/raid1/www/Hosts/bankrupt/TCR_Public/191121.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, November 21, 2019, Vol. 23, No. 324

                            Headlines

215 HEMPSTEAD: Seaway $600K Claim to Be Paid in Full by 2020
24 NORTH AVENUE EAST: Voluntary Chapter 11 Case Summary
27 PUTNAM AVE LP: Seeks to Hire Backenroth Frankel as Counsel
41-23 HAIGHT STREET: Trustee Wants Add'l $1.22M for Construction
9469 BEVERLY CREST: Gets OK on $3.5M DIP Loan, Construction Project

ADVANCED GREEN: Committee Seeks to Hire Engelman Berger as Counsel
ADVANCED TEXTILES: Unsecureds Paid Prorata From AT’s Excess Cash Fl
ADVISOR GROUP: Moody's Reviews B2 CFR for Downgrade
AERKOMM INC: Reports $2.81 Million Net Loss for Third Quarter
AGERA ENERGY: Has Final OK on Cash Use, Leave on Supply Facility

ALLEGHENY TECHNOLOGIES: Moody's Rates Unsec. Notes Due 2027 'B2'
ALLEGHENY TECHNOLOGIES: S&P Rates $350MM Sr. Unsec. Notes 'B'
AMERICAN AXLE: Egan-Jones Lowers Senior Unsecured Ratings to B+
AMERICAN WORKERS INSURANCE: Gets Approval to Hire CR3 Partners
APEX ENERGY: U.S. Trustee Forms 3-Member Committee

ARROW ELECTRONICS: Egan-Jones Lowers Sr. Unsecured Ratings to BB+
BEAVER'S DAIRY: May Use FCE Cash Collateral Through Nov. 25
BES LLC: Taps Cobb Law as Special Counsel
BODY BY PASTRAMI: Seeks Authorization to Use Cash Collateral
BRIGHTER CHOICE: Fitch Assigns 'BB' IDR, Outlook Positive

BUANNO TRANSPORT: Unsecureds to Recover 5% in 5-Year Plan
BUILTRITE BUILDERS: Unsecureds Get 65% of Net Profits for 5 Years
CANTRELL DRUG: Seeks to Hire Resurgence Financial Services
CARTONI GROUP: Plan and Disclosure Statement Due Jan. 10, 2020
CASELLA WASTE: Moody's Rates $25MM Solid Waste Disposal Bonds 'B2'

CATHERINE COURTS: Seeks to Hire Goldstein & McClintock as Counsel
CATSKILL DISTILLING: Case Summary & 20 Largest Unsecured Creditors
CHESAPEAKE ENERGY: Moody's Lowers Corp. Family Rating to Caa1
COBRA PIPELINE: U.S. Trustee Unable to Appoint Committee
COWBOY PUMPING: Seeks to Hire Fellers Snider as Legal Counsel

CRYSTAL TRANSPORTATION: Unsecureds to Recover 12% in Plan
DEAN FOODS: Egan-Jones Lowers Senior Unsecured Ratings to D
DISCOVERY INC: Egan-Jones Hikes Sr. Unsec. Ratings to BB+
E MECHANIC: Seeks to Hire Buddy D. Ford as Legal Counsel
EARLY BIRD FOODS: Klestadt Winters Approved as Bankr. Counsel

EARLY BIRD FOODS: Prager Metis CPAs Approved as Accountants
ED3 CONSULTANTS: Seeks to Hire Knox McLaughlin as Legal Counsel
ELEVATED ANALYTICS: Dec. 9 Plan & Disclosures Hearing Set
ELGOT SALES: Seeks to Hire Sussman Law Firm as Legal Counsel
ENDICOTT MEATS: Seeks to Hire Reich Reich as Legal Counsel

ENDICOTT REALTY: Seeks to Hire Reich Reich as Legal Counsel
EPIC COMPANIES: Gets Court Okay to Expand Keen-Summit Employment
EXELA INTERMEDIATE: Moody's Lowers CFR to Caa3, Outlook Negative
FAME ASSISTANCE: Judges Permits Use of Cash Collateral
FIREBALL REALTY: Allowed Access to BHFCC Account Until Jan. 31

FIREBALL REALTY: May Use Primary Cash Collateral Through Jan. 31
FIREBALL REALTY: May Use Provident Cash Collateral Until Jan. 31
FIRED UP: Unsecured Creditors to Be Paid by 2028
FIRSTCASH INC: Moody's Hikes CFR to Ba1 & Alters Outlook to Stable
FIZZ & BUBBLE: U.S. Trustee Forms 6-Member Committee

FLAMINGO/TENAYA: James Kay, Lucky's Have Full-Payment Plan
FOX VALLEY PRO: Court Grants $200K DIP Loan from Windward Wealth
FOX VALLEY PRO: Court OKs $200K DIP Loan from Two Willows
FOXHOLE BAR: U.S. Trustee Unable to Appoint Committee
FRICTIONLESS WORLD: Taps Three Twenty-One as Investment Banker

GLOBAL TELLINK: Moody's Affirms B3 CFR, Outlook Stable
GRAMERCY GROUP: BoA Secured Claim Treatment Resolved
H. TRENT ELSON : Unsecureds to Recover 1% in 5 Years
HAMLETT ENTERPRISES: ISTC Objects to Disclosure Statement
HARLEM CROSSINGS: Seeks Authority to Use Cash Collateral

HARRAH WHITES: Taps Hansen Hunter as Financial Advisor
HENRY ANESTHESIA: Seeks Court Approval to Hire Corporate Counsel
HIGHLAND SALONS: Court Approves Disclosure Statement
HOACTZIN PARTNERS: Seeks to Hire Quilling Selander as Legal Counsel
IFRESH INC: Incurs $887K Net Loss in Second Quarter

INSYS THERAPEUTICS: Lead Plaintiff Has Issues With Plan Releases
INSYS THERAPEUTICS: US Says Plan Unfairly Treats Some Unsecureds
INSYS THERAPEUTICS: US Trustee Says Plan Disclosures Inadequate
INTEGER HOLDINGS: S&P Affirms 'B+' Rating on Senior Secured Debt
INTERIM HEALTHCARE: Voluntary Chapter 11 Case Summary

INVERNESS VILLAGE: Wants to Continue Using UMB Cash Collateral
IPS WORLDWIDE: Disclosure Statement Hearing on Dec. 4
ITHRIVE HEALTH: Case Summary & 20 Largest Unsecured Creditors
ITS INVESTING: U.S. Trustee Unable to Appoint Committee
JUNO USA: Case Summary & 20 Largest Unsecured Creditors

KEY ENERGY: Egan-Jones Lowers Senior Unsecured Ratings to CC
KOI DESIGN: Unsecured Creditors to Recover 42% in Plan
L&N TWINS: Puka Capital Entitled to Recover Under Promissory Note
LASELL UNIVERSITY: S&P Cuts ICR, Revenue Bond Rating to 'BB+'
LEMKCO FLORIDA: Secured Creditor Files Liquidating Plan

MANOMAY LLC: Seeks to Hire Robert O Lampl as Legal Counsel
MARINE INDUSTRIES: Plan to be Funded by Vessel Sale Proceeds
MARIZYME INC: Reports $509K Net Loss for Third Quarter
MATTAMY GROUP: S&P Alters Outlook to Positive, Affirms 'BB' ICR
MATTEL INC: S&P Rates New $600MM Sr. Unsec. Notes 'BB-'

MCCLATCHY CO: Bankruptcy Seen as Pension Payment Looms
MCCLATCHY COMPANY: Egan-Jones Lowers Sr. Unsecured Ratings to D
MCDERMOTT INT'L: Egan-Jones Lowers Senior Unsecured Ratings to CCC
MCL NURSING: Seeks to Hire Hansen Hunter as Financial Advisor
MCL NURSING: Seeks to Hire Theodore N. Stapleton as Legal Counsel

MEDIQUIP INC: Seeks to Hire Berger Fischoff as Legal Counsel
MIDWEST-ST. LOUIS: Hires Armstrong Teasdale as Special Counsel
NATIONAL OILWELL: Egan-Jones Lowers Senior Unsecured Ratings to BB
NJ REALTY: Trustee Seeks to Hire Lane and Nach as Special Counsel
NRG ENERGY: Egan-Jones Hikes Senior Unsecured Ratings to BB-

OAK LAKE LLC: Seeks to Hire Hansen Hunter as Financial Advisor
P.P.S. TRUCKING: Seeks to Hire Fellers Snider as Legal Counsel
PALOMAR HEALTH: Moody's Alters Outlook on $597MM Bonds to Positive
PHD GROUP: S&P Affirms 'B-' Issuer Credit Rating; Outlook Stable
PITNEY BOWES: Moody's Affirms Ba2 CFR, Outlook Stable

PITNEY BOWES: S&P Cuts Unsec. Debt Rating to 'BB' on Subordination
PORTILLO'S HOLDINGS: Moody's Rates $432MM First Lien Loan 'B2'
PRINCE ORGANIZATION: Oyo Hotels Deal to Fund Plan
PROAMPAC PG: S&P Lowers ICR to 'B-'; Outlook Stable
PUSHMATAHA COUNTY: Has Court OK on IPFS Insurance Financing

PYXUS INT'L: Egan-Jones Lowers Sr. Unsecured Ratings to CC
QUITMAN COUNTY: Unsecureds to Get Net Operating Income for 3 Years
QUORUM HEALTH: Moody's Lowers CFR to Caa2, Outlook Negative
RELIABLE ASSOCIATES: Unsecureds to Recover 50% in 5 Years
RIOT BLOCKCHAIN: Incurs $1.83 Million Net Loss in Third Quarter

ROVIG MINERALS: Court Approves Continued Employment of Contractors
ROVIG MINERALS: U.S. Trustee Forms 3-Member Committee
SALEM MEDIA: S&P Alters Outlook to Negative, Affirms 'B-' ICR
SARAH AIR: Trustee Taps Jetstream Aviation as Special Counsel
SERVICE PAINTING: Unsecureds to Recover 40% in 5 Years

SHAPPHIRE RESOURCES: Disclosure Hearing Reset to January 15, 2020
SINCLAIR TELEVISION: Moody's Rates $500MM Sr. Unsec. Notes 'B1'
SINCLAIR TELEVISION: S&P Rates New $500MM Sr. Unsecured Notes 'B'
SIW HOLDING: Unsecureds to Get 1%-8% in Committee-Backed Plan
SOUTH TEXAS INNOVATIONS: Examiner Seeks to Hire McCloskey Roberson

SPRINT CORP: Egan-Jones Lowers Sr. Unsecured Ratings to B+
SPYBAR MANAGEMENT: Non-Insider Creditors to Recover 100%
STAR CHAIN: Seeks Court OK to Tap Ordinary Course Professionals
STAR CHAIN: Seeks to Hire GGG Partners as Financial Advisor
STERICYCLE INC: Egan-Jones Lowers Senior Unsecured Ratings to BB-

SUNSET VIEW: Case Summary & 2 Unsecured Creditors
SWEET WOLVERINE: Taps Lincoln Homes as Real Estate Broker
SWEET WOLVERINE: U.S. Trustee Unable to Appoint Committee
TARRANT COUNTY: Stayton Prepackaged Plan Seeks Bond Refinancing
TECH DATA: Egan-Jones Lowers Senior Unsecured Ratings to BB+

TERADATA CORP: Egan-Jones Lowers Sr. Unsec. Ratings to BB
TIVO SOLUTIONS: Egan-Jones Lowers Senior Unsecured Ratings to B-
TOWN SPORTS: S&P Lowers ICR to CCC on Incremental Refinancing Risk
VALERITAS HOLDINGS: Incurs $13.2 Million Net Loss in 3rd Quarter
VALERITAS HOLDINGS: Regains Compliance with Nasdaq Listing Rule

VETERINARY CARE: Seeks Access to Cash Collateral to Fund Operation
VICI PROPERTIES: S&P Affirms 'BB' ICR; Outlook Stable
WALKER COUNTY HOSPITAL: Taps Epiq as Claims & Noticing Agent
WESTBANK CONSTRUCTION: Seeks Court Approval to Hire Special Counsel
WILWOOD ANTIQUE: Seeks Donner & Company as Accountant

WOODLAWN COMMUNITY: Cash Collateral Use Continued Until Dec. 12
YRC WORLDWIDE: Egan-Jones Lowers Senior Unsecured Ratings to CCC+
[^] Recent Small-Dollar & Individual Chapter 11 Filings

                            *********

215 HEMPSTEAD: Seaway $600K Claim to Be Paid in Full by 2020
-------------------------------------------------------------
Debtor 215 Hempstead Realty Corp. filed with the U.S. Bankruptcy
Court for the Eastern District of New York filed a Fifth Amended
Disclosure Statement that fine-tunes the prior iteration of its
explanatory disclosure statement.

The Fifth Amended Disclosure Statement provides that Class V
consists of the postpetition  secured claim of Seaway Capital Corp.
The amount of Seaway Capital Corp.'s secured claim  totals
$600,000, less payments made on account.  The Debtor, by virtue of
an order of the Court dated April 11, 2019, was approved to obtain
a postpetition DIP exit-financing loan.  Said loan was funded to
pay Debtor's creditors in full on or before confirmation of
Debtor's  Plan.

Seaway Capital Corp. will be paid pursuant to the loan documents in
the amount of $6,000 per  month commencing June 1, 2019 through and
including May 1, 2020 with a balloon payment due and owing
thereafter.  The Class V creditor is impaired and entitled to vote
on the Plan.  Seaway Capital Corp. submitted a ballot in favor of
the Debtor's Plan.

A full-text copy of the Fifth Amended Disclosure Statement dated
Nov. 5, 2019, is available at https://tinyurl.com/yyb5j8x9 from
PacerMonitor.com at no charge.

The Debtor is represented by:

        THE LAW OFFICES OF KENNETH A. REYNOLDS, ESQ., P.C.
        105 Maxess Road, Suite 124
        Melville, New York 11747
        Tel: (631) 994-2220

                   About 215 Hempstead Realty

215 Hempstead Realty Corp. is a corporation formed in 2013 and is
in the business of holding and managing real property.  It operates
its business from a primary business location of 215 Hempstead
Avenue, West Hempstead, New York.

215 Hempstead Realty previously sought protection under Chapter 11
of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 17-70755) on Feb.
10, 2017.

215 Hempstead Realty Corp. filed a Chapter 11 petition (Bankr.
E.D.N.Y. Case No. 17-74474) on July 24, 2017.  The petition was
signed by Nadide Cakici, its president.  At the time of the filing,
the Debtor was estimated to have assets of less than $1 million and
liabilities of less than $500,000.  The Debtor hired McBreen &
Kopko as its bankruptcy counsel, and George E. Milhim, CPA, as its
accountant.


24 NORTH AVENUE EAST: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor: 24 North Avenue East, LLC
        24 North Avenue East
        Cranford, NJ 07016

Business Description: 24 North Avenue East, LLC is a Single Asset
                      Real Estate debtor (as defined in 11 U.S.C.
                      Section 101(51B)).  The Company previously
                      sought bankruptcy protection on Oct. 8,
                      2015 (Bankr. D.N.J. Case No. 15-29039) and
                      Oct. 15, 2019 (Bankr. D. N.J. Case No. 19-
                      29525).

Chapter 11 Petition Date: November 19, 2019

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

Case No.: 19-31784

Judge: Hon. Stacey L. Meisel

Debtor's Counsel: Anthony Sodono, III, Esq.
                  MCMANIMON, SCOTLAND & BAUMANN, LLC
                  75 Livingston Avenue
                  Roseland, NJ 07068
                  Tel: 973-622-1800
                  Fax: 973-681-7233
                  E-mail: asodono@msbnj.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Hector Alvarez, managing member.

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/njb19-31784.pdf


27 PUTNAM AVE LP: Seeks to Hire Backenroth Frankel as Counsel
-------------------------------------------------------------
27 Putnam Ave LP and its debtor-affiliates seek authority from the
U.S. Bankruptcy Court for the Southern District of New York to hire
Backenroth Frankel & Krinsky, LLP as their legal counsel.

The firm will provide these services in connection with the
Debtors' Chapter 11 cases:  

     a. advise the Debtors of their powers and duties in the
continued operation of their business and management of their
property;

     b. prepare applications, reports and other legal documents;

     c. assist in the formulation and negotiation of a plan of
reorganization; and

     d. perform other legal services, including the institution of
actions against third parties, objections to claims, and the
defense of actions which may be brought by third parties against
the Debtors.

Each Debtor paid Backenroth Frankel $5,000 as post-petition
retainer.

Mark Frankel, Esq., a member of Backenroth Frankel, attests that
the firm and its attorneys do not have interests adverse to the
Debtors and their creditors.

The firm can be reached through:

     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
     Email: mfrankel@bfklaw.com

                About 27 Putnam Ave LP

27 Putnam Ave LP and three affiliates concurrently filed voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code
(Bankr. S.D.N.Y. Lead Case No. 19-13412) on Oct. 25, 2019. The
petitions were signed by David Schieble, Clinton Hill GP LLC,
authorized signatory.

At the time of the filing, each Debtor disclosed assets of between
$10 million and $50 million and liabilities of the same range.

The case is assigned to Judge Mary Kay Vyskocil.  Mark A. Frankel,
Esq. at Backenroth Frankel & Krinsky, LLP, is the Debtor's legal
counsel.


41-23 HAIGHT STREET: Trustee Wants Add'l $1.22M for Construction
----------------------------------------------------------------
Gregory Messer, Chapter 11 Trustee for 41-23 Haight Street Realty
Inc., seeks Court authority, on behalf of the Debtor's estate, to
obtain $1.22M in additional financing from 41-31 Haight Street
Lender LLC.  The funds will be needed to purchase 61 irrevocable
421-a Negotiable Certificates to gain eligibility for tax benefits
relating to the estate's property under construction.

The material terms of the additional financing are:

* Borrower:  Gregory Messer, solely in his capacity as Chapter 11
Trustee
              of the estate of 41-23 Haight Street Realty Inc.

* Lender:    41- 31 Haight Street Lender LLC

* Loan Amount: up to $1,220,000 in aggregate principal amount

* Interest Rate:  
   12% per annum. From and after the occurrence of an Event of
Default, interest will automatically accrue on the outstanding
principal sum at the lesser of: (i) 24% per annum; or (ii) the
maximum rate allowed by law

* Maturity:  
   The earlier of (i) May 30, 2020; (ii) the date the Real Property
is sold, transferred or conveyed in any manner, in whole or in
part; (iii) the date a Reorganization Plan or a Liquidation Plan is
confirmed by a Court order, and the closing on the sale of the
Property, in whole or in part, occurs; (iv) the conversion of the
Debtor’s Chapter 11 case to a case under Chapter 7.  

* Fees:
   A fully earned, nonrefundable fee of 2% of the amount of the
requested Advance, to be added to the principal amount of the Gap
Note and paid on the Maturity Date

* Borrowing Conditions:  
   Maker will use the Advances only to pay for: (a) capital
improvements to the Property; and (b) insurance, utilities and
maintenance of the Property, in both cases approved by the Holder
  
* Carve-Out:  
   The Lender's liens, claims and security interests in the
Collateral will be subject to (a) Statutory fees and interest
payable to the U.S. Trustee; (b) outstanding real estate taxes; (c)
in the event of the closing of a sale of the Real Property (in
whole), pursuant to the terms of the Lender, the commissions (but
not expenses) of any retained real estate broker(s), subject to the
allowed percentages; (d) a Professional Fee Carve Out not to exceed
$500,000 (excluding any real estate broker(s) provided that:
   -- if the Debtor's case is converted to one under Chapter 7 of
the Bankruptcy Code, the sum of $5,000 will be reserved from the
Professional Fee Carve Out for any post-conversion expenses of the
Chapter 7 trustee;
   -- if the entire Real Property is sold prior to April 30, 2020,
the sum of $100,000, which sum will be used by the Trustee for
distributions on account of allowed claims, after payment of
administrative claims

* Grant of Priority or Lien on Property of the Estate:
   The mortgages, security interests and liens granted to the
Lender under the Loan Documents and the Supplemental Final
Financing Order (i) will continue to be first and senior in
priority to all other interests, security interests, mortgages,
liens and encumbrances of every kind, nature and description, (ii)
will not at any time be made subject to or made pari passu with,
any other lien, security interest or claim against any property of
the Trustee or the Debtor's Estate.
   Post-Petition Obligations will have super-priority in payment
over all other unsecured obligations hereafter incurred by the
Trustee, or any successor trustee, and will at all times be senior
to the rights of the Trustee, any successor trustee, or any
creditor or other party in interest.

* Adequate Protection to Pre-petition Obligations:    
   Lender will be granted: (a) replacement liens on all
Pre-Petition Collateral for any diminution in the value of its
pre-petition liens and security interests in all Pre-Petition
Collateral, and a (b) priority administrative expense claim
pursuant to Section 507(b) of the Bankruptcy Code in respect of all
Collateral Diminution having priority over all other unsecured
obligations, subject to the Lender's Super-priority Claim and the
Carve-Out Expenses.

Hearing on the Motion is set for Dec. 2, 2019 at 2 p.m.  Objections
are due by Nov. 25, 2019 at 5 p.m.  

A copy of the Motion is available at https://is.gd/IAAAem  from
PacerMonitor.com free of charge.  


                                    About 41-23 Haight Street
Realty Inc.

41-23 Haight Street Realty, Inc. is a Single Asset Real Estate (as
defined in 11 U.S.C. Section 101(51B).

On June 4, 2019, an involuntary petition pursuant to Chapter 11 of
Title 11 of the United States Code in the United States Bankruptcy
Court for the Eastern District of New York was filed against 41-23
Haight Street Realty, Inc. by petitioning creditors, Wen Mei Wang,
Xian Kang Zhang, and Yu Qing Wang.

The case is assigned to Judge Nancy Hershey Lord.  Victor Tsai,
Esq., is the Debtor's legal counsel.

On August 12, 2019, the Court appointed of Gregory Messer as
Chapter 11 trustee for the Debtor's estate.  The trustee is
represented by LaMonica Herbst & Maniscalco, LLP.




9469 BEVERLY CREST: Gets OK on $3.5M DIP Loan, Construction Project
-------------------------------------------------------------------
9469 Beverly Crest LLC asked Judge Neil W. Bason for authority to
obtain credit amounting to $3,500,000 from Residential First
Capital, at 7.99% per annum, which matures on the anniversary of
the funding date.  

The Loan Agreement provided for (i) prepayment penalty equal to
three-months' interest (if the loan is paid off within three months
from loan execution date), (ii) Lender loan fees of $43,750; broker
fee of $52,500 and $1,035 processing fee, as well as titling and
escrow fees.  The Loan Agreement also provided for the grant of a
senior lien to the Lender on the Debtor's real property, subject
only to real property tax liens.  

Contained in the same motion, the Debtor also sought to enter into
a Construction Contract with LA Hillside Homes, Inc., pursuant to
which LAHH will complete the construction of a luxury residence
already under construction on the Property for a contract price of
$1,396,680.14 subject to adjustments for necessary changes in work,
(2) pay debts incurred by LAHH in connection with work previously
performed and material supplied by LAHH's employees and third
parties to the construction project, and (3) incur and pay debts in
the ordinary course of the Debtor's business.  A copy of the Motion
is available at https://is.gd/OYxNwj  from PacerMonitor.com free of
charge.

Secured Creditor to the Debtor, NVSI, Inc., in an opposition filed
in Court, complained that its position as current first trust deed
holder on the Debtor's property is not adequately protected.  NSVI
also complained that the adequate protection payments proposed by
the Debtor are made from the superpriority funds the Debtor
borrowed.   A copy of the Opposition is available at
https://is.gd/VxtH7I  from PacerMonitor.com at no charge.

The Court, however, overruled NSVI's opposition, ruling to approve
the motion based on the Debtor's reply, a copy of which is
available at https://is.gd/qAyiUE from PacerMonitor.com free of
charge.

The Court ruled that the Loan Agreement and/or the promissory note
(with Lender Residential First Capital) is modified to expressly
provide that:

   (a) the Lender will hold in reserve an amount equal to 12 months
of interest as an interest reserve and that the Lender will use the
Interest Reserve to pay the monthly interest-only payments due to
Lender for the first twelve full months following the funding
date.

   (b) if the loan is paid off early, the funds remaining in the
Interest Reserve will be credited back to the Debtor.  However, in
the event that NVSI pays off the loan, it will be entitled to the
funds remaining in the Interest Reserve.  In case of a dispute, if
the Debtor's bankruptcy case is still open, the Debtor or NVSI will
file a motion or commence a proceeding to resolve the dispute.  If
no such motion is filed within 30 days after NVSI informs the
Lender that a dispute exists, the Lender may file an interpleader
and seek reimbursement of its fees and costs from the res in
accordance with applicable law.

   (c) the Debtor will have the right to request one six-month
extension of the due date, to be requested by the Debtor in writing
no later than 30 days before the due date.

The Court further ruled that the Debtor may:

   * perform all of its obligations under the Construction Contract
with LA Hillside Homes, Inc., including payment of the modified
"Contract Price" of $1,505,084, subject to adjustments for changes
in the work as may be needed;

   * use the Cash Collateral to pay costs of administration,
including professionals' fees and costs allowed by the Court;

   * pay certain vendors from the loan proceeds from the Lender for
costs of construction projects, as well for unpaid taxes to taxing
authorities;

   * incur and pay debts in the ordinary course of business,
including utilities, insurance premiums, real property taxes, and
U.S. Trustee fees.

A copy of the Order is available at https://is.gd/8fFD4z from
PacerMonitor.com free of charge.

                    About 9469 Beverly Crest LLC

9469 Beverly Crest LLC classifies its business as Single Asset Real
Estate (as defined in 11 U.S.C. Section 101(51B)).  9469 Beverly
Crest LLC filed a Chapter 11 petition (Bankr. C.D. Cal. Case No.
19-20000) on Aug. 26, 2019, in Los Angeles, California.  In the
petition signed by Martin Livingston, managing member, the Debtor
was estimated with assets at $10 million to $50 million, and
liabilities at $1 million to $10 million.  Judge Neil W. Bason
oversees the case.  DANNING, GILL, DIAMOND & KOLLITZ, LLP, is the
Debtor's counsel.






ADVANCED GREEN: Committee Seeks to Hire Engelman Berger as Counsel
------------------------------------------------------------------
The official committee of unsecured creditors of Advanced Green
Innovations, LLC and its affiliates seeks authority from the U.S.
Bankruptcy Court for the District of Arizona to retain Engelman
Berger, P.C. as its legal counsel.

The firm will provide these services to the committee in connection
with the Debtors' Chapter 11 cases:  

     a. advise the committee of its rights, powers and obligations
on behalf of all unsecured creditors of the Debtors' bankruptcy
estates;

     b. investigate and analyze assets of the Debtors which may be
available for the benefit of unsecured creditors;

     c. advise the committee regarding matters of bankruptcy law;

     d. represent the committee in any proceedings or hearings in
the bankruptcy court related to debtor-in-possession financing and
other issues involving the rights and remedies available for the
benefit of unsecured creditors; and

     e. assist the committee in the negotiation and analysis of any
plan of reorganization proposed or filed by the Debtors, the
committee, or any other party.

Engelman's hourly rates are:

     Steven N. Berger      $600
     Patrick A. Clisham    $450
     Partners              $360 - $600
     Associates            $220 - $350
     Paralegals            $195

Steven Berger, Esq., at Engelman Berger, attests that the firm is a
"disinterested person" within the meaning of Section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

     Steven N. Berger, Esq.
     Engelman Berger, P.C.
     Patrick A. Clisham
     2800 North Central Avenue, Suite 1200
     Phoenix, AZ 85004
     Phone: +1 602-271-9090

            About Advanced Green

Advanced Green Innovations LLC and its subsidiaries are clean
energy companies developing and commercializing an array of green
technologies.

Advanced Green Innovations, LLC, ZHRO Power, LLC, and ZHRO
Solutions, LLC sought Chapter 11 protection (Bankr. D. Ariz. Case
No. 19-11766, 19-11768, and 19-11771) on Sept. 16, 2019.

In the petitions signed by Terry Kennon, president, Advanced Green
and ZHRO Solutions were each estimated to have up to $50,000 in
assets and $1 million to $10 million in liabilities. ZHRO Power was
estimated to have up to $50,000 in assets and $10 million to $50
million in liabilities.

The Debtors tapped Michael W. Carmel, Ltd. as their bankruptcy
counsel; and Jaburg & Wilk, P.C. as their special counsel.

CH4 Power, LLC, the DIP Lender, and the ad hoc committee of
creditors are represented by Stinson LLP.

The Office of the U.S. Trustee appointed creditors to serve on the
official committee of unsecured creditors on Oct. 28, 2019.


ADVANCED TEXTILES: Unsecureds Paid Prorata From AT’s Excess Cash Fl
---------------------------------------------------------------------
Advanced Textiles, LLC, Paul Honnen and Melissa Honnen filed Joint
Plan of Reorganization and a Disclosure Statement.

AT' Plan will be funded by its operations and excess cash flow. The
Reorganized Debtors shall act as the Disbursing Agent under the
Plan. The Honnen's Plan will be funded by the Honnen's
post-petition earnings and excess cash flow.

Under the Plan, claims against, and interests in, AT will be
treated as follows:

   * Class 1-C: FC. IMPAIRED. Amount of claim $60,116.04. The FC
Allowed Secured Claim will be repaid in equal monthly payments in
the amount of $142 to begin the first of the month following the
Effective Date.

   * Class 1-D: Navitas. IMPAIRED. Amount of claim $17,738.17. The
Navitas Allowed Secured Claim shall be repaid in equal monthly
payments in the amount of $186.00 to begin the first day of the
first month following the Effective Date.

   * Class 1-E: Swift. IMPAIRED. Amount of claim $71,215.20.
Swift's claim will be treated in entirety with the general
unsecured non-priority class of claims (Class 1-G).

   * Class 1-F: Marlin. IMPAIRED. Amount of claim $13,331.67. The
Marlin Allowed
Secured Claim shall accrue interest at an annual rate of 4.5
percent and will be repaid in 68 equal payments of $150 with the
first payment being due on the first day of the first month
following the Effective Date.

   * Class 1-G: General Unsecured Claims of AT. IMPAIRED. Class 1-G
Creditors will be paid a pro rata share from AT's Excess Cash Flow,
on a semi-annual basis, after all senior Allowed Claims have been
paid in accordance with the terms of the Plan, until the Allowed
Unsecured Claim have been paid in total the value of AT's
liquidation equity (a total maximum of $5,000) as calculated in
this Disclosure Statement.

   * Class 1-H: Allowed Interest of AT. IMPAIRED. Interest Holders
will contribute to AT the sum of $5,000.  Interest Holders shall
receive no distribution on account of their allowed interests.

Claims against the Honnens will be treated as follows:

   * Class 2-C - Toyota. IMPAIRED. Amount of claim $12,203.52. The
Toyota Allowed Secured Claim shall be repaid in equal monthly
payments in the amount of $161.00 to begin on the first day of the
first month following the Effective Date.

   * Class 2-D - Chase. IMPAIRED. Amount of claim $23,481.00. The
Chase Allowed Secured Claim shall be repaid in equal monthly
payments in the amount of $325.00 to begin the first of the month
following the Effective Date.

   * Class 2-E - Ford. IMPAIRED. Amount of claim $13,000.00. The
Ford Secured Claim shall be repaid in equal monthly payments in the
amount of $221.00 to begin the first day of the first month after
the entry of the Order approving the Ford Stipulation.

   * Class 2-F - Allowed Unsecured Claims. IMPAIRED. Class 2-F
Creditors shall be paid a pro-rata share from the Debtors' Excess
Cash Flow, on a quarterly basis, in an amount sufficient to fund
the value of the Debtors' Liquidation Equity (as calculated in the
Debtors' Disclosure Statement), after all senior Allowed Claims
have been paid in accordance with the terms of the Plan.

   * Class 2-G - Allowed Interest of the Honnens. IMPAIRED. The
Debtors shall retain their interest in all estate property.  In
consideration for retaining their interest, the Honnens shall
contribute $5,000 to the bankruptcy estate from a personal loan
from Andrew Perlmutter.

A full-text copy of the First Joint Disclosure Statement dated Nov.
6, 2019, is available at https://tinyurl.com/vyqdqd8 from
PacerMonitor.com at no charge.

Attorneys for the Debtors:

     MARTIN J. MCCUE
     PATRICK F. KEERY
     KEERY MCCUE, PLLC
     6803 EAST MAIN STREET, SUITE 1116
     SCOTTSDALE, AZ 85251
     TEL. (480) 478-0709
     FAX (480) 478-0787
     E-mail: MJM@KEERYMCCUE.COM
             PFK@KEERYMCCUE.COM

                        Advanced Textiles
    
Advanced Textiles, LLC, was formed on or about June 25, 2009, for
the purpose of manufacturing and manufacturing filtering materials
for windows, doors, fans and HVAC systems.  Advanced Textiles is
recognized throughout the air filtering industry as a cutting-edge
manufacturer, supplier and retailer of custom-made air filter
products.  Many of the products are sold online through an Amazon
account.  The company's only employee is Paul Honnen.  Advanced
Textiles has provided quality products to hundreds of customers for
many years.

Advanced Textiles sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Ariz. Case No. 19-08428) on July 9,
2019.  In the petition signed by its managing member, Paul Honnen,
Advanced Textiles was estimated to have assets of less than $50,000
and debts of less than $1 million.  

On July 9, 2019, Paul Honnen and Melissa Honnen commenced their own
Chapter 11 cases (Case No. 19-08429).

The cases are assigned to Judge Brenda K. Martin.  

Advanced Textiles and the Honnens tapped Keery McCue, PLLC, as
counsel.


ADVISOR GROUP: Moody's Reviews B2 CFR for Downgrade
---------------------------------------------------
Moody's Investors Service placed on review for downgrade Advisor
Group Holdings, Inc.'s B2 corporate family rating, B1 $1,225
million senior secured term loan and $225 million senior secured
revolving credit facility, and Caa1 $350 million senior unsecured
notes.

The review for downgrade follows Advisor Group's announcement that
it has agreed to acquire publicly-held Ladenburg Thalmann Financial
Services Inc. (Ladenburg Thalmann, unrated) for an enterprise value
of $1.3 billion (including common stock, preferred stock and
outstanding debt). Advisor Group said it expects to complete the
acquisition in the first half of 2020, subject to Ladenburg
Thalmann's shareholders' approval and regulatory approvals.

On Review for Downgrade:

Issuer: Advisor Group Holdings, Inc.

  Corporate Family Rating, Placed on Review for Downgrade,
  currently B2

  Senior Secured 1st Lien Term Loan B, Placed on Review for
  Downgrade, currently B1

  Senior Secured 1st Lien Term Loan A, Placed on Review for
  Downgrade, currently B1

  Senior Secured 1st Lien Revolving Credit Facility, Placed
  on Review for Downgrade, currently B1

  Senior Unsecured Regular Bond/Debenture, Placed on Review
  for Downgrade, currently Caa1

Outlook Actions:

Issuer: Advisor Group Holdings, Inc.

  Outlook, Changed To Rating Under Review From Stable

RATINGS RATIONALE

Moody's said the review for downgrade reflects the transformative
nature of the acquisition, the complexity of its integration and
the delay in the path for de-leveraging following Advisor Group's
most recent increase in debt levels in August 2019. Moody's also
said there is uncertainty over the retention levels for financial
advisors and client assets. Advisor Group has received financing
commitments through a $775 million senior bridge facility from a
syndicate of banks and $280 million in new equity contribution from
Reverence Capital (Advisor Group's financial sponsor). Moody's said
that Advisor Group plans to refinance the senior bridge facility
through the issuance of an equal amount of senior secured notes
upon closing of the transaction.

Moody's also said that the changing interest rate environment would
be a key consideration in the review for downgrade. With rising
short-term interest rate levels between December 2015 and June
2019, Advisor Group - similar to other independent broker-dealers
-- benefited through higher fees earned on uninvested client cash
balances in brokerage accounts. However, the three successive
25-basis-point cuts to the federal funds rate between July and
October 2019, have raised revenue pressures on Advisor Group.
Moody's said it expects the firm's 2020 leverage, as measured by
Moody's-adjusted debt/ EBITDA, to be in the 7.0 -- 7.5x range,
exclusive of the Ladenburg Thalmann acquisition and associated
funding, or any additional changes in levels of short-term interest
rates. Moody's said the firm's post acquisition leverage level
would depend on the funding structure and other considerations
which the rating agency would assess during the review period.

Moody's said its review for downgrade would consider Advisor
Group's plans for the acquisition and integration of Ladenburg
Thalmann and the path for de-leveraging in the twelve to eighteen
months following the close of the transaction. Moody's said that
the review would also assess the magnitude of the transaction's
credit benefits, including the increase in scale and footprint as
well as the potential for expense synergies. Moody's said that the
impact on existing instrument ratings would also depend on the
terms and collateral package of the new debt, and how Advisor
Group's debt stack is structured following the completion of the
deal.

Ladenburg Thalmann offers diversified financial services, including
independent advisory and retail brokerage through a network of
around 4,400 financial advisors and $90 billion in client assets
under management. The firm is publicly listed and has a market
capitalization of around $510 million, inclusive of a 25%
acquisition premium compared to the closing price prior to the
announcement. As of 30 September 2019, Ladenburg Thalmann's capital
structure includes around $320 million in senior unsecured notes,
which don't include any protection against a change of control and
will remain outstanding as debt securities of the surviving
corporation (with the earliest maturity being in 2027). Ladenburg
Thalmann also has about $435 million in preferred shares that
benefit from a change of control protection and would likely be
redeemed for cash prior to close of the transaction, otherwise the
holders of the preferred shares have the right to convert them into
cash.

In its assessment of the firm's corporate governance, Moody's
considers Advisor Group's majority-ownership by a financial
sponsor, with a minority position held by certain members of the
management team. Advisor Group's governance structure and financial
policy is representative of a financial sponsor portfolio company,
with potential for periodic increases in leverage and shareholder
distributions over time.

FACTORS THAT COULD LEAD TO AN UPGRADE

Moody's said that since the ratings are under review for downgrade,
there is currently no upward pressure on Advisor Group's ratings.
In the longer-term, Advisor Group's ratings could be upgraded
should strong evidence develop that the Ladenburg Thalmann
acquisition is being successfully integrated according to Advisor
Group's plan and the firm's debt leverage has improved towards the
4.0x debt-to-EBITDA level. A key consideration for a ratings'
upgrade under such circumstances would be assessing Advisor Group's
appetite for additional significant debt-funded transactions, said
Moody's.

FACTORS THAT COULD LEAD TO A DOWNGRADE

Advisor Group's corporate family rating could be downgraded should
Moody's conclude that the increase in debt leverage and integration
risk related to the planned acquisition outweigh the possible
credit benefits of combining the two firms. Changes to the ratings
of Advisor Group's existing debt instruments will depend on the
firm's post-acquisition capital structure, the terms of the
anticipated debt issuance, and the influence of Ladenburg
Thalmann's existing debt.

The principal methodology used in these ratings was Securities
Industry Service Providers published in June 2018.


AERKOMM INC: Reports $2.81 Million Net Loss for Third Quarter
-------------------------------------------------------------
Aerkomm Inc. filed with the Securities and Exchange Commission its
quarterly report on Form 10-Q reporting a net loss of $2.81 million
on $0 of total revenue for the three months ended Sept. 30, 2019,
compared to a net loss of $2.50 million on $1.74 million of total
revenue for the three months ended Sept. 30, 2018.

For the nine months ended Sept. 30, 2019, the Company reported a
net loss of $6.88 million on $1.60 million of total revenue
compared to a net loss of $6.09 million on $1.74 million of total
revenue for the same period last year.

As of Sept. 30, 2019, the Company had $51.28 million in total
assets, $3.92 million in total liabilities, and $47.35 million in
total stockholders' equity.

As of Sept. 30, 2019, the Company had cash and cash equivalents of
$2,808,023.  To date, the Company has financed its operations
primarily through cash proceeds from financing activities,
including through its ongoing public offering, short-term
borrowings and equity contributions by its stockholders.

Net cash used for operating activities was $8,035,353 for the nine
months ended Sept. 30, 2019, as compared to $7,247,420 for the nine
months ended Sept. 30, 2018.  In addition to the net loss of
$6,880,213, the increase in net cash used for operating activities
during the nine-month period ended Sept. 30, 2019 was mainly due to
increase in inventory and prepaid expenses of $1,485,350 and
$973,321, respectively, and decrease in accounts payable, other
payable - others and operating lease liability of $840,092,
$1,577,838 and $304,014, respectively, offset by the decrease in
accounts receivable of $1,095,061.  In addition to the net loss of
$6,087,387, the decrease in net cash used for operating activities
during the nine-month period ended Sept. 30, 2018 was mainly due to
increase in accounts receivable and prepaid expenses of $1,745,000
and $1,205,910, respectively, and decrease in other payable -
others of $1,253,797, offset by the increase in accounts payable of
$1,650,000.

Net cash used for investing activities for the nine months ended
Sept. 30, 2019 was $630,917 as compared to $34,091,169 for the nine
months ended Sept. 30, 2018.  The net cash used for investing
activities for the nine months ended Sept. 30, 2019 was mainly for
the purchase of property and equipment and the final payment toward
the purchase of the Land to build the Company's first satellite
ground station and data center.  The net cash used for investing
activities for the nine months ended Sept. 30, 2018 was mainly due
to the $35.2 million deposits paid toward the Land.

Net cash provided by financing activities for the nine months ended
Sept. 30, 2019 and 2018 was $10,861,453 and $42,215,066,
respectively.  Net cash provided by financing activities for the
nine months ended Sept. 30, 2019 were mainly attributable to net
proceeds from the issuance of common stock from ongoing public
offering and the borrowing of a long-term loan in the amounts of
$10,810,688 and $45,765, respectively.  Net cash provided by
financing activities for the nine months ended Sept. 30, 2018 were
mainly attributable to proceeds from the issuance of common stock
from public offering, issuance of stock warrants related to the
public offering and increase in subscribed capital in the amounts
of $41,262,899, $906,167 and $56,000, respectively, offset by the
repayment of short-term bank loan of $10,000.

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

                      https://is.gd/RydrJi

                          About Aerkomm

Headquartered in Nevada, USA, Aerkomm Inc. --
http://www.aerkomm.com/-- is a full-service development stage
provider of in-flight entertainment & connectivity (IFEC)
solutions, intended to provide airline passengers with a broadband
in-flight experience that encompasses a wide range of service
options.  Those options include Wi-Fi, cellular, movies, gaming,
live TV, and music.  The Company plans to offer these core
services, which it is currently still developing, through both
built-in in-flight entertainment systems, such as a seat-back
display, as well as on passengers' own personal devices.

Chen & Fan Accountancy Corporation, in San Jose, California, the
Company's auditor since 2017, issued a "going concern"
qualification in its report dated March 22, 2019, on the Company's
consolidated financial statements for the year ended Dec. 31, 2018,
citing that the Company has suffered recurring loss from operations
that raises substantial doubt about its ability to continue as a
going concern.

As of June 30, 2019, the Company had $54.28 million in total
assets, $10.09 million in total liabilities, and $44.19 million in
total stockholders' equity.


AGERA ENERGY: Has Final OK on Cash Use, Leave on Supply Facility
----------------------------------------------------------------
Judge Robert D. Drain authorized Agera Energy and debtor affiliates
to use cash collateral on a final basis from the Petition Date
through the earlier to occur of (i) an event of default, or (ii)
the effective date of a confirmed plan in the Debtors' Chapter 11
case, in order to finance all working capital needs and for other
general corporate purposes of the Debtors, as well as pay costs,
fees, liabilities and expense related to these Chapter 11 cases.  

The Court also authorized the Debtors' Postpetition Supply
Facility, pursuant to which the Debtors may obtain supply of energy
on credit pursuant to the Approved Budget, until the earliest to
occur of (a) the transfer of all accounts associated with the
Debtors' customer contracts to the successful bidder or other third
party supplier or the return of said accounts to the applicable
utility or local distribution company, (b) the expiry of the
Specified Period, and (c) the Final Assignment Date.  

The Debtors, previously, have sought permission to use cash
collateral of the Prepetition Secured Parties and to grant the
Prepetition Secured Parties with adequate protection to their
interests for the use of cash collateral.  

The Debtors have contemporaneously sought to enter into the
Postpetition PSA Amendment and Postpetition ISDA Amendments with
the Postpetition Secured Party relating to the Postpetition Supply
Facility in order to (i) obtain post-petition supply of electricity
and natural gas on credit and electricity scheduling services with
certain independent system operators, and (ii) to provide for the
entry into physically- and financially-settled hedges relating to
certain in-the-money contracts to maximize sales proceeds received
under the Stalking Horse APA or any other asset purchase agreement
relating to the sale of the Debtors' customer contracts.

Pursuant to this Order:
* Each of the Senior Lien Secured Party and the Junior Lien
Secured Party, as adequate protection for consenting to the priming
of their pre-petition liens by the Post-petition Supply Facility is
granted, for the amount of diminution, (a) lien on unencumbered
property, (b) replacement liens, (c) liens junior to certain other
liens, and     (d) liens senior to certain other liens;

* The Senior Lien Secured Party will be granted, subject to the
payment of the Carve Out, an allowed super priority administrative
expense claim immediately junior to the Post-petition Super
priority Claims, to the extent of any Diminution of the Senior Lien
Secured Party in the Pre-petition Collateral not eliminated by the
Senior Adequate Protection Liens;

  * The Debtors are authorized to pay as Adequate Protection, all
reasonable and documented fees and expenses incurred by the Senior
Lien Secured Party;

  * Adequate protection payments to the Senior Lien Secured Party
will to be applied to its allowed secured claim.

Moreover, beginning on November 7, 2019, the Debtors will pay to BP
Energy Company, subject to the Approved Budget, an amount equal to
the amount of funds remaining in the Collateral Accounts and
Deposit Accounts that exceeds:
    (i) $10,000,000 until December 1, 2019,
   (ii) $8,000,000 until February 1, 2020,
  (iii) $6,000,000 until March 1, 2020, and
   (iv) $3,000,000 throughout the remainder of the Support Period.

     This determination is done after accounting for all payments
remaining to be made during the Specified Period, other than
payments under the Postpetition Supply Facility.  The Excess Amount
Thresholds may be revised from time to time, subject to agreement
by BP Energy, the Debtors, and the Committee.  

The Court further ruled that in order to secure the Postpetition
Obligations, the Postpetition Secured Party is granted, subject to
the payment of the Carve Out:
    * first lien on cash balances and unencumbered property;
    * priming liens of Prepetition Secured Parties;
    * liens junior to certain other liens; and
    * liens senior to certain other liens.
The liens and security interests are continuing, valid, binding,
enforceable, non-avoidable, and automatically and properly
perfected.

A full-text copy of the Order is available at https://is.gd/QaFhgz
from PacerMonitor.com free of charge.

                       About Agera Energy

Established in 2014, Agera Energy -- http://www.ageraenergy.com/--
is a retail energy supplier offering a one-stop-shop for energy
supply, efficiency and audit services.  Serving a national
footprint of customers, the company supplies residential and
business customers, ranging from the smallest apartments to the
largest industrial users, with electricity and natural gas. With
best-in-class energy solutions, Agera Energy focuses on its
customers so they can focus on their homes and businesses.


ALLEGHENY TECHNOLOGIES: Moody's Rates Unsec. Notes Due 2027 'B2'
----------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Allegheny
Technologies Incorporated's senior unsecured notes due 2027. The
notes are being issued under the company's WKSI shelf (P)B2 for
senior unsecured debt and the proceeds, together with cash on hand,
will be used to redeem the 5.95% senior notes due in 2021. All
other ratings for Allegheny Technologies and Allegheny Ludlum
remain unchanged.

