an additional (A) $750,000 in net cash proceeds from the
issuance of Capital Stock (other than Disqualified Capital Stock)
or Debt on or prior to July 13, 2018 and (B) $750,000 in net cash
proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to Jan. 31, 2019
(rather than Dec. 17, 2018) (resulting in aggregate net cash
proceeds of at least $3,550,000); that the Liquidity required
during the Modification Period would be lowered to $750,000 from
$1,525,000; and that the Borrower's interest payment that would
otherwise be due to Lender on
Dec. 31, 2018 would be deferred until Jan. 31, 2019 (the end of the
extended Modification Period) and that such deferral would be an
additional Covered Event.

As previously reported in the Company's Current Report on Form 8-K
filed with the SEC on Feb. 5, 2019, the Company, the Borrower, the
Subsidiary Guarantor and the Lender entered into a Tenth Amendment
to Modification Agreement on Jan. 31, 2019, pursuant to which the
parties agreed to amend the Modification Agreement to provide that
the dates on which the Lender may elect, in the Lender's sole
discretion, to terminate the Modification Period would be July 31,
2018 and Feb. 28, 2019 (with each such date permitted to be
extended by the Lender in its sole discretion); that the Borrower
could satisfy its obligations under the Modification Agreement to
obtain financing by obtaining (i) at least $2,050,000 in net cash
proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to Feb. 23, 2018
and (ii) an additional (A) $750,000 in net cash proceeds from the
issuance of Capital Stock (other than Disqualified Capital Stock)
or Debt on or prior to July 13, 2018 and (B) $750,000 in net cash
proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to Feb. 28, 2019
(rather than January 31, 2019) (resulting in aggregate net cash
proceeds of at least $3,550,000); and that the Borrower's interest
payment that would otherwise be due to Lender on Dec. 31, 2018
would be deferred until Feb. 28, 2019 (the end of the extended
Modification Period) and that such deferral would be a Covered
Event.

As previously reported in the Company's Current Report on Form 8-K
filed with the SEC on March 4, 2019, the Company, the Borrower, the
Subsidiary Guarantor and the Lender entered into an Eleventh
Amendment to Modification Agreement on Feb. 28, 2019, pursuant to
which the parties agreed to amend the Modification Agreement to
provide that the dates on which the Lender may elect, in the
Lender's sole discretion, to terminate the Modification Period
would be July 31, 2018 and March 31, 2019 (with each such date
permitted to be extended by the Lender in its sole discretion);
that the Borrower could satisfy its obligations under the
Modification Agreement to obtain financing by obtaining (i) at
least $2,050,000 in net cash proceeds from the issuance of Capital
Stock (other than Disqualified Capital Stock) or Debt on or prior
to Feb. 23, 2018 and (ii) an additional (A) $750,000 in net cash
proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to July 13, 2018
and (B) $750,000 in net cash proceeds from the issuance of Capital
Stock (other than Disqualified Capital Stock) or Debt on or prior
to March 31, 2019 (rather than Feb. 28, 2019) (resulting in
aggregate net cash proceeds of at least $3,550,000); and that the
Borrower's interest payment that would otherwise be due to Lender
on Dec. 31, 2018 would be deferred until March 31, 2019 (the end of
the extended Modification Period) and that such deferral would be a
Covered Event.

As previously reported in the Company's Current Report on Form 8-K
filed with the SEC on April 2, 2019, the Company, the Borrower, the
Subsidiary Guarantor and the Lender entered into a Twelfth
Amendment to Modification Agreement on March 29, 2019, pursuant to
which the parties agreed to amend the Modification Agreement to
provide that the dates on which the Lender may elect, in the
Lender’s sole discretion, to terminate the Modification Period
would be July 31, 2018 and April 30, 2019 (with each such date
permitted to be extended by the Lender in its sole discretion);
that the Borrower could satisfy its obligations under the
Modification Agreement to obtain financing by obtaining (i) at
least $2,050,000 in net cash proceeds from the issuance of Capital
Stock (other than Disqualified Capital Stock) or Debt on or prior
to Feb. 23, 2018 and (ii) an additional (A) $750,000 in net cash
proceeds from the issuance of Capital Stock (other than
Disqualified Capital Stock) or Debt on or prior to July 13, 2018
and (B) $750,000 in net cash proceeds from the issuance of Capital
Stock (other than Disqualified Capital Stock) or Debt on or prior
to April 30, 2019 (rather than March 31, 2019) (resulting in
aggregate net cash proceeds of at least $3,550,000); and that the
Borrower's interest payments that would otherwise be due to Lender
on Dec. 31, 2018 and on March 31, 2019 would be deferred until
April 30, 2019 (the end of the extended Modification Period) and
that such deferrals would be a Covered Event.  The parties also
agreed that any breaches by the Company or the Borrower of the
minimum cash balance requirement formerly set forth in the
HealthCor Note and Warrant Purchase Agreement, as amended, that
occurred on or prior to March 27, 2019 would be permanently waived
and would not constitute Events of Default under a Loan Document so
long as such breaches had been waived under the HealthCor Note and
Warrant Purchase Agreement, as amended, and as such, that any such
breaches would be a Covered Event.

On April 9, 2019, the Company, the Borrower and the Lender entered
into a Fourth Amendment to Credit Agreement, and in connection with
the Fourth Credit Agreement Amendment, the Borrower executed an
Amended and Restated Tranche One Term Note in the principal amount
of $20,000,000 to the Lender, pursuant to which the parties agreed,
among other things, to amend the note from registered to
unregistered form.

                   About CareView Communications

CareView Communications, Inc. -- http://www.care-view.com/-- is a
provider of products and on-demand application services for the
healthcare industry, specializing in bedside video monitoring,
software tools to improve hospital communications and operations,
and patient education and entertainment packages.  Its proprietary,
high-speed data network system is the next generation of patient
care monitoring that allows real-time bedside and point-of-care
video monitoring designed to improve patient safety and overall
hospital costs.  The entertainment packages and patient education
enhance the patient's quality of stay.  CareView is dedicated to
working with all types of hospitals, nursing homes, adult living
centers and selected outpatient care facilities domestically and
internationally.  The Company's corporate offices are located at
405 State Highway 121 Bypass, Suite B-240, Lewisville, TX 75067.

Careview Communications reported a net loss of $16.07 million for
the year ended Dec. 31, 2018, compared to a net loss of $20.07
million for the year ended Dec. 31, 2017.  As of Dec. 31, 2018,
Careview Communications had $8.99 million in total assets, $86.81
million in total liabilities, and a total stockholders' deficit of
$77.81 million.

BDO USA, LLP, in Dallas, Texas, the Company's auditor since 2010,
issued a "going concern" qualification in its report dated March
29, 2019, on the Company's consolidated financial statements for
the year ended Dec. 31, 2018, stating that the Company has suffered
recurring losses from operations and has accumulated losses since
inception that raise substantial doubt about its ability to
continue as a going concern.


CCS ONCOLOGY: PCO Files 7th Report
----------------------------------
Joseph J. Tomaino, the duly appointed Patient Care Ombudsman in the
bankruptcy cases of Comprehensive Cancer Services Oncology PC and
its debtor affiliate, CSS Medical PLLC, filed the seventh report
pursuant to 11 U.S.C. Section 333 (b)(2) of the Bankruptcy Code.

Based on the interview and calls, the PCO learned that all of the
Debtors' medical records, both paper and electronic, have been
transferred to their final custodians per the advice of the Chapter
11 Trustee. Further, the PCO was informed that the patients were
provided notice by the Chapter 11 Trustee on the location of their
medical providers, when applicable, and how to obtain their medical
records.

Moreover, the PCO reported that the calls from patients seeking
clarification on the information sent to them on their doctors and
medical records have consistently declined.

A full-text copy of the Seventh Report is available at:

         http://bankrupt.com/misc/nywb18-10599-520.pdf

             About CCS Oncology

CCS Oncology is a professional corporation operating a practice of
medical and radiological oncology treatment, with offices in
Orchard Park, Frankhauser, Niagra Falls, Kenmore, and Lockport. CSS
Medical PLLC is a provider of primary care and specialty medicine
services currently operating at Orchard Park, Delaware Avenue, and
Youngs.

CCS Oncology is the sole member of CCS Medical. CCS Equipment is
the owner of certain medical equipment used in the medical
practices and CCS Oncology is its sole member. CCS Billing was
intended to be developed into a separate billing entity for the
medical practices, but was never funded or operational. CCS Billing
has no assets and has had no activity other than showing a couple
of minimal historical accounting entries.  WSEJ is the owner of
certain real property used by the medical practices. The Debtors
are headquartered in Orchard Park, New York.

Comprehensive Cancer Services Oncology, P.C., doing business as CCS
Oncology, doing business as CCS Healthcare, along with its
affiliates, sought Chapter 11 protection (Bankr. W.D.N.Y. Lead Case
No. 18-10598) on April 2, 2018.  In the petitions signed by Won Sam
Yi, president/CEO, CCS estimated at least $50,000 in assets and $10
million to $50 million in liabilities.

Judge Michael J. Kaplan is the case judge.  

Arthur G. Baumeister, Jr., Esq., of Baumeister Denz LLP, serves as
the Debtors' counsel.

Mark Schlant has been named the Chapter 11 trustee.


CHECKERS HOLDINGS: Moody's Cuts CFR to Caa1, Outlook Changed to Neg
-------------------------------------------------------------------
Moody's Investors Service downgraded Checkers Holdings, Inc.'s debt
ratings, including its Corporate Family Rating to Caa1 from B3 and
Probability of Default Rating to Caa1-PD from B3-PD. Moody's also
downgraded Checkers senior secured 1st lien term loan and 1st lien
revolver to B3 from B1. The ratings outlook is negative.

"The downgrade and negative outlook reflect Checkers weaker than
expected operating earnings that has led to higher than anticipated
leverage, an inability to coverage interest on an EBIT basis and
weak liquidity which are unlikely to materially improve over the
intermediate term." stated Bill Fahy, Moody's Senior Credit
Officer. An extended trend of negative same store sales and cost
pressures resulted in a prolonged period of weaker than expected
earnings and cash flow, resulting in the probability that the
company will exceed its maximum total leverage covenant. As a
result, Checker's owners, Oak Hill Capital Partners committed to
provide a qualified capital contribution in an amount expected to
be sufficient to cure a probable covenant violation. "Given our
view that revenue and earnings growth will remain difficult and
margin pressures will continue, Checkers ability to strengthen its
liquidity position and remain compliant with covenants will be very
difficult absent further capital contribution as covenants continue
to step down." stated Fahy. Checkers has a single fixed charge
maximum leverage ratio that steps down to 7.5 times from 7.75 times
on June 30, 2019 and to 7.25 times at December 30, 2019. Checkers
maximum total leverage calculation as of December 31, 2018 was
about 7.4 times.

Downgrades:

Issuer: Checkers Holdings, Inc.

  Probability of Default Rating, Downgraded to Caa1-PD from B3-PD

  Corporate Family Rating, Downgraded to Caa1 from B3

  Senior Secured Revolving Credit Facility, Downgraded to B3 (LGD3)
from B1 (LGD3)

  Senior Secured Term Loan, Downgraded to B3 (LGD3) from B1 (LGD3)

Outlook Actions:

Issuer: Checkers Holdings, Inc.

  Outlook, Changed To Negative From Stable

RATINGS RATIONALE

Checkers is constrained by its weak liquidity, high leverage and an
inability to cover interest with leverage on a debt to EBITDA basis
of around 9.0 times and EBIT coverage of interest of about 0.5
times as of December 31, 2018. Checker's benefits from its material
level of brand awareness, reasonable scale and diversified
day-part.

The negative outlook reflects Checkers weak operating trends and
industry cost pressures that will likely hamper its ability to
materially strengthen liquidity and improve credit metrics over the
next twelve months.

Checker's ratings could be downgraded if operating performance
continue to deteriorate, leading to increased liquidity concerns or
the potential for a distressed exchange.

A higher rating would require Checkers to materially strengthen
free cash flow and cash balances with a sustained improvement in
operating performance, same store sales and reduced cost structure.
A higher rating would require debt to EBITDA of under 6.5 times and
EBIT to interest exceeding 1.2 times on a sustained basis. A higher
rating would also require adequate liquidity.

Checkers Holdings., Inc. is the parent holding company of Checkers
Drive-in Restaurants, Inc. which owns, operates, and franchises
hamburger quick service restaurants under the brand names Checkers
and Rally's Hamburgers. Annual revenues are approximately $300
million. Checkers is owned by Oak Hill Capital Partners and
management.


CHERRY BROS: Committee Seeks to Hire Polsinelli as Legal Counsel
----------------------------------------------------------------
The official committee of unsecured creditors of Cherry Bros., LLC
seeks approval from the U.S. Bankruptcy Court for the Eastern
District of Pennsylvania to hire Polsinelli PC as its legal
counsel.

The firm will advise the committee of its powers and duties under
the Bankruptcy Code; represent the committee in its consultations
with the company and its affiliates; investigate the Debtors'
business operations and other matters relevant to their Chapter 11
cases or to the formulation of a bankruptcy plan; and provide other
legal services in connection with their Chapter 11 cases.

The firm's hourly rates are:

     Shareholder     $365 - $940
     Counsel         $325 - $690
     Associate       $275 - $500
     Paralegals      $145 - $345

Christopher Ward, Esq., a shareholder of Polsinelli, disclosed in
court filings that his firm is "disinterested" as defined in
Section 101(14) of the Bankruptcy Code.

Polsinelli can be reached through:

     Christopher A. Ward, Esq.
     Polsinelli PC
     222 Delaware Avenue, Suite 1101
     Wilmington, DE 19801
     Phone: 302.252.0920
     Fax: 302.252.0921
     E-mail: CWard@Polsinelli.com

                         About Cherry Bros.

Cherry Bros., LLC is a privately held miscellaneous durable goods
merchant wholesaler.

Cherry Bros. and its affiliate C. Bros. Holdings, LLC filed for
Chapter 11 bankruptcy protection (Bankr. E.D. Penn Lead Case No.
19-11644) on March 18, 2019.  The petitions were signed by Larry
Cherry, authorized representative.  

At the time of the filing, Cherry Bros. estimated assets of $1
million to $10 million and estimated debts of $10 million to $50
million.  C. Bros. Holdings estimated assets of less than $50,000
and liabilities of less than $50,000.

The Debtors tapped Michael Jason Barrie, Esq., at Benesch,
Friedlander, Coplan & Aronoff LLP, as their legal counsel.

The Office of the U.S. Trustee appointed an official committee of
unsecured creditors on April 2, 2019.


CLOUD I Q LLC: Case Summary & 15 Unsecured Creditors
----------------------------------------------------
Debtor: Cloud I Q LLC
        852 West Washington Street
        Crandon, WI 54520

Business Description: Cloud I Q LLC is a Wisconsin-based IT
                      solution provider.

Chapter 11 Petition Date: April 19, 2019

Court: United States Bankruptcy Court
       Eastern District of Wisconsin (Milwaukee)

Case No.: 19-23680

Judge: Hon. Michael G. Halfenger

Debtor's Counsel: Paul G. Swanson, Esq.
                  STEINHILBER SWANSON LLP
                  107 Church Avenue
                  P.O. Box 617
                  Oshkosh, WI 54903-0617
                  Tel: 920-235-6690
                  Fax: 920-426-5530
                  E-mail: pswanson@steinhilberswanson.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jason Neilitz, member.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 15 unsecured creditors is available for free
at:

            http://bankrupt.com/misc/wieb19-23680.pdf


CLOUD PEAK: Moody's Assigns Ca-PD/LD on Missed Interest Payment
---------------------------------------------------------------
Moody's Investors Service affirmed Cloud Peak Energy Resources
LLC's Ca-PD Probability of Default Rating and appended a limited
default designation to the PDR. Moody's also affirmed the company's
Ca Corporate Family Rating, Ca Senior Secured Rating, C Senior
Unsecured Rating, and SGL-4 Speculative Grade Liquidity Rating. The
rating outlook is stable.

The /LD designation indicates a limited default, reflecting the
company's missed interest payment on March 15, 2019 and the
expiration of the grace period on April 14, 2019. Cloud Peak has
entered into a forbearance agreement and expects to initiate a debt
restructuring.

Affirmations:

Issuer: Cloud Peak Energy Resources LLC

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

  Corporate Family Rating, Affirmed Ca

  Speculative Grade Liquidity Rating, Affirmed SGL-4

  Senior Secured Regular Bond/Debenture, Affirmed
  Ca (LGD3)

  Senior Unsecured Regular Bond/Debenture, Affirmed
  C (LGD6)

Outlook Actions:

Issuer: Cloud Peak Energy Resources LLC

  Outlook, Remains Stable

RATINGS RATIONALE

Cloud Peak elected not to make an interest payment under its 6.375%
Senior Notes due 2024, which was due on March 15, 2019, and a grace
period extended the period to April 14, 2019. A forbearance
agreement extends the period to the earlier of: (i) 1 May 2019; and
(ii) date of any additional events of default. An interest payment
on the 12% Second Lien Senior Secured Notes due 2021 is due on May
1, 2019. Cloud Peak has retained restructuring advisors to review
its capital structure and evaluate restructuring alternatives.

The Ca CFR reflects a highly-leveraged balance sheet, recent
operational challenges, ongoing secular decline in the demand for
thermal coal, weak market conditions in the PRB, and the
expectations for low recovery for debtholders in the event of a
restructuring. Moody's expects the continued retirement of
coal-fired power plants will reduce the domestic demand for thermal
coal while the export markets, though strong today, will be
volatile over a longer horizon. Moody's believes that smaller
operations in the PRB, especially operations producing lower heat
coals, will struggle to remain viable in this environment. That
said, a solid contract position, participation in the export
markets, and an ability to conserve cash during difficult market
conditions support the rating.

The stable outlook incorporates a high likelihood of a debt
restructuring. Moody's could downgrade the rating with expectations
for substantive deterioration in liquidity or higher than expected
loss to the creditors in a restructuring. Moody's could upgrade the
rating with expectations for the company to achieve a more
sustainable financial position.

The principal methodology used in these ratings was Mining
published in September 2018.

Cloud Peak Energy Resources LLC is one of the largest producers of
coal in the US with three wholly-owned surface mining operations in
Wyoming and Montana. The company produces subbituminous thermal
coal with low sulfur content and an average heat value between
8,400 Btu and 9,350 Btu. The coal is primarily sold to domestic
electric utilities. Cloud Peak is the only pure play Powder River
Basin (PRB) coal producer it rates, and it controls an estimated
1.0 billion tons of proven and probable reserves. The company
generated about $832 million of revenues for the twelve months
ended December 2018.


COCRYSTAL PHARMA: Weinberg & Company Replaces BDO as Accountant
---------------------------------------------------------------
The Audit Committee of the Board of Directors of Cocrystal Pharma,
Inc. has decided not to renew the engagement of BDO USA, LLP, which
was then serving as the independent registered public accounting
firm of the Company, and on April 17, 2019 the Company notified BDO
that it would be dismissed as the independent registered public
accounting firm of the Company, effective immediately.

The reports of BDO on the Company's consolidated financial
statements for the fiscal years ended Dec. 31, 2018 and Dec. 31,
2017 did not contain any adverse opinion or a disclaimer of opinion
and were not qualified or modified as to uncertainty, audit scope
or accounting principle, except that each report on the Company's
consolidated financial statements contained an explanatory
paragraph regarding the Company's ability to continue as a going
concern and except that each report on the effectiveness of
internal control over financial reporting expressed an adverse
opinion on the effectiveness of the Company's internal control over
financial reporting as of Dec. 31, 2018 and as of Dec. 31, 2017.

On April 12, 2019, the Audit Committee approved the appointment of
Weinberg & Company, P.A. as the new independent registered public
accounting firm.  The Company said that during the fiscal years
ended Dec. 31, 2018 and Dec. 31, 2017 and the subsequent interim
period through April 12, 2019, neither the Company, nor any party
on behalf of the Company, consulted with Weinberg.

                      About Cocrystal Pharma

Cocrystal Pharma, Inc., formerly known as Biozone Pharmaceuticals,
Inc., is a clinical stage biotechnology company discovering and
developing novel antiviral therapeutics that target the replication
machinery of hepatitis viruses, influenza viruses, and noroviruses.
The company is headquartered in Tucker, Georgia.

Cocrystal Pharma incurred a net loss of $49.05 million in 2018,
following a net loss of $613,000 in 2017.  As of Dec. 31, 2018,
Cocrystal Pharma had $68.56 million in total assets, $1.67 million
in total liabilities, and $66.88 million in total stockholders'
equity.

BDO USA, LLP, in Miami, Florida, the Company's auditor since 2013,
issued a "going concern" qualification in its report dated April 1,
2019, on the Company's consolidated financial statements for the
year ended Dec. 31, 2018, citing that the Company has suffered
recurring losses from operations, negative cash flows from
operations and has an accumulated deficit that raise substantial
doubt about its ability to continue as a going concern.


CORT & MEDAS: Taps Shafferman & Feldman LLP as Legal Counsel
------------------------------------------------------------
Cort & Medas Associates, LLC, received approval from the U.S.
Bankruptcy Court for the Eastern District of New York to hire
Shafferman & Feldman LLP as its legal counsel.

The firm will advise the Debtor of its powers and duties under the
Bankruptcy Code; represent the Debtor in negotiation with its
creditors; assist in the preparation of a plan of reorganization;
and provide other legal services in connection with its Chapter 11
case.

Joel Shafferman, Esq., the firm's attorney who will be handling the
case, will charge an hourly fee of $400.  His firm received a
retainer in the amount of $17,017 from the Debtor.

Mr. Shafferman disclosed in court filings that he and his firm are
"disinterested" as defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached through:

     Joel M. Shafferman, Esq.
     Shafferman & Feldman LLP
     137 Fifth Avenue, 9th Floor
     New York, NY 10010
     Tel: (212) 509-1802
     Fax: (212) 509-1831
     E-mail: joel@shafeldlaw.com

                   About Cort & Medas Associates

Cort & Medas Associates, LLC sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 19-41313) on March 6,
2019.  At the time of the filing, the Debtor estimated assets and
liabilities of between $1 million and $10 million.  The case is
assigned to Judge Carla E. Craig.  Shafferman & Feldman LLP is the
Debtor's legal counsel.



CREDIT MANAGEMENT: Taps Brutzkus Gubner as Litigation Counsel
-------------------------------------------------------------
Credit Management Association Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Nevada to employ Brutzkus
Gubner Rozansky Seror Weber LLP as special litigation counsel for
the Debtor to provide legal services for Debtor in connection with
the eBridge ABC Matter.

The Debtor serves as the assignee under the Assignment for the
Benefit of Creditors of eBridge, Inc.

The Assignment for Benefit of Creditors process is akin to a
liquidation, with the Debtor serving as the liquidator. As the
Assignee for eBridge, Inc. in the eBridge ABC Matter, Debtor is
responsible for liquidation of the assets of eBridge as the
assignor and distributing the assets to the creditors of the
eBridge.

Approximately two years prior to the Petition Date, the Debtor
retained Brutzkus Gubner to provide services integral to the
Debtor's role as Assignee in the eBridge ABC Matter. Brutzkus
Gubner is a law firm that will continue to assist the Debtor in
fulfilling its obligations as liquidator or liquidating agent in
the eBridge ABC Matter.

Brutzkus Gubner is a "disinterested person" as that term is issued
in Section 101(14) of the Bankruptcy Code, as modified by
Bankruptcy Code Section 1107(b), and used in Bankruptcy Code
Section 327, as stated in the court filing.

Brutzkus Gubner will be paid from the eBridge ABC estate for the
services it performs on behalf of the Debtor.

The counsel can be reached at:

     Nicholas Rozansky, Esq.
     Susan K. Seflin, Esq.
     Jessica L. Bagdanov, Esq.
     Brutzkus Gubner Rozansky Seror Weber LLP
     21650 Oxnard Street, Suite 500
     Woodland Hills, CA 91367
     Tel: (818) 827-9000
     Fax: (818) 827-9099
     Email: nrozansky@bg.law
            sseflin@bg.law
            jbagdanov@bg.law

                     About Credit Management Association

Credit Management Association, Inc. --
http://creditmanagementassociation.org/-- is a non-profit
association that has served business-to-business companies since
1883.  CMA helps credit, collection, and financial decision-makers
get the information and support they need to make fast, accurate
credit decisions.  In addition, CMA assists insolvent companies
with workouts or liquidation through cost effective alternatives to
bankruptcy.  CMA has 800 members who pay a $495 annual fee for full
membership or a $265 annual fee for an associate membership.  CMA
is headquartered in Las Vegas, Nevada.

Credit Management Association, based in North Las Vegas, Nevada,
filed a Chapter 11 petition (Bankr. D. Nev. Case No. 18-16487) on
Oct. 31, 2018.  In the petition signed by Kimberly Lamberty,
president and CEO, the Debtor estimated $1 million to $10 million
in both assets and liabilities.  The Hon. Mike K. Nakagawa oversees
the case.  The Debtor hired Clark Hill, PLLC, as reorganization
counsel.  Kurtzman Carson Consultants, LLC, is the claims and
noticing agent.


CROWN CAPITAL: DBRS Confirms BB(low) Long Term Issuer Rating
------------------------------------------------------------
DBRS Limited confirmed the Long-Term Issuer Rating of Crown Capital
Partners Inc. (CCP or the Company) at BB (low) with a Stable trend.
CCP has a Support Assessment of SA3, which reflects the expectation
of there being no timely external support. This results in a final
rating that is equivalent to the Company's Intrinsic Assessment.

KEY RATING CONSIDERATIONS

The rating reflects CCP's business model of being a niche player in
the commercial lending space primarily for loans in the range of
$10 million to $25 million. The Company has a long track record
with minimal credit losses and is run by an experienced senior
management team, which has established a well-articulated strategy
for the Company. To diversify earnings, CCP launched Crown Capital
Power LP, a fund to provide investors with attractive, utility-like
income through the direct ownership of Integrated Energy Platforms
that provide electricity under long-term contracts to mid- to
large-scale electricity users, such as manufacturers, hotels and
condominiums.

The rating also considers CCP's modest scale and the limited
diversification of its portfolio. DBRS notes that a recessionary
environment could create headwinds that overwhelm earnings given
CCP's focus on lending to lower-middle-market companies, which may
be less able to cope with an adverse environment. DBRS views
lending to these companies as inherently riskier than lending to
larger corporate. Furthermore, CCP's relatively high dividend
payout results in lower retention of earnings, somewhat limiting
the Company's ability to grow capital organically. In addition,
despite expanding the senior management team, DBRS sees a high
degree of key man risk with CCP, given the importance of the
founders of the Company to its day-to-day operations.

RATING DRIVERS

DBRS could see positive rating pressure should CCP continue to
build scale and diversify earnings while maintaining a strong track
record of low credit losses. In addition, evidence of CCP's ability
to successfully navigate an economic downturn or other significant
challenges could also benefit the rating.

Conversely, a sustained deterioration in earnings would likely lead
to negative rating implications. In addition, DBRS could see
negative rating implications if credit deterioration within CCP's
investment portfolio were to consume significant time and effort of
senior management, which would thereby limit CCP's growth
opportunities.

RATING RATIONALE

CCP, a publicly listed company on the Toronto Stock Exchange under
the symbol CRWN, is a Canadian-based specialty finance company that
has a long track record as an originator and manager of funds for
third-party investors, which are focused on lending to Canadian
lower-middle- and middle-market companies. CCP has established
itself as a niche lender for loans in the range of $10 million to
$25 million, given that competition in this space tends to be
relatively thin outside the large banks. The Company is regulated
by the Alberta Securities Commission, as it is registered under
securities law as an investment fund manager in Alberta and Ontario
as well as a portfolio manager in Alberta, Manitoba and
Saskatchewan. In addition, the Company is registered as an exempt
market dealer in Alberta, British Columbia, Manitoba, Ontario and
Saskatchewan. The Company was originally founded by Crown Life
Insurance Company to manage its private equity and debt investments
and was purchased in 2002 by its senior management team. The
majority of this management team is still at the helm and actively
involved in CCP's day-to-day operations. CCP maintains conservative
underwriting of its investments, which has contributed to its
strong track record of low credit losses. However, DBRS notes that
the limited diversification of its portfolio by industry and
geography is a rating constraint.

CCP's earnings power remains solid as a majority of the Company's
revenue consists of interest income, which provides CCP with stable
and predictable cash flows so long as the Company continues to
invest its capital in a prudent manner. DBRS notes that the
Company's earnings are generally sufficient, with net income of
$7.1 million in 2018, which was up compared with $6.7 million in
2017. However, investments may not perform as expected or loans may
be prepaid in advance of maturity dates. Although prepayment fees
would be received, these prepayments are unpredictable and
introduce reinvestment risk, which could potentially have an impact
on earnings generation. In addition, in DBRS's view, CCP lacks the
scale and diversification necessary to support sustainable earnings
growth through a potential broad economic downturn or if an
industry-specific downturn was to affect a sector(s) in which the
Company is most concentrated.

As a result of the limited diversification of Crown Capital Partner
Funding LP's (previously Capital Fund IV, LP) portfolio by industry
and geography, DBRS considers CCP's risk profile as elevated, which
also reflects the limited number of investments. In addition, the
Company's focus on lending to lower-middle- and middle-market
companies also elevates CCP's risk profile, as DBRS views lending
to these companies as inherently riskier than lending to larger
corporate. However, given the structure of the third-party investor
funds, CCP's exposure to credit risk is somewhat minimized, as any
credit risk is primarily borne by the third-party institutional
investors in the fund. Risk is further mitigated by the hands-on
approach of management and the close working relationships they
foster with the investee companies. CCP is able to monitor investee
company financial performance as a result of the rigorous reporting
requirements each investee company is required to complete and
submit to CCP on a regular basis. To date, CCP has a strong track
record of low credit losses and a proven ability to work out
problem loans.

CCP's funding and liquidity profile are viewed as narrow by DBRS
given that the Company relies on a $35 million senior secured
revolving credit facility with the Alberta Treasury Branches and
Business Development Bank of Canada to fund its investment
activities. As of December 31, 2018, CCP had drawn $18 million on
this credit facility. On June 13, 2018, CCP issued $20 million of
6.0% convertible unsecured subordinated debentures for net proceeds
of $18.7 million. These proceeds were used to repay the
indebtedness under the Company's credit facility, which would
subsequently be available to be drawn, as required, to fund new
financing transactions by CPP. These convertible debentures will
mature on June 30, 2023.

CCP is not subject to minimum capital ratios since it is not a
federally regulated lender. From DBRS's perspective, CCP maintains
an adequate amount of capital that is appropriately aligned with
the risk and earnings profile of the business. The Company's
capital mainly consists of retained earnings and common equity that
was generated through the initial public offering in July 2015,
which DBRS views as sound. As a result of being a publicly listed
company, CCP can access the equity markets to raise additional
capital that could be used to fund any future growth plans of the
Company.

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


CYTODYN INC: Launches $1.1 Million Direct Offering of Securities
----------------------------------------------------------------
CytoDyn Inc. has entered into subscription agreements with certain
investors for the sale by the Company of 2,201,000 shares of the
Company's common stock, par value $0.001 per share, in a registered
direct offering.  The Investors in the Offering also received
warrants to purchase 1,100,500 shares of Common Stock. Each share
of Common Stock was sold together with one half of one Warrant to
purchase one share of Common Stock for a combined purchase price of
$0.50.

The aggregate gross proceeds for the sale of the Common Shares and
Warrants will be approximately $1.1 million.  Subject to certain
ownership limitations, the Warrants will be exercisable commencing
on the issuance date at an exercise price equal to $0.50 per share
of Common Stock, subject to adjustments as provided under the terms
of the Warrants.  The Warrants are exercisable for five years from
the date of issuance.  The closing of the sales of these securities
under the Subscription Agreements is expected to occur on or about
April 16, 2019.

The net proceeds to the Company from the transactions, after
deducting the fees and expenses of the Placement Agent (not
including the Placement Agent Warrants), the Company's estimated
offering expenses, and excluding the proceeds, if any, from the
exercise of the Warrants, are expected to be approximately $1.0
million.  The Company intends to use the net proceeds from the
transactions to fund clinical trials for its lead product candidate
and for general corporate purposes.

The securities sold in the Offering were offered and sold by the
Company pursuant to an effective shelf registration statement on
Form S-3, which was initially filed with the Securities and
Exchange Commission on Feb. 23, 2018 and subsequently declared
effective on March 7, 2018 (File No. 333-223195), and the base
prospectus dated as of March 7, 2018.  The Company will file a
prospectus supplement with the SEC in connection with the sale of
the securities.

Pursuant to the Placement Agent Agreement, dated as of March 18,
2019 with Paulson Investment Company, LLC, the Company has agreed
to pay the Placement Agent a cash fee equal to 9% of the gross
proceeds received by the Company from qualified investors first
introduced to the Company in the Offering by the Placement Agent,
as well as a one-time non-accountable expense fee of $35,000 for
aggregate expenses incurred collectively in the Offering (which was
previously paid in connection with a prior closing).

Pursuant to the Placement Agent Agreement, the Company also agreed
to grant to the Placement Agent or its designees warrants to
purchase up to 9% of the aggregate number of shares sold to
qualified investors in the Offering at an exercise price of $0.50
per share.  The Placement Agent Warrants provide for cashless
exercise.  The Placement Agent Agreement has indemnity and other
customary provisions for transactions of this nature.  The
Placement Agent Warrants and the shares issuable upon exercise of
the Placement Agent Warrants will be issued in reliance on the
exemption from registration provided by Section 4(a)(2) of the
Securities Act as transactions not involving a public offering and
in reliance on similar exemptions under applicable state laws.

                       About CytoDyn Inc.

Headquartered in Vancouver, Washington, CytoDyn Inc. --
http://www.cytodyn.com/-- is a clinical-stage biotechnology
company focused on the clinical development and potential
commercialization of humanized monoclonal antibodies to treat HIV
infection.  Its lead product candidate, PRO 140, belongs to a class
of HIV therapies known as entry inhibitors that block HIV from
entering into and infecting certain cells.  The Company believes
that monoclonal antibodies are a new emerging class of therapeutics
for the treatment of HIV to address unmet medical needs in the area
of HIV and other immunologic indications, such as Graft versus Host
Disease and certain types of cancer.

The Audit Opinion included in the Company's Annual Report on Form
10-K for the year ended May 31, 2018, contains an explanatory
paragraph regarding the Company's ability to continue as a going
concern.  Warren Averett, LLC, in Birmingham, Alabama, the
Company's auditor since 2007, stated that the Company incurred a
net loss of $50,149,681 for the year ended May 31, 2018 and has an
accumulated deficit of $173,139,396 through May 31, 2018, which
raise substantial doubt about its ability to continue as a going
concern.

As of Feb. 28, 2019, CytoDyn had $20.42 million in total assets,
$26.67 million in total liabilities, and a total stockholders'
deficit of $6.24 million.


DDC GROUP: April 30 Hearing on Disclosure Statement
---------------------------------------------------
A hearing has been set for April 30, 2019, at 10:00 a.m., to
determine the adequacy of the first amended disclosure statement
explaining DDC Group, Inc.'s First Amended Chapter 11 Plan of
Reorganization.  Any response or opposition to the Disclosure
Statement must be filed and served at least fourteen (14) days
prior to the scheduled hearing date on the Disclosure Statement.

Under the Plan, Class 3 - Unsecured Creditors are impaired. The
Debtor's unsecured creditors total approximately $3.37 million. Of
this amount, approximately $1.46 million is undisputed.  General
Unsecured Creditors will be paid $230,000 over the life of the Plan
in quarterly payments beginning on the 13th month after the
Effective Date of the Plan. The Debtor has litigation pending in
San Diego Superior Court against Jack in the Box and other named
defendants. The Debtor will apply 75% of its recovery in that case
to payment of the undisputed unsecured claims. The trial is set for
August 2019. Assuming the Debtor is successful, this would add
another $187,500 in funds for payment of the Class 3 Unsecured
Creditors with undisputed claims. The amount available for payment
on these undisputed claims would then be $417,500. This equates to
about 29% of the undisputed unsecured claims or about 12% of the
total unsecured claims. The Debtor is hopeful it can have the
disputed claims removed from the creditor pool before payments
under the plan due the unsecured creditors commences.

Class 1(a) - RDY Holdings, LLC are impaired with monthly payment of
$600. The Debtor and RDY Holdings, LLC have agreed that RDY has a
secured claim of $35,000 which will be paid in full over the course
of the Plan.  The Debtor will pay $35,000 in full over 60 months (5
years).  RDY will retain its lien until paid in full.

Class 1(b) - YesLender LLC are impaired with monthly payment of
$1109. For purposes of the Plan, YesLender LLC has a claim
allegedly secured by a second priority blanket lien on all assets
of the Debtor as of the petition date. The claim amount is $55,583,
less payments made during the case of $12,000 plus postpetition
interest and reasonable attorneys fees. The Debtor will pay the
allowed secured claim in full over 60 months (5 years). YesLender
will retain its lien until paid in full.

Class 1(c) - Yellowstone Capital West LLC are impaired with monthly
payment of $1,109. For purposes of the Plan, Yellowstone Capital
West LLC has a claim allegedly secured by a third priority blanket
lien on all assets of the Debtor as of the petition date. The
allowed secured claim amount is $54,000 estimated by the Debtor.
The Debtor will pay the allowed secured claim in full over 60
months (5 years). Yellowstone will retain its lien until paid in
full.

Class 1(d) - Richmond Capital Group LLC are impaired with monthly
payment of $340. For purposes of the Plan, Richmond Capital Group
LLC has a claim allegedly secured by a fourth priority blanket lien
on all assets of the Debtor as of the petition date. The allowed
secured claim amount is $18,000 estimated by the Debtor. The Debtor
will pay the allowed secured claim in full over 60 months (5
years). Richmond will retain its lien until paid in full.

