/raid1/www/Hosts/bankrupt/TCR_Public/210812.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, August 12, 2021, Vol. 25, No. 223

                            Headlines

4YL DEVELOPMENT: Unsecured Creditors to Get $20K Over 8 Years
8TH AVE FOOD: Moody's Rates $125MM Loan Add-on B2, Outlook Negative
8TH AVENUE: S&P Alters Outlook to Negative, Affirms 'B-' ICR
ALASKA AIR: Egan-Jones Keeps B Senior Unsecured Ratings
AMERICAN AIRLINES: Egan-Jones Keeps B- Senior Unsecured Ratings

AMERICAN TIRE: Fitch Assigns FirstTime 'B-' IDR, Outlook Stable
ANGEL'S SQUARE: Disclosure Statement Hearing Slated for Sept. 23
ARTISAN BUILDERS: Koo Buying Property in Scottsdale for $400K
BALLY'S CORP: Fitch Raises IDR to 'B+' & Alters Outlook to Stable
BEZH SERVICES: Menucha's $655K Sale of Denver Asset to Cadena OK'd

BONNIE TILE: Wins Cash Collateral Access
BRE/EVERBRIGHT M6: S&P Assigns 'B-' ICR, Outlook Stable
BUY MOORE: Unsecured Creditors to Recover 90% in 60 Months
CALLON PETROLEUM: Moody's Alters Outlook on B3 CFR to Positive
CAMARINO ASSOCIATES: Taps Narissa A. Joseph as Bankruptcy Counsel

CARDINAL HEALTH: Egan-Jones Hikes Senior Unsecured Ratings to BB+
CASTLEROCK DEVELOPMENT: Taps Rountree Leitman & Klein as Counsel
CBL & ASSOCIATES: Egan-Jones Withdraws D FC Sr. Unsecured Rating
CENTER CITY HEALTHCARE: Taps Cross & Simon as Conflicts Counsel
CIBT GLOBAL: Moody's Appends 'LD' Designation to PDR

CITY WIDE COMMUNITY: Seeks to Hire Hilco as Real Estate Broker
CITY WIDE COMMUNITY: Sets Bid Procedures for All Lancaster Assets
CMC II: Bid Procedures Hearing on Assets Sale Moved to Aug. 24
COOPER TIRE: Egan-Jones Withdraws BB Senior Unsecured Ratings
CORSAIR-USA-NJ: Seeks to Hire Center City Law as Bankruptcy Counsel

COSTA HOLLYWOOD: Liquidating Trustee Taps Cimo as Special Counsel
CROWN HOLDINGS: Egan-Jones Hikes Senior Unsecured Ratings to BB
CYPRESS SEMICONDUCTOR: Egan-Jones Withdraws BB- Sr. Unsec. Ratings
DANIEL T. LEE: Unsecureds to Get 0 Cents on Dollar in Plan
DEA BROTHERS: Ruling on Asset Valuation to Decide Recovery in Plan

DENBURY INC: Egan-Jones Withdraws D Senior Unsecured Ratings
DOW CHEMICAL: Egan-Jones Keeps BB+ Senior Unsecured Ratings
ELDORADO GOLD: Fitch Rates Sr. Unsecured Notes Due 2029 'B+'
EXPO CONSTRUCTION: Unsecs. Get 5% of Claim, a Share in 'Net Profit'
FORD MOTOR: Egan-Jones Keeps B Senior Unsecured Ratings

FREEDOM SALES: Seeks Cash Collateral Access
GCI LIBERTY: Egan-Jones Withdraws CCC+ Senior Unsecured Ratings
GIGA-TRONICS: Reports $860K Net Loss in First Quarter
GNC CORP: Egan-Jones Withdraws D Senior Unsecured Ratings
GNC HOLDINGS: Egan-Jones Withdraws D Senior Unsecured Ratings

GPS HOSPITALITY: Fitch Assigns Final 'B-' LT IDR, Outlook Stable
GRUPO AEROMEXICO SAB: Creditor Committee Objects New Max 737 Leases
HCA HEALTHCARE: Egan-Jones Keeps 'BB' LC Senior Unsecured Ratings
HCA INC: Egan-Jones Keeps BB Senior Unsecured Ratings
HCA WEST: Seeks to Employ Moss Adams as Tax Accountant

HEALTHIER CHOICES: Posts $179,665 Net Income in Second Quarter
HERITAGE RAIL: Trustee Selling SLRG 2210 Rail Car to Potch for $40K
HIGHLAND CAPITAL: $9.75M Sale of Dallas Property to Stonelake OK'd
HILTON GRAND: S&P Lowers ICR to 'B+' After Diamond Acquisition
HOME POINT: Moody's Puts 'B1' CFR Under Review for Downgrade

HOMES BY KC: Chaz Coggins Buying Property in Atlanta for $290K
HOMES BY KC: Seeks Aug. 17 Hearing on Sale of Atlanta Property
HUSKY ENERGY: Egan-Jones Keeps 'B' LC Senior Unsecured Ratings
HYDROCARBON FLOW: Seeks to Hire Wright Moore as Accountant
INGRAM MICRO: Moody's Withdraws Ba1 CFR on Platinum Equity Buyout

INSPIREMD INC: Incurs $3.5 Million Net Loss in Second Quarter
INTELSAT SA: Plan Faces DOJ Opposition on Releases, Management Pay
INTELSAT SA: Timeline to File Supplement Insufficient, UST Says
J.S. CATES CONTRUCTION: Seeks Access to Cash Collateral
JAKKS PACIFIC: Incurs $15.1 Million Net Loss in Second Quarter

JCK LEGACY: Egan-Jones Withdraws C Senior Unsecured Ratings
JET REAL ESTATE: Says Offers for Property to Pay Claims in Full
JOHN DAUGHERTY: Wins Conditional Approval of Disclosure Statement
KNOLL INC: Egan-Jones Withdraws BB- Senior Unsecured Ratings
M/I HOMES: Fitch Assigns BB Rating on $300MM Senior Notes

MANITOWOC COMPANY: Egan-Jones Keeps B Senior Unsecured Ratings
MCDERMOTT INT'L: Egan-Jones Withdraws 'D' FC Sr. Unsecured Rating
MECHANICAL TECHNOLOGIES: Non-Insider Unsecs. to Recover 75% in Plan
MICHAEL FELICE: Unsecureds Owed $1.67M to Get $168K in 3 Years
MIDAS OPCO: Moody's Assigns B2 CFR & Rates $1BB Unsecured Notes B3

MINORITY CONTRACTING: Taps Leftkovitz & Leftkovitz as Legal Counsel
MJ GRAPHICS: Plan Payments to be Funded by Continued Operations
MODIVCARE INC: Moody's Rates New $400MM Unsec. Notes Due 2029 'B2'
MR. CAMPER: Case Summary & 15 Unsecured Creditors
MUSEUM OF AMERICAN JEWISH: Withdraws Fifth Amended Plan, Disclosure

MYCELL TECHNOLOGIES: Seeks to Employ Maltz Auctions as Broker
MYLAN NV: Egan-Jones Withdraws BB+ FC Senior Unsecured Rating
MYOMO INC: Incurs $2.6 Million Net Loss in Second Quarter
NAVISTAR INT'L: Egan-Jones Withdraws 'CCC+' FC Sr. Unsec. Rating
OCULAR THERAPEUTIX: Signs Deal to Sell $100M Worth of Common Shares

P&L DEVELOPMENT: Fitch Assigns B Rating on Sr. Secured Notes
P&L DEVELOPMENT: Moody's Alters Outlook on B3 CFR to Negative
PG&E CORP: Ordered by Court to Explain Role in 2021 Fires
PGX HOLDINGS: S&P Withdraws Long-Term 'CCC+' Issuer Credit Rating
PRIME ECO: Seeks to Employ Margaret McClure as Bankruptcy Counsel

PURDUE PHARMA: Defends Sacklers Release in Bankruptcy Plan
QUANTUM CORP: Incurs $4.2 Million Net Loss in First Quarter
RADIUS INTELLIGENCE: Files for Chapter 7 Bankruptcy
REGENTS COURT: Trustee Taps Tranzon Asset Advisors as Auctioneer
RESTIERI HEALTHCARE: Seeks Cash Collateral Access

ROCKVILLE CENTRE DIOCESE: Says Sexual Abuse Claims Beyond 150
RYAN 1000: Seeks to Hire Kerkman & Dunn as Bankruptcy Counsel
SAMARCO MINERACAO: Creditors Provide Better Loan Than Vale-BHP
SAVI TECHNOLOGY: Taps Benjamin Smith as Bankruptcy Counsel
SCOTTS MIRACLE-GRO: Moody's Rates $400MM Sr. Unsecured Notes 'Ba3'

SCOTTS MIRACLE-GRO: S&P Rates New $400MM Sr. Unsecured Notes 'B+'
SESI HOLDINGS: Egan-Jones Withdraws D Senior Unsecured Ratings
SIX FLAGS: S&P Upgrades ICR to 'B+', Outlook Positive
SOMETHING SWEET: Seeks to Hire Reliable Companies as Claims Agent
SORROEIX INC: Sale of 5 Memphis Properties for $105K Approved

SOTO'S AUTO & TRUCK: Seeks Cash Collateral Access
SOUTH COAST BEHAVIORAL: $11.2M Sale to SCHG LLC to Fund Plan
SOUTH MOON: Unsecs. to be Paid in 5 Years, Plus 3% Interest P.A.
SOUTHWEST AIRLINES: Egan-Jones Keeps BB Senior Unsecured Ratings
STAGWELL INC: S&P Assigns B+ Issuer Credit Rating, Outlook Stable

SUMMIT MIDSTREAM: Posts $19.7 Million Net Loss in Second Quarter
SVXR INC: Seeks to Hire Omni Agent Solutions as Claims Agent
TECH DATA: Egan-Jones Withdraws BB+ Senior Unsecured Ratings
TELEPHONE AND DATA: Fitch Rates Proposed Preferred Stock 'BB-'
TENET HEALTHCARE: Egan-Jones Keeps CCC+ FC Senior Unsecured Rating

THEOS FEDRO: Trustee Seeks to Hire NRT West as Real Estate Broker
TOWN SPORTS: Egan-Jones Withdraws 'D' FC Senior Unsecured Rating
TRADEMARK DEVELOPERS: Hits Chapter 11 Bankruptcy Protection
TUFAIL & ASSOCIATES: Taps Evan Weissman as Real Estate Broker
VERICAST CORP: Moody's Rates New Second Lien Secured Notes 'Caa3'

VERICAST CORP: Sells $540 Million Junk Bond to Rework Debt Load
VERITAS NL: Moody's Affirms B3 CFR & Lowers 1st Lien Debt to B3
WASHINGTON PRIME: Committee Taps FTI as Financial Advisor
WATKINS NURSERIES: Court Confirms Second Amended Plan
WINDSTREAM HOLDINGS: Egan-Jones Withdraws D Sr. Unsecured Ratings

WING'S SPIRIT: Faces Fraud Suits As It Undergoes Liquidation
WOODSTOCK LANDSCAPING: Seeks to Hire KKB&N CPAs as Accountant
WR GRACE: Fitch Assigns B+ Rating on New Unsec. Notes Due 2029 'B+'
ZARAPHATH ACADEMY: Taps Legacy Financial as Financial Advisor
ZAYAT STABLES: Ahmed Creditor Fights Bankruptcy Lawyers' Withdrawal

[*] Claims Trading Report - July 2021
[^] Recent Small-Dollar & Individual Chapter 11 Filings

                            *********

4YL DEVELOPMENT: Unsecured Creditors to Get $20K Over 8 Years
-------------------------------------------------------------
4YL Development, Inc., filed with the U.S. Bankruptcy Court for the
Western District of Texas a Disclosure Statement and accompanying
Plan of Reorganization dated August 9, 2021.

4YL is a Texas corporation operating in El Paso since July 27,
2016. It is an owner-operator of multi-family residential real
estate in El Paso, Texas renting apartment units within its
properties. All leases are for residential property. During the
course of the reorganization, 4YL entered into arrangements to
surrender 6 of the Rental Properties to the respective first and
second lien holders.

As a result of impending foreclosures resulting from descreased
rental income during the COVID-19 Pandemic, the only option
available to be able to stay in business was to file for Chapter 11
relief.

4YL's Plan is based on future rental income which is the sole
source of monthly revenue for payment of Allowed Claims under the
Plan. Financial forecasts were prepared by 4YL based on current
data from operations since the Petition Date. It is projected that
monthly net income from 4YL will be sufficient to fund the monthly
debt and claim payments.

On June 6, 2021, a fire occurred at 131 – 141 Newman, the
property on which RASK Holdings, LLC has a first lien security
interest and Ruben Moralez holds a second lien deed of trust. There
is insurance coverage with Atlantic Casualty Insurance. A claim was
immediately filed. The initial investigation by the El Paso Fire
Department found that the cause of the fire was inconclusive.
Adjusters for the insurer are currently conducting additional
investigations at the site.

Since the Newman Property was surrendered to RASK under the terms
of the Agreed Order on Motion for Relief from Automatic Stay, 4YL
is assigning the insurance proceeds in the ultimate amount approved
by the insurer to RASK Holdings.

Class 7(b) consists of General Unsecured Creditors Filing Proofs of
Claim – Deficiencies for Second Lienholders on Surrendered
Properties. 4YL proposes to pay a total of $20,000 to the Class
7(b) Unsecured Creditors. 4YL will disburse the $20,000 over 8
years with interest at 5.00%. Monthly payments in the total amount
of $230 will be made beginning on the effective date with like
payments to be on the 15th day of each succeeding month until the
total of $20,000 with interest is paid. Payments will be shared
pro-rata amongst the Class 7(b) creditors. This Class is impaired.

Class 7(c) consists of the General Unsecured Claim of the Bank of
America which arises from a Paycheck Protection Program Loan
received by 4YL prepetition. 4YL has received notification from BoA
that the PPP Loan will be forgiven. Thus, no dustributions will be
made to BoA under the Plan.

Class 7(e) consists of the General Unsecured Claims of Insiders.
This Class shall be subordinated, but also waived.

Class 8 consists of the Equity Holder of 4YL Doug Rutter who will
retain his equity interest in 4YL.

Doug Rutter and his wife Terri Rutter have personally guaranteed
all of the secured debt. Pursuant to the terms of the Agreed Order
on the Applications to Compromise Controversy, their personal
guarantees have been released as to the Surrenders Properties. With
regards to the Retained Properties, including second liens, if any,
the personal guarantees remain in effect.

The Plan is based on the future earnings of 4YL and it will commit
this revenue to funding the Plan.

A full-text copy of the Disclosure Statement dated August 9, 2021,
is available at https://bit.ly/3lQ6T8I from PacerMonitor.com at no
charge.

Attorneys for the Debtor:

     Carlos Miranda, Esq.
     Carlos G. Maldonado, Esq.
     Miranda & Maldonado, PC
     2915 Silver Springs Bldg. 7
     El Paso, TX 79912
     Tel: (915) 587-5000
     Email: cmiranda@eptxlawyers.com

                    About 4YL Development

4YL Development, Inc., is an owner-operator of multi-family
residential real estate in El Paso, Texas renting apartment units
within its properties.  4YL Development sought Chapter 11
protection (Bankr W.D. Tex. Case No. 21-30157) on March 1, 2021.
At the time of the filing, the Debtor disclosed assets of between
$1 million and $10 million and liabilities of the same range.
Judge H. Christopher Mott oversees the case.  Miranda & Maldonaldo,
PC, led by Carlos Miranda, Esq., is the Debtor's legal counsel.


8TH AVE FOOD: Moody's Rates $125MM Loan Add-on B2, Outlook Negative
-------------------------------------------------------------------
Moody's Investors Service affirmed the B2 Corporate Family Rating
and B2-PD Probability of Default Rating of 8th Avenue Food &
Provisions, Inc. ('8th Ave'). Moody's additionally affirmed the B2
ratings on 8th Ave's existing first lien senior secured revolver
and term loan and the Caa1 rating on the company's second lien
senior secured term loan. Moody's also assigned a B2 rating to the
company's proposed $125 million add-on first lien senior secured
term loan. Moody's changed 8th Ave's rating outlook to negative
from stable.

The rating actions follow 8th Ave's announced incremental $125
million term loan that will be primarily used to repay borrowings
under the company's revolving credit facility which were used to
fund the acquisition of the Ronzoni dry pasta business in a
transaction that closed on May 31, 2021.

The change in outlook to negative is the result of the company's
weak free cash flow and Moody's expectation that high financial
leverage will persist well into fiscal 2022 due to a number of
overlapping factors. These factors include efforts by the company
to absorb inflationary commodity and labor cost pressures and
various ongoing projects at plant levels to address capacity
constraints, increase efficiencies and maintain high product
quality controls. The negative outlook also reflects Moody's view
that a return to more normalized demand levels in retail and
foodservice channels will partially offset the benefit from the
company's growth and cost mitigation initiatives, slowing the pace
of anticipated earnings growth over the next few quarters. Moody's
also projects that free cash flow will be modestly negative in the
fiscal year ended September 2022. This weakens the company's
ability to lower leverage through debt reduction.

Moody's nevertheless expects that the recently closed acquisition
of Ronzoni dry pasta business will provide new growth opportunities
for 8th Ave through market expansion and pricing opportunities that
are less achievable with the private label dry pasta business.
Adding a newer plant with incremental production capacity will also
provide longer-term operational benefits. The plant is located
closer to many of the company's suppliers and customers, which will
help with service levels and reduction of logistical costs and the
near-term avoidance of capital investment for a new pasta line at a
different location that would be necessary to avoid capacity
constraints.

Moody's affirmed the B2 CFR because the financing improves the
company's liquidity including repaying revolver borrowings and
adding roughly $17 million of cash to the balance sheet to help
fund anticipated cash needs. With the $150 million revolver
expiring in October 2023 undrawn, the company has no material debt
maturities until the first lien term loan matures in October 2025.
The company's good liquidity provides some flexibility to execute
growth and cost reduction initiatives, realize operational benefits
of the Ronzoni acquisition, and potentially reduce leverage to a
level more in line with Moody's expectations for the B2 CFR in
fiscal 2023.

The following ratings/assessments are affected by the action:

New Assignments:

Issuer: 8th Avenue Food & Provisions, Inc.

Senior Secured 1st Lien Term Loan, Assigned B2 (LGD3)

Ratings Affirmed:

Issuer: 8th Avenue Food & Provisions, Inc.

Corporate Family Rating, Affirmed B2

Probability of Default Rating, Affirmed B2-PD

Senior Secured 1st Lien Term Loan, Affirmed B2 (LGD3)

Senior Secured 1st Lien Revolving Credit Facility, Affirmed B2
(LGD3)

Senior Secured 2nd Lien Term Loan, Affirmed Caa1 (LGD6)

Outlook Actions:

Issuer: 8th Avenue Food & Provisions, Inc.

Outlook, Changed To Negative From Stable

RATINGS RATIONALE

8th Ave's credit profile (B2 CFR) reflects its relatively small
scale within the US packaged foods sector, high financial leverage
and risks associated with private equity ownership, including an
aggressive financial policy and event risk related to debt-funded
acquisitions and shareholder distributions. Moody's estimates that
negative free cash flow in fiscal year September 2021 and 2022
creates reliance on earnings growth to reduce the company's high
leverage. Moody's projections that debt-to-EBITDA leverage will
fall to just over 6x in fiscal 2022, largely from efficiency
initiative and capacity expansion. Commodity cost increases and
gradual rotation from the elevated at-home food consumption during
the coronavirus pose earnings and de-leveraging headwinds. The
credit profile also takes into account the company's leadership
position within narrowly defined private label food categories
including private label nut butters, healthy snacks, and dry pasta.
Moody's views these products as more commodity-oriented than other
packaged food products, which creates greater risk of price
competition and limits margin potential. Pro forma for the Ronzoni
dry pasta business acquisition, 8th Ave will still remain as a
distant #2 player in the fragmented pasta industry domestically.

The packaged food sector is moderately exposed to social risks
related to responsible production, health and safety standards and
evolving consumer consumption shifts to healthier foods. The sector
is also moderately exposed to environmental risks such as
soil/water and land use, and energy & emissions impacts, among
others. These factors will continue to play an important role in
evaluating the overall creditworthiness of food processors.

The coronavirus outbreak and the government measures put in place
to contain it continue to disrupt economies and credit markets
across sectors and regions. Although an economic recovery is
underway, it is tenuous, and its continuation will be closely tied
to containment of the virus. As a result, there is uncertainty
around Moody's forecasts. Moody's regard the coronavirus outbreak
as a social risk under its ESG framework, given the substantial
implications for public health and safety.

Governance risk factors primarily relate to Moody's expectation
that financial policies will continue to be aggressive under
private equity ownership.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

Ratings could be upgraded if EBITDA margins increase to at least
15%, debt/EBITDA is sustained below 5.0x and the company maintains
good liquidity including strong free cash flow generation.

Ratings could be downgraded if operating performance does not
sufficiently improve to reduce the company's high leverage level
and restore consistent and comfortably positive free cash flow.
Specifically, debt to EBITDA sustained above 6.0 times, financial
policy that becomes more aggressive, or a deterioration in
liquidity could lead to a downgrade.

The principal methodology used in these ratings was Consumer
Packaged Goods Methodology published in February 2020.

Based in St. Louis, Missouri, 8th Avenue Food & Provisions, Inc. is
a leading manufacturer and distributor of private brand food
products. The company sells to retail, foodservice and food
ingredient customers. 8th Avenue was formed in 2018 through a
strategic carve-out of subsidiary companies previously owned by
Post Holdings, Inc. (B1 stable). Annual revenues are approximately
$1 billion pro forma for the May 2021 Ronzoni acquisition.

As part of the separation from Post, the private equity firm Thomas
H. Lee Partners, L.P. ("THL") purchased a 39.5% equity share, while
Post retained 60.5% of the common equity, which it accounts for
using the equity method. Under the terms of the 8th Avenue
governing documents, THL has a controlling interest in 8th Avenue
due to its PIK preferred stock holding and substantive
participating rights.


8TH AVENUE: S&P Alters Outlook to Negative, Affirms 'B-' ICR
------------------------------------------------------------
S&P Global Ratings assigned its 'B-' issue-level and '3' recovery
ratings to U.S.-based private label food manufacturer 8th Avenue
Food & Provisions Inc.'s proposed incremental term loan. The '3'
recovery rating indicates its expectation for meaningful recovery
(50%-70%; rounded estimate: 60%) in the event of a default.

S&P said, "We also affirmed our 'B-' issuer credit rating and 'B-'
issue-level and '3' recovery ratings on the company's existing
first-lien term loan due in 2025, and our 'CCC' issue-level and '6'
recovery ratings on the company's second-lien term loan due in
2026.

"Despite the ratings affirmation, we revised our outlook to
negative from stable. 8th Avenue underperformed our expectations in
its third fiscal quarter (ended June 30, 2021), resulting in pro
forma leverage increasing to about 13x from 9x for the same
prior-year period.

"The negative outlook reflects that we could lower the ratings over
the next 12 months if the company's operating performance does not
improve following recent operational missteps.

"The outlook revision to negative reflects weaker-than-expected
year-to-date operating performance and several operational
challenges.8th Avenue recently reported a nearly 12% decline in net
sales and 45% decline in reported EBITDA in its third fiscal
quarter (ended June 30, 2021). We expected a revenue decline for
the quarter because the company lapped the period of elevated
demand near the beginning of the pandemic when consumers
pantry-loaded and drastically increased their at-home food
consumption. However, the decline was greater than we expected,
primarily due to capacity constraints caused by labor shortages and
delays in ramping up its new nut butter line in Troy, Ala." In
addition, it proactively discovered a quality issue that caused
further delays, weakened service levels, and required incremental
costs to rectify.

Plant relocation project presents execution risk on top of already
weak performance.

8th Avenue intends to use the remaining proceeds from the
incremental term loan for general corporate purposes, which will
likely include capital spending and working capital related to the
relocation of one of its manufacturing facilities. The company
plans to build a new facility in the U.S. to replace a facility in
Canada because the lease expires in mid-2022. S&P believes there is
some execution risk in completing the new facility, and if it
cannot do so in time the impact will be material because the
facility contributes about 15% of the company's total pro forma
revenue. Management intends to build excess inventory in advance to
help minimize the possibility of product shortages.

Higher input costs are an additional risk to S&P's forecast.

Like many other food manufacturers, 8th Avenue is facing higher
wage, commodity, freight, and packaging costs. The company is in
the process of implementing price increases, which should cover the
higher year-to-date costs and management's expectation for cost
increases into next year. S&P expects this will result in some
margin recovery in fiscal 2022 as the price increases are realized,
although higher-than-expected inflation remains an ongoing risk
factor. The price increases are necessary to preserve margin but
having to do so while service levels are subpar due to capacity
constraints puts the company at risk of stressing its customer
relationships.

Ronzoni is highly complementary and should be accretive.

Until now, 8th Avenue was largely a private label and contract
manufacturing company. S&P views the Ronzoni business as highly
complementary to the company's existing pasta business. Ronzoni
generates 50% of its volume and one-third of its net sales from
private label and co-manufacturing. 8th Avenue management believes
Ronzoni offers several strategic advantages, including the ability
to cross-sell both branded and private label pasta to its retail
customers. A branded product will also help with capacity
utilization when private label demand fluctuates. Ronzoni is
higher-margin than 8th Avenue, so the acquisition is immediately
margin accretive, and the company also expects $8 million of cost
synergies over the next 24 months. The addition of the Ronzoni
pasta plant will allow the company to avoid making significant
capital investments to increase capacity organically, and the
location of the plant in Virginia makes it more cost-effective for
8th Avenue to service its East Coast customers. Further, the
company believes it can expand distribution of the Ronzoni brand
outside of its core geographic regions and become a much more
dominant No. 2 player in the category.

S&P forecasts leverage in the low-teens and negative free cash flow
through fiscal 2022.

S&P said, "Given the company's capacity and inflation challenges,
combined with the cash outflows required to build the new facility,
we expect leverage to remain very high over at least the next 12-18
months. We forecast pro forma leverage (excluding cost synergies)
at about 13x in fiscal 2021 (ending Sept. 30, 2021), and about 12x
in fiscal 2022. Our measure of leverage includes preferred stock,
which we view as a debtlike obligation and which typically adds at
least 3x-4x to leverage. We also anticipate negative free cash flow
through fiscal 2022.

"Notwithstanding the negative outlook, we expect the company's
EBITDA cash interest coverage will remain healthy above 2x, it will
maintain adequate liquidity, and we believe it will generate
meaningful positive free cash flow in fiscal 2023 and beyond once
the Troy line is running at full capacity, the new facility is
completed, and the one-time costs to build it drop off. We also
believe there is relatively stable demand for its product
categories, and we expect private label growth will accelerate when
stimulus and excess unemployment benefits cease and consumer
behavior returns to normal.

"Our rating on 8th Avenue does not include any uplift from its
status as a majority-owned subsidiary of Post Holdings Inc.,
because we view the investment as nonstrategic.

"Post does not guarantee 8th Avenue's debt, and our base-case
expectation has been that Post would not support it during times of
stress. Nevertheless, we recognize the possibility that Post or
minority sponsor owner Thomas H. Lee Partners would consider
contributing cash if 8th Avenue had a short-term liquidity need but
its intermediate-term prospects are still favorable. Post has a
holding-company operating model whereby it regularly buys and sells
assets. We believe the success of this strategy depends in part on
the performance of the assets it spins off. If they fail, it could
dampen investor interest for other assets Post decides to spin off
in the future.

"The negative outlook reflects that we could lower the ratings over
the next 12 months if the company's operating performance does not
improve following recent operational missteps.

"We could lower our ratings on 8th Avenue any time over the next 12
months if we believe its capital structure is unsustainable, likely
the result of an inability to stabilize its operating performance
and execute on its near-term investment projects, resulting in its
sustained low-teens leverage and negative free cash flow for a
prolonged period."

S&P could revise the outlook to stable if the company:

-- Completes its plant relocation project on time and on budget;

-- Resolves the issues at its Troy nut butter plant and begins
producing at higher capacity; and

-- Successfully realizes price increases to offset inflation.

The above factors, combined with good ongoing cost control, would
give S&P confidence that the company will return to generating
positive free cash flow in fiscal 2023.



ALASKA AIR: Egan-Jones Keeps B Senior Unsecured Ratings
-------------------------------------------------------
Egan-Jones Ratings Company, on July 30, 2021, maintained its 'B'
foreign currency and local currency senior unsecured ratings on
debt issued by Alaska Air Group, Inc.

Headquartered in SeaTac, Washington, Alaska Air Group, Inc. is an
airline holding company.



AMERICAN AIRLINES: Egan-Jones Keeps B- Senior Unsecured Ratings
---------------------------------------------------------------
Egan-Jones Ratings Company, on July 30, 2021, maintained its 'B-'
foreign currency and local currency senior unsecured ratings on
debt issued by American Airlines Group Inc. EJR also maintained its
'B' rating on commercial paper issued by the Company.

Headquartered in Fort Worth, Texas, American Airlines Group Inc.
operates an airline that provides scheduled passenger, freight, and
mail service throughout North America, the Caribbean, Latin
America, Europe, and the Pacific.



AMERICAN TIRE: Fitch Assigns FirstTime 'B-' IDR, Outlook Stable
---------------------------------------------------------------
Fitch Ratings has assigned first time Long-Term Issuer Default
Ratings of 'B-' to ATD New Holdings, Inc. (ATD) and its American
Tire Distributors, Inc. (ATDI) subsidiary. In addition, Fitch has
assigned ratings of 'BB-'/'RR1' to ATDI's secured ABL revolving
credit facility, 'B'/'RR3' to ATDI's secured term loan, and
'CCC'/'RR6' to ATDI's first-in, last-out (FILO) secured term loan.

Fitch's ratings apply to a $1.0 billion secured ABL revolver, a
$795 million secured term loan, and a $150 million secured FILO
term loan.

The Rating Outlooks for ATD and ATDI are Stable.

KEY RATING DRIVERS

Ratings and Outlook: ATD's ratings reflect the company's leading
market position as a distributor of passenger vehicle and light
truck replacement tires in North America. The ratings also reflect
ATD's FCF generation and solid performance through the pandemic.
However, the company's high leverage weighs on the ratings, as does
its limited geographical and product category diversification as a
tire distributor focused solely on the U.S. and Canadian markets.
The Stable Outlook reflects Fitch's expectation that the most
severe effects of the pandemic are behind the company and that
leverage will decline over the next several years as the company
targets excess cash toward debt reduction.

Solid FCF Generation: Fitch expects ATD to generate solid FCF over
the next several years on stronger end-market conditions. Fitch
expects ATD's FCF margin (as calculated by Fitch) will be about
0.5% in 2021, before rising toward 1.5% over the next several
years. ATD's actual FCF margin was 1.5% in 2020, and was supported
by working capital inflows resulting from enhanced vendor terms,
lower cash interest expense, as well as reduced capex levels. ATD's
capital intensity (capex/revenue) tends to be low, and Fitch
expects capital intensity to remain below 1.0% over the next
several years.

High Leverage: Fitch expects ATD's lease-adjusted gross EBITDAR
leverage (lease-adjusted debt/operating EBITDAR, as calculated by
Fitch) to decline to 6.3x by YE 2021 as a result of strong
end-market demand, partially offset by cost headwinds from higher
labor, freight and logistics expenses. Beyond 2021, Fitch expects
lease-adjusted EBITDAR leverage to decline towards the low-5x range
over the next several years, driven by a combination of higher
EBITDAR and debt reduction. ATD's actual lease-adjusted EBITDAR
leverage at YE 2020 was 7.6x, which was down from 8.6x at YE 2019,
due to a combination of operating performance improvement and debt
repayment.

Lease-adjusted leverage is higher than gross EBITDA leverage (total
debt/operating EBITDA) due to the company's use of operating leases
for its facilities. At YE 2020, gross EBITDA leverage was 7.3x.
Fitch expects ATD's gross EBITDA leverage to decline below 5.5x by
YE 2021.

Improving Coverage Metrics: Fitch expects ATD's funds from
operation (FFO) fixed charge coverage to rise toward 1.5x by YE
2021, up from 1.2x at YE 2020. After 2021, Fitch expects FFO fixed
charge coverage to stabilize around 1.5x over the next several
years.

Goodyear's acquisition of Cooper: In June 2021, The Goodyear Tire &
Rubber Company (Goodyear) acquired Cooper Tire & Rubber Company
(Cooper), a vendor to ATD, as well as one of several suppliers to
ATD's private label tire portfolio. In 2018, Goodyear and
Bridgestone Corporation formed their own tire distributor, TireHub,
LLC, and Goodyear ended its relationship with ATD.

Following its acquisition of Cooper, Goodyear has not announced
whether it plans to change Cooper's arrangements with ATD. Although
Fitch recognizes that there is some risk that Goodyear could change
Cooper's relationship with ATD, this risk is partially mitigated by
ATD's staggered, multi-year agreements with a number of its
vendors, as well as its ability to source private label products
from several suppliers. ATD also demonstrated an ability to recover
nearly all of the lost volume following the TireHub formation by
increasing volumes with new and existing vendors. In 2020, Cooper
represented less than 10% of ATD's consolidated revenues.

Limited Diversification: Compared with other Fitch-rated
distributors, ATD's ratings incorporate the company's limited
diversification as a tire distributor in North America, as opposed
to distributors of multiple product categories in more global
regions. However, the stability of the replacement tire end-market,
coupled with ATD's exposure to tires across the value chain,
including of its own private label brands, helps to partially
mitigate this risk. In addition, the growth of ATD's additional
service offerings, such as its Flx Fwd third-party logistics
business and its Torqata data intelligence unit, will further
diversify ATD's product and service offerings.

DERIVATION SUMMARY

ATD's operating profile is relatively strong compared with its
peers, with limited exposure to cyclical end-markets, such as
automotive original equipment manufacturers. ATD's business is less
diversified than that of LKQ Corporation (BBB-/Stable), which
distributes a wide range of automotive products on a globally.
ATD's exposure to non-tire related products and services is still
limited (although Fitch expects this to grow over time) and its
sales are concentrated in the U.S. and Canada.

Fitch expects ATD's leverage to remain relatively high compared to
its peer group. Lease-adjusted debt/EBITDAR has historically run
near the high-7x to mid-8x range over the past couple of years, but
it is expected to decline towards the low-5x range over the
intermediate term. ATD's FCF margins are not as robust as those of
LKQ or Wesco International, Inc.'s (BB-/Stable), but Fitch
nonetheless expects the company to produce positive FCF margins in
the low-single digit range.

KEY ASSUMPTIONS

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

-- Revenue rises by 18% in 2021 and 5% in 2022 before moderating
    to approximately 4% in both 2023 and 2024. Higher revenue is
    supported by solid replacement tire volume and pricing, as
    well as growth in ATD's logistics and service offerings;

-- FCF margins run in the 0.5%-1.5% range over the next several
    years;

-- Capital intensity is stable at about 0.7%;

-- Fitch expects the company to direct excess cash toward debt
    reduction.

KEY RECOVERY RATING ASSUMPTIONS

The recovery analysis assumes ATD would be considered a going
concern in bankruptcy and would be reorganized rather than
liquidated. Fitch has assumed a 10% administrative claim in the
recovery analysis.

ATD's recovery analysis reflects a situation in which it loses a
key customer and estimates the going-concern EBITDA at $250
million, which reflects Fitch's view of a sustainable,
post-reorganization EBITDA level upon which the valuation of the
company would be based following a hypothetical default. The
sustainable, post-reorganization EBITDA is for analytical valuation
purposes only and does not reflect a level of EBITDA at which Fitch
believes the company would fall into distress.

The going-concern EBITDA considers ATD's stable operations,
exposure to the more-stable replacement tire market and the
non-discretionary nature of its products. Weighed against these
attributes are the company's low operating margins and the
relatively powerful position of its vendors. The $250 million
ongoing EBITDA assumption is higher than Fitch's calculated actual
EBITDA in 2020, which included the effects of the pandemic.

Fitch utilizes a 5.25x EV multiple based on ATD's leading market
position and relative stability of the automotive replacement tire
end-market, which is consistent with Fitch's recovery rating
criteria. ATD was previously re-organized at an EV around 9.0x in
2018.

According to Fitch's "Automotive Bankruptcy Enterprise Values and
Creditor Recoveries" report published in January 2021, about 48% of
auto-related defaulters had exit multiples above 5.0x, with about
24% in the 5.0x to 7.0x range. However, the median multiple
observed across 21 issuers was only 5.0x. Within the report, Fitch
observed that 87% of the bankruptcy cases analyzed were resolved as
a going concern. Automotive defaulters were typically weighed down
by capital structures that became untenable during a period of
severe demand weakness, due either to economic cyclicality or the
loss of a significant customer, or they were subject to significant
operational issues.

Fitch's recovery analysis assumes a $754 million draw on ATD's $1.0
billion ABL, which is based on a 75% draw and considers Fitch's
estimated value of the borrowing base as of April 3, 2021. The ABL
receives first priority in the distribution of value. Due to the
ABL's first-lien claim on ring-fenced collateral, the facility
receives a Recovery Rating of 'RR1' with a waterfall generated
recovery computation (WGRC) in the 91%-100% range.

The $795 million senior secured term loan has second priority in
the distribution value and receives a lower priority than the ABL
in the distribution of value hierarchy. This results in a Recovery
Rating of 'RR3' with a WGRC in the 51%-70% range.

The $150 million senior secured exit FILO term loan has the lowest
priority in the distribution of value. This is due to the facility
having a second priority interest in the ABL collateral package and
a third priority interest in the term loan collateral package.
Fitch's assumption is driven by the facility's lack of a first
priority interest in a dedicated collateral package. This results
in a Recovery Rating of 'RR6' with a WGRC in the 0%-10% range,
owing to the amount of secured debt positioned above it in the
distribution waterfall.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

-- Sustained lease-adjusted EBITDAR leverage below 5.5x;

-- Sustained FFO fixed charge coverage ratio above 2.0x;

-- Sustained FCF margins above 1.5%.

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- Loss of a key customer;

-- Sustained lease-adjusted EBITDAR leverage above 6.5x;

-- Sustained FFO fixed charge coverage ratio below 1.7x;

-- Sustained FCF margins below 0.5%;

-- Liquidity concerns increase and/or heightened refinancing risk
    in the medium-term.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: As of April 3, 2021, ATD had $28 million of
consolidated cash and cash equivalents. In addition to its cash on
hand, ATD maintains additional liquidity through a $1.005 billion
secured ABL revolver that matures in 2023 and is divided into three
tranches. As of April 3, 2021, there were approximately $595
million in borrowings combined on the three ABL tranches, with
roughly $145 million in remaining available capacity after
accounting for the borrowing base.

Based on its criteria, Fitch has treated all of ATD's cash as not
readily available as of April 3, 2021 for purposes of calculating
net metrics. Fitch's calculation is based on the amount of cash
that Fitch believes the company would need to keep on hand to cover
seasonality in its cash flows without the need for incremental
borrowing or temporary revolver draws. Despite Fitch treating all
of the company's cash as not readily available, Fitch believes ATD
has sufficient financial flexibility to meet its near-term cash
obligations.

Debt Structure: As of April 3, 2021, ATDI had $1.5 billion in total
debt outstanding. Debt consisted of $595 million in secured ABL
borrowings, $14 million Canadian ABL borrowings, $7.9 million in
Canadian FILO facility ABL borrowings, $780 million in secured term
loan borrowings due 2024, $150 million in secured FILO exit term
loan borrowings due 2023 and $0.2 million of other debt.

ISSUER PROFILE

ATD is a leading distributor of passenger vehicle and light truck
replacement tires in the U.S. and Canada. The company supplies its
customers with eight of the top 10 leading passenger vehicle and
light truck tire brands. ATD also markets tires under its
proprietary Hercules brand.

ESG CONSIDERATIONS

The highest level of ESG credit relevance, if present, is a score
of '3'. This means ESG issues are credit-neutral or have only a
minimal credit impact on the entity, either due to their nature or
to the way in which they are being managed by the entity.


ANGEL'S SQUARE: Disclosure Statement Hearing Slated for Sept. 23
----------------------------------------------------------------
Judge Peter D. Russin of the U.S. Bankruptcy Court for the Southern
District of Florida will consider approval of the Disclosure
Statement of Angel's Square, Inc. at an in-person hearing on
September 23, 2021 at 1:30 p.m.  Interested parties may also attend
the hearing remotely via Zoom Video Conference.

The Court has set the deadline to serve the current order, the
Disclosure Statement and the Plan on August 24, 2021.

The deadline to file objections to the Disclosure Statement is
September 16, 2021.

A copy of the order is available for free at https://bit.ly/2VNG5v3
from PacerMonitor.com.

Counsel for the Debtor:

   Behar, Gutt & Glazer, P.A.
   Design Center of the Americas
   Suite A-350
   1855 Griffin Road
   Fort Lauderdale, FL 33004
   Telephone: 954-733-7030
   Telephone: 305-931-3771
   Facsimile: 305-931-3774

                       About Angel's Square

Fort Lauderdale, Fla.-based Angel's Square, Inc. is a single asset
real estate debtor (as defined in 11 U.S.C. Section 101(51B)).

Angel's Square sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Fla. Case No. 21-13576) on April 15, 2021.
Fernando D. Gill, registered agent, signed the petition.  In its
petition, the Debtor disclosed total assets of up to $10 million
and total liabilities of up to $1 million.  Judge Peter D. Russin
oversees the case.  Behar Gutt & Glazer, P.A. is the Debtor's legal
counsel.



ARTISAN BUILDERS: Koo Buying Property in Scottsdale for $400K
-------------------------------------------------------------
Artisan Builders, LLC, asks the U.S. Bankruptcy Court for the
District of Arizona to authorize the short sale of the real
property located at 16424 E. Desert Vista Trail, in Scottsdale,
Arizona, to Edwin Koo for $400,000, subject to higher and better
offers.

The Debtor is a homebuilder.  At the time of filing its Petition it
held title to 18 parcels of real property on most of which it
intended to construct single-family residences, including the
Subject Property.  The Subject Property is a vacant lot.

The Debtor has entered into a Vacant Land/Lot Real Estate Purchase
Contract for the sale of the Subject Property with the Buyer.  The
purchase price is $400,000.  Escrow is to close 15 days from Court
approval.  A $5,000 initial deposit will be paid by the Buyer.  The
balance is due, all cash, at the close of sale.  The Debtor has
made and will make the property available for the Buyer's
inspection as requested.

America's Specialty Finance Co. ("ASFC") issued a loan in the
principal amount of $375,000 secured by a first position deed of
trust against the subject property.  It contends the balance
currently owed by the Debtor and secured by the Subject Property is
well in excess of $410,000.

Real Estate Finance Corp. ("REFCO") holds a second position deed of
trust, securing the principal amount of $100,000.  This loan,
however, did not fund.

On June 3, 2021, the Court issued its Order Authorizing Employment
of Urban Blue Realty, LLC, and its broker, Nicolas Blue, to list
and sell the subject property for the Debtor.  The Listing
Agreement and Purchase Contract call for this broker and agent,
Bevla Reeves, to receive $3,000 upon a successful sale.

The Buyer is not represented by a real estate agent.

The contemplated sale is a short sale.  The amount due under the
secured lien exceeds the purchase price and the value of subject
property.  To allow the sale to take place, the senior lender,
ASFC, has agreed to accept the net proceeds available after payment
of the commissions, closing costs, and unpaid property taxes.  ASFC
will consent to the sale on condition it receive $400,000.  The
holder of the second position deed of trust, REFCO, will release
its security interest without payment.

The sale of the 16424 E. Desert Vista Trail property is a typical
transaction of the Debtor's although unique in the sense it
comprises a lot on which construction was not accomplished.  The
sale, if approved, will allow the pay down of the Debtor's
obligations to ASFC.  There will be no funds available for the
Debtor.

The Debtor therefore asks Court approval of the sale in accordance
with Section 363 (f) and Bankruptcy Rule 6004.  It believes the
offer from the proposed Buyer represents the best price obtainable
for the Subject Property.  It, however, does request the sale be
subject to higher and better offers.

Upon Court approval, 16424 E. Desert Vista Trail will be sold free
and clear of liens, claims, and encumbrances.  The secured lien of
ASFC’s will attach to the net sale proceeds as set forth.  The
balance of the sales price will cover the associated closing
costs.

The Debtor suggests any party desiring to bid provide counsel for
the Debtor with a $2,000 cashier's check, or cash, on the date of
the sale and bid increases in increments of at least $1,000.

A total realtor's commission of $3,000 will be paid.  In addition,
other closing costs estimated in the amount of $4,000 will be paid
plus unpaid property taxes of approximately $1,250.

The Debtor requests a waiver of the 14-day stay pursuant to Rule
6004(h) to allow the order approving the relief requested to take
effect immediately so as to allow the sale to take place on the
date set forth in the Purchase Contract or as close to it as
reasonably possible.

A copy of the Contract is available at https://tinyurl.com/58fsrwm5
from PacerMonitor.com free of charge.

             About Artisan Builders, LLC,

Artisan Builders, LLC, located at 17916 N. 93rd Street, Scottsdale,
Arizona, is a full service general contractor specializing in
custom homes.

Artisan Builders sought Chapter 11 protection (Bankr. D. Ariz. Case
No. 20-07501) on June 24, 2020.

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

The Debtor tapped Richard W. Hundley, Esq., at The Kozub Law Group,
PLC as counsel.

The petition was signed by James Guajardo, manager.

On Oct. 20, 2020, the Court appointed Urban Blue Realty, LLC, and
Nicolas Blue as Broker.



BALLY'S CORP: Fitch Raises IDR to 'B+' & Alters Outlook to Stable
-----------------------------------------------------------------
Fitch Ratings has upgraded the Issuer Default Rating (IDR) of
Bally's Corporation (Bally's) to 'B+' from 'B' and revised the
Rating Outlook to Stable from Positive. Fitch has also upgraded
Bally's senior secured credit facility to 'BB+(EXP)'/'RR1' from
'BB(EXP)'/'RR1'. The rating for Bally's senior unsecured notes
remains 'B-(EXP)' while the Recovery Rating was lowered to 'RR6'
from 'RR5'.

The upgrade reflects Fitch's increased confidence in Bally's
reducing leverage below the agency's previous 5.5x gross adjusted
leverage positive rating sensitivity at the 'B' IDR level. Bally's
continues to see strong operating momentum this summer and has
greater line of sight into further contributions from its
Interactive segment (i.e. social gaming). Combined, these result in
lower gross adjusted leverage at closing than previously
contemplated. The lower recovery ratings for Bally's $1.5 billion
senior unsecured notes due 2029 and 2031 reflect the higher mix of
secured debt at closing than originally planned for the
acquisition.

KEY RATING DRIVERS

Moderate Pro Forma Leverage: Fitch expects Bally's gross adjusted
leverage to decline to 5.2x by 2022 (previously forecasted to be
5.6x) following the primarily debt-funded acquisition of Gamesys,
mostly through EBITDAR growth. Leverage is currently in the high 5x
range when capitalizing the roughly $70 million of lease expense
with GLPI at 8.0x, though the company still owns a majority of its
casinos' real estate. Management has a 4.0x-4.5x net leverage
target, which equates to approximately 5.0x-5.5x gross adjusted
debt per Fitch's calculations. Fitch expects Bally's to reach that
target by YE 2022, though this could be achieved sooner should some
FCF be allocated toward voluntary debt paydown.

Improving Diversification: Bally's operates 16 properties in 14
states (pro forma for Tropicana Las Vegas), an improvement from a
single property in 2013 and four in 2019. The M&A strategy has
diversified cash flows away from the Northeast and has primarily
centered around buying underperforming properties at discounted
valuations. Bally's properties are typically not market leaders and
the company has over $200 million of growth capex planned to
support competitiveness. The addition of Gamesys further adds to
Bally's total size, gaming offering, and geographic presence. Pro
forma for the acquisition, Rhode Island will account for an
estimated 17% of total EBITDAR. Bally's Interactive will also help
diversify the business, offering sports wagering and online gaming
later this year.

Gamesys Acquisition: The addition of Gamesys provides some
geographic and platform diversification to Bally's predominately
U.S. land-based operating profile, as well as strong FCF
generation. Gamesys has a bingo and online casino presence in the
U.K. (about 58% of total Gamesys revenue), while also realizing
growth in the unregulated Japan market. The acquisition provides
the in-house technology tools needed for Bally's U.S. Interactive
strategy. These benefits are balanced against medium-term
regulatory concerns from the U.K.'s Gambling Act Review, whose
eventual outcome could weigh more negatively on online casino
operators relative to betting-focused operators.

An additional concern is the fact that about 30% of Gamesys revenue
is generated in unregulated jurisdictions (mainly Japan). The main
risk surrounding unregulated markets is they may develop more
stringent regulations, which can adversely affect Gamesys' margins
or may force Gamesys out of the market. Synergy benefits from the
two companies combining are limited and primarily related to
providing online capabilities to Bally's U.S. Interactive division.
The combined company will be managed out the U.S., which could
present integration challenges, though Gamesys has grown over the
years through M&A and its headquarters has changed multiple times.