"This debt issue represents a deleveraging event for ATI aided by
proceeds from the sale of non core assets and will contribute to
leverage, as measured by the debt/EBITDA ratio improving to closer
to 4x by year end 2019," said Carol Cowan, Senior Vice President
and lead analyst for ATI.

Assignments:

Issuer: Allegheny Technologies Incorporated

  Senior Unsecured Regular Bond/Debenture, Assigned
  B2 (LGD4)

RATINGS RATIONALE

ATI's B1 CFR reflects the company's continued strengthening in its
end market deliveries and improving margins as the newer contracts
become more predominate in the overall mixture and value-added
revenues increase. ATI's performance continues to benefit from the
ongoing production ramp of the next gen aero engines, improving
demand for airframes as well as in defense. Strengthening in
shipment levels, both in the high value and standard segments
together with improving price realizations on the portfolio as a
whole are contributing factors and expected to be sustained given
the substantive backlogs in the aerospace industry (Aerospace and
Defense account for roughly 50% of revenues). While there is some
softness in the automotive and energy markets, the company's broad
product and customer exposure in the aero industry, particularly
aero engines will drive improving performance, as will the absence
of the issues with nickel powder billet following the company's
ramp-up and qualification of its own production line to address
prior sourcing issues. This had a temporary cost impact that will
be absent going forward. Additionally, ATI has been able to improve
performance in its flat rolled segment to modestly profitable
although some quarterly fluctuations are to be expected.

While leverage, as measured by the adjusted debt/EBITDA ratio has
increased for the twelve months ended September 30, 2019 to 4.9x,
(3x unadjusted) this reflects some operating headwinds in 2019 not
expected to be repeated in 2020, which have impacted 2019 earnings
performance. Given the refinancing of the 2021 notes in a reduced
amount and expectations for 4th quarter performance, leverage is
expected to moderate to around 4x over the near-term and improve
throughout 2020. Additionally, the company is expected to remain
free cash flow generative.

The rating also recognizes ATI's position as a leading producer of
specialty titanium and titanium alloys, nickel-based alloys and
super alloys, providing the company the opportunity to fulfill
unique product requests from its customers. The company benefits
from long term agreements (LTA's) with many of its customers across
the airframe, aeroengine, electrical distribution and generation,
oil and gas as well as medical. The recently signed new LTA with
BSW Technologies, which runs through mid-2026, is expected to
generate approximately $600 million through the contract dates.

From a social perspective, approximately 40% of ATI's workforce is
covered by various collective bargaining agreements, (CBA)
predominately with the USW (United Steel, Paper and Forestry,
Rubber, Manufacturing, Energy, Allied and Industrial Service
Workers International Union). The company endured an approximate 7
month lock out over the 2015/2016 time frame with a new contract
ratified in March 2016. A new CBA was ratified with certain
employees in 2018. The current contract has an expiration date in
early 2020.

The stable outlook incorporates expectations that ATI's operating
performance and cash flow generation will continue to strengthen on
good fundamentals in the aerospace/defense sector, a key market for
the company. The outlook also contemplates that while other end
market sectors such as automotive and oil and gas may be more
muted, performance will be aided by the value-added nature of
products sold into these markets. Included in the outlook is the
expectation that ATI will continue to evidence a disciplined
approach to its capital structure and capital spending.

The SGL-2 Speculative Grade Liquidity rating reflects ATI's good
liquidity position supported by its $511 million cash position at
September 30, 2019 and its asset-based lending facility (ABL)
secured by receivables and inventory of the company's domestic
operations maturing September 30, 2024. ATI's cash position has
been bolstered by $250 million in proceeds received from the
divestitures of non-core assets. The ABL facility includes a $500
million revolving credit facility (including a $200 million letter
of credit sublimit), a fully drawn $100 million term loan and a
$100 million delayed draw term loan availability to June 30, 2020.
The facility has minimum liquidity requirements to be met 91 days
prior to the maturity of the 2021 notes, the 2022 convertible notes
and the 2023 notes. ATI is expected to be free cash flow generative
in 2019. The refinancing of the 2021 notes improves the maturity
profile.

The B2 rating on ATI's senior unsecured instruments reflects the
effective subordination of unsecured debt in the capital structure
relative to the ABL facility. The senior unsecured debt at
Allegheny Ludlum Corporation (guaranteed by ATI) has the same
rating as the senior unsecured debt at ATI given the high level of
interdependence between the operations. The instruments are also
considered to be at parity given the significantly higher asset
values of ATI relative to the asset value of Allegheny Ludlum and
the view that given the operating interdependence, ATI would
support Allegheny Ludlum.

The rating could be upgraded should the company demonstrate the
ability to sustain EBIT margins of at least 8%, EBIT/interest above
3.5x, debt/EBITDA of no more than 3.75x and (operating cash flow
less dividends)/debt of at least 25%. The rating could be
downgraded should the company experience sustained volume and
margin declines or should the improving trends in performance and
debt protection metrics reverse. Quantitatively, ratings could be
downgraded if leverage as measured by the debt/EBITDA ratio is
expected to be sustained above 4.5x, the EBIT margin less than 6%,
EBIT/interest is expected to be sustained below 2x,
(CFO-dividends)/debt is less than 12.5% or free cash flow becomes
consistently negative. A significant contraction in liquidity or
availability under the ABL could also negatively impact the
rating.

Headquartered in Pittsburgh, Pennsylvania, ATI is a diversified
producer and distributor of components and specialty metals such as
titanium and titanium alloys, nickel-based alloys and stainless and
specialty steel alloys. The company operates through two segments:
High Performance Materials and Components and Flat-Rolled Products.
Revenues for the twelve months ended September 30, 2019 were $4.1
billion.

The principal methodology used in this rating was Steel Industry
published in September 2017.


ALLEGHENY TECHNOLOGIES: S&P Rates $350MM Sr. Unsec. Notes 'B'
--------------------------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating and '3'
recovery rating to Allegheny Technologies Inc.'s (ATI) new $350
million senior unsecured notes due in 2027. The '3' recovery rating
indicates its expectation for meaningful recovery (50%-70%; rounded
estimate: 60%) in the event of a payment default. The company will
use the proceeds plus cash on hand to repay its $500 million senior
unsecured notes due in January 2021. S&P's issuer credit rating on
ATI remains 'B' with a stable outlook.

ATI manufactures and sells specialty alloys and metal-based
materials worldwide. The company's high performance materials and
components segments (58% of revenues as of Dec. 31, 2018) offers a
wide variety of titanium, nickel, cobalt, and other metals-based
forgings, castings, and powders. Through its flat-rolled products
segment (42%), ATI sells alloys and stainless steel products in
plate, sheet, and strip. The company's products reach diverse end
markets such as aerospace and defense, oil and gas, electrical
energy, medical, and automotive.

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- S&P is assigning a 'B' issue-level rating to ATI's proposed
$350 million senior unsecured notes due in 2027, in line with its
issuer credit rating on ATI. It also rates ATI's $500 million
senior unsecured notes due in August 2023 'B'. S&P's '3' recovery
rating on ATI's unsecured notes indicates its expectation for
meaningful recovery in the event of a payment default (50%-70%;
rounded estimate of 60%).

-- S&P continues to rate subsidiary Allegheny Ludlum Corp's
unsecured debt 'B+'. Its recovery rating of '2' indicates its
expectation for substantial recovery in the event of a payment
default (70%-90%; rounded estimate of 85%)."

-- Allegheny Ludlum Corp.'s unsecured debt is rated higher than
ATI's other unsecured debt based on S&P's view of the debt having
sufficient asset coverage (plant, property, and equipment and
inventories) of operating subsidiary debt and also benefiting from
a guarantee from ATI.

-- S&P assesses recovery prospects on the basis of a gross
reorganization value of approximately $1.8 billion, reflecting $324
million of emergence EBITDA and a 5.5x multiple. The emergence
EBITDA incorporates the rating agency's assumption for minimum
capex to represent 3% of sales and its standard 15% cyclicality
adjustment for issues in the metals and mining downstream sector.
The 5.5x multiple is also in line with the multiples S&P assigns to
other peer companies.

-- S&P assumes that ATI's $500 million ABL facility would be 60%
drawn at default.

-- Notably, S&P's recovery analysis adjusts for the inclusion of
the company's tax-adjusted pension deficit (three-year average),
deemed material at more than 10% of total debt claims at default,
reducing ATI's gross enterprise value by approximately $400
million.

Simulated default assumptions

-- S&P's simulated default scenario contemplates a default in 2022
due to substantial deterioration in ATI's financial performance.
This could stem from an increasingly difficult operating
environment brought about by weakening demand for specialty
products and stainless steel, exacerbated by global overcapacity, a
deteriorating export market, and increased competition from
imports.

-- Year of default: 2022
-- Emergence EBITDA: $324 million
-- EBITDA multiple: 5.5x
-- Gross recovery value: $1.8 billion

Simplified waterfall

-- Estimated net enterprise value after administrative costs (5%)
and pensions ($400 million): $1.3 billion

-- Estimated priority claims (industrial revenue bonds): $17.5
million

-- Estimated net enterprise value after priority claims: $1.3
billion

-- Valuation split in % (obligors/nonobligors): 100%/0%

-- Total secured debt (ABL and $200 million term loan): $490
million

-- Remaining recovery value: $810 million

-- Senior unsecured debt claims (Allegheny Ludlum debt): $155
million

-- Recovery expectation: 70%-90%; rounded estimate: 85%

-- Remaining recovery value: $655 million

-- Senior unsecured debt claims (ATI unsecured notes): $1.17
billion

-- Recovery expectation: 50%-70%; rounded estimate: 60%

Note: All debt amounts at default include six months' accrued
prepetition interest.


AMERICAN AXLE: Egan-Jones Lowers Senior Unsecured Ratings to B+
---------------------------------------------------------------
Egan-Jones Ratings Company, on November 11, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by American Axle & Manufacturing Holdings Incorporated
to B+ from BB-.

American Axle & Manufacturing Holdings Incorporated, headquartered
in Detroit, Michigan, is a manufacturer of automobile driveline and
drive train components and systems.


AMERICAN WORKERS INSURANCE: Gets Approval to Hire CR3 Partners
--------------------------------------------------------------
American Workers Insurance Services, Inc. and Association Health
Case Management, Inc. received approval from the U.S. Bankruptcy
Court for the Northern District of Texas to hire CR3 Partners, LLC
and the firm's director, William Roberts, as their chief
restructuring officer.
   
The services to be provided by the CRO and his firm in the Debtors'
Chapter 11 cases include:

     (a) Reviewing and analyzing the financial and operational
position of the Debtors;

     (b) Evaluating and investigating potential strategies for the
restructuring and refinancing of the Debtors;

     (c) Preparing data and analyses to meet the requests of the
Debtors' financial constituents;

     (d) Providing oversight and support to the Debtors' other
professionals in connection with the execution of the Debtors’
business plan, any sales process and the overall administration of
activities within the Debtors' Chapter 11 proceedings;

     (e) Providing oversight and assistance in connection with the
preparation of financial-related disclosures required by the
bankruptcy court;

     (f) Providing oversight and assistance in connection with the
preparation of financial information for distribution to creditors
and other concerned parties;

    (g) Participating in meetings and providing assistance to any
official committee appointed in the Debtors' cases, the U.S.
trustee and other concerned parties;

     (h) Evaluating, making recommendations and implementing
strategic alternatives as needed to maximize the value of the
Debtors' assets;

     (i) evaluating, analyzing and making recommendations relating
to the Debtors' assets;

     (j) Providing oversight and assistance in connection with the
preparation of analysis of creditor claims;

     (k) Providing oversight and assistance in connection with the
evaluation and analysis of avoidance actions;

     (l) Providing testimony in litigation and bankruptcy-related
matters as required;

     (m) Evaluating the cash flow generation capabilities of the
Debtors for valuation maximization opportunities;

     (n) Providing oversight and assistance in connection with
communications and negotiations with constituents including
investors and other critical constituents to the successful
restructuring of the Debtors;

     (o) Assisting in the development of a plan of reorganization
or liquidation and in the preparation of information and analysis
necessary for the confirmation of a plan in the chapter 11
proceedings; and

     (p) Performing other tasks as directed by the Debtors and
agreed to by the firm's personnel, including all tasks necessary to
facilitate the Debtors' restructuring.

The firm's hourly rates are:
  
     Bill Roberts        $525
     Consultants     $250 to $450

CR3 Partners is "disinterested" within the meaning of Section
101(14) of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     William L. Roberts
     CR3 Partners, LLC
     177 Aledo Crees Rd.
     Fort Worth, TX 76126
     Phone: 214.507-2750
     Email: bill.roberts@cr3partners.com

                 About American Workers Insurance

American Workers Insurance Services, Inc., is a health insurance
agency in Rockwall, Texas.  

Association Health Care Management, Inc., doing business as Family
Care, provides health care services.  AHCM offers assistance,
nursing, patient care, rehabilitation, and dental services.  

AWIS and AHCM sought Chapter 11 protection (Bankr. N.D. Tex. Case
No. 19-44208 and 19-44209) on Oct, 14, 2019 in Fort Worth, Texas.
The petitions were signed by Harold Lyndon Brock, Jr., president of
American Workers Insurance, and Landon Jordan, chief executive
officer of Association Health Care.
    
On the Petition Date, AWIS was estimated to have $50 million to
$100 million in assets, and $10 million to $50 million in
liabilities; AHCM was estimated to have between $50 million and
$100 million in assets, and between $10 million and $50 million in
liabilities.

The Hon. Mark X. Mullin is the case judge for Debtor AWIS' case,
and Hon. Edward L. Morris for Debtor AHCM's case.  Forshey &
Prosto, LLP, serves as counsel to both Debtors.


APEX ENERGY: U.S. Trustee Forms 3-Member Committee
--------------------------------------------------
Gregory Garvin, acting U.S. trustee for Region 18, on Nov. 18,
2019, appointed three creditors to serve on the official committee
of unsecured creditors in the Chapter 11 case of Apex Energy, LLC.

  
The committee members are:

     (1) After Hours Welding & Repair
         Justin Birst, President
         439 Arabian Place
         Bismarc, ND 58503
         ahwelding@hotmail.com
         701-220-2065

     (2) Big Dog Trucking Inc.
         Michael D. Lovegren, President
         Box 26
         Crane, MT 59217
         bigdogtruckinginc@hotmail.com

     (3) Regency Energy Services
         Victor Temple, CFO
         1648 S. Cuchman St., Suite 205
         Fairbanks, AK 99701
         Victor.temple@theblackgoldgroup.com
         907-347-8355
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                        About Apex Energy

Regency Energy Services, LLC filed a Chapter 7 involuntary petition
against Apex Energy, LLC (Bankr. D. Mont. Case No. 19-60676) on
July 1, 2019.  Regency Energy Services is represented by James H.
Cossitt, Esq.

On Oct. 7, 2019, the court ordered the conversion of the case to a
Chapter 11 case (Bankr. D. Mont. Case No. 19-60676).

The case is assigned to Judge Benjamin P. Hursh.  

The Debtor tapped The Patten, Peterman, Bekkedahl & Green Law Firm
as its legal counsel.


ARROW ELECTRONICS: Egan-Jones Lowers Sr. Unsecured Ratings to BB+
-----------------------------------------------------------------
Egan-Jones Ratings Company, on November 11, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Arrow Electronics Incorporated to BB+ from BBB-.

Arrow Electronics is an American Fortune 500 company headquartered
in Centennial, Colorado. The company specializes in the
distribution and value-added services relating to electronic
components and computer products.


BEAVER'S DAIRY: May Use FCE Cash Collateral Through Nov. 25
-----------------------------------------------------------
Judge Carl L. Bucki of the U.S. Bankruptcy Court for the Western
District of New York has inked his approval to a Stipulation and
Order authorizing Beaver Dairy Farm, LLC to use cash collateral on
a limited basis for payroll and other supplies and services in
accordance with the Wind Up Budget through Nov. 25, 2019.

The Stipulation is entered into between the Debtor, Beaver's
Trucking Co., LLC and Dale F. Beaver and Farm Credit East, ACA. The
Parties have agreed that the Debtor is authorized to use cash
collateral, provided that the Debtor meets each of the following
conditions:

      (A) The Debtors will account to FCE, the U.S. Trustee's
office, and counsel for the Official Committee of Unsecured
Creditors for cash collateral actually received and disbursed in
accordance with the Wind Up Budget.

      (B) The Debtors will fully cooperate with the continued wind
up and liquidation of Non-REal Estate Collateral, whether by
private or public sale on the Beaver Dairy Farm, LLC's real estate
or at other locations and will transfer possession and/or title to
the Non-Real Estate Collateral to FCE or its assignee, or such
other third party purchase as requested by FCE.  In exchange for
such cooperation, FCE agrees to (i) pay Dale Beaver $10,000; (ii)
reduce the maximum indebtedness secured by the Credit Line Mortgage
granted by Dale and Donna Beaver on the Beaver Residence from
$206,000 to $180,000; and (iii) defer abt payments due on the
Beaver Residence for the 6-month period from November 2019 through
April 2020, provided, however, that Dale Beaver maintain insurance
and pays the current real estate payments due on said property.

     (C) Empire Livestock Marketing LLC and Maplehurst Livestock
Market, Inc. are directed to replace the cull cow checks and any
additional cull cow checks that are due to Beaver Day Farm, LLC
and/or Dale Beaver and/or Empire and/or Maplehurst and make them
payable directly to Farm Credit East, ACA only.

     (D) Beaver Day Farm, LLC will file a motion to convert its a
Chapter 12 case By November 6, with a return date no later than
December 4.

     (E) Upon the conversion of the Beaver Day Farm, LLC case, said
Debtor will file a Chapter 12 Plan by Dec. 12, 2019 that provides
for a sale of substantially all of the Debtor's Real Estate.

The balance of the Motion regarding the request for Relief from the
Stay on the Real Estate is adjourned to Dec. 20, 2019 at 11:30
a.m.

A copy of the Stipulation and Order is available for free at
https://tinyurl.com/yguvmefl from Pacermonitor.com

                    About Beaver Dairy Farm

Beaver Dairy Farm LLC is a privately held company in Randolph, New
York, in the dairy farms business. Beaver's Trucking Co. is
operates in the specialized freight trucking industry.

Beaver Dairy Farm, LLC and Beaver's Trucking Co., LLC filed Chapter
11 bankruptcy petitions (Bankr. W.D.N.Y. Case Nos. 18-12409 and
18-12411, respectively) on Nov. 16, 2018.

In the petitions signed by Dale F. Beaver, owner, Beaver Dairy was
estimated to have $1 million to $10 million in assets and the same
range of liabilities; and Beaver's Trucking was estimated to have
$100,000 to $500,000 in assets and $50,000 to $100,000 in
liabilities.

The cases are assigned to Judge Carl L. Bucki.

The Debtors are represented by Garry M. Graber, Esq. at Hodgson
Russ LLP.


BES LLC: Taps Cobb Law as Special Counsel
-----------------------------------------
BES LLC received approval from the U.S. Bankruptcy Court for the
Northern District of Georgia to hire Cobb Law Group as special
counsel.

Cobb Law Group will represent the Debtor, a provider of commercial
and electrical services, in connection with its claims associated
with work performed for JETA GA LLC, a contractor in Atlanta, Ga.

The firm's hourly rates are:

     Mark Cobb, Esq.      $395
     Senior Associate     $290
     Junior Associate     $225
     Legal Assistant      $90 - $150

Mark Cobb, Esq., a partner at Cobb Law, attests that the firm does
not represent any interest adverse to the Debtor's bankruptcy
estate.

The firm can be reached through:

     Mark A. Cobb, Esq.
     Cobb Law Group
     3355 Lenox Road, Suite 750
     Atlanta,GA 30326
     Phone: 770-886-5890

           About BES LLC

BES LLC, doing business as Black Electric Service, sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga.
Case No. 19-57615) on May 15, 2019.  At the time of the filing, the
Debtor had estimated assets of less than $500,000 and liabilities
of less than $1 million.  The case has been assigned to Judge Paul
Baisier.  Paul Reece Marr P.C. is the Debtor's legal counsel.


BODY BY PASTRAMI: Seeks Authorization to Use Cash Collateral
------------------------------------------------------------
Body By Pastrami, LLC, seeks authority from the U.S. Bankruptcy
Court for the District of Oregon  to use cash collateral.

In order to formulate its Chapter 11 Plan, the Debtor requires the
use of cash collateral for the payment of wages, salaries and
operating expenses. The Debtor proposes to use cash collateral in
the amount of $169,200 on an interim basis for the period of Nov. 6
through Dec. 15, 2019 on the terms set forth in the proposed
Interim Order

On Deck Capital, Inc. and American Express may claim liens in the
cash collateral, which consist of proceeds from the sale of
Debtor's real property.

The Debtor proposes to grant On Deck and American Express the
following protection:

     (a) A replacement lien on all of the postpetition property of
the same nature and kind in which each of them has a prepetition
line or security interest.  The replacement liens will have the
same relative priority vis-a-vis one another as existed on the
petition date with respect to the original liens.

     (b) The Debtor will timely perform and complete all actions
necessary and appropriate to protect Lien Creditors' collateral
against diminution in value.

                     About Body By Pastrami

Body By Pastrami, LLC, is an Oregon limited liability company
managed by its member, Ken Gordan.  The company owns and operates a
delicatessen in the Portland metropolitan area, Kenny & Zuke's
Delicatessen.

Body By Pastrami sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Ore. Case No. 19-34107) on Nov. 6, 2019,
disclosing assets of less than $500,000 and debt of less than $1
million.  The Debtor is represented by Nicholas J. Henderson, Esq.,
at Motschenbacher & Blattner, LLP.


BRIGHTER CHOICE: Fitch Assigns 'BB' IDR, Outlook Positive
---------------------------------------------------------
Fitch Ratings upgraded the following revenue bonds issued by the
Albany Industrial Development Agency (NY) on behalf of the Brighter
Choice Elementary Charter Schools to 'BB' from 'B':

  -- $14,660,000 civic facility revenue bonds (Brighter Choice
     Charter Schools project) series 2007A.

The Rating Outlook has been revised to Positive from Stable.

In addition, Fitch has assigned an Issuer Default Rating of 'BB' to
Brighter Choice Charter Schools.

The IDR Rating Outlook is Positive.

SECURITY

The bonds are a general obligation of BCCS and are payable from
gross revenues, primarily state-mandated school district per-pupil
aid payments of the two BCCS schools (boys and girls). In addition,
bonds are payable from a cash-funded reserve equal to maximum
annual debt service (MADS) and other reserve funds under the
indenture. Bondholders also benefit from a first mortgage lien on
the two school facilities.

ANALYTICAL CONCLUSION

The upgrade of the revenue bonds reflects a trend of material
improvement in BCCS's financial performance, resulting in decreased
leverage and an improved financial profile. The implementation of
improved budgeting and financial practices in fiscal 2016 has
yielded significant improvements in liquidity, leverage, and cash
flow. The current financial profile assessment suggests a higher
rating; however, the rating is constrained by the asymmetric risk
of the short-term charter renewal period.

The Positive Rating Outlook reflects the possibility of further
positive rating action if both the boys and girls school (the
schools) are granted a five-year charter renewal during their next
renewal period and the schools maintain positive financial trends.

KEY RATING DRIVERS

Revenue Defensibility -- Midrange: The midrange assessment reflects
BCCS's history of stable enrollment, satisfactory waitlist, and
academic performance above local public school district averages.

Operating Risk -- Midrange: Fitch believes BCCS has midrange
flexibility to vary costs with enrollment shifts and expects fixed
carrying costs to remain low.

Financial Profile -- 'bbb': BCCS's leverage metrics have improved
over the past four fiscal years and are consistent with a 'bbb'
assessment in Fitch's forward-looking rating case.

Asymmetric Additional Risk Considerations: Charter renewal risk --
both the boys and girls schools are currently in their second
consecutive three-year charter term, which falls short of the
standard five-year renewal term. Fitch views the short-term renewal
as an asymmetric risk as it indicates a deficiency in meeting
performance and academic benchmark targets/indicators set forth by
the Board of Regents and potential heightened risk of school
closure.

RATING SENSITIVITIES

CHARTER RENEWAL: A renewal of each school's charter for a five-year
term in 2021 could support positive rating movement. Another
three-year renewal would lead to a revision of the Outlook to
Stable. Continued charter renewal concerns over time might lead to
downward rating pressure.

ENROLLMENT, FINANCIAL PERFORMANCE: An unexpected change in trend in
enrollment or financial performance, leading to weaker operating
margins, cash flow available for debt service or liquidity would
put downward pressure on the rating.

CREDIT PROFILE

BCCS for girls and boys opened in 2002 with a mission to provide a
single-gender public school alternative for students from
economically disadvantaged families. The schools were launched with
the support of the Brighter Choice Foundation, which developed the
facilities. The 2007A bond proceeds funded the schools' purchase of
the facilities from the foundation and certain enhancements.

BCCS obtained authorizer permission in fiscal 2016 to expand into
fifth grade (previously K-4) and did so for the 2016-2017 school
year. The boys and girls school had enrollment of 304 and 328,
respectively, as of October 2019. Fifth grade students accounted
for 44 and 41 students, respectively.

Revenue Defensibility

BCCS's midrange revenue defensibility is driven by a history of
enrollment at or close to capacity, satisfactory demand
flexibility, and academic performance above district averages.
Typical of the charter school sector, revenue defensibility is
limited by the inability to control pricing as the schools main
revenue source is derived from per pupil revenue from the state.

The schools' academic results help support sound demand and
enrollment. In the 2019 school year, the percentage of students
scoring proficient or advanced in English Language Arts (ELA) and
math at both the boys & girls schools continued to exceed Albany
City School district averages. In addition, both schools exceeded
New York State averages in ELA for the second consecutive year, but
results were below the state in math.

The schools have a solid enrollment history, consistently at or
close to management's budgeted capacity. In fiscal year 2019,
enrollment was approximately 320 students at each school. As of
October 2019, enrollment at the boys school was 304 and enrollment
at the girls' school was 328. Both schools had budgeted enrollment
for the year at 315. Management reports that weaker enrollment at
the boys school was due to competition from another local charter
school. Management expects the boys' enrollment to increase as the
academic year progresses. Both schools maintain a satisfactory
waitlist.

Fitch expects per-pupil funding to grow at approximately the rate
of inflation, consistent with school districts in the state.

Operating Risk

Fitch considers BCCS's operating risk profile to be midrange, based
on low fixed carrying costs and the flexibility to control other
expenditures. BCCS has well-identified cost drivers that have some
potential volatility.

Adequate expenditure flexibility is provided by management's strong
degree of control in managing its workforce costs, which are not
governed by collective bargaining agreements. However, practical
limitations include the limited ability to reduce teacher
headcount, since doing so could impair academic performance, which
could reduce student demand and increase costs. Fitch recognizes
that management can control salaries and reduce some other costs in
a recessionary period, supporting the midrange operating risk
assessment.

In fiscal 2015, BCCS ended its relationship with the Albany Charter
School Network, which had been providing financial management and
academic support to the schools. Since that time, BCCS has engaged
outside consultants to support finances and operations, and has
supported academic functions internally. Financial consultants
implemented improved budgeting and financial reporting practices,
which have resulted in a material improvement in BCCS's financial
results and position. Fitch expects the improved budgeting and
financial practices to continue to support positive operating
results.

BCCS's fixed carrying costs for maximum annual debt service (MADS)
are low at approximately 13% of fiscal 2019 total expenditures.
BCCS does not participate in a defined benefit pension plan.

Management reports that it does not have any significant projected
capex requirements.

Financial Profile

BCCS's leverage is consistent with an 'bbb' assessment given the
midrange revenue defensibility and operating risk assessments. The
'bbb' financial profile assessment incorporates BCCS's current
metrics and pro-forma metrics during Fitch's rating case scenario.

Fitch's base case incorporates recent improved and solid operating
margins, growing cash position, and moderate leverage. Net debt to
cash flow available for debt service (CFADS) has declined
materially over the past four fiscal years from 15.9x in fiscal
2015 to 4.7x in fiscal 2019. The base case assumes growth in
operating revenues and expenditures (excluding non-cash items and
interest expense) at about the rate around inflation. Fitch assumes
non-operating revenues remain flat. In this scenario, BCCS's net
debt to CFADS continues to decline annually to approximately 2.7x
by the third year, with an increase in cash balances and principal
amortization.

Fitch's rating case incorporates a revenue stress utilizing FAST
for States & Locals. Fitch's scenario shows a 1% GDP decline
resulting in a 1% operating revenue decline in year one, followed
by flat revenue growth in year two and a revenue recovery of 1% in
the third year. Fitch assumes that expenditures (excluding non-cash
items and interest expense) would increase by 2% in the first year
of the rating case, but that the schools would be able to halt
expenditure growth in the second and third years of the rating
case. In this scenario, BCCS's net debt to CFADS increases to 5x in
the first year from 4.7x in fiscal 2019, but improves to around
3.4x in the third year.

Asymmetric Additional Risk Considerations

Fitch views the short-term renewal as an asymmetric risk as it
indicates a deficiency in meeting performance and academic
benchmark targets/indicators set forth by the Board of Regents and
potential higher than typical risk of school closure.

The charter for both the boys and girls schools were most recently
renewed in 2018 for a term ending June 30, 2021. During the most
recent renewal period, the Board of Regents cited that both the boy
and girls schools were not yet meeting enrollment and retention
targets for students with disabilities (SWDs) or those who are
English Language Learners (ELLs) and compliance issues. The Board
of Regents noted in the renewal report (dated Feb. 6, 2018) that
BCCS is making some "good faith" efforts towards meeting its
enrollment targets and is working with the New York State Education
Department to rectify any legal compliance issues. In addition, the
renewal report cited that the boys' school financial position
appears to be weak, but improving, according to a composite score
that is calculated by the NYSED and based on fiscal 2017 audited
results. Fitch believes that this has been addressed, given the
positive financial results over the last two fiscal years, which
has increased the boys school's balance sheet.


BUANNO TRANSPORT: Unsecureds to Recover 5% in 5-Year Plan
---------------------------------------------------------
Debtor Buanno Transport Company, Inc., filed with the U.S.
Bankruptcy Court for the Northern District of New York a disclosure
statement describing its plan of reorganization.

General unsecured claims in Class 6 will receive $750 per month
during the life of the plan, three months following the effective
date.  Payments will begin 3 months following the Effective Date
and will end on the 5th anniversary of the Effective Date.  The
class is expected to have 5% of their claims paid.

Peter Buanno II, owner of 100% of Debtor's equity securities (Class
7), will receive no distributions during the Plan.

Payments and distributions under the Plan will be funded by the
income received from the operation of Debtor's business.  The
Debtor's principal's relinquishment of his right to receive salary
during the first year of the Plan as a substantial and essential
contribution to the Plan in exchange for Debtor's principal's
continued ownership of the Debtor.

A full-text copy of the Disclosure Statement dated Nov. 5, 2019, is
available at https://tinyurl.com/y4eqxfl5 from PacerMonitor.com at
no charge.

                About Buanno Transport Company

Since 2006, Buanno Transport Company, Inc., d/b/a BTA, has been in
the business of providing ground transportation services to various
companies desirous of moving goods from one location to another.

BTA sought Chapter 11 protection (Bankr. N.D.N.Y. Case No.
18-60283) on March 7, 2018.  In the petition signed by Peter
Buanno, president, the Debtor was estimated to have $100,000 to
$500,000 in assets and $1 million to $10 million in estimated
liabilities. The case is assigned to Judge Diane Davis.  The Debtor
tapped Stephen J. Waite, Esq., at Waite & Associates, P.C., as its
legal counsel.  No official committee of unsecured creditors has
been appointed in the Chapter 11 case.


BUILTRITE BUILDERS: Unsecureds Get 65% of Net Profits for 5 Years
-----------------------------------------------------------------
According to its Disclosure Statement, debtor Builtrite Builders,
LLC, has filed a Second Amended Plan of Reorganization which
provides that creditors holding allowed unsecured claims will
receive their pro rata share of the Net Profits Fund.
Distributions from the Net Profits Fund shall continue for 5 years
following the effective date of the Plan. Distributions to Class 8
claimants shall not exceed the amount of the Allowed Unsecured
Claim plus interest calculated at 2.5% per annum.

The Debtor will distribute 65% of net profits toward allowed
unsecured claims and anticipates that retaining 35% of net profits
to serve as operating capital will allow the Debtor to operate
without the need to borrow significant amounts during the term of
the Plan.

On the effective date, the sole member of the Debtor will waive his
prepetition claim, continue to guarantee certain debts of the
Reorganized Debtor, and continue to manage the Debtor's operations
post-confirmation.  As a result of his contribution of new value,
the member shall retain his prepetition equity interests.

Payments and distributions under the Plan will be funded by the
following: the Debtor's operations, a loan from the equity interest
holder, and litigation and settlement proceeds. The Debtor has
reduced expenses and streamlined operations.  The Debtor
anticipates that its gross revenues will continue to increase.  If
the Debtor has sufficient net income, the Debtor may continue to
pursue claims against the homeowners that owed the Debtor money on
the Petition Date.  To the extent any amounts are recovered, they
will go first to any mechanics lien claimants that hold claims
against such recoveries.

A full-text copy of the Second Amended Disclosure Statement dated
Nov. 5, 2019, is available at https://tinyurl.com/y2qeeakv from
PacerMonitor.com at no charge.

                       About Builtrite Builders

Builtrite Builders, LLC, builds homes under fixed price contracts
in much of Colorado's Front Range Urban Corridor. It conducts
business under the names Copperleaf Homes and Copperleaf Custom
Homes.

Builtrite Builders filed a Chapter 11 petition (Bankr. D. Colo.
Case No. 19-10938) on Feb. 11, 2019. In the petition signed by
Steve Neary, president, the Debtor estimated $500,000 to $1 million
in assets and $1 million to $10 million in liabilities.  The Hon.
Joseph G. Rosania Jr. oversees the case.  Wadsworth Warner
Conrardy, P.C., is the Debtor's bankruptcy counsel.


CANTRELL DRUG: Seeks to Hire Resurgence Financial Services
----------------------------------------------------------
Cantrell Drug Company, Inc. seeks approval from the U.S. Bankruptcy
Court for the Eastern District of Arkansas to hire Resurgence
Financial Services, LLC.

Resurgence Financial Services will assist the Debtor in the
marketing and sale of its assets, and will receive 5 percent of the
gross proceeds as commission. The firm received a retainer fee of
$17,500.

Gary Murphey of Resurgence Financial Services disclosed in court
filings that the firm neither holds nor represents any interest
adverse to the Debtor's bankruptcy estate.

The firm can be reached at:

     Gary Murphey
     Resurgence Financial Services, LLC
     3330 Cumberland Blvd., Suite 500
     Atlanta, GA 30339
     Phone: (770) 933-6855

                            About Cantrell Drug

Cantrell Drug Company, Inc. is a manufacturer of specialty
pharmaceutical drugs for private and non-profit healthcare
providers.  CDC is registered with the FDA as an Outsourcing
Facility under Section 503B of the Federal Food, Drug, and Cosmetic
Act passed by Congress in 2013.  

Cantrell Drug Company filed a Chapter 11 petition (Bankr. D. Ark.
Case No. 19-15415) on Oct. 10, 2019.  The Debtor previously sought
bankruptcy protection on Nov. 7, 2017 (Bankr. E.D. Ark. Case No.
17-16012).

In the petition signed by James L. Mc Carley, Jr., chief executive
officer, the Debtor disclosed assets of between $1 million and $10
million  and liabilities of the same range.  

The case is assigned to Judge Phyllis M. Jones.  The Debtor is
represented by Kevin P. Keech, Esq. at Keech Law Firm, P.A.


CARTONI GROUP: Plan and Disclosure Statement Due Jan. 10, 2020
--------------------------------------------------------------
Following a status conference held Nov. 4, 2019 in the case of The
Cartoni Group, LLC, Judge Caryl E. Dalano has set a deadline for
filing a plan and disclosure statement.

The judge ordered that:

   * The Cartoni Group must file a Plan and Disclosure Statement on
or before January 10, 2020.

   * Pursuant to section 105(d)(2)(B)(vi) of the Bankruptcy Code,
the hearing on the approval of the Disclosure Statement must be
consolidated with the hearing on the confirmation of the Plan and
must be scheduled as set forth herein.

   * If the Debtor fails to file a Plan and Disclosure Statement by
the Filing Deadline, the Court will issue an order to show cause
why the case should not be dismissed or converted to a Chapter 7
case pursuant to section 1112(b)(1) of the Bankruptcy Code.

A full-text copy of the Order dated Nov. 6, 2019, is available at
https://tinyurl.com/sgtu258 from PacerMonitor.com at no charge.

                        About Cartoni Group

Cartoni Group, LLC is a lessor of real estate in New Port Richey,
Florida.  The Company owns in fee simple two properties having an
aggregate current value of $1,425,000.

Cartoni Group sought Chapter 11 protection (Bankr. M.D. Fla. Case
No. 19-09576) on Oct. 9, 2019, in Tampa, Florida.  In the petition
signed by Richard K. Smith, managing member, the Debtor listed
total assets at $1,499,000 and total liabilities: $1,053,781.
BUDDY D. FORD, P.A., is the Debtor's counsel.


CASELLA WASTE: Moody's Rates $25MM Solid Waste Disposal Bonds 'B2'
------------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to the remarketed
$25 million Solid Waste Disposal Revenue Bonds of the New York
State Environmental Facilities Corporation Series 2014.

These bonds are guaranteed by Casella Waste Systems, Inc. and all
of its operating subsidiaries. All other ratings on Casella are
unaffected, including the Ba3 corporate family rating and the B2
ratings on all existing senior unsecured industrial revenue bonds
that Casella also guarantees. The rating outlook is stable.

RATINGS RATIONALE

Casella's ratings reflect modest scale with a regional focus in the
Northeast and margins that fall shy of rated industry peers largely
due to regional operating dynamics. Nonetheless, steady execution
of strategic initiatives continues to de-risk the credit profile
with debt-to-EBITDA now below 4x (from over 6x in 2014) and
EBIT-to-interest over 2x (from below 1x at December 2015). Free
cash flow should return to the $40 million - $50 million range for
fiscal 2020 after the company pulled forward some growth-driven
capital investments in 2019. Heightened focus on operations
including more effective pricing for landfill and collection
operations in excess of inflation, collection route efficiencies
and restructuring recycling contracts continue to drive higher
returns. Routing incremental waste volumes to the company's
owned-landfills continues to benefit Casella, as the northeast
region experiences a disposal capacity imbalance with growing
demand yet certain regions with no incremental tipping capacity at
landfills. This is a favorable dynamic for Casella as an owner of
strategically-positioned landfills that are undergoing current or
planned/permitted useful life extensions.

Casella's pace of debt reduction is expected to moderate as the
company takes on a more-balanced approach to deploying free cash
flow among debt repayment, acquisitions and other growth
initiatives. As a result, earnings growth will replace debt
repayment as the primary driver to lower leverage. Accordingly,
Moody's anticipates debt-to-EBITDA to trend towards the mid-3x
range by year-end 2020.

Casella's liquidity profile is good as denoted by the SGL-2 rating
driven by the comparatively large revolving credit and expectations
for increasing free cash flow and a more normalized working capital
position, with light debt maturities. Cash is likely to remain
minimal, but liquidity is supported by improving, normalized free
cash flow generation that is being driven by stronger margins from
robust year-over-year pricing growth in the collection and disposal
lines of business. The $200 million secured revolving credit
facility had availability of approximately $132 million at
September 30, 2019 after netting amounts drawn and posted letters
of credit. With the exception of periodic usage to help fund
acquisitions, Moody's expects availability to remain consistent
with the current level. The revolving facility expires May 2023 and
includes standing maintenance covenants of maximum net leverage
with step-downs and minimum interest coverage with a step-up.

Rating Assigned:

Senior Unsecured Solid Waste Disposal Revenue Bonds, New York State
Environmental Facilities Corporation Series 2014, at B2 (LGD5)

The stable outlook reflects Moody's expectations for steady revenue
growth (3%+ organic), a step-up in free cash flow and modest margin
expansion augmented by stronger collection and disposal pricing as
a result of reduced landfill capacity in the Northeast US.
Projected annual free cash flow - near $50 million by the end of
2020 - is anticipated to be deployed between tuck-in acquisitions
and debt repayment. The stable outlook also includes expectations
that if Casella utilizes debt to help fund acquisition activity,
borrowings will be modest and repaid from cumulative free cash flow
within a relatively short timeframe.

The ratings could be upgraded following prudent and profitable
expansion of the company's operating footprint beyond New England
and New York to achieve greater scale, an EBITDA margin approaching
the mid-20% range, free cash flow-to-debt in excess of 10% and
EBIT-to-interest approaching 3x. The ratings could be downgraded
with expectations of flat organic revenue growth, free cash
flow-to-debt falling to low-single digit levels, debt-to-EBITDA
exceeding the low-4x range or a weaker liquidity profile
considering the negligible cash position with a sustained drop in
free cash flow or significantly reduced availability under the
revolving credit facility.

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

Casella Waste Systems, Inc. is a Northeast US regionally-focused
(Vermont, New Hampshire, New York, Massachusetts, Maine and
Pennsylvania) solid waste management company providing collection,
transfer, disposal and recycling services. The company reported
revenues of approximately $725 million for the latest twelve months
ended September 30, 2019.


CATHERINE COURTS: Seeks to Hire Goldstein & McClintock as Counsel
-----------------------------------------------------------------
Catherine Courts Condominium, LLC and its debtor-affiliates seek
approval from the U.S. Bankruptcy Court for the Northern District
of Illinois to hire Goldstein & McClintock LLLP as their legal
counsel.

The firm will provide these services in connection with the
Debtor's Chapter 11 case:  

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

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

     c. take all necessary action to protect and preserve the
bankruptcy estates, including prosecuting actions on the Debtors'
behalf, defending any action commenced against the Debtors, and
representing the Debtors' interests in negotiations concerning all
litigation in which they are involved;

     d. prepare motions, reports and other legal papers;

     e. take any necessary action to obtain approval of the
Debtors' disclosure statement and confirmation of its plan of
reorganization;

     f. represent the Debtors in connection with obtaining use of
cash collateral and post-petition financing (if necessary);

     g. advise the Debtors in connection with any potential sale of
their assets; and

     h. appear before the bankruptcy court, appellate courts and
the U.S. trustee to protecting the interests of the Debtors'
estates.

Goldstein's hourly rates are:

     Senior Partners   $785
     Associates        $310
     Law Clerks        $165 to $235

Matthew McClintock, Esq., and Amrit Kapai, Esq., the firm's
attorneys who will be handling the case, will charge $495 per hour
and $385 per hour, respectively.

Mr. McClintock attests that the firm is a "disinterested person" as
that phrase is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Amrit S. Kapai, Esq.
     Goldstein & McClintock LLLP
     111 W. Washington St., Ste 1221
     Chicago, IL 60602
     Tel: (312) 337-7700
     Fax: (312) 277-2305
     Email: amritk@goldmclaw.com

                  About Catherine Courts Condominium

Catherine Courts Condominium, LLC and Catherine Courts Management,
Inc. are privately held companies whose principal assets are
located at 8503 W. Catherine Ave., Chicago, Ill.  

Catherine Courts Condominium and Catherine Courts Management sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D.
Ill. Lead Case No. 19-29822) on Oct. 20, 2019.  The petitions were
signed by Guido C. Neri, member and authorized representative.  At
the time of the filing, Catherine Courts Condominium disclosed
assets and liabilities of less than $50 million, while Catherine
Courts Management disclosed assets and liabilities of less than
$50,000.

The Hon. Timothy A. Barnes is the case judge.

Amrit S. Kapai, Esq. at Goldstein & McClintock LLLP, is the
Debtors' counsel.


CATSKILL DISTILLING: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Catskill Distilling Company, Ltd.
           d/b/a Dancing Cat Distillery
        P.O Box 5
        Bethel, NY 12720

Business Description: Catskill Distilling Company, Ltd. is a
                      distillery in Bethel, New York.  Catskill
                      Distilling is owned and run by Stacy Cohen.

Chapter 11 Petition Date: November 19, 2019

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

Case No.: 19-36861

Judge: Hon. Cecelia G. Morris

Debtor's Counsel: Michelle L. Trier, Esq.
                  GENOVA & MALIN
                  Hampton Business Center
                  1136 Route 9
                  Wappingers Falls, NY 12590
                  Tel: 845-298-1600
                  Fax: 845-298-1265
                  E-mail: michelle_genmal@optonline.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Stacy Cohen, president.

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/nysb19-36861.pdf


CHESAPEAKE ENERGY: Moody's Lowers Corp. Family Rating to Caa1
-------------------------------------------------------------
Moody's Investors Service downgraded Chesapeake Energy
Corporation's Corporate Family Rating to Caa1 from B2, its
Probability of Default Rating to Caa1-PD from B2-PD, and its senior
unsecured notes ratings to Caa2 from B3. Concurrently, Moody's
downgraded the CFR of Chesapeake's wholly-owned subsidiary Brazos
Valley Longhorn, L.L.C. to Caa1 from B2 and the senior unsecured
notes rating of Brazos Valley's predecessor entity, WildHorse
Resource Development Corporation to Caa2 from B3. The outlooks for
Chesapeake and Brazos Valley are negative. This concludes the
review for downgrade on Chesapeake and Brazos Valley that was
initiated on November 7, 2019.

"The downgrades reflect the heightened potential for Chesapeake to
undertake a distressed exchange or other restructuring activity in
light of the company's history of largescale purchases of its debt
at distressed levels, the deep discount at which its debt is
trading and statements the company's management has made pointing
to the possibility of 'capital exchange transactions'," said John
Thieroff, Moody's Senior Analyst.

Downgrades:

Issuer: Chesapeake Energy Corporation

  Probability of Default Rating, Downgraded to Caa1-PD from B2-PD

  Corporate Family Rating, Downgraded to Caa1 from B2

  Senior Unsecured Shelf, Downgraded to (P)Caa2 from (P)B3

  Senior Unsecured Notes, Downgraded to Caa2 (LGD5) from B3 (LGD4)

Issuer: Brazos Valley Longhorn, L.L.C.

  Corporate Family Rating, Downgraded to Caa1 from B2

  Probability of Default Rating, Downgraded to Caa1-PD from B2-PD

Issuer: WildHorse Resource Development Corporation

  Senior Unsecured Ratings, Downgraded to Caa2 (LGD5) from B3
  (LGD4)

Outlook Actions:

Issuer: Chesapeake Energy Corporation

  Outlook, Changed To Negative From Rating Under Review

Issuer: Brazos Valley Longhorn, L.L.C.

  Outlook, Changed To Negative From Rating Under Review

Issuer: WildHorse Resource Development Corporation

  Outlook, Changed To Negative From Rating Under Review

RATINGS RATIONALE

Chesapeake's Caa1 CFR reflects Moody's view that the risk of a
distressed exchange or other restructuring is high. This view is
supported by comments regarding the potential for such activity the
company has made in its regulatory filings, its history of
repurchasing its debt at distressed prices, and the deep discount
at which Chesapeake's debt currently trades. The downgrade of
Brazos Valley's CFR to Caa1 reflects the potential the WildHorse
notes might be included as part of any distressed exchange activity
Chesapeake may undertake.

Chesapeake's rating also reflects its high debt leverage, weak
asset coverage, the company's expected production decline resulting
from a materially reduced capital budget in 2020 and exposure to
natural gas price weakness as it continues to attempt to transition
to an oil-focused production mix. The company benefits from its
large positions in several major North American basins, providing
operating scale efficiencies, oil and gas investment optionality,
and the potential for asset sales to fund debt reduction. Long
term, Chesapeake's reserves orientation toward natural gas position
it favorably with regard to carbon transition, although the
company's efforts to become a larger oil producer will diminish
this advantage.