Class 1(e) - GTR Source LLC are impaired with monthly payment of
$340. For purposes of the Plan, GTR Source LLC has a claim
allegedly secured by a fifth priority blanket lien on all assets of
the Debtor as of the petition date. The allowed secured claim
amount is $18,000 estimated by the Debtor. The Debtor will pay the
allowed secured claim in full over 60 months (5 years). GTR Source
will retain its lien until paid in full.

Class 2 - Priority Unsecured Claims. The Debtor believes the only
creditor in this class is United Healthcare with a claim of $474
which will be paid in full on the Effective Date believed to be May
1, 2019.

Class 4 - Shareholder's Interest. The shareholders shall retain
their ownership interest in the Debtor.

The Debtor will fund the Plan from its income over the next five
years and from a $50,000 investment from the Debtor's
shareholders.

A full-text copy of the First Amended Disclosure Statement dated
April 8, 2019, is available at https://tinyurl.com/y5dos6gl from
PacerMonitor.com at no charge.

Attorneys for the Debtor are M. Jonathan Hayes, Esq., Matthew D.
Resnik, Esq., and Roksana D. Moradi-Brovia, Esq., at Resnik Hayes
Moradi LLP, in Encino, California.

                      About DDC Group

DDC Group, Inc., is a full-service general contractor in Los
Angeles, California, specializing in expedited development service
for restaurants & retailers.  DDC Group filed a Chapter 11 petition
(Bankr. C.D. Cal. Case No. 18-17029) on June 18, 2018.  In the
petition signed by Slava Borisov, president, the Debtor estimated
$0 to $50,000 in assets and $1 million to $10 million in
liabilities.  The case is assigned to Judge Sheri Bluebond.  M
Jonathan Hayes, Esq., of Simon Resnik Hayes LLP, is the Debtor's
counsel.


DESERT RIBS: Taps Michael W. Carmel as Legal Counsel
----------------------------------------------------
Desert Ribs LLC received approval from the U.S. Bankruptcy Court
for the District of Arizona to hire Michael W. Carmel, Ltd., as its
legal counsel.

The firm will advise the company and its affiliates of their powers
and duties under the Bankruptcy Code, and will provide other legal
services in connection with their Chapter 11 cases.

The firm will charge $600 per hour for the services of its attorney
and $135 per hour for paralegal services.

Carmel neither holds nor represents any interest adverse to the
Debtors and their estates, according to court filings.

The firm can be reached through:

     Michael W. Carmel, Esq.
     Michael W. Carmel, Ltd.
     80 E. Columbus Ave
     Phoenix, AZ 85012-4965
     Tel: 602-264-4965
     Fax: 602-277-0144
     Email: michael@mcarmellaw.com

                         About Desert Ribs

Desert Ribs LLC and its subsidiaries are privately held companies
in the restaurant business.

Desert Ribs (Case No. 19-04003) and its subsidiaries, Famous
Charlie LLC (Case No. 19-04004), Famous Freddie LLC (Case No.
19-04006), Famous George LLC (Case No. 19-04009) and Famous Gracie
LLC (Case No. 19-04010), sought Chapter 11 protection in the U.S.
Bankruptcy Court for the District of Arizona on April 5, 2019.  The
cases are jointly administered.

At the time of the filing, Desert Ribs estimated assets and
liabilities of between $1 million and $10 million.  

The cases are assigned to Judge Brenda K. Martin.

Michael W. Carmel, Ltd., is the Debtors' counsel.



DOMINION DIAMOND: Fitch Cuts LT IDR to 'B+', Outlook Negative
-------------------------------------------------------------
Fitch Ratings has downgraded Dominion Diamond Mines ULC's (formerly
known as Northwest Acquisitions ULC) Long-Term Issuer Default
Rating to 'B+' from 'BB-'. The Rating Outlook has been revised to
Negative from Stable. In addition, Fitch has assigned Washington
Diamond Investments B.V. a 'B+' Long-Term IDR/Negative Outlook.

The Negative Rating Outlook reflects higher uncertainty around the
production profile post-2022, which could heighten refinancing
risk. The Outlook could be stabilized after Fitch's assessment of
the updated life of mine (LOM) plan and more clarity on DD's
strategy to address the 2022 notes.

The rating reflects Dominion Diamond Mines ULC's (DD) modest size,
concentrated operations, weaker than expected financial performance
in 2018, expectations for a material reduction in production in
2019 and the possibility DD may breach its financial covenant in
2019. The rating also reflects DD's low financial leverage and
expectations of an improved FCF profile after 2019 driven by cost
reduction efforts and a significant reduction in capital spending.
However, this is partially offset by Fitch's view that DD will
likely have to increase capex to advance pipes in development to
production and extend the LOM plan.

KEY RATING DRIVERS

Production Underperformance: Lower grade and increased costs at
both Ekati and Diavik resulted in EBITDA substantially lower in
2018 compared with expectations. Additionally, 2019 production is
expected to be around 40% less than previously expected. Fitch
believes the low point in production will result in negative FCF
and could result in DD violating its financial covenant in 2019.
Fitch believes DD will likely seek and achieve covenant relief for
the period and forecasts net leverage, after a peak in 2019, to
decline and be in compliance with covenants over the remainder of
the forecast period.

Significant Decisions in 2019: DD is due to complete a number of
key projects in 2019 that should inform the Board's decision on an
updated LOM plan, which is expected in December. The completion of
the Fox underground and Jay optimization studies and continued
assessment of alternative mining techniques at Point Lake is
expected to result in a recommendation to the Board on the optimum
sequencing and production schedule by the end of 2019. Fitch views
advancement on these decisions as imperative to extend the life of
mine post-2022 when currently active kimberlite pipes at Diavik and
Ekati are expected to be largely exhausted.

Jay Construction Postponed: On April 4, 2018, DD announced that the
Jay optimization study was ongoing with a focus on identifying
further opportunities to reduce capital and operating costs and
optimize the construction schedule, which resulted in the
postponement of the 2018 work program. Development capex is now
projected to be less than $500 million compared with $647 million
previously disclosed. Jay was previously expected to account for
the majority of Ekati's production mix post-2022. Given the
expected sharp decline in production at Ekati and Diavik post-2022,
Fitch views DD prioritizing advancing Jay, Fox Deep, or an
alternative, as crucial to have a plan in place for production
post-2022.

Shifting Production Mix: Sable successfully achieved first
production in 4Q'18 and is expected to ramp up over the next few
years. Operational processing of ore from the A-21 pipe commenced
in 4Q'18. Misery Main was fully mined in 2018 and now is in the
process of underground development and is expected to achieve
commercial production in 4Q FY 2019. Misery Deep and Sable are
expected to account for the majority of Ekati's production mix from
2020-2022.

Focus on Cost Reduction: Washington Companies has been focused on
reducing costs since their acquisition of Dominion Diamond. Key
cost savings initiatives in 2018 included the closing of its
Toronto sorting facility, headcount reduction at Ekati, mine site
service and transportation costs at Ekati, corporate headcount
reductions of approximately 20% and a simplified corporate
structure. DD reduced cash costs of production at Ekati by $30
million in 2018 and expects to achieve a further cost reduction in
2019 of approximately $50 million. DD's executive management team
is almost entirely new, somewhat increasing execution risk of
achieving goals laid out for 2019 on time.

Reduced Capital Spend: DD is focused on reducing costs and cash
flow generation to maintain liquidity for investment and debt
repayment. DD's updated capex projections are substantially lower
compared with prior projections, which included a significant
growth capex component associated with the Jay pipe. Although the
reduced capex results in an improved FCF profile, Fitch believes DD
will need to meaningfully increase capex in order to advance pipes
in development and extend the life of mine.
Conservative Capital Structure: DD has low financial leverage
despite Fitch's expectation of lower production and EBITDA in 2019.
Fitch believes DD's low leverage helps offset its modest size, the
unpredictability of diamond market prices and the higher
uncertainty around the production plan before the LOM plan is
updated. Reduced capex results in positive FCF after 2019; however,
Fitch believes DD will fall short of being able to fully repay the
notes at maturity based on the current five-year budget.

DERIVATION SUMMARY

DD compares favorably in terms of size, mineral reserves and
leverage metrics compared with Canadian-based diamond miner
Mountain Province Diamonds Inc. (B/Stable), although MPVD has
higher margins. DD is significantly smaller than Russian-based
leading global diamond producer PJSC Alrosa (BBB-/Stable). Alrosa
accounts for over 25% of global diamond production, has low cash
costs, robust margins and very conservative financial leverage. DD
has similar margins and comparable leverage metrics; however, it is
larger and has less country risk than gold miner Gran Colombia
(B/Stable). First Quantum (B/Stable) is considerably larger than DD
in terms of EBITDA although First Quantum has significantly higher
leverage and generates the majority of its revenue in Zambia, which
Fitch views as a challenging operating environment for miners. Iron
pellet producer Ferrexpo (B+/Stable) is larger, has better margins
and has favorable leverage metrics compared with DD however
Ferrexpo's credit quality is constrained by the operating
environment in Ukraine.

KEY ASSUMPTIONS

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

  -- Stable diamond price environment;

  -- Production consistent with the current five-year budget;

  -- Capex consistent with the current five-year budget;

  -- No production or capex associated with pipes in development
included in the forecast;

  -- No dividends.

The recovery analysis assumes that DD would be considered a going
concern in bankruptcy and that the company would be reorganized
rather than liquidated.

Assumptions for the going-concern (GC) approach:

Fitch's assumed a bankruptcy scenario exit GC EBITDA of $175
million. The EBITDA estimate is reflective of variable production
levels that tend to fluctuate with kimberlite mix shifts and could
potentially heighten refinancing risk. Fitch assumes debt funding
in a credit-conscious manner consistent with the cash flow
generating ability of the underlying kimberlite mix.

Fitch applies EBITDA multiples that generally range from 4.0x-6.0x
for mining issuers given the cyclical nature of commodity prices.
DD's 4.0x multiple is at the low end of the range reflecting its
concentration in a single commodity. The 4.0x multiple compares
with Washington Companies' purchase multiple of DD of roughly 4.2x
LTM July 31, 2017 EBITDA of $287 million.

Fitch applies a going concern EBITDA of $175 million and a 4.0x
enterprise value multiple, which results in an enterprise value of
$700 million and compares closely with Fitch's estimated
liquidation value. Fitch has assumed the revolving credit facility
is fully drawn and a 10% administrative claim in the recovery
analysis. Fitch's recovery analysis results in a 100% recovery for
the 1st lien senior secured revolver ('BB+'/'RR1') and a 78%
recovery for the 2nd lien senior secured notes ('BB'/'RR2').

RATING SENSITIVITIES

Fitch could stabilize the Outlook upon assessment of the updated
LOM plan and more clarity on DD's strategy to address the 2022
notes.

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

  -- EBITDAR margins sustained at or above 35%;

  -- Comfort around the production profile post-2022;

  -- Expectation of stronger than expected FCF generation driven by
a combination of higher prices, improved carat recoveries, higher
grade and/or further cost reduction;

  -- Expectation of FFO net leverage below 1.5x by 2021.

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

  -- Delay or uncertainty around completion of a revised LOM plan
by the end of 2019;

  -- EBITDAR margin sustained below 28%;

  -- Carat recoveries significantly below expectations;

  -- A combination of lower diamond prices, lower production,
higher costs and/or lower grade resulting in FCF significantly
below expectations.

LIQUIDITY

Adequate Liquidity: As of Dec. 31, 2018, DD had cash and cash
equivalents of $96.6 million and $143.7 million available under its
senior secured revolving credit facility. Fitch expects the current
production plan along with reduced capex to result in positive FCF
generation after 2019. However, Fitch believes capex will likely be
higher compared with the current 5 year budget in order to advance
pipes in development to production, which would impact FCF
generation. An updated LOM plan is expected by the end of 2019 and
should inform an updated capex forecast. Fitch believes DD will
likely need to extend the revolver, issue new notes or obtain an
equity injection from Washington Companies in order to fully repay
the existing notes due 2022.

FULL LIST OF RATING ACTIONS

Fitch has downgraded the following:

Dominion Diamond Mines ULC
  -- Long-Term IDR to 'B+' from 'BB-'.

The Rating Outlook has been revised to Negative from Stable.

Fitch has affirmed the following:

  -- First lien senior secured revolving credit facility at
'BB+'/'RR1';

  -- Second lien senior secured notes at 'BB'/'RR2'.

Fitch has assigned the following:

Washington Diamond Investments B.V.

  -- Long-Term IDR 'B+'.

The Rating Outlook is Negative.


DR. SHABNAM QASIM: PCO Files 3rd Report
---------------------------------------
Greer A. Smith, the patient care ombudsman appointed for Dr.
Shabnam Qasim MD PA filed the third report before the U.S.
Bankruptcy Court for the Northern District of Texas.

The third report focuses on the information obtained in an
interview with Dr. Shabnam Qasim, her office administrator at the
time Feliza, direct observations and phone calls to past employees
and current patients of the medical practice.

The PCO was informed through a conversation with Feliza and Dr.
Qasim, that the process for the documentation, submission, and
recovery of revenue from the clinical aspect of the practice
continue to improve and become more reliable and consistent.

Further, the PCO reported that the phone calls of the patients were
now being answered promptly. Most of those patients canvassed
stated that their medications and lab orders had been transmitted
in a timelier manner than in the past and that they had not
experienced appointment cancellations.

Overall, PCO reported that the areas of concern since the first
visit have had moderate improvements in all areas, which revealed
the dedicated and serious mindset of operating a medical practice.
Though there are still areas for improvement, the PCO noted that in
the medical practice management world, there will still be
continued changes in different policies, processes, and protocols.

The PCO noted that the office is heading in a positive direction
and patient satisfaction has greatly improved. It is obvious from
the more relaxed, and calm appearance of Dr. Qasim that she is at a
better place mentally, which is a motivational source to continue
to turn things around both personally and financially.

A full-text copy of the Third Quality of Care Report is available
for free at https://tinyurl.com/yya2b28f from PacerMonitor.com at
no charge.

        About Dr. Shabnam Qasim MD PA

Dr. Shabnam Qasim MD PA sought Chapter 11 protection (Bankr. N.D.
Tex. Case No. 18-43088) on Aug. 7, 2018, estimating less than $1
million in assets and liabilities.  Craig Douglas Davis, Esq., at
Davis, Ermis & Roberts, P.C., serves as counsel to the Debtor.


DUMITRU MEDICAL: Deborah Fish Appointed as Successor PCO
--------------------------------------------------------
Daniel M. McDermott, the United States Trustee for Region 9,
appointed Deborah L. Fish as the Successor Patient Care Ombudsman
for Dumitru Medical Center PC.

The appointment of a successor PCO was necessitated by the passing
of the originally appointed Patient Care Ombudsman, Charles Taunt.

Deborah Fish can be reached at:

     Deborah L. Fish
     535 Griswold Street, Suite 2600
     Detroit, MI 48226

       About Dumitru Medical Center

Dumitru Medical Center PC, Doctor One House Call Physicians PC and
their president Dumitru O. Sandulescu sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Mich. Lead Case No.
18-52936) on Sept. 21, 2018.

In the petitions signed by Mr. Sandulescu, DMC, estimated assets of
less than $1 million and liabilities of less than $1 million.
Doctor One estimated less than $1 million in assets and less than
$500,000 in liabilities.   

The Debtors tapped Lynn M. Brimer, Esq., at Strobl & Sharp, PC, as
their bankruptcy counsel.  Howard Hanna R.E.S. is the Debtors' real
estate broker.


E Z MAILING: Involuntary Chapter 11 Case Summary
------------------------------------------------
Alleged Debtor:         E Z Mailing Services Inc.
                           dba E Z Worldwide Express
                           dba United Business Experts
                        669 Division Street
                        Elizabeth, NJ 07201

Business Description:   E Z Mailing Services Inc. provides courier
                        and delivery services.

Involuntary Chapter 11
Petition Date:          April 18, 2019

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

Case Number:            19-17900

Judge:                  Hon. Stacey L. Meisel

Petitioners' Counsel:   Scott H. Bernstein, Esq.
                        STRADLEY RONON STEVENS & YOUNG, LLP
                        100 Park Avenue, Ste 2000
                        New York, NY 10017
                        Tel: 212-812-4132
                        Fax: 646-682-7180
                        E-mail: sbernstein@stradley.com

List of Petitioning Creditors:

  Petitioner                  Nature of Claim  Claim Amount
  ----------                  ---------------  ------------
Change Capital Holdings I, LLC   Agreement         $100,000
600 Madison Avenue
18th Floor
New York, NY 10022

Azadian Group LLC                Agreement         $100,000
600 Madison Avenue
18th Floor
New York, NY 10022

Christopher Carey                Agreement         $880,867
2 N. 6th Place
Unit 30E
Brooklyn, NY 11249

A full-text copy of the Involuntary Petition is available for free
at:
http://bankrupt.com/misc/njb19-17900.pdf


ECTOR HOSPITAL: Fitch Affirms BB+ Rating on 2010B Bonds
-------------------------------------------------------
Fitch Ratings has affirmed the 'BB+' ratings on the following Ector
County Hospital District, TX (ECHD) d/b/a Medical Center Health
System (TX) bonds:

  -- $44.65 million hospital revenue refunding bonds,
     series 2010B (Build America Bonds - Direct Payment);

  -- Issuer Default Rating (IDR).

The Rating Outlook is Stable.

SECURITY

The bonds are secured by a pledge of revenues from ECHD, which
specifically excludes ad valorem and local sales tax receipts.

ANALYTICAL CONCLUSION

The affirmation of the 'BB+' rating primarily reflects ECHD's weak
net leverage position under a stressed scenario in context of its
midrange revenue defensibility and operating risk assessments. The
Stable Outlook reflects Fitch's expectation that ECHD will continue
to improve its recent weaker operating profitability levels to
historical levels over the medium term while maintaining a net
leverage profile commensurate with its current rating level.
Additionally, the Outlook incorporates the expectation of steady
growth in the local economy and tax revenues over the medium term.

KEY RATING DRIVERS

Revenue Defensibility: 'bbb'; Leading Market Share in Energy Driven
Economy

ECHD's midrange defensibility primarily reflects its leading market
share in its primary service area of Ector County, which remains
vulnerable to energy price volatility. Additionally, ECHD is a
taxing district that collects a 0.75% sales tax and levies ad
valorem taxes up to $0.15 (currently at $0.1127) on each $100
taxable assessed valuation (TAV) to support operations. While
ECHD's available ad valorem taxing margin provides limited
financial cushion against unexpected operating volatility, Fitch
does not view the taxing margin as strong enough for a higher
revenue defensibility assessment.

Operating Risk: 'bbb'; Improving Operational Performance

ECHD's midrange operating risk assessment reflects the improvement
in operating profitability levels in fiscal 2018 and the five-month
interim period following recent operating, efficiency, and revenue
cycle improvement initiatives enacted by management. The assessment
also incorporates the expectation that ECHD will incrementally
improve its profitability levels to historical levels over the
medium term as it continues to benefit from operational improvement
initiatives and further growth in its local economy and tax base.

Financial Profile: 'bb'; Weak Net Leverage Position Under a Stress
Scenario

In fiscal 2018, ECHD had a weak 56 days cash on hand (DCOH), 30%
cash to adjusted debt, and 4.4x net adjusted debt to adjusted
EBITDA (NADAE). ECHD's weak net leverage position and limited cash
reserves provide minimal financial flexibility under a stressed
scenario. While it is expected that ECHD will continue to improve
its profitability and cash reserves over the medium term, Fitch
expects ECHD to maintain a net leverage position consistent with a
'bb' financial profile under a stressed scenario. Fitch's net
leverage metrics include a higher pension liability obligation
following an adjustment, per criteria, of ECHD's discount rate to
6% from 8.1%.

Asymmetric Additional Risk Considerations

No asymmetric risk factors affected this rating determination.

RATING SENSITIVITIES

FURTHER IMPROVEMENT IN OPERATIONS AND NET LEVERAGE: If Ector County
Hospital District continues to improve and maintain its operating
EBITDA levels above 9%, while further strengthening its cash
reserves and moderating its debt position, there could be upward
rating movement over the medium term. Conversely, while not
expected, operational deterioration which results in balance sheet
erosion would pressure the rating.

CREDIT PROFILE

Ector County Hospital District (d/b/a Medical Center Health System)
owns and operates a 402 licensed bed acute care facility located in
Odessa, Texas. With 349 beds in service, the hospital remains the
largest hospital in the county and provides acute patient care
services, inpatient rehabilitation services, outpatient diagnostic
imaging, and radiation oncology services. Additionally, ECHD serves
as a teaching hospital for Texas Tech University Health Sciences
Center. In fiscal 2018, ECHD had total revenues of $379 million
which includes approximately $70 million in tax revenues, in the
form of both sales and property taxes.

Revenue Defensibility

ECHD's payor mix remained somewhat weak in fiscal 2018 as self-pay
and Medicaid comprised approximately 28.6% of gross revenues. This
remains marginally higher than fiscal 2017 levels of a combined
25.1% of gross revenues, reflecting a 4% increase in ECHD's
self-pay exposure year over year. Management attributes the growth
in self-pay to an influx of uninsured new workers in the area
following the recent boom in oil production in the region. Despite
the recent increase in self-pay, ECHD does not expect its payor mix
to continue to deteriorate. In addition to Medicaid and self-pay,
Medicare and commercial payors accounted for approximately 37% and
29%, respectively, of gross fiscal 2018 revenues. Due to its
exposure to indigent patients and high uncompensated care costs,
ECHD received approximately $39 million in supplemental funding
(Medicaid DSH, UC Pool, and DSRIP) in fiscal 2018.

ECHD remains a taxing district that has the authority to collect a
0.75% sales tax and to levy ad valorem taxes up to $0.15 on each
$100 of TAV for the purpose of supporting operations. The ECHD tax
base is coterminous with that of Ector County. The district's TAV
and sales taxes realized a 10-year compound annual growth rates
(CAGR) of 4.1% and 8.8%, respectively, through 2018. In fiscal
2018, ECHD recognized approximately $54 million in sales taxes and
$16 million in property tax revenues to support operations, which
combined accounted for 18.3% of ECHD's total revenues. ECHD has the
independent legal ability and a demonstrated willingness to adjust
its ad valorem maintenance and operations (M&O) tax rate, but the
district does not have the ability to adjust its 0.75% sales tax
rate.

The district currently levies $0.1127 per $100 of TAV, all of which
is used for operations and support of indigent care. While the
district has the ability to levy up to $0.15, if a proposed tax
rate results in an 8% year-over-year M&O levy increase (adjusted
for removal of new properties), the proposed tax rate increase may
be subject to election if petitioned by voters. Fitch estimates
that the district's tax rate capacity provides up to $5.3 million
of additional revenue based on the current TAV and tax levy. While
this additional taxing capacity provides ECHD with limited
financial cushion against unexpected operating volatility, it is
not viewed by Fitch to be strong enough to support revenue
defensibility higher than 'bbb' or midrange.

ECHD's Medical Center Hospital is the largest hospital in the
county, a referral center for the 17-county Permian Basin region,
and a teaching hospital for Texas Tech University's Health Services
Center. The district's 65% primary service area market share is
approximately twice that of the next competitor, Odessa Regional
Medical Center. The district provides outpatient services through
its network of facilities, clinics and specialty centers. The
hospital's affiliated entity, Medical Center Hospital Professional
Care (ProCare) employs hospital-based and clinic-based providers.
Overall, hospital volumes continued to improve in fiscal 2018 as
inpatient admissions increased 3.1%, births increased 12%, and
emergency department volumes 7.6% year over year. Fitch expects
ECHD's leading market share to continue as the organization
continues to expand its relationship with Texas Tech, enhances its
employed physician base, and strategically expands certain key
services lines, including neurosurgery.

Ector County resides in the Permian Basin, the largest oil
producing region in the U.S. The county's five-year population
growth, median household income, and poverty rates all remain
favorable compared to state and national averages, reflecting an
expansionary cycle in the oil-rich Permian Basin. However, Fitch
considers the economy's exposure to energy price volatility a
credit weakness, particularly because of ECHD's reliance on sales
and property taxes to support operations. Fitch believes the high
exposure to energy price volatility could allow for a drastic shift
in ECHD's payor mix or revenue base in a short period of time,
which was confirmed during fiscal 2016 when ECHD's tax revenues
fell 20% unexpectedly year-over-year.

Operating Risk

ECHD has historically produced strong profitability levels as
evidenced by the average 9.9% operating EBITDA and 10.5% EBITDA
margins averaged during fiscal years 2012-2014. However, beginning
in fiscal 2015, ECHD's operations have steadily deteriorated
year-over-year to a low point in fiscal 2017 of a negative 2.3%
operating EBITDA and negative 1.6% EBITDA. Fitch attributes ECHD's
rapid decline in profitability during this time period to
increasing staffing costs associated with growth and expansion, a
substantial and unexpected reduction in sales tax revenues due to a
decline in the cyclical oil and gas industry, and increased costs
and revenue cycle disruptions following a Cerner electronic medical
record (EMR) conversion in fiscal 2017.

Following some senior management turnover in fiscal 2018, ECHD has
enacted various operational and revenue cycle improvements.
Beginning in fiscal 2018, ECHD management has improved physician
productivity, implemented operational efficiencies, and improved
clinical documentation and made coding improvements by outsourcing
its information technology department to Cerner. These ongoing
initiatives, coupled with sizeable growth in tax revenues from an
expanding local economy, have supported strong improvements in
ECHD's profitability levels since fiscal 2017. In fiscal 2018, ECHD
improved its operating EBITDA and EBITDA margins to 5.4% and 6%,
respectively. Furthermore, ECHD has continued to demonstrate
improvements through the five-month interim period (ending Feb. 28,
2019) as evidenced by its operating EBITDA and EBITDA margins of
7.5% and 8.2%, respectively. In fiscal 2018, ECHD recorded
approximately $70 million in total tax revenues, which is
approximately 73% higher than the $40 million it recorded in fiscal
2016. Fitch expects ECHD's operating profitability levels to
continue to improve near historical levels over the medium term as
it further benefits from the expanding local economy and recent
operational improvements.

Fitch believes ECHD's capital needs are high given its somewhat
high average age of plant of 13.6 years and its expectation to
spend at or below depreciation over the next five years. Following
healthy spending during fiscal years 2014 - 2017 of an average 134%
of depreciation, ECHD limited capital spending to just 25% of
depreciation in fiscal 2018. Lower capital outlays in fiscal 2018
reflects management's pullback of capital spending following recent
profitability and cash reserve deterioration. However, Fitch
expects management to gradually increase spending to depreciation
levels by 2021 as it incrementally improves its operating cash flow
levels and grows its unrestricted cash reserve levels.

Financial Profile

Following substantial balance sheet erosion during fiscal 2016 and
2017 due to weak profitability and elevated capital outlays for its
EMR conversion, ECHD has improved its unrestricted cash and
investments by 39% in fiscal 2018 to approximately $56 million.
However, despite the improvement, ECHD produced a weak 29.6% cash
to adjusted debt and 4.4x NADAE in fiscal 2018. Per Fitch's
criteria, adjusted debt includes Fitch's adjusted net pension
liability of $155 million for ECHD in fiscal 2018. This liability
differs from the $16.4 million reported on ECHD's financial
statements due to Fitch's change in discount rate to 6% from ECHD's
8.1%. However, despite its weak net leverage position, Fitch
anticipates ECHD will continue to improve its net leverage metrics
in the coming years as its debt position moderates and its cash
reserves continue to grow following recent operational improvement
initiatives.

Fitch's base case incorporates the expectation that ECHD's revenue
growth will outpace expense growth over the next five years as the
district continues to benefit from its recent operational
improvement and further strengthening of the local economy,
including tax revenue support. Additionally, the base case assumes
that capital expenditures are approximately 60% of depreciation in
fiscal 2019 and slowly ramp up to 100% by fiscal 2021. Under these
assumptions, ECHD demonstrates the ability to incrementally improve
its operating profitability levels to historical levels over the
next five years, while continuing to grow cash reserves and
moderate its debt position. ECHD improves its cash to adjusted debt
to 90% and NADAE to 0.3x by year five of the base case.

Fitch's stress scenario assumes a standard stress to hospital
revenues beginning in year 1 and an additional stress to property
and sales tax revenues beginning in year 2, which reflects the
expected timing lag on tax revenue support following a stress
scenario. The stressed scenario assumes a slight reduction to
operating expenses in years 2 and 3, as well as a reduction in
routine capital spending, as management's likely response to an
economic downturn scenario. ECHD's investment portfolio does not
experience any decline due to its conservative investment practices
of all cash and fixed income investments. ECHD's thin liquidity
position and weak net leverage position afford minimal financial
flexibility under a stress scenario. Under the stressed scenario,
ECHD improves its respective cash to adjusted debt and NADAE to 69%
and 1.1x over the next five years, which is reflective a 'bb'
financial profile assessment.

Asymmetric Additional Risk Considerations

No asymmetric risk considerations affected this rating
determination.

The district's debt includes $44.6 million of fixed rate revenue
bonds (series 2010B) maturing in 2035 and $8.8 million of bank
notes maturing by 2020. A Dec. 22, 2017 amendment to the district's
revenue bond indenture agreement modified the coverage calculation
ratio to exclude unusual, infrequent, or extraordinary non-cash
items, including non-cash items relating to GASB 68 and GASB 75.
The amendment also added a days cash on hand (DCOH) covenant
escalating progressively from 50 DCOH as of fiscal 2018, up to 80
DCOH as of fiscal 2020, and 100 DCOH thereafter. The district is in
compliance with their amended covenant requirements. However, an
inability to improve DCOH over the short term to meet the
escalating covenants may warrant an asymmetric risk consideration
in the future.


EIRINI INVESTMENTS: Taps Goodrich Postnikoff as Legal Counsel
-------------------------------------------------------------
Eirini Investments, LLC, received approval from the U.S. Bankruptcy
Court for the Northern District of Texas to hire Goodrich
Postnikoff & Associates, LLP, as its legal counsel.

The firm will advise the Debtor of its rights, powers and duties
under the Bankruptcy Code; assist in the negotiation and
documentation of financing agreements and related transactions;
monitor the Debtor's business and transactions; assist in the
preparation of a reorganization plan; and provide other legal
services in connection with its Chapter 11 case.

The firm's hourly rates are:

     Partners              $375 - $400
     Associates            $275 - $375
     Paraprofessionals          $90

The Debtor has agreed to pay Goodrich a $10,000 retainer.

Joseph Postnikoff, Esq., disclosed in court filings that the firm
and its members are "disinterested" as defined in Section 101(14)
of the Bankruptcy Code.

Goodrich can be reached through:

     Joseph F. Postnikoff, Esq.
     Goodrich Postnikoff & Associates, LLP
     801 Cherry Street, Suite 1010
     Fort Worth, TX 76102-5360
     Phone: 817-335-9400
     Fax: 817-335-9411
     Email: jpostnikoff@gpalaw.com

                     About Eirini Investments

Eirini Investments, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case No. 19-40974) on March 5,
2019.  At the time of the filing, the Debtor estimated assets of
less than $1 million and liabilities of less than $500,000.  The
case is assigned to Judge Mark X. Mullin.  Goodrich Postnikoff &
Associates, LLP, is the Debtor's legal counsel.



ENERGY TRANSFER: Fitch Rates Series E Preferred Equity Units 'BB'
-----------------------------------------------------------------
Fitch Ratings has assigned a 'BB' preferred equity rating to Energy
Transfer Operating, LP's (ETO) proposed offering of series E
fixed-to-floating rate cumulative perpetual preferred units.
Proceeds from the offering are expected to be used to repay
revolving credit facility borrowings and for general partnership
purposes. The series E units rank junior to all ETO's existing and
future indebtedness and senior to common equity. The series E units
rank on parity with ETO's existing series A through series D
preferred equity units. Fitch has applied 50% debt treatment in its
calculations of ETO's financial metrics with respect to the series
E equity units, as well as, all of ETO's outstanding preferred
equity.

KEY RATING DRIVERS

Size, Scale, Operational and Geographic Diversity: ETO's ratings
are reflective of the significant size, scale, operating and
geographic diversity that it currently possesses. Energy Transfer,
LP (ET), ETO's publicly traded parent company, is one of the
largest master limited partnerships (MLPs) and one of the largest
midstream companies in North America. ETO's geographic and business
line diversity provides a solid operating asset base and a decent
platform for growth within most of the major U.S. production
regions. The company owns and operates roughly 83,000 miles of
natural gas, crude and natural gas liquids (NGL) pipelines, 65
processing plants, treating plants and fractionators, significant
compression, and large scale, underground liquid and natural gas
storage. Additionally, ETO has remaining interests in Sunoco, LP
(SUN; BB/Stable) and USA Compression (USAC; BB-/Stable) and the
interest in ET LNG, which will provide additional cash flow
diversity and a relatively stable stream of cash flow to ETO and
ultimately to ET.

Exchange Alleviates Some Structural Concerns: A March 2019
completed note exchange effectively alleviates the structural
subordination ET debt had to ETO senior debt and hybrid securities.
Additionally, ET now wholly owns its main operating partnership
subsidiary ETO aligning the interests of ET and ETO. Fitch believes
the completed simplification and exchange is positive for ET's
credit profile, as the partnership alleviates the structural
subordination that ET's debt has to ETO's. Fitch currently rates ET
and ETO on a consolidated basis at ETO's current rating levels
under the belief that ETO will remain the main debt issuing entity
between ET and ETO. Relative to its Parent Subsidiary Ratings
Criteria, Fitch believes the legal, operating, and strategic ties
between a ET and ETO to be strong and believes that a consolidated
rating approach between the two is warranted. ETO debt remains
structurally subordinate to debt at some ifs operating
subsidiaries, notably, SUN and USAC. Fitch rates SUN and USAC based
on their individual standalone credit profile, without any explicit
linkage to ET or ETO's ratings.

Project Execution Risk: Fitch remains concerned by the fair amount
of execution, regulatory, and legal risks associated with ETO's
ongoing project backlog and recently completed projects currently
facing increased scrutiny or ongoing construction delays. Capital
spending is expected to remain high over the next two years as
ET/ETO continues to complete several large-scale projects including
Mariner East 2 (ME2), and Revolution Pipeline system, and cash
flows ramp up. Some regulatory uncertainty remains surrounding the
construction of several ETO projects, which has led to some delays,
but ET is successfully completing its projects with ME2 most
recently being completed in late December 2018. Additional concerns
include some commodity price and volumetric risks, potential
funding execution risk, and the potential for future interfamily
transactions. However, Fitch views an acquisition of outstanding
public SUN or USAC units by ETO as unlikely in the near to medium
term.

Relatively Stable Cash Flows: Fitch expects ETO to maintain a high
level of fee-based or hedged cash flow in excess of 75%. As ETO has
grown its asset base, the percentage of gross margin supported by
fee-based contracts has increased, with the partnership moving
towards being largely fee-based or hedged, due in part to new
projects coming online with heavy fee-based components.
Counterparty exposure is weighted toward investment-grade names.
Recently, ETO has benefited from favorable basis differentials
along its intrastate gas pipeline system in Texas allowing,
boosting 2018 EBITDA performance in that business segment, but this
is expected to be temporary as differentials normalize once
takeaway capacity comes online in the near to intermediate term.

Adequate Metrics: Fitch expects leverage at ET to be improved in
2019 at roughly 4.7x to 5.0x on a fully consolidated basis and
inclusive of 50% debt treatment for ETO's preferred equity. On an
ET/ETO only basis, so exclusive of SUN EBITDA and debt and USAC
EBITDA and debt, but inclusive distributions from SUN and USAC, and
exclusive of fully consolidated non-wholly owned joint venture
EBITDA and debt but inclusive of cash distributions from joint
ventures, Fitch expects leverage of between 5.0x and 5.2x for 2019,
with some improvement toward 4.5x-4.7x in 2020 and 2021 as projects
are completed and as capital spending moderates. Fitch also expects
ETO to possess a consolidated credit profile consistent with recent
history, its expectations for 'BBB-' midstream issuers, and
comparable large-scale midstream peers, and an improved
distribution coverage profile given the removal of its incentive
distribution burden.

Parent Subsidiary Rating Linkage:  Fitch has linked the Issuer
Default Ratings (IDRs) of ET and ETO to reflect the strong
operational, legal and strategic ties between the entities. Under
PSL Criteria, Fitch assesses ETO (the subsidiary) as having the
stronger stand-alone credit profile (SCP), given its structural
superiority to ET and ET's reliance on cash distributions from ETO
to ultimately service any ET obligations. Fitch views ET and ETO to
have strong operational and strategic ties and moderate legal ties
and as such has linked the IDRs of the entities.

DERIVATION SUMMARY

ETO's ratings reflect the size and scale of its operations, which
offer both business line diversity and geographic diversity, with
operations spanning most major domestic production basins. ET/ETO's
size and scale are consistent with Fitch's expectations for
investment grade midstream issuers. The ratings consider ET/ETO's
high adjusted leverage, relative to 'BBB-' rated midstream
entities. Fitch typically looks for leverage (as defined as total
debt with equity credit/adjusted EBITDA) below 5.0x on a sustained
basis for large, diversified midstream issuers at the 'BBB-' rating
level. ETO's revenue profile is supported by long-term contracts
with a heavy fixed fee component, consistent with its investment
grade rating.