Favorable Regional Gaming Outlook: Bally's legacy land-based
properties are performing well through the pandemic's recovery, in
some cases already surpassing 2019 gaming revenue levels. This
performance is consistent with broader U.S. regional gaming, which
is being supported by pent-up demand, a successful initial
vaccination rollout, and greater reliance on local visitation. As a
whole, Fitch expects U.S. regional gaming demand to be down
mid-single digits in 2021 compared to 2019, but to experience a
full recovery by fourth quarter 2021.

Regional gaming EBITDAR margins remain strong, thanks to more
efficient operating models, primarily lower marketing and amenity
expenses. Fitch expects margins to normalize as broader competition
ramps back up, albeit still above historical margins. For Bally's,
Fitch expects 300bps-400bps increases at most properties due to
permanent changes made during the pandemic.

Uncertainty Around Interactive Strategy: The momentum in U.S.
sports betting and online gaming has led to multiple land-based and
digital operators entering the market, including Bally's. Despite
its benefit to Bally's product diversification, Fitch does not
expect the company's U.S. interactive presence to be a material
credit driver in the near-to-intermediate term. Bally's is
currently developing its mobile platform that will roll out to
multiple states during 2022. The market is extremely competitive,
loss leading, and currently dominated by three large players
(DraftKings, Fanduel and BetMGM). These operators have enjoyed
first mover advantages and/or invested heavily in marketing and
promotions.

Bally's partnership with Sinclair provides some competitive
advantage with regional sports network (RSN) exposure, but Fitch
expects total EBITDA contribution for Bally's from this segment to
exceed $100 million at maturity. There could be upside if Bally's
is able to achieve low double-digit market share or its RSN
strategy proves successful without spending significant investments
in marketing.

Fitch will convert the Expected Ratings to Final Ratings upon
receipt of final debt documentation.

DERIVATION SUMMARY

The 'B+' rating reflects Bally's diversified regional gaming
footprint and its pending acquisition of Gamesys, as well as its
moderate pro forma gross adjusted leverage. The rating also
considers Bally's good discretionary FCF and liquidity position.
The rating is similar to other regional gaming operators with
comparable credit metrics, though Bally's has higher execution risk
(related to Gamesys acquisition) and certain peers have slightly
better land-based portfolios. MGM Resorts (BB-/Rating Watch
Negative) has higher quality properties, better diversification
with a solid presence on the Las Vegas Strip and in Macau SAR,
strong liquidity and a greater normalized FCF profile.

The Gamesys business has smaller scale and weaker diversification
than peers Flutter Entertainment (BBB-/Stable) and Entain plc
(BB/Positive), which are more focused on fixed-odds betting (online
and retail) and poker. Flutter has a strong existing footprint in
the growing U.S. sports betting market given its ownership of
Fanduel. Gamesys potentially has more risk exposure to the U.K.
Gambling Act Review as online casino operators face more headwinds
comparatively than fixed-odds betting operators (potential max
betting limits and/or loss limits). Positively, Gamesys has no
meaningful physical footprint so capex is relatively less and the
company has benefited from the pandemic's impact on customers
adopting more digital platforms.

In accordance with Fitch Ratings' policies, the issuer appealed and
provided additional information to Fitch Ratings that resulted in a
rating action that is different than the original rating committee
outcome.

KEY ASSUMPTIONS

-- Land-based U.S. revenues decline mid-single digits 2021 versus
    2019, though some Bally's properties exhibit weaker
    performance (i.e., Las Vegas and Atlantic City); the majority
    of land-based properties recover fully to 2019 revenue levels
    for FY 2022 and grow low-single digits thereafter;

-- Aggregate land-based EBITDAR margins grow 300bps-400bps over
    historical levels due to achieved cost savings from the
    pandemic;

-- Bally's Interactive business operates at a low-to-mid single
    digit market share, with 2022 primarily the ramp up year.
    Fitch expects the segment to be cash flow neutral in the near
    term, with long-term margins in the 20% range achievable;

-- Gamesys segment grows mid-teens in 2021, driven by growth in
    Asia and the pandemic's lingering benefit to online gaming
    channels in the U.K. Fitch expects some normalization in 2022
    in the U.K. and mid-single digit growth thereafter. For Asia,
    growth continues in the double-digit range but at a
    decelerating rate. Segment EBITDA margins (after allocated
    administrative expense) remains in the mid-20% range.

-- Total FCF margin in the high-single to low-double digit range
    annually. Fitch expects FCF allocation to primarily focus on
    tuck-in M&A and growth capex, though some degree of debt
    paydown is possible as management looks to achieve its net
    leverage target in the medium-term.

RECOVERY ASSUMPTIONS

The recovery analysis assumes that Bally's would be reorganized as
a going concern in a default scenario. Fitch assume Bally's leases
with gaming REITs are not rejected in bankruptcy and Fitch also
assumes the rent is not reset by the landlords. Fitch has assumed a
10% administrative claim and full draw on Bally's approximately
$620 million revolver. The current recovery ratings contemplate
roughly $2.6 billion of secured debt claims and $1.5 billion of
unsecured debt claims.

Fitch utilizes an aggregate going-concern EBITDA of about $460
million, which includes roughly $240 million from the U.S.
land-based business, $210 million from Gamesys, and $15 million
attributable to Bally's U.S. Interactive business. This is a
forward estimate from a default scenario such that cash flows
decline and are insufficient to cover Bally's fixed costs (debt
service, cash taxes, maintenance capex). With a blended EV multiple
of roughly 5.75x, this equates to $2.7 billion of enterprise
value.

The U.S. land-based going-concern EBITDA reflects a moderate
recessionary environment, characterized by 50% flow-through to
EBITDAR less master lease rent. Flow-through was less during the
pandemic; however, the material cost cuts to the business were
idiosyncratic to the pandemic and Bally's (like other regional
gaming operators) benefitted from limited alternative
entertainment.

The Gamesys going-concern EBITDA reflects reduced economics in the
U.K. as a result of medium-term regulatory headwinds and/or the
loss of its Asian business (about 30% of revenues) given its
unregulated nature. This level of EBITDA is roughly 30% below
Fitch's 2022 forecast, which is after the pandemic's boost to
online gaming partially subsides.

Fitch includes a small amount of Bally's Interactive EBITDA which
is Fitch's 2022 estimate discounted by 33% to reflect more
aggressive marketing spend by Bally's. The U.S. sports betting and
iGaming markets have limited operating history given their more
recent legalization. Bally's Interactive will be a wholly-owned
unrestricted subsidiary but Fitch expects the restricted group's
debt documentation to include a specific asset sale carve-out for
the Interactive business such that any asset sale proceeds must be
distributed into the restricted group.

Fitch's recovery analysis for Bally's is based on blended EV
multiples for its three segments that are slightly below historical
market and M&A implied multiples. This is to account for the
difficulty of estimating multiples at the time of default, which
could be several years out for healthier issuers. Fitch assigns a
6.0x multiple to Bally's land-based segment given they primarily
operate in competitive markets, are not market leaders, and have
some degree of fixed costs related to their lease agreements.

This is higher than the 5.5x multiple used for pure gaming OpCos
(higher fixed costs) and lower than peers in more advantageous
markets or that have higher property. The 6.0x multiple is a
discount to traditional gaming assets' M&A and trading multiples of
around 8.0x. As the Interactive business grows and becomes a more
meaningful piece of overall cash flow, this could support a higher
EV multiple. Fitch applies a 5.5x EV multiple to the Gamesys
segment, which is lower than the recovery multiple previously used
for The Stars Group given its geographic exposure outside of the
U.S., regulatory headwinds in the U.K., smaller scale, and risks
associated with operating in grey regulatory markets in Asian.
Bally's is purchasing Gamesys for about 11.0x 2020 EBITDA.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

-- Gross adjusted leverage sustaining below 4.5x;

-- Greater long-term certainty around regulatory environments in
    key non-U.S. jurisdictions;

-- Successful development of Bally's U.S. interactive business
    and profitability or market share exceeding Fitch's
    expectation.

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- Gross adjusted leverage sustaining above 5.5x;

-- Discretionary FCF margins sustained below 10% of revenues;

-- Evidence of integration challenges with company's M&A strategy
    (e.g. Gamesys);

-- Adverse regulatory actions that significantly impact
    profitability, market access, or the company's ability to
    maintain gaming licenses globally.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.

LIQUIDITY AND DEBT STRUCTURE

Pro forma for the transaction, Bally's will have full availability
on its approximately $620 million revolver and $131 million of cash
on hand (though this is predominately minimum operating cash and
not considered excess cash). Fitch expects excess cash to build
during the forecast, primarily due to FCF generation from Gamesys.
Despite meaningful near-term cash needs related to planned growth
capex and closing of pending casino acquisitions, Fitch expects
liquidity to be sufficient. Total FCF margins are expected to be in
the high-single digit range consistently.

Bally's is refinancing both its and Gamesys' existing capital
structures. The debt structure will include a new senior secured
revolver, senior secured term loan B, eight-year unsecured bonds,
and 10-year unsecured bonds. The nearest maturity is not expected
to be until 2028.

ISSUER PROFILE

Bally's is a U.S. regional gaming operator with 16 properties
across 14 states. The company is in the process of acquiring
Gamesys, a digital gaming operator with meaningful operations in
the U.K. and Asia.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.


BEZH SERVICES: Menucha's $655K Sale of Denver Asset to Cadena OK'd
------------------------------------------------------------------
Judge Thomas B. McNamara of the U.S. Bankruptcy Court for the
District of Colorado authorized Debtor Menucha Enterprise LLC, an
affiliate of Bezh Services, LLC, to sell the real property located
at 320 S. Jasmine Street, in Denver, Colorado 80224, pursuant to a
Contract to Buy and Sell Real Estate (Residential), as amended, to
Nathan Cadena for $655,000.

All of the terms in the Contract are reasonable and the closing of
a sale of the Property is approved according to the terms of the
Contract.

Upon payment in full of the purchase price under the Contract, the
Debtor is authorized to execute any documents necessary or
appropriate to effectuate the transfer of the Property to the
Buyer.

Subject to closing of the sale and payment of the purchase price,
in full, as required under the Contract, the sale of the Property
to the Buyer will be free and clear of any and all liens claims,
interests, and encumbrances, with such liens to attach to the net
sale proceeds.  

The Debtor is authorized to execute such documents and to undertake
such other actions as are reasonably necessary or appropriate to
complete the sale of the Property pursuant to the terms of the
Contract.

Notwithstanding anything to the contrary in the Motion and the
notice, Cost Fund 1, LLC is not waiving any deficiency claim that
may arise from the sale of the Property, and is entitled to retain
the same subject to the Debtor retaining any defenses and arguments
that it may have to any such claim.

The Order is self-executing and effective immediately upon entry,
and the stay under Fed.R.Bankr.P. 6004(h) is waived.

                        About Bezh Services

Bezh Services, LLC filed a Chapter 11 bankruptcy petition (Bankr.
D. Colo. Case No. 21-10745) on Feb. 17, 2021.  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. Judge Thomas B.
Mcnamara oversees the case. The Debtor tapped Kutner Brinen, P.C.
as its legal counsel and RubinBrown, LLP as its accountant.



BONNIE TILE: Wins Cash Collateral Access
----------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida,
West Palm Beach Division, has authorized Bonnie Tile II, LLC to use
cash collateral on an interim in accordance with the budget until
further Court order.

The Debtor's authorization to use cash collateral is limited to a
variance not to exceed 10% of any particular line-item expense on
the budget, unless otherwise agreed in writing between the parties
or by Court order. In the event the Debtor finds that the payroll
tax expense is higher than contained in the budget, the Debtor is
authorized to pay the payroll tax expense from the professional
fees expense item.

The post-petition liens granted in connection with the use of
Collateral and Cash Collateral will at all times be subject and
junior to any Court costs and administrative fees and costs awarded
by the Court in the proceeding.

A final hearing on the Debtor's Emergency Motion for Authorization
to Use Cash Collateral is scheduled for September 1 at 1:30 p.m.

A copy of the order is available at https://bit.ly/3lQlz7R from
PacerMonitor.com.

                     About Bonnie Tile II, LLC

Bonnie Tile II, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Case No. 21-16210) on June 25,
2021. In the petition signed by Dennis R. Hughes, managing member,
the Debtor disclosed up to $50,000 in assets and up to $1 million
in liabilities.

Judge Mindy A. Mora oversees the case.

Craig I. Kelley, Esq., at Kelley, Fulton & Kaplan, P.L is the
Debtor's counsel.



BRE/EVERBRIGHT M6: S&P Assigns 'B-' ICR, Outlook Stable
-------------------------------------------------------
S&P Global Ratings assigned its 'B-' issuer-credit rating to
economy hotel owner and franchisor BRE/Everbright M6 Borrower LLC
(doing business as Motel 6).

S&P said, "At the same time, we assigned our 'B-' issue-level
rating and '3' recovery rating to the company's proposed term loan.
The '3' recovery rating indicates our expectation for average
(50%-70%; rounded estimate: 50%) recovery for lenders in a
hypothetical default.

"The stable outlook reflects that, despite its very high
anticipated consolidated leverage in 2021, we believe Motel 6 has
adequate liquidity and expect its consolidated EBITDA coverage of
total interest expense (including CMBS debt service) to be in the
high-1x range in 2021. Additionally, we expect that the company's
improving revenue per available room (RevPAR) will reduce its
leverage to about 9x and improve its EBITDA coverage of interest
expense to the mid-2x range in 2022.

"The 'B-' rating primarily reflects our expectation for very high
leverage in 2021 (potentially improving to about 9x in 2022), Motel
6's smaller scale relative to some of its rated lodging peers, and
the low barriers to entry and elevated price competition in the
economy lodging segment, which are partially offset by its less
volatile operating performance relative to its peers during the
coronavirus pandemic, good brand recognition in the economy
segment, good geographic diversity, and track record of successful
franchisee expansion. We also view the company's ownership by
Blackstone as a risk given the tendency of financial sponsors to
use available leverage capacity to fund acquisitions, investments,
or cash distributions.

"We currently expect that Motel 6 will continue to increase its
RevPAR across its portfolio over the next year, which will enable
it to improve its very high consolidated leverage to about 9x in
2022 from our estimate of the mid-teens area in 2021."

According to the company, its systemwide RevPAR declined by 16% in
2020, which is less significant than the nearly 50% drop in the
overall U.S. lodging industry and the 21% drop in the U.S. economy
segment (based on info from STR). Motel 6's guests in 2020
predominately comprised essential workers, including first
responders and workers in the construction, trucking, and
transportation industries. The concentration of the company's owned
portfolio in resort and destination markets, such as Anaheim and
Palm Springs, Calif and Orlando, Fla., caused its performance to
lag that of its broader franchisee base, which is focused primarily
in drive-to markets. S&P said, "We assume that the performance of
Motel 6's owned hotels will continue to recover this year and
forecast its systemwide RevPAR will be about 10% below 2019 levels
in 2021 before improving to 2019 levels in 2022. We also assume
that the company's EBITDA margin will continue to recover through
2021, but remain below pro forma 2019 levels, before returning to
near pro forma 2019 levels in 2022. These assumptions support our
expectation that Motel 6's consolidated leverage will improve to
about 9x in 2022 from the mid-teens area in 2021."

S&P said, "Our measure of the company's leverage consolidates the
PropCo's CMBS debt and EBITDA because Blackstone's full ownership
of both the OpCo and Propco give it the ability to exercise
significant influence over these entities. The borrower of both the
term loan and CMBS debt will be the same entity and it will use the
combined cash flows of the OpCo and PropCo to pay the facilities'
debt service. Additionally, our consolidated view reflects the risk
that Blackstone may choose to use the OpCo's cash flows to support
the PropCo given their common governance and control. However, this
risk is somewhat mitigated by the $19 million 12-month CMBS
interest reserve, which would provide liquidity support for the
CMBS lenders in the event of an interest shortfall. Despite the
near-term risk of the OpCo's cash flows being used to support the
PropCo, we believe the availability of the PropCo's cash flow to
the OpCo's lenders under normal economic conditions would represent
a potential liquidity support as long as these financing structures
remain in place and the CMBS triggers that trap the company's cash
are not activated."

Since Blackstone acquired Motel 6 in 2012, it has sold a
significant portion of the operator's owned hotels and
substantially increased the number of franchised rooms in its
system.

Specifically, under Blackstone's ownership the company has sold 435
of its owned hotels. At the same time, the number of franchised
hotels in its system has increased to 1,271 as of May 2021 from 561
in 2012. The shift in its portfolio toward more franchised rooms
and fewer owned rooms has improved its consolidated EBITDA margin
and could partially reduce its exposure to the high earnings
volatility associated with hotel ownership, although it still
generates the majority of its consolidated EBITDA from its owned
hotels. S&P said, "We generally view franchisors as less volatile
than owners because the franchisor does not incur the relatively
fixed operating costs of the hotels. Additionally, Motel 6's
franchise agreements typically stipulate that existing and
prospective franchisees are responsible for covering the operating
costs and capital investments of the hotels in its system. Through
2022, we assume the company sells its assets at a slower pace, if
at all, and do not incorporate any such sales in our base case.
This reflects our belief that Motel 6 plans to retain its current
level of owned assets due to the credibility it confers with its
franchisees and because it benefits from the ability to test new
strategies at its owned hotels before rolling them out to its
franchisee base."

S&P's rating also reflects Motel 6's smaller scale relative to some
rated peers, lack of a loyalty program, and the low barriers to
entry in the economy segment, which are partially offset by its
less volatile performance, good brand recognition in the economy
segment, significant geographic diversity, and track record of
successful franchise growth.

With about $112 million of pro forma 2019 consolidated EBITDA, the
company is smaller than many of its rated lodging peers.
Additionally, the 117,400 rooms in its system compare unfavorably
with the portfolios of larger franchisors like Choice and Wyndham.
The portfolios of these larger peers are also diversified across
more brands that target multiple price points. Additionally, Motel
6 lacks a guest loyalty program and we believe that a strong
loyalty program typically enhances the value of a system's brands
because it encourages customers to stay inside the network and
drives direct bookings, which feature higher margins than bookings
through other channels such as online travel agencies (OTAs).
However, S&P understands that Motel 6 has intentionally forgone a
loyalty program because it does not believe that the value
proposition would be attractive enough to its predominately
price-sensitive guests to justify the incremental costs to its
hotel owner franchisees.

Over the past several years, Motel 6's strategy has involved
removing unnecessary items from rooms that do not materially affect
its guests' experience, such as art and drapes, to reduce costs for
its hotel owners. This strategy appears to have resonated with
consumers because it supported a 6.5% compound annual increase in
the company's RevPAR from its owned assets in 2012-2019.
Additionally, Motel 6 has stated that it expanded its franchise
system by about 10% annually since 2012, both through conversions
and new developments, which demonstrates its perceived value
proposition to its franchisees. Even as the company has sold
properties from its owned portfolio, many of the buyers choose to
remain in the Motel 6 system because they believe in its value
proposition. However, the company's successful but heavy reliance
on pricing as its principal competitive advantage has caused it to
face significant competition from other low-price competitors given
the relatively low barriers to entry in the economy segment
compared with the protections afforded to brands that differentiate
their offerings by amenities and service levels.

Still, Motel 6's brand is widely recognized and it is a leading
provider in the economy lodging segment. S&P said, "Furthermore,
the company soon plans to roll out the next generation of
renovations, which will further streamline its room design to
remove unneeded cost and focus on guest essentials (bed, TV,
shower), which we believe could improve its ability to attract
price-sensitive guests and generate new franchise agreements. Motel
6's total portfolio of hotels is well diversified across the U.S.
and Canada, although its owned properties are concentrated in
resort and destination markets, which--under normal
conditions--typically exhibit higher RevPAR than its franchise
portfolio. Our rating also incorporates our expectation that the
company's operating performance will be less volatile over the
cycle than the performance of the broader lodging industry." This
incorporates the strong improvement in its RevPAR from 2012-2019
and the relatively modest decline in its RevPAR in 2020. Motel 6's
brand recognition, price segment, and customer demographics could
also support a reduced level of volatility in its operating
performance.

S&P said, "The stable outlook reflects that, despite its very high
anticipated consolidated leverage in 2021, we believe Motel 6 has
adequate liquidity and expect its consolidated EBITDA coverage of
total interest expense (including CMBS debt service) to be in the
high-1x range in 2021. Additionally, we expect that the company's
improving RevPAR will reduce its leverage to about 9x and improve
its EBITDA coverage of interest expense to the mid-2x range in
2022.

"We could lower our ratings on Motel 6 if it unexpectedly
underperforms our operating assumptions such that it no longer has
adequate liquidity or can no longer generate sufficient cash flows
to maintain its capital structure.

"While unlikely in the near term given our leverage forecast
through 2022, we could raise our ratings on Motel 6 if it sustains
S&P Global Ratings-adjusted debt to EBITDA of less than 7x while
maintaining EBITDA coverage of interest expense of at least 2x."



BUY MOORE: Unsecured Creditors to Recover 90% in 60 Months
----------------------------------------------------------
Buy Moore, LLC filed with the U.S. Bankruptcy Court for the Western
District of Michigan a Small Business Plan of Reorganization under
Subchapter V dated August 9, 2021.

In order to effectuate a successful reorganization, Debtor will
assume its lease of nonresidential real property at 25 N. Squires
St., Rockford, MI 49341.

Debtor's assets consist entirely of personal property. Debtor's
personal property was subject to an avoidable possessory judgment
lien held by secured creditor Country Towne on the date of filing.
Because the sale had not taken place, the court officer released
the property to Debtor, and Country Towne's claim is unsecured.

Debtor believes that there are no creditors with secured claims
over its personal property.

Class 2 consists of General Unsecured, Non-Priority Claims:

     * Consensual Plan Treatment - General Unsecured Creditors
shall be paid in full over a 5 year period. The amount of each
allowed general unsecured claim shall be divided by 60, and each
claimant shall receive that amount as its payment each month. No
claimant shall receive any interest on its claim. General Unsecured
Creditors are believed to include Country Towne and DTE Energy.

     * Non-Consensual Plan Treatment – General Unsecured
Creditors shall be paid their pro-rata share of the greater of the
liquidation value of the estate or $1,000.00, to be paid over 5
years, with all administrative expenses of the estate and priority
unsecured creditors being paid in full in advance of the first
payment to any General Unsecured Creditor.

Under the Non-Consensual Plan, Debtor's projected monthly net
profit is $902.18. However, when one accounts for payments made for
priority claims and administrative expenses, the amount of Debtor's
Projected Monthly Disposable Income available for unsecured
creditors is reduced to $0.00. That is, under a Non Consensual
Plan, Debtor would adjust its operations to enable itself to pay
$50.00 per month, for 36 months, to unsecured creditors. This
payment results in an estimated pro rata distribution to unsecured
creditors of approximately 7.7%.

Conversely, Debtor's Consensual Plan proposes more favorable
treatment whereby Debtor will make payments to unsecured creditors
over a period of 60 months, ultimately resulting in unsecured
creditors receiving a guaranteed 90% distribution on its allowed
claim, provided that Debtor's belief about the correct amount of
the State of Michigan Sales, Use and Withholding tax claim is
correct.

If Debtor is unable to gain a consensual Plan, Debtor anticipates
that it will incur significant additional administrative fees for
professional services going forward. Specifically, in a
nonconsensual Plan, Debtor projects that it will incur fees related
to ongoing attorney fees, accounting fees related to the required
monthly income reports, and the Subchapter V's distribution
efforts.

Pursuant to 11 U.S.C. § 1191, a Chapter 11 plan may be either
Consensual or Non Consensual. However, the term "consensual" is not
defined for purposes of Subchapter V. One of the primary pillars of
Subchapter V is to streamline reorganizations for small business
debtors. Therefore, Debtor proposes a twostep process for
determination of whether the Plan is "consensual." Debtor will
initially provide the Plan to creditors on notice and opportunity.
Should no party object to the contents of the Plan within 21 days
after service of the notice and opportunity, Debtor's Plan will be
considered confirmed as a Consensual Plan.

Payments required under the Plan will be made from Debtor's budget
and net profit.

A full-text copy of Subchapter V Plan dated August 9, 2021, is
available at https://bit.ly/3xCK5vr from PacerMonitor.com at no
charge.

Attorney for Debtor:

     James R. Oppenhuizen, Esq.
     Oppenhuizen Law Firm, PLC
     25 Division Ave. S, Suite 525
     Grand Rapids, MI 49503
     Telephone: (616) 730-1861
     Email: joppenhuizen@oppenhuizenlaw.com

                          About Buy Moore

Buy Moore, LLC is a company that buys and sells toys and comics in
Rockford, Mich. It conducts business under the name Buy Moore Toys
& Comics.

Buy Moore filed a petition under Subchapter V of Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Mich. Case No. 21-01230) on May 10,
2021. Jeff Moore, member, signed the petition. At the time of the
filing, the Debtor listed up to $50,000 in both assets and
liabilities. Judge Scott W. Dales oversees the case. Oppenhuizen
Law Firm, PLC serves as the Debtor's legal counsel.


CALLON PETROLEUM: Moody's Alters Outlook on B3 CFR to Positive
--------------------------------------------------------------
Moody's Investors Service changed Callon Petroleum Company's rating
outlook to positive from stable and affirmed its existing ratings,
including the B3 Corporate Family Rating, the B3-PD Probability of
Default Rating and the Caa2 ratings on its senior unsecured notes.
The Speculative Grade Liquidity rating remains SGL-3. The rating
actions follow Callon's announcement it has an agreement to acquire
Primexx Energy Partners and it entered into an agreement to
exchange $197 million of second lien debt for Callon common
equity.

"Callon's scale in the Delaware Basin, production volumes and cash
flow will benefit from the Primexx acquisition," commented James
Wilkins, Moody's Vice President. "The substantial equity component
of the acquisition financing and exchange of second lien debt to
equity are a positive for Callon leverage and credit metrics."

Affirmations:

Issuer: Callon Petroleum Company

Probability of Default Rating, Affirmed B3-PD

Corporate Family Rating, Affirmed B3

Senior Unsecured Notes, Affirmed Caa2 (LGD5)

Outlook Actions:

Issuer: Callon Petroleum Company

Outlook, Changed To Positive From Stable

RATINGS RATIONALE

The change to a positive outlook reflects the anticipated reduction
in leverage (using free cash flow and potential asset sales
proceeds), improved credit metrics following the Primexx
acquisition and exchange of second lien debt to equity. The
acquisition will add to Callon's scale and inventory in the
Delaware basin, provide attractive returns, and increase free cash
flow in the current commodity price environment that can be applied
towards debt reduction. The acquisition will reverse the
year-over-year decline in production volumes due to a reduced 2020
capital program that resulted in sequential quarterly production
volume declines in 2020 and the first quarter 2021. The company
expects to realize synergies from operating the added acreage.
Callon announced it has agreed to purchase Primexx Energy Partners
for a total consideration of $788 million consisting of $440
million of cash and 9.19 million common Callon shares provided to
the seller. The $440 million of cash (~56% of the purchase price)
will initially be financed with borrowings under Callon's revolver
credit facility. The exchange of second lien debt to equity will
reduce debt by $197 million (~7% of balance sheet debt as of June
30, 2021), improving Callon's leverage.

The B3 CFR reflects Callon's meaningful leverage, high capital
requirements to develop its acreage and volatile cash flow. The
Permian Basin acreage is in the early stages of development and
will require significant capital to develop, while the Eagle Ford
assets, which are also predominately oil producing assets, are more
mature assets. Its credit metrics have improved in 2021 as oil &
gas commodity prices and demand have rebounded, and will benefit
from cash flow generated by the acquired Delaware assets. Its
retained cash flow to debt (21% as of June 30, 2021) has shown
improvement, but remains below levels generated in 2017-2018.
Callon managed through the difficult market environment in 2020 and
has sold modest assets that have aided its debt reduction efforts,
but the company continues to have high leverage. Callon will
generate positive free cash flow in 2021 and may sell additional
assets, which could be applied towards debt reduction. Callon CFR
is supported by its scale, which has benefited from acquisitions
and a track record of organically growing production and reserves,
diversified operations focused on two shale plays in the Permian
Basin and the Eagle Ford Basin, competitive unit costs, strong
operating margins, and a high proportion of oil in its production
volumes.

Callon's SGL-3 rating reflects its adequate liquidity, supported by
cash flow from operations as well as its revolving credit facility.
The revolver had a $1.6 billion borrowing base (affirmed as part of
the spring 2021 borrowing base redetermination), $24 million of
letters of credit and $779 million of borrowings as of June 30,
2021 (pro forma for the July notes issuance and partial repayment
of revolver borrowings), leaving $797 million available on the
revolver. The Primexx acquisition will result in an additional $440
million of borrowings under the revolver, resulting in the revolver
being approximately three-quarters drawn as of June 30, 2021, pro
forma for the July notes issuance and pending Primexx acquisition.
The revolver and second lien notes have two financial covenants - a
minimum current ratio of 1x and a maximum secured leverage ratio of
3x - with which Moody's expects the company to remain in compliance
through 2022. In 2022, the company will cease being subject to the
secured leverage ratio and will be subject to a maximum leverage
ratio of 4.0x. The revolver matures December 20, 2024, subject to
springing maturity dates if a certain amount of the notes due 2024
are outstanding. Callon's next maturity of notes will be in 2024.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

The ratings could be upgraded if Callon maintains RCF to debt above
25%, debt to average daily production below $25,000, and a
leveraged full cycle ratio greater than 1.25x. The ratings could be
downgraded if liquidity weakens, RCF to debt falls below 10% or
capital efficiency weakens significantly.

The principal methodology used in these ratings was Independent
Exploration and Production published in August 2021.

Callon Petroleum Company, headquartered in Houston, TX is an
independent exploration and production company with operations in
the Permian Basin and the Eagle Ford Shale in Texas.


CAMARINO ASSOCIATES: Taps Narissa A. Joseph as Bankruptcy Counsel
-----------------------------------------------------------------
Camarino Associates, Inc. seeks approval from the U.S. Bankruptcy
Court for the Eastern District of New York to hire the Law office
of Narissa A. Joseph to serve as legal counsel in its Chapter 11
case.

The firm's services include:

     (a) consulting with the Debtor concerning the administration
of the case;

     (b) investigating the Debtor's past transactions, commencing
actions with respect to the Debtor's avoiding powers under the
Bankruptcy Code; and advising the Debtor with respect to
transactions entered into during the pendency of its case;

     (c) assisting the Debtor in the formation of a Chapter 11
plan; and

     (d) performing other necessary legal services.

The firm's hourly rates are as follows:

     Narissa A. Joseph, Esq.        $350 - $400 per hour
     Associate                      $275 - $300 per hour
     Clerks and Paraprofessionals   $75 - $100 per hour

Narissa Joseph, Esq., the firm's attorney who will be providing the
services, disclosed in a court filing that she is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     Narissa A. Joseph, Esq.
     Law office of Narissa A. Joseph
     305 Broadway Suite 1001
     New York, NY 10007
     Tel.: (212) 233-3060

                     About Camarino Associates

Camarino Associates, Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. N.Y. Case No. 21-41638) on June 23,
2021.  In the petition signed by Robert Marino, president, the
Debtor disclosed as much as $50,000 in assets and as much as
$100,000 in liabilities.  Judge Elizabeth S. Stong oversees the
case.  The Debtor tapped the Law Office of Narissa A. Joseph as
legal counsel.


CARDINAL HEALTH: Egan-Jones Hikes Senior Unsecured Ratings to BB+
-----------------------------------------------------------------
Egan-Jones Ratings Company, on July 26, 2021, upgraded the foreign
currency and local currency senior unsecured ratings on debt issued
by Cardinal Health, Inc. to BB+ from BBB-.

Headquartered in Dublin, Ohio, Cardinal Health, Inc. provides
complementary products and services to healthcare providers and
manufacturers.



CASTLEROCK DEVELOPMENT: Taps Rountree Leitman & Klein as Counsel
----------------------------------------------------------------
Castlerock Development Services, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of Georgia to hire
Rountree Leitman & Klein, LLC to serve as legal counsel in its
Chapter 11 case.

The firm's services include:

     (a) giving the Debtor legal advice with respect to its powers
and duties in the management of its property;

     (b) preparing legal papers;

     (c) assisting in the formulation, preparation and consummation
of the Debtor's plan of reorganization and disclosure statement;
and

     (d) performing all other necessary legal services.

The firm's hourly rates are as follows:

     William A. Rountree   $495 per hour
     Benjamin R. Keck      $425 per hour
     David S. Klein        $425 per hour
     Hal Leitman           $425 per hour
     Alexanda Dishun       $425 per hour
     Barret Broussard      $395 per hour
     Alice Blanco          $350 per hour
     Elizabeth Childers    $350 per hour
     Taner Thurman         $275 per hour
     Law Clerks            $175 per hour
     Paralegals            $150 - $195 per hour

The Debtor paid $38,738 to the law firm as a retainer fee.

Benjamin Keck, Esq., a partner at Rountree Leitman & Klein,
disclosed in a court filing that his firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     William A. Rountree, Esq.
     Benjamin R. Keck, Esq.
     Taner N. Thurman, Esq.
     Rountree Leitman & Klein, LLC
     Century Plaza I, 2987 Clairmont Road, Suite 350
     Atlanta, GA 30329
     Tel.: (404) 584-1238
     Email: wrountree@rlklawfirm.com
            bkeck@rlklawfirm.com
            tthurman@rlklawfirm.com

               About Castlerock Development Services

Cumming, Ga.-based Castlerock Development Services, LLC sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D.
Calif. Case No. 21-20848) on Aug. 5, 2021.  In the petition signed
by Jody Lewis, president and managing member, the Debtor disclosed
$1 million to $10 million in both assets and liabilities.  The
Debtor tapped William A. Rountree, Esq., at Rountree, Leitman, &
Klein, LLC as legal counsel.


CBL & ASSOCIATES: Egan-Jones Withdraws D FC Sr. Unsecured Rating
----------------------------------------------------------------
Egan-Jones Ratings Company, on July 29, 2021, withdrew its 'D'
foreign currency senior unsecured rating on debt issued by CBL &
Associates Properties, Inc. EJR also withdrew its 'D' rating on
commercial paper issued by the Company.

Headquartered in Chattanooga, Tennessee, CBL & Associates
Properties, Inc. is a self managed and self-administered real
estate investment trust.



CENTER CITY HEALTHCARE: Taps Cross & Simon as Conflicts Counsel
---------------------------------------------------------------
Center City Healthcare, LLC and its affiliates seek approval from
the U.S. Bankruptcy Court for the District of Delaware to hire
Cross & Simon, LLC as special conflicts counsel.

Cross & Simon will represent the Debtors in matters involving
Airgas Inc., a medical oxygen supplier, and any other matter in
which the Debtors' bankruptcy counsel, Saul Ewing Arnstein & Lehr
LLP, and special counsel, Klehr Harrison Harvey & Branzburg LLP,
have conflicts of interest.  

Neither Saul Ewing nor Klehr Harrison can be adverse to Airgas,
which necessitates the employment of Cross & Simon to handle
matters, including the litigation of claims or actions involving
the medical oxygen supplier.

The hourly rates charged by Cross & Simon attorneys and paralegals
are as follows:

     Christopher P. Simon, Esq.      $775 per hour
     Kevin S. Mann, Esq.             $695 per hour
     Stephanie MacDonald             $200 per hour
     Associates                      $230 - $475 per hour
     Paralegals                      $150 - $255 per hour

Christopher Simon, Esq., a partner at Cross & Simon, disclosed in a
court filing that he is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

The firm holds office at:

     Christopher P. Simon, Esq.
     Cross & Simon LLC
     1105 North Market Street, Suite 901
     Wilmington, DE 19801
     Tel.: (302) 777-4200
     Fax: (302) 777-4224
     Email: csimon@crosslaw.com

                    About Center City Healthcare

Center City Healthcare, LLC, is a Delaware limited liability
company that operates Hahnemann University Hospital.  Its parent
company is Philadelphia Academic Health System, LLC, which is also
the parent company of St. Christopher's Healthcare, LLC and its
affiliated physician groups.

Center City Healthcare and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No.
19-11466) on June 30, 2019. At the time of the filing, the Debtors
estimated assets of between $100 million and $500 million and
liabilities of the same range.

The cases are assigned to Judge Kevin Gross.

The Debtors tapped Saul Ewing Arnstein & Lehr LLP as bankruptcy
counsel; EisnerAmper LLP as restructuring advisor; SSG Advisors,
LLC as investment banker; and Cross & Simon, LLC and Klehr Harrison
Harvey & Branzburg, LLP as special conflicts counsel.  Omni
Management Group, Inc. is the claims and noticing agent and
administrative agent.

The U.S. Trustee for Region 3 appointed an official committee of
unsecured creditors in the Debtors' Chapter 11 cases on July 15,
2019.  Fox Rothschild, LLP and Sills Cummis & Gross, P.C. serve as
the committee's legal counsel while Berkeley Research Group, LLC
serves as financial advisor.


CIBT GLOBAL: Moody's Appends 'LD' Designation to PDR
----------------------------------------------------
Moody's Investors Service appended a limited default designation to
CIBT Global, Inc.'s probability of default rating, changing it to
Caa2-PD/LD from Caa2-PD. The "/LD" designation will be removed in
three days.

RATINGS RATIONALE

The appending of the PDR with an "/LD" designation indicates that a
limited default has occurred due to CIBT's recent amendment to its
first and second lien credit facilities. As a result of the
amendment CIBT received relief from obligations under the credit
agreements and this includes deferred amortization and
payment-in-kind for a portion of interest costs for the company's
first lien term loan, plus waiving all interest cost for the second
lien term loan until certain thresholds are met. These are in
addition to other agreements. Moody's considers these missed
interest payments as a default under Moody's definitions. CIBT's
ratings, including its Caa2 Corporate Family Rating (CFR) and
negative outlook, are unchanged.

CIBT's Caa2 CFR reflects its very high leverage as of June 2021,
tight liquidity available to service debt, limited scale and
acquisitive growth strategy in the highly competitive and
fragmented market for travel and immigration services. The rating
is constrained by the risks related to CIBT's exposure to the
cyclicality of the global business travel market which is
susceptible to economic downturns, disease outbreak and
geopolitical disruptions. Uncertainty regarding the recovery of
travel and visa and immigration related services remains high
currently given the state of the global pandemic.

Nonetheless, CIBT's ratings are supported by its solid market
position and demonstrated expertise in managing complex document
application and procurement processes for international travel.
This has enabled the company to maintain longstanding customer
relationships with high retention rates. CIBT's modest capital
needs and high variable cost structure provide the ability to
adjust operations to changes in client spending levels. In
addition, the company has been focusing on its immigration segment
and businesses such as visa renewals, which are less dependent on
the level of global travel.

Headquartered in McLean, Virginia, CIBT is a leading provider of
third-party travel visa, passport, and immigration logistics
services for corporate clients worldwide. The company was acquired
by Kohlberg & Company in June 2017.


CITY WIDE COMMUNITY: Seeks to Hire Hilco as Real Estate Broker
--------------------------------------------------------------
City-Wide Community Development Corp. seeks approval from the U.S.
Bankruptcy Court for the Northern District of Texas to hire
Northbrook, Ill.-based real estate broker, Hilco Real Estate, LLC,
to market for sale its real property.

The firm will receive a fee equal to 1 percent of the gross sale
proceeds and an additional 3 percent of the incremental increase in
the gross sale proceeds paid in excess of the floor price.

Hilco is a disinterested person within the meaning of Section
101(14) of the Bankruptcy Code as disclosed in court filings.

The firm holds office at:

     Sarah Baker
     Hilco Real Estate, LLC
     5 Revere Drive, Suite 320
     Northbrook, IL 60062
     Tel: (847) 418-2703
     Fax: (847) 897-0826

            About City-Wide Community Development Corp.

City-Wide Community Development Corp. and its affiliates are
primarily engaged in renting and leasing real estate properties.

City-Wide Community Development Corp. and affiliates Lancaster
Urban Village Residential, LLC and Lancaster Urban Village
Commercial, LLC, sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 21-30847) on April
30, 2021.  In the petitions signed by Sherman Roberts, president
and chief executive officer, City-Wide Community Development
disclosed $10 million to $50 million in both assets and
liabilities.  

Judge Michelle V. Larson oversees the cases.

The Debtors tapped Wiley Law Group, PLLC, as legal counsel, Neal A.
Walker, CPA, P.C. as accountant, and Capstone Real Estate Services,
Inc. as property manager.

Texas Mezzanine Fund, Inc., as lender, is represented by:

     Peter C. Lewis, Esq.
     Scheef & Stone, LLP
     500 N. Akard Street, Suite 2700
     Dallas, TX 75201
     Tel: (214) 706-4200
     Fax: (214) 706-4242
     Email: peter.lewis@solidcounsel.com

Catalyst Urban Lancaster Development, LLC, as lender, is
represented by:

     Stephen J. Humeniuk, Esq.
     Locke Lord LLP
     600 Congress Ave., Ste. 2200
     Austin, TX 78701
     Tel: (512) 305-4700
     Fax: (512) 305-4800
     Email: Stephen.humeniuk@lockelord.com


CITY WIDE COMMUNITY: Sets Bid Procedures for All Lancaster Assets
-----------------------------------------------------------------
City-Wide Community Development Corp. and its affiliates filed with
the U.S. Bankruptcy Court for the Northern District of Texas a
notice of proposed bidding procedures in connection with the sale
of substantially all of their assets to the extent constituting
Lancaster Urban Village.

After analyzing the ramifications of filing the Chapter 11 Cases,
and alternatives thereto, the Debtors believe the Chapter 11 Cases
will afford them the best means of preserving the value of the Sale
Assets, while securing a purchaser that will stabilize the Sale
Assets.  The Chapter 11 Cases stand to protect the claims and
interests of the Debtors' tenants, creditors, the community, and
other parties in interest.

The Debtors believe that any significant delay in embarking upon a
sale process is likely to have a material adverse effect on the
value of the Sale Assets.  

By the Motion, Debtors seek entry of the Bid Procedures Order:

      a. authorizing and approving bidding procedures for
competitive bidding in connection with the Proposed Sale;

      b. approving the form and manner of the Sale Notice, the
Auction, if necessary, the Sale Hearing, and related matters;

      c. approving the form and manner of the Residential Tenant
Notice;

      d. approving the following deadlines:

            1. Sale Notice Service: Authorizing the Debtors to
serve the Sale Notice within three business days after entry of the
Bid
Procedures Order;

            2. Sale Objection Deadline: Sept. 20, 2021;  

            3. Bid Deadline: Sept. 22, 2021;

            4. Auction: Sept. 29, 2021, as the date the auction for
the sale of the Sale Assets, if one is needed, which will be held
virtually and/or at the offices Wiley Law Group, PLLC, 325 N. St.
Paul, Ste. 2250, Dallas, Texas;

            5. Notice of Auction Results: Sept. 30, 2021, as the
deadline for the Debtors to announce the results of the Auction,
including identification of the Successful Bidder;  

            6. Objection to Auction Results: Establishing the
commencement of the Sale Hearing as the deadline to object to
results
of the Auction; and

            7. Sale Hearing: Oct. 4, 2021 at 9:30 a.m. (CT)

By the Motion, the Debtors also seeks entry of the Sale Order at
the conclusion of the Sale Hearing authorizing and approving the
Proposed Sale to the successful bidder arising from the Auction, if
any.

The Debtors are entertaining bids for the Proposed Sale of the
"Sale Assets," which constitutes substantially all of their assets
to the extent constituting Lancaster Urban Village, which include
only: (i) the real estate owned or leased by CWCDC, LUVR, and LUVC
set forth in the legal descriptions in Exhibit 1, (ii) all personal
property located at or relating to the Real Estate, (iii) all
contracts and leases relating to the Real Estate and/or the
Personal Property and/or the operation or management thereof, (iv)
the membership interests in LUVR and LUVC owned by CWCDC, and (iv)
all claims and causes of action relating to the Real Estate, the
Personal Property, the LUV Contracts or the Membership Interests,
but excluding (a) any claims or causes of action arising under
Sections 544, 548, 549, or 550 of the Bankruptcy Code, and (b) any
claims and causes of action against the Debtors' current or former
officers, directors, managers, members, or other fiduciaries for
any breaches of fiduciary duty owed to any of the Debtors.

The proposed Bidding Procedures provide, in summary fashion, as
follows:

     a. Bid Deadline: Sept. 22, 2021

     b. Auction: If the Debtors receive more than one Qualified Bid
(including bids that are not Qualified Bids which the Debtors,
after consultation with the Consultation Parties, have determined
to consider), an Auction will be conducted, upon notice to all
Qualified Bidders who have submitted Qualified Bids, commencing at
10:00 a.m. (CT) on Sept. 29, 2021, virtually and/or at the offices
of the Debtors' counsel, Kevin S. Wiley, Sr., The Wiley Law Group,
PLLC, 325 N. St. Paul Street, Suite 2750, Dallas, TX 75201, in
accordance with the terms of the Bidding Procedures.

     c. Any Proposed Sale(s) entered into with the Debtors will be
on an "as is, where is" basis and without representations or
warranties of any kind, nature, or description by the Debtors,
Hilco Real Estate, LL, their respective agents, or estates, except
as may be set forth in a purchase agreement(s) with a Successful
Bidder(s).

     d. Any Proposed Sale entered into with the Debtors, except
with respect to any portion of a Proposed Sale relating to a Loan
Assumption, will be free and clear of all Claims and Interests,
with such Claims and Interests attaching to the net proceeds of the
sale.

     e. Any creditor that has a Security Interest in the Sale
Assets may make one or more credit bids for all or any portion of
the secured claim(s) held by such Secured Creditor at the Auction,
subject to the requirements of section 363(k) of the Bankruptcy
Code.

within three business days of entry of the Bid Procedures Order,
the Debtors will cause the Sale Notice, together with a copy of the
Motion and the Bid Procedures Order, to be served on the Notice
Parties.  Additionally, within three business days after entry of
the Bid Procedures Order, the Debtors will serve all Residential
Tenants with the Residential Tenant Notice, providing notice of the
Auction and Sale Hearing and objection deadlines and procedures in
a form that will be clearer to such Residential Tenants.

The Debtors may seek to assume and assign to the Successful Bidder
certain executory contracts and unexpired leases to be designated
by the Successful Bidder.  By Aug. 20, 2021, they propose to file
with the Court an initial schedule of executory contracts and
unexpired non-residential leases that may be assumed and assigned
as part of the Proposed Sale.  Concurrently therewith, the Debtors
will serve a cure notice upon each counterparty to the Potential
Assumed Contracts.  

Prior to the commencement of the Sale Hearing, the Debtors will
file with the Court a final schedule of executory contracts and
unexpired leases elected to be assumed by the Successful Bidder.
The Counterparty to any such addition or removal will be notified
by written notice via first class U.S. mail by no later than two
business days from such determination.

Finally, the Debtors request that the Sale Order be effective
immediately upon its entry by providing that the 14-day stays under
Bankruptcy Rules 6004(h) and 6006(d) are waived.

The Motion is scheduled for an initial hearing on Aug. 12, 2021, at
9:30 a.m. (CT) before the Judge Michelle V. Larson.  The Court will
conduct a hybrid electronic hearing.  Parties have the option to
participate at a live hearing at that time before Judge Larson,
Courtroom #2, 1100 Commerce Street, Dallas, Texas 75242.  Parties
wishing to participate by telephone may dial-in at: 1-650-479-3207
and utilize access code 160-135-6015.  

Parties wishing to participate by WebEx may do utilizing the
following link: https://us_courts.webex.com/meet/larson.  Parties
participating electronically must follow the instructions set forth
on Judge Larson’s web-page located at:
https://www.txnb.uscourts.gov/sites/txnb/files/hearings/WebEx%20Hearing%20Instructions%20

for%20Judge%20Larson_3.pdf.  Any party that objects to the relief
sought in the Motion must file a Notice of Objection no later than
two business days before the Hearing.

            About City-Wide Community Development Corp.

City-Wide Community Development Corp. and its affiliates are
primarily engaged in renting and leasing real estate properties.

City-Wide Community Development Corp. and affiliates Lancaster
Urban Village Residential, LLC and Lancaster Urban Village
Commercial, LLC, sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 21-30847) on April
30, 2021.  In the petitions signed by Sherman Roberts, president
and chief executive officer, the Debtors disclosed $12,026,657 in
assets and $10,332,946 in liabilities.  

Judge Michelle V. Larson oversees the cases.

The Debtors tapped Wiley Law Group, PLLC, as legal counsel, Neal
A.
Walker, CPA, P.C. as accountant, and Capstone Real Estate
Services,
Inc. as property manager.



CMC II: Bid Procedures Hearing on Assets Sale Moved to Aug. 24
--------------------------------------------------------------
CMC II, LLC, filed with the U.S. Bankruptcy Court for the District
of Delaware a notice of adjourned Sale Hearing scheduled for Aug.
11, 2021, at 3:00 p.m. (ET), on proposed bidding procedures in
connection with the sale, of the following:

       (i) substantially all of the assets of the skilled nursing
facilities ("SNF Assets") operated by Debtors 207 Marshall Drive
Operations LLC, and 803 Oak Street Operations LLC ("Operator
Debtors") to Assisted 4 Living, Inc. for the aggregate
consideration consisting of the following: (i) a credit bid of $3
million of obligations owed by the Company arising under the DIP
Documents; and (ii) assumption of the Assumed Liabilities,
including the payment of cure costs associated with the Assumed
Contracts; and

       (ii) substantially all assets of Debtor CMC II, along with
certain potential claims and causes of action of the Debtors
("Manager and Remaining Assets") to CPSTN Operations, LLC for a
credit bid of $3 million of the outstanding balance of the DIP
Loan.