Chesapeake's senior notes are rated Caa2, one notch beneath the
CFR, reflecting the notes' unsecured position in the company's
capital structure relative to the $3 billion revolver, which has a
senior secured claim to the assets. The senior notes are unsecured
but are guaranteed by its operating subsidiaries (except for
Brazos) on a senior unsecured basis.

WildHorse's senior notes (assumed by Brazos) are rated Caa2, one
notch below Brazos' Caa1 CFR, reflecting the notes unsecured
position in Brazos' capital structure relative to the $1.3 billion
revolver, which has a senior secured claim to the assets.

Moody's views Chesapeake's liquidity as weak, reflected by its
SGL-4 rating, due to the potential for a covenant breach in the
next twelve months. Cash on hand at September 30, 2019 was $14
million, indicating a reliance on its credit facility to fund
ongoing outspending. Chesapeake had $1.44 billion of availability
under its revolver at the end of the third quarter. However, the
leverage covenant under the facility tightens by falling 0.25x per
quarter from 5.50x for the quarter ended September 30, 2019 to 4.0x
for the quarter ending March 31, 2021. The likelihood of reduced
cash flow due to lower drilling activity in 2020 raises the
possibility the company may not be able to meet its leverage
covenant throughout 2020. Although Chesapeake has the ability to
take actions that could prevent or forestall a covenant breach,
until such actions are taken Moody's views the company's liquidity
as constrained.

Chesapeake's and Brazos Valley's negative outlooks reflect the
potential that asset coverage could erode in a sustained low price
environment. Ratings at both entities could be downgraded if asset
coverage deteriorates further or interest coverage falls below
1.5x. Both entities' ratings could be upgraded if the risk of
distressed exchanges or other restructuring abates, either through
material debt reduction or recovery in the price of its notes to
levels approaching par. An upgrade of Chesapeake's ratings would
also likely hinge on the company's production returning to a growth
trajectory, and RCF/debt being above 15%.

Oklahoma City, OK-based Chesapeake Energy Corporation is a large
independent exploration and production (E&P) company operating in
several onshore US basins. The company's daily production averaged
478,000 boe/d in the quarter ended September 30, of which 69%
natural gas was natural gas.

Brazos Valley Longhorn, L.L.C. is a wholly-owned subsidiary of
Chesapeake and the successor by merger to WildHorse Resource
Development Corporation. Brazos' assets comprise 420,000 net acres
in the Eagle Ford Shale and Austin Chalk in East Texas.

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


COBRA PIPELINE: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------------
The Office of the U.S. Trustee on Nov. 18, 2019, disclosed in a
court filing that no official committee of unsecured creditors has
been appointed in the Chapter 11 case of Cobra Pipeline Co., Ltd.

                      About Cobra Pipeline

Cobra Pipeline Co., Ltd., is an Ohio-based intrastate natural gas
pipeline company.  The Debtor filed for relief under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Ohio Case No. 19-15961) on Sept.
25, 2019 in Cleveland, Ohio.  In the petition signed by Jessica
Carothers, general manager, the Debtor was estimated to have assets
of at least $50,000, and liabilities of between $10 million and $50
million as of the petition date.  Judge Arthur I. Harris oversees
the case.  Coffey Law LLC is the Debtor's counsel.


COWBOY PUMPING: Seeks to Hire Fellers Snider as Legal Counsel
-------------------------------------------------------------
Cowboy Pumping Unit Sales & Repair, LLC seeks authority from the
U.S. Bankruptcy Court for the Western District of Oklahoma to hire
Fellers, Snider, Blankenship, Bailey & Tippens, P.C. as its legal
counsel.

The firm will advise the Debtor of its powers and duties in the
continued operation of its business and will provide other legal
services in connection with its Chapter 11 case.

Stephen Moriarty, Esq., the firm's attorney who will be handling
the case, charges an hourly fee of $420.

The firm's attorneys do not have connection with creditors or any
other party adverse to the interest of the Debtor and its
bankruptcy estate, according to court filings.

The firm can be reached at:

     Stephen J. Moriarty, Esq.
     Fellers, Snider, Blankenship, Bailey & Tippens, P.C.
     100 N. Broadway, Suite 1700
     Oklahoma City, OK 73102
     Tel: (405) 232-0621
     Fax: (405) 232-9659
     Email: smoriarty@fellerssnider.com

                      About Cowboy Pumping Unit Sales & Repair

Cowboy Pumping Unit Sales & Repair, LLC disassembles, repairs,
moves or reassembles any pumping unit equipment.  It was created to
provide service to oil and gas operators that have pumping units in
Central and Northwest Oklahoma.

Cowboy Pumping Unit Sales & Repair filed a voluntary petition under
Chapter 11 of the Bankruptcy Code (Bankr. W.D. Okla. Case No.
19-14561) on Nov. 7, 2019. In the petition signed by Tom Holder,
vice-president, the Debtor estimated $50,000 in assets and $10
million to $50 million in liabilities. Stephen J. Moriarty, Esq.,
at Fellers, Snider, Blankenship, Bailey & Tippens, P.C., is the
Debtor's counsel.


CRYSTAL TRANSPORTATION: Unsecureds to Recover 12% in Plan
---------------------------------------------------------
According to its First Amended Disclosure Statement, Crystal
Transportation Services of NC, Inc., is proposing a Chapter 11 plan
that contemplates a reorganization of its operations and
obligations.  The Plan is based upon utilizing only one of the two
warehouse buildings under a revised lease arrangement with its
landlord.  The Debtor will pay creditors through its ongoing
operations and future cash flow.  The Debtor’s Plan does not
propose the sale or liquidation of any assets in order to fund the
Pl

The Debtor has total unsecured obligations of approximately
$3,100,000.  Included within this amount are the obligations from
Riley Life’s former secured lenders, totaling approximately
$938,700.00.  As further described in the Plan, in October 2018,
these obligations were restructured and became secured only by
liens on the stock in the Debtor held by Phillip Van Winkle and
Chris Bingham, who collectively own approximately 10% of the total
stock in the  Debtor.  These obligations are no longer secured by
assets of the Debtor, and therefore the Debtor has classified them
as unsecured creditors of the Debtor for purposes of its Plan.  Mr.
Bingham left the company in January 2019.  Included within the
unsecured creditors are numerous claims less than $2,000, totaling
approximately $17,122.  

The  Debtor has determined that in a chapter 7 liquidation,
unsecured claims would recover a distribution of less than 1
percnet. By contrast, the Debtor's chapter 11 Plan proposes a
distribution to Classes 12 and 13 which results in a distribution
of almost 12 percent, as the assumption of the SIF Whilden lease
and elimination of its unsecured claims decreases the pool of
unsecured creditors.

The Debtor has separately classified these claims into an
administrative convenience class in order to avoid the
administrative and accounting burden of processing monthly checks
for  minimal amounts to these creditors,  and is instead proposing
a one-time, lump sum payment to satisfy these claims.

The Debtor proposes to make payments under the Plan from income
earned from his continued business operations, cash on hand, and
funds received from the business entities in which the Debtor holds
a membership interest or equity interest.

A full-text copy of the First Amended Disclosure Statement dated
November 04, 2019, is available at https://tinyurl.com/yysfacf4
from PacerMonitor.com at no charge.

     Counsel for Debtor Crystal Transportation Services of
     NC, Inc.:

     TRAWICK H. STUBBS, JR.
     LAURIE B. BIGGS
     STUBBS & PERDUE, P.A.
     9208 Falls of Neuse Road, Suite 201
     Raleigh, North Carolina 27615
     Telephone: (919) 870-6258
     Telefax: (919) 870-6259
     tstubbs@stubbsperdue.com
     lbiggs@stubbsperdue.com

                 About Crystal Transportation

Based in Durham, North Carolina, Crystal Transportation Services of
NC, Inc., a/k/a Riley Life Industries, Inc., d/b/a Guardian
Logistics Solutions, d/b/a Logisticsville, d/b/a Riley Life
Logistics -- http://glsnc.com/-- is a logistics company offering
customized freight delivery, storage, and inventory management
services.  The Company is the surviving entity of a merger of Riley
Life Industries, Inc. and Crystal Coast Transportation of NC, Inc.
that occurred in May 2019.  It performs storage, order fulfillment,
logistics  services,  trucking, and home delivery on behalf of
major third-party retailers, primarily in the Eastern North
Carolina region, and a portion of Virginia.

The Company filed a voluntary Chapter 11 Petition (Bankr. E.D.N.C.
Case No. 19-02618) on June 6, 2019.  In the petition signed by
Brent C. Smith, president, the Debtor had total assets of $995,013
and total liabilities of $3,002,779.  The Debtor's counsel is
Trawick H. Stubbs, Jr., Esq., at Stubbs & Perdue, P.A., in New
Bern, North Carolina.


DEAN FOODS: Egan-Jones Lowers Senior Unsecured Ratings to D
-----------------------------------------------------------
Egan-Jones Ratings Company, on November 12, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Dean Foods Company to D from CCC. EJR also
downgraded the rating on commercial paper issued by the Company to
D from C.

Dean Foods Company is an American food and Beverage Company and the
largest dairy company in the United States. Headquartered in
Dallas, Texas, the company maintains plants and distributors in the
United States. Dean Foods has 66 manufacturing facilities in 32
U.S. states and distributes its products across all 50.


DISCOVERY INC: Egan-Jones Hikes Sr. Unsec. Ratings to BB+
---------------------------------------------------------
Egan-Jones Ratings Company, on November 15, 2019, upgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Discovery Incorporated to BB+ from BB.

Discovery, Incorporated is an American mass media company based in
New York City. Established in 1985, the company primarily operates
media properties serving members of "passionate" audiences.


E MECHANIC: Seeks to Hire Buddy D. Ford as Legal Counsel
--------------------------------------------------------
E Mechanic Plus Inc. seeks approval from the U.S. Bankruptcy Court
for the Middle District of Florida to hire Buddy D. Ford, P.A. as
its bankruptcy counsel.

The services that Buddy D. Ford will render include:

     a)  advising the Debtor of its powers and duties in the
continued operation of its business and management of its
property;

     b)  preparing and filing the Debtor's schedules of assets and
liabilities, statement of affairs, and other documents required by
the court;

     c)  representing the Debtor at the Section 341 creditors'
meeting;

     d)  advising the Debtor with respect to its irregularities in
complying with the United States Trustee's Operating Guidelines and
Reporting Requirements and with the rules of the court;

     e)  preparing motions, pleadings and other legal papers;

     h)  protecting the interest of the Debtor in all matters
pending before the court; and

     i)  representing the Debtor in negotiations with its creditors
in the preparation of a Chapter 11 plan.

The firm's attorneys and paralegals will be paid at these hourly
rates:

     Buddy D. Ford                      $425
     Senior Associate Attorneys         $375
     Junior Associate Attorneys         $300
     Senior Paralegal Services          $150
     Junior Paralegal Services          $100

Prior to the commencement of this case, the Debtor paid an advance
fee of $11,717, which included the filing fee of $1,717.

Buddy Ford, Esq., attests that his firm has no connection with the
Debtor, creditors or any other party.

The firm can be reached at:

         Buddy D. Ford, Esq.
         Buddy D. Ford, P.A.
         9301 West Hillsborough Avenue
         Tampa, FL 33615-3008
         Tel: (813) 877-4669
         Fax: (813) 877-5543
         Email: Buddy@tampaesq.com

                    About E Mechanic Plus Inc.

Based in Tampa, Fla., E Mechanic Plus Inc. filed a Chapter 11
petition (Bankr. M.D. Fla. Case No. 19-10891) on Nov. 15, 2019.  At
the time of the filing, the Debtor disclosed assets of between
$100,001 and $500,000  and liabilities of the same range.  Buddy D.
Ford, P.A. is the Debtor's legal counsel.


EARLY BIRD FOODS: Klestadt Winters Approved as Bankr. Counsel
-------------------------------------------------------------
Early Bird Foods & Co., sought and obtained permission from the
U.S. Bankruptcy Court for the Eastern District of New York to
employ Klestadt Winters Jureller Southard & Stevens, LLP as its
general bankruptcy counsel, nunc pro tunc to October 28, 2019.

The Debtor requires counsel to provide services:

     a.  Advise the Debtor with respect to its rights, powers and
duties as a debtor and debtor-in-possession in the continued
management and operation of its business and assets;

     b.  Attend meetings and negotiating with representatives of
creditors and other parties in interest and advising and consulting
on the conduct of the cases, including all of the legal and
administrative requirements of operating under Chapter 11;

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

     d.  Prepare on behalf of the Debtor such motions,
applications, answers, orders, reports, and papers necessary to the
administration of the estate;   

     e.  Assist the Debtor in its analysis and negotiations with
any third-party concerning matters related to the realization by
creditors of a recovery on claims and other means of realizing
value;  

     f.  Represent the Debtor at all hearings and other
proceedings;  

     g.  Assist the Debtor in its analysis of matters relating to
the legal rights and obligations of the Debtor with respect to
various agreements and applicable laws;

     h.  Review and analyze all applications, orders, statements,
and schedules filed with the Court and advise the Debtor as to
their propriety;  

     i.  Assist the Debtor in preparing pleadings and applications
as may be necessary in furtherance of the Debtor's interests and
objectives;  

     j.  Assist and advise the Debtor with regard to its
communications to the general creditor body regarding any proposed
Chapter 11 plan or other significant matters in this Chapter 11
Case;  

     k.  Assist the Debtor with respect to consideration by the
Court of any disclosure statement or plan prepared or filed
pursuant to Section 1125 or 1121 of the Bankruptcy Code and taking
any necessary action on behalf of the Debtor to obtain confirmation
of the plan;

     l.  Perform such other legal services as may be required
and/or deemed to be in the interests of the Debtor in accordance
with their powers and duties as set forth in the Bankruptcy Code.

Professionals at Klestadt Winters will be paid on an hourly basis
at these rates: from $525 to $750 per hour for partners; associates
bill from $275 to $475 per hour; and paralegals bill at $175 per
hour.

Tracy L. Klestadt, a partner at the firm, will lead the engagement.
He charges $750 per hour.

Prior to the Petition Date, on July 18, 2019, Klestadt Winters
received a retainer deposit of $15,000 from the Debtor.  The firm
made one draw on the Retainer prior to the Petition Date. As of the
filing of the employment application, $12,050 of the Retainer was
being held by the firm for payment of post-petition fees and
expenses after allowance by the Court.

Mr. Klestadt attests that Klestadt Winters does not have any
connection with the Debtor, its creditors, the United States
Trustee or any other party in interest, or their respective
attorneys.  The firm is "disinterested," as that term is defined in
Section 101(14), as modified by Section 1107(b), of the Bankruptcy
Code.   

                   About Early Bird Foods & Co.

Early Bird Foods & Co. filed a voluntary Chapter 11 petition
(Bankr. E.D.N.Y. Case No. 1-19-45669) on September 19, 2019, and is
represented by Tracy L. Klestadt, Esq. and Christopher J. Reilly,
Esq., at Klestadt Winters Jureller Southard & Stevens, LLP.  The
Debtor listed under $1 million in assets and liabilities.



EARLY BIRD FOODS: Prager Metis CPAs Approved as Accountants
-----------------------------------------------------------
Early Bird Foods & Co. sought and obtained permission from the U.S.
Bankruptcy Court for the Eastern District of New York to employ
Prager Metis CPAs, LLC as its accountant, nunc pro tunc to October
28, 2019.

The Debtor requires its accountant to:

     (a) participate in meetings, whether in-person or
telephonically, with the Debtor, and/or its counsel, as requested;


     (b) monitor the Debtor's activities regarding cash
expenditures and general business operations subsequent to the
filing of the petition under Chapter 11;

     (c) manage or assist with any investigating into the
pre-petition acts, conduct, transfers, liabilities and financial
condition of the Debtor, its management, or creditors, including
the operation of the Debtor's business;

     (d) assist in the preparation and/or reviewing the monthly
operating report and other schedules, as required by the local
rules of the Court, and the United States Trustee's guidelines;

     (e) assist the Debtor and/or its counsel in any litigation
proceedings against potential adversaries;

     (f) reconstruct, if necessary, the Debtor's books and records
prior to the Petition Date;

     (g) assist the Debtor with the preparation and filing of
outstanding federal, state and local tax returns;

     (h) perform any other services that the Debtor may deem
necessary in the firm's role as accountants to the Debtor, or that
may be requested by its counsel.

The Debtor has selected Prager Metis because it has extensive
experience representing trustees in bankruptcy cases, and in tax
and accounting matters.

The currently hourly rates changed by Prager for professional
services are:

     Partner/ Principal       $375.00-$475.00
     Manager                  $295.00
     Staff Accountant         $250.00

The firm estimates that its total costs associated with this case
will be approximately $15,000.

Brian Serotta, a principal at Prager Metis CPAs, LLC, attests that
Prager Metis does not have any connection with the Debtor, its
creditors, the United States Trustee or any other party in
interest, or their respective attorneys.

The firm may be reached at:

     Brian Serotta
     Prager Metis CPAs, LLC
     14 Penn Plaza, Suite 1800
     New York, NY 10122

                   About Early Bird Foods & Co.

Early Bird Foods & Co. filed a voluntary Chapter 11 petition
(Bankr. E.D.N.Y. Case No. 1-19-45669) on September 19, 2019, and is
represented by Tracy L. Klestadt, Esq. and Christopher J. Reilly,
Esq., at Klestadt Winters Jureller Southard & Stevens, LLP.  The
Debtor listed under $1 million in assets and liabilities.



ED3 CONSULTANTS: Seeks to Hire Knox McLaughlin as Legal Counsel
---------------------------------------------------------------
ED3 Consultants, Inc. seeks approval from the U.S. Bankruptcy Court
for the Western District of Pennsylvania to hire Knox McLaughlin
Gornall &Sennett, P.C. as its legal counsel.

The firm will provide these services in connection with the
Debtor's Chapter 11 case:  

     (a) provide legal advice regarding the Debtor's powers and
duties under Chapter 11;

     (b) prepare the Debtor's schedule of assets, schedule of
liabilities and statement of financial affairs;

     (c) prepare a Chapter 11 plan of reorganization and disclosure
statement;

     (d) initiate legal actions to avoid liens, object to claims,
enforce the automatic stay, recover preferences, and defend motions
and complaints against the Debtor; and

     (e) prepare motions for sale and other legal papers.

Knox McLaughlin is disinterested as that term is defined in the
Bankruptcy Code, according to court filings.

The firm can be reached through:

     Guy C. Fustine, Esq.
     Knox McLaughlin Gornall & Sennett, P.C.
     120 West Tenth Street
     Erie, PA 16501
     Phone: (814) 459-2800
     Fax: (814) 453-4530
     Email: gfustine@kmgslaw.com

                     About ED3 Consultants, Inc.

Based in Canonsburg, Pa., ED3 Consultants Inc. is a small
woman-owned business staffed with engineering, architectural and
technical specialists.

ED3 Consultants filed a voluntary petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No. 19-24455) on
Nov. 14, 2019.  The petition was signed by Denise L. Palmer,
president. At the time of filing, the Debtor estimated $500,001 to
$1 million in assets and $1,000,001 to $10 million in liabilities.
Guy C. Fustine, Esq., at Knox McLaughlin Gornall & Sennett, P.C. is
the Debtor's counsel.



ELEVATED ANALYTICS: Dec. 9 Plan & Disclosures Hearing Set
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of Utah convened a
hearing to consider the motion to proceed on the timeline and
conditional approval of Disclosure Statement filed by debtor
Elevated Analytics Holdings, LLC, on Oct. 25, 2019.  

On Nov. 5, 2019, Judge Kevin R. Anderson conditionally approved the
disclosure statement and established the following dates and
deadlines:

    * Dec. 4, 2019, is the deadline to submits ballots voting in
favor of or against the Plan.

    * Dec. 6, 2019, is the deadline to submit objections to final
approval of the Disclosure Statement or confirmation of the Plan.

    * Dec. 9, 2019, at 10:00 a.m. is the hearing to consider final
approval of the Disclosure Statement and confirmation of the First
Amended Plan to be held in  Courtroom No. 376 of the Frank E. Moss
United States Courthouse, 350 South Main St., Salt Lake City,
Utah.

The Debtor is represented by:

         T. Edward Cundick, Esq.
         CLYDE SNOW & SESSIONS
         One Utah Center
         201 S. Main Street, Ste. 1300
         Salt Lake City, UT 84111
         Tel: (801) 322-2516
         Fax: (801) 521-6280
         E-mail: tec@clydesnow.com

               About Elevated Analytics Holdings

Elevated Analytics Holdings, LLC, provides timely and comprehensive
computational analysis for customers in the CPI/HPI. Formed in
2018, the Company previously operated as either of two now
wholly-owned subsidiaries: Elevated Analytics LLC and Air Stations
LLC.

Elevated Analytics Holdings, based in Provo, UT, filed a Chapter 11
petition (Bankr. D. Utah Case No. 19-20541) on Jan. 30, 2019.  In
the petition signed by Patrick B. Keegan, president, the Debtor was
estimated to have $1 million to $10 million in both assets and
liabilities.

The Hon. Kevin R. Anderson oversees the case.

T. Edward Cundick, Esq., at Prince Yeates & Geldzahler, serves as
bankruptcy counsel to the Debtor.


ELGOT SALES: Seeks to Hire Sussman Law Firm as Legal Counsel
------------------------------------------------------------
Elgot Sales Corp. and Elgot Kitchen and Sales LLC seek approval
from the U.S. Bankruptcy Court for the Southern District of New
York to hire The Law Offices of Jeremy S. Sussman as their
counsel.

The firm will provide these services in connection with the
Debtors' Chapter 11 cases:  

     a. advise the Debtors of their rights and duties under the
Bankruptcy Code;

     b. prepare and file schedules, statements of financial affairs
and declarations;

     c. assist the Debtors in the preparation and filing of their
monthly operating reports and help the Debtors meet their other
administrative obligations;

     d. represent the Debtors at the initial case conference,
initial debtor meeting and Section 341 meeting of creditors;

     e. represent the Debtors at hearings, status conferences and
mediation sessions;

     f. prosecute avoidance actions and other adversary proceedings
on behalf of the Debtors' estates;

     g. assist the Debtors in negotiating settlements with
creditors; and

     h. prepare disclosure statement and Chapter 11 plan, and
assist in the solicitation of acceptances for the plan.

The firm's hourly rates are:

     Jeremy S. Sussman      $350
     Associates             $250 - $325
     Legal Assistants       $100  

Jeremy Sussman, Esq., at Sussman, attests that the firm does not
represent any interest adverse to the Debtors' estates and is
"disinterested" as that term is defined in Section 101 of the
Bankruptcy Code.

The firm can be reached through:

     Jeremy S. Sussman, Esq.
     The Law Offices of Jeremy S. Sussman
     225 Broadway, Suite 3800
     New York, NY 10007
     Tel: 646-322-8373
     Email: sussman@sussman-legal.com

                 About Elgot Sales Corporation

Elgot Sales Corporation specializes in the design and installation
of kitchens and bathrooms, and in the sales and installation of
major kitchen appliances and air conditioning systems.

Elgot Sales and its affiliate Elgot Kitchen and Sales LLC filed
voluntary petitions for relief under Chapter 11 of the Bankruptcy
Code (Bankr. S.D.N.Y. Lead Case No. 19-13589) on Nov. 8, 2019. The
petitions were signed by Ellen Elias, co-president of Elgot Sales,
and managing member of Elgot Kitchen.

At the time of filing, Elgot Sales disclosed $185,007 in assets and
$1,009,615 in liabilities.  Elgot Kitchen disclosed assets of
between $100,000 and $500,000 and liabilities of the same range.

Jeremy S. Sussman, Esq., at the Law Office of Jeremy S. Sussman
represents the Debtors as counsel.


ENDICOTT MEATS: Seeks to Hire Reich Reich as Legal Counsel
----------------------------------------------------------
Endicott Meats, Inc. seeks authority from the U.S. Bankruptcy Court
for the Southern District of New York to hire Reich Reich & Reich,
P.C. as its legal counsel.

The firm will provide these services in connection with the
Debtor's Chapter 11 case:

     a. advise the Debtor of its powers and duties in the
management of its property;

     b. negotiate a plan of liquidation with creditors; and

     c. prepare legal papers and appear before the bankruptcy
court.

The hourly rates for the firm's attorneys range from $300 to $500.
Legal assistants charge $150 per hour.

Reich received a pre-bankruptcy retainer of $6,966 from the Debtor.


The firm and its attorneys do not represent any interest adverse to
the Debtor and its bankruptcy estate, according to court filings.

The firm can be reached through:

     Nicholas A. Pasalides, Esq.
     Reich Reich & Reich, P.C.
     235 Main Street, Suite 450
     White Plains, NY 10601
     Tel: 914-949-2126
     Fax: 914-949-1604
     Email: reichlaw@reichpc.com

                         About Endicott Meats, Inc.

Endicott Meats, Inc. is a meat wholesaler located at Hunts Point
Cooperative Market, Unit B-23 Bronx, N.Y..  It offers a large
selection of veal, beef, lamb, pork and poultry products.

Endicott Meats filed a voluntary petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 19-23966) on
Nov. 7, 2019. In the petition signed by Frederic Braunshweiger,
president, the Debtor disclosed $202,472 in assets and $1,202,425
in liabilities.

Nicholas A. Pasalides, Esq., at Reich Reich & Reich, P.C.,
represents the Debtor as counsel.


ENDICOTT REALTY: Seeks to Hire Reich Reich as Legal Counsel
-----------------------------------------------------------
Endicott Realty Corp. seeks authority from the U.S. Bankruptcy
Court for the Southern District of New York to hire Reich Reich &
Reich, P.C. as its legal counsel.

The firm will provide these services in connection with the
Debtor's Chapter 11 case:

     a. advise the Debtor of its powers and duties in the
management of its property;

     b. negotiate a plan of liquidation with creditors; and

     c. prepare legal papers and appear before the bankruptcy
court.

The hourly rates for the firm's attorneys range from $300 to $500.
Legal assistants charge $150 per hour.

Reich received a pre-bankruptcy retainer of $6,966 from the Debtor.


The firm and its attorneys do not represent any interest adverse to
the Debtor and its bankruptcy estate, according to court filings.

The firm can be reached through:

     Nicholas A. Pasalides, Esq.
     Reich Reich & Reich, P.C.
     235 Main Street, Suite 450
     White Plains, NY 10601
     Tel: 914-949-2126
     Fax: 914-949-1604
     Email: reichlaw@reichpc.com

                         About Endicott Realty Corp.

Based in White Plains, N.Y., Endicott Realty Corp. filed a
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code (Bankr. S.D.N.Y. Case No. 19-23968) on Nov. 7, 2019. At the
time of the filing, the Debtor had estimated assets of between
$100,001 and $500,000 and liabilities of between $500,001 and $1
million.  

The case is assigned to Judge Robert D. Drain.

Nicholas A. Pasalides, Esq. at Reich Reich & Reich, P.C. represents
the Debtor as counsel.


EPIC COMPANIES: Gets Court Okay to Expand Keen-Summit Employment
----------------------------------------------------------------
Epic Companies, LLC obtained an order from the U.S. Bankruptcy
Court for the Southern District of Texas approving its application
to expand the scope of Keen-Summit Capital Partners LLC's
employment.

The court order authorized the Debtor's real estate advisor to
market and sell its real property located at 3019 W. Admiral Doyle
Drive, New Iberia, La.

Keen-Summit will receive a $15,000 advisory fee and 6 percent of
the gross proceeds from the transaction whether such transaction is
completed individually, as part of a package, as part of a sale of
all or a portion of the Debtor's business or as part of a Chapter
11 reorganization plan.

                       About Epic Companies

Headquartered in Houston, Epic Companies, LLC, is a full-service
provider to the global decommissioning, installation and
maintenance markets.  Its services include heavy lift, diving and
marine, specialty cutting and well plugging and abandonment
services. It has limited ongoing operations and is owned 50 percent
by Orinoco and 50 percent by Oakridge Natural Resources, LLC, and
Oakridge Energy Partners LLC.

Epic Companies and six affiliates sought Chapter 11 protection
(Bankr. S.D. Tex. Lead Case No. 19-34752) on Aug. 26, 2019.  At the
time of the filing, Epic Companies had estimated assets of between
$10 million and $50 million and liabilities of between $100 million
and $500 million.

The Debtors tapped Porter Hedges LLP as bankruptcy counsel; S3
Advisors, LLC as restructuring advisor; Epiq Corporate
Restructuring, LLC as claims agent; and Lugenbuhl Wheaton Peck
Rankin & Hubbard as special counsel.

Henry Hobbs Jr., acting U.S. trustee for Region 7, appointed a
committee of unsecured creditors on Sept. 6, 2019.  The committee
is represented by Munsch Hardt Kopf & Harr, P.C.


EXELA INTERMEDIATE: Moody's Lowers CFR to Caa3, Outlook Negative
----------------------------------------------------------------
Moody's Investors Service downgraded Exela Intermediate LLC's
ratings, including its Corporate Family Rating to Caa3 from Caa1,
Probability of Default Rating to Caa3-PD from Caa1-PD, and the
instrument ratings on the company's senior secured first lien
credit facilities and senior secured first lien notes to Caa3 from
Caa1. Exela's Speculative Grade Liquidity Rating is unchanged at
SGL-4. The outlook remains negative. The rating actions follow
Exela's weak year-to-date and third quarter operating results.

The downgrade to Caa3 reflects deterioration in Exela's operating
performance and Moody's view that the investments needed to
continue the transition to business process automation (BPA)
services will sustain negative free cash flow, pressure on earnings
and weak liquidity in the next 12-18 months. Ongoing industry and
competitive pressures will make it difficult for Exela to reduce
restructuring and business optimization expenses and to improve
EBITDA to a level that is supportive of its current capital
structure. High leverage and negative free cash flow create
elevated risk of a balance sheet restructuring including a
distressed exchange.

For nine months ending September 30, 2019, Exela's optimization and
restructuring charges increased to $59 million from $35 million for
the same period last year, and have been a consistent drag on cash
flow from operations. Despite substantial restructuring spend, the
company has been unable to stabilize free cash flow declines and
gain much needed momentum in profitable growth since the close of
the Novitex merger in July 2017. Exela reported a 1.9% decline in
3Q 2019 revenue on a constant revenue basis from 3Q 2018 and
lowered its 2019 full-year revenue and 2019 EBITDA guidance by
roughly 3% and 12%, respectively, citing slower ramp on new
projects, longer than expected sales cycles and unpredictable
postage revenue. Exela also took a $99.7 million non-cash goodwill
and trade-name impairment charge, reflecting lower anticipated
future earnings from its core business.

In the third quarter 2019, Exela initiated a two-year debt
reduction and liquidity improvement initiative aiming to increase
liquidity through asset sales to approximately $125 to $150 million
from $50 million currently. The company's focus on improving
liquidity is credit positive because it will provide additional
resources for debt reduction and investment. But the plan will take
up to two years to execute and the amount of earnings disposed is
not clear, and the plan does not fully address the fundamental
competitive challenge of turning around operations that have been
demonstrating weak organic growth rates, declining profitability
and negative free cash flows. Moody's projects EBITDA of under $200
million after deducting restructuring and optimization charges for
2020, which will be insufficient to cover the company's sizeable
fixed charges including $138 million of cash interest and $40
million of capital spending needs.

Moody's took the following rating actions:

Downgrades:

Issuer: Exela Intermediate LLC

  Corporate Family Rating, Downgraded to Caa3 from Caa1

  Probability of Default Rating, Downgraded to Caa3-PD from
  Caa1-PD

  Gtd Senior Secured First Lien Revolving Credit Facility,
  Downgraded to Caa3 (LGD3) from Caa1 (LGD3)

  Gtd Senior Secured First Lien Term Loan, Downgraded to Caa3
  (LGD3) from Caa1 (LGD3)

  Gtd Senior Secured First Lien Notes, Downgraded to Caa3 (LGD3)
  from Caa1 (LGD3)

Outlook Actions:

Issuer: Exela Intermediate LLC

  Outlook, Remains Negative

RATINGS RATIONALE

Exela's Caa3 CFR reflects the company's limited scale in an
intensely competitive industry, its persistently poor earnings
quality, high leverage and weak liquidity. Exela is limited in
scale relative to many of its peers in the business process
outsourcing industry and faces continuous pricing pressure in its
core business. The company is attempting to transition more into
providing digitally-enabled BPA services, where it faces fierce
competition from larger, better-capitalized peers. The acceleration
of the company's organic revenue declines and growing restructuring
and optimization charges reflect continued operating pressures,
which the company will be challenged to address given its negative
free cash flow. Moody's also expects poor earnings quality to
persist with restructuring and optimization charges necessary to
transition to BPA. Liquidity will therefore remain weak while
leverage will remain high, rendering the capital structure
increasingly untenable and elevating the risk of default.
Proactively and cost-effectively addressing the expiration of the
revolver in 2022 and the term loan and notes in 2023 will be
difficult without an operational turnaround, and the step up in
required term loan amortization to $20 million in 2020 will put
additional strain on liquidity. Nevertheless, Exela still garners
some ratings support from the contracted nature of its revenue
base, diverse outsourcing capabilities, and ongoing shift by
clients to outsource certain processes to reduce costs and increase
operating flexibility.

Governance risks Moody's considers in Exela's credit profile
include an aggressive financial policy characterized by high
financial leverage and material concentration in ownership by
HandsOn3 LLC and Apollo Capital Management LP, which together hold
70% of the company's publicly traded stock.

The negative outlook reflects Moody's concerns that the risk of
default could increase further or recovery prospects deteriorate if
the company is unable to demonstrate progress turning around the
business and improving earnings and free cash flow over the course
of 2020.

The rating could be downgraded if earnings or liquidity continue to
deteriorate, if there is an increasing likelihood of a preemptive
balance sheet restructuring, such as a distressed exchange, or a
deterioration in creditors' recovery prospects.

The ratings could be upgraded should Exela is able to profitably
grow revenue, improve earnings quality, generate positive free cash
flow and reduce leverage.

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


FAME ASSISTANCE: Judges Permits Use of Cash Collateral
------------------------------------------------------
Bankruptcy Judge Neil W. Bason authorized FAME Assistance
Corporation to use cash collateral pursuant to the Stipulation and
the Court's tentative ruling.

In addition to the postpetition security interests that are
automatically provided pursuant to 11 U.S.C. 552, and subject to
any more comprehensive protection that may be included in the
motion or related papers, the Debtor will provide at least the
following protection to any creditor with a security interest in
the subject property:

     (A) The Debtor is directed to maintain insurance in a dollar
amount at least equal to Debtor's good faith estimate of the value
of such creditor's interest in the collateral, and such insurance
will name such creditor as an additional insured. The Debtor is
also directed to remain current on payments for such insurance.

     (B) The Debtor is directed to remain current on payments on
account of postpetition real estate taxes (to the extent that real
estate is part of the collateral).

     (C) The Debtor is directed to provide, upon such creditor's
reasonable request, periodic accounting of the foregoing insurance
and tax obligations and payment, as well as postpetition proceeds,
products, offspring, or profits from the collateral, including
gross revenues and expenses and a calculation of net revenues,
including any rents and any fees, charges, accounts, or other
payments for the use or occupancy of rooms and other public
facilities in lodging properties. The Debtor is directed to provide
appropriate documentation of those accounting and access for
purposes of inspection or appraisal.

                 About FAME Assistance Corporation

FAME Assistance Corporation, a nonprofit corporation, was created
in 1992 to serve as a platform for serving the community and
enriching the lives of residents of Los Angeles County. Today, FAME
serves over 1,000,000 people annually through its diverse portfolio
of programs, services and initiatives, including the Low Income
Fare is Easy Program, The Job Access and Reverse Commute Program,
UCLA-Smokefree Air for Everyone, and Training Resource Center.

FAME Assistance Corporation, a Non Profit Corp., based in Los
Angeles, CA, filed a Chapter 11 petition (Bankr. C.D. Cal. Case No.
19-18900) on July 31, 2019.  In the petition signed by Edgar E.
Boyd, president and CEO, the Debtor was estimated to have $10
million to $50 million in assets and $1 million to $10 million in
liabilities.  The Hon. Neil W. Bason oversees the case.  Peter T.
Steinberg, Esq., at Steinberg Nutter & Brent, Law Corporation,
serves as bankruptcy counsel to the Debtor.



FIREBALL REALTY: Allowed Access to BHFCC Account Until Jan. 31
--------------------------------------------------------------
Judge Michael A. Fagone of the U.S. Bankruptcy Court for the
District of New Hampshire authorized Fireball Realty, LLC, to use
the Bar Harbor/Flare Cash Collateral through Jan. 31, 2020.

A further hearing on the Debtor's further use of cash collateral
will be held on Jan. 30, 2020 at 10:00 a.m.

The Debtor may use and expend the proceeds of cash collateral to
pay the costs and expenses incurred by the Debtor in the ordinary
course of business as shown by the Cash Collateral Budget and with
the Order.

The Debtor will fund the deficit by borrowings from Mr. Sargent,
Sr., but only to the maximum amount of $10,000. The Debtor may also
pay to Edmond J. Ford, as escrow agent for the Secured Parties, to
be held pending resolution of disputes between them, the adequate
protection payments as shown on the Budget.

The Secured Parties are granted first security interest in the
BHFCC Account. Such lien will extend no further than, and will have
the same priority as the Secured Parties would have had were the
BHFCC so segregated, a proper demand deposit control agreement
executed and no bankruptcy case nor court order were filed or
entered.

As further adequate protection for the use of the BHFCC the Debtor
in Possession will:

      A. Pay the adequate protection payments in the amounts and
when shown on the Budget;

      B. Pay the property insurance invoice and when shown on the
Budget;

      C. Provide to Secured Parties, and maintain current,
certificates of property and casualty insurance in amounts
sufficient to protect Secured Parties from loss and in any event
not less than the lesser of: (i) the aggregate amount owed to the
Secured Parties; or (ii) the reasonable replacement value of each
property and all of them in aggregate; such certificates of
insurance shall name Secured Parties as loss payees and will
provide that the insurance represented thereby may not be cancelled
without at least fourteen days' notice to Secured Parties;

      D. Pay all water, sewer, and property taxes arising with
respect to the properties, and in any event in the amounts and when
shown on the Budget;

      E. Pay the electric, trash and fuel expenses with respect to
the properties in the full amount accrued or accruing but in any
event in the amounts and when shown on the Budget.

      F. Use and expend the BHFCC for no purpose other than those
described in the Budget;

      G. Deliver to Secured Parties on or before the third business
day after the conclusion of each week the following reports: (i)
rents collected by apartment, tenant name and property; (ii)
expenditures made; (iii) security deposits held or collected; (iv)
copies of online statements from the depositary bank showing the
activity in the account for the prior two weeks.

A copy of the Order is available for free at
https://tinyurl.com/ygmjho3g from Pacermonitor.com

                    About Fireball Realty

Fireball Realty LLC, a real estate agency in Manchester, New
Hampshire, sought Chapter 11 protection (Bankr. D.N.H. Case No.
19-10922) on June 28, 2019.  In the petition signed by Charles R.
Sargent, Jr., member, the Debtor was estimated to have assets and
liabilities in the range of $1 million to $10 million.  The Debtor
tapped William S. Gannon, Esq., at William S. Gannon PLLC, as
counsel.



FIREBALL REALTY: May Use Primary Cash Collateral Through Jan. 31
----------------------------------------------------------------
Judge Michael A. Fagone of the U.S. Bankruptcy Court for the
District of New Hampshire authorized Fireball Realty, LLC to use
cash collateral to pay the costs and expenses incurred in the
ordinary course of its business through Jan. 31, 2020.

A further hearing on the Debtor's further use of cash collateral
will be held on Jan. 30, 2020 at 10:00 a.m.

The Debtor may continue to collect Primary Cash Collateral
generated from the rents currently being received from the South
Willow Street property ($4,000) -- the People Ready Cash Collateral
-- pending further order of the Court. The Debtor may use the
People Ready Cash Collateral and any additional Cash Collateral
derived from the Primary Properties for and only for the limited
purposes described in the Budget and in accordance with the Order.


To prevent the disruption of the revenue stream, the People Ready
Cash Collateral will be collected by Primary and distributed during
the Use Period as follows:

      (a) $1,929.71 to Primary as an adequate protection payment
for South Willow Street;

      (b) $862.86 to Primary as an adequate protection payment for
Woodland Drive; and

      (c) $1,027.43 to be disbursed by Primary toward real estate
taxes due on the Primary Properties as they become due.

Primary Bank is granted first security interest in the Additional
Cash Collateral. Such lien granted to Primary in the Additional
Cash Collateral Account will extend no further than, and will have
the same priority as Primary would have had were the Additional
Cash Collateral Account so segregated, a proper demand deposit
control agreement executed and no bankruptcy case nor court order
were filed or entered.

As further adequate protection for the use of the Additional Cash
Collateral, the Debtor will:

      A. Pay the adequate protection payments in the amounts and
when shown on the Budget (other than those to be paid by Primary,
including the adequate protection payments and real estate taxes to
the extent of the money received and held for that purpose with the
Debtor remaining liable for any deficiency);

      B. Pay the property insurance invoice at least as and when
shown on the Budget;

      C. Maintain current and provide to Primary certificates of
property and casualty insurance in amounts not less than the lesser
of: (i) the aggregate amount owed to Primary; or (ii) the
reasonable replacement value of each property and all of them in
aggregate; or (iii) the current fair market value of each property.
Such certificates of insurance will name Primary and the junior
Record Lienholders as loss payee in the order of their priority
under applicable state law and will provide that the insurance
represented thereby may not be cancelled without at least fourteen
days notice to Primary;

      D. Pay all water and sewer bills arising with respect to the
Primary Properties, and in any event the amounts and when shown on
the Budget;

      E. Pay the electric, trash and fuel expenses with respect to
the Primary Properties the amounts provided for in the Budget;

      F. Use and expend the Additional Cash Collateral for no
purpose other than those described in the Budget; and

      G. Timely file its monthly operating reports which will
include: (i) rents collected by apartment, tenant name and
property; (ii) expenditures made by property; (iii) security
deposits held or collected by tenant and property; (iv) copies of
online statements from the depository bank showing the activity in
the account.

A copy of the Order is available for free at
https://tinyurl.com/yf385h7u from Pacermonitor.com

                     About Fireball Realty

Fireball Realty LLC, a real estate agency in Manchester, New
Hampshire, sought Chapter 11 protection (Bankr. D.N.H. Case No.
19-10922) on June 28, 2019.  In the petition signed by Charles R.
Sargent, Jr., member, the Debtor was estimated to have assets and
liabilities in the range of $1 million to $10 million.  The Debtor
tapped William S. Gannon, Esq., at William S. Gannon PLLC, as
counsel.


FIREBALL REALTY: May Use Provident Cash Collateral Until Jan. 31
----------------------------------------------------------------
Judge Michael A. Fagone of the U.S. Bankruptcy Court for the
District of New Hampshire authorized Fireball Realty, LLC, to use
the rental revenues from the Provident Bank mortgaged properties
through Jan. 31, 2020.

A further hearing on the Debtor's further use of cash collateral
will be held on Jan. 30, 2020 at 10:00 a.m.

The Debtor may use and expend the proceeds of cash collateral to
pay the costs and expenses incurred by the Debtor in the ordinary
course of business as shown by the Cash Collateral Budget and with
the Order.

The Debtor will deliver copies of all bank statements or any
communications from Eastern Bank with respect to the Provident
Rents Account to Provident Bank immediately upon receipt.

Provident will not contest the entry of an Order granting Debtor
permission to enter into a working capital loan with Charles
Sargent, Sr. in an amount of not more than $10,000 as long as the
interest rate on such loan does not exceed the so-called New
Hampshire judgment interest rate, plus 1%, and such loan is made on
an unsecured basis with the benefit of an administrative claim and
does not impair any Provident-asserted secured claim.

Provident Bank is granted first security interest in the Provident
Rents Account. Such lien  granted to Provident Bank in the
Provident Rents Account will extend no further than, and will have
the same priority as Provident Bank would have had were the
Provident Rents so segregated, a proper demand deposit control
agreement executed and no bankruptcy case nor court order were
filed or entered.

As further adequate protection for the use of  the Provident Rents,
the Debtor in Possession will:

      A. Pay to Provident Bank the adequate protection payments in
the amounts and when shown on the Budget on the first day of each
calendar month;  

      B. Pay the property insurance premiums on the Provident
Properties to the extent shown on the Budget;

      C. Provide to Provident Bank and maintain current,
certificates of property and casualty insurance in amounts not less
than the reasonable replacement value of the Provident Properties,
with such certificates of insurance naming Provident Bank as loss
payee, and providing that such coverage may not be cancelled
without at least fourteen days' notice to Provident Bank;

      D. Pay water, sewer, and property taxes arising with respect
to the Provident Properties in the amounts shown on shown on the
Budget;

      E. Pay the electric, trash and fuel expenses with respect to
the Provident Properties the amounts shown on the Budget;

      F. Use and expend the Provident Rents for no purpose other
than those described in the Budget; and

      G. Timely file its monthly operating reports and include in
those reports a specification of: (i) rents collected by unit and
tenant name with respect to each Provident Property; (ii)
expenditures made with respect to each Provident Property; (iii)
security deposits held or collected by Debtor with respect to each
Provident Property and tenant; (iv) copies of online statements
from Eastern Bank showing the activity in the Provident Rents
Account for the prior two weeks.

A copy of the Order is available for free at
https://tinyurl.com/yh4xb7om from PacerMonitor.com

                    About Fireball Realty

Fireball Realty LLC, a real estate agency in Manchester, New
Hampshire, sought Chapter 11 protection (Bankr. D.N.H. Case No.
19-10922) on June 28, 2019. In the petition signed by Charles R.
Sargent, Jr., member, the Debtor was estimated to have assets and
liabilities in the range of $1 million to $10 million.  The Debtor
tapped William S. Gannon, Esq., at William S. Gannon PLLC, as
counsel.


FIRED UP: Unsecured Creditors to Be Paid by 2028
------------------------------------------------
Fired Up Inc. filed an Amended Plan of Reorganization and
Disclosure Statement.

Other than a relatively small amount of cash, the Debtor has four
assets which will generate income to repay creditors: (i) a secured
note payable by Bluestone Hospitality, LLC, to the Debtor in the
original amount of $2,004,000 with a current balance of $1,124,665
as of Sept. 20, 2019; (ii) a secured note payable by Bluestone
Franchising Company LLC, to the Debtor in the principal amount of
$1,962,000, with a current balance of $1,627,420 as of Sept. 20,
2019; (iii) an unsecured note payable by Taft35, LLC, in the
original princopal amount of $30,000, with a current balance of
$15,247; and (iv) a Certificate of Deposit in the original amount
of $250,000, now valued at $259,365, which is pledged on a letter
of credit to Traveler's Insurance which has not been called.  If
all payments under the Notes are made, the plan agent will have
approximately $3.25 million less expenses to distribute to
creditors.

The plan agent will pay creditors pursuant to the priority of
classes on a monthly basis from cash on hand less an expense
reserve, beginning on the 25th day of the Effective Date.
Creditors with allowed claims in each class will be paid in pari
passu with other creditors with allowed claims in the same class.

Holders of general unsecured claims amounting to $2,147,547.78
(Class 9) will receive payment pro rata based on the amount of
their allowed claims beginning after all payments have been made to
creditors in administrative claimants, priority claimants, and
secured creditors in Classes 1 through 5 and will continue until
they are paid in full or its assets are fully monetized, and
distributed which is currently estimated to be December of 2028.

A full-text copy of the Amended Plan of Reorganization and
Disclosure Statement dated Nov. 4, 2019, is available at
https://tinyurl.com/y36p2jp5 from PacerMonitor.com at no charge.