The ratings consider that ET's consolidated leverage (debt/adjusted
EBITDA) is currently high, relative to 'BBB-' rated midstream
entities, which typically have leverage (debt/EBITDA) between 4.0x
and 5.0x depending on their asset base, size, scale and cash flow
profile. A consolidated ET is one of the largest, diversified MLPs.
The company's assets span most of the major U.S. oil and gas
production regions, similar to the higher rated, MLP Enterprise
Products Partners, L.P. (EPD). Fitch rates EPD's operating
subsidiary Enterprise Products Operating Company LLC 'BBB+'/Outlook
Stable. Fitch expects ET/ETO's leverage metrics (debt/EBITDA) to
improve to below 5.0x in early 2020 and beyond, though slightly
higher than that in 2019, after adjusting for 50% debt credit to
ETO's preferred stock and junior subordinated notes and
deconsolidating the fully consolidated Bakken Pipeline of which ETO
is a 30% owner. These levels are in line with similarly rated
large-scale midstream peers like Kinder Morgan, Inc. (KMI;
BBB-/Stable; 2018 YE leverage of 4.8x), and Williams Companies
(WMB; BBB-/Positive; 2018 YE leverage of approximately 4.9x), but
slightly worse than Enterprise Products Partners, LP (EPD; Fitch
rates EPD's debt issuing operating subsidiary BBB+/Stable; EPD
leverage at 2018 YE of 3.5x). Fitch notes that it expects KMI
leverage to be closer to 4.5x following the sale of its
TransMountain Pipeline project and the application of those
proceeds to debt reduction.

KEY ASSUMPTIONS

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

  -- 2019 Capital spending consistent with management public
     guidance. 2020-2022 growth capital spending of between
     $12.5 billion and $15 billion cumulatively.

  -- Growth spending funding needs met with debt issuance and
     preferred equity; minimal common equity issued in forecast
     period with minimal amounts of common equity issued annually
     associated with DRIP program.

  -- 2019 distribution of $1.22 per unit with modest growth in
     2020 and beyond focused on maintain robust distribution
     coverage.

  -- USAC and SUN forecasts consistent with Fitch base case
     forecasts for USAC (May 2018) and SUN (January 2019).

RATING SENSITIVITIES

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

  -- A material improvement in credit metrics with the
     partnership's adjusted leverage as defined below at between
     4.0x and 4.3x on a sustained basis along with distribution
     coverage above 1.2x.

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

  -- Inability or unwillingness to fund growth capital needs at
     ETO in a credit friendly manner.

  -- ET Leverage (total ET/ETO debt with equity credit/adjusted
     EBITDA excluding USAC and SUN debt and EBITDA but including
     distributions from USAC and SUN; and deconsolidating debt and

     EBITDA from the Bakken Pipeline, but including the ET's
     proportional share of Bakken Pipeline expected distributions;

     as well as deconsolidating EBITDA from consolidated but not
     wholly owned joint ventures, but inclusive of ET's
proportional
     share of cash distributions from those entities) is expected
     to be just above 5.0x in 2019. Should leverage be expected to
be
     above 5.0x on sustained basis in 2020 and beyond it could
lead
     to a negative rating action.

  -- Increasing commodity exposure above 30% at the ETO legacy
     operating segments could lead to a negative rating action
     if leverage were not appropriately decreased to account for
     increased earnings and cash flow volatility.

LIQUIDITY

Liquidity Adequate: Fitch expects ETO's liquidity to remain
adequate. As of Dec. 31, 2018, ETO had roughly $3.69 billion in
outstanding borrowings under its credit facility, with availability
at yearend of roughly $1.31 billion. Additionally, ETO has full
availability under a $1.0 billion 364-day credit facility which
matures on Nov. 19, 2019. On Oct. 19, 2018, ETO's five-year credit
facility was amended to increase the borrowing capacity by $1.0
billion, to $5.0 billion total and to extend the maturity to
December 2023. ETO's credit facilities contain various covenants
including limitations on the creation of indebtedness and liens,
and related to the operation and conduct business. The credit
facilities also limit ETO on a rolling four-quarter basis, to a
maximum consolidated funded indebtedness to consolidated EBITDA
ratio, as defined in the underlying credit agreements, of 5.0x,
which can generally be increased to 5.5x during a specified
acquisition period. ETO was in compliance with its covenants as of
Dec. 31, 2018 and Fitch expects continued covenant compliance in
the near to intermediate term.

Maturities should be manageable on a consolidated basis, with no
one year having too high of a maturity wall, but with a consistent
need to access debt markets for refinancing. Proceeds from ETO's
recent offering of $4.0 billion in senior unsecured notes were used
to address ET's term loan, which was paid in full and terminated,
2019 maturities at ETO and PEPL and to free up revolver
availability in the near term.

FULL LIST OF RATING ACTIONS

Fitch has assigned the following rating:

Energy Transfer Operating, LP

  -- Series E preferred equity units 'BB'.


ENERGY TRANSFER: Moody's Rates New Series E Preferred Stock 'Ba2'
-----------------------------------------------------------------
Moody's Investors Service assigned a Ba2 rating to Energy Transfer
Operating, L.P.'s proposed Series E Fixed-to-Floating Cumulative
Redeemable Perpetual Preferred Units. Its Baa3 senior unsecured
rating, its Ba1 junior subordinated notes rating and its P-3
commercial paper rating are not affected by this action. The rating
outlook is stable.

Assignments:

Issuer: Energy Transfer Operating, L.P.

Series E Preferred Stock, Assigned Ba2

RATINGS RATIONALE

The proposed preferred units are rated Ba2, two notches below ETO's
Baa3 senior unsecured rating, reflecting their subordination to all
of the company's existing senior unsecured notes, its unsecured
revolving credit facility and its subordinated notes. Moody's
attributes 50% equity credit to the preferred units.

ETO's Baa3 rating is supported by its very large consolidated and
geographically diversified asset base comprised of crude oil,
natural gas and natural gas liquids (NGL) pipeline services and
storage, and largely fee-based natural gas midstream gathering and
processing (G&P) operations. ETO also holds the general partnership
(GP) interest and common units in Sunoco LP (SUN, Ba3 stable) and
USA Compression Partners, LP (USAC, B1 stable), further adding to
overall operational diversity. An array of ongoing project
investments will add incrementally to EBITDA, including the
completed Rover natural gas pipeline and Mariner East 2 (ME2) NGLs
pipeline, leading in aggregate to a modest improvement in the
trajectory of debt leverage in 2019.

ETO ranks among the largest publicly traded midstream master
limited partnerships (MLP) in terms of its size, geographic reach
and the operational diversification of its businesses. Its $88
billion year-end midstream asset base generates a largely fee-based
cash flow stream, reporting $9.5 billion of aggregate segment
EBITDA. Debt leverage (proportionately consolidated) improved
modestly in 2018, dropping to 5.5x (approximately 5x on a fourth
quarter run-rate basis), although leverage remains high for its
Baa3 rating. While year-end debt levels increased 9.5%,
consolidated segment EBITDA grew 30%, contributing to the decline
in leverage, despite delays and cost increases affecting the
construction of several large projects. ETO has guided to a 13%
increase in 2019's EBITDA; at the mid-point of a $10.6 to $10.8
billion range Moody's calculates a further improvement in 2019's
debt/EBITDA to about 5x, proportionately consolidated. While ETO
has an array of sources of additional potential liquidity available
to it to alleviate balance sheet leverage, its emphasis remains on
achieving EBITDA growth through the completion of new project
investments.

The rating outlook is stable based on Moody's expectation that
consolidated Debt/EBITDA will decline to slightly below 5x in 2019,
with pro forma distribution coverage increasing into a 1.6x to 1.8x
range. The rating could be upgraded if the company reduces
consolidated Debt/EBITDA below 4.5x with strong distribution
coverage remaining in the 1.8x area. Should Debt/EBITDA remain
above 5x, the Baa3 rating could be downgraded.

The principal methodology used in this rating was Midstream Energy
published in December 2018.

Energy Transfer Operating, L.P., headquartered in Dallas, Texas,
owns and operates a broad array of midstream energy assets. ETOP is
controlled by Energy Transfer LP, which holds the general partner
interest in ETOP. ET is also a publicly traded MLP.


ENERGY TRANSFER: S&P Rates Series E Preferred Units 'BB'
--------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue-level rating to Energy
Transfer Operating L.P.'s (ETO) series E fixed- to floating-rate
cumulative redeemable perpetual preferred units.

S&P has assigned intermediate equity credit (50%) to the issuance
because it believes that it meets its requirements for permanence,
subordination, and deferability. The partnership intends to use the
net proceeds to repay amounts outstanding under its revolving
credit facility and for general partnership purposes.

Dallas-based ETO is one of the largest master limited partnerships
in the U.S. Its primary operating activities consist of natural gas
transportation and storage and liquids operations, including
natural gas liquids logistics and fractionation and crude oil
transportation. The issuer credit rating on the company is 'BBB-'
and the outlook is stable.

  Ratings List
  Energy Transfer Operating LP

  Issuer Credit Rating                BBB-/Stable/A-3
  
  New Rating
  Energy Transfer Operating LP

   Preferred Stock
   Series E Cumulative Redeemable
     Perpetual Preferred Units    BB


EXPEDIA GROUP: Moody's Reviews Ba1 Sr. Unsec. Rating for Upgrade
----------------------------------------------------------------
Moody's Investors Service placed the credit ratings of Expedia
Group, Inc. under review for upgrade, including the Ba1 senior
unsecured ratings. This rating action follows Expedia's
announcement that it plans to acquire Liberty Expedia Holdings,
Inc.

RATINGS RATIONALE

The acquisition of Liberty Expedia is credit positive for Expedia
Group as it would eliminate the overhang associated with John
Malone's possible control while reducing Barry Diller's effective
voting control to 29% at the time of the close from about 55%.
Under the proposed purchase, Expedia Group would acquire Liberty
Expedia's ownership stake of 23.9 million shares of Expedia Group
(consisting of 11.1 million shares of Expedia Group common stock
and 12.8 million shares of Expedia Group Class B common stock). At
the time of close, the former holders of Liberty Expedia common
stock will own Expedia common stock representing about 14% of the
total outstanding common stock of Expedia.

Expedia Group expects the transaction to close in the summer of
2019, subject to customary closing conditions, including approval
by holders of a majority of the voting power of the Liberty Expedia
common stock. Already John Malone, the Chairman of the Board of
Liberty Expedia, and his wife have agreed to vote shares owned by
them, representing about 32% of the voting power of Liberty
Expedia, in favor of the transaction. Upon closing, all Liberty
Expedia nominees to the Expedia Group board of directors would step
down. As part of the purchase, Expedia Group would assume $400
million of debt which would add about 0.2x to current leverage of
2.2x adjusted debt to EBITDA as of December 31, 2018.

The outcome of the review will depend on Barry Diller's plans to
increase his share holdings and voting control in Expedia Group, as
well as Moody's view of Expedia's long term financial policies.
Under the new governance agreement, Diller will have rights to
increase his holdings in Class B common stock for a limited time,
subject to certain restrictions and circumstances.

Issuer: Expedia Group, Inc.

  Probability of Default Rating, Placed on Review for Upgrade,
currently Ba1-PD

  Corporate Family Rating, Placed on Review for Upgrade, currently
Ba1

  Senior Unsecured Gtd. Global Notes, Placed on Review for Upgrade,
currently Ba1

  Senior Unsecured Gtd. Euronotes, Placed on Review for Upgrade,
currently Ba1

  Senior Unsecured Gtd. Notes, Placed on Review for Upgrade,
currently Ba1

  Speculative Grade Liquidity Rating, Affirmed SGL-1

Outlook Actions:

Issuer: Expedia Group, Inc.

  Outlook, Changed To Rating Under Review From Stable

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

Expedia Group, Inc., with projected annual revenues of more than
$12 billion, is a leading online travel agency (OTA) with
properties which include Expedia.com, Hotwire.com, Hotels.com,
Egencia, trivago, Travelocity, Orbitz, and HomeAway.


FRESHSTART HOME: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Freshstart Home Solutions, LLC
        3820 Scadlock Ave.
        Sherman Oaks, CA 91403

Business Description: Freshstart Home Solutions, LLC
                      is a real estate company that owns in fee
                      simple eight singe-family homes in various
                      parts of California having an aggregate
                      current value of $12.2 million.

Chapter 11 Petition Date: April 18, 2019

Court: United States Bankruptcy Court
       Central District of California (San Fernando Valley)

Case No.: 19-10954

Judge: Hon. Martin R. Barash

Debtor's Counsel: Michael R. Totaro, Esq.
                  TOTARO & SHANAHAN
                  POB 789
                  Pacific Palisades, CA 90272
                  Tel: 310-573-0276
                  Fax: 310-496-1260
                  E-mail: Ocbkatty@aol.com

Total Assets: $14,418,487

Total Liabilities: $13,078,091

The petition was signed by Patrick Wong, managing member.

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

       http://bankrupt.com/misc/cacb19-10954.pdf

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
1. Brandon Hoang, APC              Unsecured Loan        $300,000
1792 Oreo Dr.
Costa Mesa, CA 92626

2. Kathy Vu                        Unsecured Loan        $219,000
22676 Malaga Way
Lake Forest, CA 92630

3. Peter and Mee Wong              Unsecured Loan        $200,000
59 Perita Dr.
Daly City, CA 94015

4. Kevin Cruz/Winston Hu           Unsecured Loan        $200,000
3924 Reston Court
South San Francisco, CA 94080

5. Angela Mark                     Unsecured Loan        $200,000
555 Alto Ave.
Half Moon Bay, CA 94019

6. Angela Mark                     Unsecured Loan        $200,000
555 Alto Ave.
Half Moon Bay, CA 94019

7. Chau Nguyen                     Unsecured Loan        $170,000
8271 Winterwood Ave.
Stanton, CA 90680

8. WAI Hung, LAO                   Unsecured Loan        $125,000
1540 Fulton Ave.
Monterry Park, CA 91755

9. Donna Jin/Carlos Miyahara       Unsecured Loan        $100,000
25230 Century Oaks Circle
Castro Valley, CA 94552

10. Scottie Tucker/Tagwa           Unsecured Loan         $80,000
Sayida Gilani
1112 Orizaba Ave.
Long Beach, CA 90804

11. The Huyen Thi Ngoc Tran      Third Deed of Trust      $75,708
Liv. Trust
Huyen Nguyen/Kim Nguyen
16020 Edgewater Ln
Moreno Valley, CA

12. 180 Golden Properties, LLC     Unsecured Loan         $75,000
c/o Christopher
380 S. Melrose Dr. #376
Vista, CA 92061

13. Cynthia Chan                   Unsecured Loan         $50,000
1400 Mission St. #90B
San Francisco, CA 94103

14. Los Angeles County Tax              Taxes             $49,869
Collector
Revenue & Enforcement
P.O. Box 51391
Los Angeles, CA 90051

15. Los Angeles County                  Taxes              $8,197
Tax Collector
Revenue & Enforcement
P.O. Box 51391
Los Angeles, CA 90051

16. Pasadena Water and Power           Utility               $404
P.O. Box 7120
Pasadena, CA 91109

17. DWP                                Utility               $357
P.O. Box 5111
Los Angeles, CA 90051

18. City of Newport Beach              Utility               $241
Revenue Division
P.O. Box 4923
Whittier, CA 90607

19. So Cal Gas Co.                     Utility               $151
P.O. Box C
Monterey Park, CA
91756

20. City of Pasadena                   Utility               $144
Office of City Treasurer
100 N. Garfield Ave. Rm N106
Pasadena, CA 91109


GFL ENVIRONMENTAL: Moody's Rates New $500MM Unsec. Notes 'Caa2'
---------------------------------------------------------------
Moody's Investors Service affirmed GFL Environmental Inc.'s B3
corporate family rating, B3-PD probability of default rating and
Caa2 senior unsecured notes ratings, and upgraded the company's
senior secured term loan rating to B1 from B2. At the same time,
Moody's assigned a Caa2 rating to GFL's proposed $500 million
senior unsecured notes due 2027. The ratings outlook remains
stable.

Proceeds from the proposed notes will be used to repay outstanding
debt and to fund acquisitions.

"The upgrade of the term loan rating reflects the decrease in the
proportion of secured debt in the capital structure (to 60% from
70%) and increased loss absorption cushion following the issuance
of the proposed notes," said Peter Adu, Moody's Vice President and
Senior Analyst.

Ratings Affirmed:

  Corporate Family Rating, B3

  Probability of Default Rating, B3-PD

  $350 million Senior Unsecured Notes due 2022,
  Caa2 (LGD5)

  $400 million Senior Unsecured Notes due 2023, Caa2 (LGD5)

  $400 million Senior Unsecured Notes due 2026, Caa2 (LGD5)

Ratings Upgraded:

  $2,615 million (face value) Senior Secured Term Loan
  B due 2025, to B1 (LGD2) from B2 (LGD3)

Rating Assigned:

  $500 million Senior Unsecured Notes due 2027, Caa2 (LGD5)

Outlook Actions:

  Remains Stable

RATINGS RATIONALE

GFL's B3 CFR is constrained by: 1) its aggressive acquisition
growth strategy; 2) Moody's expectation that leverage will be
sustained above 6x in the next 12 to 18 months (6.9x pro forma for
the proposed financing transaction and acquisitions); 3) the short
time frame between acquisitions and the potential for integration
risks; 4) lack of a track record and opacity of organic growth; and
5) GFL's ownership by private equity, which hinders deleveraging.
However, GFL benefits from: 1) the company's diversified business
model; 2) high recurring revenue supported by long term contracts;
3) its good market position in the stable Canadian and US
non-hazardous waste industry; 4) EBITDA margins that compare
favorably with those of its investment grade rated industry peers;
and 5) good liquidity.

GFL has good liquidity. Sources exceed C$830 million compared to
about C$35 million of term loan amortization through 2019. When the
financing transaction closes, GFL will have cash of C$7 million,
full availability under its C$628 million (including the C$80
million LC facility) and $40 million revolving credit facilities,
both due August 2023, and Moody's expected free cash flow of about
C$230 million in 2019. Moody's expects a significant portion of the
company's liquidity to be used to fund future acquisitions. GFL's
revolver is subject to leverage and coverage covenants, which
Moody's expects will have at least a 10% cushion over the next four
quarters. GFL has limited flexibility to generate liquidity from
asset sales as its assets are encumbered.

The stable outlook reflects Moody's view that GFL will maintain
stable margins and good liquidity while integrating newly-acquired
businesses in the next 12 to 18 months.

The ratings could be upgraded if GFL demonstrates consistent and
visible organic revenue growth, maintains good liquidity and
sustains adjusted debt/EBITDA towards 5.5x (pro forma 6.9x) and
EBIT/Interest above 1.5x (pro forma 1.0x). The ratings could be
downgraded if liquidity weakens, possibly caused by negative free
cash flow, if there is a material and sustained decline in margins
due to challenges integrating acquisitions or if adjusted
Debt/EBITDA is sustained above 8x (pro forma 6.9x).

The principal methodology used in these ratings was Environmental
Services and Waste Management Companies published in April 2018.

GFL Environmental Inc., headquartered in Toronto, provides solid
waste and liquid waste collection, treatment and disposal solutions
and soil remediation services to municipal, industrial and
commercial customers in Canada. The company also provides municipal
and commercial solid waste and recycling collection services in the
US. Pro forma for acquisitions, annual revenue exceeds C$3 billion.


GFL ENVIRONMENTAL: S&P Rates New US$500MM Sr. Unsecured Notes CCC+
------------------------------------------------------------------
S&P Global Ratings assigned its 'CCC+' issue-level rating and '6'
recovery rating to GFL Environmental Inc.'s proposed US$500 million
senior unsecured notes due 2027. The '6' recovery rating indicates
S&P's expectation that unsecured lenders would receive negligible
(0%-10%; rounded estimate 0%) recovery in the event of default.

S&P assumes GFL will use net proceeds primarily to fund
acquisitions and repay amounts drawn under its revolving credit
facility. This is consistent with S&P's view that GFL will continue
to expand its operating breadth through acquisitions that the
rating agency expects will be primarily debt-funded. S&P forecasts
adjusted debt-to-pro forma EBITDA to be 7x-8x and adjusted funds
from operations (FFO) cash interest coverage to be in the low-2x
area over the next couple of years. These forecast credit measures
are commensurate with S&P's issuer credit rating on GFL, albeit at
the weaker end. S&P could lower its ratings on the company within
the next 12 months if adjusted FFO cash interest coverage falls
below 2x. In S&P's view, this could result from poor execution of
integrating acquisitions, volume and pricing pressure from tough
market conditions, or operating inefficiencies that contribute to
weaker-than-expected earnings and cash flow.

S&P's 'B' issuer credit rating and stable outlook on GFL reflect
the company's position as the fourth-largest solid waste management
company in North America, with operations across Canada and 20 U.S.
states. The rating agency believes the company benefits from high
revenue visibility due to its multiyear service contracts and high
renewal rates across a diversified customer base. The rating also
reflects S&P's view that the solid waste management market is
mature and highly fragmented, with incumbents intent on gaining
market share through a competitive bidding process, particularly
for large solid waste contracts. Therefore, S&P assumes organic
revenue growth will generally be in the low-single-digit area.
Furthermore, the rating agency believes there is a relatively high
degree of integration risk that could contribute to earnings
volatility, particularly in the near term, because GFL closed its
US$2.825 billion merger with Waste Industries on Nov. 14, 2018, and
continues to pursue tuck-in acquisitions.

  RATINGS LIST

  GFL Environmental Inc.

  Issuer credit rating B/Stable/--

  Rating assigned

  US$500 million senior unsecured notes due 2027 CCC+

  Recovery rating 6 (0%)


GLOBAL HEALTHCARE: President Gets $90,000 Bonus in Shares
---------------------------------------------------------
Global Healthcare REIT, Inc., executed an amended employment
agreement with Zvi Rhine, the Company's president and CFO.
Pursuant to the Amendment, with an effective date of April 1, 2019,
the Company granted Mr. Rhine a bonus for 2018 services in the
amount of $90,000 payable in shares of restricted common stock.
The shares were valued at $0.33 per share (the closing price of the
Company's stock on April 2, 2019), resulting in 272,727 shares of
common stock.

The Securities were granted to Mr. Rhine, who qualified as an
"accredited investor" as an officer and director of the Company.
The Securities will be "restricted securities" within the meaning
of Rule 144 under the Securities Act of 1933, as amended.

The Company paid no fees or commissions in connection with the
issuance of the Securities

The Amendment also adopted a bonus plan for Mr. Rhine applicable to
future periods of employment.  Under the terms of the Plan, Mr.
Rhine will be entitled to an annual bonus equal to 15% of the
increase in the Company's EBITDA year over year.  The bonus is
contingent upon the Company being cash flow positive for the year
being measured, and may not exceed 100% of Mr. Rhine's base salary.
The bonus will be payable in either cash, shares of common stock
or a combination of the two, at the sole discretion of the
Company.

                     About Global Healthcare

Greenwood Village, Colorado-based Global Healthcare REIT, Inc.,
acquires, develops, leases, manages and disposes of healthcare real
estate, and provides financing to healthcare providers.  The
Company's portfolio will be comprised of investments in the
following five healthcare segments: (i) senior housing, (ii) life
science, (iii) medical office, (iv) post-acute/skilled nursing and
(v) hospital.

Global Healthcare reported a net loss attributable to common
stockholders of $2.02 million for the year ended Dec. 31, 2018,
compared to a net loss attributable to common stockholders of $3.02
million for the year ended Dec. 31, 2017.  As of Dec. 31, 2018, the
Company had $38.29 million in total assets, $37.31 million in total
liabilities, and $984,594 in total equity.

The Audit Opinion included in the Company's Annual Report for the
year ended Dec. 31, 2018, contains an explanatory paragraph
expressing substantial doubt regarding the Company's ability to
continue as a going concern.  MaloneBailey, LLP, in Houston, Texas,
the Company's auditor since 2016, stated that the Company has
suffered recurring losses from operations and has a net capital
deficiency that raise substantial doubt about its ability to
continue as a going concern.


GLOBALTRANZ ENTERPRISES: Moody's Assigns B3 CFR, Outlook Stable
---------------------------------------------------------------
Moody's Investors Service assigned first-time ratings to
GlobalTranz Enterprises, Inc., including a B3 Corporate Family
Rating and a B3-PD Probability of Default Rating. Moody's also
assigned a B2 rating to the company's proposed first lien senior
secured credit facilities, consisting of a revolving credit
facility due 2024, a term loan due 2026 and a delayed-draw term
loan also due in 2026, if drawn. The ratings outlook is stable.

Net proceeds from the $310 million first lien term loan along with
a new $85 million second lien term loan (unrated) and $544 million
in cash equity from sponsor Providence Equity Partners, L.P. will
be used to fund the approximately $940 million acquisition of
GlobalTranz.

The following rating actions were taken:

Assignments:

Issuer: GlobalTranz Enterprises, Inc.

  Probability of Default Rating, Assigned B3-PD
  Corporate Family Rating, Assigned B3
  Senior Secured Bank Credit Facility, Assigned
    B2 (LGD3)

Outlook Actions:

Issuer: GlobalTranz Enterprises, Inc.

  Outlook, Assigned Stable

RATINGS RATIONALE

The B3 CFR reflects GTZ's modest scale in the U.S. freight
brokerage market, its exposure to cyclical end markets and high
financial leverage with pro forma debt-to-EBITDA above 6x. An
aggressive pace of acquisitions over the past two years has
increased the company's presence in the highly-fragmented third
party logistics (3PL) industry, which diminishes visibility of the
year-on-year performance of the organic operations. However, GTZ's
size remains relatively small based on pro forma revenue of about
$1.5 billion and its footprint limited within the highly
competitive landscape for freight brokerage, which also constrains
its profitability. Moody's anticipates operating margins (operating
profit to gross revenue) will remain in the low single digit range
into 2021. The rating also considers ongoing acquisition-related
event risk as Moody's believes the company is likely to continue
its acquisitive growth, leading to more debt and sustained high
leverage. The company's relatively weak free cash flow profile and
its vulnerability to competitive pricing from larger peers also
weigh on the ratings.

The rating positively considers GTZ's position as an important
provider in the less-than-truckload (LTL) brokerage market to small
and medium-sized businesses (SMBs) where the company typically
generates higher margins than with its large enterprise customers.
The company's growing transportation management business provides a
relatively steady source of revenue and should benefit from
customers increasingly outsourcing freight management. The
diversification of the company's offerings, end markets and
customers, along with an asset light model that provides some cost
flexibility, also support the B3 CFR.

Moody's expects GTZ to maintain adequate liquidity over the next 12
to 18 months. Cash on hand will be modest though Moody's expects
full availability under the new $75 million revolver due in 2024
upon closing of the transaction. Free cash flow will be about
breakeven to modestly positive over the next 12 to 18 months,
before any non-recurring costs related to additional acquisitions.
Alternate liquidity sources are limited given the asset light
business model and primarily all asset pledge that secures the
credit facilities.

The B2 rating on the first lien credit facilities, one notch above
the CFR, reflects its priority position in Moody's LGD waterfall
and the sufficiently-sized first loss position of the new second
lien term loan and accounts payable.

The stable outlook reflects Moody's expectation of supportive
demand for GTZ's services and that the company will successfully
execute its growth strategy and improve its operating margins with
free cash flow turning positive after 2019. This should lead to
moderately better credit metrics over the next 12 to 18 months.

Downward ratings pressure could develop if there is no earnings
expansion such that GTZ is unable to generate positive free cash
flow or debt-to-EBITDA is sustained above 6.5x. A weaker liquidity
profile with sustained negative free cash flow generation or
meaningful reliance on the revolver to fund working capital or the
required amortization on the term loan could also pressure the
ratings. Debt-funded shareholder distributions or acquisitions that
increase leverage could also lead to a ratings downgrade.

Upward ratings pressure could occur if Moody's expects
debt-to-EBITDA to be sustained below 5.25x and the company were to
grow in scale accompanied by a material and sustainable improvement
in operating margins to above 4% and maintenance of good liquidity,
including consistently positive free cash flow generation in excess
of 3% of debt.

GlobalTranz Enterprises, Inc., based in Scottsdale, Arizona, is a
non-asset based provider of third party logistics services in the
truckload and less-than-truckload markets. Revenues for fiscal year
end December 31, 2018, are estimated to approximate $1.4 billion,
pro forma for acquisitions made in 2018.


GNC HOLDINGS: Names Cameron Lawrence as Chief Accounting Officer
----------------------------------------------------------------
Cameron W. Lawrence, age 39, was appointed as senior vice president
finance, chief accounting officer of GNC Holdings, Inc., effective
April 15, 2019.  Prior to his appointment, Mr. Lawrence served as
the chief operating & financial officer at Ondine Biomedical Inc.,
and prior to that time had spent more than five years with PNI
Digital Media, a subsidiary of Staples, Inc. as the business unit
chief executive officer and general manager.  Mr. Lawrence has also
held various roles in finance and accounting at
PricewaterhouseCoopers and OncoGenex Pharmaceuticals.

As a full-time employee, Mr. Lawrence will receive an initial base
salary of $320,000, annual incentive plan participation at a 45%
target level (of base salary), a sign-on equity grant on the first
day of the fiscal quarter following his date of hire, valued at
$250,000, and a cash sign-on bonus of $75,000.  Mr. Lawrence will
also be eligible to participate in the full range of benefits
offered by the Company, including relocation, health and welfare
plans, medical and dental, life and disability insurances as well
as the Company's 401(k) and non-qualified deferred compensation
plans.

                       About GNC Holdings

GNC Holdings, Inc., headquartered in Pittsburgh, PA, is a global
specialty retailer of health, wellness and performance products,
including protein, performance supplements, weight management
supplements, vitamins, herbs and greens, wellness supplements,
health and beauty, food and drink and other general merchandise.
As of Dec. 31, 2018, GNC had approximately 8,400 locations, of
which approximately 6,200 retail locations are in the United States
(including approximately 2,200 Rite Aid licensed
store-within-a-store locations) and franchise operations in
approximately 50 countries.

GNC Holdings reported net income of $69.78 million for the year
ended Dec. 31, 2018, compared to a net loss of $150.26 million for
the year ended Dec. 31, 2017.  As of Dec. 31, 2018, GNC Holdings
had $1.52 billion in total assets, $1.54 billion in total
liabilities, $98.80 million in preferred stock, and a stockholders'
deficit of $114.31 million.

                           *    *    *

As reported by the TCR on Nov. 15, 2018, S&P Global Ratings
affirmed its 'CCC+' issuer credit rating on Pittsburgh-based
vitamin and supplement retailer GNC Holdings Inc. and removed all
of its ratings on the company from CreditWatch, where S&P placed
them with negative implications on Feb. 14, 2018.  "The affirmation
reflects our belief that GNC's capital structure remains
unsustainable over the long term in light of its current operating
performance, including its cash flow generation, because of
increased competitive threats amid the ongoing secular changes in
the retail industry.


GOGO INC: Has Tender Offer for 3.75% Convertible Notes Due 2020
---------------------------------------------------------------
Gogo Inc. has offered to purchase any and all of its outstanding
3.75% Convertible Senior Notes due 2020.  As of April 17, 2019,
there were $162.0 million aggregate principal amount of the Notes
outstanding.

Upon the terms and subject to the conditions set forth in the
Company's Offer to Purchase, dated April 18, 2019, and the related
Letter of Transmittal, the Company is offering to pay, for cash, an
amount equal to $1,000 per $1,000 principal amount of Notes
purchased, plus accrued and unpaid interest from the last interest
payment date on the Notes to, but not including, the date of
payment for the Notes accepted in the Tender Offer.  The Tender
Offer will expire at 11:59 p.m., New York City time, on May 15,
2019, or any other date and time to which the Company extends such
Tender Offer, unless earlier terminated.

The Tender Offer is subject to the satisfaction or waiver of
certain conditions, including the consummation of the offering of
senior secured notes by Gogo Intermediate Holdings LLC, a direct
subsidiary of the Company, and Gogo Finance Co. Inc., an indirect
subsidiary of the Company, launched on April 15, 2019, as such
conditions are further described in the Offer to Purchase.  The
Company expressly reserves the right for any reason, subject to
applicable law, to extend, abandon, terminate or amend the Tender
Offer.  The Tender Offer is not conditioned upon a minimum amount
of Notes being tendered and there can be no assurance that the
Tender Offer will be subscribed for in any amount.

For Notes that have been validly tendered at or prior to the
Expiration Date and that are accepted for purchase pursuant to the
Tender Offer, settlement will occur promptly following the
Expiration Date, assuming the conditions to the Tender Offer have
been either satisfied or waived by the Company (including the
Financing Condition) at or prior to the Expiration Date as further
described in the Offer to Purchase.

The complete terms and conditions of the Tender Offer are set forth
in the Offer to Purchase and related Letter of Transmittal that are
being sent to holders of the Notes.  Copies of the Offer to
Purchase and Letter of Transmittal may be obtained from the
Information Agent for the Tender Offer, D.F. King & Co., Inc., by
calling (866) 796-1290 (toll-free), (212) 269-5550 (collect) or by
email at gogo@dfking.com.

J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting
as the dealer managers for the Tender Offer.  Questions regarding
the Tender Offer may be directed to J.P. Morgan Securities LLC at
(800) 261-5767 or Morgan Stanley & Co. LLC at (855) 483-0952.

In connection with the issuance of the Notes in 2015 the Company
entered into privately negotiated prepaid forward stock purchase
transactions with certain financial institutions to facilitate
privately negotiated derivative transactions, including swaps,
between the Forward Counterparties and investors in the Notes
relating to shares of the Company's common stock by which Holders
of Notes could establish short positions relating to shares of our
common stock and otherwise hedge their investment in the Notes.  In
connection with or following any repurchase of Notes pursuant to
the Tender Offer, the Noteholders may unwind their privately
negotiated derivative transactions with the Forward Counterparties,
who in turn may elect to settle all or a portion of the Forward
Transactions in accordance with its terms, which would result in a
delivery of the applicable number of shares of the Company's common
stock to us earlier than the applicable maturity date.

In addition, those Noteholders may enter into and/or unwind other
transactions relating to the Company's common stock or the Notes,
including the purchase or sale of shares of the Company's common
stock, and the Forward Counterparties may enter into and/or unwind
various derivative transactions with respect to shares of the
Company's common stock and/or by purchasing shares of common stock.
In the case of Noteholders that have purchased shares of the
Company's common stock to offset the short position relating to
shares of its common stock established through derivative
transactions with the Forward Counterparties, such Noteholders may
sell such shares of its common stock.  The effect, if any, of any
of these transactions and activities on the market price of its
common stock will depend in part on market conditions and cannot be
ascertained at this time, but any of these activities could impact
the value of its common stock and the Notes.

                           About Gogo

Gogo Inc. -- http://www.gogoair.com/-- is a global provider of
in-flight broadband connectivity and wireless entertainment
services, with its equipment installed and services provided on
approximately 3,100 commercial aircraft and approximately 5,200
business aircraft as of Dec. 31, 2018.  Gogo is headquartered in
Chicago, Illinois with additional facilities in Broomfield, CO and
locations across the globe.

Gogo reported a net loss of $162.03 million for the year ended Dec.
31, 2018, compared to a net loss of $172.0 million for the year
ended Dec. 31, 2017.  As of Dec. 31, 2018, Gogo Inc. had $1.26
billion in total assets, $1.53 billion in total liabilities, and a
total stockholders' deficit of $268.8 million.

                           *    *    *

As reported by the TCR on April 18, 2019, Moody's Investors Service
changed the outlook on Gogo Inc. to stable from negative.
Concurrently, Moody's has affirmed Gogo's corporate family rating
at Caa1.  Moody's said that despite the improvement in liquidity,
Gogo's Caa1 CFR remains warranted given the company's high leverage
which Moody's expects at around 9.9x (Moody's adjusted debt/EBITDA)
by end 2019 along with the continued need for Gogo to invest
heavily in technology and equipment installs to pursue its growth
ambitions outside of North America.  Gogo's Caa1 also reflects the
company's small scale relative to other players in the wider
telecommunications industry as well as the highly competitive
environment it operates in.

As reported by the TCR on May 8, 2018, S&P Global Ratings lowered
its corporate credit rating on Chicago-based Gogo Inc. to 'CCC+'
from 'B-'.  "The downgrade reflects our expectation that previously
announced equipment issues will weigh on operating and financial
performance in 2018, which we expect will have a carry-over effect
on the company's growth in 2019.  As a result, we believe there
could be a liquidity shortfall in the second half of 2019 absent
improvements in operating performance and planned cost saving
initiatives," S&P said.


GOGO INC: Prices $905 Million Senior Secured Notes Offering
-----------------------------------------------------------
Gogo Inc. has priced the previously announced private offering of
$905 million aggregate principal amount of 9.875% senior secured
notes due 2024 to be issued by its direct wholly owned subsidiary,
Gogo Intermediate Holdings LLC, and its indirect wholly owned
subsidiary, Gogo Finance Co. Inc.  The offering is expected to
close on April 25, 2019, subject to certain closing conditions.
The Notes will be guaranteed on a senior secured basis by Gogo Inc.
and (subject to certain exceptions) all of Holdings LLC's existing
and future restricted subsidiaries (other than the Co-Issuer),
subject to certain exceptions.  The Notes and the related
guarantees will be secured by first-priority liens (subject to
certain exceptions) on substantially all of the Issuers' and the
Guarantors' assets, including pledged equity interests of the
Issuers and (subject to certain exceptions) all of Holdings LLC's
existing and future restricted subsidiaries guaranteeing the Notes,
except for certain excluded assets and subject to permitted liens.

The Issuers will use a portion of the net proceeds from the sale of
the Notes to redeem all of their outstanding 12.500% senior secured
notes due 2022 at a redemption price equal to 100% of the principal
amount, plus a make-whole premium and accrued and unpaid interest
to (but not including) the redemption date, in accordance with the
indenture governing the Secured Notes, to pay related fees and
expenses and for general corporate purposes, including the
repurchase, retirement or repayment of Gogo's 3.75% Convertible
Senior Notes due 2020, in whole or in part, at or prior to
maturity.