The Sale Hearing has been rescheduled to Aug. 24, 2021, at 2:00
p.m. (ET), before the Honorable John T. Dorsey.  The Sale Hearing
may be adjourned from time to time without further notice to
creditors or parties in interest other than by announcement of the
adjournment in open court on the date scheduled for the Sale
Hearing or on the Court's docket.

                    About CMC II, et al.

CMC II, LLC, 207 Marshall Drive Operations LLC, 803 Oak Street
Operations LLC and three inactive affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 21-10461) on March 1,
2021.

CMC II, LLC, et al., are part of a group of Consulate Health care
corporate affiliates that manage and operate 140 skilled nursing
facilities.  CMC II provides management and support services to
approximately 140 SNFs, each of which is operated by an affiliate
of the Debtors under the common ownership of non-Debtor LaVie Care
Centers, LLC, doing business as Consulate Health Care.  207
Marshall Drive Operations LLC operates Marshall Health and
Rehabilitation Center, a 120-bed SNF located in Perry, Florida.
803 Oak Street Operations LLC operates Governor's Creek Health and
Rehabilitation, a 120-bed SNF located in Green Cove Springs,
Florida.

CMC II estimated assets and debt of $100 million to $500 million
as
of the bankruptcy filing.

The Hon. John T. Dorsey is the case judge.

The Debtors tapped Chipman Brown Cicero & Cole, LLP, as counsel;
and Alvarez & Marsal North America, LLC as restructuring advisor.
Evans Senior Investments is the Debtors' broker.  Stretto is the
claims agent.



COOPER TIRE: Egan-Jones Withdraws BB Senior Unsecured Ratings
-------------------------------------------------------------
Egan-Jones Ratings Company, on July 27, 2021, withdrew its 'BB'
foreign currency and local currency senior unsecured ratings on
debt issued by Cooper Tire & Rubber Company.

Headquartered in Findlay, Ohio, Cooper Tire & Rubber Company
manufactures and markets replacement tires.



CORSAIR-USA-NJ: Seeks to Hire Center City Law as Bankruptcy Counsel
-------------------------------------------------------------------
Corsair-USA-NJ, LLC seeks approval from the U.S. Bankruptcy Court
for the Eastern District of Pennsylvania to hire Center City Law
Offices, LLC to serve as legal counsel in its Chapter 11 case.

The firm's services include:

     a) preparation of all papers required to be filed in
connection with this bankruptcy proceeding including all Schedules,
Statement of Financial Affairs, Lists of Creditors, review of
Operating Reports and other papers;

     b) giving the Debtor legal advice with respect to the powers
and duties as Debtors in Possession;

     c) representing the Debtor at its Initial Debtor Interview,
its first meeting of creditors, all status hearings; confirmation
hearings and any Rule 2004 examinations;

     d) preparing on behalf of the Debtor in Possession, all
necessary Applications, Answers, Complaints, Motions, Orders,
Reports and all legal papers; and

     e) performing all other legal services for the Debtor as
Debtor in Possession as may be required and necessary concerning
the continued administration of this case including the preparation
of the Disclosure Statement, if necessary, Disposable Income Test
and Plan of Reorganization.

The firm's hourly rates as of January 1, 2021 are as follows:

     Principal         $330
     Associates        $165

The Debtor paid a retainer fee of $6,000 to the law firm.

Maggie S. Soboleski, sole proprietor of the firm, disclosed in a
court filing that she is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Maggie S. Soboleski, Esq.
     Center City Law Offices, LLC
     2705 Bainbridge Street
     Philadelphia, PA 19107

                  About Corsair-USA-NJ

Corsair-USA-NJ, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Pa. Case No. 21-11632) on June 8,
2021. Jason Konek, managing member, signed the petition. At the
time of the filing, the Debtor disclosed $0 to $50,000 in both
assets and liabilities.

Judge Ashely M. Chan oversees the case.

The Debtor tapped Center City Law Offices, LLC as legal counsel.


COSTA HOLLYWOOD: Liquidating Trustee Taps Cimo as Special Counsel
-----------------------------------------------------------------
Maria Yip, the official appointed to oversee the Costa Hollywood
Property Owner, LLC Liquidating Trust, seeks approval from the U.S.
Bankruptcy Court for the Southern District of Florida to hire Cimo
Mazer Mark, PLLC to serve as special litigation counsel.

The liquidating trustee needs the firm's legal assistance to
prosecute:  

     (a) claims against former insiders, officers, directors,
managers, owners, shareholders, members, partners, employees, or
control persons of the Debtor;

     (b) Chapter 5 avoidance claims;

     (c) insurance recovery claims; and

     (d) other litigation claims.

The firm will be paid on a 35 percent contingency fee basis.

David Cimo, Esq., the firm's attorney who will be providing the
services, disclosed in a court filing that he is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     David C. Cimo, Esq.
     Cimo Mazer Mark PLLC
     100 SE 2nd Street, Suite 3650
     Miami, FL 33131
     Tel.: 305.374.6482
     Phone: 305.439.3429
     Email: dcimo@cmmlawgroup.com

               About Costa Hollywood Property Owner

Costa Hollywood Property Owner, LLC --
https://www.costahollywoodresort.com -- is a privately held company
in the traveler accommodation industry.  It owns and operates Costa
Hollywood Beach Resort, a resort hotel in Hollywood Beach, Fla.
Costa Hollywood Beach Resort offers rooms and suites featuring an
elevated design aesthetic and luxe decor.  

Costa Hollywood sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Fla. Case No. 19-22483) on Sept. 19,
2019.  In the petition signed by Moses Bensusan, manager and sole
member, the Debtor disclosed assets of between $50 million and $100
million and liabilities of the same range.  

Judge A. Jay Cristol is the case judge.  

Peter D. Russin, Esq., at Meland Russin & Budwick, P.A. is the
Debtor's bankruptcy counsel.

The bankruptcy court confirmed the Debtor's Chapter 11 plan of
liquidation on Aug. 25, 2020.  

Maria M. Yip is the official appointed to administer the Costa
Hollywood Property Owners, LLC Liquidating Trust. Nelson Mullins
Broad and Cimo Mazer Mark, PLLC serve as the liquidating trustee's
bankruptcy counsel and special litigation counsel, respectively.
Cassel and Yip Associates is the financial advisor.  


CROWN HOLDINGS: Egan-Jones Hikes Senior Unsecured Ratings to BB
---------------------------------------------------------------
Egan-Jones Ratings Company, on July 29, 2021, upgraded the foreign
currency and local currency senior unsecured ratings on debt issued
by Crown Holdings, Inc. to BB from BB-.

Headquartered in Philadelphia, Pennsylvania, Crown Holdings, Inc.
designs, manufactures and sells packaging products for consumer
goods through plants located in countries around the world.



CYPRESS SEMICONDUCTOR: Egan-Jones Withdraws BB- Sr. Unsec. Ratings
------------------------------------------------------------------
Egan-Jones Ratings Company, on July 27, 2021, withdrew its 'BB-'
foreign currency and local currency senior unsecured ratings on
debt issued by Cypress Semiconductor Corporation.

Headquartered in San Jose, California, Cypress Semiconductor
Corporation designs, develops, manufactures, and markets a line of
digital and mixed-signal integrated circuits.



DANIEL T. LEE: Unsecureds to Get 0 Cents on Dollar in Plan
----------------------------------------------------------
Daniel T. Lee Dental Corporation submitted a Plan of
Reorganization.

The Debtor's financial projections show that the Debtor will have a
projected disposable income of $356,552.  The final Plan payment is
expected to be paid on the 60th month following the Effective Date.
However, payments will continue after Plan completion for ten more
years to Bank of the West.

Non-priority unsecured creditors holding allowed claims will
receive distributions, which the proponent of this Plan has valued
at approximately 0 cents on the dollar.

The Plan will be funded by projected disposable income derived from
Debtor's ongoing business operations. The Plan payments will be
amortized over 20 years, but due in 5 years for Dr. Smith, and 15
years for Bank of the West. It is expected that Debtor's
profitability will reach 2018-2019 levels after about 2 years.

A copy of the Disclosure Statement dated August 4, 2021, is
available at https://bit.ly/3jFwU8a from PacerMonitor.com.

                    About Daniel T. Lee Dental

Daniel T. Lee Dental Corporation d/b/a Northern California Dental,
based in San Jose, CA, filed a Chapter 11 petition (Bankr. N.D.
Cal. Case No. 20-51022) on July 8, 2020. In the petition signed by
Daniel T. Lee, president, the Debtor disclosed $259,121 in assets
and $1,640,036 in liabilities. The Hon. Elaine M. Hammond oversees
the case. Stanley Zlotoff, Esq., serves as bankruptcy counsel to
the Debtor.


DEA BROTHERS: Ruling on Asset Valuation to Decide Recovery in Plan
------------------------------------------------------------------
DEA Brothers Sisters, LLC filed with the U.S. Bankruptcy Court for
the Central District of California a Chapter 11 Plan of
Reorganization and Disclosure Statement dated August 6, 2021.

The Plan will be funded through the available cash on the Effective
Date, the scheduled future monthly disposable income, and up front
capitalization and monthly contributions on an as needed basis.  

The cash balance in Debtor's DIP Account as of June 30, 2021 is
$31,203.  Enayatali Ali Jiwani, the Debtor's managing member,
intends to deposit a yet undetermined amount of cash into the
Debtor's DIP account within 30 days following Confirmation of the
Plan to increase the cash available for the Debtor to continue its
business operations.  Mr. Jiwani also intends to make a monthly
deposit into the Debtor's business account to assist with any
negative cash flow.  The Debtor estimates that projected future
monthly disposable income available to pay all plan creditors for
the five-year period of the Plan following confirmation is
approximately $624,000 based on presently available monthly income.
It is reasonably expected that this amount will increase by an
additional $2,000 to $3000 monthly as the eviction moratorium is
lifted by Los Angeles County.  

Classified Claims and Interests under the Plan

A. Unimpaired Secured Claims

A&G, the fourth creditor, has filed Proof of Claim No. 2 asserting
a claim of $497,000 as fully secured, with an alleged value of its
collateral at $2,518,000.  Debtor is actively opposing this claim
by virtue of its motion to value the property at $1.7 million.  It
is the Debtor's position, based on three current appraisals from
Mr. Roger Douglass and the parties' third unbiased Expert
Appraiser, Mr. Rod Hefington, that the subject property has a value
not to exceed $1.7 million.  As such, A&G as a fourth creditor will
have no secured claim in the upcoming Plan.

B. Impaired Secured Claims

The Debtor has a Stipulation to Plan Treatment with the First Lien
Holder, Mr. Alejandro Hernandez, with respect to his Claim with a
secured lien for $1,760,000.  The Stipulation to Plan Treatment
provides for payment of $1,700,000 at an interest rate of 2.5%,
payable monthly at $7,988, with any remaining balance or arrearage
due in August 2050.  The Stipulation provides that Mr. Hernandez
will not object to the Plan for other than non-payment of the
Stipulation and will lodge a vote in favor of the Plan.

C. General Unsecured Claims

As of date of filing of the Disclosure Statement, the Debtor cannot
accurately calculate the recipients and balances of the general
unsecured claims as there has been no Court pronouncement of the
subject property's value.  If the Court rules in favor of Debtor
and orders a valuation of $1.7 million, the general unsecured
claimants will potentially consist of the Internal Revenue Service
($288,000+), the FTB ($11,000+), and A&G alleged balance ($275,000
to $497,000).  Payments for the General Unsecured Class shall begin
on the first day of the month following the Effective Date of the
Chapter 11 Plan and then paid on a quarterly basis going forward.
The Final Payments may occur as late as the 60th month of the
Plan.

D. Classes of Interest Holders

The Managing Member of the Debtor, Enayatali Ali Jiwani (who is the
Debtor's sole and exclusive interest holder, being its sole member)
will retain present property management on a post-confirmation
basis.

A copy of the Disclosure Statement is available for free at
https://bit.ly/37uw0p8 from PacerMonitor.com.

The hearing to consider approval of the Disclosure Statement is set
for September 30, 2021 at 10:30 a.m.

Counsel for the Debtor:

   John H. Bauer, Esq.
   Financial Relief Legal Advocates, Inc.
   56925 Yucca Trail, No. 512
   Yucca Valley, CA 92284
   Telephone: (714) 319-3446
   Email: johnbhud@aol.com


                    About DEA Brothers Sisters
  
DEA Brothers Sisters, LLC is a Laguna Hills, Calif.-based company
that owns a strip shopping center located at 16502 S. Main St.,
Carson, California.

DEA Brothers Sisters sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Calif. Case No. 21-10608) on March 10,
2021.  In the petition signed by Enayat Ali Jiwani, the sole
managing member, the Debtor disclosed between $1 million and $10
million in both assets and liabilities.  Judge Erithe A. Smith
oversees the case.  Financial Relief Legal Advocates, Inc. and
Osborn Plasse serve as the Debtor's legal counsel.




DENBURY INC: Egan-Jones Withdraws D Senior Unsecured Ratings
------------------------------------------------------------
Egan-Jones Ratings Company, on July 28, 2021, withdrew its 'D'
foreign currency and local currency senior unsecured ratings on
debt issued by Denbury Inc. EJR also withdrew its 'D' rating on
commercial paper issued by the Company.

Headquartered in Plano, Texas, Denbury Inc. operates as an
independent oil and natural gas company.



DOW CHEMICAL: Egan-Jones Keeps BB+ Senior Unsecured Ratings
-----------------------------------------------------------
Egan-Jones Ratings Company, on July 30, 2021, maintained its 'BB+'
foreign currency and local currency senior unsecured ratings on
debt issued by Dow Chemical Company.

Headquartered in Midland, Michigan, Dow Chemical Company operates
as a chemical company.



ELDORADO GOLD: Fitch Rates Sr. Unsecured Notes Due 2029 'B+'
------------------------------------------------------------
Fitch Ratings has assigned a 'B+'/'RR4' rating to Eldorado Gold
Corporation's new senior unsecured notes due 2029. Proceeds will be
used to repay the remainder of the first lien term loan, second
lien notes and the outstanding amount on the $250 million credit
facility. The notes will not be guaranteed by the holding company
for assets located in Greece but will be guaranteed by holding
companies for Canadian and Turkish assets.

The rating reflects Eldorado's small size and concentration,
average cost position, stable production, average mine life and
execution and regulatory risks in Greece.

The Stable Outlook reflects Fitch's expectations that Eldorado will
maintain sufficient liquidity and achieve annual gold production at
an average of over 450,000 ounces through 2023 while total
debt/EBITDA is sustained below 3.0x at Fitch's gold price
assumptions.

KEY RATING DRIVERS

Cost Position: Eldorado Gold reported gold cash costs of $649/oz.
and all-in sustaining costs of $921/oz. in 2020, reflecting a
weighted average position in the second-quartile of CRU's 2020
global cost curves. The company's key Kisladag mine is in the first
quartile of CRU's 2020 gold all-in sustaining costs, Lamaque and
Efemcukuru mines are second-quartile and Olympias is in the
fourth-quartile. Kisladag (Turkey) accounted for 43%, Lamaque
(Canada) accounted for 27%, Efemcukuru (Turkey) accounted for 19%
and Olympias (Greece) accounted for 11% of 2020 gold production.

Fitch expects Eldorado to maintain an average cost position in the
second-quartile of the cost curve through the forecast period.
Fitch notes that near term, all-in costs will increase modestly,
given royalties on sales from operations in Greece will increase by
10% of the amount payable under the existing royalty. Furthermore,
cash flows will be decreased since the corporate income tax rate in
Turkey will increase to 25% for 2021 and 23% for 2022 before
returning to 20% in 2023. Longer term, successful completion of the
Skouries gold-copper and Perama Hill gold-silver projects in Greece
could improve Eldorado Gold's cost position since pre-feasibility
studies indicate first-quartile cost positions.

Elevated Growth Spending:  Fitch expects sustaining capital to
remain at or under $150 million per year over the rating horizon.
Growth spending at existing operations of $135 million-$150 million
in 2021 includes spending to complete the high-pressure grinding
roll and construction of phase one of the North Leach Pad at
Kisladag, continued development of the Triangle decline, as well as
additional mining equipment purchases and modest mill upgrades
toward achieving 2,200 tonnes-per-day capacity at Lamaque, and
process plant expansion and contractor development to support a
planned ramp-up to 650,000/tonnes per year at Olympias. Fitch
expects growth capital and exploration spending at existing
operations to be elevated as long as opportunities exist and gold
prices and cash flow are supportive.

Project Pipeline: Fitch's rating case does include 2021
pre-construction capex of $30 million for Skouries and $10 million
for Perama Hill, but has not included construction spending since
construction has not been approved. At Skouries, the company
received an updated investment agreement and permits for dry stack
tailings. To protect assets during the care & maintenance period, ,
the company made investments in the mill building, pebble crusher
and the flotation building in 2019. Pre-construction spending in
2021 includes further remedial and design works as well as
additional engineering and feasibility-level updates to the capital
cost estimate.

The company expects construction at Skouries to cost about $700
million on a 100% basis, and to take about 30 months. The prior
technical report (March 29, 2018) indicates an initial 23-year mine
life producing 140,000 ounces of gold per year at cash costs in the
low first-quartile. The company continues to evaluate financing
options for the Skouries project, and management stated that a
joint venture partner at the Kassandra level is the optimum
strategy. The Perama Hill project is further back in potential
sequencing, given that it is awaiting an environmental impact
assessment approval. According to the January 2010 technical
report, Perama Hill will have an initial eight-year mine life,
average annual production of 100,000 ounces and average cash costs
in the upper first-quartile.

Gold Price Sensitivity: In 2020, roughly 91% of revenue was derived
from gold sales. Fitch estimates a 10% drop in the price of gold
would reduce EBITDA by roughly $70 million in 2021. Under Fitch's
rating case, the agency assumes gold prices at $1,700/oz in 2021,
$1,500/oz in 2022 and $1,200/oz thereafter compared with average
realized gold prices of $1,783/oz in 2020 and $1,800/oz in 1H21.

Fitch expects average annual EBITDA to be around $300 million in
2021 and 2022, at Fitch's gold price assumptions and near-term
lower grades at Kisladag, and to be at least $200 million per year
thereafter.

Leverage Expectations: Fitch expects total debt/EBITDA to range
between 1.8x and 2.8x at its price and capital assumptions . Fitch
also expects growth capex to result in limited FCF, and that
development capex will require external financing. Additionally,
Fitch expects Eldorado Gold to finance the projects in a credit
conscious manner so that total debt/EBITDA is sustained at or below
3.0x.

DERIVATION SUMMARY

Eldorado Gold is smaller and less diversified than copper, zinc and
precious metals producer Hudbay Minerals Inc. (B+/Positive) and
larger and more diversified than gold producer Gran Colombia Gold
Corp. (B+/Stable). Eldorado has some operations in higher
regulatory risk jurisdictions compared with Hudbay, but is in line
with Gran Colombia.

Mine life based on reserves and 2020 production for Eldorado Gold
is greater than 16 years, which compares favorably with most
investment-grade (IG) rated gold mining peers. Eldorado Gold's cost
position is similar to most IG gold mining peers.

Eldorado Gold's total debt/EBITDA was 1.0x compared with Hudbay's
total debt/EBITDA at 3.1x and Gran Colombia's at 0.3x at March 31,
2021. Current leverage for gold producers is low relative to
ratings sensitivities given cycle high gold prices.

KEY ASSUMPTIONS

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

-- Gold sales at 425,000 ounces in 2021; 430,000 ounces in 2022;
    480,000 ounces in 2023; and 480,000 ounces in 2024;

-- Gold prices at $1,700/oz. in 2021, $1,500/oz. in 2022 and
    $1,200/oz., thereafter;

-- EBITDA margins at about 39% in 2021 declining to 38% in 2022
    and 33% in 2023;

-- Capex averages between 35% to 45% of revenue annually;

-- Skouries construction capital and production is excluded;

-- Debt is refinanced with the new unsecured notes.

KEY RECOVERY RATING ASSUMPTIONS:

-- The recovery analysis assumes that Eldorado Gold. would be
    reorganized as a going-concern in bankruptcy rather than
    liquidated;

-- Fitch has assumed a 10% administrative claim.

Going-Concern (GC) Approach

The GC EBITDA estimate reflects Fitch's view of a sustainable,
post-reorganization EBITDA level upon which Fitch bases the
enterprise valuation.

The GC EBITDA assumption for this gold producer reflects the
industry's move from top of the cycle gold prices to $1,000/oz.
which would stress the capital structure.

An EV multiple of 5x EBITDA is applied to the GC EBITDA to
calculate a post-reorganization enterprise value. The choice of
this multiple considered the following factors:

The historical bankruptcy case study exit multiples for peer
companies averaged 5.5x.

Fitch uses a multiple of 5.0x, to estimate a value for Eldorado
Gold because of its relatively small size and average cost but
higher country risk.

The $250 million revolver is assumed to be fully drawn upon
default. The first lien revolver loans are is senior to the senior
unsecured notes.

The allocation of value in the liability waterfall results in
recovery corresponding to 'RR1' recovery for the first lien
revolver ($250 million) and a recovery corresponding to 'RR4' for
the senior unsecured notes. The 'RR4' for the senior unsecured
notes considers the potential for additional first lien or second
lien borrowings running up to default.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

-- Improved size and scale;

-- Visibility in to the spending, completion risk and financing
    on the Skouries project;

-- Expectations for total debt/EBITDA to be sustained below 2.3x
    or FFO net leverage to be sustained below 1.8x at Fitch's
    price assumptions;

-- Average cost position maintained in second quartile of global
    cost curve;

-- Visibility into maintaining low risk mines with an average
    operating mine life greater than 10 years.

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- Expectations for total debt/EBITDA sustained above 3.3x;

-- Deviation from financial policy without a clear path towards
    de-leveraging during periods of heavy investment spending.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.

LIQUIDITY AND DEBT STRUCTURE

Solid Liquidity: Cash on hand was $410 million and $150 million was
available under a $250 million revolving credit facility, as of
March 31, 2021. The revolver was drawn by $150 million in 1Q20 to
support ready liquidity during the pandemic and $50 million was
repaid in 2Q21. The revolver matures on June 5, 2023. The facility
has a net debt/EBITDA covenant maximum of 3.5x and an interest
coverage covenant of no less than 3.0x. Fitch expects Eldorado Gold
to continue to be in compliance with these covenants.

ISSUER PROFILE

Eldorado Gold Corp. is a small, average cost, Canadian domiciled
gold and base metals producer operating five mines: Kisladag (43%
of 2020 gold production) and Efemcukuru (19% of 2020 gold
production) located in western Turkey, Lamaque (27% of 2020 gold
production) in Canada, and Olympias (11% of 2020 gold production)
and Stratoni (silver, lead, zinc) located in northern Greece.
Eldorado has an advanced stage development gold-copper project,
Skouries, in northern Greece. Skouries has been on care and
maintenance since 2018.

SUMMARY OF FINANCIAL ADJUSTMENTS

No material financial adjustments have been made outside standard
criteria.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.


EXPO CONSTRUCTION: Unsecs. Get 5% of Claim, a Share in 'Net Profit'
-------------------------------------------------------------------
Expo Construction Group, LLC filed with the U.S. Bankruptcy Court
for the Southern District of Texas a Second Amended Chapter 11 Plan
and Second Amended Disclosure Statement dated August 6, 2021.
Payments and distributions under the Plan will be funded through
future income from the operations of the Debtor's construction
company.  

The Classes of Claims and Interest under the Plan are:  

A. Secured Claims

* Class 3 (a) Convenience Class - Secured Taxing Authority
Creditors

   a. Harris County filed a secured claim for $105. The Debtor will
pay this claim in full plus statutory interest on the Effective
Date of the Plan.

   b. Klein Independent School District filed a secured claim for
$194.75. The Debtor will pay this claim in full plus statutory
interest on the Effective Date of the plan.  Class 3 (a) is
impaired

* Class 3 (b) Lender Secured Creditor

World Business Lenders, LLC has filed two claims: one for $237,128,
and one for $182,435.  WBL has a lien against the personal property
assets of the Debtor by filing a UCC in July 2020.  The first claim
for $237,128 will be paid in full, plus 5% interest amortized over
240 months at $1,565 per month.  The second claim is bifurcated
since the assets of the company are $271,369.  $34,241 of the
second claim will be paid in full with zero interest, amortized
over 240 months at $143 per month.  The balance of the second
claim, $148,193, will be classified as an unsecured debt.  The
combined payment on these loans will be $1,708 per month for 60
months.  The debt, however, will be refinanced or paid in full at
the end of 60 months. The first monthly Plan payment will due and
payable on the 15th day of the first full calendar month following
60 days after the effective date of the Plan.  Class 3(b) is
impaired

B. General Unsecured Claims

* Class 4(a) General Unsecured Claims

Allowed general unsecured creditors will each be paid 5% of their
claims to be paid monthly for 60 months.  The first monthly payment
will be due on the 15th day of the first full month following the
effective date of the plan.  

The 95% balance owed to Class Creditors will be paid on the
following terms:

Each year, during the term of the five-year Plan, if the
Reorganized Debtor made a "net profit" the Reorganized Debtor shall
pay to the allowed unsecured creditors their pro-rata share of 25%
of the net profit for the previous year, in 12 monthly payments
beginning on June 15 of the year in which the financial statement
is mailed to these creditors.  "Net profit" is defined as gross
profit less normal operating expenses plus income taxes and all
administrative, priority and secured plan payments.  At the end of
the five-year Plan term, the remaining balance owed to Allowed
Class 4 creditors, if any, will be discharged.  It should be noted
that the 25% of net profits payout will be shared pro rata with the
4(b) construction creditors.  Class 4(a) is impaired

* Class 4(b) Construction Creditors

Allowed construction creditors have already been paid in full or a
partial amount or are being paid either in full or a partial amount
by the owners of the construction projects from the Debtor's
retention funds.  The retainage available on each project will be
available only to satisfy that particular project's claims.  After
all payments from retainage are received by the construction
creditors, the allowed Class 4(b) creditors will be paid the
balance of their claims from the 25% of the "net profits" payout
shared pro rata with the Class 4(a) allowed general unsecured
creditors.

The retainage balance per project was as follows: (a) Holiday Inn
West: $762,500; (b) Holiday Inn Stafford: $625,000; and (c)
Courtyard Marriott: $1,200,000.  The project owners are: (i)
Holiday Inn West is owned by Commonwealth Hospitality, LP; (ii)
Holiday Inn Stafford is owned by Sugar Creek Hospitality, Inc.; and
(iii) Courtyard Marriott is owned by Houston GP Hotel Group, LLC.
Class 4(b) is impaired.

C. Insider Claims

Insiders will not be paid any pre-petition claims during the term
of the Plan and their claims will be discharged upon confirmation
of the Plan.

D. Equity Interest Holders

Equity interest holders are parties who hold an ownership interest
(i.e., equity interest) in Expo Construction Group, LLC. The member
is Melida Taveras.

Post-confirmation, the company will continue to operate the
business.  The current management will continue to operate the
company after the effective date.     

A copy of the Disclosure Statement is available for free at
https://bit.ly/2VMd9DR from PacerMonitor.com.

The hearing to consider approval of the Disclosure Statement will
be on September 14, 2021 at 1:30 p.m.


                   About Expo Construction Group

Expo Construction Group, LLC, a Houston-based general contractor,
filed a voluntary petition for relief under Chapter 11 of the
United States Code (Bankr. S.D. Tex. Case No. 20-34099) on Aug. 18,
2020.  Melida Taveras, a managing member, signed the petition. At
the time of filing, the Debtor estimated $100,000 to $500,000 in
assets and $1 million to $10 million in liabilities.  The Law
Office of Margaret M. McClure serves as the Debtor's legal
counsel.



FORD MOTOR: Egan-Jones Keeps B Senior Unsecured Ratings
-------------------------------------------------------
Egan-Jones Ratings Company, on July 27, 2021, maintained its 'B'
foreign currency and local currency senior unsecured ratings on
debt issued by Ford Motor Company. EJR also maintained its 'B'
rating on commercial paper issued by the Company.

Headquartered in Dearborn, Michigan, Ford Motor Company designs,
manufactures, and services cars and trucks.



FREEDOM SALES: Seeks Cash Collateral Access
-------------------------------------------
Freedom Sales & Services, LLC asks the U.S. Bankruptcy Court for
the Western District of Texas, Midland Division, for authority to
use cash collateral in accordance with the proposed budget, with a
5% variance.

The Debtor requires the use of cash collateral for payroll and
general operating expenses.
  
A search in the Texas Secretary of State shows that allegedly
secured positions are held by Tejas Bank and the Internal Revenue
Service.

The Debtor obtains revenue from its natural gas mining supplies and
parts sales and would use such revenue to pay the budgeted
expenses. Moreover, the revenue will be deposited by the Debtor in
its DIP operating account pending entry of an order allowing use of
cash collateral or consent by lien holders.

The Debtor also requests the Court to set a hearing on the matter.


A copy of the motion is available at https://bit.ly/3lR1nCC from
PacerMonitor.com.

                About Freedom Sales & Services, LLC

Freedom Sales & Services, LLC sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 21-70120) on
August 6, 2021. In the petition signed by Angel Borunda,
owner/president, the Debtor disclosed up to $100,000 in both assets
and liabilities.

Robert Chamless Lane, Esq., at The Lane Law Firm is the Debtor's
counsel.



GCI LIBERTY: Egan-Jones Withdraws CCC+ Senior Unsecured Ratings
---------------------------------------------------------------
Egan-Jones Ratings Company, on July 28, 2021, withdrew its 'CCC+'
foreign currency and local currency senior unsecured ratings on
debt issued by GCI Liberty, Inc. EJR also withdrew its 'B' rating
on commercial paper issued by the Company.

Headquartered in Anchorage, Alaska, GCI Liberty, Inc. provides
telecommunication services.



GIGA-TRONICS: Reports $860K Net Loss in First Quarter
-----------------------------------------------------
Giga-Tronics Incorporated filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
attributable to common shareholders of $860,000 on $2.05 million of
total revenue for the three months ended June 26, 2021, compared to
net income attributable to common shareholders of $72,000 on $3.55
million of total revenue for the three months ended June 27, 2020.

As of June 26, 2021, the Company had $8.21 million in total assets,
$4.68 million in total liabilities, and $3.53 million in total
shareholders' equity.

The Company stated, "The COVID-19 pandemic has caused significant
disruptions to the global, national and local economy.  The overall
economic and other impacts of the COVID-19 pandemic in the areas in
which the Company and its customers and suppliers operates is not
known and cannot be predicted at this time.  While the disruption
is currently expected to be temporary, there is uncertainty about
the duration and the total economic impact.  If this situation is
prolonged, the pandemic could cause additional delays and could
have a short- or long-term adverse impact, possibly material, on
the Company's future financial condition, liquidity, and results of
operations."

During the first quarter of fiscal 2022, the Company used cash of
$699,000 from operating activities compared to $439,000 used in the
first quarter of fiscal 2021.  The increase in the cash used was
primarily due to an increase in inventories, in anticipation of new
orders, of $829,000 from $3.6 million as of March 27, 2021 to $4.4
million as of June 26, 2021.

The Company expects that cash flows from operating activities will
fluctuate in future periods due to a number of factors including
its level of revenue, which fluctuates significantly from one
period to another due to the timing of receipt of contracts,
operating results, amounts of non-cash charges, and the timing of
its inventory purchases, billings, collections and disbursements.

Cash provided by financing activities for the three-month period
ended June 26, 2021 was $993,000 which was primarily the result of
net proceeds of approximately $1.3 million from the sale of
prefunded warrants and net proceeds of $146,000 from the sale of
common stock, partially offset by a net reduction of $388,000 in
the loan payable balance and lease payments of $108,000.

Cash provided by financing activities for the three-month period
ended June 27, 2020 was $424,000, primarily due to proceeds from
the PPP Loan of $786,000.

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/719274/000143774921019302/giga20210626_10q.htm

                      About Giga-tronics Inc.

Headquartered in Dublin, California, Giga-tronics is a publicly
held company, traded on the OTCQB Capital Market under the symbol
"GIGA".  Giga-tronics -- http://www.gigatronics.com-- produces
RADAR filters and Microwave Integrated Components for use in
military defense applications as well as sophisticated RADAR and
Electronic Warfare (RADAR/EW) test products primarily used in
electronic warfare test & emulation applications.

Giga-Tronics reported a net loss attributable to common
shareholders of $407,000 for the year ended March 27, 2021,
compared to a net loss attributable to common shareholders of $2.03
million for the year ended March 28, 2020.  As of March 27, 2021,
the Company had $7.85 million in total assets, $3.60 million in
total liabilities, and $4.25 million in total shareholders' equity.


GNC CORP: Egan-Jones Withdraws D Senior Unsecured Ratings
---------------------------------------------------------
Egan-Jones Ratings Company, on July 28, 2021, withdrew its 'D'
foreign currency and local currency senior unsecured ratings on
debt issued by GNC Corporation.

Headquartered in Pittsburgh, Pennsylvania, GNC Corporation retails
nutritional supplements.



GNC HOLDINGS: Egan-Jones Withdraws D Senior Unsecured Ratings
-------------------------------------------------------------
Egan-Jones Ratings Company, on July 28, 2021, withdrew its 'D'
foreign currency and local currency senior unsecured ratings on
debt issued by GNC Holdings, Inc.

Headquartered in Pittsburgh, Pennsylvania, GNC Holdings, Inc.
operates a chain of health and wellness stores worldwide.



GPS HOSPITALITY: Fitch Assigns Final 'B-' LT IDR, Outlook Stable
----------------------------------------------------------------
Fitch Ratings has assigned a final Long-Term Issuer Default Rating
of 'B-' to GPS Hospitality Holding Company LLC (GPS) following the
company's recent recapitalization. Fitch has also assigned a
'BB-'/'RR1' rating to GPS's $50 million super-senior revolving
credit facility and a 'B-'/'RR4' rating to its $400 million senior
secured notes which are co-borrowed by GPS Finco Inc. The notes
will be used to refinance the company's existing capital structure
including a $250 million term loan and $100 million in preferred
shares. The Rating Outlook is Stable.

The rating considers the company's status as a leading U.S.
franchisee of Burger King, the second largest quick-serve
restaurant (QSR) burger company in the U.S. and the world, as well
as Fitch's expectation of high leverage with adjusted debt/EBITDAR
of around 7.0x following the refinancing, the company's small scale
with EBITDA around $60 million and the risks inherent with the
company's acquisition strategy.

KEY RATING DRIVERS

Acquisitive Strategy Yields Moderate Diversity: GPS is a
multi-brand restaurant operator managing a modestly diversified
portfolio of 477 franchised restaurants under three leading brands:
Burger King (83% of units), Pizza Hut (13%) and Popeyes (4%)
yielding a relatively balanced mix by daypart with about a third of
sales coming from lunch, 21% each from dinner and snack, with the
remainder evenly split between breakfast and late night. Founded in
2012, GPS has grown its portfolio through strategic acquisitions of
around 470 units supplemented with greenfield development and
offset by unit closures.

Since its inception in 2012, GPS has been highly acquisitive
completing 12 acquisitions expanding from its core Burger King
platform to include Popeyes starting in 2016 and, most recently
adding Pizza Hut in 2018. The company has expanded from its core
Georgia market where it maintains a sizable presence (28% of
current locations) into twelve additional states, primarily focused
in the south, mid-Atlantic, and Michigan. Given the company's
history, Fitch expects GPS to remain acquisitive going forward
which heightens both operational and balance sheet risks.
Aggressive acquisitions that result in sustained Fitch-adjusted
leverage above 7.0x would be negative for the company's rating.

High Visibility Within Strong Franchisor System: Fitch views
greater scale within a franchisor system as positive and with
nearly 400 Burger King locations, GPS is the third largest
franchisee of the brand in the U.S. Burger King is the second
largest hamburger chain both globally and domestically, with over
$20 billion in systemwide sales across nearly 19,000 restaurants.
GPS's scale and strong performance provide the company with direct
access to management not available to smaller franchisees, which
provides the company with a voice in strategic and operational
decisions made by Burger King through GPS's representations in
various franchisee councils. Awards received in 2018 for Global and
North American Franchisee of the Year further reflect the company's
stature in the organization.

QSR Business Model Proves Resilient: The QRS model has proven
resilient through economic cycles as increased spending power
provides a tailwind during periods of strong economic activity
while a reputation for value and the trading down by consumers from
more expensive options limit downside during economic slowdowns.
While GPS was established after the Great Recession, Fitch believes
North American same-restaurant sales (SRS) at the Burger King brand
were largely flat during the 2008 to 2009 period while SRS for
casual dining and fine dining competitors quickly turned sharply
negative and, in many cases, remained negative through much of the
period illustrating the brand's resilience during economic
downturns.

QSR's also meaningfully outperformed other restaurant formats
during the pandemic as mandated and proactive dining room closures
throughout the industry had less of an impact on QRSs given a
primarily off-premise consumption model and also due to a low-touch
transaction environment facilitated by the prevalence of
drive-thru's and a well-developed digital infrastructure. While
industry data provided by the company suggests that casual dining
SRS declined nearly 40% in 2Q20 and around 15% in the following two
quarters, GPS's SRS declined less than 7% in 2Q20 with SRS turning
positive in the following two quarters, further demonstrating the
resilience of the company's model.

Adequate Liquidity, High Leverage: Pro forma for the refinancing,
Fitch expects GPS to have adequate liquidity to fund operations and
tuck-in acquisitions with pro forma cash of around $40 million and
full access to an undrawn $50 million revolver which is expected to
have around $10 million in LOC's outstanding. Pro forma
Fitch-adjusted leverage (capitalizing leases at 8.0x) is expected
to be elevated, in the 7.0x area. Fitch expects leverage to decline
to the mid-to-high 6.0x area by 2023 driven largely by growth in
EBITDA given limited expected debt paydown due to minimal FCF after
growth capex and acquisitions. Continued debt-funded shareholder
returns could also have negative implications for the company's
rating.

DERIVATION SUMMARY

GPS's 'B-' rating considers its small scale with EBITDA around $60
million, expected high leverage following the company's
recapitalization and minimal expected FCF as well as its moderately
diversified restaurant portfolio across leading U.S. quick-serve
brands.

GPS's rating is in line with fellow QSR franchisee Sizzling
Platter, LLC's 'B-' rating given both companies' limited scale and
FCF generation, modest diversification, and acquisitive growth
strategy. Leverage for both companies is expected to remain in the
6.5x to 7.0x area.

GPS's rating is higher than Wok Holdings, Inc. (PFC;
CCC+/Positive), operator of the P.F. Chang's chain of casual dining
restaurants. PFC's rating reflects the company's good niche
positioning and leading market position in the full-service Asian
category, as well as its high financial leverage, smaller scale
relative to other large casual chain dining concepts and secular
challenges within the casual dining segment that have been
exacerbated by the coronavirus pandemic. PFC has relatively good
system health supported by a better than average brand perception
with broad appeal across most consumer demographics, average unit
volumes that are at least on par with peers and same-store sales
(SSS) performance in-line with the casual dining segment but lower
Fitch-calculated EBITDA margins of 6.9% in 2020 versus some of its
peers that have margins in the mid-teens range.

KEY ASSUMPTIONS

-- Revenue grows around 2.5% to 3.0% organically from a base of
    around $630 million in 2020 as SRS growth of around 2% is
    supplemented by net restaurant growth of around 1% and
    periodic tuck-in acquisitions;

-- EBITDA margins increase from 7.5% in 2020 to 9.0% in 2021
    resulting in EBITDA approaching $60 million as the company
    laps the pandemic-affected 1Q20 performance and as recently
    acquired restaurants improve toward company margins. Fitch
    assumes the company experiences modest leveraging of fixed
    costs going forward on new unit growth with margins expanding
    slightly over time;

-- FCF throughout the forecast remains essentially flat as cash
    is absorbed by capex and acquisition spending;

-- Flat FCF and no prepayable debt result in steady debt levels
    with modest EBITDA growth contributing to leverage declining
    from over 7.0x to the mid 6x range over time.

RATING SENSITIVITIES

Factor that could, individually or collectively, lead to positive
rating action/upgrade:

-- Positive trends in SSS and unit growth, Fitch-calculated
    EBITDA sustained above $50 million, strong FCF and total
    adjusted debt/EBITDAR sustained below 6.0x.

Factor that could, individually or collectively, lead to negative
rating action/downgrade:

-- Adjusted debt/EBITDAR expected to sustain above 7.0x due to
    operational concerns and/or debt financed acquisitions or
    dividends, with persistently negative FCF leading to medium
    term liquidity concerns and/or heightened refinancing risk.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.

LIQUIDITY AND DEBT STRUCTURE

Pro forma for the refinancing, Fitch expects GPS to have adequate
liquidity to fund operations and tuck-in acquisitions with cash
expected around $40 million and full access to an undrawn five-year
$50 million revolver which is expected to have around $10 million
of LOC's outstanding. In addition to the revolver, the company's
debt structure includes seven-year $400 million senior secured
notes. While the revolver and notes will include a first lien on
substantially all assets and equity interests of the company, the
revolver will benefit from super-senior status.

ISSUER PROFILE

GPS is a multi-brand restaurant operator managing a modestly
diversified portfolio of 477 franchised restaurants including
Burger King (83% of units), Pizza Hut (13%) and Popeyes (4%) across
the southern U.S., the mid-Atlantic region and Michigan.

SUMMARY OF FINANCIAL ADJUSTMENTS

Rent expense capitalized by 8.0x to calculate historical and
projected adjusted debt.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.


GRUPO AEROMEXICO SAB: Creditor Committee Objects New Max 737 Leases
-------------------------------------------------------------------
Andrea Navarro of Bloomberg News reports that Aeromexico's
Committee of Unsecured Creditors filed a motion to object the
airline's motion to enter into new Boeing Max 737 leases, according
to a docket filed Aug. 7, 2021 before a N.Y. bankruptcy court.

The Committee believes the motion should not proceed because
Aeromexico decided to acquire the new aircraft after it began the
exit financing process.

At least two of the three exit financing proposals contain an
enterprise value based on a plan that didn't contemplate the
acquisition of the new aircraft, the Committee says.

Because the 737MAX Aircraft (including those subject to the DAE
Leases) are inexorably intertwined with the Debtors' valuation and,
in turn, have a significant impact on the proposed recoveries to
unsecured creditors, the Committee believes that the most sensible
path forward is to use the mediation as a forum for the Debtors,
Committee, and potential exit financing sources to consider the
proposed 737MAX Aircraft acquisition, its expected impact on the
Debtors' earnings, and any related increase in total enterprise
value that potential investors may be willing to include in their
proposals.

                     About Grupo Aeromexico

Grupo Aeromexico, S.A.B. de C.V. (BMV: AEROMEX) --
https://www.aeromexico.com/ -- is a holding company whose
subsidiaries are engaged in commercial aviation in Mexico and the
promotion of passenger loyalty programs.

Aeromexico, Mexico's global airline, has its main hub at Terminal 2
at the Mexico City International Airport. Its destinations network
features the United States, Canada, Central America, South America,
Asia and Europe.

Grupo Aeromexico and three of its subsidiaries sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 20-11563) on June 30,
2020.  In the petitions signed by CFO Ricardo Javier Sanchez Baker,
the Debtors reported consolidated assets and liabilities of $1
billion to $10 billion.

Timothy Graulich, Esq., of Davis Polk and Wardell LLP, serves as
counsel to the Debtors.



HCA HEALTHCARE: Egan-Jones Keeps 'BB' LC Senior Unsecured Ratings
-----------------------------------------------------------------
Egan-Jones Ratings Company, on July 26, 2021, maintained its 'BB'
local currency senior unsecured ratings on debt issued by HCA
Healthcare, Inc.

Headquartered in Nashville, Tennessee, HCA Healthcare, Inc. offers
health care services.



HCA INC: Egan-Jones Keeps BB Senior Unsecured Ratings
-----------------------------------------------------
Egan-Jones Ratings Company, on July 26, 2021, maintained its 'BB'
foreign currency and local currency senior unsecured ratings on
debt issued by HCA Inc.

Headquartered in Nashville, Tennessee, HCA Inc. of Delaware owns,
manages, and operates hospitals.



HCA WEST: Seeks to Employ Moss Adams as Tax Accountant
------------------------------------------------------
HCA West Inc. and its affiliates seek approval from the U.S.
Bankruptcy Court for the Central District of California to hire
Moss Adams, LLP as tax accountant.

The Debtor has agreed to pay Moss Adams a retainer fee of $17,500
and a flat fee of $35,000 for the preparation of its federal and
state tax returns for the tax year ending Dec. 31, 2020.  

Meanwhile, the firm will be paid a flat fee of $45,000 for the
preparation of the Debtor's tax returns for the stub period of
2021, and may require a progress payment of $22,500.

Moss Adams is "disinterested" within the meaning of Section 101(14)
of the Bankruptcy Code as disclosed in court filings.

The firm can be reached at:

     Shannan Gardner
     Moss Adams LLP
     2040 Main Street, Suite 900
     Irvine, CA 92614
     Phone: (949) 623-4198
     Email: shannan.gardner@mossadams.com

                        About HCA West Inc.

HCA West Inc., previously known as Hytera Communications America
(West), Inc. -- https://www.hytera.us/ -- is a global company in
the two-way radio communications industry. It has 10 international
R&D Innovation Centers and more than 90 regional organizations
around the world. Forty percent of HCA West employees is engaged in
engineering, research, and product design.  The company has three
manufacturing centers in China and Spain.

On May 26, 2020, HCA West and its affiliates sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Calif. Lead
Case No. 20-11507). At the time of the filing, HCA West listed
assets of between $10 million and $50 million and liabilities of
between $500 million and $1 billion.

Judge Erithe A. Smith oversees the cases.

The Debtors tapped Pachulski Stang Ziehl & Jones LLP as bankruptcy
counsel, Steptoe & Johnson LLP as corporate and special counsel,
Imperial Capital LLC as financial advisor, David Stapleton of
Stapleton Group as chief restructuring officer, and Moss Adams LLP
as tax accountant.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on June 15, 2020. The committee is represented by Levene
Neale Bender Yoo & Brill, LLP.


HEALTHIER CHOICES: Posts $179,665 Net Income in Second Quarter
--------------------------------------------------------------
Healthier Choices Management Corp. filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q disclosing
net income of $179,665 on $3.39 million of total net sales for the
three months ended June 30, 2021, compared to a net loss of
$818,680 on $3.31 million of total net sales for the three months
ended June 30, 2020.

For the six months ended June 30, 2021, the Company reported a net
loss of $516,593 on $6.85 million of total net sales compared to a
net loss of $1.51 million on $7.35 million of total net sales for
the same period during the prior year.

The Company currently and historically has reported net losses and
cash outflows from operations.  The Company anticipates that its
current cash, cash equivalent and cash generated from operations
will be sufficient to meet the projected operating expenses for the
foreseeable future through a year and a day from the issuance of
these unaudited condensed consolidated financial statements.

As of June 30, 2021, the Company had $37.95 million in total
assets, $5.96 million in total liabilities, and $31.99 million in
total stockholders' equity.

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/844856/000084485621000093/form10q.htm

                      About Healthier Choices

Headquartered in Hollywood, Florida, Healthier Choices Management
Corp. -- http://www.healthiercmc.com-- is a holding company
focused on providing consumers with healthier daily choices with
respect to nutrition and other lifestyle alternatives.

Healthier Choices reported a net loss of $3.72 million for the year
ended Dec. 31, 2020, compared to a net loss of $2.80 million for
the year ended Dec. 31, 2019.  As of March 31, 2021, the Company
had $13.99 million in total assets, $5.94 million in total
liabilities, and $8.05 million in total stockholders' equity.


HERITAGE RAIL: Trustee Selling SLRG 2210 Rail Car to Potch for $40K
-------------------------------------------------------------------
Tom Connolly, the Chapter 11 Trustee of Heritage Rail Leasing, LLC,
asks the U.S. Bankruptcy Court for the District of Colorado to
authorize him to sell SLRG 2210 (St. Croix), a rail car, to Potch,
LLC, for $40,000, subject to higher and better bids.

Heritage owns rail cars, locomotives, rolling stock and equipment
that it used in connection with its rail car leasing business.

The Trustee has continued to respond to inquiries from prospective
purchasers of Heritage's assets.  After considering available
options within the context of the current economic environment and
the status of Heritage's operations, the Trustee determined in his
business judgment to sell the SLRG 2210 to Potch under section 363
of the Bankruptcy Code, subject to higher and better bids.

After arms'-length negotiations, the Trustee negotiated a sale of
SLRG 2210 to Potch at a purchase price of $40,000 on the terms set
forth in the Motion and in the purchase agreement, subject to
higher and better bids.

Upon information and belief of the Trustee, SLRG 2210 is not
subject to any security interest, claim or lien, other than a
storage lien asserted by the trustee of San Luis and Rio Grande
Railroad, which the Trustee requests authority to pay from the
proceeds of the sale of SLRG 2210.  