Attorneys for the Debtor:

     Barbara M. Barron
     Stephen W. Sather
     BARRON & NEWBURGER, P.C.
     7320 North MoPac Blvd, Suite 400
     Austin, Texas 78731
     (512) 476-9103
     (512) 476-9253 (Facsimile)

                       About Fired Up Inc.

Fired Up, Inc., is the Austin, Texas-based owner and operator of
the Johnny Carino's Italian restaurant chain.  As of the bankruptcy
filing, Fired Up had 2,900 employees and owned and operated 46
company-owned stores known as Johnny Carino's Italian in seven
states (Texas, Arkansas, Colorado, Louisiana, Idaho, Kansas and
Missouri) and 61 franchised or licensed locations in 17 states and
four other countries (Bahrain, Dubai, Egypt and Kuwait).

Fired Up sought Chapter 11 bankruptcy protection (Bankr. W.D. Tex.
Case No. 14-10447) on March 27, 2014, in Austin, Texas.  The Debtor
disclosed $10,360,877 in assets and $36,139,375 in liabilities.

Barbara M. Barron, Esq. and Lynn Saarinen, Esq. at Barron &
Newburger, P.C., in Austin, serve as the Debtor's counsel.

The U.S. Trustee appointed a seven-member Official Committee of
Unsecured Creditors.  The Committee tapped Pachulski Stang Ziehl &
Jones LLP as its counsel, and FTI Consulting, Inc., as its
financial advisor.


FIRSTCASH INC: Moody's Hikes CFR to Ba1 & Alters Outlook to Stable
------------------------------------------------------------------
Moody's Investors Service upgraded FirstCash, Inc.'s senior
unsecured debt and corporate family ratings to Ba1 from Ba2. The
rating outlook was revised to stable from positive.

Moody's also has withdrawn the outlooks on FirstCash's long-term
corporate family and senior unsecured ratings for its own business
reasons.

Upgrades:

Issuer: FirstCash Inc.

Corporate Family Rating, Upgraded to Ba1 from Ba2

Senior Unsecured Regular Bond/Debenture, Upgraded
  to Ba1 from Ba2

Outlook Actions:

Issuer: FirstCash Inc.

Outlook, Revised To Stable From Positive

RATINGS RATIONALE

The ratings' upgrade reflects FirstCash's status as a significant
player in the highly fragmented pawn industry in the US and Mexico,
as well as its stable and strong financial fundamentals. Net income
to average managed assets was 5.0% for the second quarter of 2019
and has been consistently strong, which Moody's expects to continue
over the next 12-18 months. The earnings primarily reflect the
strong financial performance of its pawn lending and retail
merchandise business. In addition, FirstCash has a solid capital
level, with tangible common equity to tangible managed assets (TCE
to TMA) of 21.7 % as of 30 June 2019; Moody's expects the company
to maintain strong capitalization over the next 12-18 months.

The ratings' upgrade also reflects the benefits for creditors
resulting from the company's geographic diversification, as it
continues to expand its operations in Latin America. Although,
Moody's views geographic expansion for the company overall as
credit positive, it also poses risks that the company's growth in
the Latin American market may be too rapid. This risk is partly
mitigated by First Cash's successful track record of opening,
acquiring and integrating pawn stores while maintaining moderate
leverage and solid profitability.

The stable outlook reflects Moody's expectation that the company's
leverage will be conservatively managed, with tangible common
equity / tangible managed assets remaining above 20%, and the
company will maintain solid profitability as it continues to grow,
over the next 12-18 months.

Overall, Moody's considers pawn lenders as facing moderate social
and governance risks.

WHAT COULD CHANGE THE RATINGS UP/DOWN

The ratings could be upgrade if the company maintains a strong
tangible equity position as well as solid profitability, and
notably enhances its liquidity profile.

The ratings could be downgraded if the company experiences a
significant reduction in profitability, and/or increases leverage,
resulting in a significant deterioration in interest coverage.

The principal methodology used in these ratings was Finance
Companies published in December 2018.


FIZZ & BUBBLE: U.S. Trustee Forms 6-Member Committee
----------------------------------------------------
The Office of the U.S. Trustee on Nov. 18, 2019, appointed six
creditors to serve on the official committee of unsecured creditors
in the Chapter 11 case of Fizz & Bubble, LLC.
  
The committee members are:

     (1) Oswego Financial Services
         Glenn J. Smith
         4091 Coltsfoot Lane  
         Lake Oswego, OR 97035
         Phone: 503-697-5907
         Fax: 503-697-5925
         Email: glennjsmith@gmail.com

     (2) Mike Vanier
         7650 Beveland Street, Suite 170
         Portland, Oregon 97223
         Phone: 503-796-2973
         Email: mvanier@omep.org
   
     (3) Bruce Wood
         510 SW 5th Ave., Suite 300
         Portland, Oregon 97204
         Phone: 503-310-9414  
         Email: bruce.wood@frednw.com

     (4) Lloyd R. DuBois
         0932 SW Palatine Hill Rd.
         Portland, Oregon 97219
         Phone: 503-320-0092
         Email: lloydr.dubois@gmail.com

     (5) Erik Piper
         4032 SE Ogden
         Portland, OR 97202
         Phone: 503-914-9500
         Email: erikpiper72@gmail.com

     (6) Diane M. Humke
         32272 Apple Valley Rd.
         Scappoose, OR 97056
         Phone: 503-543-8579
         Email: dhumke@gmail.com
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                       About Fizz & Bubble

Fizz & Bubble, LLC -- https://fizzandbubble.com/ -- is a toiletries
wholesaler based in Wilsonville, Ore., offering an array of
luxurious bath and shower treats.

Fizz & Bubble sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Ore. Case No. 19-34092) on Nov. 4, 2019.  At the
time of the filing, the Debtor was estimated to have assets of
between $1 million and $10 million and liabilities of the same
range.  The case is assigned to Judge Trish M. Brown.  The Debtor
tapped Douglas R. Ricks, Esq., at Vanden Bos & Chapman, LLP, as its
legal counsel.


FLAMINGO/TENAYA: James Kay, Lucky's Have Full-Payment Plan
----------------------------------------------------------
Lucky's Two Way Radio, Inc. and James A. Kay Jr. ("Proponents")
submitted a proposed plan of reorganization for debtor
Flamingo/Tenaya, LLC.

The Debtor has one secured creditor, 7360 Flamingo Las Vegas, LLC,
which has a scheduled claim of $2,809,771.  On Jan. 16, 2019,
Debtor filed amended schedule E/F scheduling the following
unsecured claims:

  * Adina D' Ambrose: $8,100.48
  * Hutchinson & Bloodgood: $915.00
  * NextGen Integrated: $1,480.00
  * Next Gen Integrated: $600.75
  * Sunset Cleaning: $1,180.00

The secured claim of 7360 Flamingo (Class 1) and the allowed
unsecured deficiency claim of 7360 Flamingo (Class 2) are
unimpaired under the Plan.  The claims will be cured and reinstated
via payment in full on the Effective Date.

The unsecured claims of Hutchinson & Bloodgood, NextGen Integrated,
and Sunset Cleaning (Class 3) are unimpaired -- the claimants will
be entitled to retain the postpetition payments in full
satisfaction of their claims.  No attorneys' fees will be allowed
to Class 3 Claimants.

The Debtor shall continue to operate the Real Property, lease
space, collect rent, and pay expenses.  Upon payment of the Class 1
Claim, the Debtor will resume management and the Trustee shall be
immediately discharged.  Allowed administrative and unsecured
claims shall be paid from funds on hand derived from operations.

A full-text copy of the Disclosure Statement dated November 4,
2019, is available at https://tinyurl.com/y689uaqs from
PacerMonitor.com at no charge.

Counsel for Lucky's Two-Way Radios, Inc. and James A. Kay Jr.:

     CARLYON CICA
     CANDACE C. CARLYON
     DAWN M. CICA
     TRACY M. O'STEEN
     265 E. Warm Springs Road, Suite 107
     Las Vegas, NV 89119
     Telephone:(702) 685-4444
     Facsimile: (725) 220-4360

                    About Flamingo/Tenaya LLC

Based in Las Vegas, Nevada, Flamingo/Tenaya, LLC is engaged in
activities related to real estate. It filed as a domestic limited
liability company in Nevada on March 5, 2003.

Flamingo/Tenaya sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Nev. Case No. 17-16614) on Dec. 12,
2017. 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 Laurel E. Davis.



FOX VALLEY PRO: Court Grants $200K DIP Loan from Windward Wealth
----------------------------------------------------------------
Fox Valley Pro Basketball Inc., sought approval from the Bankruptcy
Court to obtain $200,000 of DIP financing from Windward Strategies,
Inc., through Jan. 31, 2020 at 9% interest, on a sweep of the
account and weekly re-lending basis.

The Court now grants the Debtor authority to enter into the DIP
Financing Agreement with Windward for $200,000 in revolving credit,
or an amount equal to the borrowing base, at an interest rate of
9.0% per annum on all the revolving credit loans outstanding
balances.  The Borrowing base will be the amount equal to the
revenue reasonably projected to be received by the Borrower for the
immediately subsequent two-month period of the then-applicable
budget.  The DIP loan proceeds will serve the Debtor's working
capital needs.

Windward is granted a perfected first lien position in the
Post-Petition Collateral under Section 364(c)(1) of the Bankruptcy
Code, and an administrative expense under Section 503(b)(1)(A) of
the Bankruptcy Code, to secure funds advanced plus other amounts
due under the DIP Financing Agreement.  

This Order will continue until the effective date of a plan of
reorganization proposed by the Debtor or it terminates due to a
default as provided in the DIP Financing Agreement.

A copy of the Order is available at https://is.gd/owNrSt from
PacerMonitor.com free of charge.

                About Fox Valley Pro Basketball

Fox Valley Pro Basketball Inc. is the owner of the Menominee Nation
Arena in Oshkosh, Wis.  The Arena serves as the home of the
Wisconsin Herd of the NBA G League and the Wisconsin Glow women's
basketball team.

Fox Valley Pro Basketball sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Wis. Case No. 19-28025) on Aug. 19,
2019.  At the time of the filing, the Debtor was estimated to have
assets of between $10 million and $50 million and liabilities of
the same range.  The case is assigned to Judge Brett H. Ludwig.
Kerkman & Dunn is the Debtor's counsel.




FOX VALLEY PRO: Court OKs $200K DIP Loan from Two Willows
---------------------------------------------------------
Judge Brett H. Ludwig authorized Fox Valley Pro Basketball, Inc.,
to obtain on a final basis up to $300,000 of secured DIP financing
from Two Willows, LLC or its designee, pursuant to the terms of the
DIP Financing Agreement, at the interest rate of 9.0% per annum on
all outstanding balances.

The Debtor has previously filed a motion seeking to obtain the
$300,000 DIP Loan from Two Willows through the effective date of a
plan.  The DIP Facility required a $9,000 loan fee, and reasonable
costs and fees of the loan, including reasonable attorney fees, to
be added to the principal, and payable at maturity.  The DIP
Facility also required the subordination by DIP Lender Windward
Wealth Strategies of its postpetition liens to secure the $200,000
DIP Loan Windward provided the Debtor.

Pursuant to this Court Order, Two Willows is granted a perfected
first-priority lien position in the Post-Petition Collateral and an
administrative expense to secure funds advanced plus other amounts
due under the DIP Financing Agreement. The lien of Windward Wealth
Strategies, Inc. in the Post-Petition Collateral is subordinated
solely to the lien of Two Willows.

The liens granted to Two Willows are subject to the rights to set
off, if any, of the City of Oshkosh in the TIF funds and the
Debtor's agreement with the City that it may retain approximately
$50,000 from the TIF funds due November 1, 2019.  

A copy of the Final Order, including the DIP Financing Agreement,
is available at https://is.gd/xN2UR0  from PacerMonitor.com free of
charge.

               About Fox Valley Pro Basketball

Fox Valley Pro Basketball Inc. is the owner of the Menominee Nation
Arena in Oshkosh, Wis.  The Arena serves as the home of the
Wisconsin Herd of the NBA G League and the Wisconsin Glow women's
basketball team.

Fox Valley Pro Basketball sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Wis. Case No. 19-28025) on Aug. 19,
2019.  At the time of the filing, the Debtor was estimated to have
assets of between $10 million and $50 million and liabilities of
the same range.  The case is assigned to Judge Brett H. Ludwig.
Kerkman & Dunn is the Debtor's counsel.


FOXHOLE BAR: U.S. Trustee Unable to Appoint Committee
-----------------------------------------------------
The Office of the U.S. Trustee on Nov. 19, 2019, disclosed in a
court filing that no official committee of unsecured creditors has
been appointed in the Chapter 11 case of Foxhole Bar, LLC.

                        About Foxhole Bar

Foxhole Bar, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Fla. Case No. 19-23972) on Oct. 17,
2019.  At the time of the filing, the Debtor had estimated assets
of less than $50,000 and liabilities of between $100,001 and
$500,000.  The case is assigned to Judge A. Jay Cristol.  The
Debtor tapped Thomas Abrams, Esq., as its legal counsel.


FRICTIONLESS WORLD: Taps Three Twenty-One as Investment Banker
--------------------------------------------------------------
Frictionless World, LLC, received approval from the U.S. Bankruptcy
Court for the District of Colorado to hire Three Twenty-One Capital
Partners, LLC, as its investment banker.
   
The firm will provide these services in connection with the
Debtor's Chapter 11 case:

     a. assist the Debtor in reviewing and analyzing its results of
operations, financial condition and business plan;

     b. assist the Debtor in reviewing and analyzing a potential
transaction;

     c. provide to the Debtor valuation services and testimony;

     d. assist the Debtor in negotiating a transaction;

     e. advise the Debtor on the terms of securities it offers in
any potential transaction;

     f. prepare the Debtor's marketing materials for a potential
transaction;

     g. identify and contact the Debtor's potential acquirers or
purchasers, and meet with and provide them with the marketing
materials and additional information about the Debtor's assets,
properties or businesses; and

     h. provide other investment banking services in connection
with a transaction.

Three Twenty-One's engagement agreement with the Debtor provides
for this fee structure:

     a. monthly retainer in the amount of $15,000;

     b. out-of-pocket expenses budgeted for $15,000 for marketing
costs only; and

     c. success fee of 4 percent of the transaction value of the
stalking horse bid or, if no stalking horse bid, the opening bid at
auction, plus 6 percent of every dollar above the initial
transaction value.

The U.S. trustee, which had previously filed an objection to Three
Twenty-One's employment will retain the right to object to the fees
and expenses to be paid to the firm, including the monthly retainer
and success fee, according to the bankruptcy court's order.  

Three Twenty-One is required to provide monthly fee and expense
statements to the Debtor and the U.S. trustee, and the Debtor may
pay 80 percent of the fees and 100 percent of the expenses.  All
monthly fees paid to the firm is subject to court approval through
interim or final fee applications.

Three Twenty-One is "disinterested" within the meaning of Section
101(14) of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Ervin M. Terwilliger
     Three Twenty-One Capital Partners, LLC
     5950 Symphony Woods Rd., Suite 200
     Columbia, MD 21044
     Phone: 443-325-5290
     Fax: 443.703.2330
     Email: erv@321capital.com

                   About Frictionless World

Frictionless World, LLC -- https://www.frictionlessworld.com/ --
provides professional grade outdoor power equipment, replacement
parts for tractors, hitches and agricultural implements, gate and
fence equipment, lithium ion powered tools, and ice fishing
equipment.  It offers brands such as Dirty Hand Tools, RanchEx,
Redback, Trophy Strike and Vinsetta Tools.

Frictionless World sought Chapter 11 protection (Banks. D. Col.
Case No. 19-18459) on Sept. 30, 2019.  The Hon. Michael E. Romero
is the case judge.  In the petition signed by CEO Daniel Banjo, the
Debtor disclosed total assets of $14,600,503 and total liabilities
of $17,364,542.  

The Debtor tapped Wadsworth Garber Warner Conrardy P.C. as
banruptcy counsel; Thomas P. Howard, LLC as special counsel; r2
Advisors, LLC as financial advisor; and Three Twenty-One Capital
Partners, LLC as its investment banker.


GLOBAL TELLINK: Moody's Affirms B3 CFR, Outlook Stable
------------------------------------------------------
Moody's Investors Service affirmed Global Tel*Link Corporation's B3
corporate family rating, B3-PD probability of default rating as
well as the B2 rating on the company's first lien senior secured
bank facilities and the Caa2 rating on the second lien senior
secured bank facilities. The outlook is stable.

Affirmations:

Issuer: Global Tel*Link Corporation

  Corporate Family Rating, Affirmed B3

  Probability of Default Rating, Affirmed B3-PD

  Senior Secured First Lien Term Loan, Affirmed B2 (LGD3)

  Senior Secured First Lien Revolving Credit Facility, Affirmed
  B2 (LGD3)

  Senior Secured Second Lien Term Loan, Affirmed Caa2 (LGD6)

Outlook Actions:

Issuer: Global Tel*Link Corporation

  Outlook, Remains Stable

RATINGS RATIONALE

GTL's B3 CFR is constrained by its high leverage, niche industry
focus, and strong competitive pressures in a mature end market. The
company benefits from its leading market position and a stable base
of contracted and fairly predictable revenues. Technology
enhancements and evolving demand have led GTL to focus on
non-telephone services such as tablets, which provide calling,
messaging, multi-media and educational content, as well as payment
service solutions. GTL enjoys a high market share in the inmate
telecommunication solutions industry as it is one of two large
operators.

GTL is also constrained by its aggressive financial policy which
includes debt funded acquisitions and intermittent and sizable
shareholder dividends. Regulatory oversight has in the past led to
some price reduction on inter-state calls. As part of the run-up to
the 2020 presidential election, there has been a renewed focus from
some politicians on private prisons and the wider corrections
facilities industry and its service providers.

Private prisons only represent 3-4% of GTL's revenue and
force-closing these would likely only mean that the inmate
population will be relocated. The impact on GTL's revenue is hence
likely to be immaterial. Some cities and states have considered
(and in the case of New York city implemented) facility funded
calls -- whereby the prison bears the full cost of inmate
telecommunications. GTL believes that at best this is likely to
result in a reduction of rates coupled with decreases in facility
commissions, which would mitigate the impact on the company's
profit.

More concerning policy and regulatory changes would be those that
could affect the overall inmate population such as cash bail
reforms or the decriminalization of some offences -- most likely
those related to drug possession. While the political noise around
these has intensified recently, there is no concrete legislation
timeframe and the impact these changes could have on GTL remains
unclear. Moody's will continue to closely monitor and comment on
any development which could materially affect GTL's business.

At the end of Q2 2019 on an LTM basis, GTL's revenue and EBITDA
(Moody's adjusted) grew by 2.4% and 5% respectively compared to
year end 2018. This was ahead of the company's expectations and a
result of increased call volume, growth in minutes of phone use,
and tablet growth. Moody's expects annual revenue growth in the
high-single-digit percentage range for 2019 with EBITDA margins
remaining stable. As such, Moody's leverage (Moody's adjusted)
should be around 5.6x at the end of 2019.

GTL has a very good liquidity profile, supported by nearly $60
million of balance sheet cash at 30 June 2019 and expectations of
generating free cash flow of about $30 million for 2019. The
company maintains a $40 million revolving credit facility which is
expected to remain undrawn. The company's term loans have no
financial covenants, while the revolver is subject to a maximum
first lien net leverage test of 6x under which Moody's expects GTL
will maintain at least 30% cushion over the next 12 to 18 months.
The company has no near term maturities, with the next earliest
maturity being the revolving credit facility due November 2023.

The stable outlook reflects its view that GTL will maintain good
liquidity, generate stable free cash flow, maintain existing market
share, and sustain leverage below 6.5x.

Moody's could upgrade the ratings if GTL maintains very good
liquidity, continues to generate good positive free cash flow, and
grows EBITDA or reduces debt such that leverage (Moody's adjusted)
is sustained below 5.5x. Moody's could lower GTL's ratings if
leverage exceeds 6.5x (Moody's adjusted) or free cash flow turns
negative.

The principal methodology used in these ratings was
Telecommunications Service Providers published in January 2017.

Global Tel*Link Corporation, based in Falls Church, VA, is a
leading provider of telecommunications services to inmates and
administrators in correctional facilities in the US. GTL is owned
and controlled by the private equity firm, American Securities. The
firm acquired GTL in a leveraged buyout transaction in 2011. GTL
was spun out of Schlumberger Ltd. in 2005.


GRAMERCY GROUP: BoA Secured Claim Treatment Resolved
----------------------------------------------------
Debtor Gramercy Group, Inc., responded the objection filed by Bank
of America, N.A., to the Disclosure Statement with Respect to
Chapter 11 Plan of Reorganization of the Debtor.

According to the Debtor, BOA has raised disclosure objections, each
of which are resolved through further disclosure in the amended
Disclosure Statement contemporaneously filed with the Court.
Gramercy submits that these modifications will cure any perceived
deficiencies in disclosure such that the Disclosure Statement
should be approved as containing adequate information.

Gramercy has engaged in extensive negotiations with both BOA and
another lender regarding the terms of Gramercy's exit financing
which will replace Gramercy's prepetition financing with BOA and
provide Gramercy with a term loan to repay BOA's line of credit
claim, a working capital facility and a standby letter of credit to
replace the letters of credit currently issued by BOA.  As a result
of these negotiations -- and Gramercy and Parziale's willingness to
commit all available assets to funding a financing package that
will enable Gramercy to successfully emerge from chapter 11 --
Gramercy has presented BOA with acceptable terms under which
Gramercy will satisfy its obligations to BOA.

Subject to BOA's review and confirmation of the final terms of
Gramercy's exit financing, BOA has agreed to the following proposed
treatment of the BOA Secured Claim in full, final and complete
satisfaction, settlement, release, and discharge of such Claim:

      The BOA Secured Claim will be reinstated in the Allowed
Amount of the BOA Secured Claim pursuant Section 1124(2) of the
Bankruptcy Code, subject to the modifications set forth herein, as
follows:

      * On or as soon as reasonably practicable after the Effective
Date, BOA will receive  $1,000,000 in Cash to be applied in BOA's
sole discretion to amounts due under the BOA Loan  Agreement,
thereby reducing the outstanding indebtedness under the BOA Loan
Agreement from approximately $5,625,000 to approximately
$4,625,000;

      * On or as soon as reasonably practicable after the Effective
Date and following the  $1,000,000 Cash payment, Gramercy will
issue BOA standard forms of promissory  note in favor of BOA as
follows: (i) a promissory note in the original principal amount of
$4,375,000  which will mature on the six month anniversary of the
Effective Date and bear interest at a non-default rate of 7 percent
per annum ("Note 1"); and (ii) a promissory note in the original
principal amount of $250,000 which shall mature on the six month
anniversary of the Effective Date and bear interest at a
non-default rate of 7 percent per annum ("Note 2");

      * On or before the 15th day of each month beginning with the
first calendar month  after the issuance of Note 1, and until such
time as any and all amounts due and owing to BOA under the BOA Loan
Agreement are repaid as set forth herein, BOA will receive monthly
interest payments under Note 1 payable at the non-default rate set
forth therein.  No monthly  interest payments will be due under
Note 2 during its original stated term, and all  principal, accrued
interest and any other fees or expenses accrued thereunder shall be
forgiven and Note 2 shall be cancelled upon the repayment in full
of Note 1 at or prior to its maturity date; provided, however, that
in the event Note 1 is not timely repaid  in  full, Note 2 will be
deemed in default and any and all amounts due thereunder shall
become immediately due and payable;

      * Not later than the six-month anniversary of the Effective
Date, BOA shall receive  payment in full in Cash of the principal
amount due and owing under Note 1, which payment shall be applied
in BOA's sole discretion to amounts due under the BOA Loan
Agreement;

      * Contemporaneous with the repayment in full of any and all
amounts due and owing under Note 1 and the cancellation of Note 2,
or as soon as practicable thereafter, that certain Standby Letter
of Credit No. 68136034 dated Oct. 26, 2017, issued by BOA for the
benefit of Zurich American Insurance Company, as amended, shall be
returned unused to BOA.  Without limiting the generality of the
foregoing, and for the avoidance of doubt, in the event of a draw
upon the foregoing letter of credit before it is returned unused to
BOA, BOA's claim against Gramercy for reimbursement and associated
fees as a result of such draw is unimpaired and the collateral
referenced below secures BOA's claim for such reimbursement and
associated fees;

      * BOA will retain its first priority liens in existence as of
the Petition Date upon any and all collateral securing the BOA
Secured Claim until such time as the BOA Secured Claim has been
satisfied and all obligations thereunder extinguished in accordance
with this  Plan;

      * The portion of the BOA Secured Claim that relates to
Gramercy's obligations under that certain Guarantee dated May 6,
2011, made by Gramercy and certain non-debtors in favor of BOA, is
Unimpaired.

Based on the foregoing, BOA's objections to the treatment of the
BOA Secured Claim as originally proposed have been rendered moot by
the parties reaching mutually agreeable terms (subject to BOA's
final review and confirmation of the exit financing).

A full-text copy of the Debtor's reply dated Nov. 3, 2019, is
available at  ttps://tinyurl.com/y6qkp73u from PacerMonitor.com at
no charge.

                      About Gramercy Group

Gramercy Group, Inc. -- http://gramercyusa.com/-- began operations
in 1989, offering turnkey solutions in environmental remediation
and demolition. It has expanded to provide more services, including
heavy civil and general contracting services.  The company is
headquartered in Wantagh, N.Y.  

Gramercy Group sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. E.D.N.Y. Case No. 19-73622) on May 17, 2019.  At the
time of the filing, the Debtor was estimated to have assets of
between $10 million and $50 million and liabilities of between $10
million and $50 million.  The case is assigned to Judge Louis A.
Scarcella.  The Debtor is represented by Cullen & Dykman LLP and
Otterbourg P.C.


H. TRENT ELSON : Unsecureds to Recover 1% in 5 Years
----------------------------------------------------
H. Trent Elson Underground Sprinkler System, Inc., filed a Plan of
Reorganization that provides that general unsecured creditors in
Class 5 will receive a distribution of 1% of their allowed claims,
to be distributed as follows: $1,000 monthly payment paid pro rata
over  60 months for full satisfaction of any allowed unsecured
claims.

Payments and distributions under the Plan will be funded by income
from the construction business owned by Debtor.

A full-text copy of the Disclosure Statement dated Nov. 4, 2019, is
available at https://tinyurl.com/y6xy9bqw from PacerMonitor.com at
no charge.

Attorney(s) for Debtor in Possession:

        Bryan K. Mickler
        Law Offices of Mickler & Mickler, LLP
        5452 Arlington Expressway
        Jacksonville, FL 322211
        Tel: (904) 725-0822
        Fax: (904) 725-0855
        E-mail: bkmickler@planlaw.com

                About H. Trent Elson Underground
                       Sprinkler System

H. Trent Elson Underground Sprinkler System, Inc., is a
Jacksonville based irrigation company that has encountered serious
Internal Revenue  Service trouble over the past decade or more  due
to irregularities with a former bookkeeper and accountant.  The
issues with the IRS have resulted in lost business opportunities
for Trent Sprinkler over the past decade and a substantial decline
in income potential.

H. Trent Elson Underground Sprinkler System filed a Chapter 11
bankruptcy petition (Bankr. M.D. Fla. Case No. 19-02510) on July 3,
2019, disclosing under $1 million in both assets and
liabilities.  The Debtor is represented by Bryan K. Mickler, Esq.,
at the Law Offices of Mickler & Mickler, LLP.


HAMLETT ENTERPRISES: ISTC Objects to Disclosure Statement
---------------------------------------------------------
The State of Idaho, Idaho State Tax Commission (ISTC) objects to
the First Amended Disclosure Statement filed by debtor Hamlett
Enterprises, Inc., on Oct. 11, 2019.

The ISTC holds a priority tax claim of $6,883.80 under 11 U.S.C.
Sec. 507(a)(8) and an unsecured tax claim of $656.70, filed as
Amended Claim No. 4-2.  The grounds for the ISTC's objection
include the following:

   * To be confirmable, the Debtor's proposed plan must comply with
all of the requirements set forth in 11 U.S.C. Sec. 1129(a),
including 11 U.S.C. Sec. 1129(a)(9)(C)(ii), which requires holders
of tax claims entitled to priority under 11 U.S.C. Sec. 507(a)(8)
to be paid in full not later than 5 years after the date of the
order for relief.  As the date of the order for relief in this case
was Dec. 14, 2018, the ISTC's priority tax claim must be paid by
Dec. 14, 2023.  Under the First Amended Plan, Debtor proposes to
pay the Commission's claim with interest over 48 months beginning
on the Effective Date.  However, this treatment can only meet the
requirements of 11 U.S.C. Sec. 1129(a)(9)(C)(ii) if: the Plan is
confirmed by December 14, 2019, and the ISTC's priority claim is
explicitly excluded from section 6 of Article VII.

   * Class PC4 is exclusively limited to administrative expense
claims of Debtor's accountant and attorneys.  However, taxes
incurred by the estate are an allowed administrative expense under
11 U.S.C. Sec. 503(b)(1)(B) and 503(b)(1)(D).  As such, the Plan
should provide that post-petition taxes and returns will be paid
and filed timely and provide remedies in the event of default on
these obligations.  Under the current language of the plan, Debtor
proposes only to pay administrative expenses approved by the
Court.

The ISTC requests that approval of the Debtor's First Amended
Disclosure Statement in its present form be denied, that Debtor's
be required to further amend the Disclosure Statement to address
all concerns raised, and for such other and further relief as this
Court deems just and proper.

The ISTC is represented by:

         AMBER KAUFFMAN
         ELISA S. MAGNUSON
         Deputy Attorneys General
         State of Idaho
         P.O. Box 36
         Boise, ID 83722-0410
         Telephone: (208) 334-7530
         Facsimile: (208) 364-7387
         E-mail: amber.kauffman@tax.idaho.gov
                 elisa.magnuson@tax.idaho.gov

                   About Hamlett Enterprises

Based in Salmon, Idaho, Hamlett Enterprises, Inc., filed a petition
under Chapter 11 of the Bankruptcy Code (Bankr. D. Idaho Case
No.18-41169) on Dec. 14, 2018.  The Debtor was estimated to have
under $1 million in both assets and liabilities.  Maynes Taggart
PLLC, led by Robert J. Maynes, is the Debtor's counsel.


HARLEM CROSSINGS: Seeks Authority to Use Cash Collateral
--------------------------------------------------------
Harlem Crossings LLC seeks authority from the U.S. Bankruptcy Court
for the Northern District of Illinois to use cash collateral to
continue its business operations and pay its regular daily
expenses.

The Debtor's secured creditor for its real and personal property is
Elizon DB Transfer, LLC. As of the Petition Date, the Debtor owed
Elizon at least $4,978,637 which included principal, interest, fees
and costs.

The Debtor proposes to provide Elizon adequate protection through
the payment of any rent collected in excess of $14,000 and by
granting Elizon a replacement lien in its respective collateral.

A copy of the Motion is available for free at
https://tinyurl.com/soytux6 from Pacermonitor.com

                  About Harlem Crossings LLC

Harlem Crossings LLC holds an equitable interest in Harlem
Crossings Shopping Center located in Frankfort, Illinois.

Harlem Crossings LLC filed a Voluntary Petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No.
19-28399). In the petition signed by Frank V. Klauck, manager, the
Debtor estimated $5,726,361 in assets and $5,003,095 in
liabilities.

The case is assigned to Judge Jacqueline P Cox.

The Debtor is represented by Roy J Dent at Orr Law, LLC. The Debtor
tapped the Law Offices of Kenneth Donkel as special counsel;
Sagamore Capital Strategies, LLC, as loan broker; and Baum Realty
Group, LLC, as leasing agent.




HARRAH WHITES: Taps Hansen Hunter as Financial Advisor
------------------------------------------------------
Harrah Whites Meadows 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.

The services Hansen Hunter will render include the preparation of
Medicare and Medicare cost reports, billing and collections,
general accounting, financial statements, cash management and
forecasting, and financial advisory.  The firm will also provide
bankruptcy-related services, including the preparation of statement
of financial affairs and schedules, cash collateral spreadsheets
and monthly operating reports.

Hansen Hunter's fees will be 2 percent of net patient revenue of
the Debtor.  The firm will charge $2,500 for the preparation of
each Medicare cost report and $2,000 for each Medicaid cost report.


The firm's standard fees for bankruptcy assistance are:

     Partner              $275
     Billing assistance   $125 - $150
     Accountant           $150 - $200
     Accounts Payable     $75 - $125

Hansen Hunter does not represent any interest adverse to the
Debtor's bankruptcy estate, according to court filings.

The firm can be reached at:

     Dede G. Nichols
     Hansen Hunter & Co., P.C.
     8930 SW Gemini Dr
     Beaverton, OR 97008
     Phone: +1 503-244-2134

                About Harrah Whites Meadows Nursing

Harrah Whites Meadows Nursing LLC owns and operates a skilled
nursing facility in Harrah, Okla.

Harrah Whites Meadows Nursing LLC filed its voluntary petition
initiating this Chapter 11 case (Bankr. N.D. Ga. Case No. 19-65376)
on Sept. 27, 2019. In the petition signed by Chistopher F. Brogdon,
manager, the Debtor estimated $100,000 to $500,000 in assets and $1
million to $10 million in liabilities.  The Debtor hired Theodore
N. Stapleton P.C. as its legal counsel.  

The case has been assigned to Judge Barbara Ellis-Monro.  

Nancy J. Gargula, U.S. trustee for Region 21, appointed Tony
Fullbright to serve as patient care ombudsman in the Debtor's case.



HENRY ANESTHESIA: Seeks Court Approval to Hire Corporate Counsel
----------------------------------------------------------------
Henry Anesthesia Associates, LLC, seeks approval from the U.S.
Bankruptcy Court for the Northern District of Georgia to hire a
corporate counsel.

In an application filed in court, the Debtor proposes to employ
Chris Moorman, Esq., of Moorman and Pieschel, LLC, to review and
negotiate employment contracts, manage its anesthesia services
contract with Piedmont Hospital, and provide legal guidance for
Department of Labor issues and worker's compensation.

The Debtor will pay the attorney an hourly fee of $350.

Mr. Moorman disclosed in court filings that he is "disinterested"
within the meaning of Section 101(14) of the Bankruptcy Code.

Mr. Moorman maintains an office at:

     Chris Moorman, Esq.
     Moorman and Pieschel, LLC
     One Midtown Plaza
     1360 Peachtree Street, N.E., Suite 1205
     Atlanta, GA 30309

                 About Henry Anesthesia Associates

Henry Anesthesia Associates LLC is a medical practice in
Stockbridge, Georgia specializing in anesthesiology. Henry
Anesthesia filed a Chapter 11 petition (Bankr. N.D. Ga. Case No.
19-64159) on Sept. 6, 2019. In the petition signed by Keith R.
Carringer, M.D., manager, the Debtor was estimated to have assets
of at least $50,000, and liabilities between $1 million and $10
million. Jones & Walden, LLC, represents the Debtor.


HIGHLAND SALONS: Court Approves Disclosure Statement
----------------------------------------------------
Highland Salons, LP, has won approval of the disclosure statement
in support of its Chapter 11 Plan.

Judge David Jones on Nov. 4, 2019, approved the Debtor's Original
Disclosure Statement filed on Oct. 18, 2019, and ordered that:

   * Dec. 13, 2019, is fixed as the last day for filing written
acceptances or rejections of the Debtor's Original Plan dated Oct.
18, 2019.

   * Dec. 13, 2019 at 5:00 p.m. is fixed as the last day for filing
and serving written objections to confirmation of the Plan.

   * Dec. 18, 2019 at 2:30 p.m. is fixed for the hearing on
confirmation of the Plan.

Counsel for the Debtor:

     Peter Johnson
     Law Offices Of Peter Johnson
     1738 Sunset Boulevard
     Houston, Texas 77005
     Tel: (713) 961-1200
     E-mail: pjohnson@pjlaw.com

                   About Highland Salons LP

Highland Salons LP was founded in 2003 by its current family
owners, Manuel Guevara and his spouse Manuel Guevara who
incorporated the entity under Texas Law for the purpose of
constructing a retail sundries and fuel facility to be located on
the expanding Katyarea in Northwest Harris County, Texas.

In 2003 the Guevaras acquired a parcel of real property containing
10,440 square feet, located at 21720 Highland Knoll Drive, Katy,
Harris County, Texas 77450.  The Guevaras invested their own funds
and obtained a construction loan.  In 2012, the Debtor obtained a
loan from U.S. Small Business Administration administered by
Compass Bank ("SBA Loan") in the amount of $1,320,000.  Guevara
constructed the building to house independent salon and spa
professionals in Katy, Texas.  Currently 50 available stations
exist, with over 24 rented at an average rate of $250 per week.

Highland Salons sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex. Case No. 19-30540) on Feb. 1,
2019. At the time of the filing, the Debtor disclosed $3,553,410 in
assets and $1,019,255 in liabilities.  The case is assigned to
Judge David R. Jones.  The Debtor tapped Law Office of Peter
Johnson as its legal counsel.  No official committee of unsecured
creditors has been appointed in the Chapter 11 case.


HOACTZIN PARTNERS: Seeks to Hire Quilling Selander as Legal Counsel
-------------------------------------------------------------------
Hoactzin Partners, L.P. seeks approval from the U.S. Bankruptcy
Court for the Northern District of Texas to hire  Quilling,
Selander, Lownds, Winslett & Moser, P.C. as its legal counsel.

The firm will provide these services in connection with the
Debtor's Chapter 11 case:  

     (a) advise the Debtor of its powers and duties in the
continued management of its affairs and assets;

     (b) prepare applications, reports and other legal papers;

     (c) prepare a disclosure statement and plan of reorganization;
and

     (d) investigate and prosecute preference and fraudulent
transfers actions arising under the avoidance powers of the
Bankruptcy Code.

The firm's normal hourly billing rates are:

     Shareholders       $232 - $650
     Associates         $185 - $385
     Paralegals         $100 - $135

Hudson Jobe, Esq., and Timothy York, Esq., the firm's attorneys who
will be handling the case, will charge $425 per hour and $365 per
hour, respectively.  The retainer fee is $75,000.

Mr. Jobe assures the court that the firm does not represent any
interest adverse to the Debtor and its estate.

The firm can be reached through:

     Hudson M. Jobe, Esq.
     Quilling, Selander, Lownds, Winslett & Moser, P.C.
     2001 Bryan Street, Suite 1800
     Dallas, TX 75201
     Tel: (214) 871-2100
     Fax: (214) 871-2111
     Email: hjobe@qslwm.com

            About Hoactzin Partners

Hoactzin Partners, L.P., a privately held company in the oil and
gas investment business, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case No. 19-33545) on Oct. 26,
2019.  At the time of the filing, the Debtor was estimated to have
assets of between $1 million and $10 million and liabilities of the
same range.

The case is assigned to Judge Stacey G. Jernigan.

The Debtor is represented by Hudson M. Jobe, Esq., and Timothy A.
York, Esq., at Quilling, Selander, Lownds, Winslett & Moser, P.C.


IFRESH INC: Incurs $887K Net Loss in Second Quarter
---------------------------------------------------
iFresh Inc. filed with the Securities and Exchange Commission its
quarterly report on Form 10-Q reporting a net loss of $886,723 on
$21.86 million of total net sales for the three months ended Sept.
30, 2019, compared to a net loss of $4.16 million on $30.28 million
of total net sales for the three months ended Sept. 30, 2018.

For the six months ended Sept. 30, 2019, the Company reported a net
loss of $4.25 million on $45.69 million of total net sales compared
to a net loss of $6.04 million on $61.37 million of total net sales
for the same period during the prior year.

As of Sept. 30, 2019, the Company had $104.79 million in total
assets, $106.39 million in total liabilities, and a total
shareholders' deficiency of $1.60 million.

As of Sept. 30, 2019, iFresh had cash and cash equivalents of
approximately $0.9 million.  iFresh had operating losses for the
six months ended Sept. 30, 2019 and had negative working capital of
$26.4 million and $21.6 million as of Sept. 30, 2019 and
March 31, 2019, respectively.  The long-term KeyBank loan of $20.5
million has been presented as short-term because the Company is not
in compliance with the KeyBank loan covenants and KeyBank has the
option to accelerate payment at any time.  The Company did not meet
certain financial covenants required in the credit agreement with
KeyBank National Association.  As of Sept. 30, 2019, the Company
has outstanding loan facilities of approximately $20.5 million due
to KeyBank.  Failure to maintain these loan facilities will have a
significant impact on the Company's operations.  iFresh had funded
working capital and other capital requirements in the past
primarily by equity contribution from shareholders, cash flow from
operations, and bank loans.  Cash is required to pay purchase costs
for inventory, rental, salaries, office rental expenses, income
taxes, other operating expenses and repay debts.  iFresh's ability
to repay its current obligation will depend on the future
realization of its current assets.  iFresh's management has
considered the historical experience, the economy, trends in the
retail industry, the expected collectability of the accounts
receivables and the realization of the inventories as of Sept. 30,
2019.  iFresh's ability to continue to fund these items may be
affected by general economic, competitive and other factors, many
of which are outside of our control.

The Company has $4.3 million of advances and receivables from
related parties that it intends to collect or acquire, and these
advances and receivables will be used to offset part of the
acquisition consideration for such related parties.

The Company's principal liquidity needs are to meet its working
capital requirements, operating expenses, and capital expenditure
obligations.  As of Sept. 30, 2019, the Company remains in
noncompliance with the financial covenants of the KeyBank Loan.
These conditions continue to raise doubt as to the Company's
ability to remain a going concern.

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

                      https://is.gd/Fn3gmA

                       About iFresh, Inc.

Headquartered in Long Island City, New York, iFresh Inc.
(http://www.ifreshmarket.com),is an Asian American grocery
supermarket chain and online grocer on the east coast of U.S. With
nine retail supermarkets along the US eastern seaboard (with
additional stores in Glen Cove, Miami and Connecticut opening
soon), and two in-house wholesale businesses strategically located
in cities with a highly concentrated Asian population, iFresh aims
to satisfy the increasing demands of Asian Americans (whose
purchasing power has been growing rapidly) for fresh and culturally
unique produce, seafood and other groceries that are not found in
mainstream supermarkets.  With an in-house proprietary delivery
network, online sales channel and strong relations with farms that
produce Chinese specialty vegetables and fruits, iFresh is able to
offer fresh, high-quality specialty produce at competitive prices
to a growing base of customers.

iFresh reported a net loss of $12 million for the year ended March
31, 2019, compared to a net loss of $791,293 for the year ended
March 31, 2018.  As of June 30, 2019, the Company had $109.55
million in total assets, $110.91 million in total liabilities, and
a total shareholders' deficiency of $1.36 million.

Friedman LLP, in New York, the Company's auditor since 2016, issued
a "going concern" qualification in its report dated June 28, 2019,
citing that the Company incurred operating losses and did not meet
the financial covenant required in its credit agreement.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.


INSYS THERAPEUTICS: Lead Plaintiff Has Issues With Plan Releases
----------------------------------------------------------------
Clark Miller ("Lead Plaintiff"), the court-appointed lead plaintiff
in the securities class action captioned as Di Donato v. Insys
Therapeutics, Inc., et al., pending in the United States District
Court for the District of Arizona, for himself and the certified
class in the Securities Litigation, submitted an objection to
approval of the proposed disclosure statement for the Joint Plan of
Liquidation Proposed by Insys Therapeutics, Inc. and its affiliated
debtors.

Lead Plaintiff points out that the Plan is at best unclear about
whether any of the Non-Debtor Defendants will be Released Parties
under the Third-Party Release - and the Disclosure Statement fails
to disclose the terms and scope of the Third-Party Release at all.

Lead Plaintiff further points out that the Disclosure Statement
also lacks adequate disclosure in other areas to advise Lead
Plaintiff, the Certified Class, and creditors generally of the
Plan's impact on their claims against the Debtors and the
Non-Debtor Defendants and on the continued prosecution of the
Securities Litigation.

Counsel to Lead Plaintiff and the Certified Class:

     Christopher P. Simon
     CROSS & SIMON, LLC
     1105 North Market Street, Suite 901
     Wilmington, DE 19801
     Telephone: (302) 777-4200
     Facsimile: (302) 777-4224
     E-mail: csimon@crosslaw.com

            - and -

     Michael S. Etkin
     Andrew Behlmann
     LOWENSTEIN SANDLER LLP
     One Lowenstein Drive
     Roseland, New Jersey 070068
     Telephone: (973) 597-2500
     Facsimile: (973) 597-2333
     metkin@lowenstein.com
     abehlmann@lowenstein.com

                   About Insys Therapeutics

Headquartered in Chandler, Ariz., Insys Therapeutics, Inc. --
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.

As of March 31, 2019, Insys had $172.6 million in total assets,
$336.3 million in total liabilities, and a total stockholders'
deficit of $163.7 million.

On June 10, 2019, Insys Therapeutics and six affiliated companies
filed petitions seeking relief under Chapter 11 of the Bankruptcy
Code (D. Del. Lead Case No. 19-11292). Insys intends to conduct the
asset sales in accordance with Section 363 of the U.S. Bankruptcy
Code.

The Debtors' cases are assigned to Judge Kevin Gross.

The Debtors tapped Weil, Gotshal & Manges LLP and Richards, Layton
& Finger, P.A., as legal counsel; Lazard Freres & Co. LLC as
investment banker; FTI Consulting, Inc. as financial advisor; and
Epiq Corporate Restructuring, LLC as claims agent.

Andrew Vara, acting U.S. trustee for Region 3, on June 20, 2019,
appointed nine creditors to serve on an official committee of
unsecured creditors in the Chapter 11 cases.  Akin Gump Strauss
Hauer & Feld LLP, and Bayard, P.A., serve as the Committee's
attorneys; and Province, Inc., is the financial advisor.


INSYS THERAPEUTICS: US Says Plan Unfairly Treats Some Unsecureds
----------------------------------------------------------------
The United States of America filed an objection to Insys
Therapeutics, Inc.'s Disclosure Statement, saying that it fails to
describe a confirmable plan.

"The Debtors have sold their assets.  They have successfully
resolved their legal and bankruptcy claims with the United States.
There is nothing left to do but liquidate remaining claims and
recover transfers and insurance proceeds to distribute to
creditors.  The Plan should be a simple, straightforward plan of
liquidation that allocates the estates' available assets on a pro
rata basis equally amongst all the unsecured secured creditors,"
the United States said in court filings.

"The Debtors and the Creditors' Committee, however, apparently
spent the last three months negotiating a byzantine and complex
distribution scheme to the detriment of the largest creditors in
this case  -- the governmental unit creditors, including the United
States, who do not support the Plan Settlement.  Therefore, if the
Debtors are permitted to solicit acceptances of their currently
proposed Plan, the parties and the Court will spend the next six
weeks engaged in a contentious confirmation process that will
surely drain the estates of significant cash.  The Court should not
allow the Debtors to initiate this fight without further
negotiations and disclosure of sufficient information to allow
creditors to make an informed decision about the Plan Settlement.
Otherwise, the Plan is fatally flawed and cannot be confirmed under
section 1129 of the Bankruptcy Code."

The United States points out that the Plan provides that general
unsecured creditors, i.e., the creditors in Classes 3-7, will
receive differing and unequal distributions, and that such
distributions are being made according to unexplained proportions
rather than on a pro rata basis:

   * CLASS 3 Trade & Other Unsecured Claims totaling $50 million.
First $3 million, plus .5% of $3-$38 million, plus 7% of Preference
and Indemnification Proceeds Distributions subject to Class 3
Recovery Cap.