The Notes and the guarantees will be offered in a private offering
exempt from the registration requirements of the United States
Securities Act of 1933, as amended.  The Notes and the guarantees
will be offered only to qualified institutional buyers pursuant to
Rule 144A under the Securities Act and to non-U.S. persons outside
the United States in reliance on Regulation S under the Securities
Act.

The Notes and the guarantees have not been registered under the
Securities Act and may not be offered or sold in the United States
absent registration or an applicable exemption from the
registration requirements of the Securities Act and applicable
state laws.

                          About Gogo

Gogo Inc. -- http://www.gogoair.com/-- is a global provider of
in-flight broadband connectivity and wireless entertainment
services, with its equipment installed and services provided on
approximately 3,100 commercial aircraft and approximately 5,200
business aircraft as of Dec. 31, 2018.  Gogo is headquartered in
Chicago, Illinois with additional facilities in Broomfield, CO and
locations across the globe.

Gogo reported a net loss of $162.03 million for the year ended Dec.
31, 2018, compared to a net loss of $172.0 million for the year
ended Dec. 31, 2017.  As of Dec. 31, 2018, Gogo Inc. had $1.26
billion in total assets, $1.53 billion in total liabilities, and a
total stockholders' deficit of $268.8 million.

                           *    *    *

As reported by the TCR on April 18, 2019, Moody's Investors Service
changed the outlook on Gogo Inc. to stable from negative.
Concurrently, Moody's has affirmed Gogo's corporate family rating
at Caa1.  Moody's said that despite the improvement in liquidity,
Gogo's Caa1 CFR remains warranted given the company's high leverage
which Moody's expects at around 9.9x (Moody's adjusted debt/EBITDA)
by end 2019 along with the continued need for Gogo to invest
heavily in technology and equipment installs to pursue its growth
ambitions outside of North America.  Gogo's Caa1 also reflects the
company's small scale relative to other players in the wider
telecommunications industry as well as the highly competitive
environment it operates in.

As reported by the TCR on May 8, 2018, S&P Global Ratings lowered
its corporate credit rating on Chicago-based Gogo Inc. to 'CCC+'
from 'B-'.  "The downgrade reflects our expectation that previously
announced equipment issues will weigh on operating and financial
performance in 2018, which we expect will have a carry-over effect
on the company's growth in 2019.  As a result, we believe there
could be a liquidity shortfall in the second half of 2019 absent
improvements in operating performance and planned cost saving
initiatives," S&P said.


GORE FREIGHT COMPANY: Hires Ballesteros Gonzalez as Special Counsel
-------------------------------------------------------------------
Gore Freight Company, LLC, seeks authority from the U.S. Bankruptcy
Court for the Southern District of Texas to employ Ballesteros
Gonzalez Law as special litigation counsel.

Ballesteros Gonzalez will represent the Debtor in three pending
state court lawsuits:

     (i) Cause C-0966-18-H, styled Volvo Financial Services, A
Division of VFS US LLC v. Gore Freight Company, LLC and Manuel
Gomez , In the 389th District Court for Hidalgo County, Texas;

    (ii) Cause C-0308-18-J styled Transportation Alliance Bank,
Inc. v. Gore Freight Company, LLC and Manuel Gomez in the 430th
Judicial District Court for Hidalgo County, Texas); and

   (iii) Cause CL-18-1481-F styled Jose I. Bugarin v. Gore Freight
Company, LLC , In County Court No. 6 for Hidalgo County, Texas.

Professional services to be rendered by the counsel are:

  -- prepare and file such pleadings as are necessary to defend
Debtor in the State Court Lawsuits: in both (i) the underlying
state court actions and, if removed to bankruptcy court, (ii) the
continued litigation in bankruptcy court;

  -- assist the Debtor in analyzing/prosecuting/etc. counter-claims
own ed by the estate against third parties;

  -- prepare and file such pleadings as are necessary to pursue the
estate's claims against third parties (including counter-claims);

  -- conduct appropriate examinations of witnesses, claimants and
other parties in interest in connection with such litigation and
any claims arising from the State Court Lawsuits;

  -- represent the Debtor in any proceedings before the Court and
in any other judicial or administrative proceeding in which the
claims asserted in the State Court Lawsuits may be affected;

  -- collect any judgment that may be entered in the contemplated
litigation;

  -- handle any appeals that may result from the contemplated
litigation;

  -- perform any other legal services that may be appropriate in
connection with the Debtor's defense and/or counter-claims in the
State Court Lawsuits.

The counsel's standard hourly charges are:

     Alejandro Ballesteros  $300.00
     Andres Ramos           $300.00
     Legal Assistants       $100.00

Alejandro Ballesteros, principal of Ballesteros Gonzalez Law Firm,
attests that he and his firm are "disinterested persons" within the
definition of Section 101(14) of the Bankruptcy Code on the matters
for which it is to be engaged as special counsel.

The counsel can be reached at:

     Alejandro Ballesteros Gonzalez, Esq.
     Ballesteros Gonzalez Law
     3900 N 10th St #980
     McAllen, TX 78501
     Phone: +1 956-800-4418

            About Gore Freight Company

Gore Freight Company, LLC is a general freight trucking company
specializing in the delivery and shipments between Mexico, the
United States, and Canada. The Company offers door-to-door
delivery, cross-border shipping, fleet service, trans-loading,
bonded freight services, and cross-docking.
http://www.gorefreight.com/  

Gore Freight Company, LLC, based in San Juan, TX, filed a Chapter
11 petition (Bankr. S.D. Tex. Case No. 19-70090) on March 20, 2019.
In the petition signed by Eduardo Castano, member, the Debtor
disclosed $2,241,213 in assets and $1,917,084 in liabilities.  The
Hon. Eduardo V. Rodriguez oversees the case.  Jana Smith Whitworth,
Esq., at JS Whitworth Law Firm, serves as bankruptcy counsel.


GORE FREIGHT COMPANY: Hires Garza & Morales, L.C. as Accountant
---------------------------------------------------------------
Gore Freight Company, LLC, seeks authority from the U.S. Bankruptcy
Court for the Southern District of Texas to employ Arnoldo Diaz,
CPA, of Garza & Morales, L.C., utilized in the Ordinary Course of
Business, as accountant.

The OCP has agreed to charge Debtor approximately $370.00 monthly
for the accounting services related to:

     (i) the quarterly reports prepared and filed with the IRS;

    (ii) the quarterly reports prepared and filed with the Texas
Workforce Commission;

   (iii) preparation of the IRS forms 1099; and,

    (iv) annual tax returns for the IRS and the Texas Comptroller.


The fee for the annual tax return generally totals $3,350.00.

Arnoldo Diaz, CPA, assures the court the he does not have any
interests that are materially adverse to the Debtor, its creditors,
or other parties in interest.

The firm can be reached at:

     Arnoldo Diaz, CPA
     Garza & Morales, L.C.
     817 Chicago Avenue
     Mcallen, TX 78501
     Phone: (956) 687-6216
     Web: www.garzamorales.com

              About Gore Freight Company

Gore Freight Company, LLC is a general freight trucking company
specializing in the delivery and shipments between Mexico, the
United States, and Canada. The Company offers door-to-door
delivery, cross-border shipping, fleet service, trans-loading,
bonded freight services, and cross-docking.
http://www.gorefreight.com/  

Gore Freight Company, LLC, based in San Juan, TX, filed a Chapter
11 petition (Bankr. S.D. Tex. Case No. 19-70090) on March 20, 2019.
In the petition signed by Eduardo Castano, member, the Debtor
disclosed $2,241,213 in assets and $1,917,084 in liabilities.  The
Hon. Eduardo V. Rodriguez oversees the case.  Jana Smith Whitworth,
Esq., at JS Whitworth Law Firm, serves as bankruptcy counsel.


HANOVER INSURANCE: Fitch Affirms BB+ Rating on 2027 Jr. Sub. Debt
-----------------------------------------------------------------
Fitch Ratings has affirmed the 'A' (Strong) Insurer Financial
Strength (IFS) rating of The Hanover Insurance Company, the
principal operating subsidiary of The Hanover Insurance Group, Inc.
(NYSE: THG). Fitch has also affirmed THG's senior unsecured notes
at 'BBB'. The Rating Outlook is Stable.

The rationale for the affirmation of THG's ratings reflect the
company's continued moderate business profile following the sale of
Chaucer, its Lloyd's-focused international specialty business;
strong capitalization; improved underlying underwriting
performance, excluding catastrophes; and a reserve position that
Fitch views as sufficient.

KEY RATING DRIVERS

THG has a moderate business profile, with competitive advantages in
the U.S. independent agency space, and $4.4 billion in net premium
written in 2018. The company's business risk profile has a material
exposure to regional natural catastrophes, but the inherent
volatility is reduced somewhat from past years, due to changes in
property risk aggregations with an expanding geographic profile and
shifts in business mix. Product diversification is moderate with a
focus on short-tail lines. While diversification and scale were
somewhat lessened by the sale of Chaucer, the divestiture also
reduced catastrophe and tail risk exposure.

Although capital formation has been relatively modest due to return
of capital to shareholders through dividends and share repurchase,
Fitch believes THG's capital sufficiently supports the company's
business profile, with continued above-average operating leverage.
GAAP operating leverage and net leverage were 1.5x and 3.9x,
respectively. The financial leverage ratio (FLR) was 17.8% at YE
2018, excluding $125 million in debt repaid on Jan. 2, 2019. The
U.S. subsidiaries' Prism capital model score remained 'Strong' at
YE 2017.

Fitch expects THG's capital management framework to remain
unchanged with inorganic growth consistent with its prior track
record of bolt-on acquisitions, and renewal rights transactions.
The company had $1.2 billion in holding company cash and
investments at YE 2018, including the proceeds from the sale of
Chaucer. While a part of the proceeds are expected to be used to
support business growth, the proceeds can also be expected to be
returned to shareholders through share repurchase and dividends.

THG's underwriting performance weakened from prior years due to
higher catastrophe losses in 2018 and 2017, and in 2016, due in
part to unfavorable U.S. reserve experience. However, catastrophes
were lower in 2018 at 5.2 points of earned premiums, compared with
6.4 points in 2017. Underlying accident-year (AY) loss ratios,
excluding catastrophes, improved to 58.8% in 2018 from 60.6% in
2013, through past and ongoing actions, as well as a product mix
shift towards specialty commercial lines.

Fitch believes the loss ratio improvement is sustainable at current
levels with underwriting discipline as the current business
portfolio matures. The combined ratio of 96.1% in 2018 produced an
operating ROE of 9.8% and GAAP EBIT coverage was 9.0x. Sustained
mid-90% range combined ratios can move operating ROEs to 10% or
better. THG's future opportunity for ROE expansion lies in the
expense ratio, where several savings initiatives are underway, but
are partially offset by continued investments to keep pace with
technology advances.

Additional balance sheet strengths include THG's high-quality,
liquid investment portfolio that provides ample liquidity to cover
its insurance reserves. Fitch believes THG's reserves are
sufficient following reserve strengthening in 2016, primarily in
commercial lines. The risky asset ratio of 35% at YE 2018 was lower
than industry average.

RATING SENSITIVITIES

Key rating sensitivities that could lead to an upgrade of THG's
ratings include improvement in GAAP net leverage (premiums written
plus total liabilities less debt less reinsurance recoverable
divided by shareholders' equity) of 3.8x or better, sustaining a
Prism score of 'strong', and sustaining GAAP operating interest
coverage at 10x or better.

Key ratings sensitivities that could lead to a downgrade include: a
shift to underwriting losses, a material adverse development of
loss reserves, an increase in run-rate FLR to 28% or greater, and
GAAP operating interest coverage of 5x or lower.

FULL LIST OF RATING ACTIONS

Fitch has affirmed the following ratings with a Stable Outlook:

The Hanover Insurance Group, Inc.

  -- Issuer Default Rating (IDR) at 'BBB+';

  -- 7.625% senior unsecured notes due 2025 at 'BBB';

  -- 4.5% senior unsecured notes due 2026 at 'BBB';

  -- 8.207% junior subordinated debentures due 2027 at 'BB+';

  -- 6.35% subordinated debentures due March 30, 2053 at 'BB+'.

The Hanover Insurance Company

Citizens Insurance Company of America

  -- IFS at 'A'.


HOME BOUND HEALTHCARE: Court Waives Appointment of PCO
------------------------------------------------------
Judge Janet S. Baer of the U.S. Bankruptcy Court for the Northern
District of Illinois entered an Order waiving the requirement for
the appointment of a patient care ombudsman for Home Bound
Healthcare, Inc.

It was previously reported that the Debtor sought for an order
declaring the PCO appointment as not necessary because the
bankruptcy case was not caused by problems or issues related to
patient care.

         About Home Bound Healthcare

Home Bound Healthcare, Inc., is a home health care company that
offers outpatient therapy, nursing, occupational, and
rehabilitation services.

Home Bound Healthcare, based in Flossmoor, IL, filed a Chapter 11
petition (Bankr. N.D. Ill. Case No. 19-05760) on March 5, 2019. In
the petition signed by Julieta Mitra, president, the Debtor
estimated $500,000 to $1 million in assets and $1 million to $10
million in liabilities.  The Hon. Janet S. Baer oversees the case.

John D. Ioakimidis, Esq., at John D. Ioakimidis, Attorney at Law,
serves as bankruptcy counsel.


IBK PARTNERS: Seeks to Hire Rosen & Kantrow as Legal Counsel
------------------------------------------------------------
IBK Partners Inc. seeks approval from the U.S. Bankruptcy Court for
the Eastern District of New York to hire Rosen & Kantrow, PLLC as
its legal counsel.

The firm will advise the Debtor of its rights and duties under the
Bankruptcy Code; oversee the preparation of necessary reports to
the court or creditors; conduct all appropriate investigation or
litigation; and provide other legal services in connection with its
Chapter 11 case.

The firm's hourly rates are:

     Associates     $275 - $450   
     Partners       $525 - $575

Rosen & Kantrow received a retainer in the amount of $25,000.

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

The firm can be reached through:

     Avrum J. Rosen, Esq.
     Rosen & Kantrow, PLLC
     38 New Street
     Huntington, NY 11743
     Phone: 631-423-8527  

                      About IBK Partners Inc.

IBK Partners Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. N.Y. Case No. 19-41628) on March 21,
2019.  At the time of the filing, the Debtor estimated assets and
liabilities of between $1,000,001 and $10 million.  The case is
assigned to Judge Carla E. Craig.


INFORMATION TECHNOLOGY: Sherman Online Auction of Personalty Okayed
-------------------------------------------------------------------
Judge Carlota M. Bohm of the U.S. Bankruptcy Court for the Western
District of Pennsylvania authorized Information Technology
Procurement Sourcing, LLC to conduct an online public auction of
certain office furniture and equipment, free and clear of all
liens, claims and encumbrances, to be conducted by Sherman
Hostetter Group, LLC.

A hearing on the Motion was held on April 15, 2019.

The Personalty is located in the 5,700 square feet of commercial
office space in the Maple Row shopping center located at 11364
Perry Highway, Wexford, Pennsylvania that the Debtor currently
leases from Gigliotti Holdings, LP.

Sherman will conduct the Auction pursuant to the terms and
conditions set forth in their Auction Listing Agreement.  As more
particularly described in the Listing Agreement, the Auction will
be on an absolute basis, conducted on-line for a period of
approximately 10 days with all items of Personalty to be removed by
April 26, 2019 by 5:00 p.m. (ET).

A Report of Public Auction will be filed with the Court 35 days
after completion of the Auction.

Sherman may deduct the expenses of the Auction from the gross
proceeds on the day of the Auction.

No further Order of Court is required to approve or effect the sale
of the Personalty sold at the Auction.

To the extent any item of Personalty remains after the closing of
the Auction, such items of Personalty are deemed to be of de
minimus value and the Debtor is authorized to dispose of such items
in the ordinary course of its business without need for further
Order of Court.

A copy of the Exhibit A attached to the Order is available for free
at:

    http://bankrupt.com/misc/Information_Technology_95_Order.pdf

                   About Information Technology
                     Procurement Sourcing LLC

Information Technology Procurement Sourcing, LLC sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No.
19-20087) on Jan. 7, 2019.  At the time of the filing, the Debtor
estimated assets of less than $1 million and liabilities of less
than $1 million.  The case has been assigned to Judge Carlota M.
Bohm.  The Debtor tapped Stonecipher Law Firm as its legal counsel.


INFORMATION TECHNOLOGY: Taps Sherman Hostetter Group as Auctioneer
------------------------------------------------------------------
Information Technology Procurement Sourcing, LLC filed an expedited
application seeking approval from the U.S. Bankruptcy Court for the
Western District of Pennsylvania to hire Sherman Hostetter Group
LLC as auctioneer.

The Debtor desires to retain Hostetter as such auctioneer to
conduct an online auction and liquidation of the  office furniture
and equipment.

Hostetter has been granted the ability to charge a Buyer's Premium
of 10% of the accepted bid price for the personal property and a
Seller's Commission equal to 12% of the accepted bid price.

Matthew Hostetter, officer of Sherman Hostetter Group LLC, attests
that he and his firm are "disinterested persons" within the meaning
of Sections 101(14) and 327 of the Bankruptcy Code.

The firm can be reached at:

     Matthew Hostetter
     Sherman Hostetter Group LLC
     903 Constitution Blvd.
     Beaver Falls, PA 15010
     Phone: 724-847-1887
     Fax: 724-847-3499

                   About Information Technology
                     Procurement Sourcing LLC

Information Technology Procurement Sourcing, LLC sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No.
19-20087) on Jan. 7, 2019.  At the time of the filing, the Debtor
estimated assets of less than $1 million and liabilities of less
than $1 million.  The case has been assigned to Judge Carlota M.
Bohm.  The Debtor tapped Stonecipher Law Firm as its legal counsel.


INSYS THERAPEUTICS: Names Andrew Long as Chief Executive Officer
----------------------------------------------------------------
INSYS Therapeutics, Inc.'s Board of Directors has appointed Andrew
G. Long as chief executive officer, effective April 15, 2019.  Mr.
Long succeeds Saeed Motahari, who has mutually agreed with the
INSYS Board of Directors to resign as president and CEO of the
Company.

In connection with INSYS' leadership changes, Andrece Housley,
INSYS' corporate controller, has been appointed chief financial
officer, succeeding Mr. Long.  Additionally, Dr. Venkat Goskonda
has been promoted to chief scientific officer, overseeing the
Company's R&D and manufacturing activities.

Steven Meyer, chairman of the Board of Directors, remarked, "We
believe that now is the right time to transition leadership and
that Andy is an excellent choice to serve as the Company's CEO.
Andrece and Dr. Goskonda's promotions are a reflection of their
contributions to INSYS.  On behalf of the Board, I thank Saeed for
his commitment to INSYS and meaningful contributions to the
enterprise.  We appreciate Saeed's dedication to INSYS' employees
and stakeholders and we wish him all the best in the future."

Mr. Long joined INSYS as chief financial officer in August 2017
with more than three decades of experience in the life sciences,
bio-pharma and industrial sectors.  Prior to joining INSYS, he
served as senior vice president of Global Finance at Patheon, where
he worked on a number of initiatives leading up to Patheon's IPO.
Prior to working at Patheon, Mr. Long spent nine years as vice
president of finance for multiple divisions at Thermo Fisher
Scientific.  He previously spent five years leading the global
finance and supply chain functions for the BioScience Division of
Cambrex Corporation.  Previously, Mr. Long also spent almost a
decade building his financial expertise in various roles at Abbott
Laboratories.

                         About INSYS

Headquartered in Chandler, Arizona, INSYS Therapeutics --
http://www.insysrx.com/-- is a specialty pharmaceutical company
that develops and commercializes innovative drugs and novel drug
delivery systems of therapeutic molecules that improve patients'
quality of life.  Using proprietary spray technology and
capabilities to develop pharmaceutical cannabinoids, INSYS is
developing a pipeline of products intended to address unmet medical
needs and the clinical shortcomings of existing commercial
products.  INSYS is committed to developing medications for
potentially treating anaphylaxis, epilepsy, Prader-Willi syndrome,
opioid addiction and overdose, and other disease areas with a
significant unmet need.

Insys Therapeutics reported a net loss of $124.50 million for the
year ended Dec. 31, 2018, compared to a net loss of $226.83 million
for the year ended Dec. 31, 2017.  As of Dec. 31, 2018, the Company
had $192.52 million in total assets, $235.62 million in total
liabilities, and a total stockholders' deficit of $43.10 million.

BDO USA, LLP, in Phoenix, Arizona, issued a "going concern"
qualification in its report on the Company's consolidated financial
statements for the year ended Dec. 31, 2018, citing that the
Company has suffered losses and negative cash flows from operations
and expects uncertainty in generating sufficient cash to meet its
legal obligations and settlements and sustain its operations.
These factors raise substantial doubt about the Company's ability
to continue as a going concern.


JLT HOLDINGS: Taps Barry B. Berk as Special Counsel
---------------------------------------------------
JLT Holdings, LLC seeks approval from the U.S. Bankruptcy Court for
the Northern District of Illinois to hire  Barry B. Berk of Law
Offices of Barry B. Berk as special counsel to close the sale of
the Debtor's real property located at 220 Garden Street, Building
C, Yorkville, Illinois, 60560.

The Debtor's sole secured lender, McCormick 101, LLC sought to
foreclose on 220 Garden in a mortgage foreclosure lawsuit in
Kendall County, Illinois—Case No. 2017CH000290 - filed on May 1,
2017. The Illinois Foreclosure Case remains pending, but was stayed
on the Petition Date.  

On or about March 11, 2019, the Debtor received an offer for the
purchase of 220 Garden from JK Property Holdings, LLC in the amount
of $570,000.00. The Offer slightly exceeds the appraised value of
220 Garden. After consulting with counsel, the Debtor accepted the
Offer on or about March 26, 2019 pending approval of this Court at
its hearing on the Debtor’s Motion to Approve Sale of 220 Garden
Street to JK Property Holdings, LCC Free and Clear of Liens and
Other Interests Pursuant to Section 363 of the Bankruptcy Code
[Docket No. 59] on April 10, 2019 or such continued date
thereafter.

Buyer seeks to close no later than April 30, 2019 an has expressed
its desire to close as soon as possible in the event this Court
grants the Sale Motion.

The Debtor and McCormick agree that Barry should be retained as
special counsel to represent the Debtor at the closing of the sale
of 220 Garden.

Barry will received a flat fee of $5,000.00 payable at closing.  

Barry B. Berk, Esq., founder of Law Offices of Barry B. Berk,
attests that Barry is a disinterest person as that term is defined
in section 101(14) of the Code, as stated in the court filing.

The counsel can be reached at:

     Barry B. Berk, Esq.
     Law Offices of Barry B. Berk
     53 West Jackson Boulevard, Suite 1002
     Chicago, IL 60604
     Phone: +1 312-431-6800

                About JLT Holdings

JLT Holdings, LLC owns properties located at 220 Garden Street,
Yorkville, Illinois; 4512 Deames Street, Plano, Illinois; and 1800
South Ocean Drive, Unit 3205, Hallandale, Florida.

JLT Holdings sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Ill. Case No. 18-33604) on Dec. 3, 2018.  At the
time of the filing, the Debtor estimated assets of $1 million to
$10 million and liabilities of $1 million to $10 million.  The case
has been assigned to Judge Benjamin A. Goldgar.  Adelman &
Gettleman, Ltd. is the Debtor's counsel.


JONES ENERGY: Fitch Cuts LT IDR to 'D' on Bankruptcy Filing
-----------------------------------------------------------
Fitch Ratings has downgraded the Long-Term Issuer Default Ratings
of Jones Energy Holdings LLC and Jones Energy, Inc. to 'D' from
'C'. Concurrently, Fitch has affirmed the ratings on the first lien
notes at 'CC'/'RR3' and the senior unsecured notes at 'C'/'RR6'.
This follows the company's announcement that Jones has filed for
bankruptcy in a prearranged chapter 11 case with the U.S.
Bankruptcy Court for the Southern District of Texas in Houston.

The company entered into a restructuring support agreement (RSA) on
April 3, 2019 with holders of approximately 92% in principal of its
first lien notes and 83% of the unsecured notes in which it plans
to equitize approximately $1 billion of funded debt. The Court has
set a deadline to vote to accept the plan on May 1, 2019, and Jones
expects to emerge from bankruptcy 14 days following confirmation of
the plan.

Holders of the 9.25% first lien notes due 2023 are expected to
receive 96% of new common equity while the 9.25% of 2023 and the
6.75% of 2022 unsecured notes will receive 4% of new common equity
plus new warrants exercisable for up to 15% equity stake. Certain
consenting parties have agreed to provide Jones with an exit
financing term loan facility. The loan will be in the form of a
senior secured delayed draw term loan in an aggregate principal
amount of up to $20 million. The RSA also allows Jones to obtain
alternative exit financing in lieu of the term loan in an aggregate
principal amount of up to $150 million.

KEY RATING DRIVERS

Entrance into RSA: The restructuring support agreement follows
negotiations with note holders that began in February 2018.
Disclosure from previous negotiations revealed that discussions
focused on leaving the first lien notes with the senior unsecured
note holders receiving $245 million of new 12% PIK second lien
notes and a certain percentage of the equity. Under the RSA, all
debt will be equitized with first lien note holders receiving 96%
of the new common stock and unsecured note holders receiving 4%.
Jones missed its March 15 coupon payment on its 9.25% first lien
notes due 2023 and its 9.25% senior unsecured notes due 2023,
triggering the 30 -day grace period. The company's 10-K filing also
contained language in which auditors raised substantial doubt about
Jones ability to continue as a going concern.

The restructuring reflects Jones declining production profile, an
inability to access capital to develop its reserves, a prolonged
period of low commodity prices, and minimal liquidity. Although oil
prices improved throughout most of 2018, the company was unable to
obtain drillco financing to develop its acreage.

Declining Production: Average daily production in the fourth
quarter was 22.2MBoe/d, which was 11% above the guidance midpoint.
In the first quarter of 2019, Jones is guiding production to
decline to 18.3 -20.3MBoe/d due to non-core asset sales, natural
PDP declines, and lack of meaningful contributions from new
completion activity. Jones is cutting its capex in 2019 to $60
million from $193 million in 2018. Fitch expects production to
decline throughout the year given the lack of drilling and
completion activity.

DERIVATION SUMMARY

Jones Energy's credit profile is weaker than high-yield peers on
several key metrics, including size, operational momentum and
leverage metrics. For fourth-quarter 2018, Jones' total production
of 22.0 mboe/d was materially less than peers Laredo Petroleum Inc.
(LPI; 70.7 mboe/d), Carrizo Oil & Gas Inc. (CRZO; 68.3 mboe/d), and
Extraction Oil & Gas, Inc. (XOG, B+; 85.8 mboe/d). Fitch expects
that production growth for Jones will lag peers, based primarily on
liquidity constraints. Jones' netback margin (cash netback/unhedged
revenue per boe) is below peers, driven primarily by its higher
interest costs of $10.9/boe. Jones' small production base
exacerbates the impact of interest costs when measured on a $/boe
basis. Fitch notes that the company's leverage was significantly
higher than peers in 2018. Jones' debt/flowing barrel of $50,727
exceeded that of LPI ($13,504), CRZO ($32,311) and XOG ($20,840).

Fitch's recovery analysis for Jones Energy uses both an asset value
based approach on observed transactions of like assets and a
going-concern (GC) approach, with the following assumptions:

  -- Transactional and asset based valuation such as recent
transactions for the Western Anadarko and Merge basins on a $/acre,
SEC PV-10, flowing production, and proved reserve estimates were
used to determine a reasonable sales price for the company's
assets. The valuations were further adjusted to reflect scale,
location, and asset quality. The valuations resulted in an average
of $357 million, which primarily reflects the lack of developed
reserves.

Assumptions for the going-concern approach include:

  -- Fitch assumed a bankruptcy scenario exit EBITDA of $53 million
and reflects the estimated base case 2019 scenario. Production and
operating data capture management guidance as provided in the
disclosure statement.

  -- GC enterprise value (EV) multiple of 7.0x versus a historical
energy sector multiple of 6.7x. The multiple reflects its
expectations Jones will have additional cash flow to productively
reinvest in its asset base following the equitization of debt. The
going-concern enterprise value of the company is $371 million.
Evercore Group L.L.C. provided a valuation analysis in the
disclosure statement that implied an EV range of $300 million -$400
million.

The GC enterprise value is used because it is higher than the
liquidation value. After administrative claims of 10%, there is
$334 million available to creditors. The first lien secured notes
is expected to receive a Recovery Rating of 'RR3'. The senior
unsecured notes are expected to only receive a minimal concession
allowance and would have a Recovery Rating of a 'RR6'.

KEY ASSUMPTIONS

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

  -- Base case WTI oil price stable at $57.50/barrel in 2019 and
2020, and $55.00 long term;

  -- Base case Henry Hub gas of 3.25/mcf in 2019, and $3.00/mcf
long-term price;

  -- Production decline of 26% in 2019 due to reduced capex
program;

  -- Capex of $60 million in 2019;

RATING SENSITIVITIES

Not applicable.

LIQUIDITY

Limited Liquidity: Jones liquidity consists of only $58 million of
cash as of December 2018. Revolver availability is $25 and provides
negligible liquidity support. With production expected to decline
in 2019, Fitch does not expect Jones will generate enough EBITDA to
cover interest payments and capex. In Fitch's view, Jones will
likely run out of cash unless the debt is restructured.

FULL LIST OF RATING ACTIONS

Jones Energy, Inc.

  -- Long-Term IDR downgraded to 'D' from 'C'.

Jones Energy Holdings, LLC

  -- Long-Term IDR downgraded to 'D' from 'C';

  -- First lien notes affirmed at 'CC'/'RR3';

  -- Senior unsecured notes affirmed at 'C'/'RR6'.


KENMETAL LLC: Taps Hansen Hunter & Co. as Financial Advisors
------------------------------------------------------------
Kenmetal, LLC, seeks approval from the U.S. Bankruptcy Court for
the Northern District of Georgia to hire Hansen Hunter & Co., P.C.
as its financial advisors.

HHC will perform certain accounting and financial advisory
services, but not limited to:

     a) healthcare consulting and reimbursement services,
including: Preparation of Medicare and Medicare cost reports,
billing and collections, general accounting, financial statements,
cash management and forecasting, and financial advisory;

     b) bankruptcy assistance work including but not limited to:
Assistance with preparation of statement of financial affairs and
schedules, cash collateral spreadsheets, monthly operating reports,
and other accounting and consulting services requested by the
Debtor and its counsel.

Hansen Hunter's billing rates are:

     Partner               $275.00
     Accountant            $150.00-$200.00
     Billing assistance    $125.00-$150.00
     Accounts Payable      $75.00 -$125.00

DeDe Nichols, shareholder of Hansen Hunter, attests that his firm
is a "disinterested person" as that term is defined in Section
101(14) of the Bankruptcy Code.

The firm can be reached at:

     DeDe Nichols
     Jeffrey S. Moore, CPA
     Hansen Hunter & Co., P.C.
     8930 SW Gemini Dr
     Beaverton, OR 97008, USA
     Phone: (800) 547-3159
     Email: jmoore@hhc-cpa.com

                      About Kenmetal LLC

Kenmetal, LLC, operates a 50-bed skilled nursing facility known as
the Kenwood Manor located at 502 West Pine Avenue, Enid, Oklahoma.

Kenmetal sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. N.D. Ga. Case No. 18-65903) on Sept. 21, 2018.  In the
petition signed by Christopher F. Brogdon, managing member, the
Debtor estimated assets and liabilities of less than $10 million.
The Debtor tapped Theodore N. Stapleton, Esq., of Theodore N.
Stapleton, P.C., as counsel.


KEYSTONE ACQUISITION: S&P Alters Outlook to Neg.,  Affirms 'B' ICR
------------------------------------------------------------------
S&P Global Ratings revised its outlook on Keystone Acquisition
Corp. (KEPRO) to negative from stable. At the same time, S&P
affirmed all of its ratings, including its 'B' long-term issuer
credit rating.

The outlook revision reflects KEPRO's underperformance versus S&P's
projections for 2018 and the pressure on the company's coverage and
leverage ratios. S&P expects the company to improve its coverage
and leverage metrics gradually, primarily through revenue and
EBITDA growth, as well as through potential discretionary debt
pay-down from excess cash on hand. However, the rating agency is
still uncertain as to whether KEPRO can improve its credit metrics,
because the company still doesn't have a definitive answer on the
renewal of one of its biggest contracts that is expiring on May 1,
2019.

"The negative outlook on KEPRO reflects slightly
weaker-than-anticipated earnings momentum that has led to
lower-than-expected interest coverage and higher leverage. Under
our base case, which incorporates low single-digit organic growth
plus around $11 million of revenue from the recent acquisition to
offset client losses from 2018 and a couple of down-sells, we
forecast slight delevering, with a debt-to-EBITDA ratio around 6.4x
in 2019," S&P said.  The rating agency also projects EBITDA
interest coverage to be around 1.8x in 2019.

"We could lower our ratings on KEPRO at any point in the next 12
months if the company is not awarded a similar volume of revenues
or unexpectedly loses multiple top clients. These events might put
leverage above our downside trigger point of 7x and interest
coverage below 2x," the rating agency said. S&P said it could also
lower the ratings if liquidity becomes constrained so that sources
fail to cover uses by at least 1.2x.

"We could affirm our current ratings on KEPRO and revise the
outlook to stable if the firm successfully refinances its debt to
decrease its interest expense and improve its EBITDA coverage,
while sustaining its revenue and EBITDA growth. Under this
scenario, we would expect coverage to be above 2x and leverage to
be around 6.4x," S&P said.

"An upgrade is unlikely in the next 12 months based on KEPRO's
narrow business scope and projected credit metrics. We could raise
our ratings if the company substantially grows and diversifies its
business with sustained lower leverage (below 5x) and higher
coverage (above 3x)," S&P said.


KHRL GROUP: Taps Cohesive Consulting Group as Consultant
--------------------------------------------------------
KHRL Group, LLC, and Papa Grande Gourmet Foods, LLC, seeks
authority from the U.S. Bankruptcy Court for the Western District
of Texas to hire Cohesive Consulting Group, LLC, as consultant.

Cohesive Consulting Group, LLC is to assist the Debtors with
obtaining refunds for overpaid state and local taxes and double
paid vendor expenses during the bankruptcy case. Debtors believe
there are in excess of $100,000 in refunds available.

Cohesive Consulting will receive 40% of Business Refunds identified
and recovered as compensation.

Doug Walten of Cohesive Consulting Group, LLC, assures the Court
that his firm is a "disinterested persons" as that term is defined
by 11 U.S.C. Sec. 101(14).

The firm can be reached at:

     Doug Walten
     Cohesive Consulting Group, LLC
     2025 Zumbehl Road, Suite 197
     St. Louis, MO 63303
     Phone: 314-805-7711

                         About Garcia Foods

Papa Grande Gourmet Foods, LLC, doing business as Garcia Foods --
http://garciafoods.com/-- is a producer of a growing line of
Mexican food products including tamales, fajitas, chorizo, shredded
chicken, picadillo, carne guisada, carnitas, chili, refried beans,
and rice.  The Garcia Foods was founded in 1956 by Andy Garcia.

KHRL Group, LLC, owns the real estate used in the business.

Affiliates KHRL Group, LLC, and Papa Grande Gourmet Foods filed
voluntary petitions seeking relief under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Tex. Case Nos. 19-50390 and 19-50391)
on Feb. 25, 2019.  Joint administration of the cases has been
requested.  In the petitions signed by Kenneth D. Garcia, member,
both debtors estimated their assets and liabilities under $10
million.  At the time of filing, both debtors estimated their
assets and liabilities under $10 million.  The Hon. Ronald B. King
is the case judge.  Ronald J. Smeberg, Esq., at The Smeberg Law
Firm, PLLC, is the Debtor's counsel.


KIA MOTORS: Guerra Alleges Defective 2.0 GDI Engine
---------------------------------------------------
ISODRO GUERRA, individually and on behalf of all others similarly
situated, Plaintiff v. KIA MOTORS AMERICA, INC.; and DOES 1 through
10, Defendants, Case No. 18:17-cv-838 (Cal. Super., Los Angeles
Cty., March 15, 2019) alleges that the Defendants' vehicle and its
2.0 gasoline direct injection (GDI) engine were defective and
susceptible to sudden and catastrophic failure.

The Plaintiff alleges in the complaint that the Defendants knew
since 2009, that the 2011-2019 KIA Optima, 2011-2019 KIA Sportage,
2012-2019 KIA Sorento, 2011-2019 Hyundai Sonata, and 2013-2019
Hyundai Santa Fe vehicles equipped with a 2.0 or 2.4L engine,
including the 2014 Kia Sorento contained one or more design and/or
manufacturing defects in their engines that results in the
restriction of oil flow through the connecting rod bearings, as
well as to other vital areas of the engine. This defect -- which
typically manifests itself during and shortly after the limited
warranty period has expired -- will cause the KIA Vehicle to
experience catastrophic engine failure, stalling while in operation
and poses an unreasonable safety risk of non-collision fires all
due to inadequate lubrication. Furthermore, engine seizure often
causes internal parts, such as the connecting rods, to break and a
knock hole in the engine, permitting fluids to leak and ignite a
fire.