The Trustee has investigated the fair market value of SLRG 2210 by
speaking with industry sources and persons familiar with SLRG 2210.
Based on this investigation, he has determined that the Potch
Purchase Price represents fair market value.  He now seeks
authority to further market-test the transaction contemplated by
the Purchase Agreement to obtain the highest or best offer for SLRG
2210.  

By the Motion, the Trustee seeks entry of an order (a) approving
the sale of SLRG 2210 free and clear of all liens, claims,
encumbrances, and interests, including (without limitation) those
of any affiliated entity of Heritage, if any, to either (i) Potch,
or (ii) the party who submits the highest or best bid, and (b)
finding the successful purchaser is a "good faith" purchaser under
Bankruptcy Code section 363(m).

The Trustee and Potch have negotiated the key terms of the sale of
SLRG 2210, and have executed the Purchase Agreement, which remains
subject to the Court's approval.

The material terms of the Purchase Agreement are as follows:
  
      a. The Potch Purchase Price for SLRG 2210 is $40,000.

      b. The Purchase Agreement is subject to, and will not become
effective, until it is approved in its entirety by final, written,
non-appealable Order of the Bankruptcy Court.

      c. Potch will accept SLRG 2210 at closing on an "as is, where
is" basis.

      d. The closing will occur on the first business day upon
which court approval provided in the Motion is effective and not
subject to a stay, or upon such other day upon which the parties
reasonably agree.

The Trustee requests that any order approving the sale of SLRG 2210
be effective immediately, thereby waiving the 14-day stay imposed
by Bankruptcy Rules 6004.  This waiver of the 14-day stay is
necessary for the sale of SLRG 2210 to close and the funding to be
received as expeditiously as possible.  The Trustee respectfully
submits that it is in the best interest of the Heritage estate to
close the sale of SLRG 2210 as soon as possible after all closing
conditions have been met or waived.  Accordingly, he requests that
the Court waives the 14-day stay.

A copy of the Agreement is available at
https://tinyurl.com/yhrzz8ws from PacerMonitor.com free of charge.

                   About Heritage Rail Leasing

Heritage Rail Leasing, LLC leases rail rolling stocks, locomotives
and track equipment.

On Aug. 21, 2020, Portland Vancouver Junction & Railroad Inc.,
Vizion Marketing LLC and D.L. Paradeau Marketing LLC filed a
Chapter 11 involuntary petition against Heritage Rail Leasing.
The
creditors are represented by Michael J. Pankow, Esq., at
Brownstein
Hyatt Farber Schreck, LLP.

Judge Thomas B. McNamara oversees the case.  

L&G Law Group LLP and Moglia Advisors serve as the Debtor's legal
counsel and restructuring advisor, respectively.  Alex Moglia of
Moglia Advisors is the Debtor's chief restructuring officer.

On Oct. 19, 2020, the Office of the U.S. Trustee appointed a
committee to represent unsecured creditors in the Debtor's Chapter
11 case.  The committee is represented by Goldstein & McClintock
LLLP and the Law Offices of Douglas T. Tabachnik, P.C.

On Oct. 28, 2020, the Court approved the appointment of Tom H.
Connolly as the Debtor's Chapter 11 trustee.  The trustee tapped
Brownstein Hyatt Farber Schreck, LLP as his counsel.



HIGHLAND CAPITAL: $9.75M Sale of Dallas Property to Stonelake OK'd
------------------------------------------------------------------
Judge Stacey G. C. Jernigan of the U.S. Bankruptcy Court for the
Northern District of Texas authorized Highland Capital Management,
L.P., to exercise its Management Rights to cause Maple Avenue
Holdings, LLC, to perform its obligations under and comply with the
terms of the Purchase Agreement, and consistent with the terms of
the Purchase Agreement, to sell the real property located at 2817
Maple Avenue, Dallas, Texas, together with all improvements thereon
(subject to the rights of the Tenant under the Lease, and all other
property (real, personal, or mixed) owned by the Seller relating to
the design, construction, ownership, use, leasing, maintenance or
operation of the land and improvements, and all rights, titles and
interests appurtenant to the foregoing, including, but not limited
to, adjacent streets, alleys, rights-of—way and any adjacent
strips and gores of real estate (if any), to Stonelake Capital
Holdings, LP for $9.75 million.

Notwithstanding the possible applicability of Bankruptcy Rule
6004(h), the Order will be immediately effective and enforceable
upon its entry.

The Debtor is authorized to take all actions necessary to
effectuate the relief granted in the Order in accordance with the
Motion and the Purchase Agreement.

The Court retains exclusive jurisdiction with respect to all
matters arising from or related to the implementation,
interpretation, and enforcement of the Order.

A copy of the Agreement is available at
https://tinyurl.com/dp9tcj27 from PacerMonitor.com free of charge.

                  About Highland Capital Management

Highland Capital Management LP was founded by James Dondero and
Mark Okada in Dallas in 1993. Highland Capital is the world's
largest non-bank buyer of leveraged loans in 2007. It also manages
collateralized loan obligations. In March 2007, it raised $1
billion to buy distressed loans.  Collateralized loan obligations
are created by bundling together loans and repackaging them into
new securities.

Highland Capital Management, L.P., sought Chapter 11 protection
(Bank. D. Del. Case No. 19-12239) on Oct. 16, 2019.  Highland was
estimated to have $100 million to $500 million in assets and
liabilities as of the bankruptcy filing.  

On Dec. 4, 2019, the case was transferred to the U.S. Bankruptcy
Court for the Northern District of Texas and was assigned a new
case number (Bank. N.D. Tex. Case No. 19-34054). Judge Stacey G.
C.
Jernigan is the case judge.

The Debtor's counsel is James E, O'Neill, Esq., at Pachulski Stang
Ziehl & Jones LLP. Foley & Lardner LLP, is special Texas counsel.
Kurtzman Carson Consultants LLC is the claims and noticing agent.
Development Specialists Inc. CEO Bradley Sharp is a financial
adviser and restructuring officer.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on Oct. 29, 2019. The committee tapped Sidley Austin LLP
as bankruptcy counsel; Young Conaway Stargatt & Taylor LLP as
co-counsel with Sidley Austin; and FTI Consulting, Inc., as
financial advisor.



HILTON GRAND: S&P Lowers ICR to 'B+' After Diamond Acquisition
--------------------------------------------------------------
S&P Global Ratings lowered the issuer credit rating on Hilton Grand
Vacations Inc. (HGV) to 'B+' as it indicated previously, from 'BB',
with a stable outlook to reflect the improving timeshare sales
environment.

S&P also lowered the issue-level rating on the revolving credit
facility to 'BB' as previously indicated to be in line with the
rating on the $1.3 billion senior secured term loan B.

The stable outlook reflects improving and better-than-anticipated
contract sales and EBITDA generation that mitigate the risk of a
further downgrade.

HGV has completed its acquisition of Diamond Resorts International
Inc. after issuing equity to Diamond's former stockholders and
refinancing existing debt at HGV and Diamond. Both companies also
reported second-quarter 2022 results and indicated the recovery
underway is sufficient for us to moderately improve our leverage
forecast.

The 'B+' rating reflects high pro forma leverage in 2021 and
potentially 2022, the significant funded debt assumed in the
Diamond acquisition, and potential operating variability during the
integration process. S&P forecasts high pro forma captive-adjusted
debt to EBITDA in the 6x-6.5x range in 2021, which it believes
could improve to the 4.5x-5.5x range in 2022 if travel and
timeshare sales recover as it assumes in its base case. Pro forma
leverage is high because HGV has raised incremental debt to
refinance Diamond's substantial corporate indebtedness and the
combined entity's operations are still recovering from the effects
of the pandemic. HGV's willingness to purchase a very highly
leveraged entity increases the burden on the path to recovery and
makes it more vulnerable to inadvertent operating missteps or
further delays in travel and economic recovery.

S&P said, "Our updated base case assumption is that pro forma 2021
total revenue (excluding cost reimbursements) can recover to 5%-10%
below 2019 levels, and near 2019 levels in 2022. We believe there
is pent-up demand for timeshares from which HGV will benefit. Data
released by the Department of Transportation in Hawaii, which
accounts for almost 20% of HGV's stand-alone (excluding Diamond)
timeshare inventory, show that total passenger count on flights to
the state exceeded same-period 2019 levels as of late July,
indicating visitation is experiencing a robust recovery. The
pent-up demand led by consumers with a strong propensity to travel
could enable HGV to upsell its existing owners by upgrading them to
higher-priced inventory, resulting in higher closing rates and
temporarily elevated volume per guest (VPG). Over time, as tour
flow recovers, we expect VPG to revert to levels experienced before
the pandemic.

"Our updated base case reflects the strong demand in visitation to
regional and select fly-to markets including Florida, Hawaii,
Midwest ski resorts, and Las Vegas. The visitation rebound in these
markets would support the ramp-up in sales activity at HGV's and
Diamond's healthy pipeline of new property developments, including
Los Cabos, Maui, Sesoko, Waikiki, and Pigeon Forge, with deeded
products potentially attracting strong demand because they tend to
be premium products. We assume our measure of captive-adjusted
EBITDA margin could be in the 16%-19% range in 2021 incorporating a
partial revenue recovery compared to 2019, and that margin could
recover to or slightly above 2019 levels by 2022 in the 18-21%
range.

"The stable outlook reflects improving and better-than-anticipated
contract sales that mitigate the risk of a further downgrade. In
our previous publication dated May 10, 2021, we stated that we
expected a negative rating outlook on HGV's 'B+' issuer credit
rating after the Diamond acquisition is completed. Instead, our
outlook on the rating is stable because the first and second
quarter performance at HGV and Diamond outperformed our
expectations, timeshare demand in 2021 continues to recover, and
these factors could result in 2022 leverage better than we expected
despite the delta variant and integration risks. We estimate that
HGV and Diamond's total net VOI sales through the first half of
2021 were 65%-70% of pro forma 2019 levels, and we believe the
recovery could be better in the second half of 2021. The stable
outlook reflects the risk of another downgrade from 'B+' has been
reduced."

The acquisition entails substantial integration risks. S&P assumes
that Diamond's system will require an investment of about $225
million by the company to align many of Diamond's resorts to
Hilton's brand standards. Diamond also operates a lower-priced,
points-based system, whereas HGV operates a mostly deeded timeshare
system, and S&P believes HGV will need to make a significant
investment to integrate the two product forms into the same sales
system. In addition, Diamond historically has had a higher
provision for loan losses due to a weaker credit profile and lower
satisfaction of its owner base, compared to HGV's higher-income
owner demographic.

HGV and Diamond differ in terms of customer demographics and
product form, and these differences will require management
attention and investment to integrate into the same platform. S&P
expects their two sales organizations will remain separate over the
near-term. HGV primarily offers an upper-upscale timeshare product
to an owner base with higher average household income. The product
is distributed through the widely recognized Hilton brand, which
has attracted the development of high-quality real estate in
popular resort locations such as Hawaii, Las Vegas, and New York.
HGV's legacy customer base also has much higher exposure to
Japanese customers, which contributes to the company's focus on
premium price points. HGV also has a track record of lower
provisioning for loan losses and loan portfolio default rates,
which we believe reflects its customer demographics. In comparison,
Diamond mostly offers a mix of destination and regional resort
locations to an owner base with lower average household income.
Diamond typically incurs a high provision for loan losses and
defaults have risen partly due to customer defaults induced by
third-party timeshare exit companies. S&P also believes the high
provisions may stem from Diamond's sales strategy, which typically
uses low down payment and deferred down payment products. Because
the products require little equity from the customer, they could
dampen the motivation for unsatisfied customers to continue their
payments.

In addition, HGV mostly offers a deeded timeshare product, which is
tied to specific resort locations and appeals to buyers who are
willing to pay a premium for availability in high-demand markets.
While they can generate a premium, deeded timeshare sales can be
volatile from year to year because they are closely tied to the
timing and ramp-up of new property developments. On the other hand,
Diamond offers a points-based product that is less tied to specific
resorts or usage time, which customers could prefer for the
flexibility to access a large resort portfolio. HGV could encounter
risks during the integration of the two sales organizations and
product forms, and it will have to balance talent retention and the
realization of cost synergies underwritten in the acquisition
price.

Despite the integration risks, the combined entity has greater
diversity and scale, and could recover in a manner that provides
more certainty for the restoration of credit metrics in line with
the 'B+' rating through 2022. The combined entity is the second
largest timeshare system, with a geographically diverse network of
resorts and locations that cater to a wider range of price points
and vacation settings, including ski resorts, beachfronts, urban
destinations, and the desert. The greater mix of drive-to regional
locations could translate into a quicker recovery compared to HGV
stand-alone, which has high sales exposure to destination
locations. S&P expects the combined entity to also generate a
greater share of cash flow from less volatile sources such as
resort management and financing income, which accounted for about
50% of pro forma consolidated EBITDA based on 2019 results.

Furthermore, the merger could result in revenue synergies over
time. S&P believes a key rationale of this transaction is for HGV
to acquire a substantial points-based timeshare system for future
development activity, which adds development flexibility beyond the
company's existing deeded product. Diamond's points-based product,
which typically has lower price points, will expand HGV's price
range and help it market to a wider base of Hilton Honors members,
particularly those who could be attracted to Diamond's product
compared to HGV's primarily upper upscale product. HGV can also
engage owners and leverage offerings to generate incremental fees
related to experiential programming, which has been popular at
Diamond under its Events of a Lifetime platform.

While HGV's and Diamond's captive finance subsidiaries could
experience higher losses in 2021, both had good leverage cushions
entering the COVID-19 pandemic. In 2020 and 2019, Diamond
experienced an annualized average monthly default rate of 22.1% and
18%, which were higher than HGV's comparable figures. The default
rate could remain elevated in 2021 and increase write-offs on
delinquent vacation ownership loans, which could result in a
moderate deterioration in the captive's debt-to-equity ratio. HGV
and Diamond ended 2020 with captive debt-to-equity ratios of 1.8x
and 2.3x, which are moderate, although we believe they could
modestly rise if default rates remain elevated. If default rates
increase materially and pro forma debt to equity is sustained above
5x, captive financial risk could rise enough to impair overall
financial risk. Higher default rates and financial risk at the
captive could also potentially result in more cash outlays, to the
extent the company chooses to support the credit quality of
securitized loans or opportunistically repurchases low-cost
timeshare inventory underlying any defaults.

S&P said, "Notwithstanding the risk factors, we do not currently
believe the captives would significantly hurt the parent's
financial risk in a manner that would lead to a downgrade. The
captives' debt-to-equity ratios currently have a cushion compared
to the 5x downgrade threshold. The companies can likely absorb some
deterioration in loan losses without impairing overall financial
risk. Depending on HGV's success at refining Diamond's sales and
underwriting practices, the combined entity could achieve lower
provisioning for loan losses and consumer loan portfolio default
rates over time that are closer to that of peer Travel + Leisure
Co. Furthermore, while annualized loan losses increased because of
the pandemic, these losses represent cyclical performance rather
than a fundamental shift in underwriting standards and therefore
may not trigger us to lower the rating solely based on this risk
factor. We also believe default rates will be helped by government
stimulus and loan deferral programs in at least for the next year
or two."

Apollo's continued ownership could be a risk factor over the next
several years. Financial sponsor Apollo has 28% ownership and two
board seats in the combined entity, which could become a financial
risk consideration over time if it seeks a negotiated exit from HGV
in a way that results in large share repurchases. S&P believes this
is a longer-term risk factor that may not affect near-term credit
metrics.

The stable outlook reflects improving and better-than-anticipated
contract sales and EBITDA generation that mitigate the risk of a
further downgrade. S&P's outlook also incorporates our view that
HGV could reduce leverage sufficiently over the coming quarters to
absorb potential operating variability due to the COVID delta
variant and integration of Diamond assets.

S&P said, "We could lower the ratings if VPG, tour flow, resort
occupancy, or its EBITDA margin are weaker than we previously
assumed and cause us to revise our base case for captive-adjusted
leverage to be sustained above 6.25x. We could also lower ratings
if risk in captive finance operations rises enough to impair the
parent's financial risk, which could occur if the captive's
adjusted debt to equity remains above 5x and loan losses in the
captive's portfolio increase materially.

"We could raise the rating if we believe COVID-19 containment and
the travel recovery are robust enough to enable HGV to maintain
captive-adjusted debt to EBITDA below 5.5x."



HOME POINT: Moody's Puts 'B1' CFR Under Review for Downgrade
------------------------------------------------------------
Moody's Investors Service has downgraded to B3 from B2 Home Point
Capital Inc.'s senior unsecured debt rating. Moody's has also
placed on review for downgrade Home Point's B1 corporate family
rating and its B3 senior unsecured debt rating. Home Point's
outlook is ratings under review. Moody's rating action followed the
release of Home Point's second quarter 2021 financial reporting.

Downgrades:

Issuer: Home Point Capital Inc.

Senior Unsecured Regular Bond/Debenture, Downgraded to B3 from B2;
Placed Under Review for further Downgrade

On Review for Downgrade:

Issuer: Home Point Capital Inc.

Corporate Family Rating, Placed on Review for Downgrade, currently
B1

Outlook Actions:

Issuer: Home Point Capital Inc.

Outlook, Changed To Ratings Under Review From Stable

RATINGS RATIONALE

Moody's said the downgrade of Home Point's senior unsecured debt
rating reflects an increase in the company's reliance on secured
debt, and accordingly a worsening of the long-term unsecured debt's
subordination in Home Point's capital structure. Moody's said the
review for downgrade on Home Point's CFR and senior unsecured debt
rating was prompted by a stark and idiosyncratic worsening of Home
Point's capitalization and profitability. During the review for
downgrade, Moody's will assess the magnitude of credit risk
associated with Home Point's decline in capitalization and
profitability, including assessing the likelihood that the company
will be able to reverse these declines and return to profitable
growth and increased capitalization in a challenging environment of
rising interest rates and increased competition. Moody's also will
assess developments in the Home Point's financial policy and
business strategy.

Moody's said that Home Point's second quarter 2021 results indicate
that its earning capacity may have diminished, with a significant
decline in reported gain-on-sale margins and evidence of
increasingly intense competition in the wholesale origination
channel, through which the company originates the majority of its
mortgages. Moody's said these factors have contributed to increased
uncertainty about the company's ability to rebuild its capital
levels over the next 12-18 months.

Home Point's capitalization, as measured by tangible common equity
to adjusted tangible managed assets (which excludes Ginnie Mae
delinquent loans from the denominator), declined to 9.5% in the
second quarter of 2021 from 10.7% in the first quarter of 2021 and
18.9% as of year-end 2020, reducing the company's ability to absorb
unexpected losses. The decline was driven by a net loss in the
second quarter, the growth of the company's balance sheet, as well
as a large shareholder distribution in the first quarter related to
the company's initial public offering.

The company's return on assets declined to -3.5% in the second
quarter of 2021 (reflecting a $73 million net loss), from 7.4% in
the first quarter of 2021, and 11.9% for 2020, when Home Point
reported extraordinary levels of profitability driven by
exceptionally strong origination volumes and gain-on-sale margins.
The decline in the company's profitability was driven by a
significant reduction in gain-on-sale margins, which decreased to
58 basis points (bps) in the second quarter of 2021 from 147 bps in
the first quarter of 2021, and included approximately $33 million
of adjustments largely related to agency pricing and product
actions. The decline in profitability was also driven by
significant competition in the wholesale origination channel,
through which the company originated 72% of its loans in the second
quarter of 2021, as well as a reduction in the mark-to-market fair
value of the company's mortgage servicing rights (MSR) portfolio.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

Moody's said Home Point's ratings are unlikely to be upgraded given
that the ratings are on review for downgrade. The ratings could be
confirmed at their existing levels and Home Point's outlook
returned to stable if Moody's expects the company's efforts to
de-lever and improve its profitability to be successful.
Furthermore, the senior unsecured rating could be confirmed if the
company reduces its reliance on secured debt, whereby secured debt
as a portion of total corporate debt decreases and is expected to
remain below 45%.

Moody's said Home Point's ratings could be downgraded if its
capitalization, as measured by tangible common equity to adjusted
tangible managed assets, is expected to remain below 13.5% or if
its profitability, as measured by net income to assets, is expected
to remain below 1.5%, or if the company's liquidity position
weakens. Disclosure of a material operating weakness would also be
viewed unfavorably.

The principal methodology used in these ratings was Finance
Companies Methodology published in November 2019.


HOMES BY KC: Chaz Coggins Buying Property in Atlanta for $290K
--------------------------------------------------------------
Homes by KC, LLC, asks the U.S. Bankruptcy Court for the Northern
District of Georgia to authorize the sale of the real property
located at 1373 Benteen Way SE, in Atlanta, Georgia 30315, to Chaz
Coggins for $290,000.

The Debtor owns the Property.

There is one mortgage lien on the property, which is held by ABS
Loan Trust IV, US Bank Trust National Association, as Trustee.  The
Secured Creditor's approximate payoff as of June 21, 2021, was
$153,320.51.  

There are no other creditors asserting liens on the Property.

The Debtor requests entry of an order authorizing it to sell the
Property on the terms set forth in the Purchase Agreement free and
clear of liens, claims, and encumbrances, with all liens or
security interests of the Secured Creditor attaching to the
proceeds of the sale.

As shown in the Purchase Agreement, the Debtor proposes to sell the
Property for $290,000.  It submits that the proposed purchase price
amounts to fair market value for the Property.  The closing is
scheduled for Aug. 24, 2021.  

The Debtor has determined that selling the Property pursuant to the
Purchase Agreement is in the best interests of the estate and its
creditors.

Finally, the Debtor requests that the order granting the Motion be
effective immediately by providing that the 14-day stays applicable
under Rule 6004(h) of the Bankruptcy Rules be waived.  

A copy of the Agreement is available at
https://tinyurl.com/4avny3bv from PacerMonitor.com free of charge.

                         About Homes By KC

Homes By KC, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ga. Case No. 20-63784) on March 2,
2020.  At the time of the filing, the Debtor had between $100,001
and $500,000 in both assets and liabilities.  Judge James R. Sacca
oversees the case.  Rountree, Leitman & Klein, LLC is the Debtor's
legal counsel.



HOMES BY KC: Seeks Aug. 17 Hearing on Sale of Atlanta Property
--------------------------------------------------------------
Homes by KC, LLC, asks the U.S. Bankruptcy Court for the Northern
District of Georgia for an expedited hearing on its proposed sale
of the real property located at 1373 Benteen Way SE, in Atlanta,
Georgia 30315, to Chaz Coggins for $290,000.

On Aug. 6, 2021, the Debtor filed an Emergency Motion to Sell Real
Property.  In the Motion to Sell, it submits that it has a Purchase
Agreement to sell the Property for $290,000.  The Debtor submits
that the proposed purchase price amounts to fair market value for
the Property and that selling the Property pursuant to the Purchase
Agreement is in the best interests of the estate and its creditors.
Indeed, the Debtor believes the sale proceeds will be sufficient
to pay all secured and unsecured creditors in full.  

The closing is scheduled for Aug. 24, 2021.

Accordingly, the Debtor requests that an expedited hearing on the
Motion to Sell be set on the Court's Aug. 17, 2021 calendar, or as
soon as reasonably possible before Aug. 24, 2021.

                         About Homes By KC

Homes By KC, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ga. Case No. 20-63784) on March 2,
2020.  At the time of the filing, the Debtor had between $100,001
and $500,000 in both assets and liabilities.  Judge James R. Sacca
oversees the case.  Rountree, Leitman & Klein, LLC is the Debtor's
legal counsel.



HUSKY ENERGY: Egan-Jones Keeps 'B' LC Senior Unsecured Ratings
--------------------------------------------------------------
Egan-Jones Ratings Company, on July 26, 2021, withdrew its 'B'
local currency senior unsecured ratings on debt issued by Husky
Energy Inc. EJR also withdrew its 'B' rating on commercial paper
issued by the Company.

Headquartered in Calgary, Canada, Husky Energy Inc. is involved in
the exploration, development, and production of crude oil and
natural gas in Canada and in international areas.



HYDROCARBON FLOW: Seeks to Hire Wright Moore as Accountant
----------------------------------------------------------
The Hydrocarbon Flow Specialist, Inc. and its affiliates seek
approval from the U.S. Bankruptcy Court for the Western District of
Louisiana to employ Wright, Moore, DeHart, Dupuis & Hutchinson, LLC
to prepare tax returns and related tax materials.

The firm's hourly rates are as follows:

     Partners                         $200 - $300 per hour
     Managers / Associates            $100 - $185 per hour
     Senior Accountants               $80 - $120 per hour
     Junior Accountants               $70 - $85 per hour
     Administrative/Clerical Support  $40 - $45 per hour

Lance Crappell, a certified public accountant at Wright Moore,
disclosed in a court filing that his firm does not represent an
interest adverse to the Debtors.

The firm can be reached through:

     Lance E. Crappell, CPA, CGMA
     Wright, Moore, DeHart, Dupuis & Hutchinson, LLC
     100 Petroleum Dr.
     Lafayette, LA 70508
     Phone: +1 337-232-3637

               About The HydroCarbon Flow Specialist

Patterson, La.-based The HydroCarbon Flow Specialist, Inc. and its
affiliates filed voluntary petitions for relief under Chapter 11 of
the Bankruptcy Code (Bankr. W.D. La. Lead Case No. 21-50420) on
July 7,  2021.  Owen T. Risher, registered agent and director,
signed the petition.  At the time of the filing, HydroCarbon Flow
Specialist disclosed $100,000 to $500,000 in assets and $10 million
to $50 million in liabilities.  

Judge John W. Kolwe oversees the cases.  

Gold, Weems, Bruser, Sues & Rundell and Wright, Moore, DeHart,
Dupuis & Hutchinson, LLC serve as the Debtors' legal counsel and
accountant, respectively.


INGRAM MICRO: Moody's Withdraws Ba1 CFR on Platinum Equity Buyout
-----------------------------------------------------------------
Moody's Investors Service withdrew all ratings for Ingram Micro
Inc., including the Ba1 corporate family rating and Ba1 Senior
Unsecured rating following the closing of the acquisition by funds
of Platinum Equity. The outlook for Ingram Micro has been changed
to ratings withdrawn from rating under review. This action
concludes Moody's review initiated on December 10, 2020 when
Moody's placed Ingram Micro's ratings on review following the
announcement that Ingram Micro entered into an agreement to be
acquired by Platinum Equity resulting in a largely debt-funded $7.2
billion buyout. Ingram Micro's unsecured notes were repaid as a
result of the completion of its sale to Platinum Equity.

Withdrawals:

Issuer: Ingram Micro Inc (old)

Senior Unsecured Regular Bond/Debenture, Withdrawn , previously
rated Ba1 (LGD4)

Issuer: Ingram Micro Inc.

Probability of Default Rating, Withdrawn , previously rated
Ba1-PD

Corporate Family Rating, Withdrawn , previously rated Ba1

Outlook Actions:

Issuer: Ingram Micro Inc (old)

Outlook, Changed To Rating Withdrawn From No Outlook

Issuer: Ingram Micro Inc.

Outlook, Changed To Rating Withdrawn From Rating Under Review

RATINGS RATIONALE

Moody's withdrew ratings for Ingram Micro given senior unsecured
notes were repaid with cash proceeds from the buyout by Platinum
Equity. The withdrawal of Ingram Micro's CFR and Senior Unsecured
rating reflects the fact that Ingram Micro Inc. (New) is now the
consolidating and reporting entity post-buyout. Moody's assigned a
Ba3 CFR, Ba3-PD PDR, and B1 Senior Secured rating to Ingram Micro
Inc. (New) in March 2021 ahead of the closing of the acquisition.

Ingram Micro is one of the largest global information technology
wholesale distributors providing sales, marketing, and supply chain
solutions. The company operates in more than 50 countries and
offers various IT products, including peripherals, systems,
networking, software, logistics, data capture, point-of-sale, and
high-end home technology products, mostly focused on the small and
medium size business market.


INSPIREMD INC: Incurs $3.5 Million Net Loss in Second Quarter
-------------------------------------------------------------
InspireMD, Inc. filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q disclosing a net loss of $3.51
million on $1.04 million of revenues for the three months ended
June 30, 2021, compared to a net loss of $2.48 million on $313,000
of revenues for the three months ended June 30, 2020.

For the six months ended June 30, 2021, the Company reported a net
loss of $6.75 million on $2.04 million of revenues compared to a
net loss of $4.46 million on $1.35 million of revenues for the same
period during the prior year.

As of June 30, 2021, the Company had $46.38 million in total
assets, $5.55 million in total liabilities, and $40.83 million in
total equity.

InspireMD stated, "As of June 30, 2021, we have the ability to fund
our planned operations for at least the next 12 months from
issuance date of the financial statement.  However, we expect to
continue incurring losses and negative cash flows from operations
until our products (primarily CGuard EPS) reach commercial
profitability. Therefore, in order to fund our operations until
such time that we can generate substantial revenues, we may need to
raise additional funds."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1433607/000149315221019036/form10-q.htm

                       About InspireMD Inc.

Headquartered in Tel Aviv, Israel, InspireMD --
http://www.inspiremd.com-- is a medical device company focusing on
the development and commercialization of its proprietary MicroNet
stent platform technology for the treatment of complex vascular and
coronary disease.  A stent is an expandable "scaffold-like" device,
usually constructed of a metallic material, that is inserted into
an artery to expand the inside passage and improve blood flow. Its
MicroNet, a micron mesh sleeve, is wrapped over a stent to provide
embolic protection in stenting procedures.

InspireMD reported a net loss of $10.54 million for the year ended
Dec. 31, 2020, compared to a net loss of $10.04 million for the
year ended Dec. 31, 2019.  As of March 31, 2021, the Company had
$48.63 million in total assets, $4.68 million in total liabilities,
and $43.95 million in total equity.


INTELSAT SA: Plan Faces DOJ Opposition on Releases, Management Pay
------------------------------------------------------------------
Daniel Gill of Bloomberg Law reports that satellite operator
Intelsat SA's failure to fully explain management incentive
compensation and procedures to release some third parties from
liability should stop its Chapter 11 plan from advancing for a
creditor vote, the Justice Department's bankruptcy watchdog said.

Luxembourg-based Intelsat's disclosure statement doesn't identify
what management employees would receive company equity as incentive
or what the equity's worth, the U.S. Trustee said in an Aug. 6,
2021 filing in the U.S. Bankruptcy Court for the Eastern District
of Virginia.

The reorganization plan's terms to release non-debtor third parties
from further liability related to the case are also inappropriate,
the trustee said.

The U.S. Trustee submits that the third-party release provisions
are impermissible as a
matter of law under applicable Fourth Circuit case law.  To the
extent the Court is inclined to allow releases by consent alone,
the UST requests that the Court follow those courts that require
strict evidence of actual consent by the affected parties.

The hearing on the Disclosure Statement and Solicitation Procedures
Motion is currently scheduled for Aug. 26, 2021.

                      About Intelsat S.A.

Intelsat S.A. -- http://www.intelsat.com/-- is a publicly held
operator of satellite services businesses, which provides a diverse
array of communications services to a wide variety of clients,
including media companies, telecommunication operators, internet
service providers, and data networking service providers. It is
also a provider of commercial satellite communication services to
the U.S. government and other select military organizations and
their contractors. The company's administrative headquarters are in
McLean, Virginia, and the Company has extensive operations spanning
across the United States, Europe, South America, Africa, the Middle
East, and Asia.

Intelsat S.A. and its debtor-affiliates concurrently filed
voluntary petitions for relief under Chapter 11 of the Bankruptcy
Code (Bankr. E.D. Va. Lead Case No. 20-32299) on May 13, 2020. The
petitions were signed by David Tolley, executive vice president,
chief financial officer, and co-chief restructuring officer. At the
time of the filing, the Debtors disclosed total assets of
$11,651,558,000 and total liabilities of $16,805,844,000 as of
April 1, 2020.

Judge Keith L. Phillips oversees the cases.

The Debtors tapped Kirkland & Ellis LLP and Kutak Rock LLP as legal
counsel; Alvarez & Marsal North America, LLC as restructuring
advisor; PJT Partners LP as financial advisor & investment banker;
Deloitte LLP as tax advisor; and Deloitte Financial Advisory
Services LLP as fresh start accounting services provider. Stretto
is the claims and noticing agent.

The U.S. Trustee for Region 4 appointed an official committee of
unsecured creditors on May 27, 2020. The committee tapped Milbank
LLP and Hunton Andrews Kurth LLP as legal counsel; FTI Consulting,
Inc. as financial advisor; Moelis & Company LLC as investment
banker; Bonn Steichen & Partners as special counsel; and Prime
Clerk LLC as information agent.



INTELSAT SA: Timeline to File Supplement Insufficient, UST Says
---------------------------------------------------------------
John P. Fitzgerald, III, Acting United States Trustee for Region 4,
filed an amended objection to the Disclosure Statement of Intelsat
S.A. and its affiliated debtors, as well as to the Debtors' Motion
for Entry of an Order Approving the Adequacy of the Disclosure
Statement, Approving the Solicitation Procedures with Respect to
Confirmation of the Debtors' Proposed Chapter 11 Plan, and
Approving the Forms of Ballots and Related Notices.

The U.S. Trustee complained that:

  a. The proposed timeline for the filing of the Plan Supplement
violates the notice and due process requirements of Bankruptcy
Rules 2002(b)(1).

According to the U.S. Trustee, the proposed schedule provides that
the Plan Supplement will only be on file for three total days, and
only one business day, before the deadline to vote or object,
which, he said, is insufficient.  The Debtors should be required to
file the Plan Supplement at least 10 days before the deadline to
vote on or object to the Plan.

  b. Classes where creditors fail to cast any vote should not be
deemed to have accepted the Plan.

Article XI.D of the Disclosure Statement provides in part that if a
Class contains Holders of Claims or Interests eligible to vote and
no Holders of Claims or Interests eligible to vote in such Class
vote to accept or reject the Plan, the Plan shall be presumed
accepted by the Holders of such Claims or Interests in such class.
According to the U.S. Trustee, this provision runs afoul of Section
1126(c), which provides that a class of claims has accepted the
plan if the plan has been accepted by creditors that hold at least
two-thirds in amount and more than one-half in number of the
allowed claims of such class held by creditors.

  c. The Disclosure Statement contains insufficient information
about the Management Incentive Plan ("MIP") to determine whether it
is in violation of Section 503(c) of the Bankruptcy Code.

While the Plan and Disclosure Statement mention the adoption of the
MIP, no details of the MIP or the MIP Term Sheet is provided in the
Disclosure Statement, complained the U.S. Trustee.  He noted that
missing information includes (i) whether the MIP has already been
adopted by the current Board of Directors or will be adopted at the
discretion of the New Board of Directors, (ii) the identity,
titles, and "insider" status of the management employees who will
receive the MIP Equity, (ii) the value of the MIP Equity, (iii) the
time-based vesting criteria, (iv) the performance-based vesting
criteria, and (v) the final terms of the MIP.  Moreover, there is
no clarity as to whether the board of the Reorganized Debtors is
constituted by the members of the present board or whether the
present board is really the one proposing and implementing the MIP,
he said.

  d. The third-party releases and the exculpation provisions in the
Disclosure Statement and Plan do not satisfy Sections 1129(a)(1)
and 1129(a)(3) of the Bankruptcy Code and the proposed Solicitation
Procedures do not render such provisions consensual.

The U.S. Trustee averred that the Debtors have not demonstrated the
appropriateness of the provisions for the release and exculpation
of various non-debtor parties by other non-debtor parties contained
in the Disclosure Statement and Plan.  He added that the
Solicitation Procedures Motion proposes procedures that do not
guarantee adequate notice to affected third parties and do not
render the third-party releases fully consensual.

For these reasons, the Disclosure Statement and Solicitation
Procedures Motion should not be approved in their current form, the
U.S. Trustee told the Bankruptcy Court.

A copy of the objection is available for free at
https://bit.ly/3Cvsyc6 from Stretto, claims and noticing agent.

Counsel for John P. Fitzgerald III, Acting United States Trustee
for Region 4:

   B. Webb King, Esq.
   Office of the United States Trustee
   210 First Street, Suite 505
   Roanoke, VA 24011
   Telephone: (540) 857-2806
   Facsimile: (540) 857-2844


                        About Intelsat S.A.

Intelsat S.A. -- http://www.intelsat.com/-- is a publicly held
operator of satellite services businesses, which provides a diverse
array of communications services to a wide variety of clients,
including media companies, telecommunication operators, internet
service providers, and data networking service providers. It is
also a provider of commercial satellite communication services to
the U.S. government and other select military organizations and
their contractors.  The company's administrative headquarters are
in McLean, Virginia, and the Company has extensive operations
spanning across the United States, Europe, South America, Africa,
the Middle East, and Asia.

Intelsat S.A. and its debtor-affiliates concurrently filed
voluntary petitions for relief under Chapter 11 of the Bankruptcy
Code (Bankr. E.D. Va. Lead Case No. 20-32299) on May 13, 2020.  The
petitions were signed by David Tolley, executive vice president,
chief financial officer, and co-chief restructuring officer. At the
time of the filing, the Debtors disclosed total assets of
$11,651,558,000 and total liabilities of $16,805,844,000 as of
April 1, 2020.

Judge Keith L. Phillips oversees the cases.

The Debtors tapped Kirkland & Ellis LLP and Kutak Rock LLP as legal
counsel; Alvarez & Marsal North America, LLC as restructuring
advisor; PJT Partners LP as financial advisor & investment banker;
Deloitte LLP as tax advisor; and Deloitte Financial Advisory
Services LLP as fresh start accounting services provider. Stretto
is the claims and noticing agent.

The U.S. Trustee for Region 4 appointed an official committee of
unsecured creditors on May 27, 2020. The committee tapped Milbank
LLP and Hunton Andrews Kurth LLP as legal counsel; FTI Consulting,
Inc. as financial advisor; Moelis & Company LLC as investment
banker; Bonn Steichen & Partners as special counsel; and Prime
Clerk LLC as information agent.



J.S. CATES CONTRUCTION: Seeks Access to Cash Collateral
-------------------------------------------------------
J.S. Cates Construction, Inc. asks the U.S. Bankruptcy Court for
the District of Minnesota for authority to continue using cash
collateral and for other related relief through the date of plan
confirmation.

The Court will hold a hearing on the matter telephonically on
August 25, 2021 at 10:30 a.m.

The Debtor requires continued use of cash collateral so it can
propose a plan of reorganization and obtain plan confirmation.

The Court previously issued a final order authorizing the use of
cash collateral on June 10, 2021, which will expire on August 20.
The bankruptcy court approved an extension to the deadline for the
Debtor to file its subchapter V plan of reorganization to September
15, 2021, with a confirmation hearing scheduled for November 10.

The Debtor related that only CoreTrust Bank NA,
successor-in-interest to First Minnesota Bank, has an apparent lien
in the cash collateral asset among creditors with purported liens
on any of the Debtor's collateral.  As of the Petition Date, the
Debtor owes CoreTrust $581,359 for loans extended pre-petition.

As of the petition date, the Debtor has cash collateral assets with
a value of approximately $847,974. CoreTrust only has perfected
security interest in, primarily, the accounts receivable, or
approximately $450,000 of the cash collateral. The Debtor projects
that the value of cash collateral as of the hearing will be
approximately $787,427, and otherwise will increase each month to a
value at the end of October 2021 in excess of its petition-date
value.

In consideration for the use of cash collateral, the Debtor
proposed to:

   * grant CoreTrust a replacement lien or a security interest in
any new assets, materials, and accounts receivable, generated from
the use of cash collateral, with the same priority, dignity, and
validity of prepetition liens or security interests, to the extent
of diminution in the value of its cash collateral as of the
Petition Date;

   * grant CoreTrust an additional replacement lien against the
Debtors real property to the extent that the replacement liens are
insufficient to protect CoreTrust against diminution of its cash
collateral;  

   * maintain insurance on all the property in which CoreTrust
claims a security interest;

   * pay all post-petition federal and state taxes, including
timely deposit of payroll taxes;

   * provide CoreTrust access during normal business hours for
inspection of their collateral and the Debtor's business records;
and

   * deposit all cash proceeds and income into the DIP account.

A copy of the motion and the Debtor's budget from May to October
2021 is available for free at https://bit.ly/3AwsTcH from
PacerMonitor.com.

The Debtor projects $68,000 in total cash source and $47,003 in
total use of cash for August.

                   About J.S. Cates Construction

J.S. Cates Construction, Inc., f/d/b/a J.S. Cates Companies, filed
a Chapter 11 petition (Bankr. D. Minn. Case No. 21-40881) on May
17, 2021 in the U.S. Bankruptcy Court for the District of
Minnesota.

As of the Petition Date, the Debtor disclosed $1,153,474 in total
assets and $1,767,454 in estimated liabilities.

Judge Kathleen H. Sanberg is assigned to the case.  LARKIN HOFFMAN
DALY & LINDGREN LTD is the Debtor's counsel.  The petition was
signed by Jeffrey S. Cates, president & CEO.



JAKKS PACIFIC: Incurs $15.1 Million Net Loss in Second Quarter
--------------------------------------------------------------
JAKKS Pacific, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $15.06 million on $112.35 million of net sales for the three
months ended June 30, 2021, compared to a net loss of $23.27
million on $78.76 million of net sales for the three months ended
June 30, 2020.

For the six months ended June 30, 2021, the Company reported a net
loss of $39.11 million on $196.20 million of net sales compared to
a net loss of $35.27 million on $145.32 million of net sales for
the six months ended June 30, 2020.

As of June 30, 2021, the Company had $315.13 million in total
assets, $318.77 million in total liabilities, $2.40 million in
preferred stock, and a total stockholders' deficit of $6.04
million.

The Company stated, "The full impact of the COVID-19 outbreak
continues to evolve as of the date of this report.  As such, it is
uncertain as to the full magnitude that the pandemic will have on
the Company's financial condition, liquidity, and future results of
operations.  Management is actively monitoring the global situation
and the resulting impact on its financial condition, liquidity,
operations, suppliers, industry, and workforce.  Given the daily
evolution of the COVID-19 outbreak and the global responses to curb
its spread, the Company is unable to estimate the effects of the
COVID-19 outbreak on its results of operations, financial
condition, and liquidity for fiscal years 2021 and 2022."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1009829/000118518521001073/jakkspacif20210630_10q.htm

                        About Jakks Pacific

JAKKS Pacific, Inc. -- www.jakks.com -- is a designer, manufacturer
and marketer of toys and consumer products sold throughout the
world, with its headquarters in Santa Monica, California. JAKKS
Pacific's popular proprietary brands include Fly Wheels, Kitten
Catfe, Perfectly Cute, ReDo Skateboard Co, X-Power, Disguise, Moose
Mountain, Maui, Kids Only!; a wide range of entertainment-inspired
products featuring premier licensed properties; and C'est Moi, a
new generation of clean beauty.

Jakks Pacific reported a net loss of $14.14 million for the year
ended Dec. 31, 2020, compared to a net loss of $55.38 million for
the year ended Dec. 31, 2019.  As of March 31, 2021, the Company
had $298.41 million in total assets, $301.99 million in total
liabilities, $2.07 million in preferred stock, and a total
stockholders' deficit of $5.65 million.

Los Angeles, California-based BDO USA, LLP, the Company's auditor
since 2006, included a "going concern" paragraph in its report
dated March 19, 2021, citing that the Company's primary sources of
working capital are cash flows from operations and borrowings under
its credit facility.  The Company's cash flows from operations are
primarily impacted by the Company's sales, which are seasonal, and
any change in timing or amount of sales may impact the Company's
operating cash flows.  The Company owes $124.5 million on its term
loan and has borrowing capacity under its credit facility of $37.3
million as of Dec. 31, 2020.  During 2020, the Company reached an
agreement with its holders of its term loan and the holder of its
revolving credit facility, to amend the New Term Loan Agreement and
defer the Company's EBITDA covenant requirement until March 31,
2022 and reduced the trailing 12-month EBITDA requirement to $25.0
million.  Based on the Company's operating plan, management
believes that the current working capital combined with expected
operating and financing cashflows to be sufficient to fund the
Company's operations and satisfy the Company's obligations as they
come due for at least one year from the financial statement
issuance date.


JCK LEGACY: Egan-Jones Withdraws C Senior Unsecured Ratings
-----------------------------------------------------------
Egan-Jones Ratings Company, on July 27, 2021, withdrew its 'C'
foreign currency and local currency senior unsecured ratings on
debt issued by JCK Legacy Company.

Headquartered in Sacramento, California, JCK Legacy Company
publishes daily and non-daily newspapers located in western coastal
states, North and South Carolina, and Minnesota.



JET REAL ESTATE: Says Offers for Property to Pay Claims in Full
---------------------------------------------------------------
Jet Real Estate Group, LLC, submitted a motion to extend the time
to file and confirm its Plan of Reorganization.

Here, the Debtor's ability to confirm a Chapter 11 plan of
reorganization, which will be a liquidity plan, is directly
correlated with its ability to successfully sell or finance the
Property.  As the record in this case demonstrates, the Property's
value remains strong and has attracted sufficient interest from
potential buyers/financers to pay off all creditors' allowed claims
in full. Thus far, Debtor has presented the Court with six offers
on the Property, each of which would pay creditors 100% of their
allowed claims. Collectively, these offers constitute undisputed
evidence of the Property's value and of the Debtor's ability to use
the Property's resulting cash proceeds to successfully reorganize.

While Zambon has taken longer than expected to close escrow, Debtor
has every expectation that he will close. Per the Sale Agreement,
Zambon has tendered his $20,000.00 escrow fee, he has, at all
times, expressed an intention to close escrow, and he has
judiciously pursued favorable construction bids, an undertaking
indicative of his intent to close on the Property and construct a
residence on it. Zambon is an executive at Bank of California with
a sophisticated knowledge of the real estate market, and he would
not have come this far if he didn't intend to close. And so long as
Zambon closes, Debtor will successfully reorganize.

The only variable affecting the timing of plan confirmation in this
case is the Property closing timeline. While Debtor expects Zambon
to close in August, a September or October close, followed by a
quick confirmation, would not unduly prejudice creditors, who would
still receive 100% of their allowed claims, even in the unlikely
event the Zambon Sale falls through and Debtor accepts an offer on
par with the weakest one it submitted to the Court, for $1.3
million. As such, a November or December confirmation date would
still constitute a "reasonable" timeframe within the meaning of
Section 1121(e)(3). Given that November/December is on the later
side of an estimated confirmation but still remains "reasonable"
from the perspective of creditors, it is more likely than not that
the Court will confirm Debtor's post-closing liquidity plan within
a reasonable period of time.

Via this herein Motion and the evidence already on the record and
before the
Court, Debtor has established, by a preponderance of evidence, that
the Court is more likely than not to confirm a plan of
reorganization within a reasonable period of time. Debtor has
submitted and scheduled a hearing on this Motion well within the
statutory 300-day plan filing deadline, and it has proposed new
filing and confirmation deadlines for the Court to impose. As such,
Debtor has met all requirements for obtaining an extension to both
file and confirm its plan of reorganization under Bankruptcy Code
Section 1121(e)(3). Debtor respectfully requests that the Court
enter an order that:

  (1) Extends the deadline under which Debtor may file its plan of
reorganization, and, if necessary, disclosure statement, from
September 7, 2021 to November 8, 2021, and;

  (2) Extends the period under which Debtor may confirm its filed
plan of reorganization from 45 days to 60 days.

Attorney for the Debtor:

     BENJAMIN M. CARSON
     LAW OFFICES OF BENJAMIN M. CARSON, P.C.
     8861 Villa La Jolla Drive #13105
     La Jolla, CA 92038
     TEL: 858.255.4529

                About Jet Real Estate Group

Jet Real Estate Group, LLC's primary asset is its property located
at 12994 Via Esperia, Del Mar, CA, 92014.

Jet Real Estate Group sought protection for relief under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Cal. Case No. 20-05584) on Nov.
11, 2020, listing under $1 million in both assets and liabilities.
Benjamin Carson at Benjamin Carson Law Office serves as the
Debtor's counsel.


JOHN DAUGHERTY: Wins Conditional Approval of Disclosure Statement
-----------------------------------------------------------------
Judge Christopher M. Lopez of the U.S. Bankruptcy Court for the
Southern District of Texas tentatively and conditionally approved
the Disclosure Statement of John Daugherty Real Estate, Inc.

Judge Lopez has set the deadline for filing and serving written
objections to the Disclosure Statement and Plan on September 7,
2021 at 5 p.m., (CT).  September 7 at 5 p.m. (CT) also is the
deadline for filing acceptances or rejections of the Plan.
Completed Ballots should be transmitted to counsel for the Official
Committee of Unsecured Creditors via email, facsimile or via US
Mail at the following address:

   Melissa A. Haselden, Esq.
   Haselden Farrow PLLC
   700 Milam, Suite 1300
   Pennzoil Place
   Houston, TX 77002
   Facsimile: (866) 405-6038
   Email: mhaselden@haseldenfarrow.com

September 9, 2021 at 11 a.m. is set for the hearing to consider
confirmation of the Plan and final approval of the Disclosure
Statement.  The hearing will be by audio and video connection
only.

A copy of the order is available for free at https://bit.ly/3fTKkMt
from PacerMonitor.com.