   * CLASS 4 Insurance Related Claims totaling $258 million.  68.5%
of 55% of $3-$38 million; 68.5% of 20% of $38 million+

   * CLASS 5 Hospital and NAS Monitoring Claims totaling $117
million.  31% of 55% of $3-$38 million; 31% of 20% of $38 million+

   * CLASS 6 DOJ Claims totaling $273 million, plus criminal
restitution.  31.4% of 45% of $3-$38 million; 31.4% of 38 million+
Allowed FCA Claim is subject to GUC Recovery Reallocation Threshold
and DOJ Distribution Reallocation

   * CLASS 7 SMT Group Claims totaling $597 million.  68.6% of 45%
of $3-$38 million; 68.6% of 20% of $38 million+, plus 5% of
Products Liability Insurance Proceeds, plus 100% of any Excess
Products Liability Proceeds.

According to the United States, this disparate and inequitable
distribution scheme is the result of a Plan Settlement entered into
by the Debtors, the Creditors' Committee and certain creditors
after the parties participated in a court-ordered mediation.  The
Debtors are using the Plan as a Rule 9019 motion to approve their
agreement with a limited group of creditors as a way to bind all
the creditors even though a majority of the creditors who hold
substantial claims against the estates are not Settling Parties to
the Plan Settlement.

                   About Insys Therapeutics

Headquartered in Chandler, Ariz., Insys Therapeutics, Inc.
--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.

As of March 31, 2019, Insys had $172.6 million in total assets,
$336.3 million in total liabilities, and a total stockholders'
deficit of $163.7 million.

On June 10, 2019, Insys Therapeutics and six affiliated companies
filed petitions seeking relief under Chapter 11 of the Bankruptcy
Code (D. Del. Lead Case No. 19-11292). Insys intends to conduct the
asset sales in accordance with Section 363 of the U.S. Bankruptcy
Code.

The Debtors' cases are assigned to Judge Kevin Gross.

The Debtors tapped Weil, Gotshal & Manges LLP and Richards, Layton
& Finger, P.A., as legal counsel; Lazard Freres & Co. LLC as
investment banker; FTI Consulting, Inc. as financial advisor; and
Epiq Corporate Restructuring, LLC as claims agent.

Andrew Vara, acting U.S. trustee for Region 3, on June 20, 2019,
appointed nine creditors to serve on an official committee of
unsecured creditors in the Chapter 11 cases.  Akin Gump Strauss
Hauer & Feld LLP, and Bayard, P.A., serve as the Committee's
attorneys; and Province, Inc., is the financial advisor.

After selling substantially all of their assets, the Debtors filed
a Chapter 11 Plan and Disclosure Statement.



INSYS THERAPEUTICS: US Trustee Says Plan Disclosures Inadequate
---------------------------------------------------------------
The United States Trustee filed an objection to Insys Therapeutics,
Inc.'s Disclosure Statement.

With respect to the Disclosure Statement, the U.S. Trustee objects
on the basis that it does not contain adequate information to allow
a creditor to make an informed judgment regarding whether to vote
in favor of the plan. In addition, at the confirmation stage, the
U.S. Trustee anticipates raising certain inappropriate provisions
currently set forth in the Plan, which may render the Plan
unconfirmable as drafted.

Among other things, the U.S. Trustee points out that the Disclosure
Statement does not contain adequate information to allow a creditor
to make an informed judgment as to whether such creditor would
receive at least as much as it would receive in a chapter 7
liquidation.  In particular, it does not have attached a
liquidation analysis.  The Disclosure Statement provides only
general information regarding the various administrative costs
associated with chapter 7 and does not provide any estimate of the
cost if such assets were liquidated by a chapter 7 trustee.

                   About Insys Therapeutics

Headquartered in Chandler, Ariz., Insys Therapeutics, Inc. --
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.

As of March 31, 2019, Insys had $172.6 million in total assets,
$336.3 million in total liabilities, and a total stockholders'
deficit of $163.7 million.

On June 10, 2019, Insys Therapeutics and six affiliated companies
filed petitions seeking relief under Chapter 11 of the Bankruptcy
Code (D. Del. Lead Case No. 19-11292).  Insys intends to conduct
the asset sales in accordance with Section 363 of the U.S.
Bankruptcy
Code.

The Debtors' cases are assigned to Judge Kevin Gross.

The Debtors tapped Weil, Gotshal & Manges LLP and Richards, Layton
& Finger, P.A., as legal counsel; Lazard Freres & Co. LLC as
investment banker; FTI Consulting, Inc. as financial advisor; and
Epiq Corporate Restructuring, LLC as claims agent.

Andrew Vara, acting U.S. trustee for Region 3, on June 20, 2019,
appointed nine creditors to serve on an official committee of
unsecured creditors in the Chapter 11 cases.  Akin Gump Strauss
Hauer & Feld LLP, and Bayard, P.A., serve as the Committee's
attorneys; and Province, Inc., is the financial advisor.


INTEGER HOLDINGS: S&P Affirms 'B+' Rating on Senior Secured Debt
----------------------------------------------------------------
S&P Global Ratings affirmed its 'B+' issue-level ratings on Integer
Holdings Corp.'s senior secured debt following the company's
announcement of amendments to its term loan B.

The amendments target to reprice the company's term loan B from
LIBOR+300 to LIBOR+250, and also permit it to introduce an
accounts-receivables sales facilities that S&P views as priority
debt. S&P reviewed its recovery prospects on the existing senior
secured debt in light of the potential introduction of the
nonrecourse account receivables sale program (AR program) of up to
$100 million. S&P's recovery rating on the company's senior secured
facilities remains '3', but it is changing the recovery estimate to
50% from 55%. The revision reflects S&P's view that the AR program
will reduce the value available to other debt holders and its
expectations that the facility would be fully drawn in a simulated
default scenario.

S&P's 'B+' issuer credit rating (ICR) and its positive outlook on
Integer Holdings Corp. are unaffected by this transaction. S&P
forecasts the company will continue to delever in the coming
quarters and will reach adjusted debt to EBITDA of about 3.5x by
the end of 2019, reducing it further to 3x-3.5x range in 2020. S&P
incorporates the total amount of the AR program in the
abovementioned credit measures. Factors that offset the addition of
AR program and enable the company to reduce leverage are
faster-than-expected EBITDA expansion, limited acquisition spending
(only $15 million, below S&P's previous projections), and expected
reduction of funded debt by about $105 million-$115 million from
internally generated cash in 2019.

S&P's rating continues to incorporate its view that Integer can
increase the company's revenue at a low- to mid-single-digit
percent rate in 2020 while adjusted EBITDA margins exceed 21%. The
rating agency bases its assumptions on the company's sticky
contracts and relationships with customers and its broad array of
offerings relative to smaller competitors. Those advantages are
partially offset by the company's significant customer
concentration (the top three customers account for about 50% of
total sales), the potential for original equipment manufacturers
(OEMs) to do more of their own manufacturing, and the exposure to
intense price-based competition in a fragmented market for
outsourced manufacturing.

"Our positive outlook continues to reflect the potential for an
upgrade over the next 12 months if we believe the company can
successfully pursue tuck-in acquisitions and sustain leverage at
3.5x or less with EBITDA margins exceeding 21%, as per our base
case," S&P said.

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- The company's funded debt structure, post-amendment, is
unchanged and it includes $200 million senior secured revolver,
$277 million senior secured term loan A, and $563 million senior
secured term loan B.

-- S&P's simulated default scenario contemplates a default in 2023
stemming from competitive pressures or quality-related reputation
issues that would cause contract losses among the company's largest
customers.

-- S&P assumes 85% of the available revolver is drawn and an
increase in revolver borrowing costs resulting from LIBOR increases
and credit deterioration.

-- Given its leading market position, S&P believes that Integer
would likely reorganize in the event of default.

-- S&P estimates that for the company to default, EBITDA would
need to decline by about 55%.

-- S&P values the company on a going-concern bases using a 6.0x
multiple (a premium to the multiple it uses on peers, given its
greater scale and broader product offering) to the default level
EBITDA.

Simulated default and valuation assumptions

-- Simulated year of default: 2023
-- EBITDA at emergence: $110 million
-- EBITDA multiple: 6x
-- Jurisdiction: U.S.

Simplified waterfall

-- Net enterprise value (after 5% administrative costs): $628
million
-- Valuation split (obligors/nonobligors: 65%/35%
-- Priority debt (AR program): $102 million
-- Collateral and deficiency value available to secured creditors:
$526 million
-- Secured first-lien debt: $1.026 billion
-- Recovery expectations: 50%-70% (rounded estimate: 50%)

Notes: All debt amounts include six months of prepetition interest.


INTERIM HEALTHCARE: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Interim Healthcare of Southeast Louisiana, Inc.
        71677 Riverside Drive
        Covington, LA 70433

Business Description: Interim Healthcare of Southeast Louisiana,
                      Inc. is a home health care services provider

                      based in Covington, Louisiana.

Chapter 11 Petition Date: November 19, 2019

Court: United States Bankruptcy Court
       Eastern District of Louisiana (New Orleans)

Case No.: 19-13127

Judge: Hon. Jerry A. Brown

Debtor's Counsel: Joseph Patrick Briggett, Esq.
                  LUGENBUHL, WHEATON, PECK, RANKIN & HUBBARD
                  601 Poydras Street, Suite 2775
                  New Orleans, LA 70130
                  Tel: (504) 568-1990
                  Fax: (504) 310-9195
                  E-mail: jbriggett@lawla.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Julia Burden, president and chief
executive officer.

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/laeb19-13127.pdf


INVERNESS VILLAGE: Wants to Continue Using UMB Cash Collateral
--------------------------------------------------------------
Inverness Village seeks authority from the U.S. Bankruptcy Court
for the Northern District of Oklahoma to continue using cash
collateral in which UMB Bank, N.A., as bond trustee, asserts a lien
and security interest.

The Debtor sought and obtained approval of the Asset Purchase
Agreement that provides for the sale of the Inverness Facility to
Tulsa Hills Community, Inc. in connection with the Chapter 11 Case.
The sale to Buyer was consummated on Oct. 31, 2019.

Since approval of the sale of the Inverness Facility, the Debtor
and its professionals have been engaged in discussions with the
Bond Trustee regarding the use of cash collateral subsequent to the
closing of such sale and in separate discussions with Asbury
regarding the rendition of services to the Debtor subsequent to
such sale relating to accounting services of billing, payment, and
the preparation of financial statements for periods prior to the
closing date.

The Debtor submitted a post-closing budget to the Bond Trustee, but
to date the Debtor has not received approval of such budget or
approval of any particular line items in such Budget.  The
proposed budget for the period November 1 to December 15, 2019
provides total operating cash disbursements of approximately
$1,294,407.

The Budget contemplated the resolution of the Debtor's bankruptcy
case by the completion of the first quarter of 2020. The Budget
further contemplated the filing of a plan and disclosure statement
for the Debtor.

                    About Inverness Village

Inverness Village -- https://www.invernessvillage.com/ -- is an
Oklahoma not-for-profit corporation that operates the Inverness
Village continuing care retirement community.  The Inverness
Facility is a modern senior living community that was completed in
2003 and accommodates residents' needs based on their required
level of care through its integrated independent living facility,
assisted living facility, and skilled nursing, and memory-care
facilities.

On July 22, 2019, Inverness Village sought Chapter 11 protection
(Bankr. N.D. Okla. Case No. 19-11510) in Tulsa.  The Debtor
disclosed $62.3 million in assets and $174.9 million in debt as of
June 30, 2019.

The Hon. Dana L. Rasure is the case judge.

The Debtor tapped TOMLINS & PETERS, PLLC, as counsel; CONNER &
WINTERS, LLP, as co-counsel; RBC CAPITAL MARKETS, LLC and  B. RILEY
FBR, INC., as investment bankers; and GLASSRATNER ADVISORY &
CAPITAL GROUP, LLC, as financial advisor. EPIQ CORPORATE
RESTRUCTURING, LLC, is the claims agent.


IPS WORLDWIDE: Disclosure Statement Hearing on Dec. 4
-----------------------------------------------------
The Trustee of IPS Worldwide, LLC, is scheduled to seek approval at
a hearing on Dec. 4, 2019, at 10:00 a.m. of the Disclosure
Statement in support of his Chapter 11 Plan for the Debtor.

As reported in the TCR, Alex D. Moglia, the chapter 11 Trustee for
IPS Worldwide, LLC,
submitted a proposed Plan of Liquidation and Disclosure Statement.
On June 25, 2019, the Court entered its order authorizing the sale
of substantially all of the Debtor's assets.  The Chapter 11
Trustee conducted an auction on June 19, 2019, with Europe
Management, SPRL, being the highest and  best bidder.  The asset
sale closed in July 2019 and the amount of $2,300,000 was paid into
the estate.  The Trustee's Plan provides for a Liquidating Trust
with a Liquidating Trustee with a mandate to generate the maximum
possible amount of
Extraordinary Income in as short a time as possible to distribute
such Extraordinary Income equitably  among the holders of allowed
claims.

A full-text copy of the Disclosure Statement dated Nov. 1, 2019, is
available at https://tinyurl.com/y5knnnym from PacerMonitor.com at
no charge.

                     About IPS Worldwide

IPS Worldwide, LLC, filed a Chapter 11 petition (Bankr. M.D. Fla.
Case No. 19-00511) on Jan. 25, 2019.  In the petition signed by
William Davies, president, the Debtor estimated assets of less than
$50,000 and liabilities of $100 million to $500 million.  The case
is assigned to Judge Karen S. Jennemann.  The Debtor tapped the Law
Offices of Scott W. Spradley, P.A., as its bankruptcy counsel, and
Moglia Advisors, as investment banking advisor.

Judge Karen S. Jennemann approved the appointment of Alex D. Moglia
as the Chapter 11 trustee for IPS Worldwide.  The trustee retained
Klayer and Associates, Inc., as counsel and Moglia Advisors, as
investment banking advisor.

The U.S. Trustee for Region 21 on Feb. 15, 2019, appointed three
creditors to serve on an official committee of unsecured creditors
in the Chapter 11 case.


ITHRIVE HEALTH: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: iThrive Health, LLC
           d/b/a Village Green Apothecary
        5415 W. Cedar Lane
        Bethesda, MD 20814

Business Description: iThrive Health, LLC Village Green Apothecary
                      is a pharmacy in Bethesda, Maryland that
                      provides prescription drugs, over-the-
                      counter medications, individualized
                      nutrition, and healthy living products.

Chapter 11 Petition Date: November 19, 2019

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

Case No.: 19-25413

Judge: Hon. Thomas J. Catliota

Debtor's Counsel: Janet M. Nesse, Esq.
                  MCNAMEE HOSEA
                  6411 Ivy Lane, Suite 200
                  Greenbelt, MD 20770
                  Tel: 301-441-2420
                  E-mail: jnesse@mhlawyers.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Marc Isaacson, 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/mdb19-25413.pdf


ITS INVESTING: U.S. Trustee Unable to Appoint Committee
-------------------------------------------------------
The Office of the U.S. Trustee on Nov. 18, 2019, disclosed in a
court filing that no official committee of unsecured creditors has
been appointed in the Chapter 11 case of ITS Investing Spokane,
LLC.

                 About ITS Investing Spokane

ITS Investing Spokane, LLC, d/b/a Days Inn Spokane/ is a privately
held company in the hotel industry.  The Company filed a Chapter 11
petition (Bankr. E.D. Wa. Case No. 19-02753) on October 24, 2019 in
Spokane, Washington.  In the petition signed by Lee Friedman,
president, the Debtor was estimated to have both assets and
liabilities between $1 million and $10 million.  Judge Frank L.
Kurtz oversees the case.  Winston & Cashatt, Lawyers represents the
Debtor.


JUNO USA: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Lead Debtor: Juno USA, LP
              a/k/a Juno Lab, L.P.
             One World Trade Center, Suite 84A
             New York, NY 10007

Business Description: Juno -- https://gojuno.com -- was a ride-
                      hailing, mobile application-based
                      transportation network company that
                      operated in New York, New York, where its
                      headquarters are located.  Juno launched its
                      mobile application and began offering its
                      services in early 2016.  Prior to the
                      Chapter 11 filing, Juno shut down its
                      US operations.

Chapter 11 Petition Date: November 19, 2019

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Six affiliates that have filed voluntary petitions for relief under
Chapter 11 of the Bankruptcy Code:

    Debtor                                   Case No.
    ------                                   --------
    Juno USA, LP (Lead Case)                 19-12484
    GT Forge, Inc.                           19-12486
    Sabo One LLC                             19-12487
    Juno Oregon LLC                          19-12488
    Vulcan Cars LLC                          19-12490
    Omaha LLC                                19-12491

Judge: Hon. Mary F. Walrath

Debtors'
General
Bankruptcy
Counsel:             William E. Chipman, Jr., Esq.
                     Mark L. Desgrosseilliers, Esq.
                     Mark D. Olivere, Esq.
                     CHIPMAN BROWN CICERO & COLE, LLP
                     Hercules Plaza
                     1313 North Market Street, Suite 5400
                     Wilmington, Delaware 19801
                     Tel: (302) 295-0191
                     Fax: (302) 295-0199
                     Email: chipman@chipmanbrown.com
                            desgross@chipmanbrown.com
                            olivere@chipmanbrown.com

Debtors'
Financial
Advisor:             MACKINAC PARTNERS, LLC

Debtors'
Notice,
Claims &
Balloting
Agent:               OMNI AGENT SOLUTIONS
                     https://is.gd/qThuaB

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $100 million to $500 million

The petition was signed by Melissa S. Kibler, chief restructuring
officer.

A full-text copy of Juno USA's petition is available for free at:

           http://bankrupt.com/misc/deb19-12484.pdf

List of  Juno USA's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. Sberbank Investments              Bank Loan        $171,300,000
Molodezhynaya Ul 46
Odintsovo, Moscow Region, Russia
c/o Herbert Smith Freehills CIS LLP
Attn: Ilsur Mavlekeev
Tel: +7 495 363 6500

2. Talkdesk, Inc.                      Vendor             $159,240
535 Mission St, 12th Fl
San Francisco, CA 94105
Attn: Nuno Correia
Email: nuno.correia@talkdesk.com

3. TapTica, Inc.                       Vendor              $39,024
121 Ha'chashmonaim St, 2nd Fl
Tel Aviv, 6713328, Israel
Attn: Nitzan Rochman
Tel: +972-3-5453900
Email: nitzan.r@taptica.com

4. Windels Marx Lane &              Professional           $33,668
Mittendorf, LLP                       Services
156 W 56th St
New York, NY 10019
Attn: Dina Ramos
Tel: 212-237-1112

5. Sift Science                        Vendor              $28,254
123 Mission St, Ste 2000
San Francisco, CA 94105
Attn: Peter Nishinaga
Email: pnishinaga@siftscience.com

6. AppsFlyer, Inc.                     Vendor              $19,598
100 1st St, Ste 2500
San Francisco, CA 94105
Attn: Ben Meier
Email: ben.meier@appsflyer.com

7. Anodot Ltd.                         Vendor              $15,000
16 Hatidhar St
Ra'anana, 4366518, Israel
Attn: Amir Kupervas
Email: amir@anodot.com

8. Doit International USA, Inc.        Vendor              $10,279
640 W California Ave, Ste 210
Sunnyvale, CA 94086
Attn: R. Rotschild; Liran;
      E. Greaves;
      D. Offir
Email: ranr@doit-intl.com; liran@doit-
intl.com; egreaves@zendesk.com;
doron.offir@doit-intl.com

9. TeleSign Corp.                      Vendor               $8,303
13274 Fiji Way, Ste 600
Marina Del Rey, CA 90292
Attn: Lena Ellingboe
Email: lellingboe@telesign.com

10. Liftoff Mobile, Inc.               Vendor               $7,862
151 University Ave
Palo Alto, CA 94301
Attn: Pat Clayton
Email: info@liftoff.io

11. ADP, LLC                           Vendor               $4,000
1 ADP Blvd
Roseland, NJ 07068
Attn: Alicia Capparucci
Tel: 855-547-8508
Email: alicia.capparucci@adp.com

12. Sonatype, Inc.                     Vendor               $3,000
8161 Maple Lawn Blvd, Ste 250
Fulton, MD 20759
Attn: Dave Miller
Tel: 301-684-8080
Email: info@sonatype.com

13. RVM Enterprises, LLC               Vendor               $1,652
525 Washington Blvd, Ste 910
Jersey City, NJ 07310
Attn: Judith Mines
Tel: 212-693-1525

14. 4Over4                             Vendor               $1,500
1941 46th St
Astoria, NY 11105
Tel: 718-932-2700
Email: support@4over4.com

15. Wageworks, Inc.                    Vendor               $1,455
1100 Park Pl, 4th Fl
San Mateo, CA 94403
Attn: Jennifer Millar
Email: Jennifer.millar@wageworks.com

16. Mohamed Razzak                   Litigation            Unknown
c/o Held Hines
2004 Ralph Ave
Brooklyn, NY 11234
Attn: Philip M. Hines
Tel: 718-531-9700
Email: phines@heldhines.com

17. Yusef Abdelhamid                 Litigation            Unknown
c/o Held Hines
2004 Ralph Ave
Brooklyn, NY 11234
Attn: Philip M. Hines
Tel: 718-531-9700
Email: phines@heldhines.com

18. Geographic Location Innovations  Litigation            Unknown
c/o Stamoulis & Weinblatt
800 N. West St, 3rd Fl
Wilmington, DE 19801
Attn: Stamatios Stamoulis
Tel: 302-999-1540
Email: weinblatt@swdelaw.com

19. Hailo Technologies               Litigation            Unknown
c/o Pazuniak Law Office
901 N. Market St, Ste 100
Wilmington, DE 19801
Attn: George Pazuniak
Tel: 302-478-4230
Email: gp@del-iplaw.com

20. Rideapp, Inc.                    Litigation            Unknown
c/o Kasowitz Benson Torres
1633 Broadway
New York, NY 10019
Attn: Andrew Rogers Kurland
Tel: 212-506-3306


KEY ENERGY: Egan-Jones Lowers Senior Unsecured Ratings to CC
------------------------------------------------------------
Egan-Jones Ratings Company, on November 14, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Key Energy Services Incorporated to CC from CCC.

Headquartered in Houston, Texas, Key Energy Services is an American
oilfield services company.


KOI DESIGN: Unsecured Creditors to Recover 42% in Plan
------------------------------------------------------
Debtor Koi Design LLC filed with the U.S. Bankruptcy Court for the
Central District of California, Los Angeles Division, a chapter 11
plan of reorganization and a disclosure statement.

Holders of general unsecured claims will receive their pro rata
share of $2 million on the Effective Date (or as soon as
practicable thereafter), and their pro rata share of $1 million
within one year of the Effective Date.  General unsecured claimants
will also receive 25% of any net recovery (net of fees and costs)
in connection with the Fiduciary Duty Action. Estimated recovery is
at least 42% of their allowed general unsecured claims.

The Debtor's sole shareholder and Chief Executive Officer, Kathy
Peterson, will keep her 1,000 membership units in the Debtor but
such interest will be diluted by the Reorganized Debtor’s
issuance of 2,000 membership units to the New Equity Investor.  Ms.
Peterson will contribute $250,000 and waive her prepetition
unsecured claim of $212,007.34.

The Plan will be funded by the Exit Financing in the aggregate
amount of approximately $12,250,000, plus the Debtor's Cash on hand
of approximately $150,000.  Of this amount, the Reorganized Debtor
anticipates that it will require at least $1 million for working
capital to meet the Debtor's operating needs, thereby reducing
available funds to implement the Plan to $11,400,000.

The Debtor is confident that sufficient funds will exist to make
all required Effective Date payments.  The balance of allowed
claims will be satisfied over time by the Reorganized Debtor.

A full-text copy of the Disclosure Statement dated Nov. 5, 2019, is
available at https://tinyurl.com/yxon9shg from PacerMonitor.com at
no charge.

The Debtor is represented by:

         Nicholas Rozansky
         Susan K. Seflin
         Jessica L. Bagdanov
         BRUTZKUS GUBNER
         21650 Oxnard Street, Suite 500
         Woodland Hills, CA 91367
         Telephone: (818) 827-9000
         Facsimile: (818) 827-9099
         E-mail: nrozansky@bg.law
                 sseflin@bg.law
                 jbagdanov@bg.law

                        About Koi Design

Koi Design LLC -- https://www.koihappiness.com/ -- is an
independently-owned, woman-run company engaged in wholesale
distribution of women's and men's clothing and accessories.

Koi Design filed a voluntary Chapter 11 petition (Bankr. C.D. Cal.
Case No. 19-10762) on Jan. 25, 2019.  In the petition signed by
Kathy Peterson, president and managing member, the Debtor was
estimated to have $10 million to $50 million in both assets and
liabilities.  The case is assigned to Judge Neil W. Bason.  The
Debtor tapped Brutzkus Gubner Rozansky Seror Weber LLP as its legal
counsel, and Broadway Advisors, LLC as its financial advisor.


L&N TWINS: Puka Capital Entitled to Recover Under Promissory Note
-----------------------------------------------------------------
In the case captioned PUKA CAPITAL FUNDING LLC, Plaintiff, v. L&N
TWINS PLACE LLC. Defendant, Adversary No. 17-08332 (shl) (Bankr.
S.D.N.Y.), Plaintiff Puka Capital Funding LLC seeks to enforce the
terms of a promissory note between it and Debtor L&N Twins Place
LLC.

One of the Debtor's two members, Maria Balaj, contests the validity
of the promissory note and Puka Capital's right to interest of any
kind. She also has asserted a claim for breach of fiduciary duty
against the Debtor and David Balaj -- the Debtor's other member and
Maria Balaj's ex-husband -- who is also the son of Puka Capital's
principals, Zef Balaj and Lina Balaj.

Maria Balaj also has brought a direct cause of action against Zef
Balaj, David Balaj, and Puka Capital for fraud. The Debtor has
objected to Maria Balaj's claim filed in bankruptcy case.

Bankruptcy Judge Sean H. Lane finds that Puka Capital is entitled
to recover under the promissory note.  The Debtor's objection to
Maria Balaj's claim is sustained, and Maria Balaj's fraud causes of
action fail.

The overwhelming credible evidence in this record supports the
validity of the Promissory Note, the Court explains. The
presumption of validity applies here because the Promissory Note
was duly notarized -- it contains the signature of a notary named
Lisa Manning.

The Court says there has been no evidence submitted to indicate
that the Promissory Note was not signed by David Balaj, that Ms.
Manning was not actually present at the time the Promissory Note
was signed, or that Ms. Manning was not a notary public at the time
the Promissory Note was executed. The most Maria Balaj offered at
the trial is that the Promissory Note "did not exist in 2002." But
the Court finds her testimony to be unreliable and self-serving;
the Court further concludes that her testimony is easily outweighed
by the remainder of the evidence of the Promissory Note's
validity.

The Court also rejects Maria Balaj's contention that the Debtor's
obligations under the Promissory Note were forgiven by Zef Balaj,
Lina Balaj, and Puka Capital. Considering all the evidence in the
record, including the live testimony of the witnesses, the Court
finds that her argument is not supported by credible evidence. More
specifically, the Court finds that the credibility of Maria Balaj's
position is severely undermined by the cross examination of Maria
Balaj by Puka Capital's counsel. Thus, the Court concludes that
there was no written forgiveness of the Promissory Note and further
notes that any oral forgiveness of such an obligation would be
invalid under New York law. For all these reasons, the Court
concludes that the Promissory Note is valid and enforceable against
the Debtor.

Maria Balaj argues that Puka Capital should be denied pre-petition
interest because Puka Capital failed to take collection action
earlier. More specifically, Maria Balaj argues that Puka Capital's
failure to immediately sue to recover under the terms of the
Promissory Note is akin to a forfeiture that would reduce the
interest owed to Puka Capital. The Court disagrees.

Maria Balaj fails to cite statutory authority or case law that
would support the tolling of interest under the Promissory Note.
Although Maria Balaj discussed the tolling of interest under New
York law in certain foreclosure cases, those cases are
distinguishable. The Court has not been presented with evidence
that would support a finding of misconduct after this case was
filed. Indeed, Maria Balaj's briefing focuses on Puka Capital's
failure to bring its state court collection action sooner. Nor has
Maria Balaj identified any authority or rationale for applying the
principles in these foreclosure cases for the present
circumstances.

Even if this Court were to consider Maria Balaj's argument as one
seeking to invoke the laches defense--as Puka Capital does--her
argument to seek tolling of interest here would still fail. Mere
delay without a showing of prejudice to the adverse party is
insufficient to sustain a laches defense.

Maria Balaj also argues that by executing the Promissory Note and
allowing interest to accrue on it to date, David Balaj breached his
fiduciary duty as managing member to the Debtor and her. Once
again, the Court disagrees.

Under New York law, the following elements must be shown in order
to recover damages for a breach of fiduciary duty: "(1) the
existence of a fiduciary relationship, (2) misconduct by the
defendant, and (3) damages directly caused by the defendant's
misconduct." Although breach of fiduciary duty can at times be a
nebulous concept, it is most commonly considered to encompass the
duty of care and the duty of loyalty.

Based on the evidence in the record, the Debtor's objection to
Maria Balaj's breach of fiduciary duty claim must be sustained.
There are two relevant time periods subject to inquiry before the
Court: (1) the time of the Debtor's formation until a loan from
Hudson Valley Bank was paid off in 2010; and (2) the time after the
HVB Obligation was paid off.

Approximately two months after signing the Promissory Note, the
Debtor obtained a loan for $600,000 from HVB.  The Loan was secured
by a mortgage against the Virginia Place property and carried a
6.625% per annum interest rate over a five-year term. Exh The Loan
was also personally guaranteed by Maria and David Balaj.

After closing costs were deducted, the Debtor received $579,389.08
from the HVB Loan.  The remainder of the HVB Loan and an additional
$7,953.92 were then used by the Debtor to pay down, but not pay in
full, the outstanding Promissory Note with Puka Capital. No
payments on the Promissory Note were made after the pay down via
the HVB Loan on April 30, 2002.

According to the Court, as to the first time period, there can be
no breach of the duty of care. The Operating Agreement provided
that David Balaj, the managing member, could take "any and all
actions" he deemed necessary to acquire the Virginia Place
property. That authority included the power "to execute and deliver
. . . instruments" for that purpose. The Operating Agreement also
provided that secured debts like the HVB Obligation must be paid
before unsecured debts. Id. Consistent with these dictates, David
Balaj decided to issue the Promissory Note, subsequently take out
the HVB Loan, and prioritize payment of the HVB Obligation over the
Promissory Note. All these actions were all expressly authorized in
and consistent with the Operating Agreement, thus satisfying his
duty of care and the business judgment rule.

Maria Balaj's claims for breaches of the duty of loyalty for both
time periods fail because there is nothing in the record to
indicate self-dealing or other impermissible conduct by David
Balaj. There is nothing to indicate that David Balaj was on both
sides of the transaction when he issued the Promissory Note. Nor is
there anything in the record to suggest that David Balaj has
received a benefit that Maria Balaj did not. If the facts show
anything, they illustrate the wisdom of the familiar warning about
the risks of doing business with family. Accordingly, Maria Balaj's
fiduciary duty claims fail in toto and the Debtors' objection to
claim number 8 is sustained.

A copy of the Court's Decision dated Oct. 15, 2019 is available at
https://bit.ly/36Udntf from Leagle.com.

Puka Capital Funding LLC, Plaintiff, represented by Dawn Kirby --
dkirby@kacllp.com -- Kirby Aisner & Curley, LLP, Jonathan B. Nelson
, Dorf & Nelson LLP & Steven R. Schoenfeld -- srs@ddw-law.com --
DelBello Donnellan Weingarten et al.

Maria Balaj, Plaintiff, represented by Joseph B. Failla, Voute,
Lohrfink, Magro & McAndrew, LLP & Anne J. Penachio, Penachio Malara
LLP.

L&N Twins Place, LLC, Defendant, represented by Nicholas A.
Pasalides, Reich, Reich & Reich, P.C.

                       About L&N Twins Place

L&N Twins Place, LLC, a single asset real estate, as defined in 11
U.S.C. Section 101(51B), owns a multi-family residential building
located at 2-4 Virginia Place, Pleasantville, New York, valued at
$1.27 million.

L&N Twins Place sought Chapter 11 protection (Bankr. S.D.N.Y. Case
No. 17-22758) on May 23, 2017.  The petition was signed by David
Balaj, managing member.  The Debtor disclosed assets at $1.28
million and liabilities at $650,449.  

Judge Robert D. Drain is assigned to the case.  

The Debtor tapped Jeffrey A. Reich, Esq., at Reich Reich & Reich,
P.C., as counsel.


LASELL UNIVERSITY: S&P Cuts ICR, Revenue Bond Rating to 'BB+'
-------------------------------------------------------------
S&P Global Ratings lowered its long-term rating to 'BB+' from
'BBB-' on Massachusetts Development Finance Agency's series 2011
revenue bonds issued for Lasell University. At the same time, S&P
lowered its issuer credit rating (ICR) to 'BB+' from 'BBB-' on the
university. The outlook remains negative.

"The lowered ratings reflect our opinion of two years of
full-accrual operating deficits in fiscals 2018 and 2019 and the
deterioration in balance sheet ratios in recent years that is
expected to continue," said S&P Global Ratings credit analyst Ying
Huang.

Historically, in S&P's view, Lasell University's consistent
break-even to positive operating performance on a GAAP basis has
been an important factor that offsets its relatively weak demand
profile and balance sheet ratios.

The negative outlook reflects S&P's opinion of the larger operating
deficit currently budgeted for fiscal 2020 (compared to fiscal
2019), which could further weaken the balance sheet. It also
reflects S&P's view of the uncertainties surrounding debt covenants
as the covenant calculations as of fiscal year-end 2019 are getting
close to the covenant limits, which increases the risk of
acceleration in the absence of a waiver. While S&P understands the
university is working on leveraging its recent capital investments
to stabilize the enrollment trend and increase its auxiliary
revenue, the rating agency believes deterioration in the demand
profile, increased potential for breach of debt covenants, a
material weakening in balance sheet ratios, or sustained operating
deficits beyond fiscal 2020 could pressure the ratings.

Total debt outstanding as of fiscal 2019 was $55.9 million, with
$35.1 million in a direct purchase bank loan issued in 2009 for the
series 2006 and 2008 variable-rate bonds and the 2015 direct
purchase loan, with the remainder in long-term fixed-rate debt.


LEMKCO FLORIDA: Secured Creditor Files Liquidating Plan
-------------------------------------------------------
Golf Properties of Florida, LLC, a secured creditor of debtor
Lemkco Florida, Inc., filed with the U.S. Bankruptcy Court for the
Middle District of Florida, Tampa Division, a proposed plan of
liquidation and disclosure statement for the Debtor.

On Sept. 6, 2019, the Debtor filed its Disclosure Statement along
with its Plan of Reorganization proposing to redevelop the Spring
Hill Golf and Country Club and sell lots to builders for
residential development.  After a hearing on Sept. 16, 2019, the
Bankruptcy Court entered an order on September 17, 2019,
disapproving the Disclosure Statement and directing the Debtor to
file an amended plan and disclosure statement no later than Oct.
15, 2019.  Specifically, at the September 16, 2019 hearing, the
Bankruptcy Court directed the Debtor to include a valuation for the
Spring Hill Golf & Country Club property in its plan and disclose
the sources of its financing for any proposed redevelopment plan.

On Nov. 1, 2019, the Debtor filed its Second Disclosure Statement
and Second Plan of Reorganization.  In the Second Disclosure
Statement, the Debtor asserts that the fair market value of the
Spring Hill Golf and Country Club is $520,000 based upon an
Appraisal Report dated Oct. 18, 2019, prepared by Frederick J.
Snell, Jr. and Theodore G. Growdon.  Such Appraisal Report was not
included as an exhibit to the Second Disclosure Statement.
Moreover, rather than identifying the actual sources of plan
funding, the Debtor continues to assert that the Second Plan of
Reorganization will be funded by the Debtor's principal (presumably
Michael Kahanyshyn) and unnamed joint ventures and third-party
investors - the Second Disclosure Statement does not identify the
amounts to be funded, the timing of such funding, or whether any
amounts will be contributed as equity or debt in the reorganized
debtor.

Golf Properties' Plan will be funded by the net proceeds from the
sale and liquidation of the Debtor's assets.

Golf Properties' Plan is based upon its belief that liquidation of
the Debtor’s assets would yield maximum distribution to
creditors.  An independent Plan Administrator will be appointed
post-confirmation to oversee the liquidation of the Debtor's
assets.  No general unsecured claims have been filed in the
Debtor's bankruptcy case.  Instead, the only scheduled undisputed,
non-contingent, liquidated unsecured claim was a purported
unsecured claim in the amount of $610,403 due to Michael J.
Kahanyshyn for Cash infusions/Loans.

Golf Properties' Plan has been proposed in good faith and not by
any means forbidden by law. It is based upon Golf Properties'
belief that a liquidation of the Debtor's property will result in a
substantially higher and faster recovery to all creditors.  Golf
Properties' proposed Plan provides for the liquidating of the
Debtor's assets.

A full-text copy of the Disclosure Statement dated Nov. 5, 2019, is
available at https://tinyurl.com/yypcbf7e from PacerMonitor.com at
no charge.

Golf Properties is represented by:

       BUSH ROSS, P.A.
       1 801 North Highland Avenue
       Tampa, Florida 33602
       Telephone: (813) 224-9255
       Facsimile: (8 13) 223-9620

                    About Lemkco Florida Inc.

Lemkco Florida, Inc., a single asset real estate as defined in 11
U.S.C. Section 101(51B), is the fee simple owner of Spring Hill
Golf & Country Club located at 12079 Coronado Drive Spring Hill,
Florida.

Lemkco Florida filed its voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 18-10971) on Dec. 21,
2018. In the petition signed by Darren Kahanyshyn, chief
restructuring officer, the Debtor disclosed $591,080 in total
assets and $5,456,546 in liabilities.

The Debtor tapped Buddy D. Ford, P.A. as its bankruptcy counsel,
and DHW Law, P.A. as its special counsel.

Gyden Law Group will represent the Debtor in the state appellate
court actions styled, Lemkco Florida, Inc. v. Golf Properties of
Florida, LLC (Case No. 5D18-3928) and Lemkco Florida, Inc. v. Golf
Properties of Florida, LLC (Case No. 5D18-3306), both of which are
presently pending in the Fifth District Court of Appeal, Florida.


MANOMAY LLC: Seeks to Hire Robert O Lampl as Legal Counsel
----------------------------------------------------------
Manomay LLC seeks authority from the US Bankruptcy Court for the
Middle District of Florida to hire Robert O Lampl Law Office as its
legal counsel.

The firm will provide these services in connection with the
Debtor's Chapter 11 case:  

     a. assist in the administration of the Debtor's estate;

     b. represent the Debtor on matters involving legal issues that
are present or are likely to arise in the case;

     c. prepare any legal documentation on behalf of the Debtor;

     d. review reports for legal sufficiency; and

     e. furnish information on legal matters regarding legal
actions and consequences and for all necessary legal services
connected with the case, including the prosecution and defense of
any adversary proceedings.

Robert O Lampl will be paid at these hourly rates:

     Robert O Lampl              $450
     John P. Lacher              $400
     David L. Fuchs              $375
     Ryan J. Cooney              $275
     Sy O. Lampl                 $250
     Paralegal                   $150

Robert O Lampl will also be reimbursed for work-related expenses
incurred.

Robert O Lampl, Esq., a partner at Robert O Lampl Law Office,
assured the court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.

Robert O Lampl can be reached at:

     Robert O Lampl, Esq.
     Robert O Lampl Law Office
     223 Fourth Avenue, 4th Fl.
     Pittsburgh, PA 15222
     Tel: (412) 392-0330
     Fax: (412) 392-0335
     Email: rlampl@lampllaw.com

                  About Manomay LLC

Based in Altamonte Springs, Fla., Manomay LLC filed a voluntary
petition under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla.
Case No. 19-24450) on Nov. 14, 2019. At the time of the filing, the
Debtor disclosed assets of between $1 million and $10 million and
liabilities of the same range.  Robert O Lampl Law Office is the
Debtor's legal counsel.


MARINE INDUSTRIES: Plan to be Funded by Vessel Sale Proceeds
------------------------------------------------------------
Debtor Marine Industries Corporation and Marine Builders, Inc.,
filed a proposed Plan of Reorganization on Oct. 31, 2019, and an
explanatory Disclosure Statement on Nov. 5, 2019.

Under the Plan, each holder of an Allowed Unsecured Claim shall
receive their pro rata share of the Unsecured Creditor Contribution
in the amount of $45,000.  The first $15,000 will be paid as of the
Initial Distribution Date, the second $15,000 will be paid on the
first Business Day that is six months after the Initial
Distribution Date, and the third $15,000 will be distributed on the
first Business Day that is one year after the Initial Distribution
Date.

Following the Petition Date, the Debtors determined that their best
strategy for reorganizing was to bring the vessel Jenny Lynne to
market with the hopes of using the proceeds thereof to satisfy the
WesBanco Claims, and to restructure Marine Builders, Inc. and
Marine Industries Corporation into a single Reorganized Debtor. The
Reorganized Debtor is to satisfy the administrative, priority, NWSB
Claims, IRS Claims, and Indiana Claims, and make the Unsecured
Creditor Distribution as contemplated in the Plan.

Equity Interests in the Reorganized Debtor are to be sold to the
highest or otherwise best bidder, and the existing insiders David
W. Evanczyk, David A. Evanczyk, and Byron Evanczyk are committing
to a stalking horse offer for those equity interests which consists
of assumption of certain debts, a promise to operate the
Reorganized Debtor, and an investment of new capital.  The sale of
a crane and potentially other excess equipment will further
capitalize the Reorganized Debtor and ensure its success.

A full-text copy of the Disclosure Statement dated Nov. 5, 2019, is
available at https://tinyurl.com/y5d6snvb from PacerMonitor.com at
no charge.

The Debtors are represented by:

         James R. Irving
         Christopher B. Madden
         BINGHAM GREENEBAUM DOLL LLP
         3500 PNC Tower
         101 South Fifth Street
         Louisville, Kentucky 40202
         Telephone: (502) 587-3606
         Facsimile: (502) 540-2215
         E-mail: jirving@bgdlegal.com
                 cmadden@bgdlegal.com

                        About Marine Builders

Marine Builders Inc. -- http://www.marinebuilders.net/-- is a
family-owned and operated company in the boat building business.
With 26-acre site and 14,000-square-foot of fabrication shop,
Marine Builders has both new construction and repair capabilities.
Founded in 1972, Marine Builders manufactures custom vessels,
ranging from work boats and barges to dry docks and excursion
vessels. Its subsidiary, Marine Industries Corporation, primarily
operates in the marine supplies business.

Marine Builders and Marine Industries filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code (Bank. S.D. Ind.
Lead Case No. 19-90632) on April 25, 2019.  In the petitions signed
by David A. Evanczyk, president and CEO, the Debtors estimated $1
million to $10 million in both assets and liabilities.  The cases
are assigned to Judge Basil H. Lorch III.  James R. Irving, Esq.,
at Bingham Greenebaum Doll LLP, is the Debtors' counsel.


MARIZYME INC: Reports $509K Net Loss for Third Quarter
------------------------------------------------------
Marizyme, Inc. filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q reporting a net loss and
comprehensive loss of $508,562 on $0 of total revenue for the three
months ended Sept. 30, 2019, compared to a net loss and
comprehensive loss of $72,817 on $542 of total revenue for the
three months ended Sept. 30, 2018.

For the nine months ended Sept. 30, 2019, the Company reported a
net loss and comprehensive loss of $814,540 on $0 of total revenue
compared to a net loss and comprehensive loss of $186,734 on
$23,187 of total revenue for the same period last year.

As of Sept. 30, 2019, the Company had $28.60 million in total
assets, $72,583 in total liabilities, and $28.53 million in total
equity.

At Sept. 30, 2019, the Company had $0 in cash, compared to $104 at
Dec. 31, 2018.  At Sept. 30, 2019, the Company's accumulated
stockholders' deficit was $30,182,449 compared to $29,922,542 at
Dec. 31, 2018.

The Company's cash flow depended on the timely and successful
market entry of its strategic offerings.  Future cash flows from
software products and services are expected to be very small as the
company changed its strategic focus to life sciences and
biotechnology.

Marizyme said, "We believe our cash balance as reported in our
financial statements is not sufficient to fund our growth plan for
any period of time.  In order to fully implement our plan of
operations for the next 12-month period, we will need to raise a
significant amount of capital through one or more future offerings.
We will need to raise $1.5 million to fund operations for the next
12 months, including up to $100,000 for governance and
administrative purposes (assuming we hire a new Chief Executive
Officer).  After the next 12-month period, we most likely will need
to raise additional financing.  We do not currently have any
arrangements for any such financing and there can be no assurances
that we will be able to raise the required capital on acceptable
terms, if at all.

"We have generated minimal revenues to date and, although we expect
to raise significant capital in the future, there can be no
assurances that we will be successful in these endeavors.  We
believe that the actions presently being taken to further implement
our business plan and generate revenues will provide the
opportunity for us to develop into a successful business
operation."

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

                       https://is.gd/1iX1TF

                         About Marizyme

Headquartered in Fort Collins, Colorado, Marizyme, Inc.
(www.marizyme.com), is a development-stage company dedicated to the
commercialization of therapies that address the urgent need
relating to higher mortality and costs in the acute care space.
Specifically, Marizyme will focus its efforts on developing
treatments for disease caused by thrombus (stroke, acute myocardial
infarctions, or AMIs, and deep vein thrombosis, or DVTs),
infections and pain/neurological conditions.

Marizime reported a net loss and comprehensive loss of $248,743 for
the year ended Dec. 31, 2018, compared to a net loss and
comprehensive loss of $570,506 for the year ended Dec. 31, 2017.

K. R. Margetson Ltd., in Vancouver, Canada, the Company's auditor
since 2007, issued a "going concern" opinion in its report dated
March 1, 2019, citing that the Company has incurred operating
losses since inception, which raises substantial doubt about its
ability to continue as a going concern.


MATTAMY GROUP: S&P Alters Outlook to Positive, Affirms 'BB' ICR
---------------------------------------------------------------
S&P Global Ratings revised its rating outlook on Toronto-based
Mattamy Group Corp. to positive from stable and affirmed its 'BB'
issuer credit rating on the company. At the same time, S&P affirmed
its 'BB' issue-level rating on the company's senior unsecured
notes.

S&P Global Ratings revised its rating outlook on Mattamy to
positive due to a sharp improvement in ongoing EBITDA levels
resulting in better credit metrics. S&P's belief that its profits
and operating cash flows will be sustained at these higher levels
is partly based on the company's geographic diversity, where its
strong positions in key Canadian markets is complemented by steady
growth in profitability across its similarly sized U.S. operations.
Moreover, its extensive land positions, particularly in Canada,
limit the company's spending to obtain land, thereby significantly
reducing potential outflows of cash in the event of a downturn in
demand.

The positive outlook facilitates an overall upgrade if the company
is able to maintain its recently improved credit measures,
including adjusted debt to EBITDA of about 2x, even as the
prolonged housing recovery slows over the next 12-24 months.

"We would upgrade Mattamy over the next 12-24 months if it
demonstrates that it can maintain debt to EBITDA of less than 2x
and adjusted debt to capital of below 35% amid more modest
home-buying demand within the U.S. and Canada. The company would
also need to maintain its current financial risk profile while
executing its organically focused growth strategy; increase its
market share in key U.S. locales; and maintain EBITDA margins
similar to other 'BB+' rated peers'," S&P said.

"We could revise our outlook to stable if conditions in North
American housing markets were weaker than we assumed in our base
case forecast, causing the company's debt to EBITDA to rise
sustainably above 3x. This could occur if Mattamy engaged in
aggressive debt-financed land spending or if a pronounced slowdown
around the key Toronto market caused a reduction in deliveries,
such that EBITDA margins declined 300 basis points (bps) from our
base case forecast," S&P said.