Kia Motors America, Inc. operates as an automobile dealer. The
Company offers passenger cars, minivans, sports utility vehicles,
crossovers, sedans, vans, and cargo trucks. Kia Motors serves
customers worldwide. [BN]

The Plaintiff is represented by:

          Todd D. Carpenter, Esq.
          CARLSON LYNCH SWEET KILPELA
          & CARPENTER, LLP
          402 W Broadway, 29th Floor
          San Diego, CA 92101
          Telephone: (619) 756-6994
          Facsimile: (619) 756-6991
          E-mail: tcarpenter@carlsonlynch.com

               - and -

          Edwin J. Kilpela, Esq.
          1133 Penn Avenue, 5th Floor
          Pittsburgh, PA 15222
          Telephone: (412) 322-9243
          Facsimile: (412) 231-0246
          E-mail: ekilpela@carlsonlynch.com

               - and -

          Jason P. Sultzer, Esq.
          Adam Gonnelli, Esq.
          THE SULTZER LAW GROUP, P.C.
          85 Civic Center Plaza, Suite 104
          1 Poughkeepsie, NY 12601
          Telephone: (854) 705-9460
          Facsimile: (888) 749-7747
          E-mail: sultzerj@thesultzerlawgroup.com
                  Gonnellia@thesultzerlawgroup.com

               - and -

          Melissa W. Wolchansky, Esq.
          Amy E. Boyle, Esq.
          HALUNEN LAW
          1650 IDS Center, 80 South 8th Street
          Minneapolis, MN 55402
          Telephone: (612) 605-4098
          Facsimile: (612) 605-4099
          E-mail: Wolchansky@halunenlaw.com
                  boyle@halunenlaw.com

               - and -

          Bonner C. Walsh, Esq.
          PO Box 7
          WALSH PLLC
          Bly, OR 97622
          Telephone: (541) 359-2827
          Facsimile: (866) 503-8206
          E-mail: bonner@walshpllc.com



KINNECORPS LLC: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Kinnecorps, LLC
        11250 Falconhead Court
        Jacksonville, FL 32224

Business Description: Kinnecorps, LLC is a roofing and general
                      contractor based in Jacksonville, Florida.
                      It offers roof replacement and repair
                      services, residential construction,
                      commercial construction, and remodeling and
                      maintenance services.

Chapter 11 Petition Date: April 19, 2019

Court: United States Bankruptcy Court
       Middle District of Florida (Jacksonville)

Case No.: 19-01474

Debtor's Counsel: Jason A. Burgess, Esq.
                  THE LAW OFFICES OF JASON A. BURGESS, LLC
                  1855 Mayport Road
                  Atlantic Beach, FL 32233
                  Tel: 904-372-4791
                  Fax: 904-372-4994
                  E-mail: jason@jasonaburgess.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Roger Van Den Bosch, manager.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 20 largest unsecured creditors is available
for free at:

            http://bankrupt.com/misc/flmb19-01474.pdf


KMA TRANSPORT: Directed to File 2nd Amended Chapter 11 Plan
-----------------------------------------------------------
On January 8, 2019, a Chapter 11 Plan was filed in the Chapter 11
case of KMA Transport, LLC.  An objection to confirmation of that
Plan was filed by the Bankruptcy Administrator on February 14,
2019.  In that objection, the Bankruptcy Administrator raised
concerns about the lack of a separate Disclosure Statement or any
monthly reports having yet been filed.  Following a hearing on
February 19, 2019, this Court granted an extension of time in which
to confirm the Plan under Sections 1121(e) and 1129(e) of the
Bankruptcy Code and withdrew its Conditional Approval of Disclosure
Statement.

On March 5, 2019, the Debtor filed a Disclosure Statement (as well
as a quick succession of amendments) to accompany the original
Chapter 11 Plan filed on January 8, 2019 and a confirmation hearing
was scheduled for April 4, 2019.

On April 3, 2019, the Bankruptcy Administrator filed a Statement
Regarding Confirmation of Plan in which issues of feasibility were
raised.

At the April 4, 2019 hearing, counsel for the Debtor acknowledged
the feasibility concerns, orally withdrew the Plan, and indicated
the Debtor's belief that a new Plan -- one in which general
unsecured creditors were paid a smaller dividend on their claims --
would be filed.

Counsel for the Bankruptcy Administrator did not object to either
the withdrawal of the Plan and Second Amended Disclosure Statement
or the position held by Debtor's counsel that the small business
deadline imposed by 1129(e) would be restarted upon the filing of
the Second Plan.

Accordingly, the Court ordered that the Chapter 11 Plan filed on
January 8, 2019 and the Second Amended Disclosure Statement filed
on March 7, 2019 are both withdrawn.  The Debtor is required to
file a Second Plan and Disclosure Statement.

KMA Transport, LLC, filed a voluntary Chapter 11 petition (Bankr.
E.D.N.C. Case No. 19-00061) on January 7, 2019, and is represented
by Travis Sasser, Esq., at Sasser Law Firm.


LA CREMAILLERE: Case Summary & 10 Unsecured Creditors
-----------------------------------------------------
Debtor: La Cremaillere Restaurant Corp.
        PO Box 481
        Bedford, NY 10506

Business Description: La Cremaillere Restaurant Corp. --
                      http://www.cremaillere.com/menu.htm-- owns
                      and operates a French restaurant in Bedford,

                      New York.  The Menu at La Cremaillere
                      emphasizes fresh ingredients and changes
                      on daily, weekly, and seasonal basis.
                      Also available are its most celebrated
                      house ice creams and sorbets.

Chapter 11 Petition Date: April 17, 2019

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

Case No.: 19-22823

Judge: Hon. Robert D. Drain

Debtor's Counsel: H. Bruce Bronson, Jr., Esq.
                  BRONSON LAW OFFICES, P.C.
                  480 Mamaroneck Avenue
                  Harrison, NY 10528-0023
                  Tel: 877-385-7793
                  Fax: 888-908-6906
                  E-mail: ecf@bronsonlaw.net
                          hbbronson@bronsonlaw.net

Total Assets: $1,361,695

Total Liabilities: $2,035,865

The petition was signed by Barbara Meyzen, vice president.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 10 unsecured creditors is available for free
at:

           http://bankrupt.com/misc/nysb19-22823.pdf


LANDMARK LIFE: A.M. Best Affirms B(Fair) Financial Strength Rating
------------------------------------------------------------------
AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term
ICR) to "bb+" from "bb" and affirmed the Financial Strength Rating
(FSR) of B (Fair) of Landmark Life Insurance Company  (Brownwood,
TX). The outlook of the Long-Term ICR has been revised to stable
from positive while the FSR outlook remains stable.

The ratings reflect Landmark Life's balance sheet strength, which
AM Best categorizes as strong, as well as its marginal operating
performance, limited business profile and marginal enterprise risk
management (ERM).

The Long-Term ICR upgrade reflects an overall improvement in AM
Best's assessment of the company's ERM program. The new platform
should allow Landmark to manage risk identification more
effectively through additional evaluation of risk assessments,
along with mitigation efforts, with further monitoring for all
front line managers as well as high-level executives.

AM Best expects Landmark Life's risk-adjusted capitalization, as
measured by Best's Capital Adequacy Ratio (BCAR), to remain at the
strongest level over the medium term with recent improvements. AM
Best also views Landmark Life as having adequate liquidity to meet
any potential demands but could sustain some surplus strain
associated with its new ordinary life business as the company will
be retaining more of its new business beginning in 2019. A
partially offsetting balance sheet factor is the company's lack of
financial flexibility, which is limited given its relatively small
size and the current resources of its ownership.

Overall earnings have been marginal, with heavier reliance of late
on third-party administration (TPA) fee income, as direct ordinary
life premium growth has been lacking over the past several years.
Life earnings are projected to be lower in the near term as a
result of additional retention reaching 90%, along with significant
expansion initiatives in staffing and infrastructure; AM Best
expects Landmark to maintain moderate profitability during this
time period. Landmark's business profile is considered fairly
limited due to its predominantly narrow concentration in the
ordinary life final expense sector, which is considered
creditworthy, according to AM Best, with the majority of business
from a single agency. A positive offsetting factor is that the TPA
business provides a good supplement to earnings, but also is
heavily weighted toward a single client. Additional expansion
activity is underway to diversify the business and should continue
on its path of sustainable growth by leveraging a more diverse mix
of ordinary life and TPA operations.


LEGACY GROUP: Taps William F. McLaughlin as Attorney
----------------------------------------------------
The Legacy Group, Inc. Trustee of the 140905 Fish Funding Trust
seeks authority from the U.S. Bankruptcy Court for the Northern
District of California (Oakland) to hire William F. McLaughlin and
Craig V. Winslow of the Law Offices of William F. McLaughlin as
attorneys.

The Debtor requires the counsel to:

     (a) prepare and file schedules, statement of affairs and
related documents;

     (b) appear with the debtor at the initial debtor interview
with the Office of the United States Trustee and first meeting of
creditors;

     (c) prepare such orders as may be required, including motions
to employ professionals, motions to avoid preferences, motions to
sell real property, motions to assume or reject executory
contracts, motions to avoid liens and motions to compel turnover of
estate property;

     (d) prepare a disclosure statement and plan of reorganization
and appearance at proceedings related to the confirmation of a plan
of reorganization; and

     (e) assist debtor in the preparation and filing of required
operating reports prior to confirmation and quarterly reports post
confirmation as required.

The attorneys received an initial retainer of $12,000.00.

The attorney will bill for the legal services at the rate of
$400.00 per hour.

William F. McLaughlin and Craig V. Winslow attest that they are
disinterested as that term is defined in 11 U.S.C. Section 101(14),
and neither represent nor hold any interest adverse to the interest
of the bankruptcy estate.

The firm can be reached through:

     William F. McLaughlin, Esq.
     Law Offices of William F. McLaughlin
     1305 Franklin Street, Suite 311
     Oakland, CA 94612
     Tel: (510) 839-4456
     Email: mcl551@aol.COM

     Craig V. Winslow, Esq.
     Law Offices of William F. McLaughlin
     630 No. San Mateo Drive
     San Mateo, CA 94401
     Tel: (510) 839-4456
     Email: craig@cvwlaw.com

               About The Legacy Group, Inc.
            Trustee of the 140905 Fish Funding Trust

Based in Colorado Springs, Colorado, The Legacy Group, Inc. Trustee
of the 140905 Fish Funding Trust filed a petition under Chapter 11
of Title 11 of the United States Code (Bankr. N.D. Cal. Case No.
19-40575) on March 12, 2019, listing under $1 million in both
assets and liabilities. William F. McLaughlin at Law Offices of
William F. McLaughlin represents the Debtor as counsel. The case is
assigned to Judge Roger L. Efremsky.


LEGEND FARMS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Legend Farms Dairy, LLC
        N4679 State Hwy 42
        Kewaunee, WI 54216

Business Description: Legend Farms Dairy, LLC is a privately
                      held company in Kewaunee, Wisconsin that
                      operates in the dairy farming business.

Chapter 11 Petition Date: April 19, 2019

Court: United States Bankruptcy Court
       Eastern District of Wisconsin (Milwaukee)

Case No.: 19-23690

Judge: Hon. Beth E. Hanan

Debtor's Counsel: Virginia E. George, Esq.
                  STEINHILBER SWANSON LLP
                  107 Church Avenue
                  Oshkosh, WI 54901
                  Tel: 920-236-6690
                  Fax: 920-426-5530
                  E-mail: vgeorge@steinhilberswanson.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Keith A Duescher, sole member.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 20 largest unsecured creditors is available
for free at:

           http://bankrupt.com/misc/wieb19-23690.pdf


LEVEL SOLAR: Trustee Seeks Court Approval to Hire Maltz Auctions
----------------------------------------------------------------
Ronald Friedman, the Chapter 11 trustee for Level Solar Inc., seeks
approval from the U.S. Bankruptcy Court for the Southern District
of New York to hire an auctioneer.

The Debtor proposes to employ Maltz Auctions, Inc. to sell its
vehicle through a public auction.  The firm has agreed to accept
compensation in the form of a 10% buyer's premium except that if
the gross proceeds from the sale exceed $50,000, the premium must
conform to the rates set forth in Local Rule 6005-1(b)(i).  The
firm will receive reimbursement for work-related expenses.

Richard Maltz, chief executive officer of Maltz, attests that his
firm is "disinterested" within the meaning of Sections 101(14) and
327(a) of the Bankruptcy Code.

The firm can be reached through:

     Richard B. Maltz
     Maltz Auctions
     39 Windsor Place
     Central Islip, NY 11722
     Phone: 516-349-7022
     Fax: 516-349-0105

                About Level Solar Inc.

Based in New York, Level Solar Inc. operates under the solar-energy
installation industry.  Incorporated in 2013, the company has
operations in Long Island, New York City and Massachusetts.

Level Solar filed for bankruptcy protection (Bankr. S.D.N.Y. Case
No. 17-13469) on Dec. 4, 2017.  At the time of the filing, the
Debtor estimated assets of between $50 million and $100 million and
debt of between $1 million and $10 million.

Michael Conway, Esq., at Shipman & Goodwin LLP, is the Debtor's
bankruptcy counsel.  Akin Gump Strauss Hauer & Feld LLP serves as
corporate counsel.

Ronald J. Friedman, Esq., was appointed Chapter 11 trustee for the
Debtor.  The trustee tapped SilvermanAcampora LLP as his legal
counsel.


LOVESTER'S LLC: Case Summary & 2 Unsecured Creditors
----------------------------------------------------
Debtor: Lovester's, LLC
        14653 Caminito Lazanja
        San Diego, CA 92127

Business Description: Lovester's, LLC is a Single Asset Real
                      Estate Debtor (as defined in 11 U.S.C.
                      Section 101(51B)).  It owns a property
                      in Los Angeles, California having a
                      liquidation value of $2.42 million.

Chapter 11 Petition Date: April 19, 2019

Court: United States Bankruptcy Court
       Southern District of California (San Diego)

Case No.: 19-02257

Judge: Hon. Christopher B. Latham

Debtor's Counsel: David L. Speckman, Esq.
                  SPECKMAN & ASSOCIATES
                  1350 Columbia Street, Suite 503
                  San Diego, CA 92101
                  Tel: (619) 696-5151
                  E-mail: speckmanandassociates@gmail.com

Total Assets: $2,717,000

Total Liabilities: $3,133,313

The petition was signed by Ricardo E. Weichsel, member.

A full-text copy of the petition containing, among other items, a
list of the Debtor's two unsecured creditors is available for free
at:

          http://bankrupt.com/misc/casb19-02257.pdf


MABVAX THERAPEUTICS: Taps Baker Botts as Special Litigation Counsel
-------------------------------------------------------------------
MabVax Therapeutics Holdings, Inc. and MabVax Therapeutics, Inc.
seek authority from the U.S. Bankruptcy Court for the District of
Delaware to hire Baker Botts LLP as special litigation counsel.

The firm will represent MabVax Therapeutics Holdings in connection
with a potential lawsuit against a group of investors who have been
the subject of an investigation by the Securities and Exchange
Commission.  Baker Botts  will be paid pursuant to this
compensation arrangement:

  -- 39% of the net recovery, if any, up to $10 million;
  -- 33% of the net recovery, if any, above $10 million and up to
$20 million; and
  -- 27% of the net recovery, if any, above $20 million.

Jonathan Shapiro, Esq.,a partner at Baker Botts, attests that his
firm does not have interests adverse to the Debtors and their
estates.

The firm can be reached at:

     Jonathan A. Shapiro, Esq.
     Baker Botts L.L.P.
     101 California Street, Suite 3600
     San Francisco, CA 94111
     Phone:+1-415-291-6200
     Fax:+1-415-291-6300

           About MabVax Therapeutics

MabVax -- https://www.mabvax.com -- is a clinical-stage
biotechnology company with a fully human antibody discovery
platform focused on the rapid translation into clinical development
of products to address unmet medical needs in the treatment of
cancer.  Its lead clinical development candidate, HuMab-5B1, is a
fully human IgG1 monoclonal antibody (mAb) that targets sialyl
Lewis A (sLea), an epitope on CA19-9. CA19-9 is expressed in over
90% of pancreatic cancer (PDAC) and in other diseases including
small cell lung, colon and other GI cancers.

MabVax Therapeutics Holdings, Inc. and MabVax Therapeutics, Inc.
each filed a voluntary Chapter 11 petition (Bankr. D. Del. Case No.
19-10603 and 19-10604, respectively) on March 21, 2019.

At the time of filing, MabVax Therapeutics Holdings estimated
$100,000 to $500,000 in assets and $1 million to $10 million in
liabilities.  MabVax Therapeutics, Inc. estimated $50,000 in assets
and liabilities.

Jason A. Gibson, Esq., at the Rosner Law Group LLC, represents the
Debtors as bankruptcy counsel.


MABVAX THERAPEUTICS: Taps Block & Leviton as Special Counsel
------------------------------------------------------------
MabVax Therapeutics Holdings, Inc. and MabVax Therapeutics, Inc.
seek authority from the U.S. Bankruptcy Court for the District of
Delaware to retain Block & Leviton LLP as special litigation
counsel.

The firm will continue to represent the Debtors in a lawsuit they
filed against Sichenzia Ross Ference LLP, the Debtors' former legal
counsel.  The case is pending in the U.S. District Court for the
Southern District of California (Case No. 18-cv-02494).  

The compensation to be paid to Block & Leviton is one-third of the
amount recovered through judgment, settlement, arbitration award or
otherwise.

Joel Fleming, Esq., a partner at Block & Leviton, attests that his
firm does not represent nor hold any interest adverse to the
Debtors and their estates.

The firm can be reached at:

     Joel A Fleming, Esq.
     Block & Leviton LLP
     260 Franklin St Suite 1860
     Boston, MA 02110
     Phone: +1 617-398-5600

           About MabVax Therapeutics

MabVax -- https://www.mabvax.com -- is a clinical-stage
biotechnology company with a fully human antibody discovery
platform focused on the rapid translation into clinical development
of products to address unmet medical needs in the treatment of
cancer.  Its lead clinical development candidate, HuMab-5B1, is a
fully human IgG1 monoclonal antibody (mAb) that targets sialyl
Lewis A (sLea), an epitope on CA19-9. CA19-9 is expressed in over
90% of pancreatic cancer (PDAC) and in other diseases including
small cell lung, colon and other GI cancers.

MabVax Therapeutics Holdings, Inc. and MabVax Therapeutics, Inc.
each filed a voluntary Chapter 11 petition (Bankr. D. Del. Case No.
19-10603 and 19-10604, respectively) on March 21, 2019.

At the time of filing, MabVax Therapeutics Holdings estimated
$100,000 to $500,000 in assets and $1 million to $10 million in
liabilities.  MabVax Therapeutics, Inc. estimated $50,000 in assets
and liabilities.

Jason A. Gibson, Esq., at the Rosner Law Group LLC, represents the
Debtors as bankruptcy counsel.


MARKET STREET: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Market Street Development, Inc.
        45343 Market Street
        Shelby Township, MI 48315

Business Description: Market Street Development, Inc. is a
                      Single Asset Real Estate Debtor (as defined
                      in 11 U.S.C. Section 101(51B)).

Chapter 11 Petition Date: April 18, 2019

Court: United States Bankruptcy Court
       Eastern District of Michigan (Detroit)

Case No.: 19-45966

Judge: Hon. Maria L. Oxholm

Debtor's Counsel: Robert N. Bassel, Esq.
                  ROBERT N. BASSEL
                  P.O. Box T
                  Clinton, MI 49236
                  Tel: (248) 677-1234
                  Fax: (248) 369-4749
                  E-mail: bbassel@gmail.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Vincent DiLorenzo, principal.

The Debtor failed to include in the petition a list of its 20
largest unsecured creditors.

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

          http://bankrupt.com/misc/mieb19-45966.pdf


MEEKER NORTH: Taps Hansen Hunter as Financial Advisor
-----------------------------------------------------
Meeker North Dawson Nursing, LLC received approval from the U.S.
Bankruptcy Court for the Northern District of Georgia to hire
Hansen Hunter & Co., P.C. as its financial advisor.

Hansen Hunter  will provide these accounting and financial advisory
services:

     a) healthcare consulting and reimbursement services, including
the preparation of Medicare and Medicare cost reports, billing and
collections, general accounting, financial statements, cash
management and forecasting, and financial advisory;

     b) bankruptcy assistance work, including assistance with the
preparation of statement of financial affairs and schedules, cash
collateral spreadsheets, monthly operating reports, and other
accounting and consulting services requested by the Debtor and its
counsel.

Hansen Hunter's hourly rates are:

     Partner               $275
     Accountant            $150 - $200
     Billing assistance    $125 - $150
     Accounts Payable      $75 - $125

DeDe Nichols, a shareholder of Hansen Hunter, attests that the firm
is a "disinterested person" as that term is defined in Section
101(14) of the Bankruptcy Code.

The firm can be reached at:

     DeDe Nichols
     Jeffrey S. Moore, CPA
     Hansen Hunter & Co., P.C.
     8930 SW Gemini Dr
     Beaverton, OR 97008, USA
     Phone: (800) 547-3159
     Email: jmoore@hhc-cpa.com

                About Meeker North Dawson Nursing

Meeker North Dawson Nursing, LLC, sought protection under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 18-56883) on
April 24, 2018.  In the petition signed by Christopher F. Brogdon,
managing member, the Debtor estimated assets of less than $50,000
and liabilities of less than $1 million.  

The Debtor tapped Theodore N. Stapleton P.C. as its bankruptcy
counsel, and Synergy Healthcare Resources, LLC as its financial
advisor.

Daniel McDermott, the U.S. Trustee for Region 21, appointed William
J. Whited as the patient care ombudsman in the Debtor's bankruptcy
case.


MICROVISION INC: Incurs $8.1 Million Net Loss in First Quarter
--------------------------------------------------------------
MicroVision, Inc., issued a press release on April 17, 2019
announcing its first quarter 2019 results.

Revenue for the first quarter of 2019 was $1.9 million, compared to
$2.2 million for the first quarter of 2018.  MicroVision's net loss
for the first quarter of 2019 was $8.1 million, or $0.08 per share,
compared to a net loss of $7.1 million, or $0.09 per share for the
first quarter of 2018.

"We remain on track with our business plan and are working to have
products in the market in the second half of this year.  We expect
the development portion of our April 2017 agreement with a leading
technology company to be completed in Q2 and we expect orders for
production units shortly.  We are also encouraged by the progress
that our display-only license partner has made with a Tier 1 North
American OEM," said Perry Mulligan, MicroVision's chief executive
officer.  "Additionally, our interactive display module has
attracted interest from several Tier 1 OEMs," Mulligan added.

                       About MicroVision

Based in Redmond, Washington, MicroVision, Inc. --
http://www.microvision.com/-- is the creator of PicoP scanning
technology, an ultra-miniature laser projection and sensing
solution for mobile consumer electronics, automotive head-up
displays and other applications.  PicoP scanning technology is
based on the Company's patented expertise in micro-electrical
mechanical systems (MEMS), laser diodes, opto-mechanics, and
electronics and how those elements are packaged into a small form
factor, low power scanning engine that can display, interact and
sense, depending on the needs of the application.

MicroVision reported a net loss of $27.25 million for the year
ended Dec. 31, 2018, compared to a net loss of $25.48 million for
the year ended Dec. 31, 2017.  As of Dec. 31, 2018, the Company had
$23.03 million in total assets, $18.91 million in total
liabilities, and $4.11 million in total shareholders' equity.

Moss Adams LLP, in Seattle, Washington, issued a "going concern"
qualification in its report on the Company's consolidated financial
statements for the year ended Dec. 31, 2018.  The auditors noted
that the Company has suffered recurring losses from operations and
has an accumulated deficit that raise substantial doubt about its
ability to continue as a going concern.


MICROVISION INC: Signs $11 Million Stock Purchase Agreement
-----------------------------------------------------------
MicroVison, Inc., entered into a purchase agreement with Lincoln
Park Capital Fund, LLC on April 17, 2019, pursuant to which the
Company has the right to sell to Lincoln Park up to $11,000,000 of
shares of its common stock, including the initial purchase of
$1,000,000 at a purchase price of $0.9821 per share, at the
Company's discretion over the next 24 months, subject to the
conditions and limitations set forth in the Purchase Agreement. As
consideration for entering into the Purchase Agreement, the Company
agreed to issue 250,000 shares of its common stock to Lincoln Park
as a commitment fee.

In addition to the Initial Purchase of $1,000,000 of shares of the
Company's common stock, under the Purchase Agreement, from time to
time on any trading day the Company selects, the Company has the
right, in its sole discretion, subject to the conditions and
limitations in the Purchase Agreement, to direct Lincoln Park to
purchase up to 150,000 shares of its common stock over the 24-month
term of the Purchase Agreement; provided, however, that such limit
may be increased to up to 200,000 shares if the last closing sale
price of its common stock is at least $1.25 on the purchase date,
up to 250,000 shares if the last closing sale price of its common
stock is at least $1.75 on the purchase date, up to 300,000 shares
if the last closing sale price of its common stock is at least
$2.50 on the purchase date, and up to 400,000 shares if the last
closing sale price of its common stock is at least $3.00 on the
purchase date (each subject to adjustment for any reorganization,
recapitalization, non-cash dividend, stock split, reverse stock
split or other similar transaction as provided in the Purchase
Agreement).  The purchase price for shares of common stock to be
purchased by Lincoln Park will be the equal to lesser of (i) the
lowest sale price on the purchase date, as reported by Nasdaq, or
(ii) the arithmetic average of the three lowest closing sale prices
for its common stock during the ten trading days prior to the
purchase date.  Lincoln Park's obligation under each Regular
Purchase shall not exceed $1,500,000.  The timing and amount of the
Regular Purchases can be modified upon the mutual agreement of the
Company and Lincoln Park.

The Company can also direct Lincoln Park to purchase additional
amounts as accelerated purchases, under certain circumstances and
provided the last closing sale price of the Company's common stock
is at least $0.50 per share, in an amount up to the lesser of (i)
three times the number of shares purchased pursuant to such Regular
Purchase or (ii) 30% of the trading volume on such accelerated
purchase date.  The purchase price for the additional shares is the
lower of:

   * the closing sale price for the common stock on the date of
     sale; and

   * 97% of the volume weighted average price of the common stock
     on the Nasdaq Global Market on the date of sale.

There is no upper or lower limit on the price per share that
Lincoln Park must pay for the Company's common stock under the
Purchase Agreement.

Other than as described above, there are no trading volume
requirements or restrictions under the Purchase Agreement.  The
Company will control the timing and amount of any sales of its
common stock to Lincoln Park.  The Company may at any time, in its
sole discretion terminate the Purchase Agreement without fee,
penalty or cost, upon one trading day written notice.

The Purchase Agreement limits the Company's sales of shares of
common stock to Lincoln Park to 20,410,708 shares of common stock,
representing 19.99% of the shares of common stock outstanding on
the date of the Purchase Agreement (which number of shares shall be
reduced, on a share-for-share basis, by the number of shares of
common stock issued or issuable pursuant to any transaction or
series of transactions that may be aggregated with the transactions
contemplated by the Purchase Agreement under applicable Nasdaq
rules, unless (i) shareholder approval is obtained to issue more
than such amount or (ii) the average price of all applicable sales
of the Company's common stock to Lincoln Park under the Purchase
Agreement equals or exceeds the greater of book or market value of
its common stock as calculated in accordance with applicable Nasdaq
rules.

The Purchase Agreement also prohibits the Company from directing
Lincoln Park to purchase any shares of common stock if those
shares, when aggregated with all other shares of the Company's
common stock then beneficially owned by Lincoln Park and its
affiliates, would result in Lincoln Park and its affiliates having
beneficial ownership, at any single point in time, of more than
4.99% of the then total outstanding shares of its common stock, as
calculated pursuant to Section 13(d) of the Securities Exchange Act
of 1934, as amended, and Rule 13d-3 thereunder.

The Purchase Agreement does not limit the Company's ability to
raise capital from other sources at its sole discretion, provided,
however, that the Company shall not enter into any "Variable Rate
Transaction" as defined in the Purchase Agreement, including the
issuance of any floating conversion rate or variable priced
equity-like securities during the 24 months after the date of the
Purchase Agreement, as long as Lincoln Park holds more than 50,000
shares of its common stock.

Events of default under the Purchase Agreement include the
following:

  * the effectiveness of the registration statement lapses for
    any reason (including, without limitation, the issuance of a
    stop order), or the prospectus supplement and accompanying
    prospectus are unavailable for sale by the Company or the
    resale by Lincoln Park of its common stock offered thereby,
    and such lapse or unavailability continues for a period of
    ten consecutive business days or for more than an aggregate
    of thirty business days in any 365-day period;

  * the suspension of the Company's common stock from trading or
    the failure of the Company's common stock to be listed on
    Nasdaq for a period of one business day;

  * the delisting of the Company's common stock from Nasdaq;
    provided, however, that its common stock is not immediately
    thereafter trading on the New York Stock Exchange, the
    Nasdaq Capital Market, the Nasdaq Global Select Market, the
    NYSE American, the NYSE Arca, the OTC Bulletin Board, or the
    OTCQX or OTCQB operated by the OTC Markets Group, Inc. (or
    nationally recognized successor to any of the foregoing);

  * the failure for any reason by the transfer agent to issue
    shares to Lincoln Park within three business days after the
    applicable purchase date on which Lincoln Park is entitled
    to receive such securities;

  * any breach of the representations and warranties or
    covenants contained in the Purchase Agreement or any related
    agreements with Lincoln Park if such breach would reasonably
    be expected to have a material adverse effect and such
    breach is not cured within five trading days;

  * the Company's insolvency or its participation or threatened
    participation in insolvency or bankruptcy proceedings by or
    against the Company, as more fully described in the Purchase
    Agreement;

  * if at any time the Company is not eligible to transfer its
    common stock electronically via DWAC; or

  * if at any time after the commencement date, the Exchange Cap
    is reached, to the extent it is applicable.

Lincoln Park does not have the right to terminate the Purchase
Agreement upon any of the events of default.  During an event of
default, all of which are outside the control of Lincoln Park,
shares of the Company's common stock cannot be sold by the Company
or purchased by Lincoln Park under the terms of the Purchase
Agreement.

The Company has the right to terminate the Purchase Agreement at
any time, at no cost to it.  In the event of bankruptcy proceedings
by or against the Company, the Purchase Agreement will
automatically terminate without action of any party.
The Purchase Agreement contains customary representations,
warranties and agreements of the Company and Lincoln Park,
limitations and conditions to completing future sale transactions,
indemnification rights and other obligations of the parties.
Actual sales of shares of common stock to Lincoln Park under the
Purchase Agreement will depend on a variety of factors to be
determined by the Company from time to time, including (among
others) market conditions, the trading price of the Company's
common stock and determinations by the Company as to other
available and appropriate sources of funding for the Company.

Concurrently with entering into the Purchase Agreement, the Company
also entered into a registration rights agreement with Lincoln
Park, pursuant to which the Company agreed to file a prospectus
supplement pursuant to Rule 424(b) relating to the sale of the
shares of the Company's common stock that have been and may be
issued to Lincoln Park under the Purchase Agreement pursuant to the
Company's existing shelf registration statement or a new
registration statement and use its reasonable best efforts to keep
such registration statement effective until the earlier of (i) the
date on which Lincoln Park shall have sold all the Purchase Shares
and (ii) the earlier of (A) 180 days following the first day of the
month immediately following the 24 month anniversary of the
commencement date and (B) the nine months following the termination
of the Purchase Agreement.

The offer and sale of the shares under the Purchase Agreement was
made pursuant to the Company's registration statement on Form S-3
(SEC File No. 333-228113), which was declared effective by the SEC
on Nov. 13, 2018, and pursuant to the prospectus supplement filed
on April 17, 2019.

The Company intends to use the net proceeds from this offering to
for general corporate purposes, which may include, but are not
limited to, working capital and capital expenditures.  Pending the
application of the net proceeds, the Company expects to invest the
proceeds in investment-grade, interest-bearing instruments or other
securities.

                        About MicroVision

Based in Redmond, Washington, MicroVision, Inc. --
http://www.microvision.com/-- is the creator of PicoP scanning
technology, an ultra-miniature laser projection and sensing
solution for mobile consumer electronics, automotive head-up
displays and other applications.  PicoP scanning technology is
based on the Company's patented expertise in micro-electrical
mechanical systems (MEMS), laser diodes, opto-mechanics, and
electronics and how those elements are packaged into a small form
factor, low power scanning engine that can display, interact and
sense, depending on the needs of the application.

MicroVision reported a net loss of $27.25 million for the year
ended Dec. 31, 2018, compared to a net loss of $25.48 million for
the year ended Dec. 31, 2017.  As of Dec. 31, 2018, the Company had
$23.03 million in total assets, $18.91 million in total
liabilities, and $4.11 million in total shareholders' equity.

Moss Adams LLP, in Seattle, Washington, issued a "going concern"
qualification in its report on the Company's consolidated financial
statements for the year ended Dec. 31, 2018.  The auditors noted
that the Company has suffered recurring losses from operations and
has an accumulated deficit that raise substantial doubt about its
ability to continue as a going concern.


MIDTOWN INVESTMENT: Taps Border Law as Legal Counsel
----------------------------------------------------
Midtown Investment Group Inc. received approval from the U.S.
Bankruptcy Court for the Eastern District of Michigan to hire
Border Law PLLC as its legal counsel.

The firm will advise the Debtor of its powers, rights and duties
under the Bankruptcy Code; assist in the sale of its assets; review
claims of creditors; assist in the preparation and implementation
of a bankruptcy plan; and provide other legal services in
connection with its Chapter 11 case.

The firm received a retainer in the amount of $1,236 from the
Debtor.

Brett Border, Esq., at Border Law, disclosed in court filings that
he and other members of the firm are "disinterested" as defined in
Section 101(14) of the Bankruptcy Code.

Border Law can be reached through:

        Brett A. Border, Esq.
        Border Law PLLC
        24725 West 12 Mile Road, Suite 110
        Southfield, MI 48034
        Tel: 248-945-1111
        E-mail: bablawpllc@outlook.com
                bborder@savedme.com

                 About Midtown Investment Group

Midtown Investment Group Inc. sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. E.D. Mich. Case No. 19-44507) on March
26, 2019.  At the time of the filing, the Debtor estimated assets
and liabilities of less than $500,000.  The case is assigned to
Judge Marci B. Mcivor.  Border Law PLLC is the Debtor's legal
counsel.



MOUNTAIN PROVINCE: Fitch Affirms LT IDR at 'B', Outlook Stable
--------------------------------------------------------------
Fitch Ratings has affirmed Mountain Province Diamonds Inc.'s (MPVD)
Long-Term Issuer Default Rating at 'B' with a Stable Outlook.

Mountain Province's rating reflects its relatively small size,
concentrated operations with exposure to a single commodity, short
operating history offset by mining operations located in a
favorable jurisdiction and an experienced operator, low financial
leverage, strong margins and expectations of FCF generation over
the tenor of the notes. The rating is supported by a relatively
steady production profile over the tenor of the notes and the
potential to add resources and extend the life of mine (LOM) plan.

KEY RATING DRIVERS

Stable Production Profile: The Gahcho Kue (GK) mine is located in
Canada's Northwest Territories, which represents a mining-friendly
and politically stable jurisdiction. MPVD has a limited track
record with the GK mine declaring commercial production on March 1,
2017, although De Beers, the majority owner and operator of the GK
mine, having extensive mining operating history helps mitigate
risk. MPVD's small size and limited operating history is also
offset by a relatively long initial LOM plan, which extends to
2028. Additionally, all mining at the GK mine is currently open
pit, reducing operational risk.

Strong Margins: Around 70% of revenue is generated by larger higher
quality diamonds which are less susceptible to price pressures
currently being felt by the smaller lower quality diamond market.
MPVD benefits from strong EBITDA margins driven by relatively high
grade and low cost mining. Solid margins and manageable capital
spending is expected to result in relatively steady FCF generation
which helps support MPVD's liquidity profile. Fitch expects MPVD's
current mine plan, at stable prices, to generate FCF averaging
around CAD50 million-CAD60 million over the next four years.

Production Tail: Production and grade at the GK mine have
outperformed management's expectations in 2018 although this is
somewhat offset by higher than expected costs. Fitch expects
production to average around 3.3 million carats (on a 49% basis)
through 2022. Absent mine extensions and/or the development of
Kennady, production is expected to begin to tail off in 2023 to
below 2.7 million carats and decline sharply thereafter.

Kennady Provides Potential Flexibility: On April 13, 2018, MPVD
completed its all-share acquisition of Kennady Diamonds, an
advanced diamond exploration project. The acquisition adds 13.62
million carats of indicated resources and 5.02 million carats of
inferred resources. It also adds a 100% interest in exploration
property strategically surrounding the GK Mine. Incorporating
Kennady into the GK joint venture would add operational flexibility
and could help offset a period of relatively low grade mining as
Tuzo ramps up production in 2021. Fitch would view the addition of
Kennady into the mine plan as credit-positive given it provides the
opportunity to extend the mine life and complements the GK mine
assets well.

Exploration Projects: Exploration at the GK mine began in the
second half of 2017 with the goal of identifying additional
resources. Kimberlite discoveries within the present mine area at
the Southwest Corridor and Northeast Pipe Extension, offer
relatively high-probability and potential near-term opportunities
to add carats and extend the mine life at the GK mine.

Low Leverage: Fitch expects total net debt/EBITDA to peak in 2019
at around 2.8x driven mainly by expectations for lower average
prices and higher costs due to production mix. Fitch expects net
leverage to decline thereafter with stronger earnings and the
accumulation of cash in advance of the maturity of the notes. MPVD
prepaid $20 million of its senior secured notes in its first full
year of operations in 2018. Fitch views management's prudent
approach to debt repayment following cash flow generation as
supportive to its credit profile.

Dividend: MPVD decided to pay a dividend of CAD8.4 million in Q2
2018, although is taking a flexible approach with debt repayment
also a high priority. Fitch expects any dividend payments, which
are limited by covenants in the credit agreement, to be nominal.