                 About John Daugherty Real Estate

John Daugherty Real Estate, Inc. -- https://www.johndaugherty.com/
-- is a licensed real estate broker in Houston, Texas.  It sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.
Tex. Case No. 20-31293) on February 27, 2020. The petition was
signed by John A. Daugherty, Jr., its chief executive officer. 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.

Hon. Christopher M. Lopez oversees the case.

The Debtor hired Nathan Sommers Jacobs, a professional corporation,
as its counsel.



KNOLL INC: Egan-Jones Withdraws BB- Senior Unsecured Ratings
------------------------------------------------------------
Egan-Jones Ratings Company, on July 28, 2021, withdrew its 'BB-'
foreign currency and local currency senior unsecured ratings on
debt issued by Knoll, Inc.

Headquartered in East Greenville, Pennsylvania, Knoll, Inc. designs
and manufactures branded office furniture products and textiles.



M/I HOMES: Fitch Assigns BB Rating on $300MM Senior Notes
---------------------------------------------------------
Fitch Ratings has assigned a 'BB'/'RR4' rating to M/I Homes, Inc.'s
(NYSE: MHO) offering of $300 million senior notes due 2030. The
notes will rank pari passu with all other senior unsecured debt.
The company intends to use a portion of the net proceeds from the
notes offering to redeem all of its $250 million 5.625% senior
notes due 2025. The Rating Outlook is Stable.

KEY RATING DRIVERS

Improved Credit Metrics: MHO's homebuilding net debt/capitalization
ratio (excluding $40 million of cash classified by Fitch as not
readily available for working capital) has fallen to 17.7% as of
June 30, 2021, down from 25.6% at Dec. 31, 2020, 38.3% at YE 2019,
and 44.0% at YE 2018. Debt/EBITDA has consistently been at or below
4.0x since 2016 and was 2.0x during 2020. FFO interest coverage was
5.6x for the YE Dec. 31, 2020. Fitch expects net
debt/capitalization will remain below 30% through 2022 and total
debt to operating EBITDA will remain around or below 2.0x, both of
which are strong for the 'BB' IDR.

Land Strategy: As of June 30, 2021, MHO controlled 44,040 lots, of
which 41.5% were owned (down from 42.8% last year) and the
remaining lots controlled through options. Based on LTM closings,
MHO controlled 5.1 years of land and owned roughly 2.1 years of
land. MHO has one of the highest percentages of lots under option
and one of the lowest owned-lot positions among the builders in
Fitch's coverage. This strategy reduces the risk of downside
volatility and impairment charges in a contracting housing market.

Land and Development Spending: MHO has meaningfully increased
spending to acquire and develop land in recent years to keep pace
with strong housing demand. The company spent $733.3 million on
land and development activities in 2020 and $400.2 million during
1H21. Fitch expects land and development spending will be higher in
2021 as the company continues to replenish its lot position due to
strong deliveries in 2021, including building its inventory of spec
homes, which has declined due to the higher-than-anticipated
absorption pace. All else equal, Fitch generally views high
speculative activity as a credit negative, as rapidly deteriorating
market conditions could result in standing inventory and
consequently sharply lower margins. Nevertheless, MHO has shown
that it can successfully execute this strategy through the cycle.
Fitch expects management will pull back on spending if housing
activity shows signs of slowing.

Cash Flow: The company reported positive cash flow from operations
(CFFO) of $168.3 million in 2020, which was driven by a combination
of strong housing demand and a temporary pullback in land
acquisitions following the onset of the pandemic. Fitch expects
CFFO will be flat to slightly positive in 2021 despite increased
land and development spending. MHO has ample liquidity to cover
negative cash flow in a stable to growing environment, but Fitch
would expect MHO to reduce spending on land and development if
there is a prolonged slowdown.

Speculative Inventory: Management estimates that about 49% of the
total number of homes closed in 2020 and 2019 were speculative
(spec) homes. As of June 30, 2021, MHO had 869 spec homes, of which
59 were completed. Total specs at the end of 2Q21 were 26% below
the level at the prior year period, while total completed specs
were down 85%. MHO has effectively managed its spec activity in the
past, though Fitch views high spec activity as a credit negative,
all else equal, as rapidly deteriorating market conditions could
result in sharply lower margins.

Limited Geographic Diversity: MHO offers homes for sale in 175
communities across 15 local markets in 10 states. The company has a
top-10 position in 11 of the 50 largest MSAs in the country. The
company has expanded into new markets in the past via acquisitions
and green field investments.

Shift Towards Entry-Level: Due to the robustness in the affordable
segment of the market, MHO has shifted its offerings to target the
entry-level buyer. At the end of 2020, MHO's affordable product,
Smart Series, represented 31% of communities, compared with 27% at
the end of 2019 and just 9% at the end of 2018. The shift to this
growing segment has contributed to MHO's strong growth in orders
and deliveries, which increased 39% and 22%, respectively, in 2020.
Orders and deliveries continued to grow significantly in 1H21, with
yoy growth of 24% and 28%, respectively.

Continue Housing Growth in 2021: Housing activity has been robust
during 2H20 and 1H21 after a pause at the onset of the pandemic, as
low mortgage rates and migration from urban to suburban locations
has fueled demand. Fitch expects strong demand to continue through
2H21, although higher mortgage rates and strong home price
appreciation in recent years will continue to pressure
affordability.

U.S. homebuilders should report meaningfully higher revenues in
2021 as a result of strong net order growth during 2H20 and 1H21
and solid backlogs, but Fitch then expects revenue growth to
moderate in 2022 as Fitch forecasts housing activity to slow during
2H21, as strong home price appreciation pressures affordability and
supply chain disruptions constrain housing starts. Fitch expects
housing starts will grow low double digits this year.

DERIVATION SUMMARY

MHO's ratings reflect the company's execution of its business model
in the strong current housing environment, its conservative land
policies, management's demonstrated ability to manage land and
development spending, healthy liquidity position, and improving
credit metrics. Risk factors include the cyclical nature of the
homebuilding industry, MHO's somewhat limited geographic diversity
and its relatively high speculative-inventory levels.

MHO's net debt to capitalization ratio and is on par with M.D.C.
Holdings, Inc. (MDC; BBB-/Stable), but weaker than Meritage Homes
Corporation (MTH; BB+/Stable). The company is similarly
geographically diversified, but is smaller than these peers and has
weaker profitability metrics. However, MHO has a relatively
more-conservative land position with 60% of its lots controlled
through options compared with 40% for MTH and 27% for MDC. MHO also
has a lower owned-lot supply than its peers.

Meritage also has a more aggressive speculative building strategy
compared with MHO, while all three companies have meaningful
exposure to the first-time buyer segment. MDC's build-to-order
strategy and conservatively-managed balance sheet through housing
cycles are strengths relative to MHO.

KEY ASSUMPTIONS

-- Total housing starts improve low double digits in 2021;

-- MHO's homebuilding revenues grow around 23%-24% in 2021 and
    low-to mid-single-digits in fiscal 2022;

-- EBITDA margins exceed 13.0% in 2021 and decline modestly in
    2022;

-- CFFO of $30 million-$40 million in 2021 and flattish in 2022;

-- Net debt to capitalization remains comfortably below 30%
    during the rating horizon;

-- Total debt/operating EBITDA around or below 1.5x during 2021
    and 2022.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

-- The company increases its size and further enhances its
    geographic diversification and local market leadership
    position;

-- EBITDA margins sustain in the low-double-digits;

-- Fitch's expectation that net debt to cap will sustain below
    40%. Management's commitment to maintain a leverage ratio
    below this level would also support positive rating momentum.

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- There is sustained erosion of profits, meaningful and
    continued loss of market share, and/or ongoing land, materials
    and labor cost pressures, resulting in margin contraction and
    weakened credit metrics (including net debt/capitalization
    consistently approaching 45%);

-- The company maintains an aggressive land and development
    spending program that leads to consistently negative CFFO,
    higher debt levels and a diminished liquidity position;

-- If MHO's liquidity position (cash plus revolver availability)
    falls sharply and cannot cover maturities over the next two
    years and any cash flow shortfall in the next 12 months, this
    would also pressure the rating.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.

LIQUIDITY AND DEBT STRUCTURE

Strong Liquidity Position: As of June 30, 2021, MHO had $371.3
million of unrestricted cash and $468.9 million of borrowing
availability under its $550 million revolving credit facility
($81.1 million of letters of credit and no borrowings outstanding),
which matures July 18, 2025. The company has sufficient liquidity
to cover working capital needs in the intermediate term. Fitch
expects the company will extend the commitments on its credit
facility ahead of its scheduled maturity date.

Debt Maturities: MHO has a relatively long-dated maturity schedule,
which would be further enhanced by the proposed refinancing of the
2025 notes. As of June 30, 2021, MHO's debt maturities consisted of
$250 million of 5.625% due August 2025 and $400 million of 4.95%
notes due February 2028. The 2028 notes were issued in January 2020
and the company used $300 million of the proceeds to retire its
6.75% ahead of their January 2021 maturity, with a portion of the
remainder to pay down outstanding revolver borrowings.

ISSUER PROFILE

M/I Homes, Inc. is the 13th largest homebuilder in the United
States based on 2020 closings. The company has a top 10 position in
11 of the 50 largest housing markets in the U.S. The company also
has a financial services operation that supports the homebuilding
activity by providing mortgage loans and title services to the
customers of its homebuilding operation.

SUMMARY OF FINANCIAL ADJUSTMENTS

Historical and projected EBITDA is adjusted to add back non-cash
stock-based compensation and interest expense included in cost of
sales and also excludes impairment charges and land option
abandonment costs and acquisition and integration costs. Fitch also
excludes the earnings and debt of MHO's financial services
operations as this subsidiary's only major debt, a mortgage
repurchase facility, is non-recourse to MHO and the finance
subsidiary generally sells the mortgage it originates and the
related servicing rights to third-party purchasers within a short
period.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.


MANITOWOC COMPANY: Egan-Jones Keeps B Senior Unsecured Ratings
--------------------------------------------------------------
Egan-Jones Ratings Company, on July 28, 2021, maintained its 'B'
foreign currency and local currency senior unsecured ratings on
debt issued by Manitowoc Company, Inc.

Headquartered in Milwaukee, Wisconsin, Manitowoc Company, Inc. is a
diversified industrial manufacturer of cranes and related
products.



MCDERMOTT INT'L: Egan-Jones Withdraws 'D' FC Sr. Unsecured Rating
-----------------------------------------------------------------
Egan-Jones Ratings Company, on July 28, 2021, withdrew its 'D'
foreign currency senior unsecured rating on debt issued by
McDermott International, Inc. EJR also withdrew its 'D' rating on
commercial paper issued by the Company.

Headquartered in Houston, Texas, McDermott International, Inc. is a
worldwide energy services company.



MECHANICAL TECHNOLOGIES: Non-Insider Unsecs. to Recover 75% in Plan
-------------------------------------------------------------------
Mechanical Technologies, d/b/a Alpine Air, filed with the U.S.
Bankruptcy Court for the District of Nevada a First Amended
Disclosure Statement dated August 6, 2021.  The Disclosures show
that the payments proposed in the Debtor's Plan will be funded
through the Court-approved compromise and settlement of claims with
ADVNC Air Technologies, Michael Donovan and Mary Regina Donovan for
$1,100,000.  Based on the Debtor's revenue and budget projections,
the Debtor believes that it will collect sufficient assets to fund
the Plan as proposed.

Classification of Claims and Interests in the Plan

  * Class 1 Allowed Secured Creditors

Class 1 Secured Claims, calculated as of the Petition Date, total
approximately $181,515.  Class 1 shall not be paid, and all the
collateral possessed by each Class 1 Secured Creditor shall be
returned to the Class 1 Secured Creditor or repossessed by the
Class 1 Secured Creditor, prior to the Effective Date of the Plan.
Any deficiency remaining after a duly noticed sale of the
collateral, may be asserted as a Class 2 General Unsecured Claim,
subject to allowance or disallowance by the Debtor, assuming a
timely proof of claim was filed by January 27, 2020, and thereafter
amended to include a general unsecured claim, no later than the
confirmation date.  Class 1 Claims are Unimpaired under the Plan.

  * Class 2 Allowed General Non-Insider and Insider Unsecured
Creditors

The Class 2 Allowed General Non-Insider and Insider Unsecured
Claims, calculated as of the Petition Date, total approximately
$686,767.  Class 2 Claims shall be paid pro rata on or before the
Effective Date of the Plan from the remaining monies after allowed
administrative claims and allowed priority claims are paid in full,
which sum of $306,391 excludes the prepetition insider claim of
Ranger Construction, Inc. in the amount of $380,375.  If any monies
remain after payment of the Class 2 Claims, Ranger Construction
shall receive any remaining monies on account of its Class 2 Claim.


The Debtor estimates that the Class 2 Allowed General Non-Insider
Unsecured Claims will be paid 75% of each claim, and that the
insider claim of Ranger Construction will be paid zero.  Class 2
Claims are Impaired under the Plan.

  * Class 3 Equity Interests of Debtor

Class 3 consists of the shareholder's equity interest in the
Debtor, specifically, John Donovan as to a 51% stock ownership and
Michael Donovan as to a 49% stock ownership.  The equity interests
of the shareholders of Mechanical Technologies Corp., dba Alpine
Air existing on the Petition Date shall remain unchanged.  Class 3
Equity Interests are Unimpaired under the Plan.

A copy of the Disclosure Statement is available for free at
https://bit.ly/3yDlZSH from PacerMonitor.com.

The Court will consider approval of the Disclosure Statement
remotely at 10 a.m. on August 25, 2021.

Counsel for the Debtor:

   Stephen R. Harris, Esq.
   Harris Law Practice LLC
   6151 Lakeside Drive, Suite 2100
   Reno, NV 89511
   Telephone: (775)786-7600
   Email: steve@harrislawreno.com

                   About Mechanical Technologies

Mechanical Technologies d/b/a Alpine Air --
http://alpineheatingandair.com/-- specializes in offering
single-source contracting for all residential and commercial
design/build needs.  The Company services and installs residential
heating and air conditioners. Alpine Air has designed, installed,
and serviced projects including computer rooms, environmental
chambers, manufacturing facilities, biotech laboratories, burn-in
rooms, and dry rooms.  Alpine Air was established in 1987.

Mechanical Technologies Corp. d/b/a Alpine Air, based in Reno,
Nevada, filed a Chapter 11 petition (Bankr. D. Nev. Case No.
19-51146) on Sept. 26, 2019.  In the petition signed by John
Donovan, president, the Debtor was estimated to have $1 million to
$10 million in both assets and liabilities.

The Honorable Bruce T. Beesley oversees the case.  Stephen R.
Harris, Esq., at Harris Law Practice LLC, serves as bankruptcy
counsel and Robison Sharp Sullivan & Brust, is special counsel.



MICHAEL FELICE: Unsecureds Owed $1.67M to Get $168K in 3 Years
--------------------------------------------------------------
Michael Felice Interiors, LLC, proposed a Small Business Plan for
restructuring its debt.

Shortly after filing for bankruptcy, business operations
dramatically slowed in the wake of COVID-19 restrictions mandating
the shutdown of businesses in New Jersey. The Debtor sought an
Economic Injury Disaster Loan ("EIDL") from the U.S. Small Business
Administration. The U.S. Small Business Administration has approved
the EIDL and issued a Loan Authorization and Agreement in the
amount of to $500,000. The EIDL will be secured by all property
that the Debtor owns or shall acquire or create immediately upon
the acquisition or creation.

The EIDL proceeds will provide working capital to alleviate
economic injury caused by COVID-19. Specifically, the funds will
enable the Debtor to procure materials necessary to accept
additional project; thereby, generating additional profits and
improving the feasibility of reorganization.

Classes of Priority Unsecured Claims:

     * Class Seven consists of a priority unsecured claim in the
amount of $752.00 held by Alexa Houlis for unpaid wages. Commencing
on the first day of the first month following the Effective Date of
the Plan (the "Initial Payment") and quarterly thereafter for a
total of 8 quarters, payment will be made to the holder of this
claim in the amount of 1/8th of its Allowed Claim.

     * Class Eight consists of a priority unsecured claim in the
amount of $5,192.00 held by Barbara Benson for unpaid wages.
Commencing on the first day of the first month following the
Effective Date of the Plan (the "Initial Payment") and quarterly
thereafter for a total of 8 quarters, payment will be made to the
holder of this claim in the amount of 1/8th of its Allowed Claim.

     * Class Nine consists of a priority unsecured claim in the
amount of $4,746.71 held by Elizabeth Kane for unpaid wages.
Commencing on the first day of the first month following the
Effective Date of the Plan (the "Initial Payment") and quarterly
thereafter for a total of 8 quarters, payment will be made to the
holder of this claim in the amount of 1/8th of its Allowed Claim.

     * Class Ten consists of a priority unsecured claim in the
amount of $890.00 held by Elyce Berenzweig for unpaid wages.
Commencing on the first day of the first month following the
Effective Date of the Plan (the "Initial Payment") and quarterly
thereafter for a total of 8 quarters, payment will be made to the
holder of this claim in the amount of 1/8th of its Allowed Claim.

     * Class Eleven consists of a priority unsecured claim in the
amount of $9,228.00 held by Janette Casse for unpaid wages.
Commencing on the first day of the first month following the
Effective Date of the Plan (the "Initial Payment") and quarterly
thereafter for a total of 8 quarters, payment will be made to the
holder of this claim in the amount of 1/8th of its Allowed Claim.

     * Class Twelve consists of a priority unsecured claim held by
Michelle Griffith. This Creditor has filed a proof of claim in the
amount of $3,036.70. Commencing on the first day of the first month
following the Effective Date of the Plan (the "Initial Payment")
and quarterly thereafter for a total of 8 quarters, payment will be
made to the holder of this claim in the amount of 1/8th of its
Allowed Claim.

     * Class Thirteen consists of a priority unsecured claim in the
amount of $780.00 held by Olivia Janovic for unpaid wages.
Commencing on the first day of the first month following the
Effective Date of the Plan (the "Initial Payment") and quarterly
thereafter for a total of 8 quarters, payment will be made to the
holder of this claim in the amount of 1/8th of its Allowed Claim.

Class Fourteen are holders of General Unsecured Claims, including
allowed deficiency claims of creditors in prior classes and the
claims of Creditors not otherwise classified under the Plan.
Subject to objection of claims in accordance with the Plan, the
Debtor estimates the amount of claims in this class to total
$1,669,405.22.

Commencing on the last day of the first quarter following the
Effective Date of the Plan (the "Initial Payment") and quarterly
thereafter for a total of 12 quarters, the Debtor shall make
payments on a pro rata basis to undisputed, liquidated, non
contingent claims as scheduled or filed, subject to timely
objection to the validity or extent of each claim holders (the
"Allowed Unsecured Claims") in an amount equal to 1/4 of the annual
projected net income of the Debtor for the corresponding year.
Accordingly, over the life of the Plan Class Fourteen holders will
share pro rata in the total amount of $167,900.11.

The ownership interests of the Debtor in the assets of Michael J.
Felice and Cecilia Guzzo shall not be altered as a consequence of
the Plan.

The plan will be funded from a combination of (i) funds on hand in
the estate at the time of Confirmation; (ii) an Economic Injury
Disaster Loan ("EIDL") form the U.S. Small Business Administration
in the amount of $150,000.00; and (iii) net cash flow of the
Reorganized Debtor received during the thirty-six months of the
Plan beginning on the Effect Date of the Plan.

The U.S. Small Business Administration has approved the EIDL and
issued a Loan Authorization and agreement in the amount of
$150,000.00. The EIDL proceeds are prohibited from being used for
anything other than to provide working capital to alleviate
economic injury caused by COVID-19. Specifically, the funds will
enable the Debtor to procure materials necessary to accept
additional projects; thereby, generating additional profits and
improving the feasibility of reorganization.

A full-text copy of the Subchapter V Plan dated August 9, 2021, is
available at https://bit.ly/3Axqe2r from PacerMonitor.com at no
charge.

Counsel for the Debtor:

     SCURA, WIGFIELD, HEYER
     STEVENS & CAMMAROTA, LLP
     David L. Stevens
     1599 Hamburg Turnpike
     Wayne, NJ 07470
     Tel: 973-696-8391
     Email: dstevens@scura.com

                  About Michael Felice Interiors

Michael Felice Interiors LLC --
https://www.michaelfeliceinteriors.com/ -- is a full-service design
firm located in Wyckoff, NJ.  It offers a large selection of
furniture, window coverings, carpet, lighting, and a gallery of
Hunter Douglas shades and blinds.

Michael Felice Interiors sought Chapter 11 protection (Bankr.
D.N.J. Case No. 20-11531) on Jan. 30, 2020.  The Debtor disclosed
total assets of $97,524 and total liabilities of $2,300,540.
SCURA, WIGFIELD, HEYER, STEVENS & CAMMAROTA, LLP, led by David L.
Stevens, is the Debtor's counsel.


MIDAS OPCO: Moody's Assigns B2 CFR & Rates $1BB Unsecured Notes B3
------------------------------------------------------------------
Moody's Investors Service assigned ratings to Midas Opco Holdings
LLC (Midas Opco, dba Stagwell) consisting of a B2 corporate family
rating, B2-PD probability of default rating, B3 rating to its
proposed $1 billion senior unsecured notes, and SGL-3 speculative
grade liquidity rating. The outlook is positive. Midas Opco was
formed when MDC Partners Inc. (MDC) merged with Stagwell Marketing
Group Holdings LLC on August 2, 2021 [1]. The combined company's
public parent is Stagwell Inc., which trades on the Nasdaq.
Concurrently, Moody's has withdrawn MDC's B2 CFR, B2-PD PDR, and
SGL-3 speculative grade liquidity rating.

Net proceeds from the $1 billion unsecured notes issuance will be
used to redeem MDC's $870 million senior unsecured notes, reduce
revolver drawings and pay transaction costs. Midas Opco has also
put in place a $500 million revolving credit facility (unrated).
MDC's B3 senior unsecured notes rating and stable outlook remain
unchanged and will be withdrawn when the transaction closes.

"Midas Opco's positive outlook reflects Moody's expectation that
the company will maintain good operating momentum and will reduce
leverage below 5x in the next 12 to 18 months", said Peter Adu,
Moody's Vice President and Senior Analyst.

Assignments:

Issuer: Midas Opco Holdings LLC

Corporate Family Rating, Assigned B2

Probability of Default Rating, Assigned B2-PD

Speculative Grade Liquidity Rating, Assigned SGL-3

Senior Unsecured Regular Bond/Debenture, Assigned B3 (LGD4)

Withdrawals:

Issuer: MDC Partners Inc.

Corporate Family Rating, Withdrawn, previously rated B2

Probability of Default Rating, Withdrawn , previously rated B2-PD

Speculative Grade Liquidity Rating, Withdrawn , previously rated
SGL-3

Outlook Actions:

Issuer: MDC Partners Inc.

Outlook, Remains Stable

Issuer: Midas Opco Holdings LLC

Outlook, Assigned Positive

RATINGS RATIONALE

Midas Opco's B2 CFR is constrained by: (1) ad spending shifts to
large technology companies and digital media platforms, which
requires the company to adjust its business accordingly; (2)
increasing competition from consulting firms, which have digital
strengths and are growing their creative offerings with
acquisitions; and (3) small scale relative to rated industry peers.
The rating benefits from: (1) Moody's expectation that leverage
(adjusted Debt/EBITDA) will be maintained below 5x in the next 12
to 18 months (5.3x for 2021); (2) increased digital services
exposure (to 38% of revenue from 14%); (3) good client and industry
diversity; and (4) Moody's expectation of positive free cash flow
generation, which will be used to repay debt and reduce leverage.

Midas Opco is a borrower of the $500 million senior secured
revolving credit facility due in 2026 (unrated) and is also the
issuer of the new $1 billion senior unsecured notes due in 2029.
Both instruments are guaranteed by the same domestic subsidiaries.
The unsecured notes are rated B3, one notch below the CFR, to
reflect their junior ranking below the secured revolver in the new
capital structure.

Midas Opco has moderate social risks. Demographic and societal
trends dictate that the company has to adjust to digital
technologies being introduced by large technology companies that
are altering delivery channels and consumer spending patterns.

Midas Opco has high governance risks. The company has operated with
high leverage in the past due to operational challenges. Management
has been building a track record of deleveraging, although the
timeframe is short. There is concentration of ownership as Stagwell
Media LP owns about 75% of the common shares of Stagwell Inc.,
Midas Opco's public parent.

Midas Opco has adequate liquidity (SGL-3). Sources approximate $320
million compared to uses of $70 million in the form of deferred
acquisition consideration payments over the twelve months to June
2022. Sources consist of pro forma cash of $110 million, about $112
million of availability (after drawings and letters of credit)
under its $500 million revolving credit facility due in August
2026, and Moody's expected free cash flow of at least $100 million
in the next four quarters. The revolving credit facility is subject
to a total leverage covenant with step downs and cushion is
expected to exceed 20% through the next 4 quarters. Midas Opco has
limited ability to generate liquidity from asset sales.

The outlook is positive because Moody's expects the company to
manage structural pressures in the advertising industry well while
continuing with its deleveraging path below 5x through the next 12
to 18 months.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

The ratings could be upgraded if the company generates sustainable
positive revenue and EBITDA growth (low single digit growth
expected) while sustaining leverage below 4.5x (5.3x for 2021) and
FCF/Debt above 5% (6% for 2021).

The ratings could be downgraded if business fundamentals
deteriorate, evidenced by material revenue or EBITDA decline (low
single digit growth expected), if leverage is sustained above 6.5x
(5.3x for 2021) or if liquidity becomes weak.

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

Headquartered in New York City, Midas Opco is a global provider of
marketing, advertising, communications and consulting services. Pro
forma for the merger, revenue exceeds $2 billion.


MINORITY CONTRACTING: Taps Leftkovitz & Leftkovitz as Legal Counsel
-------------------------------------------------------------------
Minority Contracting Service, LLC seeks approval from the U.S.
Bankruptcy Court for the Middle District of Tennessee to hire
Leftkovitz & Leftkovitz to serve as legal counsel in its Chapter 11
case.

The firm's services include:

     (a) advising the Debtor as to its rights, duties and powers
under the Bankruptcy Code;

     (b) preparing and filing statements of financial affairs and
bankruptcy schedules, Chapter 11 plan and other legal documents;

     (c) representing the Debtor at all hearings, meetings of
creditors, conferences, trials and any other proceedings in the
case; and

     (d) performing other necessary legal services.

The firm's hourly rates are as follows:

     Steven L. Leftkovitz, Esq.      $555 per hour
     Associate Attorneys             $350 per hour
     Paralegals                      $125 per hour

The Debtor paid $5,000 to the law firm as a retainer fee.

Steven Leftkovitz, Esq., the firm's attorney who will be providing
the services, disclosed in a court filing that he is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached at:

     Steven L. Lefkovitz, Esq.
     Leftkovitz & Leftkovitz
     618 Church St., #410
     Nashville, TN 37219
     Tel.: 615-256-8300
     Fax: 615-255-4516
     Email: slefkovitz@lefkovitz.com

                 About Minority Contracting Service

Goodlettsville, Tenn.-based Minority Contracting Service, LLC
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
M.D. Tenn. Case No. 21-02355) on July 31, 2021.  In the petition
signed by Todd Jordan Mason, chief manager, the Debtor disclosed
$233,625 in assets and $1,535,200 in liabilities. Judge Randal S.
Mashburn oversees the case. The Debtor tapped Steven L. Lefkovitz,
Esq., at Leftkovitz & Leftkovitz, as legal counsel.


MJ GRAPHICS: Plan Payments to be Funded by Continued Operations
---------------------------------------------------------------
M.J. Graphics, Inc., filed with the U.S. Bankruptcy Court for the
Southern District of Texas a Plan of Reorganization for Small
Business dated August 9, 2021.

MJ Graphics is a party supply business, supplying such items as
tents, chairs, tables, air blow ups, and popcorn and other food
items for various events. Because of the social distancing imposed
to address COVID-19 and the lockdowns, MJ Graphics' revenue dropped
to a quarter of its historical levels during the pandemic. In
addition, an employee stole approximately $500,000 worth of revenue
and equipment from MJ Graphics. For these reasons, MJ Graphics
became unable to pay its debts as they became due and filed this
bankruptcy case.

This Plan of Reorganization under chapter 11 proposes to pay MJ
Graphics creditors primarily from future income generated by the
continued operation of MJ Graphics party supply business.

The Plan will treat claims as follows:

     * Class 1 consists of the Claim of Fort Bend County. On or
before January 31, 2022, MJ Graphics will pay the full amount of
any property taxes finally determined by Fort Bend County to be
owed for the 2021 tax year except to the extent that MJ Graphics
successfully disputes any such amount under non-bankruptcy law.

     * Class 2 consists of the Claim of Ally Bank (2017 GMC Yukon
XL). MJ Graphics will pay $30,163.00 to Class 2, plus postpetition
interest accruing on this amount at a rate of 4.25% per year from
the petition date until the amount is paid in full.

     * Class 3 consists of the Claim of Willow Fork Drainage
District. On or before January 31, 2022, MJ Graphics will pay the
full amount of any property taxes finally determined by Willow Fork
Drainage District to be owed for the 2021 tax year except to the
extent that MJ Graphics successfully disputes any such amount under
nonbankruptcy law.

     * Class 4 consists of the Claim of Cinco Municipal Utility
District #12. On or before January 31, 2022, MJ Graphics will pay
the full amount of any property taxes finally determined by Cinco
Municipal District #12 to be owed for the 2021 tax year except to
the extent that MJ Graphics successfully disputes any such amount
under nonbankruptcy law.

     * Class 5 consists of the Claim of Americredit Financial
Services, Inc. (2018 GMC Sierra 1500). MJ Graphics will pay $9,600
to Class 5, plus postpetition interest accruing on this amount at a
rate of 4.25% per year from the petition date until the amount is
paid in full.

     * Class 6 consists of the Claim of Ally Bank (2017 GMC
Sierra). MJ Graphics will pay $3,370 to Class 6, plus postpetition
interest accruing on this amount at a rate of 4.25% per year from
the petition date until the amount is paid in full.

     * Class 7 consists of the Claim of Ally Financial. MJ Graphics
will pay $19,347 to Class 7, plus postpetition interest accruing on
this amount at a rate of 4.25% per year from the petition date
until the amount is paid in full.

     * Class 8 consists of the Claim of On Deck Capital, Inc. MJ
Graphics will not make any secured payments to pay Class 8. The
class 8 claim will be treated as a wholly unsecured claim. On Deck
Capital, Inc. does not appear to have an executed security
agreement and has no perfected secured interest.

     * Class 9 consists of the Claim of Rapid Finance. MJ Graphics
will pay $30,198.75 to Class 9, plus postpetition interest accruing
on this amount at a rate of 4.25% per year from the petition date
until the amount is paid in full.

     * Class 10 consists of Priority Tax Claims. MJ Graphics will
pay the full amount owed on priority tax claims to the Internal
Revenue Service (estimated at $1,000) and the Texas Comptroller
(estimated at $0) in equal monthly payments at 3.5% interest such
that the claims are paid in full no later than April of 2026.

     * Class 11 consists of NonPriority Unsecured Creditors. MJ
Graphics will pay $31,138.32 to Class 11 at the times and in the
amounts as set forth on the Projections.

     * Class 12 consists of Equity Owner. The class 12 creditor
will retain her stock interests subject to the terms of this plan.

Except for any items of property specifically surrendered according
to the terms of the Plan, MJ Graphics will retain the property of
the bankruptcy estate and fund the plan primarily with the income
generated by continued operation of the party supply business.
Melissa Hurtado will remain president of the reorganized Debtor.

A full-text copy of the Small Business Plan dated August 9, 2021,
is available at https://bit.ly/2Xn3u7j from PacerMonitor.com at no
charge.

Attorney for the Debtor:

     Reese Baker, Esq.
     Baker & Associates
     950 Echo Lane, Ste 300
     Houston, TX 77024
     Tel: (713) 979-2279

                      About MJ Graphics Inc.

MJ Graphics Inc. is a Texas corporation that was established in
2003 and is wholly owned by Melissa Hurtado. The Debtor filed a
Chapter 11 bankruptcy petition (Bankr. S.D. Tex. Case No. 21-31596)
on May 12, 2021.  At the time of the filing, the Debtor disclosed
total assets of up to $100,000 and total liabilities of up to $1
million.  Judge Jeffrey P. Norman oversees the case.  Baker &
Associates is the Debtors legal counsel.


MODIVCARE INC: Moody's Rates New $400MM Unsec. Notes Due 2029 'B2'
------------------------------------------------------------------
Moody's Investors Service affirmed ModivCare, Inc.'s B1 Corporate
Family Rating, and B1-PD Probability of Default Rating.
Concurrently, Moody's affirmed the B2 rating on the existing senior
unsecured notes due 2025, and assigned a B2 rating to proposed $400
senior unsecured notes due 2029. There is no change to the
Speculative Grade Liquidity Rating at SGL-2, signifying good
liquidity. The rating outlook is stable.

The proceeds from the proposed debt issuance, along with balance
sheet cash and revolver borrowings, will be used to fund $655
million in acquisitions of CareFinders Total Care LLC
("CareFinders"), a provider of non-medical home care services, and
VRI Ultimate Holdings, LLC ("VRI"), a provider of emergency
response systems, vitals monitoring and medication management, as
well as pay related transaction fees and expenses.

The B2 rating assigned to the senior unsecured notes reflects their
structural subordination to the secured debt in the company's
capital structure, comprised of a $225 million (unrated) revolving
credit facility.

Assignments:

Issuer: ModivCare Inc.

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

Affirmations:

Issuer: ModivCare Inc.

Probability of Default Rating, Affirmed B1-PD

Corporate Family Rating Affirmed B1

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

Outlook Actions:

Issuer: ModivCare Inc.

Outlook, Remains Stable

RATINGS RATIONALE

ModivCare's B1 Corporate Family Rating is constrained by its high
reliance on Medicaid funding, and the risk that state or federal
policy changes or budget constraints will pressure demand or
pricing for ModivCare's services. The non-emergency medical
transportation ("NEMT") business is also subject to margin
variability based on utilization of services and transportation
rates. Vulnerability to wage pressures, high employee turnover and
a lack of meaningful barriers to entry for the non-emergency
transportation and personal care services also constrain the credit
profile. The rating is also constrained by moderate geographic
concentration. Within the NEMT business, five states make up
approximately 44% of company's revenue. While the acquisition of
CareFinders and VRI will expand ModivCare's geographic footprint,
personal care segment will remain highly concentrated in New York,
Pennsylvania and New Jersey.

The B1 rating is supported by the company's moderate debt/EBITDA of
approximately 3.8 times, including Moody's adjustments. Moody's
expects that, as a publicly traded company, ModivCare will maintain
moderate financial policies. The company also benefits from good
scale with revenues of approximately $2.1 billion (pro forma for
the acquisitions of CareFinders and VRI) and leading market
positions in both NEMT and home services. CareFinders and VRI will
further diversify ModivCare's service offerings and, will also
boost ModivCare's profitability. Moody's believes the non-medical
home care business will benefit from favorable industry dynamics,
including an aging population, as well as a shift by state Medicaid
programs as well as managed care organizations (MCOs) towards
home-based care to gain cost efficiencies and provide a better
patient environment.

Social and governance considerations are material to ModivCare's
credit profile. The coronavirus outbreak adds risks to patients and
service providers' health and safety. Aside from coronavirus,
ModivCare's profit generation is highly reliant on reimbursement
from Medicaid, causing exposure to regulatory changes and budgetary
pressure. Further, there is reputational risk if a patient is
harmed in the care of one of ModivCare's employees, particularly
given the fragile nature of patients. Failure to properly
credential and back-ground check employees could lead to
reputational and or legal risks. However, positive social
considerations include the expanding Medicare and Medicaid
population, and a growing focus on value-based health and
addressing the social determinants of health. These trends will
benefit the company.

Among governance considerations, the ratings reflect Moody's
expectations that as a publicly traded company, ModivCare will
maintain moderate financial policies. At the same time, Moody's
expects that ModivCare will continue to pursue growth and will
likely build its non-medical home care business through
acquisitions that will be debt funded.

The SGL-2 Speculative Grade Liquidity rating reflects the company's
good liquidity. Cash balances will be approximately $50 million at
the close of the transaction. ModivCare's liquidity is further
supported by $225 million revolving credit facility, expiring in
2023, which Moody's expects will have roughly $39 million drawn at
close of the transaction. The company's secured revolver is subject
to maximum total net leverage covenant which will have ample
headroom. Moody's notes that company's liquidity will be negatively
impacted by approximately $297 million of accrued contract payables
under its capitated contracts, which will need to be repaid, and
are likely to be partially funded by revolver borrowings.

The stable rating outlook reflects Moody's expectations that
ModivCare will successfully integrate the acquisitions of
CareFinders and VRI, and that the company will generate mid-single
digit revenue growth and strong cash flows, and maintain
debt/EBITDA below 4.0 times as it pursues tuck-in acquisitions to
supplement its organic growth.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

The ratings could be upgraded if the company delivers sustained
revenue and earnings growth with increased stability in profit
margins and successful integration of CareFinders and VRI. A
commitment to conservative financial posture partially evidenced by
debt/EBITDA sustained below 3.5 times, along with a record of
strong positive free cash flows could also support an upgrade.

The ratings could be downgraded if operational performance
deteriorates, the company has challenges integrating CareFinders
and VRI, or the company experiences significant profit margin
pressure. Quantitatively, if debt/EBITDA is sustained above 4.5x
the ratings could be downgraded. ModivCare's ratings could also be
downgraded if liquidity deteriorates.

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

Headquartered in Denver, Colorado, ModivCare, Inc. ("ModivCare")
through its fully-owned subsidiary LogistiCare Solutions, LLC, is
the nation's largest manager of non-emergency medical
transportation programs for state governments and managed care
organizations. In September 2020, ModivCare acquired Simplura
Health Group, a leading provider of non-medical home care services
to Medicaid patient populations, including seniors and disabled
adults, in need of care monitoring and assistance performing
activities of daily living. ModivCare generated pro forma revenues
of approximately $2.1 billion for the twelve months ended June 30,
2021.


MR. CAMPER: Case Summary & 15 Unsecured Creditors
-------------------------------------------------
Debtor: Mr. Camper, L.L.C.
           d/b/a Yogi Bear's Jellystone Camp Resort
        46069 La. Highway 445
        Robert, LA 70455

Business Description: The Debtor is part of the RV (Recreational
                      Vehicle) Parks and recreational camps
                      industry.

Chapter 11 Petition Date: August 11, 2021

Court: United States Bankruptcy Court
       Eastern District of Louisiana

Case No.: 2:21-bk-11051

Debtor's Counsel: Markus E. Gerdes, Esq.
                  GERDES LAW FIRM, LLC
                  P.O. box 2862
                  Hammond, LA 70404
                  Tel: (985) 345-9404
                  Fax: (985) 543-0434
                  E-mail: Markus@gerdeslaw.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Maurice J. LeBlanc, Jr. as managing
member.

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

https://www.pacermonitor.com/view/QLGNBUQ/Mr_Camper_LLC_dba_Yogi_Bears_Jellysto__laebke-21-11051__0001.0.pdf?mcid=tGE4TAMA


MUSEUM OF AMERICAN JEWISH: Withdraws Fifth Amended Plan, Disclosure
-------------------------------------------------------------------
The Museum of American Jewish History, d/b/a National Museum of
American Jewish History, withdrew from the Bankruptcy Court's
docket its Fifth Amended Chapter 11 Plan of Reorganization and the
accompanying Disclosure Statement.  The Debtor also withdrew its
Motion for Entry of an Order Approving Disclosure Statement;
Procedures for the Solicitation and Tabulation of Votes to Accept
or Reject the Debtor's Chapter 11 Plan; and Related Notice and
Objection Procedures.

A copy of the praecipe to withdraw is available for free at
https://bit.ly/2VBhg5H from Donlin Recano, claims agent.

              About Museum of American Jewish History

The Museum of American Jewish History -- https://www.nmajh.org/ --
is a Pennsylvania non-profit organization which operates the
National Museum of American Jewish History, the only museum in the
nation dedicated exclusively to exploring and interpreting the
American Jewish experience.  The museum presents educational and
public programs that preserve, explore and celebrate the history of
Jews in America.  The museum was established in 1976 and is housed
in the Philadelphia's Independence Mall.

On March 1, 2020, Museum of American Jewish History sought Chapter
11 protection (Bankr. E.D. Pa. Case No. 20-11285).  The Debtor was
estimated to have $10 million to $50 million in assets and
liabilities.  Judge Magdeline D. Coleman oversees the case.  The
Debtor tapped Dilworth Paxson, LLP as its legal counsel and Donlin,
Recano & Company, Inc. as its claims agent.




MYCELL TECHNOLOGIES: Seeks to Employ Maltz Auctions as Broker
-------------------------------------------------------------
MyCell Technologies LLC seeks approval from the U.S. Bankruptcy
Court for the Southern District of New York to hire Maltz Auctions,
Inc. as broker to sell certain intellectual property.

Maltz Auctions will get 10 percent of the purchase price.  In case
there are no bidders other than New Age Ventures, the firm will
receive the sum of $7,500.

Richard Maltz, chief executive officer of Maltz Auctions, disclosed
in a court filing that he is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Richard Maltz
     Maltz Auctions, Inc.
     39 Windsor Place
     Central Islip, NY 11722
     Tel.: 516.349.7022
     Fax: 516.349.0105
     Email: info@MaltzAuctions.com
    
                     About MyCell Technologies

MyCell Technologies LLC is an intellectual property and investment
holding company in New York, which specializes in the development
of proprietary liquid formulations of stable, concentrated omega3s
for use in food, beverage, pet, medical and nutritional products.

MyCell Technologies sought Chapter 11 protection (Bankr. S.D.N.Y.
Case No. 20-12748) on Nov. 25, 2020.  Glenn R. Langberg, director,
signed the petition.  In the petition, the Debtor disclosed total
assets of $10,637 and total debt of $1,412,021.  Judge James L.
Garrity, Jr. oversees the case.  The Debtor tapped Eric H. Horn,
Esq., at A.Y. Strauss LLC, as its legal counsel.


MYLAN NV: Egan-Jones Withdraws BB+ FC Senior Unsecured Rating
-------------------------------------------------------------
Egan-Jones Ratings Company, on July 29, 2021, withdrew its 'BB+'
foreign currency senior unsecured rating on debt issued by Mylan
NV.

Headquartered in Canonsburg, Pennsylvania, Mylan NV is a global
generic and specialty pharmaceuticals company.




MYOMO INC: Incurs $2.6 Million Net Loss in Second Quarter
---------------------------------------------------------
Myomo, Inc. filed with the Securities and Exchange Commission its
Quarterly Report on Form 10-Q disclosing a net loss of $2.62
million on $3.10 million of revenue for the three months ended June
30, 2021, compared to a net loss of $3.29 million on $858,590 of
revenue for the three months ended June 30, 2020.

For the six months ended June 30, 2021, the Company reported a net
loss of $5.58 million on $5.44 million of revenue compared to a net
loss of $7.09 million on $1.87 million of revenue for the same
period during the prior year.

As of June 30, 2021, the Company had $17.71 million in total
assets, $3.90 million in total liabilities, and $13.81 million in
total stockholders' equity.

"We are pleased to be reporting sustained momentum with our efforts
to expand the number of individuals who receive a MyoPro through
our direct-to-consumer marketing and our own clinical services
channel," stated Paul R. Gudonis, Myomo's chairman and chief
executive officer.  "A growing number of physicians are prescribing
the MyoPro for their patients, and we obtained a record number of
insurance authorizations and orders during the second quarter.  We
are also experiencing an acceleration of the revenue cycle as a
growing number of units are regularly reimbursed by certain
insurance plans."

Gross margin for the second quarter of 2021 was 71%, compared with
51% for the second quarter of 2020.  The margin expansion primarily
reflects a higher average selling price and improved fixed cost
coverage resulting from higher unit volume, partially offset by a
greater number of deliveries to patients in the second quarter,
which is when cost of goods sold is recognized.  The Company
delivered 86 units to patients in the second quarter.  Year-to-date
gross margin was 72%, compared with 60% in the year-ago period.

Operating expenses for the second quarter of 2021 were $4.8
million, an increase of 46% compared with the second quarter of
2020, which reflected various COVID-19 related expense reductions.
Operating expenses for the first six months of 2021 were $9.4
million, an increase of 28% compared with the same period a year
ago.

Operating loss for the second quarter of 2021 narrowed to $2.6
million from $2.8 million for the second quarter of 2020.

Adjusted EBITDA for the second quarter of 2021 was negative $2.2
million, compared with negative $2.7 million for the second quarter
of 2020.  Adjusted EBITDA for the first six months of 2021 was
negative $4.9 million, compared with negative $6.0 million for the
same period a year ago.

"We expect to deliver another solid quarter of year-over-year
revenue growth in the third quarter," said Mr. Gudonis.  "Our plan
is to build upon the successful strategies we implemented during
the first half of the year, in particular increased
direct-to-patient marketing.  In addition, we will continue to
focus on the direct billing channel as we look forward to a strong
finish to 2021."

Cash and cash equivalents as of June 30, 2021 were $13.8 million.
Cash used in operating activities was $3.4 million in the second
quarter of 2021, which included the payment of 2020 incentive
compensation.  Cash used in operating activities is expected to
decrease in the third quarter of 2021 due to a lower working
capital requirement.  The Company continues to believe its existing
cash is sufficient to fund operations well into the second half of
2022.

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1369290/000156459021042654/myo-10q_20210630.htm

                            About Myomo

Headquartered in Cambridge, Massachusetts, Myomo, Inc.
--http://www.myomo.com-- is a wearable medical robotics company
that offers expanded mobility for those suffering from
neurologicaldisorders and upper limb paralysis.  Myomo develops and
markets the MyoPro product line.  MyoPro is a powered upper limb
orthosis designed to support the arm and restore function to the
weakened or paralyzed arms of patients suffering from CVA stroke,
brachial plexus injury, traumatic brain or spinal cord injury, ALS
or other neuromuscular disease or injury.

Myomo reported a net loss of $11.56 million for the year ended Dec.
31, 2020, compared to a net loss of $10.71 million for the year
ended Dec. 31, 2019.  As of March 31, 2021, the Company had $20.92
million in total assets, $4.86 million in total liabilities, and
$16.07 million in total stockholders' equity.


NAVISTAR INT'L: Egan-Jones Withdraws 'CCC+' FC Sr. Unsec. Rating
----------------------------------------------------------------
Egan-Jones Ratings Company, on July 28, 2021, withdrew its 'CCC+'
foreign currency senior unsecured rating on debt issued by Navistar
International Corporation. EJR also withdrew its 'B' rating on
commercial paper issued by the Company.

Headquartered in Lisle, Illinois, Navistar International
Corporation manufactures and markets medium and heavy trucks,
school buses, mid-range diesel engines, and service parts.



OCULAR THERAPEUTIX: Signs Deal to Sell $100M Worth of Common Shares
-------------------------------------------------------------------
Ocular Therapeutix, Inc. has entered into an Open Market Sale
Agreement with Jefferies LLC, as agent, pursuant to which the
Company may offer and sell shares of its common stock, $0.0001 par
value per share, having an aggregate offering price of up to $100.0
million from time to time through Jefferies.  The Company has also
filed a prospectus supplement with the Securities and Exchange
Commission in connection with the Offering under the Company's
existing automatic shelf Registration Statement on Form S-3 (File
No. 333-251327), which became effective on Dec. 14, 2020.

Upon delivery of a placement notice and subject to the terms and
conditions of the Sales Agreement, Jefferies may sell the Shares by
methods deemed to be an "at the market offering" as defined in Rule
415(a)(4) promulgated under the Securities Act of 1933, as amended,
including sales made directly on or through The Nasdaq Global
Market, the existing trading market for the Company's common
stock.

The Company or Jefferies may suspend or terminate the offering of
Shares upon notice to the other party, subject to certain
conditions.  Jefferies will act as sales agent on a commercially
reasonable efforts basis consistent with its normal trading and
sales practices and applicable state and federal law, rules and
regulations and the rules of Nasdaq.

The Company has agreed to pay Jefferies commissions for its
services of acting as agent of up to 3.0% of the gross proceeds
from the sale of the Shares pursuant to the Sales Agreement.  The
Company has also agreed to provide Jefferies with customary
indemnification and contribution rights.

Wilmer Cutler Pickering Hale and Dorr LLP, counsel to the Company,
has issued a legal opinion relating to the Shares.

The Shares will be sold pursuant to the Registration Statement, and
offerings of the Shares will be made only by means of the
Prospectus Supplement.

In connection with the entry into the Sales Agreement, on Aug. 9,
2021, the Company and Jefferies mutually terminated their prior
Open Market Sale AgreementSM, dated as of April 5, 2019, by and
between the Company and Jefferies, in accordance with its terms.
The Prior Open Market Sale Agreement provided for the sale of
shares of common stock having an aggregate offering price of up to
$50.0 million.  As of the date of termination, the Company had sold
an aggregate of 10,321,840 shares of its common stock under the
Prior Open Market Sale Agreement gross proceeds of $48.7 million.
The shares of common stock that had been available for sale
pursuant to the Prior Open Market Sale Agreement remained unsold at
the time of its termination, and the Company cannot make any
further sales of its common stock pursuant to the Prior Open Market
Sale Agreement.