MATTEL INC: S&P Rates New $600MM Sr. Unsec. Notes 'BB-'
-------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating and '3'
recovery rating to Mattel Inc.'s planned $600 million senior
unsecured guaranteed notes due 2027. The '3' (capped) recovery
rating indicates S&P's expectation for meaningful (50%-70%; rounded
estimate: 65%) recovery in the event of a payment default.

At the same time, S&P's 'BB-' issue-level rating remains unchanged
on the company's existing $1.5 billion senior unsecured guaranteed
notes due 2025. The recovery rating remains '3'. Mattel plans to
use proceeds from the $600 million notes to redeem its existing
$250 million senior notes without guarantees due 2020 and its
existing $350 million senior notes without guarantees due 2021. S&P
will withdraw ratings on the company's $250 million senior notes
due 2020 and $350 senior notes due 2021 when they redeem them.

S&P's estimated recovery on Mattel's aggregate $2.1 billion of
senior unsecured guaranteed notes (including the proposed $600
million issuance) would indicate substantial recovery for the
lenders and would otherwise indicate a higher recovery rating.
However, S&P has capped the recovery rating at '3' because it
generally caps its recovery ratings on issuers' unsecured debt that
it rates in the 'BB' category. The cap reflects that these
creditors' recovery prospects are at greater risk of impairment by
the issuance of additional priority or pari passu debt prior to a
default. Additionally, recovery prospects for senior unsecured
guaranteed lenders are impaired by Mattel's expansion of the amount
of senior unsecured guaranteed debt in its capital structure.
However, recovery rating remains '3' because asset coverage is
still significant and warrants it. S&P's 'B' issue-level rating
remains unchanged on Mattel's remaining aggregate $800 million of
senior unsecured notes that do not benefit from subsidiary
guarantees, with a recovery rating of '6'. The '6' recovery rating
indicates S&P's expectation of negligible (0%-10%; rounded
estimate: 0%) recovery for lenders in the event of a payment
default. The $800 million of senior unsecured notes include $250
million of notes maturing in 2023, $250 million of notes maturing
in 2040, and $300 million of notes maturing in 2041.

S&P's 'BB-' issuer credit rating on the company is unchanged. This
is despite the company's recent announcement it would restate its
2017 financial statements related to a recognition timing error of
a tax-expense item, material weaknesses in internal control over
financial reporting, its need to undertake a series of remedial
actions, and its decision to replace its chief financial officer
(CFO). Revenue and profitability trends announced in the third
quarter of 2019 are stronger than S&P's current base case
assumptions in 2019 and indicate the company's plan to turn around
its operations are on track. S&P has also assumed the restatements
and planned remedial actions are immaterial to Mattel's future cash
flow generation, and that the CFO change will not materially
disrupt the current turnaround plan.

The ratings outlook remains negative reflecting the high level of
possible variability in revenue, EBITDA, and operating cash flows
as the company recovers from the Toys "R" Us liquidation;
uncertainty regarding the success of the company's turnaround plan;
and any potential strategic shifts that could lead to increased
costs beyond S&P Global Ratings' current assumptions. The ongoing
shift in consumer purchasing behavior toward the online channel and
shoppers arriving later in retail stores during the holiday season
may also contribute to variability in operating performance. These
risk factors could result in adjusted leverage sustained above the
5x downgrade threshold in 2019 and cause S&P to lower ratings.
Additionally, although it assumes sales adjustments as a percentage
of revenue will remain elevated at about 11.5% annually, S&P's
negative outlook also reflects the potential for this measure to
deteriorate, possibly leading to further net revenue declines from
weakening demand for the company's products or as the result of a
distribution model that remains in transition. Increased tariffs on
toys made in China also presents a near-term headwind that could
result in a downgrade.

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

Simulated default scenario

-- S&P assumes the $1.6 billion asset-based loan (ABL) revolver is
60% drawn in its simulated default scenario.

-- S&P's simulated default scenario assumes a default occurring in
2023 due to a substantial decline in cash flows stemming from a
prolonged economic downturn, management missteps, or significantly
reduced demand for the company's products.

-- S&P believes that if the company were to default it would
continue to have a viable business model and that lenders would
achieve greater recovery through a reorganization than through a
liquidation of the business. Therefore, it assumes that Mattel
would reorganize following a default and use an emergence EBITDA
multiple of 6.5x to value the company.

Simplified waterfall

-- EBITDA at emergence: $465 million
-- EBITDA multiple: 6.5x
-- Net enterprise value (after administrative expenses of 5%):
$2.9 billion
-- Valuation split (obligors/nonobligors): 100%/0%
-- Collateral value available to priority debt (includes the ABL
revolver): $2.9 billion
-- Total priority debt claims (ABL revolver): $982 million
-- Residual collateral value available to senior unsecured debt
with subsidiary guarantees: $1.9 billion
-- Total senior unsecured debt claims with subsidiary guarantees
(high-yield notes): $2.2 billion
-- Recovery expectations: 50%-70% (rounded estimate: 65%
[capped])
-- Residual collateral value available to senior unsecured debt
without subsidiary guarantees: $0 million
-- Total senior unsecured debt claims without subsidiary
guarantees: $800 million
-- Recovery expectations: 0%-10% (rounded estimate: 0%)

Note: All debt amounts include six months of prepetition interest.


MCCLATCHY CO: Bankruptcy Seen as Pension Payment Looms
------------------------------------------------------
Josh Saul and Gerry Smith, writing for Bloomberg News, report that
analysts see news publisher The McClatchy Co., filing for
bankruptcy within the next year, saying the company is weighed down
by pension costs and debt.

McClatchy is facing a mandatory $124 million contribution to its
pension plan next year.  According to Bloomberg, Media analyst
Craig Huber, founder of Huber Research Partners LLC, says if
McClatchy "can't offload the pensions or get pension plan relief,
they'll have to file for bankruptcy.  Huber Research has followed
the company since 1995.

In an interview, Huber estimated McClatchy would have free cash
flow of less than $20 million next year, a fraction of what it
needs to cover its pension obligations, Bloomberg reports.  A
representative for the company declined to comment.

S&P analysts Thomas Hartman and Vishal Merani wrote in a report
that McClatchy could "engage in a distressed debt exchange or file
for Chapter 11 bankruptcy before September 2020, when the bulk of
its mandatory pension contributions are due."

McClatchy's pension plan is underfunded by about $535 million.
Bloomberg says the company asked the federal government to waive
its required contribution, but was denied.

Sacramento, California-based McClatchy operates 29 newspapers
including the Miami Herald, The Charlotte Observer and The Kansas
City Star.

According to data compiled by Bloomberg, New Jersey-based
investment fund Chatham Asset Management LLC is the largest holder
of McClatchy debt and its largest shareholder.  McClatchy has said
it is in talks with Chatham and the Pension Benefit Guaranty
Corporation about the possibility of the PBGC assuming the plan's
assets and obligations.

McClatchy is also negotiating with Chatham to restructure its debt,
including its term loans and junior notes, according to the report.
McClatchy had $709 million of principal debt outstanding as of
Sept. 29 and it finished the third quarter with $11.4 million of
cash. It refinanced debt with Chatham last year.

McClatchy has hired Evercore Group LLC, FTI Consulting Inc. and
Skadden Arps Slate Meagher & Flom LLP as advisors, the report
says.

                          About McClatchy

The McClatchy Company -- http://www.mcclatchy.com/-- operates 30
media companies in 14 states, providing each of its communities
with news and advertising services in a wide array of digital and
print formats.  McClatchy is a publisher of iconic brands such as
the Miami Herald, The Kansas City Star, The Sacramento Bee, The
Charlotte Observer, The (Raleigh) News & Observer, and the (Fort
Worth) Star-Telegram.  McClatchy is headquartered in Sacramento,
Calif., and listed on the New York Stock Exchange American under
the symbol MNI.

As of June 30, 2019, McClatchy had $1.27 billion in total assets,
$188.98 million in current liabilities,
$1.45 billion in non-current liabilities, and a shareholders'
deficit of $372.52 million.

                          *    *    *

S&P Global Ratings lowered its issuer credit rating on U.S.-based
newspaper publisher The McClatchy Co. to 'CCC-' from 'CCC+', its
issue-level ratings on the company's senior secured notes to 'CCC'
from 'B-', and its issue-level ratings on the company's senior
unsecured notes to 'C' from 'CCC-'.  The downgrade reflects the
risk that McClatchy could engage in a distressed debt exchange or
file for Chapter 11 bankruptcy.

On Nov. 13, 2019, McClatchy announced that it initiated discussions
with Pension Benefit Guaranty Corp. (PBGC) and its largest
debtholder to resolve its liquidity challenges and address its
substantial pension and debt liabilities. This follows a denial by
the Internal Revenue Service (IRS) of its request for mandatory
pension contribution relief in 2020. S&P's downgrade to 'CCC-'
reflects the expectation that McClatchy could pursue a debt
restructuring or Chapter 11 filing before September 2020 to resolve
its liquidity challenges and substantial liabilities.

Moody's Investors Service in October 2019 downgraded the Corporate
Family Rating for The McClatchy Company to Ca from Caa1, and the
Probability of Default Rating to Ca-PD from Caa1-PD primarily due
to concerns regarding the company's liquidity position in light of
the pending pension plan payments of approximately $120 million in
2020. The liquidity concerns are exacerbated by continued sustained
deterioration in the company's operating performance in the
declining newspaper publishing industry.


MCCLATCHY COMPANY: Egan-Jones Lowers Sr. Unsecured Ratings to D
---------------------------------------------------------------
Egan-Jones Ratings Company, on November 14, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by The McClatchy Company to D from C.

The McClatchy Company commonly referred to as simply McClatchy is a
publicly-traded American publishing company based in Sacramento,
California, and incorporated in Delaware.



MCDERMOTT INT'L: Egan-Jones Lowers Senior Unsecured Ratings to CCC
------------------------------------------------------------------
Egan-Jones Ratings Company, on November 13, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by McDermott International, Incorporated to CCC from
B-. EJR also downgraded the rating on commercial paper issued by
the Company to C from B.

McDermott International, Inc. is an American multinational
engineering, procurement, construction, and installation company
with operations in the Americas, Middle East, the Caspian Sea, and
the Pacific Rim. Incorporated in Panama, it is headquartered in the
Energy Corridor area of Houston, Texas.



MCL NURSING: Seeks to Hire Hansen Hunter as Financial Advisor
-------------------------------------------------------------
MCL Nursing, LLC seeks authority from the U.S. Bankruptcy Court for
the Northern District of Georgia to hire Hansen Hunter & Co., P.C.
as its financial advisor.

The services Hansen Hunter will render include the preparation of
Medicare and Medicare cost reports, billing and collections,
general accounting, financial statements, cash management and
forecasting, and financial advisory.  The firm will also provide
bankruptcy-related services, including the preparation of statement
of financial affairs and schedules, cash collateral spreadsheets
and monthly operating reports.

Hansen Hunter's fees will be 2 percent of net patient revenue of
the Debtor.  The firm will charge $2,500 for the preparation of
each Medicare cost report and $2,000 for each Medicaid cost report.


The firm's standard fees for bankruptcy assistance are:

     Partner              $275
     Billing assistance   $125 - $150
     Accountant           $150 - $200
     Accounts Payable     $75 - $125

Hansen Hunter does not represent any interest adverse to the
Debtor's bankruptcy estate, according to court filings.

The firm can be reached at:

     Dede G. Nichols
     Hansen Hunter & Co., P.C.
     8930 SW Gemini Dr
     Beaverton, OR 97008
     Phone: +1 503-244-2134

                    About MCL Nursing LLC

MCL Nursing, LLC owns and operates a skilled nursing facility in
McLoud, Okla.

MCL Nursing filed a voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ga. Case No. 19-67513) on Nov. 1,
2019.  In the petition signed by Christopher F. Brogdon, manager,
the Debtor estimated $50,000 in assets and $1 million to $10
million in liabilities.

Theodore N. Stapleton, Esq., at Theodore N. Stapleton, P.C.
represents the Debtor as counsel.


MCL NURSING: Seeks to Hire Theodore N. Stapleton as Legal Counsel
-----------------------------------------------------------------
MCL Nursing, LLC seeks approval from the United States Bankruptcy
Court for the Northern District of Georgia to hire Theodore N.
Stapleton P.C. as its legal counsel.

The firm will provide these services in connection with the
Debtor's Chapter 11 case:  

     (a) represent the Debtor with respect to its "first day"
motions;

     (b) advise the Debtor generally regarding matters of
bankruptcy law;

     (c) prepare and assist in the preparation of pleadings and
other documents necessary to the administration of the Debtor's
case;

     (d) investigate, analyze and evaluate potential claims of the
estate, including claims for recovery of avoidable transfers under
the Bankruptcy Code;

     (e) advise the Debtor concerning Chapter 11 plans and
alternatives thereto; and

     (f) represent the Debtor at hearings and conferences.

The firm will be paid its customary hourly rates:

     Attorneys      $200 - $500
     Paralegals      $50 - $150

Theodore N. Stapleton is "disinterested" within the meaning of
Section 101(14) of the Bankruptcy Code, according to court
filings.

The firm can be reached through:

     Theodore N. Stapleton, Esq.
     Theodore N. Stapleton, P.C.
     Suite 100-B, 2802 Paces Ferry Road
     Atlanta, GA 30339
     Tel: (678) 361-6211
          (770) 436-3334
     Fax: (404) 935-5344
     E-mail: tstaple@tstaple.com

                    About MCL Nursing LLC

MCL Nursing, LLC owns and operates a skilled nursing facility in
McLoud, Okla.

MCL Nursing filed a voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ga. Case No. 19-67513) on Nov. 1,
2019.  In the petition signed by Christopher F. Brogdon, manager,
the Debtor estimated $50,000 in assets and $1 million to $10
million in liabilities.

Theodore N. Stapleton, Esq., at Theodore N. Stapleton, P.C.
represents the Debtor as counsel.


MEDIQUIP INC: Seeks to Hire Berger Fischoff as Legal Counsel
------------------------------------------------------------
Mediquip, Inc. seeks approval from the U.S. Bankruptcy Court for
the Eastern District Of New York to hire Berger, Fischoff, Shumer,
Wexler, Goodman, LLP, as its legal counsel.

The firm will provide these services in connection with the
Debtor's Chapter 11 case:  

     (a) advise the Debtor of its powers and duties in the
continued management of its business and property;

     (b) represent the Debtor at hearings;

     (c) assist the Debtor in the preparation and negotiation of a
plan of reorganization; and

     (d) prepare applications, reports and other legal papers.

The firm's hourly rates are:

     Partners      $435 - $575
     Associates    $315 - $425
     Paralegals    $185

Berger Fischoff will be paid a retainer of $20,000, plus $1,717 for
the filing fee.

The firm does not represents any interest adverse to the Debtor and
its bankruptcy estate, according to court filings.

The firm can be reached through:

     Heath S Berger, Esq.
     Berger, Fischoff, Shumer,
     Wexler & Goodman, LLP
     6901 Jericho Turnpike #230, Syosset, NY 1179
     Phone: 800-806-1136
     Email: hberger@bfslawfirm.com

                 About Mediquip Inc.

Based in Bethpage, N.Y., Mediquip Inc. provides medical supplies
and equipment which are considered as Medicare chargeable items.

Mediquip filed a voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 19-77310) on Oct. 24,
2019.  At the time of the filing, the Debtor had estimated assets
of between $100,001 and $500,000  and liabilities of between
$500,001 and $1 million.

Heath S. Berger, Esq., at Berger, Fischoff, Shumer, Wexler,
Goodman, LLP, is the Debtor's legal counsel.


MIDWEST-ST. LOUIS: Hires Armstrong Teasdale as Special Counsel
--------------------------------------------------------------
Midwest-St. Louis, LLC seeks authority from the U.S. Bankruptcy
Court for the Eastern District of Missouri to hire Armstrong
Teasdale LLP as its special counsel.

The firm will provide legal services in connection with the appeal
filed by the Debtor to reverse a judgment entered by the Circuit
Court for the City of St. Louis in a case styled Christopher
Westmoreland, Respondent v. Midwest-St. Louis, LLC, Appellant, No.
ED107787.  

The firm's hourly fees are:

     Partners        $335 - $775
     Of Counsel      $300 - $575
     Associates      $225 - $405
     Paralegals      $110 - $305
     Law Clerks      $200 - $235

James Fredericks, Esq., a partner at Armstrong Teasdale, attests
that the firm neither holds nor represents any interest adverse to
the Debtor and its bankruptcy estate.

The firm can be reached through:

     James A. Fredericks
     Armstrong Teasdale LLP
     7700 Forsyth Blvd., Suite 1800
     St. Louis, MO 63105
     Tel: 314-621-5070
     Fax: 314-621-5065
     Email: jfredericks@atllp.com

                 About Midwest-St. Louis, L.L.C.

Midwest-St. Louis, LLC, owner of a gas station and convenience
store in St. Louis, filed a voluntary Chapter 11 petition (Bankr.
E.D. Mo. Case No. 19-42279) on April 12, 2019. In the petition
signed by Munji Abdeljabber, member, the Debtor estimated $50,000
in assets and $1 million to $10 million in liabilities.

The case is assigned to Judge Kathy A. Surratt-States.  Spencer P.
Desai, Esq., at Carmody MacDonald P.C., represents the Debtor as
counsel.


NATIONAL OILWELL: Egan-Jones Lowers Senior Unsecured Ratings to BB
------------------------------------------------------------------
Egan-Jones Ratings Company, on November 11, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by National Oilwell Varco Incorporated to BB from BB+.

National Oilwell Varco Incorporated is an American multinational
corporation based in Houston, Texas. It is a leading worldwide
provider of equipment and components used in oil and gas drilling
and production operations, oilfield services, and supply chain
integration services to the upstream oil and gas industry.


NJ REALTY: Trustee Seeks to Hire Lane and Nach as Special Counsel
-----------------------------------------------------------------
Kelly Hagan, Chapter 11 trustee for NJ Realty, LLC, seeks approval
from the U.S. Bankruptcy Court for the Western District of Michigan
to retain Lane and Nach, P.C. as her special counsel.

Lane and Nach will review and recommend modifications to contracts,
deeds and sale documents for the sale and transfer of real property
within the State of Arizona.

The firm's hourly rates are:

     Margaret L. Steiner       $375
     Adam Nach                 $375

Lane and Nach neither holds nor represents any interest materially
adverse to the interest of the Debtor's estate, and is a
"disinterested person" within the meaning of Section 101(14) of the
Bankruptcy Code, according to court filings.

The firm can be reached through:

     Adam Nach, Esq.
     Lane & Nach P.C.
     2001 East Campbell Avenue, #103
     Phoenix, AZ 85016
     Phone: 602-258-6000
     Fax: 602-258-6003

                    About NJ Realty, LLC

Based in Granger, Ind., NJ Realty, LLC, sought Chapter 11
protection (Bankr. W.D. Mich. Case No. 19-04266) on Oct. 8, 2019.
The case is jointly administered with six other affiliates under
Najeeb Ahmed Khan (Bankr. W.D. Mich. Lead Case No. 19-04258.) At
the time of filing, the Debtor estimated $1,000,001 to $10 million
in assets and $100,000,001 to $500 million in liabilities.

The Debtors tapped Robert F. Wardrop, II, Esq., at Wardrop &
Wardrop. P.C., as counsel.

Kelly M. Hagan was appointed as Chapter 11 trustee for the Debtors.
The trustee is represented by Kevin M. Smith, Esq., at Beadle
Smith, PLC.


NRG ENERGY: Egan-Jones Hikes Senior Unsecured Ratings to BB-
------------------------------------------------------------
Egan-Jones Ratings Company, on November 15, 2019, upgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by NRG Energy Incorporated to BB- from B.

NRG Energy, Incorporated is a large American energy company,
dual-headquartered in Princeton, New Jersey and Houston, Texas. It
was formerly the wholesale arm of Northern States Power Company,
which became Xcel Energy, but became independent in 2000. NRG
Energy is involved in energy generation and retail electricity.



OAK LAKE LLC: Seeks to Hire Hansen Hunter as Financial Advisor
--------------------------------------------------------------
Oak Lake, LLC seeks authority from the U.S. Bankruptcy Court for
the Northern District of Georgia to hire Hansen Hunter & Co., P.C.
as its financial advisor.

The services Hansen Hunter will render include the preparation of
Medicare and Medicare cost reports, billing and collections,
general accounting, financial statements, cash management and
forecasting, and financial advisory.  The firm will also provide
bankruptcy-related services, including the preparation of statement
of financial affairs and schedules, cash collateral spreadsheets
and monthly operating reports.

Hansen Hunter's fees will be 2 percent of net patient revenue of
the Debtor.  The firm will charge $2,500 for the preparation of
each Medicare cost report and $2,000 for each Medicaid cost report.


The firm's standard fees for bankruptcy assistance are:

     Partner              $275
     Billing assistance   $125 - $150
     Accountant           $150 - $200
     Accounts Payable     $75 - $125

Hansen Hunter does not represent any interest adverse to the
Debtor's bankruptcy estate, according to court filings.

The firm can be reached at:

     Dede G. Nichols
     Hansen Hunter & Co., P.C.
     8930 SW Gemini Dr
     Beaverton, OR 97008
     Phone: +1 503-244-2134

                About Oak Lake LLC

Oak Lake LLC owns and operates a skilled nursing care facility in
Grove, Okla.

Oak Lake filed a voluntary Chapter 11 petition (Bankr. N.D. Ga.
Case No. 19-67517) on Nov. 1, 2019. At the time of the filing, the
Debtor disclosed assets of between $1 million and $10 million and
liabilities of the same range.  Theodore N. Stapleton, Esq., at
Theodore N. Stapleton, P.C., is the Debtor's legal counsel.


P.P.S. TRUCKING: Seeks to Hire Fellers Snider as Legal Counsel
--------------------------------------------------------------
P.P.S. Trucking, LLC seeks approval from the U.S. Bankruptcy Court
for the Western District of Oklahoma to hire Fellers, Snider,
Blankenship, Bailey & Tippens, P.C. as its legal counsel.

The firm will advise the Debtor of its powers and duties in the
continued operation of its business and will provide other legal
services in connection with its Chapter 11 case.

Stephen Moriarty, Esq., the firm's attorney who will be handling
the case, charges an hourly fee of $420.

The firm's attorneys do not have connection with creditors or any
other party adverse to the interest of the Debtor and its
bankruptcy estate, according to court filings.

The firm can be reached at:

     Stephen J. Moriarty, Esq.
     Fellers, Snider, Blankenship, Bailey & Tippens, P.C.
     100 N. Broadway, Suite 1700
     Oklahoma City, OK 73102
     Tel: (405) 232-0621
     Fax: (405) 232-9659
     E-Mail: smoriarty@fellerssnider.com

                  About P.P.S. Trucking, LLC

P.P.S. Trucking, LLC, a provider of trucking services in Hennessey,
Okla., filed a voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Okla. Case No. 19-14563) on Nov. 7,
2019. In the petition signed by Tom Holder, vice-president, the
Debtor estimated $50,000 in assets and $10 million to $50 million
in liabilities. Stephen J. Moriarty, Esq., at Fellers, Snider,
Blankenship, Bailey & Tippens, P.C., is the Debtor's counsel.


PALOMAR HEALTH: Moody's Alters Outlook on $597MM Bonds to Positive
------------------------------------------------------------------
Moody's Investors Service affirmed Palomar Health's (PH) Ba1
revenue bond rating, affecting $597 million of rated debt. The
outlook has been revised to positive from stable.

Moody's also rates $657 million of PH's general obligation bonds,
which currently have a rating of A2. The general obligation bonds
are secured by the district's voter-approved unlimited property tax
pledge and general obligation bondholders do not have any recourse
to the hospital for payments under the bonds. Tax revenues,
payments, and principal related to the general obligation bonds
have been excluded from this analysis.

RATINGS RATIONALE

The affirmation of the Ba1 reflects its expectation that Palomar
Health will continue to benefit from certain fundamental strengths,
including its large size, leading market position, comprehensive
array of clinical offerings, and generally favorable service area.
Operations improved in fiscal 2019, following a downturn in fiscal
2018, and are expected to continue to improve in fiscal 2020 and
beyond. Ongoing challenges include: very high leverage (despite
recent improvements); modest liquidity; high level of losses at the
medical foundation; and thin headroom on one of the covenants.

RATING OUTLOOK

The positive outlook reflects the expectation that results in 2020
will show further improvement, and that liquidity and debt measures
will improve over time.

FACTORS THAT COULD LEAD TO AN UPGRADE

  - Further improvement of operating performance in line with
budgeted expectations

  - Material improvement of liquidity and debt measures

  - Favorable management of reimbursement contracts

FACTORS THAT COULD LEAD TO A DOWNGRADE

  - Return to weaker operating results

  - Decline of liquidity

  - Issuance of additional debt

LEGAL SECURITY

Revenue bonds are secured by a pledge of gross revenues of the
system and are backed by a fully funded debt service reserve fund.

PROFILE

Palomar Health is the largest public health care district in the
State of California, with over $800 million of revenues in fiscal
2019, and generating over 29,000 admissions. The district operates
acute care facilities in the towns of Escondido and Poway, and
captures 50% of the market share within the district. Palomar
Health was formerly known as Palomar Pomerado Health and changed
its name per board resolution in May 2012.

METHODOLOGY

The principal methodology used in these ratings was Not-For-Profit
Healthcare published in December 2018.


PHD GROUP: S&P Affirms 'B-' Issuer Credit Rating; Outlook Stable
----------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issuer credit rating on
Fast-casual restaurant operator PHD Group Holdings LLC (Portillo).
The outlook is stable.

Portillo is amending its capital structure, extending maturities on
its first- and second-lien loans to 2024, and upsizing its revolver
to $50 million.   S&P assigned its 'B-' issue-level rating to the
company's proposed extended first-lien term loan and its 'CCC'
issue-level rating to the company's proposed extended second-lien
term loan. The recovery ratings are '3' and '6', respectively.

The rating affirmation reflects S&P's view that very high leverage
should modestly improve over the coming years following successful
completion of the approximately three-year extension of Portillo's
term loans.  Given the very high leverage, S&P believes there is
limited room for execution errors that could reduce what it expects
to be already thinly positive cash flow generation. Furthermore,
S&P expects a reduction in the company's cash generation due to
higher interest expense following the refinancing, placing
additional importance on execution. The company's investments in
more efficient store operations and focus on improving speed of
service while preserving its culture should result in better
bottom-line performance and foster a positive customer experience.
S&P believes these efforts will drive a trend of gradually
improving margins as same-store sales continue to grow modestly
while the company leverages costs on a growing store base.
Portillo's has utilized revolver borrowings in the past; however,
the rating agency expects it to fund future growth through
internally generated cash.

The stable outlook reflects S&P's expectation that Portillo's focus
on controlling expenses while maintaining a steady pace of
restaurant growth should result in improved profitability over the
next 12 months. S&P expects the company to generate modest levels
of free operating cash flow (FOCF) as it continues to invest in new
store developments.

"If the company is unable to execute the proposed transaction, we
could lower the rating, because 2021 maturities would be looming
without clear access to credit markets, leading us to view the
capital structure as potentially unsustainable," S&P said, adding
that it could lower the rating if it does not expect the company to
generate consistently positive FOCF or to maintain adequate
liquidity, such as relying on its revolver with less than 20%
headroom on the springing-leverage covenant. For this to occur, S&P
said it would expect Portillo's to experience persistent negative
comparable sales, rising labor and commodity costs, or
weaker-than-expected operating performance in its new restaurants.

"A higher rating is unlikely and would require a fundamental change
to Portillo's capital structure, resulting in adjusted leverage
improving to below 6x on a sustained basis. To raise the rating, we
would also need to view the likelihood of a releveraging event as
unlikely," S&P said.


PITNEY BOWES: Moody's Affirms Ba2 CFR, Outlook Stable
-----------------------------------------------------
Moody's Investors Service affirmed Pitney Bowes Inc.'s Ba2
Corporate Family Rating and Ba2-PD Probability of Default Rating.
Moody's also assigned a Ba1 rating to Pitney Bowes' proposed $900
million term loan and downgraded ratings on existing senior
unsecured notes to Ba3. The outlook remains stable.

Net proceeds from the proposed secured term loan and the pending
sale of the software segment for $700 million will be used to repay
near term maturities.

Assignments:

Issuer: Pitney Bowes Inc.

Senior Secured Term Loan B, Assigned Ba1 (LGD2)

Affirmations:

Issuer: Pitney Bowes Inc.

Probability of Default Rating, Affirmed Ba2-PD

Corporate Family Rating, Affirmed Ba2

Senior Unsecured Commercial Paper, Affirmed NP

Downgrades:

Issuer: Pitney Bowes Inc.

Senior Unsecured Regular Bond/Debenture, Downgraded
to Ba3 (LGD5) from Ba2 (LGD4)

Senior Unsecured Shelf, Downgraded to (P)Ba3 from
(P)Ba2

Subordinated Shelf, Downgraded to (P)B1 from (P)Ba3

Pref. Shelf, Downgraded to (P)B2 from (P)B1

Preference Shelf, Downgraded to (P)B2 from (P)B1

Outlook Actions:

Issuer: Pitney Bowes Inc.

Outlook, Remains Stable

RATINGS RATIONALE

Debt reduction of more than $600 million with net proceeds from the
pending sale of the software business reduces Pitney Bowes'
adjusted leverage to the mid to high 4x range (or in the low 4x
range excluding the impact of recent changes to lease accounting)
which more closely aligns with levels expected when Moody's
downgraded the CFR to Ba2 in April 2019. In addition, refinancing
of near-term debt maturities with proceeds from a new term loan
raised earlier this month, plus proceeds from the proposed $900
million term loan, will provide a more manageable runway for Pitney
Bowes to continue investing to scale its ecommerce operations over
the next three years. Management confirmed its expectation that the
Global Ecommerce segment will begin to generate positive EBIT by
the end of 2020 and set Pitney Bowes on a path to margin
expansion.

Nevertheless, ratings are pressured by secular declines in the
SendTech segment (formerly domestic and international SMB mailing),
increased business risks as Pitney Bowes develops its third party
equipment financing program which partially offsets declines in
core financing tied to meter leases and rentals, and only modest
adjusted free cash flow to debt as the company invests to build
scale in its ecommerce operations. Although leverage is high,
outstanding debt balances have declined consistently since peaking
in the third quarter of 2017 as a result of the debt-financed
Newgistics, Inc. acquisition. Moody's believes Pitney Bowes has
incentives to maintain a solid credit profile to ensure good access
to the capital markets to develop third party equipment financing
while supporting existing equipment financing for meters.

The Ba2 CFR is forward looking to 2021-2022 when operating trends
and credit metrics improve to be more in line with the current
rating. Pitney Bowes benefits from its 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. Pitney
Bowes 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 third
party equipment financing, and simultaneously growing its ecommerce
businesses which require greater scale to achieve targeted top line
growth and profit margins.

Pitney Bowes has generally adhered to its financial policies while
investing in the transformation of its business model. Debt
balances have consistently declined over the past two years and
quarterly dividends were cut by 73% in February 2019. The company
suffered a ransomware attack in October 2019 that encrypted
information on some systems and disrupted customer access to
services. Management was proactive in reporting the attack and has
since restored the majority of operations and services to clients
globally. Pitney Bowes indicated that it sees no evidence that
client or employee data has been improperly accessed.

The SGL-2 liquidity rating reflects good liquidity supported by
sizable cash balances exceeding $500 million and an undrawn $500
million revolver due 2024. Moody's expects ongoing investments to
scale ecommerce operations to mute free cash flow generation over
the next 18 months.

Ratings for the senior secured term loan (Ba1) and senior unsecured
notes (Ba3) reflect the overall probability of default of Pitney
Bowes given the PDR of Ba2-PD and expectation for an average family
recovery in a default scenario. Moody's applies a one-notch
downgrade to the instrument rating for the secured term loan to Ba1
from Baa3. There would be incremental downward pressure on current
instrument ratings to the extent the company chooses to issue
additional secured debt which would reduce the percentage cushion
provided by the company's unsecured notes.

The stable outlook reflects Moody's expectations that total
revenues will grow in the low single digit percentage range over
the next 12 months with adjusted EBITDA margins remaining at
current levels. Low double digit percentage growth for ecommerce
revenue, driven by significant investment to gain necessary scale,
will offset revenue declines in the mature SendTech segment. Given
Moody's belief that third 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 third party equipment.

Ratings could be upgraded if Pitney Bowes 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 third
party equipment financing. Adjusted debt/EBITDA would need to be
maintained below 3.25x with adjusted free cash flow to debt
sustained above 2.5%.

Ratings could be downgraded if Moody's expects consolidated
revenues will decline from current levels reflecting greater than
expected weakness in mature mailing operations. Ratings could also
be downgraded if EBIT for the Global Ecommerce segment does not
turn positive by the end of 2020 or if Moody's expects adjusted
debt to EBITDA will be sustained above 4.0x (or in the mid 3x range
excluding impact of recent changes to lease accounting) after
mid-2022. 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 third party equipment financing.

As proposed, the term loan B is expected to contain covenant
flexibility for transactions that could adversely affect creditors,
including incremental facility capacity equal to (i) the greater of
$250 million and 50% of Consolidated EBITDA, and (ii) unlimited if
the First Lien Leverage Ratio is equal to or less than 2.75 times.
There are no step downs in the 100% net asset sale prepayment
requirement in the summary term sheet.

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, cross-border
ecommerce, office mailing and shipping, presort services, as well
as related services and financing. Pro forma for the pending sale
of the software segment, Moody's expects revenues to exceed $3.2
billion over the next 12 months.


PITNEY BOWES: S&P Cuts Unsec. Debt Rating to 'BB' on Subordination
------------------------------------------------------------------
S&P Global Ratings assigned its 'BBB-' issue-level rating and '2'
recovery rating to Stamford, Conn.-based commerce and mailing
technology provider Pitney Bowes Inc.'s contemplated new
seven-year, $900 million senior secured term loan. The '2' recovery
rating reflects S&P's expectation of substantial (70%-90%; rounded
estimate: 85%) recovery in a payment default. The company will use
proceeds from the new loan to repay existing indebtedness. At the
same time, S&P lowered the issue-level rating on the firm's
existing senior unsecured debt to 'BB', reflecting a revision of
its recovery rating on the unsecured debt to '5' from '3', due to
its subordination to the new secured term loans and revolver. The
'5' recovery rating reflects S&P's expectation of modest (10%-30%;
rounded estimate: 10%) recovery in a payment default. Its 'BB+'
corporate credit rating and stable outlook on Pitney Bowes are
unchanged by this transaction.

Pitney Bowes provides technology products and solutions that
support customers' digital commerce and mailing needs in the U.S.
and internationally. The company is involved in the sale, rental,
financing, and servicing of mailing equipment and supplies,
software, and postage meters, and provides revolving credit and
deposit solutions and support services. It also offers services
that support multiple aspects of e-commerce, including cross-border
shipping, fulfillment, delivery, and return services.

The 'BB+' issuer credit rating and stable outlook on Pitney Bowes
reflects S&P's expectation that proceeds from the sale of its
software business will enable the firm to maintain adjusted
leverage at or below the mid-3x area in spite of ongoing margin
pressure from declining revenues in the highly profitable Sending
Technologies business segment. S&P expects continued growth in
Commerce Services to support stable revenues through 2020 and
growing scale in global e-commerce will enable consolidated margins
to recover somewhat in 2020.

ISSUE RATINGS - RECOVERY ANALYSIS

Key Analytical Factors

-- S&P is assigning its '2' recovery rating to Pitney's senior
secured term loan B and lowering its recovery rating on the firm's
senior unsecured debt to '5' from '3', reflecting its subordination
to the firm's new loans

-- S&P's recovery valuation, which contemplates that Pitney would
be reorganized and remain a going concern, captures its view that
the company has enough intrinsic worth to support substantial
recovery for its secured creditors under the current capital
structure, even if its enterprise value were to decline
significantly.

-- S&P's simulated default scenario contemplates a default
occurring in 2024 due to a severe economic recession coupled with
an acceleration of the decline in the use of mail meters and
intense competition in the e-commerce delivery solutions market.

Simulated Default and Valuation Assumptions:

-- Year of default: 2024
-- EBITDA at emergence: $300 million
-- EBITDA multiple: 5.5x

Simplified Waterfall:

-- Net enterprise value (after 5% administrative costs): about
$1.6 billion
-- Valuation split in % (obligors/nonobligors): 70/30
-- Collateral value available to secured creditors: $1.4 billion
-- Senior unsecured debt claims: $1.6 billion
-- Recovery expectations: 70%-90% (rounded estimate: 85%)
-- Collateral value available to unsecured creditors: $170
million
-- Senior unsecured debt claims: $1.6 billion
-- Recovery expectations: 10%-30% (rounded estimate: 10%)

Note: All debt amounts include six months of prepetition interest.


PORTILLO'S HOLDINGS: Moody's Rates $432MM First Lien Loan 'B2'
--------------------------------------------------------------
Moody's Investors Service assigned B2 ratings to Portillo's
Holdings LLC's proposed amended and extended $50 million first lien
revolving credit facility and $382 million first lien term loan,
and a Caa2 rating to the company's proposed amended and extended
$105 million 2nd lien term loan. The company's B3 Corporate Family
Rating and B3-PD Probability of Default Rating were affirmed, and
the outlook remains stable.

Proceeds from the proposed amended and extended $382 million first
lien senior secured term loan and $105 million 2nd lien term loan,
along with cash of nearly $14 million, will be used to
refinance/extend the company's existing debt (including 1st and 2nd
lien term loans currently outstanding) and pay related fees and
expenses. The company's existing B2 rated senior secured 1st lien
term loan and Caa2 rated 2nd lien term loan remain unchanged and
will be withdrawn upon the close of the proposed amend and extend
transaction. The ratings are subject to the execution of the
proposed transaction and Moody's receipt and review of final
documentation.

While it is expected that the company will be paying higher
interest rates associated with the amend and extension transaction,
the affirmation of the company's B3 CFR considers the benefits of
the proposed transaction, principally pushing out the company's
debt maturity profile. "Although the company's leverage remains
high, the affirmation considers the company's adequate liquidity
profile and improved maturity profile, and Moody's expectation for
credit metric improvement from positive same store sales and new
store growth", stated Adam McLaren, Moody's Vice President-Senior
Analyst.

Assignments:

Issuer: Portillo's Holdings, LLC.

  Senior Secured Revolving Credit Facility, Assigned B2 (LGD3)

  Senior Secured 1st Lien Term Loan, Assigned B2 (LGD3)

  Senior Secured 2nd Lien Term Loan, Assigned Caa2 (LGD5)

Outlook Actions:

Issuer: Portillo's Holdings, LLC.

  Outlook, Remains Stable

Affirmations:

Issuer: Portillo's Holdings, LLC.

  Probability of Default Rating, Affirmed B3-PD

  Corporate Family Rating, Affirmed B3

RATINGS RATIONALE

Portillo's Holdings, LLC's B3 CFR is constrained by the company's
high leverage, very small scale and a geographically concentrated
restaurant base consisting of 61 units, primarily within the
Chicagoland market. Leverage, while expected to come down, will
remain elevated as the company continues to focus its cash flow on
restaurant growth, with approximately 5 new restaurant openings
expected annually. The ratings also consider risks associated with
its private equity ownership and an aggressive financial policy,
most recently evidenced by the primarily debt financed dividend
taken in late 2016. The rating is supported by the company's loyal
customer following in its core market and strong profit margins,
all of which have helped drive revenue growth, healthy unit
economics and cash flow generation. This, in turn, drives its view
that Portillo's can maintain a good liquidity position and that
capital expenditures, inclusive of new unit growth, can be funded
from internal cash generation. The company may draw on the revolver
due to timing reasons although any balance will be repaid.

The stable rating outlook reflects Portillo's good liquidity
profile, with gradual improvement in debt leverage and interest
coverage metrics over the next 12-18 months.

A ratings upgrade would require a demonstration of continued
positive operating trends, as well as financial policies and growth
strategies that will preserve a stronger quantitative credit
profile. A rating upgrade would require debt/EBITDA sustained below
5.0x.

The ratings and outlook could be negatively impacted if operating
results were to turn negative, financial policies were to become
more aggressive, or if liquidity were to erode. Ratings could be
downgraded if fixed charge coverage (measured as EBIT/interest
expense) were to fall below 1.0x

Portillo's Holdings, LLC., based in Oak Brook, Illinois, operates
61 locations primarily in the Chicagoland area under the Portillo's
Hot Dogs and Barnelli's Pasta Bowls banners. Revenue for the last
twelve-month period ended September 29, 2019 was approximately $470
million. In July 2014, private equity firm Berkshire Partners and a
co-investor purchased Portillo's from founder, Dick Portillo, in a
leveraged buyout transaction.

The principal methodology used in these ratings was Restaurant
Industry published in January 2018.


PRINCE ORGANIZATION: Oyo Hotels Deal to Fund Plan
-------------------------------------------------
According to its First Amended Disclosure Statement, Prince
Organization Nacogdoches, LLC, has a Plan of Reorganization to be
funded from revenue from business operations of the Debtor,
contributions of the owners and capital funded by an agreement with
OYO.  

The Debtor does not intend to retain its franchise with Magnuson
Hotels, operating the property instead as an OYO-branded hotel
after Confirmation of the Plan of Reorganization under an OYO
Hotels, Inc. ("OYO") franchise.  Upon rejection of its executory
contract with Magnuson, OYO will provide a source of operating
capital pursuant to the OYO Marketing, Consulting, and Revenue
Management Agreement ("Agreement").  OYO guarantees annual gross
revenues in the amount of $1,130,000  [If annual gross revenues
generated by the property exceed $1,130,000, OYO agrees to pay the
debtor those annual gross revenues, minus deductions for 8 percent
of the gross revenues.]  In the event that annual gross revenues
generated by the property are less than the guaranteed $1,130,000,
OYO agrees to pay the Debtor the  guaranteed amount of $1,130,000,
minus deductions for 8 percent of the guaranteed gross revenues
(i.e. $90,400) and 18 percent of the difference between actual
annual gross revenues and the shortfall.  The Debtor is responsible
for paying its operating expenses and payments on all of its debts.
In preparation for the transition of the property pursuant to the
Agreement, OYO will make a capital investment of $315,000 (i.e.
$2,500 for each of the property's 126 rooms).  These funds will be
made available to the Debtor (i.e.  the  "Facility Owner") in three
separate installments: 50 percent within seven days of the "Go-Live
Date", 25 percent after the terms of the first seven transformation
clauses in the Agreement are met, and 25 percent within seven days
of completion of all renovations.  The Debtor will supervise the
renovation effort and ensure that this investment is spent in such
manner that will ensure the property comports with OYO Hotel brand
standards.  Further, OYO Hotels will pay to the Debtor a franchise
incentive signing bonus in the amount of $37,800 (i.e. $300 for
each of the property's 126 rooms).  This incentive payment will be
tendered within seven days of the "Go-Live Date" and may be used at
the discretion of the Debtor.  Repayment of OYO Hotel's capital
expenditures will be included as a part of the monthly revenue
share percentages outlined in the Agreement.

The Plan proposes to treat claims and interests as follows:

   * Class 1 - Secured Tax Creditor Claims. IMPAIRED. The Class 1
Claims will be paid once Allowed over five years from the date of
the filing of the petition with interest on such amounts at the
rate of 12% per annum until paid in full.

   * Class 2 - Priority Claims. IMPAIRED. Allowed Priority Claims
will be paid once Allowed over five years with interest on such
amounts at the rate of 5% per annum until paid in full.

   * Class 3 - Secured Claim of Propel Financial Services, as Agent
and Attorney-in- Fact for Hunter Kelsey III, LLC d/b/a Propel Tax.
IMPAIRED. Because Propel is oversecured, the amount owed to Propel
relating to Propel Proof of Claims, is entitled to bear interest at
the rate of interest provided for under the 2019 Note from and
after the Petition Date and to accrue costs, charges and fees
pursuant to 11 U.S.C. § 506(b).

   * Class 4 - Secured Claim of First Choice Bank. IMPAIRED. The
Class 4 Claim is an Allowed Secured Claim and shall be paid in full
based on a 25 year amortization with interest on such amount at the
rate of 5.5% per annum.

   * Class 5 - Secured Claim of Central Laundry Equipment Inc.
IMPAIRED. The Class 5 Claim is an Allowed Secured Claim and shall
be paid in full over 5 years with interest on such amount at the
rate of 3.25% per annum.

   * Class 6 - Unsecured Creditors. IMPAIRED. Unsecured claims with
the estimated amount of $4.3 million will be paid over 60 months
based on a pro rata distribution of $2,000 a month.  The payments
will be made in equal monthly payments beginning on the first day
of the month following the Effective Date and will continue on the
first day of each month thereafter until paid pursuant to this
Plan.

   * Class 7 – Debtor's Equity. IMPAIRED. On the Confirmation
Date, all equity interests shall be retained.  Provided, however,
if the unsecured creditors vote against the Plan then: in the
interest of ensuring the Plan provides the greatest benefit to the
Debtor's creditors and equity interest holders, Debtor shall cancel
all existing equity interest in Debtor, and shall issue new equity
interests and auction them off at the Confirmation Hearing

A full-text copy of the First Amended Disclosure Statement dated
Nov. 4, 2019, is available at https://tinyurl.com/y2onbatz from
PacerMonitor.com at no charge.

Attorneys for the Debtor:

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

            - and -

     Jonathan A. Gitlin
     The Patel Law Group, PLLC
     1125 Executive Circle, Suite 200
     Irving, Texas 75038
     Main: (972) 650-6848
     Fax: (972) 650-6167
     E-mail: jgitlin@patellegal.com

               About Prince Organization Nacogdoches

Prince Organization, Nacogdoches LLC, a privately held company in
the traveler accommodation industry, sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tex. Case No.
19-90145) on June 3, 2019.  At the time of the filing, the Debtor
was estimated to have assets of between $1 million and $10 million
and liabilities of the same range.  The Debtor is represented by
Joyce W. Lindauer Attorney, PLLC and The Patel Law Group, PLLC.


PROAMPAC PG: S&P Lowers ICR to 'B-'; Outlook Stable
---------------------------------------------------
S&P Global Ratings downgraded ProAmpac PG Intermediate LLC to 'B-'
from 'B'. At the same time, S&P lowered its issue-level rating on
the company's first-lien credit facilities to 'B-' from 'B'. The
'3' recovery rating remains unchanged, indicating its expectation
for meaningful recovery (50%-70%; rounded estimate: 50%) in the
event of a default.

S&P also lowered its issue-level rating on the company's
second-lien credit facilities to 'CCC' from 'CCC+'. The '6'
recovery rating remains unchanged, indicating S&P's expectation for
negligible recovery (0%-10%; rounded estimate: 0%) in the event of
a default.

While S&P anticipates the soft demand for the company's products
will persist, the rating agency expects price increases and lower
integration and restructuring costs to support modest EBITDA
growth.  S&P's downgrade reflects the company's weaker than
expected operating performance due to softer demand across the
majority of its end markets (i.e. food, industrials, etc.) and
higher-than-expected integration and restructuring charges
associated with its previously completed acquisitions, which have
increased its leverage well above 7x. Over the next 12 months, S&P
expects the softness in ProAmpac's demand to persist with its sales
volumes remaining flat to declining by the low single digit percent
area. While the company has secured some recent new business wins,
S&P believes these will only slightly offset the overall weakness
across the majority of its end markets.