DERIVATION SUMMARY

MPVD has higher margins than Canadian-based diamond miner Dominion
Diamond Mines ULC (DD; B+/Negative), although DD compares favorably
in terms of size, mineral reserves and leverage metrics. MPVD is
significantly smaller than Russian-based leading global diamond
producer PJSC Alrosa (Alrosa; BBB-/Stable). Alrosa accounts for
over 25% of global diamond production, has low cash costs, robust
margins and very conservative financial leverage. Gold miner Gran
Colombia (B/Stable) has more favorable leverage metrics although
has lower margins and higher country risk compared with MPVD. First
Quantum (FQM; B/Stable) is considerably larger than MPVD in terms
of EBITDA although FQM has significantly higher leverage and
generates the majority of its revenue in Zambia, which Fitch views
as a challenging operating environment for miners. Iron pellet
producer Ferrexpo (B+/Stable) is larger and has favorable leverage
metrics compared with MPVD; however, Ferrexpo's credit quality is
constrained by the operating environment in Ukraine.

KEY ASSUMPTIONS

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

  -- Flat average diamond prices;

  -- Production averaging 3.3 million carats per year (on a 49%
basis) through 2022;

  -- Grade roughly in line with 2018;

  -- No dividends or share repurchases.

The recovery analysis assumes MPVD would be considered a going
concern in bankruptcy and that the company would be reorganized
rather than liquidated.

Assumptions for the going-concern (GC) approach include:
Fitch's assumed a bankruptcy scenario exit GC EBITDA of CAD110
million. The EBITDA estimate is reflective of variable production
levels that tend to fluctuate with kimberlite mix shifts and could
potentially heighten refinancing risk.

Fitch applies EBITDA multiples that generally range from 4.0x-6.0x
for mining issuers given the cyclical nature of commodity prices.
MPVD's 4.0x multiple is at the low end of the range reflecting its
short operating history and concentration in a single commodity.

Fitch applies a going concern EBITDA of CAD110 million and a 4.0x
enterprise value multiple which results in an enterprise value of
CAD440 million and compares closely to Fitch's estimated
liquidation value. Fitch has assumed the revolving credit facility
is fully drawn and a 10% administrative claim in the recovery
analysis. Fitch's recovery analysis results in a 100% recovery for
the 1st lien senior secured revolver (BB/RR1) and a 78% recovery
for the 2nd lien senior secured notes (BB-/RR2).

RATING SENSITIVITIES

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

  -- Expectations of FCF generation on average beyond 2022;

  -- FFO net leverage sustained above 2.0x;

  -- Improved production profile driven by additional resources
economically added to the LOM plan.

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

  -- Diamond prices materially decline;

  -- Expectations for negative FCF in consecutive years;

  -- FFO net leverage expected to be sustained above 3.5x;

  -- Inability to refinance or raise equity to pay the 2022 notes.


LIQUIDITY

Adequate Liquidity: As of Dec. 31, 2018, MPVD had cash and cash
equivalents of $22.5 million. MPVD also had full availability under
its $50 million first lien secured revolving credit facility
maturing in 2022. Fitch forecasts MPVD will generate positive FCF,
which will be sufficient to fund working capital and relatively
moderate capex.

FULL LIST OF RATING ACTIONS

Fitch has affirmed the following ratings:

Mountain Province Diamonds Inc.

  -- Issuer Default Rating at 'B';

  -- First lien senior secured revolving credit facility at
'BB'/'RR1';

  -- Second lien senior secured notes at 'BB-'/'RR2'.

The Rating Outlook is Stable.


NEONODE INC: Two Board Members to Resign in June
------------------------------------------------
Each of Asa Hedin and Per Eriksson provided notice that they intend
to resign as members of the Board of Directors of Neonode Inc.
effective at the conclusion of the 2019 Annual Meeting of
Stockholders scheduled to be held on June 5, 2019.  Ms. Hedin
currently serves on the Audit Committee of the Board.

Prior to or concurrent with the resignations of Ms. Hedin and Mr.
Eriksson, the Board of Directors expects to appoint Mattias Bergman
and Peter Lindell as members of the Board.  Each of Mr. Bergman and
Mr. Lindell is anticipated to be independent directors, and Mr.
Lindell is anticipated to join the Audit Committee of the Board.

Peter Lindell currently serves as chairman and board member in
several companies where he also is an owner.  He is chief executive
officer of Cidro Holding, a private holding company, and Chairman
of Rite Internet Ventures Holding, Innohome OY, Frank Dandy Holding
AB and Acervo AB.  He also is a board member of Packet Front
Software AB and Storevision Holding AB.  Mr. Lindell has worked in
the private equity market for twenty years as an investor and board
member.  He previously worked in the information technology and
computer industry in various management positions.  Mr. Lindell,
has an MSc in Industrial Engineering and Management from the
Institute of Technology, Linkoping, Sweden.

Mattias Bergman currently is chief executive officer of BIL Sweden,
an industry association for Swedish manufacturers and importers of
passenger cars, buses and trucks.  He previously served for six
years as the president of NEVS, a developer and manufacturer of
electric vehicles and mobility services.  Prior to NEVS, Mr.
Bergman held the position of vice president of Springtime, a
Swedish public relations and communication agency where he expanded
its international presence including into China and India.  From
1991 to 2010, he held different leading roles in the Swedish Trade
Council (today called Business Sweden) and rotated in China, Japan
and Korea.  He started his career with Electrolux in Sweden and
Malaysia.  Mr. Bergman holds a Global Executive MBA from Copenhagen
Business School/INSEAD and a BA from Stockholm University

"We are pleased that Peter and Mattias are able to join our Board
of Directors and add their experience to the collective knowledge
of Neonode," said Ulf Rosberg, chairman of the Board.  "We also
thank Asa and Per for their contributions to our company as
directors."

On Dec. 20, 2018, the Company entered into a Share Purchase
Agreement with investors as part of a private placement pursuant to
which it issued a total of 2,940,767 shares of its common stock at
a price of $1.60 per share for an aggregate of $4.7 million in
gross proceeds.  The investors included Mr. Lindell, a
more-than-five-percent-owner of the Company's common stock, who
purchased 1,117,783 shares in the private placement.

                       About Neonode

Neonode Inc. (NASDAQ:NEON) -- http://www.neonode.com/-- develops,
manufactures and sells advanced sensor modules based on the
company's proprietary zForce AIR technology.  Neonode zForce AIR
Sensor Modules enable touch interaction, mid-air interaction and
object sensing and are ideal for integration in a wide range of
applications within the automotive, consumer electronics, medical,
robotics and other markets.  The company also develops and licenses
user interfaces and optical interactive touch solutions based on
its patented zForce CORE technology.  To date, Neonode's technology
has been deployed in approximately 67 million products, including 4
million cars and 63 million consumer devices.  The company is
headquartered in Stockholm, Sweden and was established in 2001.

Neonode reported a net loss attributable to the Company of $3.06
million for the year ended Dec. 31, 2018, compared to a net loss
attributable to the Company of $4.70 million for the year ended
Dec. 31, 2017.  As of Dec. 31, 2018, Neonode had $13.24 million in
total assets, $3.44 million in total liabilities, and $9.79 million
in total stockholders' equity.

"We have experienced substantial net losses in each fiscal period
since our inception.  These net losses resulted from a lack of
substantial revenues and the significant costs incurred in the
development and acceptance of our technology.  Our ability to
continue as a going concern is dependent on our ability to
implement our business plan.  If our operations do not become cash
flow positive, we may be forced to seek sources of capital to
continue operations.  No assurances can be given that we will be
successful in obtaining such additional financing on reasonable
terms, or at all. If adequate funds are not available when needed
on acceptable terms, or at all, we may be unable to adequately fund
our business plan, which could have a negative effect on our
business, results of operations, and financial condition," the
Company said in its Annual Report on Form 10-K for the year ended
Dec. 31, 2018.


NEOVASC INC: Resolves Last Remaining Active Litigation
------------------------------------------------------
Neovasc Inc. has resolved three claims for correction of patent
inventorship made by Edwards Lifesciences CardiAQ LLC in the U.S.
District Court for the District of Massachusetts.

For reasons of efficiency and economy, and without reaching the
merits of the dispute, the parties agreed to a judgment ordering
CardiAQ's Jeremy Brent Ratz and Arshad Quadri be added as
co-inventors of U.S. Patent No. 9,241,790, U.S. Patent No.
9,248,014 and U.S. Patent No. 9,770,329, which the Court ordered.
Each of these patents is directly related to and claims priority to
the patent application that led to U.S. Patent No. 8,579,964, on
which the Court had previously added Mr. Ratz and Dr. Quadri as
co-inventors in November, 2016.  In summary:

   * Each side agreed to bear its own fees and costs in the
     matter;

   * No money damages were at issue or awarded; and

   * The addition of inventors will not restrict Neovasc from
     practicing these patents going forward.

"We have been working diligently to clear the Company from a number
of claims and the conclusion of this matter is also the conclusion
of the last active claims that the Company is aware of," commented
Fred Colen, Neovasc CEO.  "The German Appeals Court win provided us
with further strategic options to resolve these claims and we have
maintained the rights to practice our entire Tiara patent portfolio
of 10 granted U.S. patents and 16 pending U.S. patents in order to
preserve the unique and proprietary nature of our Tiara system.  We
will also continue to add to this portfolio as we seek to optimize
our transapical design and protect our transfemoral, transseptal
version of the Tiara."

                        About Neovasc Inc.

Based in Richmond, British Columbia, Neovasc Inc. --
http://www.neovasc.com/-- is a specialty medical device company
that develops, manufactures and markets products for the rapidly
growing cardiovascular marketplace.  Its products include the
Neovasc Reducer, for the treatment of refractory angina, which is
not currently available in the United States and has been available
in Europe since 2015, and the Tiara, for the transcatheter
treatment of mitral valve disease, which is currently under
clinical investigation in the United States, Canada and Europe.

Neovasc reported a net loss of US$108.04 for the year ended Dec.
31, 2018, compared to a net loss of US$22.90 million for the year
ended Dec. 31, 2017.  As of Dec. 31, 2018, Neovasc had US$11.99
million in total assets, US$21.66 million in total liabilities, and
a total deficit of US$9.66 million.

Grant Thornton LLP, in Vancouver, BC, the Company's auditor since
2002, issued a "going concern" opinion in its report on the
Company's consolidated financial statements for the year ended Dec.
31, 2018, stating that the Company incurred a net loss of
$108,042,868 during the year ended Dec. 31, 2018, and as of that
date, the Company's liabilities exceeded its assets by $9,666,884.
These conditions, along with other matters, raise substantial doubt
about the Company's ability to continue as a going concern.


NORTH GWINNETT: Taps Jones Lang Lasalle as Real Estate Broker
-------------------------------------------------------------
North Gwinnett SUV, Inc. received approval from the U.S. Bankruptcy
Court for the Northern District of Georgia to hire Jones Lang
Lasalle Brokerage, Inc. as its real estate broker.

Jones Lang will assist the Debtor in the sale of its real property
located at 3932 Sudderth Road, Buford, Gwinnett County, Ga.  

The firm will be paid a 6% commission for its services.  However,
if another broker is involved in the sale, Jones Lang will get 10%
of the sales price and will pay the cooperating broker from the
commission.  

Paul Hanna, agent for Jones Lang, attests that his firm is
"disinterested" within the meaning of Sections 101(14) and 327(a)
of the Bankruptcy Code.

The firm can be reached at:

     Paul Hanna
     Jones Lang Lasalle Brokerage, Inc.
     3344 Peachtree Road NE Suite 1100
     Atlanta, GA 30326
     Tel: +1​ 404 995 2100
     Fax: +1 404 995 2184

             About North Gwinnett SUV, Inc.

Based in Buford, Georgia, North Gwinnett SUV, Inc. filed a Chapter
11 petition (Bankr. N.D. Ga. Case No. 19-54469) on March 21, 2019,
listing under $1 million in both assets and liabilities. Leslie M.
Pineyro, Esq., at Jones and Walden, LLC, represents the Debtor as
counsel.


NYMAN HOLDINGS: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Nyman Holdings, LLC
        753 South 100 East
        Logan, UT 84321
Business Description: Nyman Holdings, LLC --
                      https://www.nymanfh.com -- owns a funeral
                      home serving the entire Cache Valley and
                      surrounding areas.  The Company offers
                      burial services; visitation; funeral or
                      memorial services; graveside, chapel, or
                      committal services; and cremation services.

Chapter 11 Petition Date: April 18, 2019

Court: United States Bankruptcy Court
       District of Utah (Salt Lake City)

Case No.: 19-22667

Judge: Hon. Kevin R. Anderson

Debtor's Counsel: Theodore Floyd Stokes, Esq.
                  STOKES LAW PLLC
                  2072 North Main Suite 102
                  North Logan, UT 84341
                  Tel: 435-213-4771
                  Fax: 888-443-1529
                  E-mail: ted@stokeslawpllc.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Lonnie Nyman, president.

The Debtor failed to include in the petition a list of its 20
largest unsecured creditors.

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

           http://bankrupt.com/misc/utb19-22667.pdf


PERSPECTA INC: Fitch Affirms 'BB+' LongTerm IDR, Outlook Stable
---------------------------------------------------------------
Fitch Ratings has affirmed Perspecta Inc.'s (NYSE: PRSP) Long-Term
Issuer Default Rating at 'BB+'. Fitch has also affirmed the
associated senior secured ratings at 'BBB-'/'RR1'. Additionally,
Fitch has affirmed the senior unsecured legacy notes at 'BBB+',
which continue to benefit from an irrevocable guarantee of any
principal and interest from HP Inc. (BBB+/Stable). The Rating
Outlook is Stable.

Perspecta was formed on May 31, 2018 through a spin of DXC
Technology Company's (BBB+) public sector business and merger with
two U.S. federal contractors. Fitch provided an initial rating on
April 18, 2018 associated with the transaction financing.
Perspecta's recent results suggest the company has performed better
than Fitch's expectation a year ago. Fitch expects Perspecta's FY19
pro forma gross leverage (total debt with equity credit to
operating EBITDA) will be below 4.0x and believes the company
remains committed to making voluntary debt repayments and attaining
3.0x net leverage over the rating horizon. While continued Federal
contractor consolidation continues apace, Perspecta has been able
to maintain its leading margins owing to its business scope and
contract mix. Perspecta continues to face a major recompete of its
largest contract, which is expected to be adjudicated later this
year. Fitch continues to view the loss of a significant contract as
event risk but has no reason to believe that the probability of
Perspecta winning has changed materially at this time.

KEY RATING DRIVERS

Business Diversity: As a combined entity with IT and mission
services, Perspecta's operating profile should continue benefit
from balanced agency and contract exposure and a favorable contract
mix that both reduces risk and expands the overall opportunity set.
About two-thirds of Perspecta's business is in its Defense and
Intelligence Segment, with the remaining third in its Civilian and
Health Care segment.

Margin & FCF Profile: Based upon results since formation, Fitch
expects Perspecta's FY19 pro forma operating EBITDA margin to be
approximately 16.5%, roughly five points higher than the average of
other major government services providers. This is a result of a
prospective contract mix that is more than 50% fixed price, which
tends to be higher margin. Fitch expects Perspecta will be able to
maintain its margin over the ratings horizon through continued
execution of cost synergies. Additionally, Fitch believes Perspecta
will generate FCF (post-dividend) margins of 6% to 7% which is
strong relative to its IT and mission services peers and supportive
of its overall liquidity position and ability to make discretionary
debt repayments.

Leverage and Financial Policy: Fitch continues to expect Perspecta
will reduce its gross leverage to approximately 3x over the ratings
horizon as a result of margin expansion and debt paydown. The
company has targeted a net leverage ratio of 3x or below and its
leverage-based debt pricing structure provides incentive to achieve
its target.

Government Budget Tailwinds: Government IT spend overall is
expected to grow by low single digits over the ratings horizon and
roughly double that at state and local levels, providing a tailwind
to Perspecta's business. Fitch expects high single-digit growth in
key digital areas including cloud, cybersecurity and analytics to
support growth. Additionally, mid-single-growth in the defense
budget and low double-digit growth in the intelligence budget
should support mission-oriented work. This should serve to offset
challenges in some civilian agencies.

DERIVATION SUMMARY

Perspecta is an IT and mission services provider with similar scale
and scope to former standalone competitor CSRA. However,
Perspecta's relatively weaker prospective credit protection metrics
at the time of its formation corresponded to a lower rating
category. CSRA was acquired by General Dynamics Corporation, which
has substantially greater scale, business diversity, and financial
resources. Perspecta's margin profile compares favorably with other
U.S. government IT and mission services providers including Science
Applications International Corporation, Booz Allen Hamilton Holding
Corporation and CAIC. due to its favorable contract mix with a
materially higher balance of fixed-price contracts. Perspecta is of
smaller scale than Leidos, similar in size to SAIC, and Booz Allen,
and larger than CAIC.

KEY ASSUMPTIONS

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

  - Low single-digit revenue growth annually over the forecast
    period;

  - Mid-teen operating EBITDA margins sustained over the
    forecast;

  - $50 million dividend growing 10% annually; $50 million
    to $100 million in stock repurchases annually;

  - Discretionary debt repayment to achieve 3x net leverage
    target over ratings horizon.

RATING SENSITIVITIES

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

  - Total debt with equity credit to operating EBITDA expected
    to be sustained below 3x;

  - Sustained mid-single digit revenue growth;

  - FCF margin sustained above 8% to 9%.

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

  - Total debt with equity credit to operating EBITDA expected
    to be sustained above 4x;

  - FCF margin sustained below 3%;

  - Loss of a significant contract.

LIQUIDITY

Adequate Liquidity: Perspecta had $100 million of cash and cash
equivalents as of Dec. 31, 2018. The company also had access to an
undrawn $600 million revolving credit facility that expires May 31,
2023. Fitch's expectation of $250 million to $300 million in annual
post-dividend FCF over the forecast horizon also supports
Perspecta's liquidity position.

Manageable Debt Structure: Perspecta's maturities are staggered
with TLA1 due 2021, TLA2 due 2023 and TLB due 2025. TLA2 and TLB
amortization is $82.5 million and $5.0 million annually,
respectively. Additionally, $66 million in principal outstanding of
legacy Enterprise Services LLC 7.45% notes are due 2029. The notes
bear a guarantee of any principal and interest by HP Inc. (BBB+) as
successor to Hewlett-Packard Company, which provided an irrevocable
guarantee in 2008 upon its acquisition of Electronic Data Systems,
LLC.

FULL LIST OF RATING ACTIONS

Fitch has affirmed the following ratings:

Perspecta Inc.

  - Long Term Issuer Default Rating at 'BB+';

  - Senior secured revolving credit facility at
    'BBB-'/'RR1';

  - Senior secured term loans at 'BBB-'/'RR1'.

Enterprise Services LLC

  - Senior unsecured notes at 'BBB+'.

The Rating Outlook is Stable.


PHOENIX COLLEGIATE ACADEMY, AZ: S&P Cuts 2012 Bond Rating to 'BB'
-----------------------------------------------------------------
S&P Global Ratings lowered its rating on Phoenix Industrial
Development Authority, Ariz.'s series 2012 education facility
revenue bonds originally issued for Phoenix Collegiate Academy
(PCA), now known as ASU Preparatory Academy South Phoenix-PCA, to
'BB' from 'BBB-'. The outlook is stable.

"Based on our review of legal documents, following the merger of
PCA and ASU Preparatory Academy, PCA's debt and related obligations
is assumed by the academy," said S&P Global Ratings credit analyst
Shivani Singh. "Therefore, our rating on the series 2012 bonds is
based on academy's credit profile."

Financials cited in this report pertain to separate historical
audits manually consolidated by S&P for the academy and PCA. S&P
expects consolidated financial audits for the academy effective in
fiscal 2019 and future fiscal years to incorporate PCA results.

"The downgrade reflects our view of the academy's weak financial
profile which is unlikely to materially vary over our outlook
period and more consistent with the 'BB' rating," added Ms. Singh.

The stable outlook reflects S&P's expectation that, during the next
year, the academy's key financial metrics, enrollment and demand
will remain stable at about current levels. The rating agency
expects the academy to comply with all stipulated debt covenants.


PINEY WOODS: Seeks to Hire Benton & Centeno as Legal Counsel
------------------------------------------------------------
Piney Woods Resources, Inc. and Jesse Creek Mining, LLC seek
authority from the U.S. Bankruptcy Court for the Northern District
of Alabama to hire legal counsel to represent them in their Chapter
11 cases.

The Debtors propose to employ Benton & Centeno and pay the firm at
hourly rates for their services:

     Lee Benton, Esq.          $500
     Samuel Stephens, Esq.     $275
     Paralegals                $80

The firm will also receive reimbursement for work-related
expenses.

Lee Benton, Esq., at Benton & Centeno, assured the court that the
firm is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code and does not represent any interest
adverse to the Debtors and their estates.

The firm can be reached at:

      Lee R. Benton, Esq.
      Samuel C. Stephens, Esq.
      Benton & Centeno, LLP
      2019 Third Avenue North
      Birmingham, AL 35203
      Tel: (205) 278-8000
      Email: lbenton@bcattys.com
             sstephens@bcattys.com

                   About Piney Woods Resources and
                         Jesse Creek Mining

Jesse Creek Mining, LLC and its parent company Piney Woods
Resources, Inc. are engaged in the production and sale of
metallurgical grade coal from a mining complex located in Shelby
County, Ala.  The Jesse Creek mining complex consists of a surface
and highwall mining operation, a preparation plant and an
underground mine development project.  Mining and development
operations were idled on March 27, 2019.

Piney Woods Resources and Jesse Creek Mining filed voluntary
petitions seeking relief under Chapter 11 of the Bankruptcy Code
(Bankr. N.D. Ala. Lead Case No. 19-01390) on April 2, 2019.

Lee R. Benton, Esq. and Samuel C. Stephens, Esq., at Benton &
Centeno, LLP, represent the Debtor as counsel.


PITNEY BOWES: Moody's Cuts CFR to Ba2 & Alters Outlook to Stable
----------------------------------------------------------------
Moody's Investors Service downgraded the Corporate Family Rating of
Pitney Bowes Inc. to Ba2 from Ba1 and Probability of Default Rating
to Ba2-PD from Ba1-PD. The senior unsecured note rating was
downgraded to Ba2 and the speculative grade liquidity rating was
downgraded to SGL-2. In addition, Moody's changed the outlook to
stable from negative. These rating actions reflect the company's
underperformance relative to Moody's prior expectation, increased
business risks as the company expands its 3rd party equipment
financing program, and an expectation that adjusted free cash flow
to debt will remain modest as the company invests to build scale in
its ecommerce/shipping business.

RATINGS RATIONALE

Pitney Bowes' underperformance since the negative outlook was
assigned in November 2017 led to adjusted leverage of 4.4x as of
December 31, 2018, well above its prior expectation. High leverage
reflects mid single digit percentage revenue declines in the mature
SMB mailing segment combined with ongoing investments to grow
ecommerce/shipping operations, both of which pressure EBITDA
margins and free cash flow generation. Moody's now expects adjusted
debt to EBITDA to remain above 3.8x over the next 12 months, with
deleveraging driven by modest EBITDA growth and debt reduction.
Moody's believes Pitney Bowes is taking on additional business risk
as it develops 3rd party equipment financing operations to
supplement existing financing tied to Pitney Bowes meter leases and
rentals. Although leverage is high, adjusted debt to EBITDA has
improved consistently since peaking in 3q2017 as a result of the
debt-financed Newgistics acquisition. Moody's expects continued
debt reduction given the company has incentives to maintain a solid
credit profile to ensure good access to the capital markets to
develop 3rd party equipment financing while supporting existing
equipment financing for meters.

In February 2019, the company announced a 73% reduction in its
quarterly common dividend to 5 cents from 18.75 cents preserving
roughly $100 million of cash annually. Moody's expects a majority
of the savings to be directed towards the development of 3rd party
equipment financing beyond 2019. Finance operations represent a
good portion of the company's profit generation, but equipment
financing revenue tied to Pitney's Bowes' meters have consistently
declined in each of the last several years. This new effort aims to
stem the financing revenue declines while leveraging existing
knowledge of the client base. Developing 3rd party equipment
financing will require incremental investment, additional controls
to mitigate new credit risks, and eventual increases in debt
balances to support long term growth in the financing portfolio of
3rd party equipment.

The Ba2 CFR recognizes Pitney Bowes' leading presence in the highly
regulated mail metering market, despite ongoing competitive
pressures and mature demand. Moody's continues to view the
transition to higher growth shipping as strategically favorable
over the long term given the growth potential in e-commerce
fulfillment and shipping services, in contrast to the secular
decline in mail; however, there are execution risks related to
growing market share among established shipping providers. The
company will need to maintain good financial flexibility as it
navigates through a number of challenges including the secular
pressures facing its core mail meter business, developing 3rd party
equipment financing, and simultaneously growing its
ecommerce/shipping businesses which require greater scale to
achieve targeted top line growth and profit margins.

The SGL-2 liquidity rating reflects good liquidity supported by
sizable cash balances exceeding $500 million and Moody's
expectation that free cash flow will be positive over the next 12
months, but in line with 2016-2017 levels despite the recent
dividend cut given (i) the majority of cash savings from dividend
reductions will effectively be redirected to invest in the
origination of 3rd party equipment leases, (ii) increased capital
expenditures and interest expense, and (iii) ongoing investment to
grow ecommerce/shipping operations. The downgrade to SGL-2 from
SGL-1 reflects limited access to the undrawn $1 billion revolver
due to the reduced EBITDA cushion to maintenance covenants under
the credit agreement. In December 2018, the company amended its
credit agreement to relax the required leverage ratio (as defined)
to 4.25x for December 31, 2018 from 3.50x with step downs through
the end of 2019. Moody's expects the company to manage within its
covenants through a combination of EBITDA growth and debt
reduction.

Ratings for the senior unsecured notes (Ba2) reflect the overall
probability of default of the company given the PDR of Ba2-PD and
expectation for an average family recovery in a default scenario.
There would be downward pressure on current instrument ratings to
the extent the company chooses to issue secured debt which would
rank ahead of the company's unsecured notes and credit facilities
unless collateral is shared.

The stable outlook reflects Moody's expectations for total revenues
to grow in the low single digit percentage range over the next 12
months with adjusted EBITDA margins remaining at current levels.
Ongoing investment to grow ecommerce/shipping operations and
continued top line gains in the software segment are expected to
offset revenue declines in the mature SMB mailing segment. Given
Moody's belief that 3rd party equipment financing introduces
incremental business risk, the outlook incorporates the need to
maintain strong credit protection measures to support expansion of
the customer finance business to 3rd party equipment.

Ratings could be upgraded if the company demonstrates a track
record of consistent revenue and EBITDA growth with improving
operating margins. Moody's would also need to be comfortable with
the execution and financial policies related to developing 3rd
party equipment financing. Adjusted debt/EBITDA would need to be
maintained below 2.75x with consistent growth in free cash flow.

Ratings could be downgraded if Moody's expects consolidated
revenues will decline from current levels reflecting greater than
expected weakness in the SMB mailing segment or if it expects
adjusted debt to EBITDA will be sustained above 3.5x after
mid-2020. There would be downward pressure on ratings if EBITDA
margins or free cash flow deteriorate from current levels
reflecting underperformance in core operations or with development
of 3rd party equipment financing. Ratings would also be pressured
if the company divests cash flow generating assets without a
compensating reduction in debt or otherwise favoring shareholder to
the detriment of creditors.

Ratings Actions:

Issuer: Pitney Bowes Inc.

  Corporate Family Rating -- Downgraded to Ba2 from Ba1

  Probability of Default Rating -- Downgraded to Ba2-PD from
Ba1-PD

  Speculative Grade Liquidity Rating -- Downgraded to SGL-2 from
SGL-1

  Senior Unsecured Notes -- Downgraded to Ba2 (LGD4) from Ba1
(LGD4)

  Senior Unsecured Shelf, Downgraded to (P)Ba2 from (P)Ba1

  Subordinate Shelf, Downgraded to (P)Ba3 from (P)Ba2

  Preferred Shelf, Downgraded to (P)B1 from (P)Ba3

  Preference Shelf, Downgraded to (P)B1 from (P)Ba3

  Senior Unsecured Commercial Paper, Affirmed NP

Outlook Actions:

Issuer: Pitney Bowes Inc.

  Outlook, Changed to Stable from Negative

The principal methodology used in these ratings was Diversified
Technology published in August 2018.

Based in Stamford, CT, Pitney Bowes Inc. is a global provider of
ecommerce fulfillment, shipping and returns, office mailing and
shipping, messaging and document management solutions that include
postage meters, mailing equipment, as well as related software,
services, and financing. Moody's expects revenues to reach $3.6
billion over the next 12 months.


PRIDE CLEANERS: Seeks to Hire Jones & Walden as Legal Counsel
-------------------------------------------------------------
Pride Cleaners, LLC seeks approval from the U.S. Bankruptcy Court
for the Northern District of Georgia to hire Jones & Walden, LLC,
as its legal counsel.

The firm will advise the Debtor of its rights and duties under the
Bankruptcy Code; represent the Debtor with respect to a Chapter 11
plan; conduct examination; and provide other legal services in
connection with its bankruptcy case.

The firm's hourly rates are:

     Attorneys             $200 - $350
     Legal Assistants           $90

As of April 8, 2019, the firm held a retainer in the amount of
$21,466.50.

Cameron McCord, Esq., a partner at Jones & Walden, disclosed in
court filings that the firm neither holds nor represents any
interest adverse to the Debtor and its estate.

Jones & Walden can be reached through:

     Cameron M. McCord, Esq.
     Jones & Walden, LLC
     21 Eighth Street, NE        
     Atlanta, GA 30309        
     Phone: (404) 564-9300        
     Email: cmccord@joneswalden.com  

                     About Pride Cleaners LLC

Pride Cleaners, LLC is a privately held company in Alpharetta, Ga.,
that offers laundry services.  Pride Cleaners sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No.
19-55564) on April 8, 2019.  At the time of the filing, the Debtor
estimated assets of less than $50,000 and liabilities of between $1
million and $10 million.


PRISO ACQUISITION: Moody's Alters Outlook on B2 CFR to Negative
---------------------------------------------------------------
Moody's Investors Service changed the rating outlook for PriSo
Acquisition Corporation, direct holding company of PrimeSource
Building Products, Inc. to negative from stable, because of
worse-than-expected earnings that will result in key credit metrics
over the next 12 to 18 months indicative of lower ratings.
Additionally, higher-than-normal revolving credit usage for
seasonal working capital and capital expenditures will result in
less revolver availability throughout the year, weakening the
company's liquidity profile. In related rating actions, Moody's
affirmed PrimeSource's B2 Corporate Family Rating, B2-PD
Probability of Default Rating, B2 senior secured term loan rating,
and Caa1 senior unsecured notes rating.

The following ratings/assessments are affected by the action:

Issuer: PriSo Acquisition Corporation

  Probability of Default Rating, Affirmed B2-PD

  Corporate Family Rating, Affirmed B2

  Senior Secured Bank Credit Facility, Affirmed B2 (LGD3)

  Senior Unsecured Regular Bond/Debenture, Affirmed Caa1 (LGD5)

Outlook Actions:

Issuer: PriSo Acquisition Corporation

  Outlook, Changed to Negative from Stable

RATINGS RATIONALE

The change in PrimeSource's rating outlook to negative from stable
results from worsening credit metrics due to operating performance
significantly below Moody's previous expectations. Over the past
year, PrimeSource experienced exceptionally high steel costs used
in construction fasteners and could not achieve enough
corresponding price increases in the second half of the year to
adequately offset higher costs. Moody's now projects operating
margin in mid-single digits percentages over the next 12 to 18
months, and resulting interest coverage, measured as
EBITA-to-interest expense, near 1.6x over the same time horizon.
Moody's  forecast debt-to-EBITDA remaining above 7.0x through
mid-2020 (all ratios incorporate Moody's standard adjustments).
Input cost pressures illustrate the volatility of PrimeSource's
margins.

Further exacerbating debt metrics is about $225 million of debt
used to finance a dividend to affiliates of Platinum Equity, owner
of PrimeSource, in Q3 2016, adding about two turns of leverage at
current earnings levels, and effectively eliminating the original
equity contribution. The company also has a maturing debt profile;
its revolving credit facility expires in May 2020, followed by its
senior secured term loan in May 2022 but becoming a current
liability in 2021. Additionally, higher-than-normal revolving
credit usage for seasonal working capital and capital expenditures
will result in less revolver availability throughout the year,
weakening the company's liquidity profile. Moody's projects that
free cash flow generated throughout the year will be insufficient
to pay down all revolver borrowings, adding to the company's debt
burden. The company borrowed $75 million under its revolver to
facilitate the debt-financed dividend, and these borrowings have
not been repaid completely.

The B2 Corporate Family Rating is affirmed, since Moody's
recognizes that management is addressing its operating performance
by increasing pricing, enhancing supplier relationships, and
improving its operations. These actions should contribute to better
results over the long-term. Moody's expects US private
construction, driver of PrimeSource's revenues, remain sound and
support future growth. PrimeSource's sales are split evenly between
new home construction and remodeling markets. Moody's projects
total US new housing starts could reach 1.27 million in 2019,
representing a 2.3% increase from an estimated 1.24 million in
2018. The Remodeling Market Index's overall reading was 56.5 in 4Q
2018, and has been above 50 since 1Q 2013, indicating sustained
growth. Moody's also expects PrimeSource to generate free cash
flow, which will be used to reduce revolver borrowings, and giving
the company some financial flexibility to contend with contracting
margins.

Negative rating actions could occur if PrimeSource's operating
performance deteriorates, resulting in credit metrics (all ratios
incorporate Moody's standard adjustments) or characteristics such
as:

  - Debt-to-EBITDA maintained above 7.25x

  - EBITA-to-interest expense remained below 1.5x

  - Operating margin contracts further, staying below mid-single
digit percentages

  - Large amount of free cash that is used for debt reduction fails
to materialize

  - Revolving credit facility is not extended

  - There are large debt-financed acquisitions

  - There are substantial shareholder distributions

Stabilization of ratings could ensue if PrimeSource's operating
performance improves and yields the following credit metric (ratio
incorporates Moody's standard adjustments) and characteristics:

  - Sustained debt-to-EBITDA below 6.5x

  - Maintained EBITA-to-interest expense above 2.0x

  - Improved liquidity profile

  - Revolving credit facility extended to 2022 or beyond

  - Sustained organic growth

  - Ongoing trends in end markets that support growth

  - Revolving credit facility extended to 2022 or beyond

The principal methodology used in these ratings was Distribution &
Supply Chain Services Industry published in June 2018.

PrimeSource Building Products, Inc., headquartered in Irving, TX,
is a distributor of building materials, selling its products and
services to retailers and other distributors for new housing
construction and repair and remodeling activity. Platinum Equity,
through its affiliates, is the owner of PrimeSource. Revenues for
the year ended December 31, 2018 approximate $1.4 billion.
PrimeSource is privately-owned and does not make financial
information publicly available.


PULMATRIX INC: Empery Reports 9.99% Stake as of April 3
-------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, these entities and individuals reported beneficial
ownership of shares of common stock of Pulmatrix, Inc. as of April
3, 2019:

  * Empery Asset Master, Ltd. beneficially owns 151,884 shares of
    common stock, 602,129 shares of common stock issuable upon
    exercise of pre-funded warrants, and 1,726,744 shares of
    common stock issuable upon exercise of Warrants, representing
    7.29 percent of the shares outstanding;

  * Empery Tax Efficient II, LP beneficially owns 774,545 shares
    of common stock, 3,070,594 shares of common stock issuable
    upon exercise of pre-funded warrants, 4,886,264 shares of
    Common Stock issuable upon exercise of Warrants, representing
    9.99 percent of the shares outstanding;

  * Empery Asset Management, LP beneficially owns 969,871 shares
    of common stock, 3,844,944 shares of common stock issuable
    upon exercise of pre-funded warrants, and 7,383,643 shares of
    common stock issuable upon exercise of Warrants, representing
    9.99 percent of the shares outstanding;

  * Ryan M. Lane beneficially owns 969,871 shares of common
    stock, 3,844,944 shares of common stock issuable upon
    exercise of pre-funded warrants, and 7,383,643 shares of
    common stock issuable upon exercise of Warrants, representing
    9.99 percent of the shares outstanding;

  * Martin D. Hoe beneficially owns 969,871 shares of common
    stock, 3,844,944 shares of common stock issuable upon
    exercise of pre-funded warrants, 7,383,643 shares of common
    stock issuable upon exercise of Warrants, representing 9.99
    percent of the shares outstanding.

The percentages are based on 9,747,449 shares of Common Stock
issued and outstanding as of April 3, 2019, as represented in the
Company's Prospectus Supplement on Form 424(b)(4) filed with the
Securities and Exchange Commission on April 5, 2019 and assumes the
exercise of the Company's reported warrants subject to the
Blockers.

Pursuant to the terms of the Reported Warrants, the Reporting
Persons cannot exercise the Reported Warrants to the extent the
Reporting Persons would beneficially own, after any such exercise,
more than 4.99% of the outstanding shares of Common Stock (other
than the Pre-Funded Warrants, which cannot be exercised to the
extent the Reporting Person would beneficially own, after such
exercise, more than 9.99% of the outstanding shares of Common
Stock), and the percentages give effect to the Blockers.
Consequently, as of April 3, 2019, the Reporting Persons were not
able to exercise all of the Reported Warrants due to the Blockers.

A full-text copy of the regulatory filing is available for free at:
https://is.gd/QVTLkd

                        About Pulmatrix

Pulmatrix, Inc. -- http://www.pulmatrix.com/-- is a clinical stage
biotechnology company focused on the discovery and development of
novel inhaled therapeutic products intended to prevent and treat
respiratory diseases and infections with significant unmet medical
needs.  The Company's proprietary product pipeline is focused on
advancing treatments for serious lung diseases, including
PulmazoleTM, inhaled anti-fungal itraconazole for patients with
ABPA, and PUR1800, a narrow spectrum kinase inhibitor for patients
with obstructive lung diseases including asthma and chronic
obstructive pulmonary disease.  Pulmatrix's product candidates are
based on iSPERSE, its proprietary engineered dry powder delivery
platform, which seeks to improve therapeutic delivery to the lungs
by maximizing local concentrations and reducing systemic side
effects to improve patient outcomes.