                      About Ocular Therapeutix

Headquartered in Bedford, MA, Ocular Therapeutix, Inc. --
http://www.ocutx.com-- is a biopharmaceutical company focused on
the formulation, development, and commercialization of innovative
therapies for diseases and conditions of the eye using its
proprietary bioresorbable hydrogel-based formulation technology.
Ocular Therapeutix's first commercial drug product, DEXTENZA, is
FDA-approved for the treatment of ocular inflammation and pain
following ophthalmic surgery.

Ocular Therapeutix reported a net loss and comprehensive loss of
$155.64 million for the year ended Dec. 31, 2020, compared to a net
loss and comprehensive loss of $86.37 million for the year ended
Dec. 31, 2019.  As of June 30, 2021, the Company had $230.71
million in total assets, $150.46 million in total liabilities, and
$80.25 million in total stockholders' equity.


P&L DEVELOPMENT: Fitch Assigns B Rating on Sr. Secured Notes
------------------------------------------------------------
Fitch Ratings has assigned a 'B'/'RR3' rating to P&L Development,
LLC's five-year add-on senior secured notes and affirmed the Issuer
Default Ratings (IDRs) of P&L Development Holdings, LLC (PLD) and
P&L Development, LLC at 'B-'. The Rating Outlook for both companies
is revised to Stable from Positive. The Stable Outlooks reflect
expected deleveraging through growth in EBITDA as the company
onboards new contracts and the headwinds of pandemic on cough/cold
products and store foot traffic abate.

The $50 million of proceeds will be used to repay the $40 million
outstanding ABL revolver borrowings and to provide additional
liquidity. The refinancing is expected to moderately increase
leverage with PLD expected to have approximately $485 million of
debt outstanding after the refinancing plus $95 million of
preferred equity. PLDH had approximately $453 million of debt
outstanding plus $92.6 million of preferred equity at Dec. 31,
2020.

Fitch has withdrawn the rating P&L Development, LLC's term loan as
it was prepaid with the proceeds of issuance of the secured notes
in November 2020.

KEY RATING DRIVERS

Coronavirus Headwinds: Coronavirus has caused some temporary
challenges and dislocations in PLD's end markets. During the first
half of 2021, there was a very mild cough and cold season, lower
retail foot traffic and destocking from the significant stocking in
2020. Fitch expects recovery in the second half of 2021 as people
return to work, commute and travel. The company has retained all of
its customers and secured additional supply contracts that should
support near- and intermediate-term growth.

Deleveraging Requires Profitable Growth: Fitch assumes that the
company will deleverage primarily through EBITDA growth. The
company will need to execute on its legacy business, as well as
successfully build the Teva OTC business. nicotine replacement
therapy (NRT) products, private-label Voltaren gel and the
continued growth of docosanol. The company has attracted Walgreens,
CVS, Walmart and Rite Aid and others as customers. The company also
has good product pipeline and has garnered new supply contracts for
other new products. In addition, the company continues to focus
achieving operating efficiencies.

Revenue Concentration: PLD has significant customer revenue
concentration, while its product revenue concentration is less
concerning. The acquisition of Teva OTC and the reclaiming of Avema
did not materially change the company's customer concentration but
it modestly reduced product concentration. The company generates
100% of its revenues in the U.S.

Dependable Demand: Consumer health care products benefit from
relatively reliable demand. Sales tend to be recession-resistant as
most people prioritize health care needs. They can be purchased
without a physician's prescription and offer relief for some
non-critical medical issues. In addition, private label brands
offer less costly alternatives to brand-name products, attracting
cost-conscious consumers, while at the same time offering higher
margins to retailers.

No Third-Party Payers: In contrast to generic prescription drug
manufacturers, consumer OTC products makers do not face pricing
pressure from large third-party payers. However, they still must
contend with customers that are tough negotiators because of their
operational scale, such as Walmart, Kroger, Walgreens and CVS.
Nevertheless, there is significantly less focus by lawmakers,
activists and the public on private-label consumer OTC product
pricing.

Quality Track Record: Product quality and reliability of supply are
also important to PLD's customers. PLD stated that it has never
lost a customer or had a major quality issue. The company
emphasizes that it focuses on the three most important factors that
its customers consider -- quality, reliability of supply and
providing a backup to the overwhelmingly dominant supplier in the
market, Perrigo. Pricing in the segment is important but appears
rational, given the overwhelming dominance of the largest player,
Perrigo, and the much smaller second-largest player, PLD.

Small Scale: PLD is significantly smaller than its largest
competitor, Perrigo, which generates more than ten times the
revenue that PLD generates. Scale is important in terms of cost,
distribution capabilities and retail shelf space. Nevertheless, the
company appears to have carved out a niche in the space. However,
targeted acquisitions and collaborations will likely be necessary
longer-term to generate profitable growth.

FCF to Turn Positive: Fitch forecasts that PLD will generate
meaningfully positive annual FCF during the forecast period.
COVID-19 provided some tailwinds early-on in 2020, but stressed the
cough and cold season thereafter. Fitch expects this trend to
reverse later in 2021 cough and cold season is less affected by the
pandemic and PLD works down inventory.

DERIVATION SUMMARY

PLD's (B-/Stable) is significantly smaller in scale and operates
with much lower margins relative to peers Mallinckrodt, Endo and
Bausch Health (B/Negative). The company is smaller by a factor
greater than 10x than its nearest competitor, Perrigo Plc. However,
the pricing environment for PLD is much less onerous than that of
prescription drug manufacturers (Mallinckrodt, Endo, Bausch
Health). Given the large differences in scale partly offsetting the
relatively benign pricing environment. As such, Fitch believes the
leverage sensitivities for PLD should be somewhat (0.5x-1.0x)
tighter than its three larger peers.

Perrigo Plc is also much larger than PLD and far more diversified
with respect to products and geographies. However, their products
and customers are fairly similar.

KEY ASSUMPTIONS

-- Mid-single-digit organic revenue growth during the forecast
    period.

-- Margins improving to a favorable sales mix shift driven new
    product launches and cost reduction.

-- FCF to turn positive in late 2021 and during the remainder of
    the forecast period.

-- Leverage (total debt/EBITDA) declining to 6.0x by 2022,
    primarily due to EBITDA growth.

RATING SENSITIVITIES

Developments that may, individually or collectively, lead to
positive rating action:

-- Solid execution on PLD's legacy business and continued
    advancement of the Teva portfolio, accompanied by strong FCF;

-- Gross leverage (total debt/EBITDA) to remain durably at or
    below 6.0x.

Developments that may, individually or collectively, lead to
negative rating action:

-- Pressure on the credit profile stemming from operational
    stress, leading to increasing leverage without the prospect of
    a timely turnaround;

-- Persistently negative operational trend that would strain FCF,
    making it difficult to execute on business development
    activities;

-- Resulting leverage (total debt/EBITDA) expected to remain
    durably above 7.0x.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.

LIQUIDITY AND DEBT STRUCTURE

Sufficient Liquidity, Light Maturities: Fitch expects PLD to
maintain adequate liquidity throughout the forecast period. The
company will have full availability on its $85 million ABL revolver
after the current add-on issuance. In addition, Fitch looks for PLD
to return to positive cash generation in late 2021 and after, owing
primarily to contributions from new contract wins and some
abatement from the COVID-19 related headwinds. Debt maturities are
light, with major maturities in 2025 and the ABL revolver in 2024.

Recovery Analysis

In accordance with Fitch's Recovery Rating (RR) methodology, issue
ratings are derived from the IDR and the relevant RR, Fitch's
recovery analysis assumes a going-concern enterprise value for a
reorganized firm of approximately $350.4 million. The alternative
is a liquidation value of $139.7 million. Fitch utilizes the
greater of the two in its recovery analysis.

The analysis employs a restructured EBITDA of $58.4 million,
representing a reorganization scenario but incorporating the some
of the expected performance of the recent manufacturing agreement
with Walmart and other large customers, regarding NRT, gummy dosage
forms, mouthwash, etc. Fitch assumes in the scenario would include
a reduction in ongoing cost structure and select but not
significant asset sales. The company would likely exit or shutter
small unprofitable business lines.

An EBITDA multiple of 6.0x is used to calculate the enterprise
value. This is in-line than the average corporate multiple of 6x
and at the lower end of the 6.0x-7.0x range for smaller, high-yield
pharmaceutical firms. This may be slightly conservative, given the
relatively less-scrutinized pricing environment and potentially
onerous litigation profile compared to prescription drug
manufacturers. However, PLD is significantly smaller in scale than
its largest peer, Perrigo.

Acquisition multiples in the sector range from mid-single digits to
mid-teens, depending on the attractiveness of the asset in terms of
the exclusivity, diversity and growth potential of the target's
product portfolio. However, PLD acquired the Teva OTC business for
roughly 3x EBITDA. This is likely due to Teva viewing this business
as non-core and focusing on its other segments.

The ABL revolver has outstanding recovery prospects (91%-100%) in a
reorganization scenario assuming a $51 million drawn, which maps to
a 'BB-'/'RR1' rating, three notches above the IDR.

The secured notes have strong recovery prospects (51%-70%) in a
reorganization scenario assuming $465 million outstanding, which
maps to a 'B'/'RR3' rating, one notch above the IDR.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.

ISSUER PROFILE

PLD manufactures, packages and sells private-label consumer health
products. The portfolio of products includes medicines to treat
pain, allergies, digestive disorders, insomnia, cough/cold and
motion sickness. The company also makes products used for first
aid, electrolyte replacement, diagnostics, nutrient/vitamin
gummies, supplements, creams/lotions, smoking cessation and
nutritional shakes.


P&L DEVELOPMENT: Moody's Alters Outlook on B3 CFR to Negative
-------------------------------------------------------------
Moody's Investors Service changed the rating outlook for P&L
Development, LLC ("PLD") to negative from stable. At the same time
Moody's affirmed PLD's Corporate Family Rating at B3 and its
Probability of Default Rating at B3-PD. Moody's also affirmed the
B3 rating for the company's existing $415 million senior secured
notes due November 2025. PLD is seeking to add on $50 million to
its senior secured notes. Proceeds from the add on will be used to
repay $40 million outstanding on the company's $85 million ABL
revolver and add $10 million of balance sheet cash. Upon close,
this transaction will have a positive effect on liquidity since PLD
will have near full access to its revolver.

The change in the rating outlook to negative from stable reflects
Moody's view that PLD's debt to EBITDA leverage (including $95
million of puttable preferred stock as debt) will remain high over
the next 6-12 months. Moody's estimates debt to EBITDA at about
11.0x for the latest twelve months ending March 31, 2021. Moody's
projects leverage will decline to about 10.0-10.5x over the next
6-12 months. High financial leverage follows the company's
continued weaker than anticipated sales and earnings. As a result,
leverage has not declined as expected following the debt financed
acquisitions of Avema Pharma Solutions in late 2020 or of the Teva
nicotine replacement therapy ("NRT") and over-the-counter ("OTC")
product portfolio in June 2019. Recent lower earnings reflect in
part weaker than anticipated performance from the company's
contract with a branded manufacturer of hand sanitizer. Earnings
were also adversely impacted by lower sales related to the
company's cough, cold and flu product offerings as consumers
continue to wear masks to fight the pandemic, as well as an
intensely competitive OTC product landscape. Free cash flow is
negative in part reflecting lower earnings on recent acquisitions
and new business wins, and elevated capital spending, launch costs
and working capital to support the new business rollout. Negative
free cash flow has weakened liquidity through meaningful continued
revolver usage, a trend Moody's expects will continue if the
company does not significantly improve free cash flow. Moody's also
expects the revolver to be used to fund the company's semi-annual
interest expense. The outlook also reflects Moody's belief that PLD
faces high execution risk in a number of its future growth
initiatives.

The affirmation of the B3 CFR reflects Moody's expectation that PLD
will maintain a strong position in store branded over the counter
(OTC) products and that new business wins have the potential to
reduce leverage if well executed. While there is some seasonality
related to its cough, cold and allergy products, demand for PLD's
OTC products is fundamentally stable. In addition, PLD has adequate
liquidity including the repayment of revolver borrowings as part of
the proposed refinancing. PLD's ABL is subject to a springing
minimum fixed charge coverage ratio covenant of 1.0x that is tested
when availability is less than 15% (or $12.75 million). Moody's
does not anticipate the covenant to be tested over the next year.

Affirmations:

Issuer: P&L Development, LLC

Corporate Family Rating, Affirmed B3

Probability of Default Rating, Affirmed B3-PD

Gtd. Senior Secured Regular Bond/Debenture (including proposed
upsize), Affirmed B3 (LGD4)

Outlook Actions:

Issuer: P&L Development, LLC

Outlook, Changed To Negative From Stable

RATINGS RATIONALE

PLD's B3 CFR reflects the company's high financial leverage of
about 11.0x debt-to-EBITDA (including $95 million of puttable
preferred stock as debt). The rating also reflects the company's
more moderate scale, with revenues of about $462 million, as
compared to other larger and better capitalized competitors. PLD
has limited geographic diversity, with the majority of its revenues
derived from US markets, where the competitive landscape for store
brand over-the-counter products ("OTC") is intense. The company
continues to win new business and add to its portfolio through
acquisitions, but lower-than-expected earnings from the launches
are contributing to consistently negative free cash flow. Partially
offsetting these risks are PLD's attractive growth prospects for
nicotine replacement therapy products and other OTC marketed
products in an environment where health care costs will continue to
be a focus for consumers.

Moody's estimates that PLD's financial leverage will remain high
and improve modestly over the next year through EBITDA growth.
Earnings growth will benefit from the company's expanded marketed
products, examples of which include offerings from NRT, Docosonal
and Voltaren product lines. The company's OTC business will
continue to benefit from higher (although lower margin) demand for
isopropyl alcohol, hydrogen peroxide, witch hazel and Epsom salt
over the next 12 months because consumers are focused on
cleanliness and health.

PLD will have adequate liquidity in the year ahead largely
supported by near full availability on the company's $85 million
ABL facility following successful completing of its add on note
offering.

The coronavirus outbreak and the government measures put in place
to contain it continue to disrupt economies and credit markets
across sectors and regions. Although an economic recovery is
underway, it is tenuous, and its continuation will be closely tied
to containment of the virus. As a result, there is uncertainty
around Moody's forecasts. Moody's regards the coronavirus outbreak
as a social risk under its ESG framework, given the substantial
implications for public health and safety.

PLD's financial policies are aggressive including high leverage and
debt used for acquisitions and growth initiatives. However, Moody's
believes the company has a long-term investment focus under
majority family ownership.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

PLD's ratings could be downgraded if the company is unable to
meaningfully reduce financial leverage, experiences significant
operational disruption, if financial performance does not
meaningfully improve, or if free cash flow remains weak or
negative. The ratings could also be downgraded if the company's
financial policy becomes increasingly aggressive, including
additional debt funded acquisitions. Moody's could also downgrade
ratings if PLD's liquidity deteriorates or if the company is unable
to reduce and sustain debt to EBITDA (including puttable preferred
stock) below 7.5x over the next year.

The rating could be upgraded if PLD effectively manages its growth
strategy, meaningfully improves operating performance and generates
consistent and comfortably positive free cash flow. An upgrade
would also require debt to EBITDA (including the puttable preferred
stock) be sustained below 6.5x.

The principal methodology used in these ratings was Consumer
Packaged Goods Methodology published in February 2020.

Headquartered in Westbury, NY, PLD manufactures, packages and
distributes over-the-counter private label products across multiple
categories. The company provides contract manufacturing and
contract packaging services to major OTC and nutritional companies
in the United States. PLD is majority owned by the Singer family
with Steven Inc., a long-term equity holder of PLD, as a minority
shareholder. The company generates annual revenues of about $462
million.


PG&E CORP: Ordered by Court to Explain Role in 2021 Fires
---------------------------------------------------------
Joel Rosenblatt of Bloomberg News reports that PG&E Corp. was
ordered by a judge to identify each of the California wildfires its
equipment started this year, and to explain in particular what role
the utility played in igniting the Fly fire, which has merged with
the much larger Dixie blaze.  U.S. District Judge William Alsup,
who oversees PG&E's criminal probation, issued the order late
Friday and asked for a response by noon on Aug. 16.  Alsup demanded
details about the equipment and vegetation in the area of where the
Fly and Dixie fires started.

                       About PG&E Corporation

PG&E Corporation (NYSE: PCG) -- http://www.pgecorp.com/-- is a
Fortune 200 energy-based holding company, headquartered in San
Francisco. It is the parent company of Pacific Gas and Electric
Company, an energy company that serves 16 million Californians
across a 70,000-square-mile service area in Northern and Central
California.

As of Sept. 30, 2018, the Debtors, on a consolidated basis, had
reported $71.4 billion in assets on a book value basis and $51.7
billion in liabilities on a book value basis.

PG&E Corp. and Pacific Gas employ approximately 24,000 regular
employees, approximately 20 of whom are employed by PG&E Corp. Of
Pacific Gas' regular employees, approximately 15,000 are covered by
collective bargaining agreements with local chapters of three labor
unions: (i) the International Brotherhood of Electrical Workers;
(ii) the Engineers and Scientists of California; and (iii) the
Service Employees International Union.

On Jan. 29, 2019, PG&E Corp. and its primary operating subsidiary,
Pacific Gas and Electric Company, filed voluntary Chapter 11
petitions (Bankr. N.D. Cal. Lead Case No. 19-30088).

PG&E Corporation and its regulated utility subsidiary, Pacific Gas
and Electric Company, said they are facing extraordinary challenges
relating to a series of catastrophic wildfires that occurred in
Northern California in 2017 and 2018. The utility said it faces an
estimated $30 billion in potential liability damages from
California's deadliest wildfires of 2017 and 2018.

Weil, Gotshal & Manges LLP and Cravath, Swaine & Moore LLP are
serving as PG&E's legal counsel, Lazard is serving as its
investment banker and AlixPartners, LLP is serving as the
restructuring advisor to PG&E. Prime Clerk LLC is the claims and
noticing agent.

In order to help support the Company through the reorganization
process, PG&E has appointed James A. Mesterharm, a managing
director at AlixPartners, LLP, and an authorized representative of
AP Services, LLC, to serve as Chief Restructuring Officer. In
addition, PG&E appointed John Boken also a Managing Director at
AlixPartners and an authorized representative of APS, to serve as
Deputy Chief Restructuring Officer. Mr. Mesterharm, Mr. Boken and
their colleagues at AlixPartners will continue to assist PG&E with
the reorganization process and related activities.  Morrison &
Foerster LLP, as special regulatory counsel. Munger Tolles & Olson
LLP, as special counsel.

The Office of the U.S. Trustee appointed an official committee of
creditors on Feb. 12, 2019.  The Committee retained Milbank LLP as
counsel; FTI Consulting, Inc., as financial advisor; Centerview
Partners LLC as investment banker; and Epiq Corporate
Restructuring, LLC as claims and noticing agent.

On Feb. 15, 2019, the U.S. trustee appointed an official committee
of tort claimants. The tort claimants' committee is represented by
Baker & Hostetler LLP.


PGX HOLDINGS: S&P Withdraws Long-Term 'CCC+' Issuer Credit Rating
-----------------------------------------------------------------
S&P Global Ratings withdrew all of its ratings on PGX Holdings
Inc., including its long-term 'CCC+' issuer credit rating, at the
issuer's request. The company recently refinanced all of its debt.

At the time of the withdrawal, S&P's ratings outlook on PGX
Holdings Inc. was stable.



PRIME ECO: Seeks to Employ Margaret McClure as Bankruptcy Counsel
-----------------------------------------------------------------
Prime Eco Group, Inc. and Prime Eco Supply, LLC seek approval from
the U.S. Bankruptcy Court for the Southern District of Texas to
hire The Law Office of Margaret M. McClure to serve as legal
counsel in its Chapter 11 case.

The Debtors need the firm's legal advice with respect to their
powers and duties in the continued operation of their business and
management of their property, and other legal services which may be
necessary in their bankruptcy cases.

Margaret McClure, Esq., the firm's attorney who will be providing
the services, and her paralegals will charge $400 per hour and $150
per hour, respectively.

The Debtors paid a total of $64,500 retainer fee to the firm.

Ms. McClure disclosed in a court filing that she is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

Ms. McClure can be reached at:

     Margaret M. McClure
     The Law Office of Margaret M. McClure
     25420 Kuykendahl Road, Suite B300-1043
     The Woodlands, TX 77375
     Tel.: (713) 659-1333
     Fax: (713) 658-0334
     Email: margaret@mmmcclurelaw.com
     
             About Prime Eco Group and Prime Eco Supply

Prime Eco Group, Inc. and Prime Eco Supply, LLC sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Texas Case
Nos. 21-32560 and 21-32561) on July 30, 2021. At the time of the
filing, Prime Eco Group disclosed $3,057,685 in assets and
$3,587,476 in liabilities while Prime Eco Supply disclosed $107,969
in assets and $527,681 in liabilities.  The Law Office of Margaret
M. McClure is the Debtor's legal counsel.


PURDUE PHARMA: Defends Sacklers Release in Bankruptcy Plan
----------------------------------------------------------
Daniel Gill of Bloomberg Law reports that Purdue Pharma LP's asked
a court to approve its Chapter 11 plan and overrule the Justice
Department and various states and cities' objections to releasing
the controlling shareholder family, the Sacklers, from legal
liability.

The reorganization plan "delivers on a promise they made on the
very first day of these chapter 11 cases—to turn over
substantially all of their assets for the benefit of their
claimants and to help individuals and communities across the United
States that have been affected by the opioid crisis," Purdue told
the U.S. Bankruptcy Court for the Southern District of New York.

The challenged releases play an "indispensable part" of the plan,
Purdue said in its Aug. 5, 2021 filing. The court will conduct a
hearing on plan confirmation beginning on Aug. 12, 2021.

Purdue's plan hinges on a controversial provision that would grant
liability releases to parties that are not themselves in
bankruptcy. The families of founders Raymond and Mortimer Sackler
would be shielded from future lawsuits related to the opioid crisis
in exchange for their contribution of more than $4.3 billion to pay
opioid victims' claims in the bankruptcy case.

Many opioid victims, municipalities, states, hospitals, and Native
American tribes have withdrawn prior objections to the settlement
that will provide the funds in exchange for release.

But some individual creditors, including a group of emergency room
physicians and opioid victims, continue to press their objections.

Several government entities—including nine states and the
District of Columbia, the Justice Department and its bankruptcy
watchdog branch, and some cities and municipalities—also continue
to oppose releasing liability for the Sacklers.

"The Sacklers, who bear a significant responsibility for the opioid
crisis, are solvent, non-debtor parties who are abusing the
bankruptcy system to avoid accountability for their actions," Sen.
Elizabeth Warren (D-Mass.) wrote in a letter last week to U.S.
Attorney General Merrick Garland.

Despite the holdout objections, the plan has creditors'
"overwhelming support," the opioid manufacturer said.

Under the plan, Purdue Pharma LP will cease to exist. Its assets
will be taken over by a new company owned by trusts that will work
to abate the harm caused by Purdue's contributions to the opioid
crisis, Purdue said.

The new company will continue developing and producing opioid
overdose treatments. It will distribute them at cost and also will
seek to expand non-opioid product businesses, according to the
filing.

                    About Purdue Pharma LP

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers. More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
19-23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation facing the Company.

The Company's consolidated balance sheet at Aug. 31, 2019, showed
$1.972 billion in assets and $562 million in liabilities.

U.S. Bankruptcy Judge Robert Drain, in White Plains, New York, has
been assigned to oversee Purdue's Chapter 11 case.

Davis Polk & Wardwell LLP and Dechert LLP are serving as legal
counsel to Purdue. PJT Partners is serving as investment banker,
and AlixPartners is serving as financial advisor. Prime Clerk LLC
is the claims agent.


QUANTUM CORP: Incurs $4.2 Million Net Loss in First Quarter
-----------------------------------------------------------
Quantum Corporation filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $4.15 million on $89.10 million of total revenue for the three
months ended June 30, 2021, compared to a net loss of $10.74
million on $73.31 million of total revenue for the three months
ended June 30, 2020.

As of June 30, 2021, the Company had $178.18 million in total
assets, $291.11 million in total liabilities, and a total
stockholders' deficit of $112.93 million.

Cash and cash equivalents were $24.6 million as of June 30, 2021,
compared to $33.1 million as of March 31, 2021.  Both balances
include $5.0 million in restricted cash required under the
Company's Credit Agreements, and $0.5 million and $0.7 million of
short-term restricted cash as of June 30, 2021, and March 31, 2021,
respectively.

Outstanding long-term debt as of June 30, 2021, was $81.3 million,
net of $8.8 million in unamortized debt issuance costs and $11.9
million in current portion of long-term debt.  This compares to
$90.9 million of outstanding debt as of March 31, 2021, net of $9.7
million in unamortized debt issuance costs and $1.9 million in
current portion of long-term debt.

Total interest expense was $3.9 million, compared to $5.7 million
for the three ended June 30, 2021, and March 31, 2021,
respectively.

Jamie Lerner, chairman and CEO, Quantum commented, "Demand in the
first fiscal quarter continued to be strong, with a significant
sequential increase in customer orders.  A large majority of these
orders were from hyperscale customers for products that are most
affected by the current supply constraints.  This dynamic has
caused our backlog to reach unprecedented levels.  Historically,
our backlog has been 5% or less of our reported quarterly revenue.
As of the first fiscal quarter, our backlog has grown to $30
million, compared to approximately $14 million in the previous
quarter and $2 million in the year-ago period.  While not all
backlog represents potential revenue in the following quarter, it
demonstrates how robust demand is across our business, while also
providing us significantly higher levels of visibility."

"Although the industry supply constraints have created near-term
revenue headwinds, we continue to make progress on our long-term
business transformation.  Following the quarter close, we announced
the acquisition of Pivot3's video surveillance portfolio and
assets, which is key step towards establishing a strong share
position in the video surveillance market with a leading portfolio
of hardware and software solutions.  This acquisition will add over
500 customers and is projected to be slightly accretive to EBITDA
through the remainder of fiscal 2022.  More recently, we
successfully refinanced our remaining outstanding term debt,
allowing for more favorable borrowing terms and reducing future
cash interest expense to help drive improvements to our bottom
line."

Mr. Lerner concluded by saying, "I am very pleased with our team's
continued execution and the increasing demand we are seeing for our
products and software solutions.  We are building upon our market
share leadership position in the hyperscale market.  Overall, I'm
confident we are taking the right steps to position the Company for
long-term sustainable growth and profitability.  And with the
recent refinance of debt now behind us, we have completed an
important milestone in our financial and business transformation,
providing greater operating flexibility on our path to becoming the
leader in video and unstructured data storage solutions."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/709283/000070928321000043/qtm-20210630.htm

                        About Quantum Corp.

Based in San Jose, California, Quantum Corp. (NYSE:QTM) --
http://www.quantum.com-- provides technology and services that
stores and manages video and video-like data delivering the
industry's top streaming performance for video and rich media
applications, along with low cost, high density massive-scale data
protection and archive systems.  The Company helps customers
capture, create and share digital data and preserve and protect it
for decades.

Quantum reported a net loss of $35.46 million for the year ended
March 31, 2021, compared to a net loss of $5.21 million for the
year ended March 31, 2020. As of March 31, 2021, the Company had
$194.92 million in total assets, $307.17 million in total
liabilities, and a total stockholders' deficit of $112.25 million.


RADIUS INTELLIGENCE: Files for Chapter 7 Bankruptcy
---------------------------------------------------
Ted Andersen of San Francisco Business Times reports that a San
Francisco company that had raised over $100 million making sales
intelligence tools for marketers to reach businesses has filed for
Chapter 7 bankruptcy.

Radius Intelligence reported liabilities between $1 million and $10
million and assets between $0 and $50,000, according to the filing
made Thursday in U.S. Bankruptcy Court in San Jose. The company
said it has between 50 and 99 creditors.

Founded more than a decade ago, Radius used data science as its
secret sauce in a highly competitive field of business marketing
platforms, offering customers of its cloud service access to more
than 50 billion data points on 20 million-plus U.S. businesses
while integrating and analyzing data from other customer
relationship and marketing automation software.

Headquartered at 353 Sacramento St. in the Financial District, the
company has an interesting story.  Former CEO and co-founder Darian
Shirazi was one of Facebook's first 10 hires, working at the
then-fledgling social network from 2005 until 2007.  He left to
attend UC Berkeley to study philosophy and computer science as an
undergrad, but dropped out after two years.

In 2008, he decided to start his own company, Fwix, an aggregator
for software developers and media publishers.  In April 2012, the
company announced it had rebranded as Radius and changed its
business model.

In a 2013 venture funding, Radius raised $12.4 million from
American Express Ventures and Blue Run Ventures, and in September
that same year, Radius nabbed a $54.7 million Series C funding,
bringing its total funding at that time to roughly $80 million.

In 2014, Radius raised $13 million more led by Formation8 Partners.
Radius' investors also included BBVA Ventures, Stanford University,
Western Technology Investments, Founders Fund, Glynn Capital
Management, Slow Ventures, Yuan Capital, former Morgan Stanley
Chairman John Mack, former Microsoft Corporate Vice President
Charles Songhurst and entertainer and businessman Jared Leto.

Overall, the company had raised well over $100 million after its
last round, a Series D in 2015 worth $50 million and led by
Founders Fund and Salesforce Ventures.

Joel Carusone, who served as the company's CTO, became the new CEO
in 2018 when Shirazi left to pursue a career as an angel investor.
Radius was acquired by Kabbage — which is owned by American
Express — in 2019.

A list of creditors was not provided to the court, and the court on
Friday filed a mandate requiring that to be completed within two
weeks.

                   About Radius Intelligence

Radius Intelligence -- headquartered at 353 Sacramento St. San
Francisco, California -- provides sales and marketing intelligence
for targeting the small business market. The Company offers a
platform, enabling sales professionals to target and reach small
businesses through data, information, and insights. Radius
Intelligence serves customers in the State of California.

Radius Intelligence Inc. sought Chapter 7 protection (Bankr. N.D.
Ca. Case No. 21-30553) on August 5, 2021.  In its signed petition,
Radius estimated assets between $0 and $50,000 and estimated
liabilities between $1 million and $10 million.  The case is
handled by Honorable Judge Hannah L. Blumenstiel. Keith A.
McDaniels, of Keller & Benvenutti LLP, is the Debtor's counsel.


REGENTS COURT: Trustee Taps Tranzon Asset Advisors as Auctioneer
----------------------------------------------------------------
Allison Byman, the Chapter 11 trustee for Regents Court Investors,
LLC, received approval from the U.S. Bankruptcy Court for the
Southern District of Texas to hire Tranzon Asset Advisors to
conduct a public auction of the Debtor's property.  

The Debtor owns a tract of land that was developed into residential
lots.  The trustee wants the property sold in early September
before a secured creditor forecloses.

Tranzon Asset Advisors will be compensated for its services through
the collection of a 5 percent buyer's premium.

The firm can be reached through:

     Kelly D. Toney, CAI
     Tranzon Asset Advisors
     945 Mckinney St Ste 13384
     Houston, TX 77002
     Office: 270-769-0284
     Mobile: 713-816-1123
     Email: ktoney@tranzon.com

                   About Regents Court Investors

Regents Court Investors, LLC is a limited liability company formed
under the laws of the State of Texas for the purpose of acquiring
and developing a tract of property at 8940 Long Point Road,
Houston.

On May 31, 2021, an involuntary petition under Chapter 11 (Bankr.
S.D. Texas Case No. 21-31802) was filed against Regents Court
Investors by petitioning creditors Meredith Capital Corporation,
David William Hall Architecture, and Benchmark Engineering. Leonard
H. Simon, Esq., at Pendergraft & Simon, LLP, represents the
petitioning creditors.

Judge Jeffrey P. Norman oversees the Debtor's Chapter 11 case.

Allison D. Byman is the trustee appointed in the Debtor's case. The
trustee is represented by C. Alexander Higginbotham, Esq., at Byman
& Associates, PLLC.


RESTIERI HEALTHCARE: Seeks Cash Collateral Access
-------------------------------------------------
Restieri Healthcare Services, LLC asks the U.S. Bankruptcy Court
for the Middle District of Florida, Jacksonville Division, for
authority to use cash collateral and provide adequate protection.

CRF Small Business Loan Company LLC may claim a security interest
in all accounts by virtue of a UCC-1 financing statement filed
August 16, 2019 with the Florida Secured Transaction Registry as
Number 201909431549.

The U.S. Small Business Administration may claim a security
interest in all proceeds on future sales by virtue of a UCC-1
financing statement filed June 29, 2020 with the Florida Secured
Transaction Registry as Number 202002683148.

If enforceable, properly perfected, and valid, the Debtor says the
CRF and SBA UCCs could possibly encumber the Debtor's Cash
Collateral. However, the Debtor neither acknowledges nor contests
the CRF or SBA having perfected, valid liens or security interests
upon any of the assets of the Debtor and expressly reserves its
rights to later do so.

To provide adequate protection, the Debtor proposes:

     A. All income derived from the business operations of the
Debtor will be depositing in a new debtor-in-possession bank
account.

     B. The Debtor will disburse funds from the Account to pay the
customary and reasonable expenses associated with the operation of
the Debtor's business in accordance with the budget. The Debtor
requests that a variance of expense line items of up to 10% per
month and cumulatively per month of up to 10% be permitted without
the need for further order of the Court.

     C. Furthermore, CRF and the SBA will be granted a replacement
lien in any Cash Collateral acquired by the Debtor subsequent to
the Petition Date to the same extent, priority and validity of its
respective liens in such Cash Collateral as of the Petition Date.

A copy of the order and the Debtor's budget is available at
https://bit.ly/2VMqwDt from PacerMonitor.com.

The Debtor projects $41,000 in fee for service income and $28,005
in total expenses.

              About Restieri Healthcare Services, LLC

Restieri Healthcare Services, LLC provides regenerative therapy for
joint pain and other conditions which services the Gainesville,
Florida area. The Debtor sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 3:21-bk-01843) on
July 28, 2021. In the petition signed by Dr. Lawrence T. Restie,
manager, the Debtor disclosed up to $1 million in assets and up to
$10 million in liabilities.

Jason A. Burgess, Esq. at The Law Offices of Jason A. Burgess, LLC
is the Debtor's counsel.



ROCKVILLE CENTRE DIOCESE: Says Sexual Abuse Claims Beyond 150
-------------------------------------------------------------
Law360 reports that Long Island's Roman Catholic diocese told a New
York bankruptcy judge Monday, August 9, 2021. it had received more
than 150 claims by alleged sexual abuse victims in the course of
its Chapter 11 case, with more coming in as a state statutory
deadline approaches on Saturday, August 14, 2021.

At a virtual status conference the diocese told U.S. Bankruptcy
Judge Shelley Chapman and its insurance carriers that it is in the
process of sorting through the 150 to 200 proofs of claim for
sexual abuse allegations it had received so far, with a higher rate
of filing expected this week as the statute of limitations looms.

                    About The Roman Catholic Diocese of
                          Rockville Centre, New York

The Roman Catholic Diocese of Rockville Centre, New York, is the
seat of the Roman Catholic Church on Long Island. The Diocese has
been under the leadership of Bishop John O. Barres since February
2017. The State of New York established the Diocese as a religious
corporation in 1958. The Diocese is one of eight Catholic dioceses
in New York, including the Archdiocese of New York. The Diocese's
total Catholic population is approximately 1.4 million, roughly
half of Long Island's total population of 3.0 million. The Diocese
is the eighth largest diocese in the United States when measured by
the number of baptized Catholics.

The Roman Catholic Diocese of Rockville Centre, New York, filed a
Chapter 11 petition (Bankr. S.D.N.Y. Case No. 20-12345) on Sept.
30, 2020. The Diocese was estimated to have $100 million to $500
million in assets and liabilities as of the filing.

The Hon. Shelley C. Chapman is the case judge.

The Diocese tapped Jones Day as legal counsel, Alvarez & Marsal
North America, LLC, as restructuring advisor, and Sitrick and
Company, Inc., as communications consultant. Epiq Corporate
Restructuring, LLC, is the claims agent.

The U.S. Trustee for Region 2 appointed a committee to represent
unsecured creditors in the Chapter 11 case. The committee retained
Pachulski Stang Ziehl & Jones LLP as its legal counsel and Ruskin
Moscou Faltischek, PC as special real estate counsel.



RYAN 1000: Seeks to Hire Kerkman & Dunn as Bankruptcy Counsel
-------------------------------------------------------------
Ryan 1000, LLC and Ryan 8641, LLC seek approval from the U.S.
Bankruptcy Court for the Eastern District of Wisconsin to hire
Kerkman & Dunn to serve as legal counsel in their Chapter 11
cases.

The Debtors originally applied for authorization to employ Strouse
Law Offices as their bankruptcy counsel but the court denied the
application on the grounds that the firm had a conflict of interest
and did not demonstrate the requisite competence level to represent
the Debtors' estates.

Kerkman & Dunn will render these services:

     a. advise the Debtors with respect to their duties and powers
under the Bankruptcy Code;

     b. advise the Debtors on the conduct of their bankruptcy
cases, including the legal and administrative requirements of
operating in Chapter 11;

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

     d. prosecute actions on behalf of the Debtors, defend actions
commenced against the Debtors, and represent the Debtors' interests
in negotiations concerning litigation in which they are involved;

     e. prepare legal papers;

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

     g. appear before the court;

     h. assist the Debtors in preparing, negotiating and
implementing a Chapter 11 plan, and advise with respect to any
rejection or reformulation of the plan;

     i. assist the Debtors in state court actions related to
judgments and collection actions initiated by or against the
Debtors that are necessary for an effective reorganization; and

     j. perform all other necessary legal services.

The firm's hourly rates are as follows:

     Jerome R. Kerkman         $475 per hour
     Evan P. Schmit            $375 per hour
     Gregory M. Schrieber      $350 per hour
     Averi A. Niemuth          $290 per hour
     Nicholas W. Kerkman       $225 per hour
     Paraprofessionals         $1250 per hour

Kerkman & Dunn is a "disinterested person" within the meaning of
Section 101(14) of the Bankruptcy Code, according to court papers
filed by the firm.

The firm can be reached through:

     Evan P. Schmit
     Kerkman & Dunn
     839 N. Jefferson St., Suite 400
     Milwaukee, WI 53202-3744
     Phone: 414.277.8200
     Facsimile: 414.277.0100
     Email: eschmit@kerkmandunn.com

                   About Ryan 1000 and Ryan 8641

Ryan 1000, LLC, a single asset real estate company based in
Milwaukee, Wisc., and Ryan 8641, LLC filed petitions under
Subchapter V of Chapter 11 of the Bankruptcy Code (Bankr. E.D.
Wisc. Lead Case No. 21-21326) on March 15, 2021.  At the time of
the filing, the Debtors disclosed up to $50,000 in both assets and
liabilities.  Judge Beth E. Hanan oversees the cases.  Kerkman &
Dunn represents the Debtor as legal counsel.


SAMARCO MINERACAO: Creditors Provide Better Loan Than Vale-BHP
--------------------------------------------------------------
Mariana Durao and Cristiane Lucchesi of Bloomberg News report that
the Samarco iron ore venture in Brazil can't accept a loan offered
by its owners Vale SA and BHP Group because the proposed interest
rate is higher than an offer from creditors, according to the judge
overseeing the case.  Samarcowas offered 1.18 billion reais ($226
million) in debtor-in-possession financing from Vale and BHP at
9.5% interest.  But creditors including York Global Finance offered
the same amount at a rate of 9%. The company called the latter
proposal "inconsistent" and lacking important details.

                    About Samarco Mineracao SA

Samarco Mineracao SA is a Brazilian mining joint venture between
BHP Group and Vale SA. erves as an iron ore processing company. The
company provides blast furnace, direct reduction, sinter feed, as
well as low and normal silica content pellets.

On April 9, 2021, the Debtor filed a voluntary petition for
judicial reorganization in the 2nd Business State Court for the
Belo Horizonte District of Minas Gerais in Brazil pursuant to
Brazilian Federal Law No. 11,101 of February 9, 2005.

Samarco Mineracao filed for Chapter 15 bankruptcy recognition
(Bankr. S.D.N.Y. Case No. 21-10754) on April 19, 2021, in New York,
to seek U.S. recognition of its Brazilian proceedings.

The Debtor's U.S. counsel:

      Thomas S. Kessler
      Cleary Gottlieb Steen & Hamilton LLP
      Tel: 212-225-2000
      E-mail: tkessler@cgsh.com





SAVI TECHNOLOGY: Taps Benjamin Smith as Bankruptcy Counsel
----------------------------------------------------------
Savi Technology, Inc. seeks approval from the U.S. Bankruptcy Court
for the Eastern District of Virginia to hire Benjamin P. Smith of
Shulman, Rogers, Gandal, Pordy & Ecker, P.A. to serve as legal
counsel in its Chapter 11 case.

Mr. Smith shall be paid at an hourly rate ranging from $335.00 to
$625.00.

The Debtor paid retainer fee in the amount of $100,000.00 to the
law firm.

Mr. Smith, the firm's attorney who will be providing the services,
disclosed in a court filing that he is a "disinterested person" as
the term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Benjamin P. Smith, Esq.
     Shulman, Rogers, Gandal, Pordy & Ecker, P.A.
     12505 Park Potomac Avenue, Suite 600
     Potomac, MD 20854
     Tel.: (301) 230-5241
     Fax: (301) 230-2891
     Email: bsmith@shulmanrogers.com

       About Savi Technology

Savi Technology, Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Pa. Case No. 21-11369) on August 4,
2021. Rosemary Johnston, acting president and chief executive
officer, signed the petition. At the time of the filing, the Debtor
disclosed $1 million to $10 million in assets and $10 million to
$50 million in liabilities.

Judge Ashely M. Chan oversees the case.

The Debtor tapped Benjamin P. Smith of Shulman, Rogers, Gandal,
Pordy & Ecker, P.A. as legal counsel.


SCOTTS MIRACLE-GRO: Moody's Rates $400MM Sr. Unsecured Notes 'Ba3'
------------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating to The Scotts
Miracle-Gro Company's $400 million senior unsecured notes due 2032.
All other ratings are unaffected, including Scott's Ba2 Corporate
Family Rating. The outlook remains stable and the Speculative Grade
Liquidity Rating remains SGL-2.

Net proceeds from the notes will be used to repay senior secured
revolving credit facility borrowings and for general working
capital purposes. Because revolver borrowings are highly seasonal
with a peak in the spring and would likely have been repaid through
cash generation during the summer, terming out the borrowings
through the notes offering leads to a more permanent increase in
debt, a credit negative. Scotts' earnings growth during the
pandemic has kept leverage moderate, but the company continues to
make sizable aggressive shareholder distributions while also making
speculative investments such as the purchase of a stake in a
Canadian fund that invests in cannabis companies. The market for
cannabis-related products is rapidly evolving with good growth
potential, but a broad array of potential competitors and
dependence on regulatory developments that create high investment
risk. Such actions are leading to rising debt and the potential for
leverage to increase if earnings pull back from the elevated levels
experienced during the coronavirus.

Scotts continues to exhibit strong growth, driven mainly by its
hydroponics segment ("Hawthorne") which represents about 26% of
overall sales. In 3Q 2021, Scotts reported an 8% increase in YoY
sales, comprised of a 48% increase at Hawthorne and a 4% decline in
the US Consumers segment. The US Consumers segment faced difficult
comparisons as consumers, who were forced to quarantine last year
because of the coronavirus pandemic, drove strong sales growth in
3Q20 in lawn and gardening products. Hawthorne continues to be an
area of investment for the company. In 3Q21, Scotts announced the
acquisition of a company that provides products and accessories for
water filtration and purification, ("Hydrologic Purification
Systems"), for $65 million. In addition, the company also recently
announced the creation of a newly formed subsidiary, ("The
Hawthorne Collective"), which will focus on strategic investments
in the cannabis industry that aren't currently pursued by
Hawthorne. The Hawthorne Collective will be making an investment in
a Toronto based cannabis investment and acquisition firm, ("RIV
Capital"), through a six-year $150 million convertible note that
accrues interest at 2.03% annually for the first two years and
includes additional follow-on investment rights. Upon conversion,
Scotts would own approximately 42% of RIV Capital through Hawthorne
Collective. Moody's expects Scotts to finance the acquisition of
Hydrologic Purification Systems and its investment in RIV Capital
through cash and borrowings under its revolving credit facility.
Furthermore, Moody's projects that Scotts will generate good free
cash flow and maintain leverage within expectations for the rating
given the operating profile.

The following ratings/assignments are affected by the action:

New Assignments:

Issuer: The Scotts Miracle-Gro Company

Senior Unsecured Notes due 2032, Assigned Ba3 (LGD5)

RATINGS RATIONALE

Scotts' Ba2 Corporate Family Rating reflects its leading market
position within the fragmented lawn and garden industry. The
company's growth strategy in hydroponics supports the company's
credit profile, although it comes with risks as a portion of such
sales are to the cannabis industry that is in its early stages and
subject to volatility in the customer base and orders. The
company's commitment to brand support and product development also
benefit its credit profile. The credit profile is constrained by
moderately high financial leverage with debt/EBITDA at 2.7x pro
forma for the proposed offering, the high seasonality of earnings
and cash flows, weather dependency, and a highly concentrated
customer base. The credit profile is also constrained by social
risk arising from negative headlines surrounding the weed killer
Roundup that Scotts exclusively markets on behalf of Monsanto,
owned by Bayer AG, which may impact Scott's sales of these
products.

Moody's views Scotts' environmental risk as high as the company's
products are subject to local, state, federal and foreign laws and
regulations relating to environmental matters. Compliance with
environmental and other public health regulations or changes in
such regulations or regulatory enforcement priorities could
increase the company's costs of doing business or limit the ability
to market its products. Product safety and safeguarding employees
and customers is a social risk.

Moody's views Scotts' governance risk as balanced. As a public
company, Scotts is subject to certain standards in terms of
transparency, disclosures, management accountability, and
compliance. The company is also committed to maintain a disciplined
financial policy with moderate leverage, but cash distributions to
shareholders are high including sizable special dividends and
periodic debt-funded acquisitions. Scotts' has a long-term leverage
target of 3.0x to 3.5x based on the company's calculations. Scott's
leverage stood at 2.2x on this basis as of the 12 months ended July
2021.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

The stable rating outlook reflects Moody's view that Scotts will
continue to modestly grow earnings, generate positive free cash
flow, and limit share repurchases and dividends such that
seasonally adjusted debt/EBITDA is sustained below 3.5x over the
next 12-18 months.

The rating could be upgraded if Scotts' operating performance
improves and credit metrics are sustained at strong levels. The key
credit metric driving an upgrade is seasonally adjusted debt/EBITDA
sustained below 2.5x.

The rating could be downgraded if financial metrics weaken due to
deteriorating operating performance or the company incurs a
material amount of debt to fund an acquisition or shareholder
distribution. The key credit metric driving a downgrade is
seasonally adjusted debt/EBITDA sustained above 3.5x.

The principal methodology used in these ratings was Consumer
Packaged Goods Methodology published in February 2020.

The Scotts Miracle-Gro Company is a manufacturer and marketer of
consumer lawn care and garden products as well as hydroponic
growing products. The publicly-traded company generates annual
revenue of approximately $4.5 billion.


SCOTTS MIRACLE-GRO: S&P Rates New $400MM Sr. Unsecured Notes 'B+'
-----------------------------------------------------------------
S&P Global Ratings assigned its 'B+' issue-level rating and '6'
recovery rating to The Scotts Miracle-Gro Co.'s proposed $400
million senior unsecured notes due 2032. The '6' recovery rating
indicates its expectation for negligible (0%-10%; rounded estimate:
0%) recovery in the event of a payment default. The company will
use the net proceeds from these notes for general corporate
purposes, including to fund potential acquisitions and strategic
opportunities. Pro forma for this transaction, Scotts will have
total debt of about $2.3 billion.

All of S&P's existing ratings on the company, including its 'BB'
issuer credit rating, remain unchanged.

S&P sid, "Our rating on Scotts incorporates it strong market
positions in the weed control, insect control, gardening landscape,
animal repellant, and grass seed categories of the lawn care
industry. The company has strong brand equity and a focused
portfolio of brands, including Scotts, Miracle-Gro, Ortho, and
Roundup. Scotts has continued to report solid consumer demand in
both its U.S. consumer and Hawthorne segments. The demand trends in
the lawn and garden industry remain robust due to continued
consumer interest in home maintenance and improvement. We expect
the momentum in this industry to continue in 2021 and anticipate
homeowners will spend more time on their lawns and gardens as many
relocate to the suburbs from cities and increasingly work from home
than before the COVID-19 pandemic. The momentum in the company's
Hawthorne business has also remained strong. We expect this
business to continue to improve as Scotts expands in its existing
markets and more states legalize cannabis cultivation."