The stable outlook on ProAmpac reflects S&P's expectation that
flat-to-modest organic sales growth and the pass through of various
acquisition-related integration and restructuring costs will drive
a moderate improvement in its operating margins and support
continued positive free cash flow generation. S&P does not expect
the company to pursue any sizeable acquisitions over the next 12
months until it reduces its outstanding revolver borrowings and
materially deleverages. It expects ProAmpac to maintain an adjusted
debt-to-EBITDA ratio of more than 7x over the next 12 months, which
-- combined with its consistent free cash flow generation -- S&P
views as appropriate for the current rating.

"We could lower our ratings on ProAmpac if deteriorating operating
performance constrains its liquidity position. Specifically, sharp
increases in raw material costs or weaker demand trends could
strain the company's profitability and liquidity. We could also
downgrade the company if its springing senior net leverage covenant
tightens further with no near-term prospects for a remedy," S&P
said.

"Although unlikely, we could raise our ratings on ProAmpac if its
adjusted debt to EBITDA declines well below 7x on a sustained
basis. This could occur if the company's sales growth and operating
margins improve by 200 basis points relative to our base-case
assumptions. However, we would also require the company and its
financial sponsor to commit to financial policies that support
these improved metrics inclusive of potential acquisitions and
shareholder rewards," the rating agency said.


PUSHMATAHA COUNTY: Has Court OK on IPFS Insurance Financing
-----------------------------------------------------------
Pushmataha County - City of Antlers Hospital Authority obtained
approval from Judge Tom R. Cornish of the Bankruptcy Court for the
Eastern District of Oklahoma to enter into and perform under
Insurance Premium Financing Agreement with IPFS Corporation.

Previously, the Debtor asked the Court for permission to obtain a
general liability insurance policy (to renew its insurance policy),
seeking to pay $6,862 in downpayment to IPFS Corporation towards
the total premium cost of $27,448 due under the Policy.  IPFS
agreed to finance the remaining $20,586 of the policy premium at an
annual rate of 15.094%, plus $1,4950.90 finance charge.  

As security for the Debtor's obligations under the Premium Finance
Agreement, IPFS is granted a security interest in:
   (a) all money that is or may be due insured because of a loss
under any such policy that reduces the unearned premiums;
   (b) any unearned premium under each said policy;
   (c) dividends which may become due insured in connection with
any such policy; and
   (d) interests arising under a state guarantee fund.

In the event that the Debtor defaults under the terms of the
Agreement, IPFS may cancel the policies listed in the Agreement or
any amendment thereto and receive and apply the unearned or return
premiums to the account of the Debtor upon 10 calendar days' prior
written notice to the Debtor, to InterBank and the USDA.  The lien
granted in connection with the Policy will be senior to any
security interests and/or liens granted to any other secured
creditors in the Debtor's case.

                     About Pushmataha County

Pushmataha County - City of Antlers Hospital Authority filed a
Chapter 9 petition (Bankr. E.D. Okla. Case No. 16-81001) on Sept.
23, 2016.  The petition was signed by David Smith, chairman.  The
Debtor is represented by Jeffrey E. Tate, Esq., at Christensen Law
Group, P.L.L.C. The Debtor estimated assets at $0 to $50,000 and
liabilities at $1 million to $10 million at the time of the
filing.

The Debtor is a public trust that operates Pushmataha Hospital
located in Antlers, Oklahoma. The Hospital is a 25 bed, general
medical hospital in Antlers, Oklahoma. It provides a wide array of
in-patient and out-patient health care services. The Hospital's
24-hour emergency department treats approximately 5,000 patients
annually. The emergency department has four beds, including one
trauma room. It is supported by 24-hour coverage of testing
facilities, including laboratory and radiology.


PYXUS INT'L: Egan-Jones Lowers Sr. Unsecured Ratings to CC
----------------------------------------------------------
Egan-Jones Ratings Company, on November 15, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Pyxus International Incorporated to CC from CCC. EJR
also downgraded the rating on commercial paper issued by the
Company to D from C.

Pyxus International, Incorporated operates as an agricultural
company. The Company delivers value-added products and services in
leaf tobacco, e-liquids, industrial hemp, and legal cannabis
industries. Pyxus International serves customers in the United
States.


QUITMAN COUNTY: Unsecureds to Get Net Operating Income for 3 Years
------------------------------------------------------------------
Quitman County Development Organization, Inc., filed with the U.S.
Bankruptcy Court for the Northern District of Mississippi a plan of
reorganization and a disclosure statement.

Because of the assets in the Debtor's business and condition of
their, the Debtor projects that, at foreclosure, secured creditors
would receive no more than 50% of the Debtor's value for the
collateral in this case.  In numerous instances, the Debtor has
observed that, post-foreclosure, many assets simply sit idle,
subject to vandalism and deterioration that occurs from lack of
repairs.

The Debtor's properties that are to be liquidated are not pristine,
prime real estate improved properties in wonderful locations.  In
many instances, they need substantial improvements which the Debtor
cannot afford.  However, the Debtor believes that selling the
properties through a meaningful marketing campaign, perhaps with a
broker and ultimately, perhaps with an auctioneer, will fully test
the market much better than if the properties were foreclosed.
Foreclosure results would yield, the Debtor believes, only 15% to
20% of the value the Debtor can receive if it markets these
properties.

To the extent the USDA holds property as collateral, the Debtor
will go about the business of liquidating all of the real property
collateral with the exception of its office building and any other
property that is essential to its continuing its operation.  And,
to the extent the USDA is perfected with respect to that property,
it will receive the proceeds less costs of marketing the property
and cost of securing a purchaser, and having the purchaser and sale
approved by an order of this court.

Once all of the property that is to be liquidated has been disposed
of, the Debtor will update its schedules and provide for the amount
of the general unsecured claims.  Unsecured creditors will receive
the net operating income of the Debtor for the three-year life of
the Plan.

There are no security holders in connection with a non-profit
entity.

A full-text copy of the Disclosure Statement dated Nov. 5, 2019, is
available at https://tinyurl.com/y6p5mrbl from PacerMonitor.com at
no charge.

              About Quitman County Development Organization

Quitman County Development Organization, Inc., filed a Chapter 11
bankruptcy petition (Bankr. N.D. Miss. Case No. 19-10967) on March
6, 2019.  The Debtor hired the Law Offices of Craig M. Geno, PLLC,
as attorney.


QUORUM HEALTH: Moody's Lowers CFR to Caa2, Outlook Negative
-----------------------------------------------------------
Moody's Investors Service downgraded the ratings on Quorum Health
Corporation, including the Corporate Family Rating to Caa2 from B3
and Probability of Default Rating to Caa2-PD from B3-PD. Moody's
also downgraded the ratings on Quorum's senior secured revolving
credit facility and term loan to Caa1 from B1, and the rating on
its unsecured notes to Caa3 from Caa2. The rating agency also
downgraded the Speculative Grade Liquidity Rating to SGL-4 from
SGL-3. The outlook is negative.

The downgrade of the CFR reflects growing uncertainty as to whether
Quorum's divestiture plan will be completed in the months ahead and
when the company's earnings will rebound. Moody's believes that the
magnitude of any earnings improvement will be highly contingent on
the successful execution of both divestiture efforts and plans to
augment its revenue cycle management. The migration of Quorum's
challenged billing and collections off of its transition services
agreement with CHS/Community Health Systems, Inc. (Caa3 stable)
became effective October 1, 2019. Going forward, R1 RCM Inc., a
provider of revenue cycle management services, should provide an
immediate improvement in collection trends. The downgrade reflects
the high execution risk associated with these plans, growing
concerns over the company's ability to comply with its credit
agreement covenant after it steps down in 2020, and rising
refinancing risk if operating trends do not significantly improve
in the next 3-6 months.

Ratings downgraded:

Quorum Health Corporation

  Corporate Family Rating to Caa2 from B3

  Probability of Default Rating to Caa2-PD from B3-PD

  Senior secured revolving credit facility expiring
  2021 to Caa1 (LGD3) from B1 (LGD3)

  Senior secured term loan due 2022 to Caa1 (LGD3)
  from B1 (LGD3)

  Global notes due 2023 to Caa3 (LGD5) from Caa2 (LGD5)

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

The outlook is negative.

RATINGS RATIONALE

Quorum's Caa2 Corporate Family Rating reflects the company's very
high financial leverage and high interest costs which severely
constrain cash flow. The rating is also constrained by Quorum's
moderate scale, concentration of profits in a few markets, growing
refinancing risk, and cash flow volatility created by exposure to
state supplemental Medicaid programs. Delays associated with
efforts to divest underperforming hospitals and implement
efficiency efforts will limit Quorum's ability to improve operating
performance over the near-term. Supporting the Caa2 CFR is Quorum's
position as the sole provider in many of its markets, limiting
competition. The company has shifted its strategy in the last year
to focus more on hospital profitability than revenue growth.

The negative outlook reflects the high execution risk associated
with Quorum transitioning its revenue cycle management functions to
a new provider and advancing its initiative of divesting
underperforming hospitals. It also reflects uncertainty relating to
Quorum's ability to migrate its IT and other systems off of the
transition services agreements (TSAs) that it still has with
Community Health over the next 12-18 months without significant
disruption to its operations.

The SGL-4 reflects the company's low cash balances and weak cushion
under the financial covenant governing its credit agreement which
limits access to its revolving credit facility. It also reflects
Moody's growing concern about the company's ability to remain in
compliance with the secured net leverage covenant governing the
senior secured credit facility.

With respect to governance, Quorum's has had a number of management
and strategy changes within the last two years, which have to date
not shown evidence of being successful. Further, the company has
been unable to demonstrate a consistent track record for meeting
its own financial guidance. As a for-profit hospital operator,
Quorum also faces high social risk. The affordability of hospitals
and the practice of balance billing has garnered substantial social
and political attention. Hospitals are now required to publicly
provide the list price of all of their services, although
compliance and practice is inconsistent across the industry.
Additionally, hospitals rely on Medicare and Medicaid for a
substantial portion of reimbursement. Any changes to reimbursement
to Medicare or Medicaid directly impacts hospital revenue and
profitability. In addition, the social and political push for a
single payor system would drastically change the operating
environment. As Quorum is focused on non-urban communities, over
time slow population growth tempers the company's capacity to grow
admissions. Implementing strategy changes in a rural hospital is
often met with community backlash, which can make it difficult to
sell, close or otherwise reduce services in order to improve
profitability.

The ratings could be downgraded if liquidity does not improve from
current levels. Further, an inability to sell assets at valuations
that facilitate deleveraging could result in downward rating
pressure. Sustained negative admissions trends at core hospitals or
failure to generate substantial savings from cost initiatives would
also pressure the ratings. Finally, increasing concern about the
company's ability to refinance its capital structure well ahead of
maturities would also result in a downgrade.

The ratings could be upgraded if Quorum is able to alleviate near
and intermediate term liquidity pressures and materially improve
operating performance and sustain debt to EBITDA below 8.0 times.

Quorum Health Corporation is an operator and manager of hospitals
and outpatient services in non-urban areas of the US. The company
operates 24 hospitals in 14 states. The company also manages
non-affiliated hospitals, through its Quorum Health Resources
subsidiary. Quorum recognized revenue of approximately $1.8 billion
for the year ended September 30, 2019.

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


RELIABLE ASSOCIATES: Unsecureds to Recover 50% in 5 Years
---------------------------------------------------------
RELIABLE ASSOCIATES, INC., filed a Chapter 11 Plan that will be
funded from future income derived from operation of Debtor's
business post-petition.

Melvin Bell, officer, director and sole shareholder of Debtor, who
manages the Debtor's day-to-day business operations shall continue
to serve as an officer, director and shareholder of the reorganized
Debtor at the rate of compensation approved by this Court.  Renee
Bell, an insider of Debtor, shall continue to be an employee of the
reorganized Debtor at the rate of compensation approved by this
Court.

The Plan only has two classes:

   * Unsecured creditors who are not insiders (Class 1) will be
paid 50% payable in five equal annual payments with the first
payment to be paid July 1, 2020.

   * The equity holders (Class 2) will retain their equity
interests and will not contribute new value to the reorganized
debtor.

A full-text copy of the Disclosure Statement dated November 04,
2019, is available at https://tinyurl.com/yygkb6xv from
PacerMonitor.com at no charge.

Attorney for the Debtor:

     David W. Steen
     DAVID W. STEEN, P.A.
     Post Office Box 270394
     Tampa, FL 33688
     Telephone: (813) 251-3000
     Email: dwsteen@dsteenpa.com

                     About Reliable Associates

Reliable Associates, Inc., operator of a temporary labor personnel
staffing business, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 19-06476) on July 10,
2019.  At the time of the filing, the Debtor had estimated assets
of less than $50,000 and liabilities of less than $500,000.  The
case is assigned to Judge Catherine Peek Mcewen.  The Debtor is
represented by David W. Steen, P.A.


RIOT BLOCKCHAIN: Incurs $1.83 Million Net Loss in Third Quarter
---------------------------------------------------------------
Riot Blockchain, Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $1.83 million on $1.74 million of total revenue for the three
months ended Sept. 30, 2019, compared to a net loss of $6.53
million on $2.37 million of total revenue for the three months
ended Sept. 30, 2018.

For the nine months ended Sept. 30, 2019, the Company reported a
net loss of $16.86 million on $5.64 million of total revenue
compared to a net loss of $47.53 million on $6.16 million of total
revenue for the nine months ended Sept. 30, 2018.

As of Sept. 30, 2019, the Company had $32.98 million in total
assets, $4.79 million in total liabilities, and $28.19 million in
total stockholders' equity.

The Company has experienced recurring losses and negative cash
flows from operations.  At Sept. 30, 2019, the Company had
approximate balances of cash and cash equivalents of $15.2 million,
digital currencies of $3.2 million, working capital of $16.5
million, total stockholders' equity of $28.2 million and an
accumulated deficit of $213.8 million.  To date, the Company has,
in large part, relied on equity and debt financing to fund its
operations.

The Company expects to continue to incur losses from operations for
the near-term and these losses could be significant as the Company
incurs costs and expenses associated with recent and potential
future acquisitions, and development of the RiotX exchange
platform, as well as public company, legal and administrative
related expenses being incurred.  During January 2019, the Company
issued a series of Senior Secured Convertible Promissory Notes, to
investors for an aggregate principal amount of $3,358,333 and an
equal value of warrants for the purchase of shares of the Company's
common stock in exchange for a total investment of $3,000,000.
During the nine months ended Sept. 30, 2019, all of the Notes were
converted into common stock and have been satisfied in full.  The
Company is closely monitoring its cash balances, cash needs and
expense levels.  The Company believes its current cash on hand is
sufficient to meet its operating and capital requirements for at
least the next twelve months from the date these financial
statements are issued.

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

                       https://is.gd/cYm6Ev

                       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 June 30,
2019, the Company had $30.96 million in total assets, $4.82 million
in total liabilities, and $26.13 million in total stockholders'
equity.

Marcum LLP, in New York, 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.


ROVIG MINERALS: Court Approves Continued Employment of Contractors
------------------------------------------------------------------
Rovig Minerals, Inc., received an order from the U.S. Bankruptcy
Court for the Western District of Louisiana approving the continued
employment of its contractors, Sylvia Cook and Tori St. Pe'.

Ms. Cook is a contractor and has been with the Debtor since March
2016.  She is currently contracted as the Land Department and
Regulatory Manager.  Meanwhile, Ms. Pe' is currently contracted to
provide assistance to Ms. Cook.

Ms. Cook has agreed to reduce her daily rate from $325 per diem to
$200 per diem.  Ms. Pe' will be paid at a per diam rate of $200,
according to court filings.

                       About Rovig Minerals

Rovig Minerals, Inc. -- http://www.rovigminerals.com/-- was
founded in 1980 in Billings, Mont., to pursue exploration and
development of mineral, oil and gas projects around the world.

On Sept. 25, 2019, creditors FDF Energy Services LLC, Tri-City
Services Inc., Oil Country Tubular Corp., DH Rock Bit Inc., Aldonsa
Inc. filed an involuntary Chapter 11 petition against the Debtor
(Bankr. W.D. La. Case No. 19-51133).  The creditors are represented
by Michael A. Crawford, Esq., at Taylor, Porter, Brooks &
Phillips.

On Oct. 18, 2019, the Debtor and the Petitioning Creditors signed a
joint stipulation to convert the involuntary to a voluntary chapter
11 and for entry of a consent order for relief pursuant to 11
U.S.C. Sec. 303(h)(1).

The case is assigned to Judge John W. Kolwe.  

The Debtor tapped H. Kent Aguillard, Esq., and Caleb Aguillard,
Esq., as its bankruptcy attorneys.


ROVIG MINERALS: U.S. Trustee Forms 3-Member Committee
-----------------------------------------------------
David Asbach, acting U.S. trustee for Region 5, on Nov. 19, 2019,
appointed creditors to serve on an official committee of unsecured
creditors in the Chapter 11 cases of Rovig Minerals, Inc. and Rovig
Minerals, LLC.
  
The committee members are:

     (1) Justiss Oil Company, Inc.
         J.F. Justiss, III
         P.O. Box 2990
         Jena, LA 71342
         318-992-7208
         jimjustiss@justissoil.com

     (2) Lynx Production Services, Inc.
         808 Prevost Drive
         Houma, LA 70364

     (3) Tim Carson
         281 Ibis St.
         Fort Myers Beach, FL 33931
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                       About Rovig Minerals

Rovig Minerals, Inc. -- http://www.rovigminerals.com/-- was
founded in 1980 in Billings, Mont., to pursue exploration and
development of mineral, oil and gas projects around the world.

On Sept. 25, 2019, creditors FDF Energy Services LLC, Tri-City
Services Inc., Oil Country Tubular Corp., DH Rock Bit Inc., Aldonsa
Inc. filed an involuntary Chapter 11 petition against the Debtor
(Bankr. W.D. La. Case No. 19-51133).  The creditors are represented
by Michael A. Crawford, Esq., at Taylor, Porter, Brooks & Phillips.


On Oct. 18, 2019, the Debtor and the Petitioning Creditors signed a
joint stipulation to convert the involuntary to a voluntary chapter
11 and for entry of a consent order for relief pursuant to 11
U.S.C. Sec. 303(h)(1).

The case is assigned to Judge John W. Kolwe.

The Debtor tapped H. Kent Aguillard, Esq., and Caleb Aguillard,
Esq., as its bankruptcy attorneys.



SALEM MEDIA: S&P Alters Outlook to Negative, Affirms 'B-' ICR
-------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issuer credit rating on
U.S.-based radio broadcaster Salem Media Group Inc. At the same
time, S&P revised its rating outlook to negative from stable.

Salem must stabilize its revenue trends and repay debt to prevent
its capital structure from becoming unsustainable.  The negative
outlook reflects S&P's expectation that Salem's block programming
and digital media advertising (excluding local marketing) will
likely continue to face pressure over the next 12 months, and the
company has limited ability to offset these declines with streaming
and network revenue growth. Salem's revenue declines over the past
three years have led to the company's reported EBITDA margin
declining by roughly 450 basis points and its DCF nearing
break-even levels. It will be difficult to offset future declines
in EBITDA with debt repayment unless the company stabilizes and
increases revenue, even if it cuts its dividend, which would
provide about $7 million of additional DCF. S&P believes the
company will continue pursuing non-core asset sales, but the timing
and valuation of such sales are uncertain. If the company is not
able to repay over $10 million of debt per year while roughly
maintaining its current EBITDA base, S&P believes it will be
difficult for the company to refinance its capital structure before
its senior secured notes are due in 2024."

The negative outlook reflects S&P's expectation that Salem will
generate minimal DCF and leverage will increase to the mid-6x area
over the next 12 months, as EBITDA declines outpace debt repayment
and the company becomes dependent on non-core asset sales or
improving revenue trends to reduce leverage.

"We could lower the rating if the company were not able to
stabilize revenue trends and we expected annual DCF would remain
below $10 million on a sustained basis, even if the company
eliminated the dividend. This level of cash flow would not allow
the company to repay enough debt to offset the secular decline in
broadcast radio and publishing, leading to an unsustainable capital
structure," S&P said.

"We could revise our outlook back to stable if revenue growth
stabilized and we expected Salem would be able to consistently
generate DCF of over $10 million per year and reduce leverage to
below 5x before it has to refinance its senior secured notes due in
2024. This could also occur if the company executed significant
deleveraging asset sales and eliminated its dividend to achieve the
same result," S&P said.


SARAH AIR: Trustee Taps Jetstream Aviation as Special Counsel
-------------------------------------------------------------
Kelly Hagan, Chapter 11 trustee for Sarah Air, LLC, seeks approval
from the U.S. Bankruptcy Court for the Western District of Michigan
to retain Jetstream Aviation Law, P.A. as her special counsel.

Jetstream Aviation will prepare contracts and sale documents for
the sale and transfer of aircraft in accordance with federal law
and FAA regulations.  The firm's customary hourly rates for its
services are:

     Michelle M. Wade      $510
     Lori N. McGee         $460
     Legal Assistants      $330

The firm holds a retainer in the amount of $10,053.

Jetstream Aviation neither holds nor represents any interest
materially adverse to the interest of the Debtor's estate,
according to court filings.

The firm can be reached through:  

     Michelle M. Wade, Esq.
     Jetstream Aviation Law, P.A.
     1832 E 153rd Circle
     Olathe, KS 66062
     Phone: 913-777-4538
     Email: MWADE@JETSTREAMLAW.COM

                   About Sarah Air, LLC

Sarah Air, LLC, an air conditioning contractor in Pinellas Park,
Fla., sought Chapter 11 protection (Bankr. W.D. Mich. Case No.
19-04268) on Oct. 8, 2019, listing under $1 million in both assets
and liabilities.  The case is jointly administered with six other
affiliates under Najeeb Ahmed Khan (Bankr. W.D. Mich. Lead Case No.
19-04258.) The Debtor tapped Robert F. Wardrop, II, Esq., at
Wardrop & Wardrop. P.C., as counsel.

Kelly M. Hagan was appointed as Chapter 11 trustee for the Debtor.
The trustee is represented by Kevin M. Smith, Esq., at Beadle
Smith, PLC.


SERVICE PAINTING: Unsecureds to Recover 40% in 5 Years
------------------------------------------------------
According to its Amended Disclosure Statement, debtor Service
Painting, Inc., is proposing a Chapter 11 Plan of Reorganization
which provides that payments to general unsecured creditors will
not begin until the payments to the IUPAT and the IUPAT Pension
Fund are complete, meaning that payment to general unsecured
creditors will not commence until Feb. 1, 2023.

General Unsecured Claims in the aggregate amount of $393,803.75
(Class 5) will receive distributions semi-annually in equal
installments of an amount not less than $39,795.00 commencing on
Feb. 1, 2023, and concluding two years from that date.  The
percentage dividend to be received by the class of Allowed
Unsecured Claims shall be approximately 40%.

Interest holder, Nikitas Garavelas, will retain his interest in the
Debtor. Interest holder, Christo Garavelas, will not retain his
interest in the Debtor, which shall be deemed to be cancelled and
extinguished on the effective date. In order for an owner to keep
its equity interest, the owner must provide new value.

The Plan will be funded by the continued operations of the Debtor
and contributions to be made by Nikitas Garavelas.  The $50,000
contribution of Mr. Garavelas will be in the form of cash or cash
equivalent paid to the Debtor on the effective date.  The
contribution is necessary to the reorganization in that the $50,000
will increase the percentage dividend paid to general unsecured
creditors.

A full-text copy of the Amended Disclosure Statement dated Nov. 5,
2019, is available at https://tinyurl.com/y4ectqvy from
PacerMonitor.com at no charge.

                     About Service Painting

Service Painting, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Pa. Case No. 18-16843) on Oct. 13,
2018. At the time of the filing, the Debtor was estimated to have
assets of less than $1 million and liabilities of less than $1
million. Judge Eric L. Frank oversees the case.  The Debtor tapped
Kurtzman Steady, LLC, as its legal counsel.


SHAPPHIRE RESOURCES: Disclosure Hearing Reset to January 15, 2020
-----------------------------------------------------------------
Judge Robert Kwan of the U.S. Bankruptcy Court for the Central
District of California, Los Angeles Division, approved the
stipulation to continue chapter 11 status conference and extend
deadline for debtor Shapphire Resources, LLC to file an amended
disclosure statement and an amended plan of reorganization.

Pursuant to the stipulation, the Court set these dates and
deadlines:

    * the chapter 11 Status Conference and the hearing to consider
the adequacy of the disclosure statement is continued from Dec. 11,
2019, at 11:00 a.m., to Jan. 15, 2020, at 11:00 a.m., in courtroom
1675 of the United States Bankruptcy Court for the Central District
of California, Los Angeles Division, located at 255 East Temple
Street, Los Angeles, California 90012; and

    * the deadline for Shapphire Resources, LLC to file and serve
its amended disclosure statement and amended chapter 11 plan is
extended from Nov. 4, 2019, to Dec. 9, 2019.

The Debtor is represented by:

      RAYMOND H. AVER
      LAW OFFICES OF RAYMOND H. AVER
      A Professional Corporation
      10801 National Boulevard, Suite 100
      Los Angeles, California 90064
      Telephone: (310) 571-3511
      E-mail: ray@averlaw.com

                    About Shapphire Resources

Shapphire Resources, LLC's principal assets are located at 2770
Cold Plains Drive Hacienda Heights, CA 91745.

Shapphire Resources previously filed for bankruptcy protection
(Bankr. C.D. Cal. Case No. 10-57493) on Nov. 4, 2010.

Shapphire Resources filed a Chapter 11 bankruptcy petition (Bankr.
C.D. Cal. Case No. 17-15033) on April 24, 2017.  In the petition
signed by Susan Tubianosa, manager, the Debtor was estimated to
have $1 million to $10 million in both assets and liabilities.  The
Hon. Neil W. Bason oversees the case.  The Law Offices of Raymond
H. Aver, a professional corporation, represents the Debtor.


SINCLAIR TELEVISION: Moody's Rates $500MM Sr. Unsec. Notes 'B1'
---------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to Sinclair
Television Group, Inc's $500 million senior unsecured notes due
2030. The proceeds of the senior unsecured notes will be used to
fully redeem Sinclair's $500 million, 6.125% senior unsecured notes
due 2022. Sinclair's Ba3 corporate family rating and Ba3-PD
probability of default rating, along with the company's Ba2 and B1
ratings on the existing senior secured credit facilities and senior
unsecured notes, respectively, are unaffected by the transaction.
The outlook is unchanged at stable.

Moody's expects the transaction to be marginally credit positive.
Sinclair will benefit from a longer maturity profile and some
reduction in interest expense, which will slightly improve the
company's cash flows.

Assignments:

Issuer: Sinclair Television Group, Inc

  Senior Unsecured Notes, Assigned B1 (LGD5)

RATINGS RATIONALE

Sinclair's Ba3 rating continues to reflect the company's strong
position within the US broadcasting industry which continues to
grow at a healthy mid-single digit rate supported by retransmission
fee increases more than offsetting softness in national TV
advertising demand. Sinclair is also well positioned to benefit
from political TV advertising spend which is expected to reach
record levels in the run-up to the 2020 US presidential election.

Sinclair's financial policy tolerates moderately high leverage. The
Ba3 CFR reflects Moody's expectations that, pro-forma for the
diamond acquisition, 2019 leverage Moody's-(adjusted and on a
two-year EBITDA average basis) is expected to be around 5.1x.

Overall social risk for Sinclair is moderate in line with the wider
broadcast sector. The key risk for broadcasters lies in evolving
demographic and societal trends and potential changes in consumer
preferences in particular in the way people choose to consume
media.

The stable outlook reflects Moody's expectations that Sinclair will
continue to operate within a leverage range commensurate with its
Ba3 rating and that the company will continue to have good
liquidity.

Ratings could be upgraded if leverage (Moody's adjusted and on a
two-year average) were sustained comfortably below 4.25x and free
cash flow to debt (Moody's adjusted) were to be maintained above
10%. A positive rating action would also be contingent on
maintaining good liquidity.

Ratings could be downgraded if leverage (Moody's adjusted and on a
two-year average) were to exceed 5.5x, or free cash flow-to-debt
(Moody's adjusted) were to fall below 5%. Deterioration in the
company's liquidity could also put pressure on the ratings.

The principal methodology used in this rating was Media Industry
published in June 2017.

Sinclair Television Group, Inc, headquartered in Hunt Valley, MD
and founded in 1986, is a leading U.S. television broadcaster. As
of 30 September 2019, the company owns and/or operates 191
television stations across 89 markets, broadcasting more than 600
channels across the U.S. The station group reaches approximately
25% of the US population (taking into account the UHF discount).
The affiliate mix is diversified across primary and digital
sub-channels including ABC, CBS, NBC, and Fox. The company also
owns a local cable news network in Washington D.C., four radio
stations and the Tennis Channel. Members of the Smith family
exercise control over most corporate matters of Sinclair Broadcast
Group, Inc., Sinclair Television Group, Inc's ultimate parent, with
four of the nine board seats and approximately 77% of voting rights
(through the dual class share structure). Consolidated net revenue
for the 12 months ended 30 September 2019 was approximately $2.9
billion.


SINCLAIR TELEVISION: S&P Rates New $500MM Sr. Unsecured Notes 'B'
-----------------------------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating and '6'
recovery rating to Sinclair Broadcast Group Inc. (SBG) subsidiary
Sinclair Television Group Inc.'s (STG) proposed $500 million senior
unsecured notes due in 2030.

The '6' recovery rating indicates S&P's expectation for negligible
(0%-10%; rounded estimate: 0%) recovery for lenders in the event of
a payment default. Sinclair plans to use the proceeds to repay
STG's $500 million 6.125% senior unsecured notes due in 2022.

S&P's 'BB-' issuer credit rating and positive outlook on Sinclair
are unchanged because the proposed transaction will not affect net
leverage.

ISSUE RATINGS--RECOVERY ANALYSIS

Sinclair issues its debt at its operating subsidiaries, STG and
Diamond Sports Group LLC, which S&P analyzes separately to
determine recovery prospects.

Key analytical factors

-- Following the transaction, STG will be the borrower of a $650
million senior secured revolving credit facility maturing in 2024,
a $1.3 billion senior secured term loan B maturing in 2024, a $1.3
billion senior secured term loan B maturing in 2026, and $1.8
billion of senior unsecured notes with maturities ranging from 2022
through 2024.

-- STG's senior secured debt is guaranteed by SBG, designated
subsidiaries of SBG (excluding Diamond Sports Holdings LLC and its
subsidiaries), and STG's material subsidiaries. The senior secured
debt is secured by substantially all of STG's assets and those of
its guarantors (with certain exceptions including FCC licenses).

Simulated default assumptions

-- S&P's simulated default scenario contemplates a default in 2023
because of a larger-than-expected drop in EBITDA in a nonelection
year, increased competition from alternative media, a prolonged
decline in advertising revenue due to economic weakness, a failure
to generate retransmission revenue commensurate with its local
market and relevant television networks, and pressure from
affiliated networks to remit a significant portion of its
retransmission fees.

-- Other default assumptions include an 85% draw on the revolving
credit facility, LIBOR is 2.5%, the spread on the revolving credit
facility rises to 5% as covenant amendments are obtained, and all
debt includes six months of prepetition interest.

-- S&P values STG on a going-concern basis using a 7x multiple of
its projected emergence EBITDA, which is in line with the multiples
it uses for the other large television broadcasters it rates.

Simplified waterfall

-- EBITDA at emergence: $445 million
-- EBITDA multiple: 7x
-- Gross recovery value: $3.1 billion
-- Net recovery value for waterfall after administrative expenses
(5%): $3 billion
-- Value available for senior secured debt claims: $3 billion
-- Estimated senior secured debt claims: $3.2 billion
    --Recovery range: 90%-100% (rounded estimate: 90%)
-- Value available for senior unsecured debt claims: negligible
-- Estimated senior unsecured debt claims: $1.8 billion
    --Recovery range: 0%-10% (rounded estimate: 0%)



SIW HOLDING: Unsecureds to Get 1%-8% in Committee-Backed Plan
-------------------------------------------------------------
SIW Holding Company, Inc., and their Official Committee of
Unsecured Creditors on Feb. 4, 2020, will seek confirmation of
their proposed Plan of Liquidation.  Objections are due Jan. 27,
2020.

The Plan provides for the liquidation and distribution of all of
the Debtors' assets.

Projected recoveries under the Plan are:

                                  Estimated    Projected
   Class                             Amount     Recovery
   -----                             ------     --------
I: Secured Claims                        $0        100%
II: Non-Tax Priority Claims              $0        100%
III: Hose Claim                 $66,568,868       9.26%
IV: Arispe Claim                $60,300,000       0.75%
V: Rabbi Trust Claims            $1,607,381         25%
VI: General Unsecured Claims       $554,458      1% to 8%
VII: Purchaser Claim           $123,770,584         0%
VIII: Interests                        N/A          0%

Under the Plan, holders of general unsecured claims totaling
$554,458 in Class VI will share on a pro-rata basis the Debtors'
cash remaining after (i) payments to administrative claimants,
secured claimants and priority claimants in Classes I to V and (ii)
any reserve necessary for wind-down expenses.  The class is
estimated to recover 1% to 8%.

The Purchaser Claim in Class VII will be allowed for the amount of
$123,770,584 but will only be paid after all payments required to
holders of claims in Classes I to VI have been paid.  The projected
recovery is 0%.

Shareholders in Class VIII will retain no ownership interests and
are slated to have a 0% recovery.

A full-text copy of the Disclosure Statement dated November 4,
2019, is available at https://tinyurl.com/y42fls4b from
PacerMonitor.com at no charge.

Counsel for the Debtors:

     POTTER ANDERSON & CORROON LLP
     Jeremy W. Ryan
     R. Stephen McNeill
     1313 North Market Street, Sixth Floor
     Wilmington, Delaware 19801
     Telephone: (302) 984-6000
     Facsimile: (302) 658-1192
     E-mail: jryan@potteranderson.com
             rmcneil@potteranderson.com

Counsel to the Official Committee of Unsecured Creditors:

     FOX ROTHCHILD LLP
     Thomas M. Horan
     919 North Market Street, Suite 300
     Wilmington, DE 19899-2323
     Telephone: (302) 654-7444
     Facsimile: (302) 656-8920
     E-mail: thoran@foxrothchild.com

             - and -

     Christina M. Sanfelippo
     321 North Clark Street, Suite 1600
     Chicago, IL 60654
     Telephone: (312) 980-3849
     Facsimile: (312) 980-3888
     Email: csanfelippo@foxrothschild.com

                   About SIW Holding Company

SIW Holding Company, Inc. fka WIS Holding Company and its
subsidiaries were in the business of providing outsourced inventory
verification services and retail merchandising services throughout
the United States and internationally.  They provided physical
inventory verification for retail customers in order to manage and
deter inventory shrinkage and to comply with annual GAAP audit
requirements necessitating physical verification.  They
historically provided those services to a diverse customer base,
including large retailers such as Walmart.  As of Jan. 1, 2017, the
Debtors operated out of 189 offices in 42 U.S. States and nine
Canadian provinces. The Debtors closed the sale of substantially
all of their assets to Retail Services WIS, Corporation on June 8,
2017.

On July 2, 2018, WIS Holding Company, Inc., and certain of its
affiliates filed voluntary petitions for relief under Chapter 11 of
the U.S. Bankruptcy Code.  The Debtors' bankruptcy cases are
jointly administered under Bankr. D. Del. Case No. 18-11579 and are
pending before the Honorable Christopher S. Sontchi.

The Debtors tapped Potter Anderson & Corroon LLP as counsel; and
JND Corporate Restructuring as claims agent. Cohnreznick, LLP, is
the tax advisor.


SOUTH TEXAS INNOVATIONS: Examiner Seeks to Hire McCloskey Roberson
------------------------------------------------------------------
Randy W. Williams, the examiner appointed in South Texas
Innovations, LLC's Chapter 11 case, seeks approval from the U.S.
Bankruptcy Court for the Southern District of Texas to retain
McCloskey Roberson, PLLC as its special litigation counsel.

The firm will provide these services in connection with the
Debtor's bankruptcy case:  

     (a) assist the examiner in analyzing claims owned by the
Debtor's bankruptcy estate;

     (b) prepare and file pleadings to pursue the estate's claims
and defend the examiner in any potential litigation;

     (c) conduct examinations of witnesses, claimants and other
parties in connection with such litigation;

     (d) represent the examiner in any potential litigation or
adversary proceeding before the bankruptcy court and in any other
judicial or administrative proceeding in which the claims may be
affected;

     (e) collect any judgment that may be entered in favor of the
examiner in the litigation; and

     (f) handle any appeal that may result from the litigation.

McCloskey Roberson will receive:

  --  25 percent fee on the Debtor's claims against Pepper Lawson
(for both the Block 52 and TSU projects); and

  --  33.33 percent fee on all other litigations.

Timothy McCloskey, Esq., at McCloskey Roberson, assures the court
that the firm is a "disinterested person" within the definition of
Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Timothy M. McCloskey, Esq.
     McCloskey Roberson, PLLC
     945 Heights Blvd.
     Houston, TX 77008
     Phone: (713) 868-5581
     Fax: (713) 868-1275

                      About South Texas Innovations

Creditors Titan Formwork Systems LLC, Superior Crushed Stone LC and
T-Star Sawing & Drilling LLC filed a Chapter 7 involuntary petition
(Bankr. S.D. Texas Case No. 18-34245) against South Texas
Innovations LLC on Aug. 3, 2018.  The creditors are represented by
Lisa M. Norman, Esq.

On Nov. 1, 2018, the Chapter 7 case was converted to one under
Chapter 11 (Bankr. S.D. Tex. Case No. 18-34245).  The case is
assigned to Judge David R. Jones.  

The Debtor tapped Walker & Patterson, P.C. as its legal counsel.


SPRINT CORP: Egan-Jones Lowers Sr. Unsecured Ratings to B+
----------------------------------------------------------
Egan-Jones Ratings Company, on November 13, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Sprint Corporation, Incorporated to B+ from BB-.

Sprint Corporation, Incorporated is an American telecommunications
company that provides wireless services and is an internet service
provider, based in Overland Park, Kansas. It is the fourth-largest
mobile network operator in the United States and serves 54.5
million customers as of March 2019.


SPYBAR MANAGEMENT: Non-Insider Creditors to Recover 100%
--------------------------------------------------------
Spybar Management, LLC, filed a Chapter 11 Plan that proposes to
treat claims and interest holders as follows:

   * Class I - Secured Claim held by Byline Bank. IMPAIRED. Amount
of claim $485,708.95. Projected recovery 100%. Payment in full from
operation of business during repayment months 1 through 60.

   * Class II - Allowed Unsecured Claims entitled to Priority by
the Bankruptcy Code. IMPAIRED. Amount of claim $26,641.23.
Projected recovery 100%. Payment in full from operation of business
during months 1 to 60.

   * Class III - Allowed non-Insider General Unsecured Claims.
IMPAIRED. Amount of claim $231,926.78. Projected recovery 100%.
Payment in full from operation of business during months 6-60.

   * Class IV - Allowed Unsecured Claims of $1,500.00 or less.
IMPAIRED. Amount of claim $13,708.72. Projected recovery 100%.
Payment in full from operation of business during months 1-3.

   * Class V - Allowed Insider General Unsecured Claims. IMPAIRED.
Amount of claim $285,000.00. Projected recovery 0%. Subordinated
Promissory Notes payable only after completion of all other Plan
payments.

   * Class VI - Equity Interests. IMPAIRED. No cash distribution
pursuant to the Plan.

The Plan will be funded from the revenues generated from the
Debtor's continued operations.

A full-text copy of the Disclosure Statement in support of the Plan
dated Nov. 4, 2019, is available at https://tinyurl.com/yybjahah
from PacerMonitor.com at no charge.

Counsel for the Debtor:

     E. Philip Groben
     Matthew T. Gensburg
     GENSBURG CALANDRIELLO & KANTER, P.C.
     200 West Adams St., Ste. 2425
     Chicago, Illinois 60606
     Phone: 312-263-2200
     Fax: 312-263-2242
     Email: pgroben@gcklegal.com
     Email: mgensburg@gcklegal.com

                         About Spybar

Spybar Management, LLC, is an Illinois company organized on Jan. 8,
2008.  In conjunction with a non-filing affiliate, Skyline
Management Co., Spybar Management operates Spybar Chicago, a
nightclub in Chicago's vibrant River North neighborhood.

Spybar Management sought Chapter 11 protection (Bankr. N.D. Ill.
Case No. 19-05128) on Feb. 27, 2019.  The case is assigned to Judge
Carol A. Doyle.  Gensburg, Calandriello & Kanter P.C. is the
Debtor's counsel.


STAR CHAIN: Seeks Court OK to Tap Ordinary Course Professionals
---------------------------------------------------------------
Star Chain, Inc., seeks approval from the U.S. Bankruptcy Court for
the Northern District of Georgia to hire professionals used in the
ordinary course of business.

The request, if granted, would allow Star Chain and its affiliates
to hire "ordinary course professionals" without filing separate
employment or fee applications.

The ordinary course professionals who are expected to be utilized
in the Debtors' Chapter 11 cases are:

     Professionals              Services
     -------------              --------
     Inprocess, Inc.      Bookkeeping/accounting

     Mark Bryant, CPA     MOR preparation

     Sourced              Transitional bookkeeping

The Debtors propose that each OCP be limited to monthly fees of
$15,000, exclusive of expenses.

                        About Star Chain

Star Chain, Inc., is a Georgia-based company that operates as the
management company for all affiliated "US Star" debtors. The
affiliated "US Star" debtors operate approximately four dozen
restaurants with franchisors Captain D's, Checkers, Newk's, and
Yogli Mogli. The Debtors' membership interests are owned by the
same person, Omer Casurluk. The Debtors have common secured
creditors and are part of one business operation.

On Oct. 2, 2019, Star Chain, Inc., as Lead Debtor, and 26 other
affiliates sought Chatper 11 protection (Bankr. N.D. Ga. Lead Case
No. 19-65768) in Atlanta, Georgia.  In the petition signed by Omer
Casurluk, manager, Star Chain, Inc., was estimated to have assets
at $1 million to $10 million, and liabilities at $10 million to $50
million.  The Hon. Wendy L. Hagenau is the case judge.  Wiggam &
Geer, LLC is counsel to the Debtors.  Rountree Leitman & Klein,
LLC, is Wiggam & Geer's co-counsel.


STAR CHAIN: Seeks to Hire GGG Partners as Financial Advisor
-----------------------------------------------------------
Star Chain, Inc., seeks approval from the U.S. Bankruptcy Court for
the Northern District of Georgia to hire GGG Partners, LLC as
financial advisor.
   
The firm will provide these services to Star Chain and its
affiliates in connection with their Chapter 11 cases:

     (a) assisting the Debtors in maintaining and reporting on cash
flow;

     (b) compiling and analyzing leases and other executory
contracts;

     (c) assessing financial and operational functions;

     (d) offering recommendations regarding both financial and
operational improvements, and developing a restructuring plan;

     (e) assisting the Debtors in the preparation of certain
pleadings;

     (f) appearing at depositions and in court to testify on behalf
of the Debtors;

     (g) assisting the Debtors in the marketing and sale of their
assets; and

     (h) other services as requested by the Debtors.

The professionals designated to provide the services and their
hourly rates are:

     Curt Friedberg     $350
     Joe Briner         $325
     Adam Cohen         $325

GGG Partners and its professionals are "disinterested" within the
meaning of Section 101(14) of the Bankruptcy Code, according to
court filings.

The firm can be reached through:

     Curt Friedberg
     GGG Partners, LLC
     3155 Roswell Rd NE, Suite 120
     Atlanta, GA 30305   
     Phone: (404) 256-0003  
     Fax: (404) 256-4555
     Email: Info@GGGPartners.com

                        About Star Chain

Star Chain, Inc., is a Georgia-based company that operates as the
management company for all affiliated "US Star" debtors. The
affiliated "US Star" debtors operate approximately four dozen
restaurants with franchisors Captain D's, Checkers, Newk's, and
Yogli Mogli. The Debtors' membership interests are owned by the
same person, Omer Casurluk. The Debtors have common secured
creditors and are part of one business operation.

On Oct. 2, 2019, Star Chain, Inc., as Lead Debtor, and 26 other
affiliates sought Chatper 11 protection (Bankr. N.D. Ga. Lead Case
No. 19-65768) in Atlanta, Georgia. In the petition signed by Omer
Casurluk, manager, Star Chain, Inc., was estimated to have assets
at $1 million to $10 million, and liabilities at $10 million to $50
million.  The Hon. Wendy L. Hagenau is the case judge.  Wiggam &
Geer, LLC is counsel to the Debtors.  Rountree Leitman & Klein, LLC
is Wiggam & Geer's co-counsel.


STERICYCLE INC: Egan-Jones Lowers Senior Unsecured Ratings to BB-
-----------------------------------------------------------------
Egan-Jones Ratings Company, on November 11, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Stericycle Incorporated to BB- from BB.

Stericycle Incorporated is a compliance company that specializes in
collecting and disposing of regulated substances, such as medical
waste and sharps, pharmaceuticals, hazardous waste, and providing
services for recalled and expired goods. It also provides related
education and training services, and patient communication
services.


SUNSET VIEW: Case Summary & 2 Unsecured Creditors
-------------------------------------------------
Debtor: Sunset View Ranches, LLC
        2801 SW 148th Ave
        Davie, FL 33331-2632

Business Description: Sunset View Ranches, LLC is primarily
                      engaged in renting and leasing real estate
                      properties.  The Company owns a property
                      located at 2801 SW 148th Ave, Davie, Florida
                      having a current value of $3.2 million.

Chapter 11 Petition Date: November 19, 2019

Court: United States Bankruptcy Court
       Southern District of Florida (Fort Lauderdale)

Case No.: 19-25581

Judge: Hon. Scott M Grossman

Debtor's Counsel: Stan L. Riskin, Esq.
                  ADVANTAGE LAW GROUP, P.A.
                  20801 Biscayne Blvd # 506
                  Aventura, FL 33180
                  Tel: 305-936-8844
                  E-mail: stan.riskin@gmail.com

Total Assets: $4,800,017

Total Liabilities: $2,110,372

The petition was signed by Judith Villarroel, manager.

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/flsb19-25581.pdf


SWEET WOLVERINE: Taps Lincoln Homes as Real Estate Broker
---------------------------------------------------------
Sweet Wolverine Holdings, LLC and Sweet Wolverine Management, LLC
received approval from the U.S. Bankruptcy Court for the District
of Arizona to employ Lincoln Homes Incorporated as their real
estate broker.

Lincoln Homes will assist the Debtor in the sale of their
properties located at 632 Oak Ave., Klamath Falls, Ore.  The broker
will get 6 percent of the gross sale price.

Matthew Amuchastegui, principal broker and owner of Lincoln Homes,
assures the court that he is a "disinterested person" as defined
within Section 101(14) of the Bankruptcy Code.

The broker may be reached at:

     Matthew Amuchastegui
     Lincoln Homes Inc.
     520 Klamath Ave
     Klamath Falls, OR 97601
     Phone: (541) 331-1887

                   About Sweet Wolverine

Sweet Wolverine Management LLC and Sweet Wolverine Holdings, LLC
filed for Chapter 11 bankruptcy (Bankr. D. Ariz. Lead Case No.
19-13670) on Oct. 25, 2019, listing under $1 million in both assets
and liabilities.  The Debtors are represented by Gerald K. Smith
and John C. Smith Law Offices, PLLC.


SWEET WOLVERINE: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------------
The Office of the U.S. Trustee on Nov. 18 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 cases of Sweet Wolverine Management LLC
and Sweet Wolverine Holdings LLC.

                       About Sweet Wolverine

Sweet Wolverine Management LLC and Sweet Wolverine Holdings LLC
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
D. Ariz. Lead Case No. 19-13670) on Oct. 25, 2019.

At the time of the filing, Sweet Wolverine Management disclosed
assets of between $100,001 to $500,000 and liabilities of the same
range.  Meanwhile, Sweet Wolverine Holdings disclosed assets of
between $500,001 and $1 million and liabilities of the same range.