Pulmatrix incurred a net loss of $20.56 million in 2018, following
a net loss of $18.05 million in 2017.  As of Dec. 31, 2018,
Pulmatrix had $14.72 million in total assets, $2.87 million in
total liabilities, and $11.84 million in total stockholders'
equity.

Marcum LLP, in New York, NY, the Company's auditor since 2015,
issued a "going concern" qualification in its report dated Feb. 19,
2019, on the Company's consolidated financial statements for the
year ended Dec. 31, 2018, citing that the Company continues to have
rations, has incurred significant losses and needs to raise
additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


PULMATRIX INC: Kopin et al. Have 9.9% Stake as of April 8
---------------------------------------------------------
Mitchell P. Kopin, Daniel B. Asher, and Intracoastal Capital LLC
said in their most recent filing with the Securities and Exchange
Commission that as of April 8, 2019 they beneficially own 1,097,522
shares of common stock of Pulmatrix, Inc., representing  9.99
percent of the shares outstanding.  

The Reporting Persons have entered into a Joint Filing Agreement
pursuant to which the Reporting Persons have agreed to file this
Schedule 13G jointly in accordance with the provisions of Rule
13d-1(k) of the Securities Exchange Act of 1934, as amended.

Immediately following the consummation of an underwritten public
offering by the Issuer on April 8, 2019, each of the Reporting
Persons may have been deemed to have beneficial ownership of
974,202 shares of Common Stock, which consisted of (i) 969,871
shares of Common Stock held by Intracoastal and (ii) 4,331 shares
of Common Stock issuable upon an exercise of a warrant held by
Intracoastal ("Intracoastal Warrant 1"), and all those shares of
Common Stock in the aggregate represent beneficial ownership of
approximately 9.99% of the Common Stock, based on (1) 8,027,895
shares of Common Stock outstanding as of April 3, 2019 as reported
by the Issuer, plus (2) 1,719,554 shares of Common Stock that were
issued at the closing of the Offering, and (3) 4,331 shares of
Common Stock issuable upon an exercise of Intracoastal Warrant 1.
The foregoing excludes (I) 57,669 shares of Common Stock issuable
upon exercise of Intracoastal Warrant 1 because Intracoastal
Warrant 1 contains a blocker provision under which the holder
thereof does not have the right to exercise Intracoastal Warrant 1
to the extent (but only to the extent) that such exercise would
result in beneficial ownership by the holder thereof, together with
the holder's affiliates, and any other persons acting as a group
together with the holder or any of the holder's affiliates, of more
than 9.99% of the Common Stock, (II) 1,111,111 shares of Common
Stock issuable upon exercise of a second warrant held by
Intracoastal ("Intracoastal Warrant 2") because Intracoastal
Warrant 2 contains a blocker provision under which the holder
thereof does not have the right to exercise Intracoastal Warrant 2
to the extent (but only to the extent) that such exercise would
result in beneficial ownership by the holder thereof, together with
the holder's affiliates, and any other persons acting as a group
together with the holder or any of the holder's affiliates, of more
than 9.99% of the Common Stock, and (III) 141,240 shares of Common
Stock issuable upon exercise of a third warrant held by
Intracoastal ("Intracoastal Warrant 3') because Intracoastal
Warrant 3 contains a blocker provision under which the holder
thereof does not have the right to exercise Intracoastal Warrant 3
to the extent (but only to the extent) that such exercise would
result in beneficial ownership by the holder thereof, together with
the holder's affiliates, and any other persons acting as a group
together with the holder or any of the holder's affiliates, of more
than 9.99% of the Common Stock.  Without such blocker provisions,
each of the Reporting Persons may have been deemed to have
beneficial ownership of 2,284,222 shares of Common Stock.

A full-text copy of the regulatory filing is available for free at
https://is.gd/ruaCza

                        About Pulmatrix

Pulmatrix, Inc. -- http://www.pulmatrix.com/-- is a clinical stage
biotechnology company focused on the discovery and development of
novel inhaled therapeutic products intended to prevent and treat
respiratory diseases and infections with significant unmet medical
needs.  The Company's proprietary product pipeline is focused on
advancing treatments for serious lung diseases, including
PulmazoleTM, inhaled anti-fungal itraconazole for patients with
ABPA, and PUR1800, a narrow spectrum kinase inhibitor for patients
with obstructive lung diseases including asthma and chronic
obstructive pulmonary disease.  Pulmatrix's product candidates are
based on iSPERSE, its proprietary engineered dry powder delivery
platform, which seeks to improve therapeutic delivery to the lungs
by maximizing local concentrations and reducing systemic side
effects to improve patient outcomes.

Pulmatrix incurred a net loss of $20.56 million in 2018, following
a net loss of $18.05 million in 2017.  As of Dec. 31, 2018,
Pulmatrix had $14.72 million in total assets, $2.87 million in
total liabilities, and $11.84 million in total stockholders'
equity.

Marcum LLP, in New York, NY, the Company's auditor since 2015,
issued a "going concern" qualification in its report dated Feb. 19,
2019, on the Company's consolidated financial statements for the
year ended Dec. 31, 2018, citing that the Company continues to have
rations, has incurred significant losses and needs to raise
additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


QUEBECOR MEDIA: Moody's Hikes CFR to Ba1 & Sr. Unsec. Notes to Ba2
------------------------------------------------------------------
Moody's Investors Service upgraded Quebecor Media Inc.'s corporate
family rating to Ba1 from Ba2. At the same time, the company's
probability of default rating was upgraded to Ba1-PD from Ba2-PD,
its senior secured bank credit facility rating was upgraded to Ba2
from Ba3, and its senior unsecured notes rating was upgraded to Ba2
from B1. QMI's speculative grade liquidity rating was downgraded to
SGL-3 (adequate) from SGL-2 (good) and the ratings outlook remains
stable. Senior unsecured ratings for QMI's wholly-owned operating
subsidiary, Videotron Ltee, were upgraded to Ba1 from Ba2.

"We upgraded Quebecor Media's ratings because we expect stable
growth, increasing product diversity as wireless operations grow,
steady leverage of debt-to-EBITDA of 3.5x even with material
spending on spectrum and networks, and reduced event risk following
the purchase of Caisse de depot's remaining ownership," said Bill
Wolfe, a senior vice president at Moody's.

The following summarizes Moody's ratings and the rating actions for
Quebecor Media:

Issuer: Quebecor Media, Inc.

  Corporate Family Rating, Upgraded to Ba1 from Ba2

  Probability of Default Rating, Upgraded to Ba1-PD from
  Ba2-PD

  Senior Secured Term Loan B, Upgraded to Ba2 (LGD5) from
  Ba3 (LGD5)

  Senior Unsecured Global Notes, Upgraded to Ba2 (LGD6) from
  B1 (LGD6)

  Speculative Grade Liquidity Rating, Downgraded to SGL-3 from
  SGL-2

Outlook, Remains at Stable

Issuer: Videotron Ltee

  Senior Unsecured Global Notes, Upgrade to Ba1 (LGD3) from
  Ba2 (LGD3)

RATINGS RATIONALE

Quebecor Media Inc.'s Ba1 ratings are based on a strong business
profile with a growing wireless broadband connectivity business
supplementing challenged fixed-line operations, moderate overall
growth, a generally supportive regulatory framework, rational
oligopolistic competition, and debt/EBITDA leverage about 3.5x
(Moody's adjusted; 3.5x at 31Dec18). With communications and
commerce continuing to migrate to the internet and as the
proportion of digitally native consumers gradually increases, the
rating also benefits from technology and demographic trends which
support the sustained profitability of broadband connectivity. The
rating is constrained by ongoing fixed-line market share losses,
likely substantial capital spending requirements for wireless and
fixed-line network infrastructure and wireless spectrum over the
next several years, limited geographic diversity given a primarily
Quebec-based footprint, and event risks stemming from
variable/opportunistic strategy and tactics.

Liquidity is adequate (SGL-3) because the company has CAD1.25
billion of resources by way of cash (CAD21 million at 31Dec18),
cash flow (CAD125 million over the next year) and committed
liquidity (CAD1.1 billion unused revolving credit facility) with
which to address US$350 million of debt maturities (August, 2020)
and wireless spectrum commitments (CAD260 million) over the next
year. The revolving credit facility is committed for an extended
term to maturity July 2022 for Quebecor Media, Inc. and July 2023
for Videotron Ltd. respectively and, in both cases, financial
covenant compliance is expected.

RATING OUTLOOK

The stable ratings outlook reflects expectations that leverage of
debt/EBITDA will be about 3.5x, maintaining conservative financial
risks to compensate for various operational risks as the company
continues to gradually strengthen its business profile (3.5x
31Dec19).

What Could Change the Rating - Up

The rating could be upgraded to Baa3 if:

  - Execution is solid, strategy and tactics are consistent, and
the company makes a public commitment to maintain an investment
grade rating profile, and:

  - Wireless operations grow so that they contribute more than 25%
of consolidated EBITDA while fixed-line operations' EBITDA is no
worse than stable (indicating a well-managed transition from video
to internet with acceptable market share losses); and Moody's
expected

  - Debt/EBITDA being sustained below 3.25x (3.5x 31Dec18); along
with

  - FCF/TD approaching 10% (13% at 31Dec18) and solid liquidity.

What Could Change the Rating - Down

The rating could be downgraded to Ba2 if:

  - Execution falters with minimal wireless growth and accelerating
fixed-line erosion; or Moody's expected:

  - Debt/EBITDA to be sustained above ~3.75x (3.5x at 31Dec18), or

  - FCF/TD to be sustained below 5% (13% at 31Dec18).

The principal methodology used in these ratings was
Telecommunications Service Providers published in January 2017.

Headquartered in Montreal, Canada, Quebecor Media Inc. (QMI), is a
holding company whose primary operations are conducted through
wholly-owned operating company, Videotron Ltee, and involve
fixed-line and wireless broadband communications. Secondary
operations conducted through other wholly-owned operating companies
include newspaper publishing, television broadcasting (TVA Group
Inc.), music production and distribution, sports, and
entertainment. Annual revenues are about CAD4.2 billion while
annual EBITDA is about CAD1.8 billion (Moody's adjusted),
80%-to-85% of which comes from fixed-line broadband operations.


RIOT BLOCKCHAIN: Citadel et al. Own 4.4% Stake as of April 8
------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, these entities reported beneficial ownership of shares
of common stock of Riot Blockchain, Inc. as of April 8, 2019:


                                         Shares     Percent
                                      Beneficially    of
    Reporting Person                      Owned      Class
    ----------------                  ------------  -------
    Citadel Securities LLC               647,764      4.4%
    CALC III LP                          647,883      4.4%
    Citadel Securities GP LLC            647,883      4.4%
    Kenneth Griffin                      647,883      4.4%

Each of Citadel Advisors, Citadel Advisors Holdings LP and Citadel
GP LLC may be deemed to beneficially own 0 shares of common stock.

The percentages are based upon 14,762,809 shares of common stock
outstanding as of April 1, 2019 (according to the issuer's Form
10-K as filed with the SEC on April 2, 2019).

CALC3 is the non-member manager of Citadel Securities and CRBH.
CSGP is the general partner of CALC3.  CAH is the sole member of
Citadel Advisors.  CGP is the general partner of CAH.  Mr. Griffin
is the president and chief executive officer of CGP, and owns a
controlling interest in CSGP and CGP.

While, on April 9, 2019, the Reporting Persons ceased to
beneficially own more than 5% of the outstanding common stock of
the issuer, the Reporting Persons do not intend this filing to
terminate their Schedule 13G reporting obligations with respect to
Riot Blockchain, Inc.

A full-text copy of the regulatory filing is available for free at:
https://is.gd/SIc0uG

                     About Riot Blockchain

Headquartered in , Castle Rock, Colorado, Riot Blockchain --
http://www.RiotBlockchain.com/-- is focused on building,
operating, and supporting blockchain technologies.  Its primary
operations consist of cryptocurrency mining, targeted development
of a cryptocurrency exchange, and the identification and support of
innovations within the sector.

Riot Blockchain reported a net loss of $60.21 million in 2018,
following a net loss of $19.97 million in 2017.  As of Dec. 31,
2018, the Company had $13.86 million in total assets, $9.36 million
in total liabilities, and $4.49 million in total stockholders'
equity.

Marcum LLP, in New York, NY, the Company's auditor since 2018,
issued a "going concern" qualification in its report dated April 2,
2019, on the Company's consolidated financial statements for the
year ended Dec. 31, 2018, citing that the Company has a significant
working capital deficiency, has incurred significant losses, and
needs to raise additional funds to meet its obligations and sustain
its operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


ROC-IT DRYWALL: Taps Michigan Business Advisors as Accountant
-------------------------------------------------------------
Roc-It Drywall, Inc., received approval from the U.S. Bankruptcy
Court for the Eastern District of Michigan to hire Michigan
Business Advisors as its accountant.

The firm will assist the Debtor in reorganizing its business
operations, and will provide general tax and accounting services
related to the operations.

The firm's hourly rates are:

      William H. Malek               $225
      Other Accountants              $100
      Support Staff (Bookkeepers)     $35

Michigan Business received a retainer of $10,000.

William Malek, principal of Michigan Business and the accountant
who will be providing the services, disclosed in court filings that
his firm is "disinterested" as defined in Section 101(14) of the
Bankruptcy Code.

Michigan Business can be reached through:

     William H. Malek
     Michigan Business Advisors
     333 E. State St.
     Traverse City, MI 48382
     Phone: (231) 933-9925
     Email: wmalek@mibusinessadvisors.com

                     About Roc-It Drywall Inc.

Roc-It Drywall, Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Mich. Case No. 19-43051) on March 4,
2019.  At the time of the filing, the Debtor estimated assets of
less than $500,000 and liabilities of less than $1 million.  The
case is assigned to Judge Phillip J. Shefferly.  David R. Shook,
Attorney at Law, PLLC, is the Debtor's bankruptcy counsel.


SAMURAI MARTIAL: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Samurai Martial Sports, Inc.
        12500 Oxford Park Dr.
        Houston, TX 77082

Business Description: Samurai Martial Sports, Inc. owns a martial
                      arts school in Houston, Texas.  Since 2001,
                      Houston Samurai Karate Dojo --
                      www.HoustonSamurai.com -- has taught
                      children and adults the confidence,
                      leadership and fitness skills that can only
                      be achieved through martial arts.  The
                      Facility consists of a 12,000 square
                      foot main training area with zebra mats
                      for maximum safety, climate-controlled
                      training room & waiting area, open seating
                      for parents and spectators, and men's &
                      women's locker rooms with showers.

Chapter 11 Petition Date: April 17, 2019

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

Case No.: 19-32169

Judge: Hon. Eduardo V. Rodriguez

Debtor's Counsel: Jessica Lee Hoff, Esq.
                  HOFF LAW OFFICES, P.C.
                  1322 Space Park Dr., B128
                  Houston, TX 77058
                  Tel: 832-975-0366
                  E-mail: jhoff@hofflawoffices.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ihab Selim Ahmed, president.

The Debtor failed to include in the petition a list of its 20
largest unsecured creditors.

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

           http://bankrupt.com/misc/txsb19-32169.pdf


SARATOGA SPRINGS: Case Summary & 12 Unsecured Creditors
-------------------------------------------------------
Debtor: Saratoga Springs Partners, LLC
        c/o Phoenix HR Group
        353 Broadway, 4th Floor
        Saratoga Springs, NY 12866

Business Description: Saratoga Springs Partners, LLC is a Single
                      Asset Real Estate Debtor (as defined in 11
                      U.S.C. Section 101(51B)).

Chapter 11 Petition Date: April 18, 2019

Court: United States Bankruptcy Court
       Northern District of New York (Albany)

Case No.: 19-10703

Judge: Hon. Robert E. Littlefield Jr.

Debtor's Counsel: Richard L. Weisz, Esq.
                  HODGSON RUSS LLP
                  677 Broadway, Suite 301
                  Albany, NY 12207
                  Tel: (518) 465-2333
                  E-mail: Rweisz@hodgsonruss.com

Total Assets: $0

Total Liabilities: $11,212,234

The petition was signed by James D'Iorio, managing member.

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

          http://bankrupt.com/misc/nynb19-10703.pdf

List of Debtor's 12 Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
1. A-Z Property Maintenance                                $1,765
279 Greenfield Avenue
Ballston Spa, NY 12020
Tel: 518-409-1393

2. Albany Fire                                             $1,342
Protection, Inc.
P.O. Box 429
Watervliet, NY 12189
Tel: 518-274-1405

3. CHA Design/Construction                                $40,028
Solutions
3 Winners Circle
Albany, NY 12205
Tel: 518-453-4500

4. Charles Crosby &                  Ground Lease        $108,598
Son, Inc. d/b/a Merlin
Development &
Construction Co.
7 Wells Street, Suite 302
Saratoga Springs, NY 12866
Tel: 518-584-5601

5. David L. Wallace &                                     $93,989
Associates, P.A.
542 Douglas Avenue
Dunedin, FL 34698
Tel: 727-736-6000

6. Delaney Vero, PLLC                                     $26,925
2 Fenway Court
Albany, NY 12211
Tel: 518-477-3452

7. Dente Group                                                $80
595 Broadway
Watervliet, NY 12189
Tel: 518-266-0310

8. Galusha & Sons, LLC                                     $9,365
426 Dix Avenue
P.O. Box 4787
Queensbury, NY 12804
Tel: 518-761-0400

9. NLH Property Management                                 $8,394
340 Broadway
Saratoga Springs, NY 12866
Tel: 518-581-8310

10. Siena Fence Co., Inc.                                  $6,042
P.O. Box 4893
Clifton Park, NY 12065
Tel: 518-877-4362

11. Studio Abode                                           $5,150
500 Bishop Street, N.W.
Atlanta, GA 30318
Tel: 404-920-8690

12. Tecta America                                          $2,250
2 Sterling Road
North Billerica, MA 01862
Tel: 978-528-3138


SCHULDNER LLC: Taps Robert M. Schuneman as Legal Counsel
--------------------------------------------------------
Schuldner, LLC received approval from the U.S. Bankruptcy Court for
the District of Minnesota to employ the Law Office of Robert M.
Schuneman PLLC as its legal counsel.

The firm will assist the Debtor in the administration of its
Chapter 11 case.  Robert Schuneman, Esq., the primary attorney who
will be handling the case, will charge an hourly fee of $250.  The
billing rate for associate attorneys or contract attorneys is $250
per hour.

Mr. Schuneman attests that he does not have any relationship with
creditors in the case and other parties in interest.  

The firm can be reached at:

     Robert M. Schuneman, Esq.
     Law Office Of Robert M. Schuneman PLLC
     1811 Weir Dr Suite 140
     Woodbury, MN 55125, USA
     Phone: +1 651-538-1518

                     About Schuldner LLC

Schuldner, LLC is a privately held company engaged in activities
related to real estate. It owns 15 single-family rental homes in
Duluth, Minn., with a total appraised value of $1.8 million.

Schuldner filed for Chapter 11 protection (Bankr. D. Minn. Case No.
18-43739) on Nov. 30, 2018.  In the petition signed by Carl L.
Green, president, the Debtor disclosed $1,806,000 in assets and
$1,035,000 in debt.  The Hon. Katherine A. Constantine is the case
judge.


SENIOR CARE: PM Mgmt.'s Transfer of Assets to PF Senior Approved
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas Motion
(i) approved the operations transfer and surrender agreement
("OTA") by and between PM Management – Pflugerville AL, LLC
("Transferor") and PF Senior Living, LLC ("New Operator"); and (ii)
authorized the transfer of the certain assets and operations of the
skilled nursing facility known as "Heatherwilde Assisted Living"
located at 401 S. Heatherwilde Blvd, Pflugerville, Texas ("Assets")
from the Transferor to the New Operator pursuant to the OTA, free
and clear of all claims and encumbrances.

The Debtors are prohibited from paying any obligations to their
employees pursuant to the Transaction Documents, including but not
limited to, any severance, retention bonus, or other change in
control payment, unless the Court enters an order authorizing such
payment.  Any severance, retention bonus, or other change in
control payment contemplated by the OTA that is payable because of
any sale is limited to the extent required by applicable Bankruptcy
law.

Subject to the terms of the Order, the Assets are transferred free
and clear of all liens, claims, interests, or encumbrances,
provided, however, that for any party holding a secured interest in
the Assets senior to any interest held by Heatherwilde Assisted
Living, LLC ("Landlord") (or an ownership interest, if any third
party owns any goods or equipment located at the Facility), the New
Operator will receive such Assets subject to such interest unless
such interest is satisfied in a manner agreed to by the holder
thereof or as otherwise determined by the Court.

Certain of the Debtors are parties to Medicare provider agreements
with the Secretary of the United States Department of Health and
Human Services ("HHS"), acting through its designated component,
the Centers for Medicare & Medicaid Services ("CMS"), to receive
payment for services provided to Medicare beneficiaries pursuant to
the provisions of, and regulations promulgated under, Title XVIII
of the Social Security Act.

Notwithstanding anything in the Order, the Motion, the OTA, or the
Transaction Documents:

     (a) the Provider Agreements will be governed exclusively and
solely by the Medicare statutes, regulations, rules, policies, and
procedures, including, but not limited to, the adjustment of any
payments to the New Operators;

     (b) the Provider Agreements will be automatically assigned to
the New Operators upon a change in ownership pursuant to 42 C.F.R.
Section 489.18(c), and upon assignment, the Provider Agreements
will be subject to all applicable Medicare statutes, regulations,
rules, policies, and procedures, and will be subject to the terms
and conditions under which the Provider Agreements were originally
issued, including, but not limited to, the repayment of all
pre-assignment Medicare overpayments and all other monetary
liabilities,  regardless of whether yet determined by CMS;

     (c) the New Operators and the Provider Agreements will be
subject to compliance with applicable health and safety standards
pursuant to all Medicare statutes, regulations, rules, policies,
and procedures;

     (d) nothing will affect or impair the United States' defenses,
claims, rights, or ability to recoup, setoff, or otherwise recover
Medicare overpayments and any other monetary liabilities from the
Debtors and/or any New Operator under the Provider Agreements in
accordance with the Medicare statutes, regulations, rules,
policies, and procedures;

     (e) nothing will relieve or be construed to relieve the
Debtors or any New Operator from complying with all Medicare
statutes, regulations, rules, policies, and procedures, including,
but not limited to, the requirement that the Debtors and any New
Operator apply for and obtain CMS approval of a change of ownership
by the filing of Form CMS-855A; and

     (f) the Debtors and/or New Operators will retain their
respective right to appeal CMS' overpayment determination in
accordance with the applicable statutes and regulations.

Certain of the Debtors are parties to Medicaid provider agreements
with the Texas Health and Human Services Commission ("HHSC").  

Notwithstanding anything in the Order, the Motion, the OTA, or the
Transaction Documents:

     a. The Medicaid Agreements will be governed exclusively and
solely by applicable Medicaid statutes, regulations, rules,
policies, and procedures, including, but not limited to, the
adjustment of any payments to the New Operators;

     b. The New Operators and the Medicaid Agreements will be
subject to compliance with applicable health and safety standards
pursuant to all Medicaid statutes, regulates, rules, policies, and
procedures;

     c. Nothing will affect or impair HHSC's defenses, claims,
rights, or ability to recoup, setoff, or otherwise recover Medicaid
overpayments and any other monetary liabilities from the Debtors
and/or any New Operator under the Medicaid Agreements in accordance
with all applicable Medicaid statutes;

     d. Nothing will relieve or be construed to relieve the Debtors
or any New Operator from complying with all applicable Medicaid
statutes, regulations, rules, policies, and procedures; and

     e. The Debtors and/or New Operators will retain their
respective right to an administrative appeal of any overpayment
determination in accordance with the applicable statutes and
regulations.

Certain equipment and/or vehicles that are subject to leases
between certain of the Debtors and Wells Fargo Equipment Finance,
Inc., Wells Fargo Bank, doing business as Wells Fargo Equipment
Finance, and/or Wells Fargo Financial Leasing, Inc. are, or may be,
located at the Facility. Notwithstanding any other term or
provision of the Order, subsequent to the transfer of the Assets to
the New Operator, Wells Fargo will retain its liens and interests
in the Wells Fargo Equipment, which will be transferred to the New
Operator subject to such liens and interests, and any rights or
interests of the Debtors therein will be deemed to be terminated
following the effective date of the transfer to the New Operator.

Wells Fargo and the New Operator may enter into such new equipment
lease, lease assumption, or other transaction regarding the Wells
Fargo Equipment to which such parties may mutually agree and, in
the absence of such agreement, Wells Fargo will be permitted to
exercise its legal or contractual in rem rights and remedies with
respect to the Wells Fargo Equipment, as to which the automatic
stay will be terminated upon Closing.  With Wells Fargo's consent,
the Debtors will file a motion to formally assume or reject any
contracts or leases pertaining to the Wells Fargo Equipment, in
consultation with the New Operator, within 90 days of the Closing.

Notwithstanding any applicable Bankruptcy Rule or Local Bankruptcy
Rule to the contrary, the Order is effective and enforceable
immediately upon entry, no stay applies, and the Debtors may
complete the transactions contemplated immediately.  The Order is
intended to be, and in respects will be, a final order regarding
the relief granted, and will not be an interim order.

                    About Senior Care Centers

Senior Care Centers, LLC -- https://senior-care-centers.com/ -- is
a Dallas-based, skilled nursing and long-term care industry leader
in Texas and Louisiana. Senior Care Centers operates and manages
more than 100 skilled nursing and assisted/independent living
communities in the states of Texas and Louisiana.

On Dec. 4, 2018, Senior Care Centers and 120 of its subsidiaries
filed voluntary Chapter 11 petitions (Bankr. N.D. Tex. Lead Case
No. 18-33967).

The Debtors tapped Polsinelli PC as bankruptcy counsel; Hunton
Andrews Kurth LLP as conflicts counsel; Sitrik and Company as
communications consultant; and Omni Management Group, Inc. as
claims, noticing, and administrative agent.

On Dec. 14, 2018, the Office of the United States Trustee for the
Northern District of Texas appointed an official committee of
unsecured creditors in these Chapter 11 cases.


SENIOR CARE: Seeks to Hire Stephen Duck CPA as Accountant
---------------------------------------------------------
Senior Care Centers, LLC and its debtor-affiliates seek authority
from the U.S. Bankruptcy Court for the Northern District of Texas
to hire Stephen Duck CPA, PC, as their accountant nunc pro tunc to
April 2.

The services to be provided by the firm include the completion of
specific reports for submission to Centers for Medicare and
Medicaid for each facility for the 2018 fiscal year.  The firm will
charge a fixed fee of $359,050.

Stephen Duck, president of Stephen Duck CPA, attests that his firm
is a "disinterested person" as defined in Section 101(14) of the
Bankruptcy Code.

The firm can be reached at:

     Stephen Duck, CPA
     Stephen Duck CPA, PC
     3400 West Loop 281
     Longview, TX 75604
     Office: 903-759-2624
     Cell: 903-235-9663
     Fax: 903-759-0714
     Email: stephen@sduckcpa.com

                   About Senior Care Centers

Senior Care Centers, LLC -- https://senior-care-centers.com/ -- is
a Dallas-based, skilled nursing and long-term care industry leader
in Texas and Louisiana. Senior Care Centers operates and manages
more than 100 skilled nursing and assisted/independent living
communities in the states of Texas and Louisiana.

On Dec. 4, 2018, Senior Care Centers and 120 of its subsidiaries
filed voluntary Chapter 11 petitions (Bankr. N.D. Tex. Lead Case
No. 18-33967).

The Debtors tapped Polsinelli PC as bankruptcy counsel; Hunton
Andrews Kurth LLP as conflicts counsel; Sitrik and Company as
communications consultant; and Omni Management Group, Inc. as
claims, noticing, and administrative agent.

On Dec. 14, 2018, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors in the Chapter 11 cases.
The committee tapped Greenberg Traurig, LLP as counsel, and FTI
Consulting, Inc., as its financial advisor.


SENIOR NH: Taps Hansen Hunter & Co. as Financial Advisor
--------------------------------------------------------
Senior NH, LLC received approval from the U.S. Bankruptcy Court for
the Northern District of Georgia to hire Hansen Hunter & Co., P.C.
as its financial advisor.

Hansen Hunter will provide these accounting and financial advisory
services:

     a) healthcare consulting and reimbursement services, including
the preparation of Medicare and Medicare cost reports, billing and
collections, general accounting, financial statements, cash
management and forecasting, and financial advisory;

     b) bankruptcy assistance work, including assistance with the
preparation of statement of financial affairs and schedules, cash
collateral spreadsheets, monthly operating reports, and other
accounting and consulting services requested by the Debtor and its
counsel.

The firm's hourly rates are:

     Partner               $275
     Accountant            $150 - $200
     Billing assistance    $125 - $150
     Accounts Payable      $75 - $125

DeDe Nichols, a shareholder of Hansen Hunter, attests that the firm
is a "disinterested person" as that term is defined in Section
101(14) of the Bankruptcy Code.

The firm can be reached at:

     DeDe Nichols
     Jeffrey S. Moore, CPA
     Hansen Hunter & Co., P.C.
     8930 SW Gemini Dr
     Beaverton, OR 97008, USA
     Phone: (800) 547-3159
     Email: jmoore@hhc-cpa.com

                    About Senior NH LLC

Senior NH, LLC operates a 100-bed skilled nursing facility known as
the Enid Senior Care located at 410 N. 30th Street, Enid, Okla.  

Senior NH sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. N.D. Ga. Case No. 18-65904) on Sept. 21, 2018.  In the
petition signed by Christopher F. Brogdon, managing member, the
Debtor estimated assets of less than $10 million and liabilities of
less than $50 million.  The Debtor tapped Theodore N. Stapleton,
Esq., at Theodore N. Stapleton, P.C., as its counsel.


SHARON K. BOE: $805K Sale of Seattle Property to JJWC Approved
--------------------------------------------------------------
Judge Christopher M. Alston of the U.S. Bankruptcy Court for the
Western District of Washington authorized Sharon K. Boe's (i) sale
of the real property at 9635 16th Ave SW, Seattle, Washington, King
County tax parcel # 0123039001, to Everard/Lajcunesse/JJWC, LLC for
$805,000; and (ii) assumption and assignment to the Buyer of her
lease with Log-O-Rythmes, LLC.

The sale is free and clear of any and all liens, claims and
interests.

The Debtor is authorized to and shall, by and through the escrow
agent for the sale, pay (1) a commission equal to 6% of the sales
price, with such commission to be divided between the listing and
selling agents who were involved in the transaction; (2) any unpaid
real estate taxes, prorated to the date of closing; (3) any
lienable utility charges; and (4) the cost of a standard title
insurance policy and any and all other customary closing costs that
are reasonably necessary to carry out and complete a sale of the
subject property, with such payments to be made from the sale
proceeds at the time of closing.

The liens against the property in favor of (1) the individuals
("CMI Investors Pool") holding the first deed of trust against the
Property formerly held by Chesterfield Mortgage Investors, Inc. and
subsequently assigned by Chesterfield's duly-appointed and
authorized receiver to the CMI Investors Pool; and (2) the judgment
lienholders: (a) Dundrum in the amount of $1876; (b) Cavalry SPV, I
in the amount of $17,025; and (c) CACH in the amount of $3645; will
attach to the proceeds of sale in the order of priority as such
liens attached to the Property.  In the event any other judgment
lien appears of record against the Property, such judgment lien
will attach to the proceeds of sale pending further order of the
Court.

The escrow/closing agent will remit the remaining proceeds of sale
to counsel for the debtor in possession, James E. Dickmeyer, who
will hold such proceeds in trust pending further order of the
Court.

The lease of the Property from the Debtor to Log-O-Rythmes, LLC
dated Dec. 3, 2013 is assumed and assigned to the Buyer effective
upon closing of the sale.  The Debtor is authorized to transfer to
the Buyer any and all security or damage deposits held for the
benefit of Log-O-Rythmes, LLC.

The 14-day stay under BR 6004(h), which normally applies to an
order approving sale of real property, is waived.

A copy of the Agreement attached to the Order is available for free
at:

   http://bankrupt.com/misc/Sharon_Boe_61_Order.pdf

Sharon K. Boe sought Chapter 11 protection (Bankr. W.D. Wash. Case
No. 19-10059) on Jan. 10, 2019.  The Debtor tapped James E.
Dickmeyer, Esq., as counsel.



SILVER STATE HOLDINGS: Case Summary & 13 Unsecured Creditors
------------------------------------------------------------
Debtor: Silver State Holdings Assignee - 7901 Boulevard 26 LLC
        7901 Boulevard 26
        North Richland Hills, TX 76180

Business Description: Silver State Holdings Assignee - 7901
                      Boulevard 26 LLC is a Single Asset Real
                      Estate (as defined in 11 U.S.C. Section
                      101(51B)).

Chapter 11 Petition Date: April 18, 2019

Court: United States Bankruptcy Court
       Northern District of Texas (Ft. Worth)

Case No.: 19-41579

Judge: Hon. Mark X. Mullin

Debtor's Counsel: Davor Rukavina, Esq.
                  MUNSCH, HARDT, KOPF & HARR, P.C.
                  500 N. Akard Street, Ste 3800
                  Dallas, TX 75201-6659
                  Tel: (214)855-7587
                  Fax: 214-978-5359
                  E-mail: drukavina@munsch.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Richard Morash, authorized signatory.

A copy of the Debtor's list of 13 unsecured creditors is available
for free at:

     http://bankrupt.com/misc/txnb19-41579_creditors.pdf

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

          http://bankrupt.com/misc/txnb19-41579.pdf


SOUTHERN UNIVERSITY: Moody's Withdraws Ba1 Issuer Rating
--------------------------------------------------------
Moody's Investors Service has withdrawn the issuer rating of
Southern University System, LA. At the time of the withdrawal, the
issuer rating was Ba1 and the outlook was negative.

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


STOCKTON CITY: Moody's Withdraws Ca on 2007 Pension Obligation Bond
-------------------------------------------------------------------
Moody's Investors Service has upgraded the City of Stockton's
Issuer Rating to A3 from Baa1. The Issuer Rating is the equivalent
to what the city's GO rating would be if it had such debt. Moody's
also withdrew the Ca rating on the city's outstanding 2007 Taxable
Pension Obligation Bond. The outlook is stable.

RATINGS RATIONALE

The upgrade to A3 reflects the continued moderate growth in the
city's assessed value and improved financial position supported by
healthy reserves and liquidity. The city's five year average
available operating fund balance is strong at 39.6% of operating
revenues. The A3 rating incorporates the city's sizeable and
diverse tax base and weak socioeconomic indicators. The rating also
reflects the city's low debt burden and elevated pension burden.
Rising pension costs and funding city infrastructure needs will
also continue to be budgetary pressures.

Moody's has withdrawn the Ca rating on the city's 2007 Taxable
Pension Obligation Bond based on the city restructuring its debt
under its bankruptcy exit plan.

RATING OUTLOOK

The stable outlook reflects its expectation that the city's
assessed value will continue to benefit from moderate growth and a
sound financial position supported by the city's formal policy of
maintaining a working capital reserve at 17%.

FACTORS THAT COULD LEAD TO AN UPGRADE

  - Aligning ongoing expenditures with recurring revenues and
maintaining liquidity and reserves within current levels

  - Improved socioeconomic indicators

  - Continued contributions to the city's 115 pension trust and
sizeable reduction in its outstanding pension liability

FACTORS THAT COULD LEAD TO A DOWNGRADE

  - Significant reduction in reserves and liquidity

  - Sizeable contraction in assessed value

  - Inability to manage pension costs

LEGAL SECURITY

The Issuer Rating is an implied General Obligation Unlimited Tax
rating (GOULT). GOULT bonds are secured by the city's
voter-approved unlimited property tax pledge.

USE OF PROCEEDS

Not applicable

PROFILE

With a population of approximately 300,000, Stockton is
California's thirteenth's largest city and the largest city in San
Joaquin County. The city is governed by a six-member City Council,
and the City Manager is responsible for carrying out the policies
and ordinances of City Council. The city provides a full range of
municipal service such as police and fire protection, community
development, economic development, and affordable housing, public
works and street maintenance, parks, recreational services,
libraries, and water, wastewater and stormwater utilities.


STONEMOR PARTNERS: Names Garry Herdler as Chief Financial Officer
-----------------------------------------------------------------
Garry P. Herdler has been appointed senior vice-president and chief
financial officer of StoneMor Partners L.P., effective April 15,
2019.  Mr. Herdler will succeed Mark Miller, who is retiring from
the Partnership.

Mr. Herdler joins StoneMor with more than 25 years combined
experience as CFO, private equity management consultant, investment
banker, and as a KPMG CPA/CA and tax advisor.  He has been a CFO of
six private equity owned firms, a global real estate firm, and a
NYSE-listed firm.  He has a broad background as CFO in many
situations and sectors, including multi-channel retail, consumer
and health services, homebuilding, real estate, manufacturing, and
media.  Most recently, Mr. Herdler was the chief financial officer
of QuadReal Property Group, a real estate investment, development
and management company headquartered in Vancouver, Canada, where he
led the financial integration of four firms with a C$27 billion
portfolio across 17 countries.  Prior to his CFO role at QuadReal,
Mr. Herdler was a senior director in the Private Equity Performance
Improvement Group of Alvarez & Marsal Consultants in New York.
Previously, Mr. Herdler acted as a financial consultant and CFO for
various private equity-owned companies, responsible for operational
improvements, business integration and turnarounds.  He also has
nearly ten years of investment banking experience in leveraged
finance and equities with Deutsche Bank Securities/Bankers Trust
and CIBC World Markets, primarily in New York, where he completed
transactions in several industries, including deathcare.