On the other hand, the company is narrowly focused in the mature,
low-growth U.S. lawn and garden care products sector. It also faces
private-label competition, particularly in fertilizers, but still
has materially higher market shares than its competitors. Scotts
also manufacturers some private-label products in the lawn and
garden category for retailers such as Walmart Inc. Furthermore, its
faces solid competition from Spectrum Brands Inc. and Bayer AG
(both in pest and weed controls), Central Garden & Pet Co. (in
grass seeds), and numerous regional competitors in the growing
media business, which S&P views as having low barriers to entry.
The company has significant customer concentration, though this is
somewhat offset by its long-term relationships with financially
solid retailers. In addition, Scotts' core business is highly
seasonal and can be negatively affected by adverse weather
conditions. There is also the actual and perceived health and
environmental risks associated with many of the company's products,
which S&P assumes it will continue to successfully manage.



SESI HOLDINGS: Egan-Jones Withdraws D Senior Unsecured Ratings
--------------------------------------------------------------
Egan-Jones Ratings Company, on July 27, 2021, withdrew its 'D'
foreign currency and local currency senior unsecured ratings on
debt issued by SESI Holdings, Inc.

Headquartered in Louisiana, Houston, SESI Holdings, Inc. provides
oilfield services and equipment.



SIX FLAGS: S&P Upgrades ICR to 'B+', Outlook Positive
-----------------------------------------------------
S&P Global Ratings raised its issuer credit rating on U.S. regional
theme park operator Six Flags Entertainment Corp. by two notches to
'B+' from 'B-' and removed all of its ratings from CreditWatch,
where S&P placed them with positive implications on June 30, 2021.

S&P said, "At the same time, we raised our issue-level rating on
the company's secured debt to 'BB-' from 'B' and our issue-level
rating on its unsecured debt to 'B-' from 'CCC'. Our '2' recovery
rating on the secured debt and '6' recovery rating on the unsecured
debt remain unchanged.

"The upgrade reflects our expectation that Six Flags' improving
attendance trends and increased spending per capita could reduce
its S&P Global Ratings-adjusted net leverage to about 5x in 2021
and potentially the low 4x area in 2022. Following its depressed
performance in 2020 due to park closures, cautious consumer
behavior, government restrictions, and discomfort with wearing
masks for extended periods in warm outdoor weather, the attendance
at Six Flags' theme parks improved to approximately 19% below its
results for the same period in 2019 in the second quarter of 2021.
This indicates a significant sequential improvement relative to the
first quarter of 2021 when its attendance was 38% below the same
period in 2019, and the fourth quarter of 2020, when its attendance
was 49% below the same period in 2019. We believe consumers are now
materially less resistant to--and to some extent eager to--reenter
public spaces, which is supporting a rebound in the attendance at
Six Flags' parks this summer. In addition to its improved
attendance, the company's admission spending per capita and in-park
spending per capita remain significantly elevated compared with
pre-pandemic levels, which could reflect pent-up demand, government
stimulus, ticket price increases, or its higher mix of general
admission attendance relative to group visits. Six Flags' improved
operating trends support our expectation that its total revenues
could improve to just under 2019 levels this year.

"In our updated base-case scenario, we assume the company's theme
parks remain open without any significant restrictions for the
remainder of this year and next. However, we intend to monitor the
potential effects of regional restrictions, including park
closures, capacity limits, or mask mandates, that may negatively
affect its attendance.

"We expect that Six Flags' transformation plan could support an
improvement in its margin. Management is currently implementing a
series of transformational initiatives that it expects will
generate between $80 million and $110 million of incremental EBITDA
at pre-pandemic levels of attendance. These changes include new
food and beverage strategies--such as the acceleration of mobile
dining and a new food pricing architecture--as well as changes to
its merchandising and flash pass programs. Going forward, the
company also expects to attract a higher proportion of non-group
single-day customers, who typically spend more while at its parks
than group attendees. Although we expect that the costs associated
with implementing these changes and some other operating costs
could creep back over time, we believe the initiatives and the
shift in Six Flags' customer mix could improve its S&P Global
Ratings-adjusted EBITDA margin to near 2019 levels of about 37%
through 2022. Lastly, we expect that inflationary labor costs and
other cost pressures could partially offset some of management's
expense reductions through 2022.

"We expect Six Flags to end fiscal year 2021 with substantial cash
balances and anticipate that its capital allocation decisions over
the next several quarters could materially affect its net leverage.
Under our base-case scenario, we assume the company ends fiscal
year 2021 with cash balances of more than $300 million, which is
elevated compared with the level of cash it carried on its balance
sheet prior to the pandemic. Six Flags has already increased its
planned capital expenditure for 2021 and we believe it could spend
even more to catch up on the capital expenditure it deferred during
2020 if its operating trends remain strong. Given our expectation
that the company's net leverage will exceed management's 3x-4x
target range through 2022, we do not incorporate any dividends in
our forecast until at least 2023. However, depending on how it
deploys its cash--which we believe it could use for acquisitions,
investments, share repurchases, or debt repayment depending on its
available opportunities and management's priorities--its net
leverage could be higher or lower than our current base-case
assumption through 2022."

Environmental, social, and governance (ESG) credit factors for this
credit rating change:

-- Health and safety

S&P said, "The positive outlook reflects that Six Flags' leverage
could improve to about 5x in 2021 and 4x in 2022 under our current
base-case scenario, which compares with our 5x upgrade threshold at
the current rating. Despite our expectation its leverage will
decline below our upgrade threshold next year, we would likely
refrain from raising our rating on the company until it is clear
existing or new variants of the coronavirus will not lead to
further park closures, mask mandates, or consumer apprehensions
that depress its attendance. In addition, we would need to believe
that the economic recovery remains strong enough to support a
sustained increase in its per capita spending relative to 2019. To
raise our rating, we would also need Six Flags to make capital
spending and investment decisions that enable it to sustain S&P
Global Ratings-adjusted leverage of less than 5x after
incorporating the volatility over an economic cycle.

"We could raise our rating on Six Flags if we believe it will
sustain leverage of less than 5x after incorporating the volatility
over an economic cycle. Before raising our rating, we would need
further clarity regarding the future path of COVID-19 cases in the
U.S. and the corresponding risk of additional regional
restrictions.

"We believe a downgrade is unlikely over the next 12 months given
the recent improvement in Six Flags' operating performance and its
expected cushion relative to our downgrade threshold in 2022. That
said, we could lower our rating if we expect the company to sustain
leverage of greater than 6x."



SOMETHING SWEET: Seeks to Hire Reliable Companies as Claims Agent
-----------------------------------------------------------------
Something Sweet Acquisition, Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Delaware to hire Reliable
Companies as its claims and noticing agent.

The firm will oversee the distribution of notices and will assist
in the maintenance, processing and docketing of proofs of claim
filed in the Debtors' Chapter 11 cases.  The firm will also provide
expertise, consultation, and assistance in claim and ballot
processing.

The fees and expenses incurred by Reliable in the performance of
its services will be treated as administrative expenses of the
Debtor's estate.

Justin Edelson, director of corporate restructuring at Reliable
Companies, disclosed in a court filing that
his firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

      Justin K. Edelson
      Reliable Companies
      Nemours Building
      1007 Orange Street, Suite 110
      Wilmington, DE 19801
      Phone: 302-654-8080

               About Something Sweet Acquisition

Something Sweet Acquisition, Inc., a grocery and related product
merchant wholesaler based in New Haven, Conn., sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No.
21-10992) on July 20, 2021. At the time of the filing, the Debtor
had between $1 million and $10 million in both assets and
liabilities.

Judge Benjamin A. Kahn oversees the case.  

Bielli & Klauder LLC and The Peakstone Group, LLC serve as the
Debtor's legal counsel and investment banker, respectively.
Reliable Companies is the claims and noticing agent.


SORROEIX INC: Sale of 5 Memphis Properties for $105K Approved
-------------------------------------------------------------
Judge Jimmy L. Croom of the U.S. Bankruptcy Court for the Western
District of Tennessee authorized Sorroeix, Inc.'s sale of the
following five properties to Jack Whitaker for the gross purchase
price of $105,000, pursuant to a contract for sale dated July 7,
2021:

       (i) 1639 Shadowlawn Boulevard, Memphis, TN 38106;

      (ii) 3002 Benjestown, Memphis, TN 38127;

     (iii) 5326 Cedar Bluff, Memphis, TN 38127;

      (iv) 3894 Houghton Cove, Memphis, TN 38128; and

       (v) 307 S. Parkway E., Memphis, TN 38106.

The Debtor is authorized and directed to perform all obligations
pursuant to the terms of the Order and the Contract.

The Debtor is authorized to execute, deliver, file, and record all
such documents and take all such actions as may be necessary and
appropriate to implement and consummate the sale of the Properties
subject to the terms of the Contract.  In the event the Debtor
fails to perform its duties as set forth in the preceding sentence,
the Trustee is authorized to execute and deliver any deeds and
assignments of leases and lease purchase agreements, on behalf of
the Debtor to the Purchaser.  The authorization given to the
Trustee does not relieve the Debtor from otherwise complying with
the Order or from delivering any documents which are necessary and
appropriate to implementing and consummating the sale of the
Properties pursuant to the Contract.

At closing, the Debtor, through its closing attorney, will be
authorized to use the net proceeds from the sale of the three
Properties, subject to the lien of Mr. Cooper, to (a) first pay the
secured real estate tax claims on such properties; (b) second pay
Mr. Cooper the funds for the satisfaction of its contractual payoff
for the three Mr. Cooper properties to the extent of $105,000 only;
(c) third pay the pro-rated, customary, and reasonable closing
costs, including reasonable and necessary attorneys’ fees,
homeowner association fees, and title expenses, in connection with
closing; and (d) fourth pay the remaining proceeds to Property
Factors, AUS, LLC.

Second, at the closing, the Debtor, through its closing attorney,
will be authorized to (a) pay the customary and reasonable closing
costs, including reasonable and necessary attorneys' fees,
homeowner association fees, and title expenses, in connection with
closing; (b) pay the net proceeds from the sale of the 3 Properties
subject to the liens of Mr. Cooper and Property Factors AUS, LLC
which remain after payment of (a) and a prorated allocation of (b),
less the secured real estate taxes on such properties as follows:
(i) the sum of $105,000, less foreclosure costs and attorney's fees
will be paid toward the satisfaction of the claim of Mr. Cooper;
(ii) the balance of available proceeds, less attorney's fees will
be paid to outstanding taxes on the 2 remaining properties and then
to Property Factors, AUS, LLC; and (iii) Foreclosure costs and
attorneys' fees incurred by SFR and/or PF will be the
responsibility of those parties to be paid out of their respective
shares at Closing.

The Order is a final and appealable order as to which there is no
just reason for delay in its implementation, as to which a judgment
should be entered immediately and that, for purposes of Fed. R.
Bankr. P. 7062, is an order authorizing sale of property of the
estate under 11 U.S.C. Section 363.

The stay created pursuant to Fed. R. Bank. P. Rule 6004(h) will not
be applicable to the Order.

No real estate commission will be paid from the sale proceeds of
the Properties.

          About Sorroeix, Inc.

Sorroeix, Inc. sought Chapter 11 protection (Bankr. W.D. Tenn. Case
No. 20-11492) on Nov. 25, 2020.  The case is assigned to Judge
Jimmy L. Croom.

The Debtor estimated assets in the range of $0 to $50,000 and $1
million to $10 million in debt.

The Debtor tapped Steven N. Douglas, Esq., at Harris Shelton, PLLC
as counsel.

The petition was signed by Matthew Jones, president/CEO.



SOTO'S AUTO & TRUCK: Seeks Cash Collateral Access
-------------------------------------------------
Soto's Auto & Truck Repairs Service, Inc. asks the U.S. Bankruptcy
Court for the Middle District of Florida, Tampa Division, for
authority to use cash collateral to fund its operating expenses and
the costs of administering the Chapter 11 case in accordance with a
proposed budget.

Specifically, the Debtor intends to use Cash Collateral for
payroll, insurance, purchase of necessary materials, payment of
utilities, other payments necessary to sustain continued business
operations, care, maintenance, and preservation of the Debtor's
assets, and the costs of administration in the Chapter 11 case.

The Debtor's secured obligations are comprised of: (a) merchant
cash advances, (b) equipment and tool financing owed to Snap-On
Credit, LLC in the approximate amount of $30,000, and (c) SBA loans
in the approximate amount of 150,000. The Debtor believes these
merchant cash lenders may assert liens on and security interests in
the Debtor's assets, including accounts receivable:

                                 Approximate Balance
   Creditor                      as of Petition Date
   --------                      -------------------
Funding Metrics, LLC                  $55,000
Nanoflex Capital                      $30,000
Radium2 Capital, LLC                  $20,000
On Deck Capital, Inc.                 $115,000

In exchange for its ability to use Cash Collateral, the Debtor
proposes to grant to the Lenders, as adequate protection,
replacement liens to the same extent, validity, and priority as
existed on the Petition Date. Specifically, the Debtor proposes
that the Lenders' "floating" liens on such assets continue to
"float" to the same extent, validity, and priority as existed on
the Petition Date, notwithstanding Section 552 of the Bankruptcy
Code.  The Debtor asserts that the Lenders' interests will be
adequately protected by the replacement liens.

A copy of the order and the Debtor's two-week budget is available
at https://bit.ly/3sbCuCP from PacerMonitor.com.

The Debtor projects $30,550 in operating and labor expenses.

          About Soto's Auto & Truck Repairs Service, Inc.

Soto's Auto & Truck Repairs Service, Inc. is a family-owned diesel
truck repair company founded in March 2004.  The Company provides
heavy-duty truck repair and maintenance services, including engine
repairs, overhauls, and replacements, as well as mobile truck
repair and maintenance services.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 21-04131) on August 6,
2021. In the petition filed by John Soto, president, the Debtor
disclosed up to $500,000 in assets and up to $1 million in
liabilities.

Emily S. Clendenon, Esq., at Stichter, Riedel, Blain & Postler,
P.A. is the Debtor's counsel.




SOUTH COAST BEHAVIORAL: $11.2M Sale to SCHG LLC to Fund Plan
------------------------------------------------------------
Thomas H. Casey, the Chapter 11 Trustee of debtor South Coast
Behavioral Health, Inc., filed with the U.S. Bankruptcy Court for
the Central District of California a Disclosure Statement and
Chapter 11 Plan for South Coast Behavioral Health, Inc. dated
August 9, 2021.

The Trustee is proposing a plan that provides for both the
reorganization of the Debtor and the liquidation of the bankruptcy
estate's remaining current assets (the "Assets"). The Trustee has
already sold the majority of the Debtor's assets ("Sale"),
including the Debtor's business operations as a going concern to
SCHG, LLC ("Purchaser").

On December 21, 2020, the Court held a hearing on the Sale Motion
and approved the Sale of the Business, free and clear of all liens,
claims, and encumbrances, to SCHG LLC, a Delaware limited liability
company or its nominee, on behalf of Vogue Recovery Centers as its
designee ("Purchaser"), under the terms and conditions set forth in
the APA and the MOTA. After resolution of some minor issues that
arose after the hearing, the Sale closed on March 11, 2021, and the
Trustee received the total purchase price of $11.2 million. Because
the prevailing bidder had been obtained from other sources and was
excluded from the Braff Group engagement, the Braff Group did not
earn a commission by reason of the sale.

The Plan installs the Chapter 11 Trustee as a plan agent (the "Plan
Agent") to conduct the liquidation or abandonment of the remaining
non-liquid assets of the Debtor, (which include title to three real
properties, certain accounts receivable, cash on hand, and all
claims held by the Debtor, including but not limited to claims
under Chapter 5 of the Bankruptcy Code, if any), and establishes a
qualified settlement fund ("QSF") in order to distribute payments
to creditors of the Estate.

The Plan also provides, in accordance with the Asset Purchase
Agreement ("APA") and Management and Operations Transfer Agreement
("MOTA") (the APA and MOTA, together with all other documents
documenting the Sale of the Business, collectively, the "Sale
Documents") approved in the Sale Order, that the Purchaser shall
pay an additional $25,000 to the Estate in exchange for the
issuance of 100 shares of common stock of the Debtor to the
Purchaser.

The Trustee and his management team successfully operated the
business of the Debtor from the Trustee's appointment until the
turnover of business operations to the Purchaser. Since the Sale of
the Business closed, the Purchaser has operated the business under
the Estate's licenses and provider numbers, and the Debtor has
remained as licensee.

Since the closing of the Sale, the Trustee has paid allowed secured
claims totaling $1,322,899.58. The Trustee has also paid allowed
professional fee claims totaling $2,042,837.01. The June 2021 MOR
shows an ending cash balance held by the Trustee of $9,434,322.
Based upon the cash remaining available for distribution to
creditors, and the reduction of outstanding creditor claims by
approximately $13.5 million in negotiated settlements, the Trustee
believes that it is probable that upon plan confirmation the
Trustee will be able to pay all unsecured claims, including claims
of the general unsecured creditors, with interest, in full.

Class 6 consists of certain allowed unsecured claims entitled to
priority including priority wage claims. The Trustee believes that
the only priority claims in this class are certain employee
priority wage claims totaling $30,275. The undisputed claims in
this class will be paid in full on the Effective Date from the QSF,
plus interest.

Class 7 consists of allowed nonpriority general unsecured claims.
Claims in this class are allowed unsecured claims that are not
entitled to priority. Claims in this class shall be paid pro rata
from the QSF unless sufficient funds remain in the QSF following
payment of Class 6 Claims to pay the claims in this class in full.
If the full principal amount of all allowed claims in this class
have been paid in full and funds are remaining and available for
distribution to the class, claims in this class shall then be paid
interest.

Class 8 consists of parties holding general unsecured claims that
have been subordinated. After payment of claims, the remaining
amount, the amount remaining in the QSF less any reserve held for
disputed claims, will be available to pay the subordinated general
unsecured claims in this class. Claims in this class shall be paid
pro rata.

Class 9 consists of parties holding ownership interests in the
Debtor. According to the List of Equity Security Holders filed on
July 19, 2019, Dr. Charles McPhail is sole owner of the Debtor,
holding 100% of the Debtor's Common Stock. On the Stock Issuance
Date, all outstanding shares of stock in the Debtor shall be
cancelled, extinguished, and discharged. Class 9 will not receive
any distribution unless all administrative claims and the previous
classes are paid in full with interest.

From and after the Confirmation Date, the Trustee will serve as the
Plan Agent under this Plan and will establish a Qualified
Settlement Fund (the "QSF"). The Debtor's secured claims (Classes
1-5), other than secured claims secured by real estate, have been
paid in full. The Trustee anticipates that all administrative and
priority claims will be paid in full on the Effective Date, and
that nonpriority, unsecured claims will be paid pro rata, or, if
paid in full and to the extent of Assets remaining available for
distribution, with interest, from the funds in the QSF.

A full-text copy of the Disclosure Statement dated August 9, 2021,
is available at https://bit.ly/3jHBJ0F from PacerMonitor.com at no
charge.

General Bankruptcy Counsel for the Chapter 11 Trustee:

     Todd C. Ringstad, Esq.
     Karen Sue Naylor, Esq.  
     R Chase Donahoo, Esq.
     Ringstad & Sanders LLP
     4343 Von Karman Avenue, Suite 300
     Newport Beach, CA 92660
     Telephone: 949-851-7450
     Facsimile: 949-851-6926
     E-mail: todd@ringstadlaw.com
             karen@ringstadlaw.com
             chase@ringstadlaw.com

             About South Coast Behavioral Health

South Coast Behavioral Health, Inc. is a healthcare company that
specializes in the in-patient and outpatient treatment of addicts,
alcoholics, and persons dealing with mental health issues. It
offers a clinically supervised residential sub-acute detox
services, therapeutic and residential treatment centers, intensive
outpatient treatment services, and partial hospitalization
programs.  Visit https://www.scbh.com for more information.

South Coast Behavioral Health sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. C.D. Cal. Case No. 19-12375) on June
20, 2019.  At the time of the filing, Debtor disclosed assets of
between $1 million and $10 million and liabilities of the same
range. Judge Mark S. Wallace oversees the case.

The Debtor has tapped Nicastro & Associates, P.C., as its
bankruptcy counsel.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors in Debtor's case. The committee tapped Weiland Golden
Goodrich LLP as its legal counsel, and Bryars Tolleson Spires +
Whitton LLP as its financial advisor.

On Feb. 27, 2020, the U.S. Trustee appointed Thomas Casey as the
Debtor's Chapter 11 trustee.  Mr. Casey has tapped Ringstad &
Sanders LLP as his bankruptcy counsel; Nicastro & Associates, PC as
special counsel; and Joseph S. Yung & Co. as tax accountant.


SOUTH MOON: Unsecs. to be Paid in 5 Years, Plus 3% Interest P.A.
----------------------------------------------------------------
South Moon BBQ Incorporated filed with the U.S. Bankruptcy Court
for the Northern District of Chicago an Amended Small Business Plan
of Reorganization and Amended Disclosure Statement dated August 6,
2021.

Classes of Claims and Equity Interests in the Plan:

  * Class 1 Internal Revenue Service
    Amount of Claim: $278,295
    Treatment: Paid over 60 months or $4,482 per month, 5%
interest.

  * Class 2 Illinois Department of Revenue
    Amount of Claim: $475,574
    Treatment: By agreement and subject to the conditions contained
in the Plan, allowed Class 2 Claim will be paid over 72 months, at
3% interest, or $7,226 per month.

  * Class 3 Illinois Department of Employment Security
    Amount of Claim: $19,480
    Treatment: By agreement and subject to the conditions contained
in the Plan, allowed Class 3 Claim will be paid over 60 months, at
3% interest, or $359 per month.

  * Class 4 General Unsecured Creditors
    The Plan proposes to pay all Class 4 claims in full over a
five-year term with interest at 3% per annum, as follows:
                                                                   
                                                   
    Class 4                  Claim        Monthly
    Creditor                 Amount     Plan Payment
    ---------               --------    ------------
    United Healthcare                                 
      Insurance Company      $7,309         $131
    Capital One             $17,854         $321
    Can Capital, Inc.       $66,622       $1,197
    US Foods, Inc.          $51,203         $920
    Office of the United
      States Trustee         $3,250          $58
    JPMorgan Chase Bank     $21,526         $387
    First Midwest Bank       $1,200          $22
    Groot Trash              $2,627          $47
    Waste Management         $1,030          $19

Payments to creditors total $15,169 per month pursuant to the Plan.
The Debtor's financial projections from June 2021 through May 2022
indicates that sufficient funds shall be available to make the Plan
payments.  The Debtor's projections show positive cash flow each
month between $15,000 and $20,000.  Profit will further be expanded
between $6,000 to $8,000 per month from anticipated revenue from
video gaming.

The Debtor will remain in control of its operations and shall make
monthly payments as provided for in the Amended Plan.

A copy of the Amended Disclosure Statement is available for free at
https://bit.ly/3lSaJ15 from PacerMonitor.com.

Counsel for the Debtor:
   
   James E. Stevens, Esq.
   Barrick Switzer Long
     Balsley & Van Evera, LLP
   6833 Stalter Drive
   Rockford, IL 61108
   Telephone: 815-962-6611
   Email: jstevens@bslbv.com


                     About South Moon BBQ Inc.

South Moon BBQ Incorporated sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Ill. Case No. 19-80759) on April
1, 2019.  At the time of the filing, the Debtor was estimated to
have assets of less than $50,000 and liabilities of less than $1
million.  The case is assigned to Judge Thomas M. Lynch.  Barrick,
Switzer, Long, Balsley, & Van Evera LLP is the Debtor's counsel.




SOUTHWEST AIRLINES: Egan-Jones Keeps BB Senior Unsecured Ratings
----------------------------------------------------------------
Egan-Jones Ratings Company, on July 30, 2021, maintained its 'BB'
foreign currency and local currency senior unsecured ratings on
debt issued by Southwest Airlines Co.

Headquartered in Dallas, Texas, Southwest Airlines Co. is a
domestic airline that provides primarily short-haul,
high-frequency, and point-to-point services.



STAGWELL INC: S&P Assigns B+ Issuer Credit Rating, Outlook Stable
-----------------------------------------------------------------
S&P Global Ratings assigned its 'B+' issuer credit rating to
U.S.-based advertising and marketing services provider Stagwell
Inc.

At the same time, S&P assigned its 'B+' issue-level rating and '4'
recovery rating to the proposed unsecured debt.

S&P said, "The stable outlook reflects our expectations that
Stagwell will integrate the operations of Stagwell Marketing Group
LLC (SMG) and MDC Partners Inc. and continue positive operating
performance such that organic revenue and EBITDA growth allow the
company to lower S&P Global Ratings-adjusted leverage to the
high-4x area in 2021 and the mid-4x area in 2022.

"We believe the combined business will benefit from improved size
and product diversity. The newly formed company combines the assets
of MDC and SMG. We expect it to generate revenues of roughly $2.15
billion in 2021." This combination is a meaningful increase in
scale, which could help reduce revenue volatility from changes in
client volumes. It also improves the diversity of advertising and
marketing services Stagwell can offer.

The MDC operating assets contribute some of the industry's leading
creative agencies, such as Anomaly and 72andSunny. They not only
benefit from good brand reputations and favorable creative
advertising track records but also increasing client demand for
nontraditional advertising due to their digital offerings. For
example, clients have utilized these agencies for advertising
campaigns outside of traditional linear television, a growing trend
as consumers shift their media viewing patterns toward on-demand,
over-the-top viewing and social media platforms.

S&P said, "We expect the SMG operating assets will supplement MDC's
core creative offerings with a portfolio of niche marketing
services including digital advertising, performance marketing,
polling research, creative content generation, and public affairs
and communications. SMG's offerings are substantially digital in
nature with roughly 90% of its work being digitally based in 2020.
As a result, its revenue has increased significantly over the past
several years due to increased client demand for these services and
marketing formats. We believe this trend will continue to support
organic growth for the combined company.

"In our view, this improved portfolio of services is complementary
and could allow Stagwell to increase its share of wallet with
clients as it offers creative advertising, digital marketing, and
data research services together. Nevertheless, despite our
expectations for growth for these services, the broader advertising
industry continues to face challenges. Stagwell will need to
compete in what is becoming an increasingly fragmented marketing
industry with high client demands, a cost-conscious client base,
and an evolving array of services from incumbent and emerging
competitors.

"Despite an improved revenue base, Stagwell's global scale and
client reach remains below those of global ad agency peers.
Although size and positioning in digital advertising and data
research are more favorable, we believe Stagwell is still limited
by its U.S.-focused operations and smaller scale than its global ad
agency peers, which could limit revenue growth opportunities.
Stagwell generates roughly 85% of pro forma revenues in the U.S.,
with roughly 5% in Canada and 10% from the rest of the world,
namely Europe. We believe this concentration, combined with
Stagwell's annual revenues of roughly $2.15 billion, does not
compare favorably with its largest global advertising peers such as
Interpublic Group, WPP, and Omnicom. They generate annual revenues
of about $9 billion or more and have vast networks of global
agencies in key international markets. In our opinion, a healthy
global ad agency network is necessary to attract and retain the
most favorable comprehensive contracts from multinational
corporations as they pursue global advertising campaigns. As a
result, we expect the company will continue to face challenges
competing for these larger global contracts with industry peers
that have more comprehensive suites of advertising services.
Further, we highlight that competition in the industry remains
intense given the recent trend of multinational clients reassessing
or reducing marketing and advertising budgets in a dynamic
macroeconomic environment. We believe this may increase competition
among advertising agencies and reduce the opportunity for smaller
agencies such as Stagwell to expand EBITDA margins through price
increases.

"Nevertheless, we recognize Stagwell is aiming to improve its
global reach to gain access to these comprehensive contracts with
multinational clients. Stagwell's creative agencies' contracts are
mostly focused on regional campaigns, and in some cases their
advertising and marketing services are used in tandem with other
agencies for shared global advertising initiatives. The company
aims to increase this shared global campaign activity by developing
a network of affiliate agencies internationally so it can offer
services more broadly. Importantly, these affiliate programs do not
require upfront costs, which limits Stagwell's capital commitments.
However, this also means Stagwell does not have as much control
over the quality of these partner agencies as it could if they were
wholly owned. In our view, this may limit the perception of its
services to certain clients and increases execution risk.

"We expect Stagwell to supplement organic growth with acquisitions.
In addition to organic growth fueled by net new client wins at the
MDC and SMG operating assets, we expect Stagwell to pursue
acquisitions to marginally improve its offerings and expand its
client reach. Specifically, the company has stated a goal of adding
$325 million in annual revenue to its business over the next
several years through acquisitions. We believe these additions will
likely be geared toward improving the company's global reach and
its exposure to the fastest expanding digital marketing categories.
Stagwell is likely to use available cash and revolver availability
to fund these acquisitions. We expect these deals will be
marginally leveraging and structured using deferred acquisition
considerations (DAC), whereby in addition to a partial upfront
purchase consideration acquired assets are funded by earnouts and
future cash outflows once certain performance milestones are met.
These future considerations are recorded as liabilities, which we
consider debt in our adjustments. As a result, we expect any
additional liabilities resulting from future acquisitions could
reduce Stagwell's ability to quickly lower leverage despite the
incremental EBITDA generation from the acquisitions.

"The proposed capital structure is a substantial debt burden, but
we believe leverage will decline over the next two years through
increased EBITDA generation. Due to leveraging activities before
combining the businesses, Stagwell's pro forma reported gross debt
balance is roughly $1.4 billion, which includes $1 billion of
proposed unsecured notes and a substantial draw on the $500 million
revolver. Despite this significant outstanding debt, we believe the
company's expected positive revenue growth and our forecast for
EBITDA margins to remain in the 18% area over the next two years
will lead to improving EBITDA generation, which will support steady
leverage reduction. We expect Stagwell's pro forma S&P Global
Ratings-adjusted leverage to decline to the mid-4x area in 2022
from the high-4x area in 2021. Further, we believe free operating
cash flow (FOCF) to debt will improve at the same time, rising to
about 12% in 2022 from 9% in 2021. However, we believe that because
of substantial forecasted DAC cash outflows and payments to
noncontrolling interests, the company's ability to significantly
reduce debt may be limited over the next 12 months.

"The stable outlook reflects our expectations that Stagwell will
integrate the operations of SMG and MDC and continue to show
positive operating performance such that organic revenue and EBITDA
growth allow the company to lower S&P Global Ratings-adjusted
leverage to the high-4x area in 2021 and the mid-4x area in 2022.

"We could lower the rating over the next 12 months if the company's
leverage remains above 5.25x on a sustained basis due to poor
EBITDA generation, lower than expected cash flows, or substantially
growing acquisition liabilities. This scenario could occur if the
company is unable to successfully integrate its operations through
effective go-to-market strategies, suffers from intense price
competition from competitors, loses substantial contracts with key
clients, or pursues substantially leveraging transactions."

S&P could raise the rating over the next 12 months if Stagwell:

-- Achieves greater than expected organic revenue growth and
increases its global reach such that it makes material progress in
improving its exposure to large global contracts; and

-- Lowers and maintains leverage below 4.25x through increasing
EBITDA generation, good cash flow, and controlling its acquisition
liabilities.



SUMMIT MIDSTREAM: Posts $19.7 Million Net Loss in Second Quarter
----------------------------------------------------------------
Summit Midstream Partners, LP filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q disclosing a
net loss of $19.74 million on $100.04 million of total revenues for
the three months ended June 30, 2021, compared to net income of
$56.72 million on $92.01 million of total revenues for the three
months ended June 30, 2020.

For the six months ended June 30, 2021, the Summit Midstream
reported a net loss of $10.75 million on $199.36 million of total
revenues compared to net income of $60.48 million on $196.91
million of total revenues for the same period a year ago.

As of June 30, 2021, the Company had $2.47 billion in total assets,
$1.47 billion in total liabilities, $97.68 million in mezzanine
capital, and $905.30 million in total partners' capital.

"We are closely monitoring the continuing impact of the outbreak of
COVID-19 on all aspects of our business, including how it will
impact our liquidity and capital resources. Considering the current
commodity price backdrop and COVID-19 pandemic, we have
collaborated extensively with our customer base over the past year.
Given continued volatility in market conditions since March 2020,
and based on recently updated production forecasts and revised
development plans from our customers, we currently expect our
results to continue to be affected by decreased drilling activity,
the deferral of well completions from customers and, on a limited
scale, temporary production curtailments predominantly in the
Williston Basin, DJ Basin and Utica Shale reportable segments. We
expect 2021 total capital expenditures to range from $20.0 million
to $35.0 million," Summit Midstream said.

"As we cannot predict the duration or scope of the COVID-19
pandemic and its impact on our customers and suppliers, the
potential negative financial impact to our results cannot be
reasonably estimated but could be material," the Company further
said.

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1549922/000154992221000007/smlp-20210630.htm

                      About Summit Midstream

Summit Midstream Partners is a value-driven limited partnership
focused on developing, owning and operating midstream energy
infrastructure assets that are strategically located in
unconventional resource basins, primarily shale formations, in the
continental United States.  SMLP provides natural gas, crude oil
and produced water gathering services pursuant to primarily
long-term and fee-based gathering and processing agreements with
customers and counterparties in six unconventional resource basins:
(i) the Appalachian Basin, which includes the Utica and Marcellus
shale formations in Ohio and West Virginia; (ii) the Williston
Basin, which includes the Bakken and Three Forks shale formations
in North Dakota; (iii) the Denver-Julesburg Basin, which includes
the Niobrara and Codell shale formations in Colorado and Wyoming;
(iv) the Permian Basin, which includes the Bone Spring and Wolfcamp
formations in New Mexico; (v) the Fort Worth Basin, which includes
the Barnett Shale formation in Texas; and (vi) the Piceance Basin,
which includes the Mesaverde formation as well as the Mancos and
Niobrara shale formations in Colorado.  SMLP has an equity
investment in Double E Pipeline, LLC, which is developing natural
gas transmission infrastructure that will provide transportation
service from multiple receipt points in the Delaware Basin to
various delivery points in and around the Waha Hub in Texas. SMLP
also has an equity investment in Ohio Gathering, which operates
extensive natural gas gathering and condensate stabilization
infrastructure in the Utica Shale in Ohio.  SMLP is headquartered
in Houston, Texas.

Summit Midstream reported net income of $189.08 million for the
year ended Dec. 31, 2020, compared to a net loss of $393.73 million
for the year ended Dec. 31, 2019.  As of March 31, 2021, the
Company had $2.47 billion in total assets, $1.45 billion in total
liabilities, $93.59 million in Subsidiary Series A Preferred Units,
and a total partners' capital of $928.64 million.

                             *   *   *

As reported by the TCR on April 19, 2021, S&P Global Ratings
lowered its rating on Summit Midstream Partners L.P. (SMLP) to 'SD'
(selective default) from 'CC'.


SVXR INC: Seeks to Hire Omni Agent Solutions as Claims Agent
------------------------------------------------------------
SVXR, Inc. seeks approval from the U.S. Bankruptcy Court for the
Northern District of California to hire Omni Agent Solutions as
claims and noticing agent.

The Debtor requires the firm to:

     (a) serve required notices and documents in the case in
accordance with the Bankruptcy Code and the Bankruptcy Rules in the
form and manner directed by the Debtor and/or the Court, including
(i) notice of any claims bar date, (ii) notices of transfers of
claims, (iii) notices of objections to claims and objections to
transfers of claims, (iv) notices of any hearings on a disclosure
statement and confirmation of the Debtor’s plan or plans of
reorganization, including under Bankruptcy Rule 3017(d), (v) notice
of the effective date of any plan, and (vi) all other notices,
orders, pleadings, publications and other documents as the Debtor
or Court may deem necessary or appropriate for an orderly
administration of the case;

     (b) maintain an official copy of the Debtor's schedules of
assets and liabilities and statements of financial affairs, listing
the Debtor's known creditors and the amounts owed thereto;

     (c) maintain (i) a list of all potential creditors, equity
holders and other parties in interest and (ii) a "core" mailing
list consisting of all parties described in Bankruptcy Rule
2002(i), (j), and (k) and those parties that have filed a notice of
appearance pursuant to Bankruptcy Rule 9010 and update said lists
and make said lists available upon request by a party in interest
or the Clerk;

     (d) furnish a notice to all potential creditors of the last
date for the filing of proofs of claim and a form for the filing of
a proof of claim, after such notice and form are approved by the
Court, as applicable, and notify said potential creditors of the
existence, amount, and classification of their respective claims as
set forth in the Schedules, which may be effected by inclusion of
such information (or the lack thereof, in cases where the Schedules
indicate no debt due to the subject party) on a customized proof of
claim form provided to potential creditors;

     (e) maintain a post office box or address for the purpose of
receiving claims and returned mail, and process all mail received;


     (f) for all notices, motions, orders, or other pleadings or
documents served, prepare and file or caused to be filed with the
Clerk an affidavit or certificate of service within five business
days of service which includes (i) either a copy of the notice
served or the docket numbers(s) and title(s) of the pleading(s)
served, (ii) a list of persons to whom it was mailed (in
alphabetical order) with their addresses, (iii) the manner of
service, and (iv) the date served;

     (g) process all proofs of claim received, including those
received by the Clerk, and check said processing for accuracy, and
maintain the original proofs of claim in a secure area;

     (h) maintain the official claims register for the Debtor on
behalf of the Clerk; upon the Clerk’s request, provide the Clerk
with certified, duplicate unofficial Claims Register; and specify
in the Claims Register the following information for each claim
docketed: (i) the claim number assigned, (ii) the date received,
(iii) the name and address of the claimant and agent, if
applicable, who filed the claim, (iv) the amount asserted, (v). the
asserted classification(s) of the claim (e.g., secured, unsecured,
priority, etc.), and (vi) any disposition of the claim;

     (i) provide public access to the Claims Register, including
complete proofs of claim with attachments, if any, without charge;

     (j) implement necessary security measures to ensure the
completeness and integrity of the Claims Register and the
safekeeping of the original claims;

     (k) record all transfers of claims and provide any notices of
such transfers as required by Bankruptcy Rule 3001(e);

     (l) relocate, by messenger or overnight delivery, all the
court-filed proofs of claim to the offices of the Claims and
Noticing Agent, not less than weekly;

     (m) upon completion of the docketing process for all claims
received to date for each case, turn over to the Clerk copies of
the claims register for the Clerk's review (upon the Clerk’s
request);

     (n) monitor the Court’s docket for all notices of
appearance, address changes, and claims-related pleadings and
orders filed and make necessary notations on and/or changes to the
claims register and any service or mailing lists, including to
identify and eliminate duplicative names and addresses from such
lists;

     (o) identify and correct any incomplete or incorrect addresses
in any mailing or service lists;

     (p) assist in the dissemination of information to the public
and respond to requests for administrative information regarding
the case as directed by the Debtor or the Court, including through
the use of a case website and/or call center;

     (q) if the case is converted to chapter 7, contact the Clerk
within three business days of the notice to the Claims and Noticing
Agent of entry of the order converting this case;

     (r) thirty days prior to the close of the case, to the extent
practicable, request that the Debtor submits to the Court a
proposed order dismissing the Claims and Noticing Agent and
terminating the services of such agent upon completion of its
duties and responsibilities and upon the closing of the case;

     (s) within seven days of notice to the Claims and Noticing
Agent of entry of an order closing this case, provide to the Court
the final version of the claims register as of the date immediately
before the close of this case; and

     (t) at the close of the case, (i) box and transport all
original documents, in proper format, as provided by the Clerk, to
(A) the Philadelphia Federal Records Center, 14470 Townsend Road,
Philadelphia, PA 19154 or (B) any other location requested by the
Clerk; and (ii) docket a completed SF-135 Form indicating the
accession and location numbers of the archived claims.

The firm's hourly rates are as follows:

     Analyst                               $35.00 ‐ $50.00
     Consultants                           $65.00 ‐ $160.00
     Senior Consultants                    $165.00 ‐ $200.00
     Solicitation and Securities Services  $205.00
     Technology/Programming                $85.00 ‐ $135.00

The Debtor paid $10,000 to the firm as a retainer fee.

Paul H. Deutch, executive vice president of the firm, disclosed in
a court filing that his firm is "disinterested" in the case within
the meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Brian K. Osborne
     Omni Agent Solutions
     5955 De Soto Avenue, Suite 100
     Woodland Hills, CA 91367
     Tel.: (818) 906-8300
     Email: Bosborne@omniagnt.com

                 About SVXR

SVXR, Inc. sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Calif. Case No. 21-51050) on August 4, 2021.
Daniel Trepanier, CEO & president, signed the petition. At the time
of the filing, the Debtor disclosed $1 million to $10 million in
assets and $10 million to $50 million in liabilities.

The Debtor tapped Todd M. Schwartz, Esq. as legal counsel and Omni
Agent Solutions as claims and noticing agent.


TECH DATA: Egan-Jones Withdraws BB+ Senior Unsecured Ratings
------------------------------------------------------------
Egan-Jones Ratings Company, on July 27, 2021, withdrew its 'BB+'
foreign currency and local currency senior unsecured ratings on
debt issued by Tech Data Corporation.

Headquartered in Clearwater, Florida, Tech Data Corporation is a
wholesale distributor of technology products.



TELEPHONE AND DATA: Fitch Rates Proposed Preferred Stock 'BB-'
--------------------------------------------------------------
Fitch Ratings has assigned a 'BB-'/'RR6' rating to Telephone and
Data Systems, Inc.'s (TDS) proposed preferred stock issuance. The
preferred stock has no maturity date but may be redeemed in whole
but not in part, at any time prior to Sept. 30, 2026, upon
occurrence of a defined ratings event; and in whole or in part
after Sept. 30, 2026, in each case, in cash.

The proceeds from the offering will be used to redeem approximately
$116 million of TDS's 6.625% senior notes and pay down some or all
of $125 million of TDS' revolver balance. Any remaining proceeds
may be utilized towards fiber related capex or other general
corporate purposes. The preferred stock will rank junior to the
company's entire existing and future senior debt, and equally with
all existing and future series of preferred stock. The dividends
are payable quarterly when declared, and if unpaid are cumulative.
Fitch has assigned a 50% equity credit since the coupon deferral is
cumulative.

KEY RATING DRIVERS

Wireless Market Position: Fitch's ratings incorporate the smaller
size of TDS' main operating unit, United States Cellular
Corporation (U.S. Cellular or USM), in a market dominated by three
national wireless operators. This concern is mitigated by TDS'
financial flexibility, arising from its low leverage for the rating
category and comfortable liquidity position. During 2020, USM
posted 25,000 net adds of postpaid subscribers versus the 89,000
net loss in 2019, largely due to a decline in churn during the
pandemic and higher demand for connected devices offsetting
declines in handset gross adds. As of June 30, 2021, the total
postpaid subscriber base was approximately 4.4 million.

Leverage Well Within Fitch's Expectations: Fitch calculates TDS'
gross leverage at 2.6x as of March 31, 2021, including partnership
distributions received from non-controlling entities (3.0x
without). In calculating gross leverage, Fitch has assumed
deconsolidation of financial services (FS) activity related to
USM's EIP receivables, making adjustments for FS assets and
corresponding debt. Fitch assumes a capital structure for FS
operations, which is strong enough to indicate that FS activities
are unlikely to be a cash drain on industrial operations over the
rating horizon. The FS entity's target capital structure considers
the relative quality of EIP receivables and its funding and
liquidity.

Fitch believes TDS' low debt leverage, although increased from
year-end level, provides the company with sufficient room within
its current rating sensitivities to incur additional debt over the
next few years, required to fund its aggressive projected
investment plan. Fitch believes these investments, together with
spectrum spending, are critical to maintain and enhance the network
infrastructure, including investment in the 5G network, to remain
competitive in the longer run. Fitch expects core leverage to
increase to approximately 2.9x by FYE 2023.

Adequate Liquidity Profile: TDS and USM's ratings reflect
sufficient financial flexibility over the forecast, owing to
adequate cash balances, undrawn revolving credit facilities, low
leverage for the rating category and long-dated debt maturities,
compensating for negative FCFs that Fitch expects over the rating
horizon, due to increased capital spending and spectrum purchases.
As of June 30, 2021, TDS had a cash balance of $385 million and a
combined revolver availability of $574 million, excluding
outstanding letters of credit. TDS and USM are undertaking a series
of refinancing transactions including using proceeds from TDS'
preferred notes issuance and USM's EIP securitization facility.

Spectrum Acquisitions: The Federal Communications Commission
announced the winning bidders in the C-Band spectrum auction on
Feb. 24, 2021. USM was the fourth largest purchaser, winning
wireless spectrum licenses in the 3.7-3.98 Gigahertz (GHz) band for
a total value of approximately $1.28 billion for 254 licenses. This
acquisition builds on the company's spectrum inventory, which
includes millimeter wave spectrum licenses in 37GHz, 39GHz and
47GHz bands obtained in June 2020; the 24GHz and 28GHz spectrum
licenses acquired in 2019; and the 600 megahertz spectrum licenses
acquired in 2017, all of which will form the basis for the
company's 5G network.

Noncore Assets Provide Flexibility: While Fitch believes TDS
considers USM's 5.5% stake in the Los Angeles partnership and its
tower portfolio as core assets, Fitch also recognizes that these
assets provide the company with financial flexibility should the
need arise as it pursues growth investments.

DERIVATION SUMMARY

TDS' ratings reflect USM's weaker competitive position in the U.S.
wireless industry, which is dominated by three national players:
AT&T Inc. (BBB+/Stable), Verizon Communications Inc. (A-/Stable)
and T-Mobile USA, Inc. (BBB-/Stable), based on scale and number of
subscribers. However, this rating concern is largely mitigated by
TDS' adequate liquidity profile and sufficient financial
flexibility, supported by adequate cash balances and approximately
$574 million in combined (TDS and USM) revolver availability over
the forecast and its generally longer-dated maturity profile.

Additionally, the EIP receivables securitizations provide an
additional funding opportunity. Fitch expects FCF to be negative
for the next several years, due to the elevated capital
investments. However, the company has the ability to roll back
capex if needed, as a significant part of the capex is
success-based.

On the wireline side, TDS is comparable with rural-focused
incumbent wireline providers such as Windstream Services, LLC
(B/Stable) and Frontier Communications Holdings, LLC. (BB-/Stable).
However, compared with these companies, TDS has a conservative
balance sheet, a comparable liquidity position, long-dated
maturities and greater financial flexibility.

No Country Ceiling, parent/subsidiary or operating environment
aspects affect the ratings.

KEY ASSUMPTIONS

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

-- Fitch expects 2021 revenue to grow at low single digits,
    driven by continued strength in ARPU partially offset by
    moderately lower gross adds and a higher churn. Fitch expects
    churn to increase to pre-pandemic levels of 1.2% to 1.3% over
    the forecast, as 2020 saw lower switching activity during the
    pandemic. Fitch expects roaming revenue to remain pressured
    due to the Sprint-T-Mobile merger and the migration of Sprint
    roaming traffic to T-Mobile's network;

-- EBITDA for 2021 is expected to be moderately lower than in
    2020. Fitch expects overall EBITDAR margins to average near
    26.5% during the rating horizon;

-- Capex intensity in 2021 is assumed to be elevated in the low-
    to mid-20x range as the company continues spending on network
    modernization, deployment of 5G and fiber expansion in TDS
    Telecommunications Corporation (TDS Telecom) within and
    outside its footprint. Fitch has assumed significant
    incremental spending related to spectrum acquisition in 2021;

-- Share repurchases of $25 million each year are assumed over
    the forecast;

-- Fitch has provided 50% equity credit to preferred stock
    issuance;

-- To determine core telecom leverage, Fitch has applied a 1:1
    debt to equity ratio to the company's handset receivables.

RATING SENSITIVITIES

Factor that could, individually or collectively, lead to positive
rating action/upgrade:

-- Fitch believes that competitive factors coupled with TDS'
    relative position in the wireless industry would not likely
    allow a positive rating action in the near term.

Factor that could, individually or collectively, lead to negative
rating action/downgrade:

-- In the longer term, Fitch believes TDS and USM's ability to
    grow revenues and cash flows while competing effectively
    against much larger national operators will be key to
    maintaining their 'BB+' Issuer Default Ratings. In addition,
    if core telecom leverage (total debt/EBITDA) calculated
    including credit for material wireless partnership
    distributions in EBITDA approaches 3.5x, or if FFO net
    leverage approaches 3.0x, a negative rating action could be
    contemplated.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity Profile: TDS has a cash balance of $385 million
as of June 30, 2021. Of this, USM holds approximately $267 million.
In addition, the company has a combined availability of
approximately $574 million, net of LCs, on the revolvers at TDS and
USM. In July 2021, the revolvers at TDS and USM were amended and
restated to extend the maturities to July 20, 2026.

In addition, USM has a $100 million borrowing on its $450 million
EIP receivables securitization facility as of June 30, 2021. In
June 2021, the company increased the size of the facility from $300
million to $450 million. The company plans to draw on the remaining
$350 million availability to repay $342 million of USM's 6.95%
senior notes. The notes will be redeemed on Sept 1, 2021.

Debt Structure Updates:

In January 2020, TDS entered into a $200 million term loan credit
facility with CoBank and TDS. The USM term loan credit facility was
amended in June 2020 to increase the borrowing commitment to $300
million. As of June 30, 2021, both term loans were fully drawn. In
July 2021, TDS and USM term loans were amended to provide $300
million and $200 million, respectively, of additional borrowing
capacity; and update the leverage covenant to 3.75x from 3.25x.