The Debtors tapped John C. Smith, Esq., at Smith and Smith PLLC.


TARRANT COUNTY: Stayton Prepackaged Plan Seeks Bond Refinancing
---------------------------------------------------------------
Debtor Tarrant County Senior Living Center, Inc., d/b/a Stayton at
Museum Way, filed with the U.S. Bankruptcy Court for the Northern
District of Texas, Dallas Division, a Prepackaged Plan of
Reorganization and Disclosure Statement.

Stayton believes that the Plan, which is the result of extensive,
arm's length negotiations among (i) Stayton, (ii) Senior Quality
Lifestyles Corporation, Stayton's former sole corporate member
("SQLC"), (iii) Lifespace Communities, Inc., Stayton's current sole
corporate member, (iv) UMB Bank, N.A., as successor bond trustee
and successor master trustee (in either capacity, as applicable,
the "Trustee") and (v) the Holders of at least 67 percent of the
Bond Claims (the "Steering Committee") provides the Debtor with a
long-term resolution of its financial distress so that it can,
among other things, service its debt obligations, fulfill its
charitable mission and honor its commitments to the residents of
Stayton.

In particular, Stayton, SQLC, Lifespace, the Trustee and the
Steering Committee, as applicable, have agreed to the terms of an
Affiliation Agreement, Liquidity Support Agreement, Second
Forbearance Agreement and Plan Support Agreement together with a
refinancing of Stayton's bond obligations that collectively provide
for the following (the "Refinancing Transaction"):

   1. the substitution of Lifespace as the sole member of Stayton,
which occurred on June 20, 2019 (the "Membership Substitution
Effective Date");

   2. a consensual, tax-exempt refinancing of Stayton's Bonds (the
"Bond Refinancing");

   3. an agreement by the Trustee to forbear from exercising
remedies under the Original Bond Documents while Stayton pursues
the Bond Refinancing;

   4. an agreement by Lifespace to provide liquidity support for
the benefit of Stayton prior to, during and following the Bond
Refinancing; and  

   5. a pre-packaged chapter 11 bankruptcy proceeding (the "Chapter
11 Case") to implement the Bond Refinancing

As the final step in the Refinancing Transaction, and subject to
receiving the requisite number of votes in favor of the Plan,
Stayton has commenced the Chapter 11 Case in the Bankruptcy Court
to pursue the Bond Refinancing. Among other things, the Plan
provides as follows:

    a. Stayton shall cause the Issuer to issue new Series 2019
Bonds in an aggregate principal amount equal to $105,795,000, plus
all accrued and unpaid interest on the Bonds through the Effective
Date of the Plan, on the terms and conditions set forth in the 2019
Bond Documents which are described more fully in Section III.C.3 of
this Disclosure Statement.

    b. The Plan will provide for the following classes of Claims
and Interests and treatment of such Claims and Interests:

   Class  Claims and Interests   Status   Entitled to Vote
   -----  --------------------   ------   ----------------
    1  Other Priority Claims    Unimpaired  No (Deemed to Accept)
    2  Other Secured Claims     Unimpaired  No (Deemed to Accept)
    3  Bond Claims              Impaired    Yes
    4 General Unsecured Claims  Unimpaired  No (Deemed to Accept)
    5 Preserved Interco Claims  Unimpaired  No (Deemed to Accept)
    6 Intercompany Claims       Impaired    No (Deemed to Reject)
    7 Interests in Stayton      Unimpaired  No (Deemed to Accept)
  
    c. All Executory Contracts and unexpired leases, including
Continuing Care Contracts, will be assumed pursuant to section 365
of the Bankruptcy Code.

    d. The charter, bylaws, limited liability company agreement and
other organizational documents of Stayton will (i) be amended or
amended and restated by Stayton consistent with section 1123(a)(6)
of the Bankruptcy Code and otherwise in accordance with the Plan
and the Plan Support Agreement and (ii) be in form and substance
reasonably acceptable to Stayton, the Trustee, the members of the
Steering Committee and Lifespace.

    e. Stayton will release certain parties, including, without
limitation, the Trustee, the Steering Committee, Lifespace and the
Issuer.

General Unsecured Claims (Class 4) will be paid in the ordinary
course of business as if the Chapter 11 Case has not been
commenced, or will receive other treatment so as to render the
claim unimpaired.

On the Effective Date, the Reorganized Debtor shall cause the
Issuer to issue the Series 2019 Bonds with a principal of
$105,795,000, plus all accrued and unpaid interest on the Bonds
through the Effective Date, on the terms and conditions set forth
in the 2019 Bond Documents.

The issuance of the Series 2019 Bonds for distribution under the
Plan is authorized without the need for further corporate action,
and all of the Series 2019 Bonds issued or issuable under the Plan
shall be duly authorized and validly issued under the Plan. The
Reorganized Debtor shall cause to be delivered customary legal
opinions and other documents in connection with the issuance of the
Series 2019 Bonds.

A full-text copy of the Disclosure Statement dated Nov. 5, 2019, is
available at https://tinyurl.com/y26kz5x2 from PacerMonitor.com at
no charge.

The Debtor is represented by:

        Andrew B. Zollinger
        DLA Piper LLP (US)
        1900 North Pearl Street, Suite 2200
        Dallas, Texas 75201
        Tel: (214) 743-4500
        Fax: (214) 743-4545
        E-mail: andrew.zollinger@dlapiper.com

        Thomas R. Califano
        DLA Piper LLP (US)
        1251 Avenue of the Americas
        New York, New York 10020-1104
        Tel: (212) 335-4500
        Fax: (212) 335-4501
        E-mail: thomas.califano@dlapiper.com

             - and -

        Rachel Nanes
        DLA Piper LLP (US)
        200 South Biscayne Boulevard, Suite 2500
        Miami, Florida 33131
        Tel: (305) 423-8563
        Fax: (305) 675-8206
        E-mail: rachel.nanes@dlapiper.com

            About Tarrant County Senior Living Center

Incorporated in 2006, Tarrant County Senior Living Center, Inc.,
doing business as The Stayton at Museum Way --
https://www.thestayton.com/ -- is a not-for-profit corporation that
has built a senior living retirement community in Fort Worth,
Texas.  Stayton operates a continuing care retirement community
that offers its senior residents a continuum of care in a
campus-style setting, providing living accommodations and related
health care and support services to a target market of individuals
aged 62 and older.

Stayton sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. N.D. Tex. Case No. 19-33756) on Nov. 5, 2019.  In the
petition signed by CRO Louis E. Robichaux IV, the Debtor was
estimated to have assets ranging between $100 million to $500
million and liabilities of the same range.

The Hon. Stacey G. Jernigan is the case judge.

The Debtor tapped DLA Piper LLP (US), as bankruptcy counsel;
Gilmore Bell, Esq., as bond counsel; Louis E. Robichaux IV at
Ankura Consulting Group, LLC as chief restructuring officer; and
EPIQ Corporate Restructuring, LLC, as claims and solicitation
agent.



TECH DATA: Egan-Jones Lowers Senior Unsecured Ratings to BB+
------------------------------------------------------------
Egan-Jones Ratings Company, on November 14, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Tech Data Corporation to BB+ from BBB-.

Tech Data Corporation is an American multinational distribution
company specializing in IT products and services headquartered in
Clearwater, Florida.


TERADATA CORP: Egan-Jones Lowers Sr. Unsec. Ratings to BB
---------------------------------------------------------
Egan-Jones Ratings Company, on November 15, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Teradata Corporation to BB from BB+.

Teradata Corporation is a provider of database and
analytics-related software, products, and services. The company was
formed in 1979 in Brentwood, California, as a collaboration between
researchers at Caltech and Citibank's advanced technology group.


TIVO SOLUTIONS: Egan-Jones Lowers Senior Unsecured Ratings to B-
----------------------------------------------------------------
Egan-Jones Ratings Company, on November 14, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by TiVo Solutions Incorporated to B- from B.

TiVo Solutions Incorporated specializes in entertainment technology
and audience insights. The Company offers services that allow
viewers to record and control live television, customize viewing
preferences, and access television shows. TiVo Solutions serves
customers in the United States.


TOWN SPORTS: S&P Lowers ICR to CCC on Incremental Refinancing Risk
------------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Town Sports
International Holdings Inc. to 'CCC' from 'B-'.

S&P also lowered the issue-level rating on the company's senior
secured credit facility to 'CCC', which consists of a $15 million
revolver due in August 2020 and a term loan with $178 million
outstanding due November 2020. The recovery rating on this credit
facility remains '3', indicating S&P's expectation for meaningful
(50%-70%; rounded estimate: 50%) recovery for lenders in the event
of a payment default.

The November 2020 maturity of the company's senior secured term
loan presents significant near-term refinancing risk if it cannot
turn around the decline in comparable club revenue and EBITDA in
the first nine months of 2019.  S&P lowered the rating to 'CCC'
because Town Sports' term loan matures in November 2020 and it
believes there is an increased risk of a default over the next 12
months. S&P also believes that, over the next several months, the
company's ability to negotiate a refinancing would be impaired if
operating setbacks including comparable club revenue declines,
higher operating expenses, and declining EBITDA are not
meaningfully improved in a sustained manner.

The negative outlook reflects the increased possibility of a
default of some kind over the next 12 months if the company cannot
refinance its term loan due November 2020. This would likely follow
an inability to achieve a sustained improvement in comparable club
revenue and EBITDA.

"We would lower the ratings if we believe a default of some kind is
a virtual certainty. A default could take the form of an inability
to refinance the term loan or repay it, a distressed exchange, a
payment default, a covenant violation, or a bankruptcy filing," S&P
said.

"We could consider raising the ratings if Town Sports successfully
refinances its senior term loan and we believe Town Sports will
grow comparable club revenue and EBITDA in a sustainable manner,"
the rating agency said.


VALERITAS HOLDINGS: Incurs $13.2 Million Net Loss in 3rd Quarter
----------------------------------------------------------------
Valeritas Holdings, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q reporting a net loss
of $13.24 million on $8.46 million of net revenue for the three
months ended Sept. 30, 2019, compared to a net loss of $11.53
million on $6.93 million of net revenue for the three months ended
Sept. 30, 2018.   The increase in net loss was primarily due to the
increase in SG&A expense.

For the nine months ended Sept. 30, 2019, the Company reported a
net loss of $41.95 million on $22.38 million of net revenue
compared to a net loss of $34.06 million on $19.50 million of net
revenue for the three months ended Sept. 30, 2018.

As of Sept. 30, 2019, the Company had $49.23 million in total
assets, $38.21 million in total liabilities, and $11.02 million in
total stockholders' equity.

"Strong acceleration in prescriptions generating 30% revenue growth
in the U.S. drove our robust results in the third quarter,
demonstrating the integration of patient and provider support
through our V-Go Cares program is producing solid results," said
John Timberlake, president and chief executive officer.  "We
believe the momentum created in U.S. prescription growth in the
first nine months of 2019 will accelerate in the fourth quarter and
continue into 2020."

Total revenue for the third quarter of 2019 was $8.5 million, a 22%
increase as compared to the third quarter of 2018, and a 32%
increase over the first quarter of this year.  This represented a
30% year-over-year revenue growth for sales in the U.S., up from
$6.5 million for the third quarter of 2018.

The increase in the Company's revenue was driven by prescription
growth in the Company's targeted territories as U.S. total and new
prescriptions in targeted accounts grew 41% and 48% year-over-year,
respectively.  The existing territories grew targeted account
volume by 34% year-over-year while the 2019 expansion territories
during their first full quarter of selling, grew targeted volume by
30% from the second quarter of this year. Overall, total
prescriptions for the third quarter grew more than 25%, as
prescriptions in the Company's non-targeted accounts declined 4%
year-over-year.

Gross profit in the third quarter of 2019 was $4.2 million, an
increase of 32% versus $3.2 million in the same period in 2018.
Gross margin increased by over 370 basis points to 49.6% compared
to the third quarter of 2018 due primarily to the increase in unit
sales of V-Go, as well as an increase in the net selling price.

Operating expenses for the third quarter of 2019 were $16.3
million, consistent with the previous quarter and an increase of
19% from $13.8 million in the third quarter of 2018 largely due to
an increase in SG&A expenses primarily related to the planned 50%
increase in the U.S. field sales force, which was completed by the
end of the first quarter of 2019, as well as a 60% increase in
field commercial spend supporting our expanded sales team.

Operating loss in the third quarter of 2019 was $12.1 million, as
compared to $10.6 million in the third quarter of 2018, primarily
due to an increase in SG&A expenses as previously noted.

Total cash and cash equivalents were $23.2 million as of Sept. 30,
2019.  During the third quarter, the Company exchanged $25 million
of its long-term debt for a newly-created class of Series B
Preferred stock, thereby reducing its cash interest by
approximately $8.0 million over the next two years.  In addition,
the Company raised an aggregate of $6.5 million through the sale of
its common stock, net of fees, through its ATM program with B.
Riley FBR, and its purchase agreement with Aspire Capital.

                          Guidance

Based on its third quarter results and prescriptions through
October, the Company expects to record annual revenue of between
$31.5 million and $31.8 million, representing annual growth of
roughly 20%.  The Company anticipates gross margin to continue to
trend higher for the remainder of 2019, and expects to exit the
fourth quarter of 2019 with gross margin between 52% and 54%.

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

                     https://is.gd/JcD1rN

                    About Valeritas Holdings

Valeritas -- http://www.valeritas.com/-- is a commercial-stage
medical technology company focused on improving health and
simplifying life for people with diabetes by developing and
commercializing innovative technologies.  Valeritas' flagship
product, V-Go Wearable Insulin Delivery device, is a simple,
affordable, all-in-one basal-bolus insulin delivery option for
patients with type 2 diabetes that is worn like a patch and can
eliminate the need for taking multiple daily shots.  V-Go
administers a continuous preset basal rate of insulin over 24
hours, and it provides discreet on-demand bolus dosing at
mealtimes.  It is the only basal-bolus insulin delivery device on
the market today specifically designed keeping in mind the needs of
type 2 diabetes patients.  Headquartered in Bridgewater, New
Jersey, Valeritas operates its R&D functions in Marlborough,
Massachusetts.  

Valeritas incurred a net loss of $45.92 million in 2018 following a
net loss of $49.30 million in 2017.  As of June 30, 2019, the
Company had $52.75 million in total assets, $60.66 million in total
liabilities, and a total stockholders' deficit of $7.91 million.

Friedman LLP, in East Hanover, New Jersey, the Company's auditor
since 2016, issued a "going concern" opinion in its report dated
March 5, 2019, on the Company's consolidated financial statements
for the year ended Dec. 31, 2018, citing that the Company has
recurring losses and negative cash flows from operations.  These
conditions, among others, raise substantial doubt about the
Company's ability to continue as a going concern.


VALERITAS HOLDINGS: Regains Compliance with Nasdaq Listing Rule
---------------------------------------------------------------
Valeritas Holdings, Inc., received a letter on Nov. 18, 2019, from
the Listing Qualifications Department of the Nasdaq Stock Market
stating that, based on the disclosure in the Company's Quarterly
Report on Form 10-Q for the period ended Sept. 30, 2019, evidencing
stockholders' equity of approximately $11.0 million, the Staff has
determined that the Company complies with the Equity Standard.

On June 25, 2019, Valeritas received Nasdaq indicating that, based
upon Nasdaq's review of the Market Value of Listed Securities for
the 30 consecutive business days preceding the date of the MVLS
Notice, the Company did not comply with the minimum MVLS of $35
million as set forth in Nasdaq Listing Rule 5550(b)(2).  The
Company was provided with a period of 180 calendar days, or until
Dec. 23, 2019, in which to regain compliance with the MVLS
requirement.  In lieu of complying with the MVLS requirement, the
Company could also regain compliance with Nasdaq if it achieved
stockholders' equity of at least $2.5 million by Dec. 23, 2019, in
accordance with Nasdaq Listing Rule 5550(b)(1).  

The Staff stated that the matter is now closed.

                   About Valeritas Holdings

Valeritas -- http://www.valeritas.com/-- is a commercial-stage
medical technology company focused on improving health and
simplifying life for people with diabetes by developing and
commercializing innovative technologies.  Valeritas' flagship
product, V-Go Wearable Insulin Delivery device, is a simple,
affordable, all-in-one basal-bolus insulin delivery option for
patients with type 2 diabetes that is worn like a patch and can
eliminate the need for taking multiple daily shots.  V-Go
administers a continuous preset basal rate of insulin over 24
hours, and it provides discreet on-demand bolus dosing at
mealtimes.  It is the only basal-bolus insulin delivery device on
the market today specifically designed keeping in mind the needs of
type 2 diabetes patients.  Headquartered in Bridgewater, New
Jersey, Valeritas operates its R&D functions in Marlborough,
Massachusetts.  

Valeritas incurred a net loss of $45.92 million in 2018 following a
net loss of $49.30 million in 2017. As of Sept. 30, 2019, the
Company had $49.23 million in total assets, $38.21 million in total
liabilities, and $11.02 million in total stockholders' equity.

Friedman LLP, in East Hanover, New Jersey, the Company's auditor
since 2016, issued a "going concern" opinion in its report dated
March 5, 2019, on the Company's consolidated financial statements
for the year ended Dec. 31, 2018, citing that the Company has
recurring losses and negative cash flows from operations.  These
conditions, among others, raise substantial doubt about the
Company's ability to continue as a going concern.


VETERINARY CARE: Seeks Access to Cash Collateral to Fund Operation
------------------------------------------------------------------
Veterinary Care, Inc., seeks authorization from the U.S. Bankruptcy
Court for the Southern District of Texas to use cash collateral as
working capital in the operation of its business.

VitalPet Franchising LLC; TVET Management LLC; TVET Operating PLLC;
and the Debtor entered into that certain Loan and Security
Agreement with Escalate Capital Partners SBIC III, LP, as Lender
for up to $10 million, secured by a first lien on all or
substantially all of the Loan Parties' assets including the
Debtor's cash and cash equivalents. The Secured Loan was issued
along with a warrant to purchase 193,000 shares of common stock of
the Debtor.

William Van Pelt, IV, a minority interest holder in the Debtor
agreed to purchase the Secured Loan through his newly-formed
entity, VP Senior Capital, LLC. Subsequently, VP Senior purchased
the Secured Loan and the accompanying warrant from Escalate and
advanced additional funds over the next two years, bringing the
principal balance to $10 million.

As adequate protection for the diminution in value of Cash
Collateral, the Debtor will (i) maintain the value of its business
as a going-concern, and (ii) provide replacement liens upon now
owned and after-acquired cash to the extent of any diminution in
value of Cash Collateral.

A copy of the Motion is available for free at
https://tinyurl.com/wrv69fu from PacerMonitor.com

                     About Veterinary Care

Veterinary Care Inc. offers a range of pet care services.

Petitioning creditors Dr. Warren Resell, Dr. James H. Kelly, Dr.
Larry D. Wood, filed an involuntary Chapter 11 petition (Bankr.
S.D. Texas Case No. 19-35736) against Veterinary Care, Inc., d/b/a
Vital Pet, on Oct. 10, 2019.  The case is assigned to Hon.
Christopher M. Lopez.  The petitioners are represented by Richard
L. Fuqua, Esq., at Fuqua & Associates, P.C., in Houston, Texas.




VICI PROPERTIES: S&P Affirms 'BB' ICR; Outlook Stable
-----------------------------------------------------
S&P Global Ratings affirmed its 'BB' issuer credit rating on VICI
Properties L.P. and assigned its 'BB' issue-level rating and '4'
recovery rating to the $1.75 billion in total senior unsecured
notes that the company plans to issue.

VICI intends to use the proceeds to repay in full Caesars Palace
Las Vegas' CMBS debt, pay fees and expenses, and add cash to the
balance sheet for future acquisitions.

In addition, S&P revised its recovery rating on VICI's second-lien
notes to '1' from '4', and raised the issue-level rating to 'BBB-'
from 'BB'. S&P also removed the issue-level rating from CreditWatch
with positive implications. The improved recovery prospects for
second-lien noteholders reflects incremental value from
acquisitions that VICI has completed.

The proposed issuance of unsecured debt to refinance secured debt
will unencumber a meaningful amount of the company's asset base and
improve VICI's financial flexibility and maturity profile.   Prior
to the completion of the proposed unsecured debt issuance, VICI has
had all secured debt in its capital structure, which reduced
financial flexibility. S&P believes VICI's financial flexibility
and capital markets access will improve as it increases the amount
of unsecured debt in its capital structure and begins to unencumber
its asset base. Even though the company plans to raise an
additional $2.5 billion in debt to fund announced 2020
acquisitions, at least a portion of which will be secured, S&P
expects that pro forma for this issuance, unsecured debt will
comprise more than 25% of VICI's capital structure. Notwithstanding
the anticipated improvement in financial flexibility, S&P believes
VICI's capital structure is still heavily encumbered and the rating
agency is unlikely to consider higher ratings until the company is
able to shift its capital structure mix to more unsecured debt.

The stable outlook reflects S&P's expectation for minimal cash flow
volatility given the triple-net lease structure under which nearly
all of its cash flows are fixed. Although S&P expects VICI's
leverage will increase about 0.5x in 2020 because of acquisitions,
the company has ample cushion compared to the rating agency's
leverage downgrade threshold to absorb these acquisitions.

"We could lower the rating if we no longer expected VICI to sustain
leverage under 7.5x. Given the cushion we expect VICI to have with
respect to this threshold, a downgrade would most likely result
from a leveraging acquisition where VICI is unable or unwilling to
raise a sufficient amount of equity to keep leverage below this
level rather than operating performance given the stability and
predictability of its cash flow," S&P said.

Although it expects VICI's leverage will be under 6x through 2020,
S&P is unlikely to raise the rating until VICI demonstrates a
longer track record of broader financial markets access,
transitions its capital structure further away from secured debt
and further improves its financial flexibility by increasing the
mix of unsecured debt in its capital structure. Additionally, S&P
is unlikely to consider raising the rating until it can conclude
that the credit quality of its largest tenant, pro forma for its
announced merger with Eldorado Resorts, is not impaired in a manner
that would increase VICI's business or financial risks. Prior to
raising the rating, S&P would also need to believe that VICI will
continue to finance future acquisitions using sufficient equity
proceeds, no matter the condition of the equity markets, such that
leverage would not increase above 6x. Alternatively, S&P could also
raise the rating if VICI builds in sufficient cushion relative to
this upgrade threshold such that the rating agency believes it
could absorb large acquisitions without going above 6x if equity
markets are volatile.


WALKER COUNTY HOSPITAL: Taps Epiq as Claims & Noticing Agent
------------------------------------------------------------
Walker County Hospital Corporation received approval from the U.S.
Bankruptcy Court for the Southern District of Texas to hire Epiq
Corporate Restructuring, LLC as claims and noticing agent.

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

Epiq will charge these hourly fees for claim administration
services:

     Clerical/Administrative Support      $25 – $45
     IT/Programming                       $65 – $85
     Case Managers                       $70 – $165
     Consultants/Directors/VPs          $160 – $190
     Solicitation Consultant                $190
     Executive VP, Solicitation             $215
     Executives                           No Charge

Before the petition date, the Debtor provided Epiq a retainer in
the amount of $10,000.

Brian Hunt, consulting director of Epiq, disclosed in court filings
that his firm is "disinterested" as defined in Section 101(14) of
the Bankruptcy Code.

Epiq can be reached through:

     Brian Hunt
     Epiq Corporate Restructuring, LLC
     777 Third Avenue, Twelfth Floor
     New York, NY 10017
     
                About Walker County Hospital Corp.

Walker County Hospital Corporation --
https://www.huntsvillememorial.com/ -- operates a community
hospital in Huntsville, Texas.  It is the sole member of its
non-debtor affiliate, HMH Physician Organization.  Founded in 1927,
the facility provides health care services to the residents of
Walker County and its surrounding communities.

Walker County Hospital sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Texas Case No. 19-36300) on Nov. 11,
2019.  At the time of the filing, the Debtor disclosed assets of
between $10 million and $50 million and liabilities of the same
range.

The case is assigned to Judge David R. Jones.  

The Debtor tapped Waller Lansden Dortch & Davis, LLP and Morgan,
Lewis & Bockius LLP as bankruptcy counsel; Healthcare Management
Partners, LLC as financial and restructuring advisor; and Epiq
Corporate Restructuring, LLC as claims and noticing agent.


WESTBANK CONSTRUCTION: Seeks Court Approval to Hire Special Counsel
-------------------------------------------------------------------
WestBank Construction Inc. seeks authority from the U.S. Bankruptcy
Court for the District of Wyoming to hire a special counsel.

In an application filed in court, WestBank Construction proposes to
employ James Lubing, Esq., to represent the company in:

     a. AIA contract dispute between the company and Roland and S.
Lynne Smith in the arbitration captioned Westbank Construction,
Inc. v. Roland and S. Lynne Smith, AAA Case No. 02-16-0004-5948;

     b. the proceeding before the Ninth Judicial District Court for
Teton County seeking to affirm the arbitration award that was
captioned as Westbank Construction, Inc. v. Roland and S. Lynne
Smith, Civil No. 1772; and

     c. Notice of appeal of the state court decision affirming the
arbitration award for the company.

Mr. Lubing assures the court that he has no connection with
WestBank Construction, the creditor or any other party.

Mr. Lubing maintains an office at:

     James K. Lubing, Esq.
     Lubing Law Group
     260 W Broadway
     Jackson, WY 83001
     Phone: +1 307-733-7242

               About WestBank Construction Inc.

WestBank Construction Inc. primarily operates in the single-family
housing construction business.  It specializes in bathroom
remodeling, kitchen remodeling, basement remodeling, home building
and additions work.

WestBank Construction filed a Chapter 11 petition (Bankr. D. Wyo.
Case No. 19-20652) on Oct. 7, 2019. The petition was signed by
Randell S. Mayers, president. At the time of filing, the Debtor
estimated $201,286 in assets and $3,523,729 in liabilities. George
L. Arnold, Esq., at Arnold Law Offices, PLLC, is the Debtor's
attorney.


WILWOOD ANTIQUE: Seeks Donner & Company as Accountant
-----------------------------------------------------
Wildwood Antique Mall, LLC seeks approval from the U.S. Bankruptcy
Court for the Middle District of Florida to hire Donner & Company,
CPA, PA as its accountant.
   
The firm will provide these accounting services:

     (a) preparation of the 2018 federal corporate income tax
returns
and state and local corporate income tax returns;

     (b) preparation of the 2019 federal corporate income tax
returns
and state and local corporate income tax returns;

     (c) preparation of monthly financial reports;

     (d) software consultations (Quickbooks); and

     (e) tax compliance consultations.

Donner & Company charges an hourly fee of $200.  The retainer fee
is $9,000.

Donner & Company is "disinterested" within the meaning of Section
101(14) of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Rick Donner
     Donner & Company, CPA, PA
     3223 Santa Barbara Blvd
     Cape Coral, FL 33914
     Phone: 1-239-541-9494
     Fax: 1-239-590-9145
     Email: info@donnercpa.com

                About Wildwood Antique Malls

Wildwood Antique Malls offers a selection of antique, vintage and
collectible finds in Florida.  Wildwood Antique Malls filed a
voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr.
M.D. Fla. Case No. 19-03363) on Aug. 30, 2019.  In the petition
signed by Manny Pesco, manager, the Debtor was estimated to have
under $50,000 in both assets and liabilities.  Stephen J. Biggie,
Esq., at Arcadier Biggie & Wood, PLLC, is the Debtor's legal
counsel.


WOODLAWN COMMUNITY: Cash Collateral Use Continued Until Dec. 12
---------------------------------------------------------------
Judge Carol A. Doyle of the U.S. Bankruptcy Court for the Northern
District of Illinois has authorized Woodlawn Community Development
Corp. and the trustee, Gina B. Krol, to use cash collateral of the
Internal Revenue Service on an interim basis, under the same terms
and conditions as set forth in the previous order.

A continued hearing on the interim use of cash collateral is
scheduled to take place on Dec. 12, 2019 at 10:30 a.m.

The Debtor is authorized to use the funds in the DIP Account as
well as the payroll account to pay actual, ordinary course expenses
of its business through Dec. 12, pursuant to the budget.

A copy of the Interim Order is available for free at
https://tinyurl.com/yz55uk6y from PacerMonitor.com

                 About Woodlawn Community Development

Founded in 1972, Woodlawn Community Development Corp. --
https://www.wcdcchicago.com/ -- manages and develops affordable
housing for families in the Greater Metro Chicago area.

Woodlawn Community Development Corp., based in Chicago, Illinois,
filed a Chapter 11 petition (Bankr. N.D. Ill. Case No. 18-29862) on
Oct. 24, 2018.  In the petition signed by Leon Finney, Jr.,
president and CEO, the Debtor was estimated to have $50 million to
$100 million in both assets and liabilities.  The Hon. Carol A.
Doyle oversees the case.  David R. Herzog, Esq., at Herzog &
Schwartz, P.C., serves as bankruptcy counsel.



YRC WORLDWIDE: Egan-Jones Lowers Senior Unsecured Ratings to CCC+
-----------------------------------------------------------------
Egan-Jones Ratings Company, on November 11, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by YRC Worldwide Incorporated to CCC+ from B-. EJR also
downgraded the rating on commercial paper issued by the Company to
C from B.

YRC Worldwide Incorporated is an American holding company of
freight shipping brands YRC Freight, New Penn, Holland, and
Reddaway. YRC Worldwide has a comprehensive network in North
America and offers to ship of industrial, commercial and retail
goods. The company is headquartered in Overland Park, Kansas.



[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Michael John Bostic
   Bankr. C.D. Cal. Case No. 19-12841
      Chapter 11 Petition filed November 12, 2019
         represented by: Matthew D. Resnik, Esq.
                         RESNIK HAYES MORADI LLP
                         E-mail: matt@rhmfirm.com

In re Main Street Development & Construction Services, Inc.
   Bankr. C.D. Cal. Case No. 19-23386
      Chapter 11 Petition filed November 13, 2019
         See http://bankrupt.com/misc/cacb19-23386.pdf
         represented by: M. Jonathan Hayes, Esq.
                         RESNIK HAYES MORADI LLP
                         E-mail: jhayes@rhmfirm.com
                                 jhayes@srhlawfirm.com

In re Thomas Kutrubes
   Bankr. D. Colo. Case No. 19-19803
      Chapter 11 Petition filed November 13, 2019
         represented by: Aaron A. Garber, Esq.
                         E-mail: agarber@wgwc-law.com

In re Darren Bernard McCormick
   Bankr. M.D. Fla. Case No. 19-10768
      Chapter 15 Petition filed November 12, 2019
         See http://bankrupt.com/misc/flmb19-10768.pdf
         represented by: Leyza F. Blanco, Esq.
                         SEQUOR LAW, P.A.
                         E-mail: lblanco@sequorlaw.com

In re Ji-Chuen Jason Tsai
   Bankr. S.D. Fla. Case No. 19-25250
      Chapter 15 Petition filed November 12, 2019
         See http://bankrupt.com/misc/flsb19-25250.pdf
         represented by: Leyza F. Blanco, Esq.
                         SEQUOR LAW, P.A.
                         E-mail: lblanco@sequorlaw.com

In re Steakhouse Holdings LLC
   Bankr. N.D. Ga. Case No. 19-68250
      Chapter 11 Petition filed November 12, 2019
         See http://bankrupt.com/misc/ganb19-68250.pdf
         represented by: Benjamin J. Cohen, Esq.
                         PRICE-CO LAW GROUP LLC
                         E-mail: bgc@pricecollawgroup.com

In re Andre J. Cormier, Sr. and Fay H. Cormier
   Bankr. D. Mass. Case No. 19-41785
      Chapter 11 Petition filed November 13, 2019
         represented by: James P. Ehrhard, Esq.
                         EHRHARD & ASSOCIATES, P.C.
                         E-mail: ehrhard@ehrhardlaw.com

In re Dale W. Gehringer, Jr.
   Bankr. E.D. Mich. Case No. 19-56049
      Chapter 11 Petition filed November 13, 2019
         represented by: Stuart A. Gold, Esq.
                         GOLD, LANGE & MAJOROS PC
                         E-mail: sgold@glmpc.com

In re Michael Jacques Jacobs
   Bankr. D.N.M. Case No. 19-12591
      Chapter 11 Petition filed November 13, 2019
         represented by: James Clay Hume, Esq.
                         HUME LAW FIRM
                         E-mail: James@hume-law-firm.com

In re Michael Jacques Jacobs
   Bankr. D.N.M. Case No. 19-12591
      Chapter 11 Petition filed November 13, 2019
         represented by: James Clay Hume, Esq.
                         HUME LAW FIRM
                         E-mail: James@hume-law-firm.com

In re Chuhar Singh
   Bankr. E.D.N.Y. Case No. 19-46814
      Chapter 11 Petition filed November 13, 2019
         represented by: Alla Kachan, Esq.
                         E-mail: alla@kachanlaw.com

In re Enterprise 63 Corp.
   Bankr. E.D.N.Y. Case No. 19-46823
      Chapter 11 Petition filed November 13, 2019
         Filed Pro Se

In re Draw One Coffee Shop, Inc.
   Bankr. E.D.N.Y. Case No. 19-46836
      Chapter 11 Petition filed November 13, 2019
         See http://bankrupt.com/misc/nyeb19-46836.pdf
         represented by: Lawrence Morrison, Esq.
                         MORRISON TENENBAUM PLLC
                         E-mail: info@m-t-law.com

In re Focus Enterprises Ltd.
   Bankr. E.D.N.Y. Case No. 19-46837
      Chapter 11 Petition filed November 13, 2019
         See http://bankrupt.com/misc/nyeb19-46837.pdf
         Filed Pro Se

In re In re Ellen M. Elliott
   Bankr. E.D.N.Y. Case No. 19-77729
      Chapter 11 Petition filed November 13, 2019
         represented by: Clifford Katz, Esq.
                         Teresa Sadutto-Carley, Esq.
                         PLATZER, SWERGOLD, LEVINE, GOLDBERG, KATZ
                         & JASLOW, LLP
                         E-mail: ckatz@platzerlaw.com
                                 tsadutto@platzerlaw.com

In re Steve Pandi
   Bankr. D. Ariz. Case No. 19-14513
      Chapter 11 Petition filed November 14, 2019
         Filed Pro Se

In re Kenya Anderson
   Bankr. C.D. Cal. Case No. 19-23394
      Chapter 11 Petition filed November 14, 2019
         represented by: Vernon R. Yancy, Esq.
                         VERNON R. YANCY ESQ
                         E-mail: yancylaw@sbcglobal.net
  
In re Monument Brewing LLC
   Bankr. M.D. Fla. Case No. 19-10832
      Chapter 11 Petition filed November 14, 2019
         See http://bankrupt.com/misc/flmb19-10832.pdf
         represented by: Samantha L. Dammer, Esq.
                         TAMPA LAW ADVOCATES, P.A.
                         E-mail: sdammer@attysam.com

In re Phyto-Plus, Inc.
   Bankr. M.D. Fla. Case No. 19-10837
      Chapter 11 Petition filed November 14, 2019
         See http://bankrupt.com/misc/flmb19-10837.pdf
         represented by: Buddy D. Ford, Esq.
                         BUDDY D. FORD, P.A.
                         E-mail: Buddy@TampaEsq.com
                                 All@tampaesq.com

In re Patrician Hotel, LLC
   Bankr. S.D. Fla. Case No. 19-25290
      Chapter 11 Petition filed November 14, 2019
         See http://bankrupt.com/misc/flsb19-25290.pdf
         represented by: Robert F. Reynolds, Esq.
                         SLATKIN & REYNOLDS, P.A.
                         E-mail: rreynolds@slatkinreynolds.com,    
            
                                 jslatkin@slatkinreynolds.com

In re 3621 Acquisition, LLC
   Bankr. S.D. Fla. Case No. 19-25301
      Chapter 11 Petition filed November 14, 2019
         See http://bankrupt.com/misc/flsb19-25301.pdf
         represented by: Robert F. Reynolds, Esq.
                         SLATKIN & REYNOLDS, P.A.
                         E-mail: rreynolds@slatkinreynolds.com,
                                 jslatkin@slatkinreynolds.com

In re All Seasons 408, LLC
   Bankr. S.D. Fla. Case No. 19-25302
      Chapter 11 Petition filed November 14, 2019
         See http://bankrupt.com/misc/flsb19-25302.pdf
         represented by: Robert F. Reynolds, Esq.
                         SLATKIN & REYNOLDS, P.A.
                         E-mail: rreynolds@slatkinreynolds.com,
                                 jslatkin@slatkinreynolds.com

In re GAIJ, LLC
   Bankr. S.D. Fla. Case No. 19-25303
      Chapter 11 Petition filed November 14, 2019
         See http://bankrupt.com/misc/flsb19-25303.pdf
         represented by: Robert F. Reynolds, Esq.
                         SLATKIN & REYNOLDS, P.A.
                         E-mail: rreynolds@slatkinreynolds.com,
                                 jslatkin@slatkinreynolds.com

In re Adam Kanter
   Bankr. S.D. Fla. Case No. 19-25312
      Chapter 11 Petition filed November 14, 2019
         represented by: Bart A. Houston, Esq.
                         E-mail: bhouston@thlglaw.com

In re Kirpa Babba Di Inc.
   Bankr. D. Mass. Case No. 19-13917
      Chapter 11 Petition filed November 14, 2019
         See http://bankrupt.com/misc/mab19-13917.pdf
         represented by: Michael Van Dam, Esq.
                         VAN DAM LAW LLP
                         E-mail: mvandam@vandamlawllp.com

In re Joel A. Edlin
   Bankr. N.D. Miss. Case No. 19-14628
      Chapter 11 Petition filed November 14, 2019
         represented by: Robert Gambrell, Esq.
                         GAMBRELL & ASSOCIATES, PLLC
                         E-mail: rg@ms-bankruptcy.com

In re Primesource Incorporated
   Bankr. D. Mont. Case No. 19-61154
      Chapter 11 Petition filed November 14, 2019
         See http://bankrupt.com/misc/mtb19-61154.pdf
         represented by: Gary S. Deschenes, Esq.
                         DESCHENES & ASSOCIATES LAW OFFICES
                         E-mail: gsd@dalawmt.com

In re The Chalet Motel and Apartments, LLC
   Bankr. W.D.N.C. Case No. 19-10452
      Chapter 11 Petition filed November 14, 2019
         See http://bankrupt.com/misc/ncwb19-10452.pdf
         represented by: Edward C. Hay, Jr., Esq.
                         PITTS, HAY & HUGENSCHMIDT, P.A.
                         E-mail: ehay@phhlawfirm.com
                                 firm@phhlawfirm.com

In re Edward J. Hovatter and Kimberly Macaluso Hovatter
   Bankr. D.N.J. Case No. 19-31483
      Chapter 11 Petition filed November 14, 2019
         represented by: Edmond M. George, Esq.
                         OBERMAYER REBMANN MAXWELL & HIPPEL
                         E-mail: edmond.george@obermayer.com

In re O & B Hacking, Corp.
   Bankr. E.D.N.Y. Case No. 19-46885
      Chapter 11 Petition filed November 14, 2019
         See http://bankrupt.com/misc/nyeb19-46885.pdf
         represented by: Alla Kachan, Esq.
                         LAW OFFICES OF ALLA KACHAN, P.C.
                         E-mail: alla@kachanlaw.com

In re Manomay, LLC
   Bankr. W.D. Pa. Case No. 19-24450
      Chapter 11 Petition filed November 14, 2019
         See http://bankrupt.com/misc/pawb19-24450.pdf
         represented by: Robert O. Lampl, Esq.
                         ROBERT O LAMPL LAW OFFICE
                         E-mail: rol@lampllaw.com
                                 rlampl@lampllaw.com

In re Lu-Gon Group, LLC
   Bankr. W.D. Tex. Case No. 19-52713
      Chapter 11 Petition filed November 14, 2019
         See http://bankrupt.com/misc/txwb19-52713.pdf
         represented by: Albert William Van Cleave, III, Esq.
                         LAW OFFICES OF ALBERT W. VAN CLEAVE III
                         E-mail: vancleave-legal@sbcglobal.net

In re Studio Production Center, Inc.
   Bankr. C.D. Cal. Case No. 19-12866
      Chapter 11 Petition filed November 15, 2019
         See http://bankrupt.com/misc/cacb19-12866.pdf
         represented by: Mark E. Brenner, Esq.
                         MARK E. BRENNER, ESQ.
                         E-mail: mebrenner@gmail.com

In re Community Alliance Neighborhood Development LLC
   Bankr. E.D. Cal. Case No. 19-27122
      Chapter 11 Petition filed November 15, 2019
         See http://bankrupt.com/misc/caeb19-27122.pdf
         Filed Pro Se

In re Howard Steven Cohen and Lise Hollander Cohen
   Bankr. D. Colo. Case No. 19-19897
      Chapter 11 Petition filed November 15, 2019
         represented by: Jenny M.F. Fujii, Esq.
                         E-mail: jmf@kutnerlaw.com

In re E Mechanic Plus Inc.
   Bankr. M.D. Fla. Case No. 19-10891
      Chapter 11 Petition filed November 15, 2019
         See http://bankrupt.com/misc/flmb19-10891.pdf
         represented by: Buddy D. Ford, Esq.
                         BUDDY D. FORD, P.A.
                         E-mail: Buddy@TampaEsq.com
                                 All@tampaesq.com

In re Texas Roadrunner Express, LLC
   Bankr. N.D. Tex. Case No. 19-20361
      Chapter 11 Petition filed November 15, 2019
         See http://bankrupt.com/misc/txnb19-20361.pdf
         represented by: Van W. Northern, Esq.
                         NORTHERN LEGAL, PC
                         E-mail: northernlegalpc@gmail.com
                                 northernlaw@suddenlinkmail.com

In re Luis Daniel Ochoa
   Bankr. C.D. Cal. Case No. 19-14489
      Chapter 11 Petition filed November 17, 2019
         represented by: Anerio V. Altman, Esq.
                         LAKE FOREST BANKRUPTCY
                        E-mail: LakeForestBankruptcy@jubileebk.net

In re Christian A. McCue
   Bankr. S.D. Fla. Case No. 19-25482
      Chapter 11 Petition filed November 17, 2019
         represented by: Stan L. Riskin, Esq.
                         E-mail: stan.riskin@gmail.com

In re Stephanie L. Skinner
   Bankr. S.D. Ga. Case No. 19-41637
      Chapter 11 Petition filed November 15, 2019
         represented by: J. Michael Hall, Esq.
                         HALL & NAVARRO, LLC
                         E-mail: mhall@hallnavarro.com

In re Gregory A. Hall
   Bankr. S.D. Ga. Case No. 19-41638
      Chapter 11 Petition filed November 15, 2019
         represented by: J. Michael Hall, Esq.
                         HALL & NAVARRO, LLC
                         E-mail: mhall@hallnavarro.com

In re Ann Marie Paino
   Bankr. D.N.H. Case No. 19-11584
      Chapter 11 Petition filed November 15, 2019
         represented by: Steven M. Notinger, Esq.
                         NOTINGER LAW, PLLC
                         E-mail: steve@notingerlaw.com

In re Louisa F. Correa
   Bankr. D.N.J. Case No. 19-31542
      Chapter 11 Petition filed November 15, 2019
         represented by: David L. Stevens, Esq.
                         SCURA, WIGFIELD, HEYER & STEVENS
                         E-mail: dstevens@scuramealey.com

In re Emanuel Giachetti and Amy Giachetti
   Bankr. S.D.N.Y. Case No. 19-24010
      Chapter 11 Petition filed November 15, 2019
         represented by: Douglas J. Pick, Esq.
                         PICK & ZABICKI LLP
                         E-mail: dpick@picklaw.net

In re Vito Giachetti and Nora Giachetti
   Bankr. S.D.N.Y. Case No. 19-24011
      Chapter 11 Petition filed November 15, 2019
         represented by: Douglas J. Pick, Esq.
                         PICK & ZABICKI LLP
                         E-mail: dpick@picklaw.net

In re Majid Tavakolian
   Bankr. S.D.N.Y. Case No. 19-13696
      Chapter 11 Petition filed November 18, 2019
         represented by: James B. Glucksman, Esq.
                         Robert Leslie Rattet, Esq.
                         RATTET PLLC
                         E-mail: jbglucksman@rattetlaw.com
                                 rrattet@rattetlaw.com

In re Adelita Enterprises, Inc.
   Bankr. W.D. Pa. Case No. 19-24481
      Chapter 11 Petition filed November 18, 2019
         See http://bankrupt.com/misc/pawb19-24481.pdf
         represented by: Rodney D. Shepherd, Esq.
                         LAW OFFICES OF RODNEY SHEPHERD
                         E-mail: rodsheph@cs.com

In re Miguel Angel Marzan Bonilla and Mayra Belen Diaz Laureano
   Bankr. D.P.R. Case No. 19-06775
      Chapter 11 Petition filed November 18, 2019
         represented by: Maria Soledad Lozada Figueroa, Esq.
                         MMLR LEGAL GROUP
                         E-mail: mmlrlegalgroup@gmail.com

In re GF Investments, LLC
   Bankr. D.R.I. Case No. 19-11753
      Chapter 11 Petition filed November 18, 2019
         Filed Pro Se

In re SKLM, LLC
   Bankr. S.D. Ala. Case No. 19-14070
      Chapter 11 Petition filed November 19, 2019
         See http://bankrupt.com/misc/alsb19-14070.pdf
         represented by: Robert M. Galloway, Esq.
                         GALLOWAY WETTERMARK EVEREST &
                         RUTENS, LLP
                         E-mail: bgalloway@gallowayllp.com

In re Farid Dallal
   Bankr. S.D. Fla. Case No. 19-25582
      Chapter 11 Petition filed November 19, 2019
         represented by: Susan D. Lasky, Esq.
                         E-mail: ECF@suelasky.com

In re Yorker NY Realty LLC
   Bankr. E.D.N.Y. Case No. 19-46941
      Chapter 11 Petition filed November 19, 2019
         See http://bankrupt.com/misc/nyeb19-46941.pdf
         represented by: Bruce Weiner, Esq.
                         ROSENBERG MUSSO & WEINER, LLP
                         E-mail: courts@nybankruptcy.net

In re 214 Rest Corp.
   Bankr. E.D.N.Y. Case No. 19-46949
      Chapter 11 Petition filed November 19, 2019
         See http://bankrupt.com/misc/nyeb19-46949.pdf
         represented by: Lawrence Morrison, Esq.
                         MORRISON TENENBAUM, PLLC
                         E-mail: lmorrison@m-t-law.com
                                 info@m-t-law.com

In re Congregation Bais Shlomo Menachem, Inc.
   Bankr. S.D.N.Y. Case No. 19-24041
      Chapter 11 Petition filed November 19, 2019
         See http://bankrupt.com/misc/nysb19-24041.pdf
         represented by: Allen A. Kolber, Esq.
                         LAW OFFICES OF ALLEN A. KOLBER, ESQ.
                         E-mail: akolber@kolberlegal.com

In re LRJ Global Quality Concrete, Inc.
   Bankr. D.P.R. Case No. 19-06780
      Chapter 11 Petition filed November 19, 2019
         See http://bankrupt.com/misc/prb19-06780.pdf
         represented by: Nydia Gonzalez Ortiz, Esq.
                         SANTIAGO & GONZALEZ LAW, LLC
                         E-mail: bufetesg@gmail.com

In re Jerome Albert Grisaffi
   Bankr. N.D. Tex. Case No. 19-33855
      Chapter 11 Petition filed November 19, 2019
         represented by: Joyce W. Lindauer, Esq.
                         JOYCE W. LINDAUER ATTORNEY, PLLC
                         E-mail: joyce@joycelindauer.com


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 2019.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000.

                   *** End of Transmission ***