"Our company is very fortunate to have someone of Garry's caliber
and operational experience join our team," said Joe Redling,
StoneMor's president and chief executive officer.  "We look forward
to utilizing his broad experience assisting companies through
periods of high change, operational improvement, integration and
turnaround.  His experience in leveraged debt capital markets and
equities, as well as his previous deathcare experience with the
$850 million credit facility and notes offering to refinance
Stewart Enterprises, will be especially valuable as we navigate the
refinancing of our own credit facility," added Redling.  "We are
also grateful to outgoing CFO, Mark Miller, for his efforts during
his time at StoneMor, and we wish him all the best in his
retirement," said Redling.

"I am looking forward to partner with Joe, the StoneMor team, and
the Board to achieve the Partnership's objectives," said Mr.
Herdler.  "Our goal is to focus on capital structure, strategic
balance sheet/portfolio review, and performance improvements from
cost reduction and revenue enhancements.  Most importantly, I
respect the sensitive and important nature of the care StoneMor
provides, and ultimately this is also about improving the services
we bring to the families and people that we serve."

"I'm very pleased with the management team we now have in place,"
Redling said.  "In combination with the recent actions we've taken
to drive efficiencies and improve profitability, I'm confident that
we are putting in place the necessary foundation to better position
StoneMor for future opportunities."

In connection with Mr. Herdler's appointment, StoneMor GP and Mr.
Herdler entered into an employment agreement on April 10, 2019.

The Employment Agreement provides that Mr. Herdler's employment
with StoneMor GP as senior vice president and chief financial
officer commenced on the Effective Date and will continue unless
terminated by either party.  The Employment Agreement also provides
that Mr. Herdler will have such duties and authority as are
customarily associated with such position in similarly sized
companies, and such other duties, authority and responsibilities as
otherwise determined from time to time by StoneMor GP's chief
executive officer or Board of Directors that are not inconsistent
with his position with StoneMor GP.  Mr. Herdler will report
directly to the CEO.

Mr. Herdler's initial base salary under the Employment Agreement is
$450,000 per year, which base salary will be subject to annual
review by the Board.  Any decrease in base salary will be made only
to the extent StoneMor GP contemporaneously and proportionately
decreases the base salaries of all of its senior executives.

The Employment Agreement provides that Mr. Herdler will be entitled
to receive an annual incentive cash bonus with respect to each
calendar year, provided that he will not be eligible to receive
such bonus if he is not employed on the last day of the fiscal year
to which such bonus relates.  The amount of the cash bonus will be
targeted at 75% of his base salary with respect to the applicable
calendar year, will not be prorated for 2019 and will be based on
specific, individual and StoneMor GP goals set by the Compensation
Committee of the Board.  Mr. Herdler will be entitled to a minimum
incentive cash bonus for 2019 of $202,500 (less any taxes and other
applicable withholdings) that will be payable in three equal
installments on July 1, September 1 and December 1, 2019 provided
he remains employed on the applicable payment date.

Pursuant to the Employment Agreement, Mr. Herdler was awarded a
grant of 275,000 restricted common units of the Partnership.

The Employment Agreement provides that StoneMor GP will reimburse
Mr. Herdler for the cost of a supplemental directors' and officers'
insurance policy for up to $5,000,000 in aggregate coverage and
will pay up to $10,000 in attorneys' fees incurred by Mr. Herdler
in connection with the review, negotiation and documentation of the
agreement, upon presentation of appropriate receipts for those
fees.

                    About StoneMor Partners

StoneMor Partners L.P., headquartered in Trevose, Pennsylvania --
http://www.stonemor.com/-- is an owner and operator of cemeteries
and funeral homes in the United States, with 322 cemeteries and 90
funeral homes in 27 states and Puerto Rico.  StoneMor's cemetery
products and services, which are sold on both a pre-need (before
death) and at-need (at death) basis, include: burial lots, lawn and
mausoleum crypts, burial vaults, caskets, memorials, and all
services which provide for the installation of this merchandise.

StoneMor reported a net loss of $72.69 million for the year ended
Dec. 31, 2018, compared to a net loss of $75.15 million for the
year ended Dec. 31, 2017.  As of Dec. 31, 2018, the Partnership had
$1.66 billion in total assets, $1.67 billion in total liabilities,
and a total partners' deficit of $6.57 million.

                          *     *     *

As reported by the TCR on Feb. 13, 2019, Moody's Investors Service
downgraded StoneMor Partners L.P.'s Corporate Family rating to Caa2
from Caa1 and Probability of Default rating to Caa3-PD from
Caa1-PD.  The Caa2 CFR reflects Moody's concern that if pre-need
cemetery selling and liquidity pressures do not abate while the
senior secured credit facility is being refinanced, a distressed
exchange or other default event could become more likely.  

In February 2019, S&P affirmed its 'CCC+' issuer credit rating on
StoneMor Partners LP.  S&P said "The rating affirmation reflects
our view that StoneMor's capital structure is unsustainable and
reflects our expectation that the company will produce cash flow
deficits in 2019.  However, we affirmed the rating because we
believe the company has sufficient liquidity over the next 12
months given the new bridge loan."


TWIN RIVER: S&P Affirms 'BB-' ICR Despite Leveraging Distribution
-----------------------------------------------------------------
S&P Global Ratings affirmed its 'BB-' issuer credit rating on U.S.
gaming operator Twin River Worldwide Holdings Inc., which plans to
issue a new senior secured credit facility and $350 million in
senior unsecured notes to refinance its debt and fund a
distribution to shareholders.

S&P assigned its 'BB' issue-level rating and '2' recovery rating to
the proposed senior secured debt, which consists of a $250 million
revolver (undrawn at close) and a $350 million senior secured term
loan B.  Meanwhile, S&P assigned its 'B' issue-level rating and '6'
recovery rating to the proposed senior unsecured notes.

The affirmation reflects S&P's expectation that Twin River can
absorb the leveraging impact of the planned return to shareholders
and remain below the rating agency's 4x downgrade threshold.
Furthermore, S&P believes that Twin River's good free cash flow
generation through 2020 will enable Twin River to voluntarily repay
portions of its term loan to improve leverage. Its development
capital expenditure (capex) plans completed, with $100 million to
build its Tiverton property and the Lincoln hotel over 2017 and
2018, S&P expects Twin River to generate free operating cash flow
(FOCF) of $90 million-$95 million per year in 2019 and 2020. Twin
River can use this cash to voluntarily repay the proposed term
loan, facilitating deleveraging without reliance on significant
EBITDA growth. Under S&P's base-case assumptions, which
incorporates a shareholder distribution of roughly $250 million
this year, leverage will be in the high-3x area in 2019. However,
based on its forecast for FOCF, S&P expects the company to
deleverage to the mid-3x area by 2020, building in 0.5x of cushion
to the rating agency's 4x downgrade threshold.

The stable rating outlook on Twin River reflects S&P's expectation
of leverage below its 4x downgrade threshold over the next two
years. Including the impact of the recently closed merger with
Dover Downs, the two new competing casinos in Massachusetts, and
the company's planned capital return to shareholders, S&P
anticipates adjusted debt to EBITDA will improve to the mid-3x area
in 2020 from the high-3x area in 2019. The rating agency expects
performance through 2020 will be supported by an increasing macro
environment, more diversification from the Dover Downs merger, and
what it increasingly views as manageable disruption from new
competition in Massachusetts.

"We could consider lower ratings if adjusted debt to EBITDA were to
increase and be sustained above 4x. This would likely occur from a
more meaningful decline from the Massachusetts competition than we
forecast or the company adopting a more aggressive financial policy
with respect to shareholder distributions, acquisitions, or
development spending that increased adjusted debt to EBITDA above
4x," S&P said.

"Ratings upside is unlikely at this time given our forecast for
leverage through 2020 as well as some uncertainty surrounding the
longer-term impact of new competition in Massachusetts. For higher
ratings, we would need to believe that Twin River will sustain
adjusted debt to EBITDA under 3x and adjusted funds from operations
(FFO) to debt above 30%," S&P said.


UNITED BUSINESS: Involuntary Chapter 11 Case Summary
----------------------------------------------------
Alleged Debtor:         United Business Freight Forwarders
                        Limited Liability Company
                        669 Division Street
                        Elizabeth, NJ 07201

Business Description:   United Business Freight Forwarders
                        provides freight haulage services.

Involuntary Chapter 11
Petition Date:          April 18, 2019

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

Case Number:            19-17906

Judge:                  Hon. Stacey L. Meisel

Petitioners' Counsel:   Scott H. Bernstein, Esq.
                        STRADLEY RONON STEVENS & YOUNG, LLP
                        100 Park Avenue, Ste 2000
                        New York, NY 10017
                        Tel: 212-812-4132
                        Fax: 646-682-7180
                        E-mail: sbernstein@stradley.com

List of Petitioning Creditors:

  Petitioner                  Nature of Claim  Claim Amount
  ----------                  ---------------  ------------
Change Capital Holdings I, LLC   Agreement        $100,000
600 Madison Avenue
18th Floor
New York, NY 10022

Azadian Group LLC                Agreement         $100,000
600 Madison Avenue
18th Floor
New York, NY 10022

Christopher Carey                Agreement         $880,867
2 N. 6th Place
Unit 30E
Brooklyn, NY 11249

A full-text copy of the Involuntary Petition is available for free
at:
http://bankrupt.com/misc/njb19-17906.pdf


UNIVERSITY PHYSICIAN: Directed to File 2nd Amended Plan
-------------------------------------------------------
On April 5, 2019, University Physician Group filed a first amended
combined plan and disclosure statement.  The Bankruptcy Court
concludes that it cannot yet grant preliminary approval of the
Disclosure Statement and directed the Debtor to provide UPG's cost
for Karen Turner and Diana Goode's medical, dental, vision, life
insurance, long term disability, and 403(b) matching contribution.

The Debtor must file a second amended combined plan and disclosure
statement consistent with this order.

              About University Physician Group

University Physician Group -- http://www.wsupgdocs.org/-- is a
non-profit multi-specialty physician practice group in southeast
Michigan, providing primary and specialty care.  Its doctors
provide medical care while conducting groundbreaking research and
continuing education at Wayne State University, one of the nation's
top medical universities.

University Physician Group sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. E.D. Mich. Case No. 18-55138) on Nov.
7, 2018.  At the time of the filing, the Debtor estimated assets of
$10 million to $50 million and liabilities of $10 million to $50
million.

The case has been assigned to Judge Mark A. Randon.  The Debtor
tapped Steinberg Shapiro & Clark as lead counsel, and Robert
Bassel, Esq., as co-counsel with Steinberg.

The U.S. Trustee for Region 9 appointed an official committee of
unsecured creditors on Nov. 26, 2018.  The committee tapped Pepper
Hamilton LLP as its legal counsel.


US SILICA: Moody's Alters Outlook on B1 CFR to Negative
-------------------------------------------------------
Moody's Investors Service affirmed all ratings of U.S. Silica
Company, Inc. including its B1 Corporate Family Rating and B1-PD
Probability of Default Rating. The Speculative Grade Liquidity
Rating was affirmed at SGL-2 along with the B1 rating on the
company's existing senior secured bank credit facility. The rating
outlook was changed from stable to negative.

Outlook Actions:

Issuer: US Silica Company, Inc.

Outlook, Changed To Negative From Stable

Affirmations:

Issuer: US Silica Company, Inc.

Probability of Default Rating, Affirmed B1-PD

Speculative Grade Liquidity Rating, Affirmed SGL-2

Corporate Family Rating, Affirmed B1

Senior Secured Revolving Credit Facility, Affirmed B1 (LGD3)

Senior Secured Term Loan B, Affirmed B1 (LGD3)

RATINGS RATIONALE

The negative outlook reflects its expectations that industry
weakness will persist and US Silica's credit metrics will
deteriorate further. For 2019, Moody's expects revenues and
operating profits to decline by 11% and 75%, respectively, total
debt-to-EBITDA to increase to 5.5x from 3.5x, total debt-to-book
capitalization to worsen to 61% from 59% and adjsuetd
EBIT-to-interest expense to decline to 0.5x from 2.4x.

Since mid-2018, prices for frac sand have declined by more than 20%
due to overcapacity and the displacement of Northern White Sand by
cheaper in-basin sand. Despite, recent mine closures and production
cuts Moody's does not expect any significant price recovery as many
miners have committed to higher volumes at lower prices.

The company's current B1 credit rating takes into consideration its
good liquidity profile, scale, distribution capability, revenue mix
and earnings volatility.

Moody's affirms US Silica's Speculative Grade Liquidity Rating
(SGL-2) to reflect its good liquidity profile resulting from its
ability to fund from internal sources its operations, service its
debt, deploy capital and pay dividends to its investors. This is
supported by $202 million of cash on hand (as of December 31, 2018)
and lack of near-term debt maturities as its $100 million revolver
expires in 2023 and its $1.28 billion term loan matures in 2025.
The principal financial covenant under the existing revolving
credit facility and the fully drawn $1.28 billion term loan
facility is a maximum leverage ratio covenant test of 3.75x that
gets only triggered whenever usage under the revolver exceeds 30%
of the revolving commitment. Moody's rating assumes that the
company will not utilize the revolver to meet internal uses of cash
but rather cash on hand.

Moody's indicated that the ratings could be stabilized if adjusted
debt-to-book capitalization is maintained under 60%, adjusted
EBIT-to-interest is sustained above 2.0x and adjusted operating
margin is above 20%. A stable outlook would also require robust
liquidity, free cash flow generation, and healthy oil and natural
gas end markets.

The ratings could be downgraded if liquidity deteriorates in part
by lack of free cash generation, revolver availability and/or
weakened financial flexibility, possibly due to aggressive growth,
large debt-funded acquisitions or shareholder friendly activities
such as share repurchases. In addition, rating could be presured if
adjusted EBIT-to-interest remains below 1.0x, adjusted operating
margin deteriorates to below 10% for an extended period of time, or
adjusted debt-to-book capitalization stays above 60%.

The principal methodology used in these ratings was Building
Materials Industry published in January 2017.

Based in Katy, Texas, U.S. Silica operates 27 silica mining and
processing facilities. It is one of the largest producers of silica
and engineered materials derived from minerals in North America.
The company holds approximately 627 million tons of reserves,
including 297 million tons of API spec frac sand and 56 million
tons of reserves of diatomaceous earth, perlite, and clays. U.S.
Silica is currently organized into two segments: (1) Oil & Gas
Proppants, which serves the oil & gas exploration and production
industry, and (2) Industrial & Specialty Products, which serves the
foundry, automotive, building products, sports and recreation,
glassmaking and filtration industries. In 2018, U.S. Silica
generated $1.6 billion of revenue, of which 75% was from the oil &
gas segment.


USINA DE ACUCAR: Chapter 15 Case Summary
----------------------------------------
Two affiliates that filed voluntary petitions seeking relief under
Chapter 15 of the Bankruptcy Code:

        Chapter 15 Debtor                             Case No.
        -----------------                             --------
        Usina De Acucar Santa Terezinha Ltda.         19-11199
        Avenida Pioneiro Victrio Marcon, 693
        Parque Industrial II
        Maringa, PR 87065-120
        Brazil

        USACIGA - Acucar, Alcool e                    19-11200
        Energia Eletrica Ltda.
        Avenida Pioneiro Victrio Marcon, 693
        Parque Industrial II
        Maring, PR 87065-120

Business Description:        Usina De Acucar Santa Terezinha Ltda.
                             manufactures and markets sugar and
                             ethanol products.  Usina de Acucar
                             Santa Terezinha, a limited society,
                             was constituted in the early 60's.
                             Visit https://www.usacucar.com.br for
                             more information.

Chapter 15 Petition Date:    April 18, 2019

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

Judge:                       Hon. Michael E. Wiles

Chapter 15 Petitioner:       Andrew B. Janszky
                             Rua Nova Cidade, 147, atp. 171
                             Vila Olimpia, SP, 04547-070

Foreign Proceeding in
Which Appointment of
the Foreign Representatives
Occurred:                    Recuperacao Judicial ("RJ"), Pending
                             in the 4th Civil Court of the
                             Judicial District of Maringa, State
                             of Parana, Brazil

Chapter 15 Petitioner's  
Counsel:                     Lauren C. Doyle, Esq.
                             Abhilash M. Raval, Esq.
                             Dennis C. O'Donnell, Esq.
                             MILBANK LLP
                             55 Hudson Yards
                             New York, NY 10001
                             Tel: 212-530-5053
                                  212-530-5000
                             E-mail: ldoyle@milbank.com
                                     araval@milbank.com
                                     dodonnell@milbank.com

                                  - and -

                             Fabiana Y. Sakai, Esq.
                             MILBANK LLP
                             Rua Colombia, 325
                             CEP 01438-000
                             Sao Paulo, SP
                             Brazil
                             Tel: +55 11.3927.7781
                             E-mail: fsakai@milbank.com

Estimated Assets:            Unknown

Estimated Debts:             Unknown

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

           http://bankrupt.com/misc/nysb19-11199.pdf
           http://bankrupt.com/misc/nysb19-11200.pdf


VIZIENT INC: Moody's Rates New $300MM Sr. Unsecured Notes 'B3'
--------------------------------------------------------------
Moody's Investors Service assigned B3 ratings to Vizient, Inc.'s
new $300 million senior unsecured notes. Proceeds from the new
notes will be used to refinance some of Vizient's existing
indebtedness. There are no changes to the other ratings including
the B1 Corporate Family Rating and the B1-PD Probability of Default
Rating. The rating outlook remains stable.

Moody's views the refinancing as credit positive as it will extend
the maturities on the senior unsecured bonds, lower Vizient's
overall cost of debt and improve Vizient's liquidity.

Ratings assigned:

  Senior unsecured notes due 2027 at B3 (LGD6)

LGD Adjustment:

  Senior unsecured notes due 2024 LGD adjusted to
  B3 (LGD6) from B3 (LGD5) (rating to be withdrawn
  upon close)

RATINGS RATIONALE

Vizient's B1 Corporate Family Rating reflects the company's
moderately high financial leverage of around 4.0x, pricing pressure
in the Group Purchasing Organization (GPO) business, and history of
debt-funded acquisitions. The rating is supported by the company's
solid scale and market presence as the largest GPO in the US, good
geographic and customer diversification and very good liquidity
profile. The rating is also supported by the company's track record
of deleveraging and debt repayment. The company expects to pay down
an additional $25 million of debt prior to refinancing, which will
further improve leverage.

The stable outlook reflects Moody's view that Vizient's solid
operating performance will allow the company to further improve
leverage and cash flows, but the credit profile will remain
constrained by continued pricing pressure in the GPO business.

The ratings could be upgraded if Vizient significantly improves its
earnings and cash flow and further diversifies the business by
growing the healthcare advisory and analytics segments.
Specifically, if adjusted debt to EBITDA is sustained below 3.5
times, the ratings could be upgraded.

The ratings could be downgraded if earnings decline, liquidity
deteriorates, free cash flow becomes negative or the company
engages in material debt-financed acquisitions or dividends. If
debt to EBITDA is expected to be sustained above 4.5 times, the
ratings could be downgraded.

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

Vizient generates over half of its revenue from its GPO sourcing
and administrative fee businesses. The company also provides
advisory and analytics services. Vizient's customers range from
independent, community-based healthcare organizations to large,
integrated hospitals and academic medical centers. The company
operates under a participant member ownership structure and has
revenue of approximately $1.2 billion.


VIZIENT INC: S&P Rates $300MM Unsecured Notes 'B'
-------------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating and '6'
recovery rating to Vizient Inc.'s proposed $300 million unsecured
notes.

The '6' recovery rating indicates S&P's expectation for negligible
recovery (0%-10%; rounded estimate: 0%) in the event of a payment
default. Vizient intends to use the proceeds from the notes and the
new credit facilities to refinance its existing debt, including the
existing unsecured notes.

S&P's 'BB-' issuer credit rating on Vizient reflects the rating
agency's expectation that the company will pursue its acquisition
strategy but keep leverage below 4.5x. The company's growth and
debt reduction have enabled it to reduce leverage to about 3.7x
from about 4.4x from 2017 to 2018. Its ample cash flow enables both
actual debt repayment and the capacity to fund modest acquisition
activity. S&P believes the company will generate more than $200
million in discretionary cash flow, which the company will use for
tuck-in acquisitions.

The rating also reflects Vizient's specialized focused, but leading
position as the largest group purchasing organization (GPO) serving
acute care hospitals in the U.S. Vizient's size is a competitive
advantage because it can drive higher volume discounts for members,
which are under increasing cost pressure because of reimbursement
and mature volume trends, making Vizient's sourcing and analytics
services increasingly important.


WEI SALES: Moody's Assigns 'Ba3' CFR, Outlook Negative
------------------------------------------------------
Moody's Investors Service assigned WEI Sales LLC a Corporate Family
Rating at Ba3, a Probability of Default Rating at Ba3-PD, and a
negative rating outlook. In addition, Moody's is correcting the
issuer for the B1 rated term loan B to WEI Sales Inc. from Wells
Enterprises, Inc. The final LGD assessment is being changed to LGD
5 from LGD 4. The CFR, PDR and stable rating outlook for Wells
Enterprises Inc. are withdrawn.

Moody's took the following rating actions on WEI SALES LLC:

  - Corporate Family Rating assigned at Ba3

  - Probability of Default Rating assigned at Ba3-PD

The ratings outlook is negative.

Moody's took the following rating actions on Wells Enterprises,
Inc.:

  - Corporate Family Rating is withdrawn, previoulsly Ba3

  - Probability of Default rating is withdrawn, previously
    Ba3-PD

  - Rating outlook of stable is withdrawn

On April 15, 2019, Wells Enterprises Inc acquired FieldBrook Foods
Company for an undisclosed amount. Moody's expects that Wells will
finance the acquisition primarily with debt.

The negative outlook reflects higher expected leverage (debt to
EBITDA) that will exceed 3.0 times following the Fieldbrook
transaction. Moody's believes there is execution risk related to
the company's ability to meaningfully reduce debt and lower
leverage below 3.0x over the next 12-to-18 months because projected
free cash flow and EBITDA growth are modest. Moody's believes
earnings growth may be constrained by increasing costs in milk and
freight that may not be quickly absorbed by its customers.

Moody's nevertheless expects the acquisition of Fieldbrook will
provide operational benefits including diversifying Wells' revenue
mix within the novelty and packaged ice cream segments across
multiple categories and brands. Fieldbrook's east coast presence
will provide better access to retail customer relationships, and
allow Wells to diversify geographically and moderately reduce the
share of revenue from Walmart, which remains the company's largest
customer. The acquisition will also provide increased cross-sell
opportunities within the retail channel.

RATINGS RATIONALE

WEI's Ba3 CFR reflects its small scale relative to the two global
ice cream market leaders, Nestle and Unilever. The company's rating
also reflects its low operating margins and participation in a
mature, low growth industry. The company benefits from a solid
position in private label ice cream manufacturing. The ratings also
take into account WEI's preferenace to maintain moderate financial
leverage, but distributing the bulk of operating cash flow less
capex to shareholders is aggressive and creates greater reliance on
debt to fund acquisitions. Debt to EBITDA will increase above 3.0
times as a result of the Fieldbrook acquisition. Moody's believes
the company can bring debt-to-EBITDA leverage back below this level
within the next 12 to 18 months through a combination of earnings
growth, realization of synergies and debt paydown. However, there
is execution risk because of low single digit industry growth, cost
pressures, and the need to integrate the two companies.

WEI is the borrower under the senior secured term loan B and a
wholly owned subsidiary of Wells, with Wells providing a guarantee
for the term loan B debt issued at WEI.

Ratings could be upgraded if the company improves profitability,
customer and product diversification and sustains good liquidity
including strong discretionary pre-dividend free cash flow.

Ratings could be downgraded if WEI's market position erodes,
operating performance deteriorates, the integration of Fieldbrook
is challenging or costly, liquidity deteriorates, pre-dividend free
cash flow does not improve, or if debt to EBITDA is sustained above
3.0 times.

Headquartered in Le Mars, Iowa, family-owned Wells Enterprises
manufactures ice cream from two locations in Le Mars, Iowa for sale
to customers throughout the United States. The company sells both
branded products and private label products accounting for
approximately 45% and 55% of net sales respectively pro forma for
the acquisition. Pro forma annual sales are around $1.4 billion.


WESTERN ILLINOIS UNIVERSITY: S&P Upgrades Debt Rating to 'BB'
-------------------------------------------------------------
S&P Global Ratings has raised its long-term rating and underlying
rating on Western Illinois University Board of Trustees' auxiliary
facilities system (AFS) revenue bonds, issued for Western Illinois
University (WIU) and the university's certificates of participation
(COPs) outstanding to 'BB' from 'BB-'. The outlook is stable.

"The upgrade reflects our view that WIU's financial recovery is
well underway, based on the timely receipt of funds from the state
comptroller and the significant work of the university's management
team," said S&P Global Ratings credit analyst Jessica Wood.

In the past 18 months, WIU has received stable state funding
disbursements, leading to surplus results in fiscal 2018 and
significantly mitigating short-term liquidity risks, which S&P
views positively in the university's financial recovery process.

S&P assesses WIU's enterprise profile as adequate, with consistent
declining enrollment and weak demand characteristics. It assesses
the university's financial profile as vulnerable, with
substantially weaker operations and resources for fiscal years 2016
and 2017, offset by improved results in fiscal 2018, a low debt
burden with rapid principal amortization, and moderate available
resources. Combined, S&P believes these credit factors lead to an
indicative stand-alone credit profile of 'bb', and final rating of
'BB'. In S&P's opinion, while financial recovery is underway, some
uncertainty remains in the institution's enterprise profile.

WIU is one of nine Illinois public universities. Its principal
campus is in west-central Illinois, about 250 miles southwest of
Chicago and 170 miles north of St. Louis. In addition to the main
Macomb campus, which serves approximately 7,000 undergraduate and
graduate students, WIU has a regional campus in the Quad Cities
area (Moline, Rock Island, Bettendorf, and Davenport) serving
approximately 1,300 students, including extension students. The
school offers 65 baccalaureate degrees in various majors through
its four colleges and 41 academic departments and schools. In light
of the state budget pressures and declining enrollment, management
has actively adjusted its academic curricula.

"The stable outlook reflects our view that, while WIU is rebounding
from the state's budget impasse, enrollment will remain pressured
and the university's financial operations will normalize, with
break-even to slight deficit in fiscal 2019 and available resources
improving modestly in the one-year outlook period," S&P said.

"We could consider a negative rating action during the outlook
period should WIU experience continued and significant enrollment
declines; sustained, material operating deficits; or a substantial
decline in available resources. Any delay in regular state
operating fund disbursement could also stress the rating," the
rating agency said.

A positive rating action would be contingent upon stabilization and
maintenance of the university's enrollment, coupled with continued,
consistent break-even operating margins and growth in available
recourse ratios. S&P would also expect that state operating funds
would continue to be disbursed in a timely manner before
considering a positive rating action.


[^] BOND PRICING: For the Week from April 15 to 19, 2019
--------------------------------------------------------

  Company                    Ticker  Coupon Bid Price   Maturity
  -------                    ------  ------ ---------   --------
Acosta Inc                   ACOSTA   7.750    15.804  10/1/2022
Acosta Inc                   ACOSTA   7.750    15.996  10/1/2022
Aegerion
  Pharmaceuticals Inc        AEGR     2.000    68.250  8/15/2019
Anheuser-Busch InBev
  Worldwide Inc              ABIBB    3.750   102.124  1/15/2022
Approach Resources Inc       AREX     7.000    42.998  6/15/2021
BPZ Resources Inc            BPZR     6.500     3.017   3/1/2015
BPZ Resources Inc            BPZR     6.500     3.017   3/1/2049
Bon-Ton Department
  Stores Inc/The             BONT     8.000     8.250  6/15/2021
Bristow Group Inc            BRS      6.250    14.448 10/15/2022
Bristow Group Inc            BRS      4.500    21.000   6/1/2023
Cenveo Corp                  CVO      8.500     1.346  9/15/2022
Cenveo Corp                  CVO      8.500     1.346  9/15/2022
Cenveo Corp                  CVO      6.000     0.894  5/15/2024
Chukchansi Economic
  Development Authority      CHUKCH   9.750    60.000  5/30/2020
Chukchansi Economic
  Development Authority      CHUKCH  10.250    58.864  5/30/2020
Cloud Peak Energy
  Resources LLC /
  Cloud Peak Energy
  Finance Corp               CLD     12.000    17.433  11/1/2021
Cloud Peak Energy
  Resources LLC /
  Cloud Peak Energy
  Finance Corp               CLD      6.375     3.457  3/15/2024
DBP Holding Corp             DBPHLD   7.750    35.858 10/15/2020
DBP Holding Corp             DBPHLD   7.750    35.858 10/15/2020
DFC Finance Corp             DLLR    10.500    67.125  6/15/2020
DFC Finance Corp             DLLR    10.500    67.125  6/15/2020
Ditech Holding Corp          DHCP     9.000     6.229 12/31/2024
EI du Pont de Nemours & Co   DD       6.500   125.581  1/15/2028
EP Energy LLC / Everest
  Acquisition Finance Inc    EPENEG   9.375    39.694   5/1/2020
EP Energy LLC / Everest
  Acquisition Finance Inc    EPENEG   9.375    34.672   5/1/2024
EP Energy LLC / Everest
  Acquisition Finance Inc    EPENEG   6.375    18.578  6/15/2023
EP Energy LLC / Everest
  Acquisition Finance Inc    EPENEG   7.750    23.891   9/1/2022
EP Energy LLC / Everest
  Acquisition Finance Inc    EPENEG   9.375    34.075   5/1/2024
EP Energy LLC / Everest
  Acquisition Finance Inc    EPENEG   7.750    21.877   9/1/2022
EP Energy LLC / Everest
  Acquisition Finance Inc    EPENEG   7.750    21.877   9/1/2022
EXCO Resources Inc           XCOO     7.500    16.700  9/15/2018
EXCO Resources Inc           XCOO     8.500    16.700  4/15/2022
Energy Conversion
  Devices Inc                ENER     3.000     7.875  6/15/2013
Energy Future Competitive
  Holdings Co LLC            TXU      8.175     0.072  1/30/2037
Energy Future Intermediate
  Holding Co LLC /
  EFIH Finance Inc           TXU      9.750    38.125 10/15/2019
Federal Home Loan Banks      FHLB     2.510    99.671  4/24/2020
Ferrellgas Partners LP /
  Ferrellgas Partners
  Finance Corp               FGP      8.625    74.206  6/15/2020
Ferrellgas Partners LP /
  Ferrellgas Partners
  Finance Corp               FGP      8.625    74.465  6/15/2020
Fleetwood Enterprises Inc    FLTW    14.000     3.557 12/15/2011
Global Eagle
  Entertainment Inc          ENT      2.750    40.500  2/15/2035
Hexion Inc                   HXN     13.750    22.000   2/1/2022
Hexion Inc                   HXN      7.875    20.000  2/15/2023
Hexion Inc                   HXN      9.200    20.000  3/15/2021
Hexion Inc                   HXN     13.750    18.707   2/1/2022
Homer City Generation LP     HOMCTY   8.137    38.750  10/1/2019
Hornbeck Offshore
  Services Inc               HOS      5.875    66.237   4/1/2020
Hornbeck Offshore
  Services Inc               HOS      5.000    57.064   3/1/2021
Hornbeck Offshore
  Services Inc               HOS      1.500    91.250   9/1/2019
Iconix Brand Group Inc       ICON     5.750    25.000  8/15/2023
Jones Energy
  Holdings LLC / Jones
  Energy Finance Corp        JONE     6.750     1.688   4/1/2022
Jones Energy
  Holdings LLC / Jones
  Energy Finance Corp        JONE     9.250     1.688  3/15/2023
Legacy Reserves LP /
  Legacy Reserves
  Finance Corp               LGCY     8.000    26.726  12/1/2020
Legacy Reserves LP /
  Legacy Reserves
  Finance Corp               LGCY     6.625    27.274  12/1/2021
Legacy Reserves LP /
  Legacy Reserves
  Finance Corp               LGCY     8.000    26.319  9/20/2023
Lehman Brothers Inc          LEH      7.500     1.847   8/1/2026
MF Global Holdings Ltd       MF       6.750    14.482   8/8/2016
MF Global Holdings Ltd       MF       9.000    14.500  6/20/2038
MModal Inc                   MODL    10.750     6.125  8/15/2020
Mashantucket Western
  Pequot Tribe               MASHTU   7.350    17.000   7/1/2026
Monitronics
  International Inc          MONINT   9.125     9.778   4/1/2020
Morgan Stanley               MS       3.910    98.930  4/30/2019
Murray Energy Corp           MURREN  11.250    48.635  4/15/2021
Murray Energy Corp           MURREN  11.250    49.473  4/15/2021
Murray Energy Corp           MURREN   9.500    48.008  12/5/2020
Murray Energy Corp           MURREN   9.500    48.008  12/5/2020
Neiman Marcus
  Group Ltd LLC              NMG      8.000    54.166 10/15/2021
Neiman Marcus
  Group Ltd LLC              NMG      8.000    53.647 10/15/2021
Oldapco Inc                  APPPAP   9.000     3.095   6/1/2020
Pernix Therapeutics
  Holdings Inc               PTX      4.250     0.343   4/1/2021
Pernix Therapeutics
  Holdings Inc               PTX      4.250     0.343   4/1/2021
Powerwave Technologies Inc   PWAV     1.875     0.155 11/15/2024
Renco Metals Inc             RENCO   11.500    24.717   7/1/2003
Rolta LLC                    RLTAIN  10.750    10.339  5/16/2018
Sable Permian Resources
  Land LLC / AEPB
  Finance Corp               AMEPER   7.125    39.312  11/1/2020
Sable Permian Resources
  Land LLC / AEPB
  Finance Corp               AMEPER   7.375    36.250  11/1/2021
Sable Permian Resources
  Land LLC / AEPB
  Finance Corp               AMEPER   9.233    38.000   8/1/2019
Sable Permian Resources
  Land LLC / AEPB
  Finance Corp               AMEPER   7.125    38.021  11/1/2020
Sable Permian Resources
  Land LLC / AEPB
  Finance Corp               AMEPER   7.375    38.320  11/1/2021
Sable Permian Resources
  Land LLC / AEPB
  Finance Corp               AMEPER   9.233    38.375   8/1/2019
Sanchez Energy Corp          SNEC     6.125    13.956  1/15/2023
Sanchez Energy Corp          SNEC     7.750    14.267  6/15/2021
SandRidge Energy Inc         SD       7.500     0.924  2/15/2023
Sears Roebuck
  Acceptance Corp            SHLD     7.500     3.240 10/15/2027
Sears Roebuck
  Acceptance Corp            SHLD     6.750     3.340  1/15/2028
Sears Roebuck
  Acceptance Corp            SHLD     7.000     3.188   6/1/2032
Sears Roebuck
  Acceptance Corp            SHLD     6.500     3.000  12/1/2028
Sempra Texas Holdings Corp   TXU      5.550    13.500 11/15/2014
Sungard Availability
  Services Capital Inc       SUNASC   8.750     4.702   4/1/2022
Sungard Availability
  Services Capital Inc       SUNASC   8.750     4.550   4/1/2022
Synergy Pharmaceuticals Inc  SGYP     7.500    53.250  11/1/2019
TerraVia Holdings Inc        TVIA     6.000     4.644   2/1/2018
Toys R Us - Delaware Inc     TOY      8.750     3.000   9/1/2021
Toys R Us Inc                TOY      7.375     3.000 10/15/2018
Transworld Systems Inc       TSIACQ   9.500    26.000  8/15/2021
Transworld Systems Inc       TSIACQ   9.500    26.000  8/15/2021
UCI International LLC        UCII     8.625     4.780  2/15/2019
Ultra Resources Inc          UPL      7.125    22.000  4/15/2025
Ultra Resources Inc          UPL      6.875    33.356  4/15/2022
Ultra Resources Inc          UPL      6.875    33.250  4/15/2022
Ultra Resources Inc          UPL      7.125    27.028  4/15/2025
Vanguard Natural
  Resources Inc              VNR      9.000     4.578  2/15/2024
Vanguard Natural
  Resources Inc              VNR      9.000     4.578  2/15/2024
Walter Energy Inc            WLTG     8.500     0.834  4/15/2021
Windstream Services LLC /
  Windstream Finance Corp    WIN      6.375    30.000   8/1/2023
Windstream Services LLC /
  Windstream Finance Corp    WIN      8.750    30.000 12/15/2024
Windstream Services LLC /
  Windstream Finance Corp    WIN      6.375    29.500   8/1/2023
Windstream Services LLC /
  Windstream Finance Corp    WIN      8.750    25.031 12/15/2024
Windstream Services LLC /
  Windstream Finance Corp    WIN      7.750    21.028 10/15/2020
Windstream Services LLC /
  Windstream Finance Corp    WIN      7.750    25.680  10/1/2021
iHeartCommunications Inc     IHRT     9.000    73.050 12/15/2019
iHeartCommunications Inc     IHRT    14.000    13.351   2/1/2021
iHeartCommunications Inc     IHRT     7.250    10.250 10/15/2027
iHeartCommunications Inc     IHRT     6.875     9.192  6/15/2018
iHeartCommunications Inc     IHRT    14.000    13.351   2/1/2021
iHeartCommunications Inc     IHRT     9.000    73.050 12/15/2019
iHeartCommunications Inc     IHRT     9.000    73.050 12/15/2019
iHeartCommunications Inc     IHRT     9.000    73.050 12/15/2019
iHeartCommunications Inc     IHRT    14.000    13.351   2/1/2021
rue21 inc                    RUE      9.000     1.470 10/15/2021



                            *********

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