In July 2021, TDS and USM amended and restated the revolvers to
extend the maturities to July 20, 2026. The new revolvers retained
the original commitments of $400 million and $300 million at TDS
and USM, respectively. In addition to pushing out the maturities,
the amendments included increasing the carve out for CoBank term
loan borrowing by $500 million each at USM & TDS, increasing the
carve out for USM's EIP securitization borrowing to $500 million,
adding a $300 million combined carve out for export credit
financing, and increasing the leverage covenant to 3.75x. As of the
amendment date, TDS had $125 million outstanding on its revolver;
while USM did not have any borrowings on its revolver.

The main financial covenants in the TDS' and USM's term loan
facilities and revolving facilities require total consolidated
interest coverage to be no less than 3.0x and the total
consolidated leverage ratio to be no more than 3.75x.

In March 2021, TDS issued $420 million in preferred stock. The
preferred stock has no maturity date but may be redeemed in whole
but not in part, at any time prior to March 31, 2026, upon
occurrence of a defined ratings event; and in whole or in part
after March 31, 2026, in each case, in cash. The preferred stock
ranks junior to the company's entire existing and future senior
debt. Fitch provides a 50% equity credit to the preferred notes.
The proposed preferred stock offering is similar in structure to
existing preferred notes and will receive the same 50% equity
credit treatment.

ISSUER PROFILE

TDS is the fourth largest diversified telecom company in the United
States that serves about 6.2 million customers nationwide. The
company provides wireless services through its 82%-owned
subsidiary, USM. TDS also provides wireline and cable services
through its wholly-owned subsidiary, TDS Telecom. The company's
operations also include hosted and managed services that are
carried out under a separate wholly-owned subsidiary, under the
OneNeck IT Solutions brand, and whose results are not significant
to TDS operations.

SUMMARY OF FINANCIAL ADJUSTMENTS

Adjustments for outstanding EIP receivables related to FS
operations (assessed using a 1.0x debt to equity ratio) resulted in
a reduced level of debt used in calculating Fitch's leverage
metrics by approximately $500 million (as of YE 2020).

Fitch provides 50% equity credit to TDS' preferred notes.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.


TENET HEALTHCARE: Egan-Jones Keeps CCC+ FC Senior Unsecured Rating
------------------------------------------------------------------
Egan-Jones Ratings Company, on July 29, 2021, maintained its 'CCC+'
foreign currency senior unsecured rating on debt issued by Tenet
Healthcare Corporation. EJR also maintained its 'B' rating on
commercial paper issued by the Company.

Headquartered in Dallas, Texas, Tenet Healthcare Corporation,
through its subsidiaries, owns or operates general hospitals and
related health care facilities serving communities in the United
States.



THEOS FEDRO: Trustee Seeks to Hire NRT West as Real Estate Broker
-----------------------------------------------------------------
Janina M. Hoskins, the Chapter 11 trustee appointed for Theos Fedro
Holdings, LLC, seeks approval from the U.S. Bankruptcy Court for
the Northern District of California to hire NRT West, Inc. doing
business as Coldwell Banker Realty, as her real estate broker.

The Debtor requires the firm to market the sale of its property at
819 Ellis Street, San Francisco, CA 94109.

The firm shall receive a four percent (4%) commission from the
proceeds of the sale.

Richard Gumbiner, the firm's real estate broker who will be
providing the services, disclosed in a court filing that he is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached at:

     Richard Gumbiner
     NRT West, Inc. doing business as Coldwell Banker Realty
     1560 Van Ness Ave Fl 2
     San Francisco, CA 94109
     Tel.: 415-793-0865
     Email: rich.gumbiner@cbcnrt.com

         About Theos Fedro Holdings

San Francisco, Calif.-based Theos Fedro Holdings, LLC, provides
support services to the transportation industry.  It filed a
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Calif. Case No. 21-30202) on March 16, 2021.
Philip Achilles, managing member, signed the petition.

In its petition, the Debtor disclosed $1 million to $10 million in
both assets and liabilities.  Judge Dennis Montali oversees the
case.  The Law Offices of Stuppi & Stuppi serves as the Debtor's
legal counsel.

Felderstein Fitzgerald Willoughby Pascuzzi & Rios LLP serves as
counsel for Pender Capital Asset Based Lending Fund I, LP,
creditor.

Janina M. Hoskins serves as the Debtor's Chapter 11 Trustee, while
NRT West, Inc. serves as the real estate broker.


TOWN SPORTS: Egan-Jones Withdraws 'D' FC Senior Unsecured Rating
----------------------------------------------------------------
Egan-Jones Ratings Company, on July 29, 2021, withdrew its 'D'
foreign currency senior unsecured ratings on debt issued by Town
Sports International Holdings, Inc. EJR also withdrew its 'D'
rating on commercial paper issued by the Company.

Headquartered in New York, New York, Town Sports International
Holdings, Inc. owns and operates fitness clubs in the Northeast and
mid-Atlantic regions of the United States.



TRADEMARK DEVELOPERS: Hits Chapter 11 Bankruptcy Protection
-----------------------------------------------------------
Brian Bandell of South Florida Business Journal reports that the
owner of a retail center in Margate, Trademark Developers, sought
Chapter 11 reorganization in U.S. Bankruptcy Court on Aug. 3, 2021.
The company was owned by Lois McHale Wagner, who died in 2020.
Jean Novak represents her estate.

In June 2020, Trademark Developers was hit with a foreclosure
lawsuit over its 27,420 square feet of retail space at 5400-5430 W.
Atlantic Blvd.  That complaint alleged that Wagner’s death was
the reason for the default.  Its loan was later assigned to 5400
Atlantic Holdings, which won a $3.76 million foreclosure judgment,
based on $2.6 million in loan principal, plus interest and fees.
That was the only debt listed in the case.

Trademark Developers valued its assets at $3.95 million.

Hollywood-based attorney Kevin C. Gleason, who represents the
debtor, said the plan is to sell the property for more than the
amount of the foreclosure judgment.

On Aug. 4, he filed a motion to sell the property free and clear of
all liens and claims for $3.95 million to Kalvaitis Group LLC,
managed by Devin Kalvaitis in Parkland. The debtor also filed a
motion to assign the current tenant leases to the buyer.

Trademark Developers built the center on the 2.5-acre site in
1987.

Recent tenants at the retail center include Fellowship Foundation
Recovery Community Center, Toasted Café, Atlantic Fresh Food Mart,
Unique Cutz and Jesse’s Xtreme Sports Bar.

                     About Traders Developers

Traders Development Ltd.-- located at 5432 W Atlantic Blvd.
Margate, FL 33063 -- is the owner of commercial strip centers.

Traders Developers Ltd. sought Chapter 11 protection (Bankr. N.D.
Fla. Case No. 21-17632) on August 3, 2021. In the petition signed
by Jean Novak, personal representative of the Estate of Lois McHale
Wagner., Traders Developers estimated assets of $3,950,000 and
estimated liabilities of $3,759,628. The case is handled by
Honorable Judge Scott M. Grossman.  Kevin Christopher Gleason,
Esq., of FLORIDA BANKRUPTCY GROUP, LLC, is the Debtor's counsel.


TUFAIL & ASSOCIATES: Taps Evan Weissman as Real Estate Broker
-------------------------------------------------------------
Tufail & Associates, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Maryland to hire Evan Weissman of The
Schiff Home Team of Keller Williams as real estate broker.

The Debtor requires the firm to assist in the sale of some of its
properties located in Baltimore City, MD.

Mr. Weissman disclosed in a court filing that he is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached at:

      Evan Weissman
      The Schiff Home Team of Keller Williams
      9505 Reisterstown Road Suite 1S
      Owings Mills, MD 21117
      Phone:  +1 410-240-2922
      Email: evan@schiffhometeam.com

           About Tufail & Associates

Tufail & Associates, LLC, a Gaithersburg, Md.-based company, filed
its voluntary petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. D. Md. Case No. 21-14153) on June 23, 2021.


Nasir Khattak, manager, signed the petition.  At the time of the
filing, the Debtor disclosed total assets of up to $50,000 and
total liabilities of up to $10 million.  David J. Kaminow, Esq., at
Inman Kaminow, P.C., represents the Debtor as legal counsel, while
Evan Weissman of The Schiff Home Team of Keller Williams represents
as its real estate broker.


VERICAST CORP: Moody's Rates New Second Lien Secured Notes 'Caa3'
-----------------------------------------------------------------
Moody's Investors Service rated Vericast Corp.'s proposed second
lien secured notes due 2027 at Caa3. All of Vericast's existing
ratings and the negative outlook remain unchanged.

The proposed second lien notes will be issued in connection with
the company's broader debt exchange, including an exchange of the
existing first lien secured due 2022 and 2024 notes into a mix of
$733 million first lien secured notes due 2026 and approximately
$440 million second lien secured notes due 2027.

The Caa3 rating assigned to the proposed second lien senior secured
notes is contingent upon closing of the transaction as outlined and
are based on Moody's expectation for a post-exchange Caa1 CFR.

Assignments:

Issuer: Vericast Corp.

Senior Secured Regular Bond/Debenture, Assigned Caa3 (LGD6)

RATINGS RATIONALE

The existing Caa3 CFR reflects a debt-heavy capital structure that
is subject to high near-term refinancing risks. A timely completion
of the proposed refinancing, consistent with the proposed terms and
absent any other material changes to the credit profile, with a
significant majority of the existing term loan exchanged or repaid
and all of the $800 million notes due 2022 exchanged or repaid,
would substantially extend the debt maturity profile and alleviate
near term refinancing concerns. Vericast's leverage, with Moody's
adjusted Debt/EBITDA at 5.6x at LTM Q2 2021, is high, considering
the secular pressures in its business model. The company's high
leverage and heavy debt service costs limit financial flexibility
to effectively mitigate the secular business risks.

The ratings continue to garner support from the company's large
scale, strong relationships with its clients and multi-year
contracts varying between 2-4 years for most of its clients, and
strong market positions in the print advertisement and check
printing businesses. Management demonstrated its ability to cut
costs and grow revenues notwithstanding the pressure from declining
check volumes in the past, which had resulted in a good track
record of cash flow generation historically. Vericast believes its
focus on helping financial institution clients grow deposit
accounts creates a value-added relationship that improves customer
retention.

The proposed second lien senior secured notes due 2027 are rated
Caa3 and reflects an expected post-exchange Caa1-PD expected
probability of default rating, an average expected family recovery
rate of 50% at default given the mix of first and second lien
secured debt in the post-exchange capital structure, and the second
lien notes junior position in a capital structure.

The negative outlook reflects the uncertainty surrounding the
company's ability to amend and extend its term loan and refinance
its the senior notes such that the company's capital structure
becomes sustainable.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

Vericast's post-exchange CFR is expected to be upgraded to Caa1 if
the company can complete the recapitalization transaction resulting
in a sustainable capital structure with an extended debt maturity
profile and supportive of adequate liquidity.

Failure to refinance the 2022 and 2023 maturities as part of the
proposed refinancing could lead to a downgrade.

The principal methodology used in this rating was Media published
in June 2021.

Headquartered in San Antonio, TX, Vericast Corp. ("Vericast") is a
provider of check and check related products, direct marketing
services and customized business and home office products. Its
Valassis division offers clients mass delivered and targeted
programs to reach consumers primarily consisting of shared mail,
newspaper and digital delivery in addition to coupon clearing and
other marketing and analytical services. The company's LTM Q2 2021
revenue was $2.6 billion. Vericast is owned by MacAndrews & Forbes
Holdings, Inc. ("MacAndrews"), a wholly owned entity controlled by
Ronald O. Perelman.


VERICAST CORP: Sells $540 Million Junk Bond to Rework Debt Load
---------------------------------------------------------------
Paula Seligson and Katherine Doherty of Bloomberg News reportsthat
Ronald Perelman's Vericast Corp. sold a $540 million junk bond as
part of a wider reworking of its debt that would ultimately give
the company more breathing space.

Vericast, which has businesses focused on marketing, coupons and
checks, priced the offering at a coupon of 11% on the five-year
first-lien secured bonds, according to people with knowledge of the
matter. The size increased from the initial $465 million amount.

A group of lenders -- including hedge fund Chatham Asset Management
-- agreed to purchase the full amount of the deal before it was
officially announced earlier Monday, August 9, 2021.

                      About Vericast Corp.

Headquartered in San Antonio, TX, Vericast Corp. ("Vericast") is a
provider of check and check related products, direct marketing
services and customized business and home office products. Its
Valassis division offers clients mass delivered and targeted
programs to reach consumers primarily consisting of shared mail,
newspaper and digital delivery in addition to coupon clearing and
other marketing and analytical services. The company's 2020 annual
revenue was $2.6 billion. Vericast is owned by MacAndrews & Forbes
Holdings, Inc. ("MacAndrews"), a wholly owned entity controlled by
Ronald O. Perelman.




VERITAS NL: Moody's Affirms B3 CFR & Lowers 1st Lien Debt to B3
---------------------------------------------------------------
Moody's Investors Service affirmed Veritas NL Intermediate Holdings
B.V.'s B3 Corporate Family Rating and downgraded the company's
senior secured debt to B3 from B2. The downgrade of the secured
rating is driven by the increase in secured debt in the overall
capital structure. The company is refinancing a portion of its
existing unsecured debt with an incremental term loan and balance
sheet cash. The affirmation reflects the strong cash generating
potential, but still high financial leverage and potential for
continued revenue declines. The outlook is stable.

RATINGS RATIONALE

Veritas's B3 CFR is driven by its high albeit improving financial
leverage, challenges from an evolving enterprise storage software
market and Moody's expectation of declining revenues. Leverage as
of March 31, 2021 is estimated around 6x pro forma for the
transaction, and excluding certain restructuring and other costs,
but around 7x before those addbacks. Although Moody's expects
declining revenue trends to continue, on-going cost reductions
should offset those declines and improve actual leverage modestly.
The high leverage is offset to some degree by the company's large
cash balance (estimated $580 million pro forma for the
refinancing).

The rating also considers Veritas's leading market position as a
provider of backup and recovery software and its entrenched
position within enterprise customers' critical IT infrastructure.
However, the storage management software market is shifting, and
solutions provided by new entrants and new technologies may erode
Veritas's leading market position over time.

Moody's expects revenues in Veritas's core NetBackup and appliance
product lines (around 61% of revenues) to continue facing
competitive challenges as workloads shift to the cloud, but still
remain relatively stable, while its remaining lines continue to
decline. Overall, Moody's expects low-single digit revenue declines
over the next 12 -18 months.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

The ratings could be upgraded if performance stabilizes, leverage
is on track to be sustained below 6.5x and free cash flow to debt
is on track to exceed 5%. The ratings could be downgraded if
leverage is expected to exceed 8x for an extended period or free
cash flow is expected to be negative (with some cushion while cash
balances remain strong).

Liquidity is good based on an estimated $580 million of cash and
equivalents at close, an undrawn revolver and Moody's expectation
of over $225 million of free cash flow over the next 12 months. The
company is also extending maturity on its $183 million revolving
credit facilities to 2025.

Downgrades:

Issuer: Veritas NL Intermediate Holdings B.V.

Senior Secured Bank Credit Facility, Downgraded to B3 (LGD3) from
B2 (LGD3)

Senior Secured Regular Bond/Debenture, Downgraded to B3 (LGD3)
from B2 (LGD3)

Affirmations:

Issuer: Veritas NL Intermediate Holdings B.V.

Corporate Family Rating, Affirmed B3

Probability of Default Rating, Affirmed B3-PD

Outlook Actions:

Issuer: Veritas NL Intermediate Holdings B.V.

Outlook, Remains Stable

The principal methodology used in these ratings was Software
Industry published in August 2018.

Veritas NL Intermediate Holdings B.V., headquartered in Santa
Clara, California is a provider of storage management, and backup
and recovery software. Veritas is principally owned by investment
funds of the private equity firm, The Carlyle Group. Veritas
generated approximately $1.9 billion of revenue in the fiscal year
ended March 31, 2021.


WASHINGTON PRIME: Committee Taps FTI as Financial Advisor
---------------------------------------------------------
The official committee of unsecured creditors of Washington Prime
Group Inc. and its affiliates seeks approval from the U.S.
Bankruptcy Court for the Southern District of Texas to retain FTI
Consulting, Inc. as its financial advisor.

The firm will render these services:

     (a) assist in the preparation of analyses required to assess
any proposed debtor-in-possession (DIP) financing or use of cash
collateral;

     (b) assist in the assessment and monitoring of the Debtors'
short-term cash flow, liquidity and operating results;

     (c) review financial-related disclosures required by the
court, including schedules of assets and liabilities, statements of
financial affairs and monthly operating reports;

     (d) review the Debtors' analysis of core business assets and
the potential disposition or liquidation of non-core assets;

     (e) review the Debtors' cost/benefit analysis with respect to
the assumption or rejection of various executory contracts and
leases;

     (f) review the Debtors' identification of potential cost
savings, including overhead and operating expense reductions and
efficiency improvements;

     (g) assist in the review and monitoring of the asset sale
process;

     (h) review any tax issues associated with, but not limited to,
claims/stock trading, preservation of net operating losses, refunds
due to the Debtors, plans of reorganization, and asset sales;

     (i) review other financial information prepared by the
Debtors;

     (j) attend meetings and assist in discussions;

     (k) assist in the review or preparation of information and
analysis necessary for the confirmation of a plan and related
disclosure statement;

     (l) evaluate and analyze avoidance actions, including
fraudulent conveyances and preferential transfers;

     (m) assist in the prosecution of committee responses or
objections to the Debtors' motions; and

     (n) render other general business consulting services.

The firm's hourly rates are as follows:

     Senior Managing Directors            $950 - 1,295 per hour
     Directors / Senior Directors /
        Managing Directors                $715 - 935 per hour
     Consultants / Senior Consultants     $385 - 680 per hour
     Administrative / Paraprofessionals   $155 - 290 per hour

Steven Simms, senior managing director at FTI, disclosed in a court
filing that his firm does not hold or represent any interest
adverse to the Debtors' estate.

The firm can be reached through:

     Steven Simms
     FTI Consulting, Inc.
     Three Times Square, 9th Floor
     New York , NY - 10036
     Tel: +1 212 499 3683
     Email: steven.simms@fticonsulting.com

                   About Washington Prime Group

Washington Prime Group Inc. (NYSE: WPG) --
http://www.washingtonprime.com/-- is a retail REIT and a
recognized leader in the ownership, management, acquisition and
development of retail properties. It combines a national
realbestate portfolio with its expertise across the entire
shoppingbcenter sector to increase cash flow through rigorous
management of assets and provide new opportunities to retailers
looking for growth throughout the U.S.

Washington Prime Group and its affiliates sought Chapter 11
protection (Bankr. S.D. Texas Lead Case No. 21-31948) on June 13,
2021. At the time of the filing, Washington Prime Group's property
portfolio consists of material interests in 102 shopping centers in
the United States totaling approximately 52 million square feet of
gross leasable area. The company operates 97 of the 102
properties.

As of March 31, 2021, Washington Prime Group had total assets of
$4.029 billion against total liabilities of $3.471 billion.

The Debtors tapped Kirkland & Ellis, LLP and Kirkland & Ellis
International, LLP as lead bankruptcy counsel; Jackson Walker, LLP
as co-counsel; Alvarez & Marsal North America, LLC as restructuring
advisor; Guggenheim Securities, LLC as investment banker; Deloitte
Tax, LLP as tax services provider; and Ernst & Young, LLP as
auditor.  Prime Clerk LLC is the claims agent, maintaining the page
http://cases.primeclerk.com/washingtonprime     

SVPGlobal, the Debtors' lender, tapped Davis Polk & Wardwell, LLP
and Evercore Group, LLC as its legal counsel and investment banker,
respectively.

The U.S. Trustee for Region 6 appointed an official committee of
unsecured creditors in the Debtors' cases on June 25, 2021.
Greenberg Traurig, LLP and FTI Consulting, Inc. serve as the
committee's legal counsel and financial advisor, respectively.


WATKINS NURSERIES: Court Confirms Second Amended Plan
-----------------------------------------------------
Judge Keith L. Phillips of the U.S. Bankruptcy Court for the
Eastern District of Virginia approved, on a final basis, the
Amended Disclosure Statement of Virginia's Resources Recycled, LLC;
Watkins-Amelia, L.L.C.; and Watkins Nurseries, Inc.  

Judge Phillips also approved and confirmed the Debtors' Second
Amended Plan of Reorganization, as modified, pursuant to Section
1129 of the Bankruptcy Code.

The Second Amended Plan is amended as follows:

  * Class 9 consists of Priority Tax Claims. Allowed Priority Tax
Claims shall accrue interest at the rate of 5% (as opposed to 3%)
and shall be paid in full in the amount of Allowed Priority Tax
Claims in not less than quarterly payments (on July 1, October 1,
January 1, and April 1) within five years from the Petition Date
and in a manner not less favorable than payments to Holders in
Classes 10 through 14.

  * As of June 28, 2021, the amount owed, exclusive of attorney's
fees, to CCG was (i) $158,453.05 (with respect to the agreement
ending 11802), (ii) $189,340.12 (with respect to the agreement
ending 91801) and (iii) $519,732.92 (with respect to the agreement
ending 71902), which amounts shall be paid pursuant to the Security
Agreements and the CCG Stip.  An additional $24,000 in attorney's
fees is owed to CCG, which amount shall be amortized over the
remaining terms in the Security Agreements and the CCG Stip. The
CCG Stip is fully incorporated into the Second Amended Plan and, to
the extent of any ambiguities between the CCG Stip, the Second
Amended Plan and/or this Order, the CCG Stip controls in all
respects. Furthermore, CCG retains each of its rights and remedies
under the CCG Stip and the Security Agreements.

A copy of the order is available for free at https://bit.ly/3xCqBXN
from PacerMonitor.com.


                      About Watkins Nurseries

Watkins Nurseries, Inc. -- http://www.watkinsnurseries.com/-- is a
wholesale and retail tree nursery, plant center, and landscape
design firm established in 1876.  It specializes in field-grown
trees and shrubs that it produces on over 500 acres of farmland.

Virginias Resources Recycled, LLC -- http://www.vrrllc.com/-- is a
commercial and residential land clearing, grinding, grubbing and
logging company located in Central, Virginia.

Watkins-Amelia, LLC, is engaged in activities related to real
estate.

Watkins Nurseries, Virginias Resources and Watkins-Amelia sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va.
Lead Case No. 20-30890) on Feb. 19, 2020.  At the time of the
filing, each Debtor disclosed assets of between $1 million and $10
million and liabilities of the same range.

Paula S. Beran, Esq., at Tavenner & Beran, PLC, is the Debtor's
legal counsel.


WINDSTREAM HOLDINGS: Egan-Jones Withdraws D Sr. Unsecured Ratings
-----------------------------------------------------------------
Egan-Jones Ratings Company, on July 27, 2021, withdrew its 'D'
foreign currency and local currency senior unsecured ratings on
debt issued by Windstream Holdings Inc.

Headquartered in Little Rock, Arkansas, Windstream Holdings Inc
offers telecommunications services to residential and business
customers in rural communities in the United States.



WING'S SPIRIT: Faces Fraud Suits As It Undergoes Liquidation
------------------------------------------------------------
CH-Aviation reports that Hawaiian business charter specialist Wing
Spirit (Honolulu) has been sued for allegedly defrauding "tens of
millions of dollars" from the Japan-Aviation Academy even as the
carrier itself undergoes liquidation.

The charter carrier, which launched in 2019 and placed an order for
fifteen HA-420s, filed for Chapter 11 restructuring in November
2020. However, its restructuring attempts failed, forcing it to
convert the filing to a Chapter 7 liquidation process in March
2021. Proceedings in front of Judge Robert J. Faris at the US
Bankruptcy Court for the District of Hawaii are ongoing. Creditors
have until August 23 to file their claims against the carrier.

Simultaneously, however, the airline has been facing a lawsuit
filed in October 2020, which alleges that its chief executive,
Tejiro Handa, defrauded millions of dollars from the Japan-Aviation
Academy, gaining the trust of Japan's oldest aviation school but
subsequently misusing the investment funds. The Honolulu Civil Beat
online newspaper said the lawsuit alleges Handa abused the
investor's trust, forced it to unnecessarily borrow large amounts
of money, and subsequently remunerated himself rather than invest
in the start-up.

Other airlines filed by various suppliers allege that Wing Spirit
had no intention of paying for various services, including a
USD200,000 refurbishment of an executive terminal at Honolulu
airport.

Wing Spirit ultimately only took two out of its fifteen ordered
HA-420s. While it planned to launch inter-island charters in Hawaii
in 2020, these plans were jeopardised by the COVID-19 pandemic.
During the early phase of the crisis, the carrier committed to
offering USD1 million worth of free flights to Hawaiian doctors to
facilitate their essential travel between hospitals on various
islands. It is not clear what the uptake was.

                     About Wing Spirit Inc.

Wing Spirit Inc. -- https://www.wingspirit.com -- is a Hawaii-based
aviation company. It is an air charter broker and is not a direct
air charter carrier in operational control of aircraft.

Wing Spirit sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Hawaii Case No. 20-01383) on Nov. 29, 2020.  The
petition was signed by Teijiro Handa, president, chief executive
officer and sole director.  At the time of the filing, the Debtor
was estimated to have $10 million to $50 million in both assets and
liabilities.

Judge Robert J. Faris oversees the case.

The Debtor tapped K&L Gates, LLP as its bankruptcy counsel and Choi
& Ito as its local counsel.


WOODSTOCK LANDSCAPING: Seeks to Hire KKB&N CPAs as Accountant
-------------------------------------------------------------
Woodstock Landscaping & Excavating, LLC seeks approval from the
U.S. Bankruptcy Court for the Southern District of New York to hire
KKB&N CPAs as accountant.

The firm's services include the preparation of the Debtor's monthly
operating reports, financial statements and income tax returns.

The firm's hourly rates are as follows:
    
     Rachel Wieboldt, CPA      $200 per hour
     Staff                     $100 per hour

W. Kurt Wieman, CPA, a partner at KKB&N CPAs, disclosed in a court
filing that his firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

The firm holds office at:

     W. Kurt Wieman, CPA
     KKB&N CPAs
     20 Grove Street
     Middletown, NY 10940
     Tel.: 845-342-5818
     Fax: 845-342-5820
     Email: info@kkbncpas.com

              About Woodstock Landscaping & Excavating

Woodstock Landscaping & Excavating, LLC --
http://www.wdstlandscaping.com/-- operates a landscape
installation, maintenance and general excavating business in Ulster
County, N.Y. Its primary customers are real estate developers and
builders in the Mid-Hudson Valley, although it also services
commercial accounts.  The Debtor maintains a nursery in West
Hurley, New York.

Woodstock Landscaping & Excavating sought protection under Chapter
11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 21-35565) on
July 22, 2021. In the petition signed by Theresa Gutierrez,
managing member, the Debtor disclosed up to $500,000 in both assets
and liabilities.

Judge Cecelia G. Morris oversees the case.

The Law Office of Michael D. Pinsky, P.C. and KKB&N CPAs serve as
the Debtor's legal counsel and accountant, respectively.


WR GRACE: Fitch Assigns B+ Rating on New Unsec. Notes Due 2029 'B+'
-------------------------------------------------------------------
Fitch Ratings has assigned a Long-Term Rating of 'B+'/'RR4' to W.
R. Grace Holdings LLC's newly announced unsecured notes due 2029.
Proceeds from the transaction will be used in conjunction with
proceeds from the company's previously issued secured debt and
equity contributions to fund the company's $7.0 billion acquisition
by Standard Industries Holdings.

The issuance of the notes brings a potential long-run capital
structure under Standard Industries into view, with much of the
company's debt profile consisting of secured debt, with a smaller
but still material amount of unsecured debt. Fitch believes this
mix will remain largely unchanged in the medium term, as the
company's debt levels fluctuate based on M&A activity.

KEY RATING DRIVERS

Standard Industries Acquisition: Grace announced on April 26, 2021
that it entered into a definitive agreement under which Standard
Industries will acquire Grace in an all-cash transaction valued at
approximately $7.0 billion, including Grace's pharma fine chemistry
acquisition. The move comes after a number of attempts made by 40
North Management LLC, Standard Industries' investment platform, to
acquire Grace. Fitch believes Grace's cash-generative catalyst
offerings coupled with the opportunity to invest in the Materials
Technologies business made it an attractive acquisition target.
Following the acquisition, Grace will operate as a standalone
company within the portfolio of Standard Industries Holdings.

Durable Increase in Leverage: Fitch has awarded 0% equity credit to
the $270 million in preferred shares associated with the Albemarle
Corporation (BBB/Stable) transaction for which the company also
issued $300 million in new secured debt, and the leveraging nature
of the Standard Industries transaction means Grace's capital
structure will likely operate with higher leverage in the long term
than it has as a public company. Fitch anticipates continued strong
EBITDA generation as Refining Catalyst demand returns to historical
levels; strong, stable FCF generation; and gross debt reduction,
including the redemption of the preferred shares and some term loan
prepayment. However, the sizable amount of debt assumed in 2021
makes the company unlikely to return to pre-2021 levels throughout
the rating horizon.

Specialized Chemical Portfolio: Grace's two business segments offer
highly specialized products with high margins and pricing power.
Grace has been able to pass through costs to customers, and the
Catalysts Technologies segment has consistently generated EBITDA
margins of around 35%, while the Materials Technologies business is
in the low 20% range. These margins are on the high end for
specialty chemical companies, and while somewhat volatile, are
partially insulated by way of solid pass-through rates. Fitch
believes the company will continue to deploy capital in the medium
term to build out the Materials Technologies segment.

Refinery Production Drives Growth: Growth in the Refining
Technologies subsegment, which accounts for roughly 41.5% of
Grace's revenue, is determined primarily by refinery production
utilization levels. Products in this subsegment have various uses,
including cracking hydrocarbon chains in distilled crude oil to
produce transportation fuels, maximizing propylene production and
converting methanol into petrochemical feeds. These are valuable
inputs to a refinery's operations that support the optimization of
crack spreads -- as such, Fitch expects volumes to track refinery
production utilization levels, with high pass-through rates keeping
gross margins relatively stable.

DERIVATION SUMMARY

Grace's EBITDA margins are consistently above 25%, placing the
company firmly within the specialty manufacturer group. The company
is smaller than direct competitor Albemarle, which also produces
lithium and bromine to complement its catalysts. Like NewMarket
Corporation (BBB/Stable), Grace is a leader in a highly specialized
industry, but has a greater appetite for debt funded M&A, and Fitch
expects the company under Standard will operate with a leverage
profile generally consistent with the 'B+' rating category,
generally at or above 5.0x. Aruba Investments, Inc. (B+/Negative)
possesses a comparable leverage profile with similarly resilient
cash flow streams.

Like many chemicals peers, Fitch anticipates Grace's growth to
roughly track economic activity. Fitch projects Grace to generate
consistent FCF margins in the mid-single digits over the forecast
period, given low maintenance capex requirements and relatively
stable earnings, which is consistent with Fitch's views on
Newmarket. Fitch projects Albemarle to generate neutral to negative
FCF throughout the forecast period, given committed large-scale
capital projects.

KEY ASSUMPTIONS

-- Sharp near-term recovery in Catalysts Technologies, with a
    more modest, longer-dated recovery in Materials Technologies;

-- EBITDA margins roughly flat throughout the forecast;

-- Standard transaction closes in 2021;

-- Limited to no upstream dividends to Standard;

-- Bolt-on M&A in Specialty Catalysts and Materials Technologies
    prioritized, with the majority of excess cash going toward
    debt repayment;

-- Solidly positive FCF throughout the forecast period;

-- Total debt with equity credit/operating EBITDA peaks in 2021,
    falling sharply thereafter as the normalization of refinery
    output and voluntary debt reduction drives deleveraging
    efforts to around 5.0x.

The recovery analysis assumes Grace would be reorganized as a
going-concern in bankruptcy rather than liquidated. Fitch has
assumed a 10% administrative claim.

Grace's GC EBITDA assumption is based on forecast 2022 EBITDA. The
going-concern EBITDA estimate reflects Fitch's view of a
sustainable, post-reorganization EBITDA level upon which the
valuation of the company is based. The going-concern EBITDA depicts
a scenario in which severe headwinds in the company's more
commoditized Refining Technologies business, and weak growth in
other segments due to slower macroeconomic activity, leads to a
severe drop in both EBITDA and cash generation. The assumption also
reflects corrective measures taken in the reorganization to offset
the adverse conditions that triggered default, such as cost cutting
efforts and industry recovery.

An enterprise value (EV) multiple of 6.5x EBITDA is applied to the
GC EBITDA to calculate a post-reorganization EV. The multiple is
comparable to the range of historical bankruptcy case study exit
multiples for peer companies, which ranged from 5.0x to 8.0x.
Bankruptcies in this space related either to litigation or to deep
cyclical troughs. The revolving credit facility is assumed to be
drawn at 80%. Fitch's recovery assumptions result in a recovery
rating for the senior secured debt within the 'RR1' range and
results in a 'BB+' rating. The assumptions also result in a
recovery rating for the unsecured debt within the 'RR4' range and
results in a 'B+' rating.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

-- Demonstrated commitment to debt reduction coupled with
    continued cash generation and earnings stability, leading to
    total debt with equity credit/operating EBITDA durably below
    4.5x and/or FFO-adjusted leverage durably below 5.0x;

-- Successful completion of Materials Technologies and Specialty
    Catalysts buildout, resulting in a more conservative capital
    deployment strategy.

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- FFO fixed-charge coverage durably below 2.0x;

-- Loss of leading market positions -- particularly in the
    Refining Technologies business -- leading to total debt with
    equity credit/operating EBITDA durably above 5.5x and/or FFO
    adjusted leverage durably above 6.0x;

-- Reduced ability to pass through costs to customers, leading to
    less stable margins and heightened cash flow risk;

-- More aggressive than anticipated M&A activity, including
    transformative, credit-unfriendly acquisitions, or dividend
    policy otherwise incompatible with management's articulated
    capital deployment.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.

LIQUIDITY AND DEBT STRUCTURE

Strong Liquidity: Grace will face limited maturities until 2024 on
a standalone basis, with full availability on the company's new
$450 million revolving credit facility. Additionally, Fitch
anticipates solid FCF generation through the medium term. Fitch
acknowledges there is incentive for the company to take out the
outstanding preferred shares when possible.

ISSUER PROFILE

W.R. Grace is a specialty chemicals company comprising two business
segments: Grace Catalysts Technologies and Grace Materials
Technologies.

The Grace Catalysts Technologies segment sells fluid catalytic
cracking catalysts used in refining crude oil to produce gasoline
and diesel fuels; hydroprocessing catalysts used in the process of
upgrading heavy oils into lighter more useful products; and
polyolefin catalysts, which are used for the production of
polypropylene and polyethylene thermoplastic resin to enhance the
performance of a wide range of industrial and consumer end-use
applications. Grace holds a leading position in over 80% of
catalyst technologies products.

The Grace Materials Technologies segment produces specialty
silica-based and silica-alumina-based materials used in coatings
and print media applications, as well as for consumer, industrial
and pharmaceutical applications. Grace is a worldwide leader in
specialty silica gel, and its material technologies segment also
supplies raw materials for its catalyst business providing
synergies between the two segments.

ESG Considerations

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.


ZARAPHATH ACADEMY: Taps Legacy Financial as Financial Advisor
-------------------------------------------------------------
Zaraphath Academy Inc. seeks approval from the U.S. Bankruptcy
Court for the Middle District of Florida to hire Jessica Leonard of
Legacy Financial Services and Business Solutions, LLC as bookkeeper
and financial advisor.

The Debtor requires Ms. Leonard's assistance in preparing its
schedules and statements of financial affairs and preparing its
monthly operating reports.

Ms. Leonard will be paid at an hourly rate of $125.00.

Ms. Leonard disclosed in a court filing that she is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The bookkeeper's firm holds office at:

     Jessica Leonard
     Legacy Financial Services and Business Solutions, LLC
     1964 Phoenix Ave.
     Jacksonville FL 32209
     Tel.: 904.235.2334
     Email: Legacyfinancialservices@lfsbs.com

          About Zaraphath Academy

Zaraphath Academy Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 21-01792) on July 21,
2021. Jerry Brent, president, signed the petition. At the time of
the filing, the Debtor disclosed $500,000 to $1 million in assets
and $1 million to $10 million in liabilities.

The Debtor tapped Eric McKay as the legal counsel and Jessica
Leonard as bookkeeper and financial advisor.


ZAYAT STABLES: Ahmed Creditor Fights Bankruptcy Lawyers' Withdrawal
-------------------------------------------------------------------
Alex Wolf of Bloomberg Law reports that Ahmed Zayat's largest
creditor asked a judge to deny his lawyers' bid to withdraw from
his Chapter 7 case, arguing that the move could "throw a wrench"
into the thoroughbred owner's bankruptcy proceedings.

The creditor, MGG Specialty Finance Fund LP, said in a filing that
it's caught in the middle of a dispute between the owner of Triple
Crown winner American Pharoah and his attorneys at Rabinowitz,
Lubetkin & Tully, LLC.

The lawyers are seeking to end their relationship with Zayat nearly
a year into his Chapter 7 case.

                    About Zayat Stables

Headquartered in Hackensack, New Jersey, Zayat Stables owned 203
thoroughbred horses. The horses, which are collateral for the bank
loan, are worth $37 million, according to an appraisal mentioned in
a court paper. Ahmed Zayat said in a court filing that he
personally invested $40 million in the business.

The Company filed for Chapter 11 bankruptcy protection (Bankr.
D.N.J. Case No. 10-13130) on Feb. 3, 2010.  The Company estimated
$10 million to $50 million in assets and the same range of
liabilities as of the bankruptcy filing.  The Debtor tapped Cole,
Schotz, Meisel, Forman & Leonard, P.A., as bankruptcy counsel.


[*] Claims Trading Report - July 2021
-------------------------------------
There were at least 300 claims that changed hands in Chapter 11
corporate cases in July 2021:

                                           No. of Claims
   Debtor                                   Transferred
   ------                                   -----------
Washington Prime Group Inc.                       46
LATAM Airlines Group S.A.                         37
Paper Source, Inc                                 37
Chesapeake Energy Corporation                     20
Lehman Brothers Holdings Inc.                     18
L'Occitane, Inc                                   18
The Hertz Corporation                             16
Boy Scouts of America                             13
FHC Holdings Corporation                           9
Grupo Aeromexico, S.A.B. de C.V.                   7
Henry Ford Village, Inc.                           6
CFO Management Holdings, LLC                       5
Cortlandt Liquidating LLC, et al.                  4
First River Energy, LLC                            4
GDC Technics, LLC                                  4
Herald Hotel Associates, L.P.                      4
Klausner Lumber One LLC                            4
Oleum Exploration, LLC                             4
Abengoa Bioenergy US Holding LLC                   3
Heller Ehrman LLP                                  3
Mallinckrodt plc                                   3
Neelkanth Hotels, LLC                              3
O'Loughlin Ltd.                                    3
BB Airport Van Rental, Inc.                        2
Brazos Electric Power Cooperative, Inc.            2
CEC Entertainment, Inc                             2
DJM Holdings, LTD                                  2
Monarch Group LLC                                  2
Neiman Marcus Group LTD LLC                        2
PNW Healthcare Holdings, LLC                       2
Purdue Pharma L.P.                                 2
RCCI Wind Down Company, Inc.                       2
Sears Holdings Corporation                         2
Wave Computing, Inc.                               2
Algon Corporation                                  1
Briggs & Stratton Corporation                      1
Cachet Financial Services                          1
Figueroa Mountain Brewing, LLC                     1
Forever 21, Inc.                                   1
Gander Mountain Company                            1
GGI Holdings, LLC                                  1
KII Liquidating Inc.                               1
Rocket Transportation, Inc.                        1
RTW Retailwinds, Inc.                              1
The Great Atlantic & Pacific Tea Company, Inc.     1
Veterinary Care, Inc.                              1

Notable claim purchasers for the month of July are:

A. In Washington Prime's case:

        CRG Financial LLC
        100 Union Ave
        Cresskill, NJ 07626

        Bradford Capital Holdings, LP  
        P.O. Box 4353
        Clifton New Jersey
        Brian L. Brager
        E-mail: bbrager@bradforcapitalmgmt.com

B. In LATAM Airlines Group's case:

       Brookdale International Partners, L.P.
       c/o Weiss Asset Management
       222 Berkeley Street, 16th Floor
       Boston, MA  02116
       Attn: Esther Adzhiashvili
       Email: Esther.adzhiashvili@weissasset.com
              legaltrading@weissasset.com
              tradesettlements@weissasset.com
              jgrady@crowell.com

       Corbin Opportunity Fund, L.P.
       c/o Corbin Capital Partners, L.P.
       590 Madison Ave., 31st Floor
       New York, NY 10022
       Attn: Corbin Operations

       Merrill Lynch Credit Products, L.L.C.
       c/o Bank of America Merrill Lynch
       Bank of America Tower - 3rd Floor
       One Bryant Park
       New York, NY 10036
       Attn: Ante Jakic
       Tel: (646) 855-7450
       E-mail: ante.jakic@baml.com

C. In Paper Source's case:

       Bradford Capital Holdings, LP  
       P.O. Box 4353
       Clifton, NJ
       Brian L. Brager
       E-mail: bbrager@bradforcapitalmgmt.com

       Fair Harbor Capital, LLC
       Ansonia Finance Station
       P.O. Box 237037
       New York, NY 10023


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re JR Strano Holdings LLC
   Bankr. S.D. Fla. Case No. 21-17658
      Chapter 11 Petition filed August 4, 2021
         See
https://www.pacermonitor.com/view/IL6HCNY/JR_Strano_Holdings_LLC__flsbke-21-17658__0001.0.pdf?mcid=tGE4TAMA
         represented by: Chad Van Horn, Esq.
                         VAN HORN LAW GROUP, P.A.
                         E-mail: chad@cvhlawgroup.com

In re DenDon, Inc.
   Bankr. N.D. Ga. Case No. 21-55796
      Chapter 11 Petition filed August 4, 2021
         See
https://www.pacermonitor.com/view/H2HYQPA/DenDon_Inc__ganbke-21-55796__0001.0.pdf?mcid=tGE4TAMA
         represented by: M. Denise Dotson, Esq.
                         M. DENISE DOTSON, LLC
                         E-mail: denise@mddotsonlaw.com

In re Maple Grove Studio Partners, LLC
   Bankr. D. Minn. Case No. 21-41402
      Chapter 11 Petition filed August 4, 2021
         See
https://www.pacermonitor.com/view/CJRTNTQ/MAPLE_GROVE_STUDIO_PARTNERS_LLC__mnbke-21-41402__0001.0.pdf?mcid=tGE4TAMA
         Filed Pro Se

In re Jacqueline Cash and Eric Reid
   Bankr. D.N.H. Case No. 21-10475
      Chapter 11 Petition filed August 4, 2021
         represented by: William Gannon, Esq.
                         WILLIAM S. GANNON, PLLC

In re Soto's Auto & Truck Repairs Service, Inc.
   Bankr. M.D. Fla. Case No. 21-04131
      Chapter 11 Petition filed August 6, 2021
         See
https://www.pacermonitor.com/view/NT2E5MI/Sotos_Auto__Truck_Repairs_Service__flmbke-21-04131__0001.0.pdf?mcid=tGE4TAMA
         represented by: Emily S. Clendenon, Esq.
                         STICHTER, RIEDEL, BLAIN & POSTLER, P.A.
                         E-mail: eclendenon@srbp.com

In re Bodytek Fitness Pembroke Pines LLC
   Bankr. S.D. Fla. Case No. 21-17687
      Chapter 11 Petition filed August 5, 2021
         See
https://www.pacermonitor.com/view/IUPA7NA/Bodytek_Fitness_Pembroke_Pines__flsbke-21-17687__0001.0.pdf?mcid=tGE4TAMA
         represented by: Susan D Lasky, Esq.
                         SUE LASKY, PA
                         E-mail: Jessica@SueLasky.com

In re Jimmy Lee Boen and Marshella Rene Boen
   Bankr. D. Kan. Case No. 21-20885
      Chapter 11 Petition filed August 5, 2021
         represented by: Colin Gotham, Esq.
                         EVANS & MULLINIX, P.A.
                         E-mail: cgotham@emlawkc.com

In re SG McIntosh, LLC
   Bankr. W.D. Mo. Case No. 21-40986
      Chapter 11 Petition filed August 6, 2021
         See
https://www.pacermonitor.com/view/KDKLUKA/SG_McIntosh_LLC__mowbke-21-40986__0001.0.pdf?mcid=tGE4TAMA
         represented by: Ryan A. Blay, Esq.
                         WM LAW, PC
                         E-mail: bankruptcy@wagonergroup.com

In re Gregory W. Stevens, Sr. and Madeline M. Stevens
   Bankr. D.N.J. Case No. 21-16319
      Chapter 11 Petition filed August 5, 2021
         represented by: Ellen McDowell, Esq.

In re North Pier Ocean Villas Homeowners Association, Inc.
   Bankr. E.D.N.C. Case No. 21-01760
      Chapter 11 Petition filed August 5, 2021
         See
https://www.pacermonitor.com/view/XZ6SODI/North_Pier_Ocean_Villas_Homeowners__ncebke-21-01760__0001.0.pdf?mcid=tGE4TAMA
         represented by: David J. Haidt, Esq.
                         AYERS & HAIDT, PA
                         E-mail: davidhaidt@embarqmail.com

In re KMCE, Inc
   Bankr. E.D. Tex. Case No. 21-41119
      Chapter 11 Petition filed August 5, 2021
         See
https://www.pacermonitor.com/view/ZFGWOGY/KMCE_Inc__txebke-21-41119__0002.0.pdf?mcid=tGE4TAMA
         represented by: Jeff Carruth, Esq.
                         WEYCER, KAPLAN, PULASKI & ZUBER, PC
                         E-mail: jcarruth@wkpz.com

In re Hi Tork Power, Inc.
   Bankr. S.D. Tex. Case No. 21-32660
      Chapter 11 Petition filed August 5, 2021
         See
https://www.pacermonitor.com/view/GZAMUFQ/Hi_Tork_Power_Inc__txsbke-21-32660__0001.0.pdf?mcid=tGE4TAMA
         represented by: Robert Chamless Lane, Esq.
                         THE LANE LAW FIRM
                         E-mail: notifications@lanelaw.com

In re Sherrie A. Heaton
   Bankr. C.D. Ill. Case No. 21-70578
      Chapter 11 Petition filed August 6, 2021

In re Colin O Hebson and Michelle L Hebson
   Bankr. N.D. Ill. Case No. 21-09349
      Chapter 11 Petition filed August 6, 2021
         represented by: David Welch, Esq.

In re Freedom Sales & Service, LLC
   Bankr. W.D. Tex. Case No. 21-70120
      Chapter 11 Petition filed August 6, 2021
         See
https://www.pacermonitor.com/view/VQENAMY/Freedom_Sales__Service_LLC__txwbke-21-70120__0001.0.pdf?mcid=tGE4TAMA
         represented by: Robert Chamless Lane, Esq.
                         THE LANE LAW FIRM
                         E-mail: notifications@lanelaw.com

In re MI Telegraph II, LLC
   Bankr. E.D. Mich. Case No. 21-46522
      Chapter 11 Petition filed August 8, 2021
         See
https://www.pacermonitor.com/view/K6MID4A/MI_TELEGRAPH_II_LLC__miebke-21-46522__0001.0.pdf?mcid=tGE4TAMA
         represented by: Yuliy Osipov, Esq.
                         OSIPOV BIGELMAN, P.C.
                         E-mail: yo@osbig.com

In re Golden Arrow, Inc.
   Bankr. C.D. Cal. Case No. 21-14299
      Chapter 11 Petition filed August 9, 2021
         See
https://www.pacermonitor.com/view/4ZUNKZI/Golden_Arrow_Inc__cacbke-21-14299__0001.0.pdf?mcid=tGE4TAMA
         represented by: Stephen L. Burton, Esq.
                         STEPHEN L. BURTON
                         E-mail: steveburtonlaw@aol.com

In re Christine Louise Laznicka and Anthony Robert Laznicka
   Bankr. D. Minn. Case No. 21-60284
      See
https://www.pacermonitor.com/view/NMP43OY/CHRISTINE_LOUISE_LAZNICKA_and__mnbke-21-60284__0001.0.pdf?mcid=tGE4TAMA
      Chapter 11 Petition filed August 9, 2021

In re Piotr M Gawron
   Bankr. N.D. Ill. Case No. 21-09428
      Chapter 11 Petition filed August 9, 2021
         represented by: David Herzog, Esq.

In re Secondwave Corporation
   Bankr. W.D. Wash. Case No. 21-41320
      Chapter 11 Petition filed August 9, 2021
         See
https://www.pacermonitor.com/view/COWNWRY/Secondwave_Corporation__wawbke-21-41320__0001.0.pdf?mcid=tGE4TAMA
         represented by: David C. Smith, Esq.
                         LAW OFFICES OF DAVID SMITH, PLLC
                         E-mail: david@davidsmithlaw.com

In re Gagik Sargsyan
   Bankr. C.D. Cal. Case No. 21-11348
      Chapter 11 Petition filed August 10, 2021
         See
https://www.pacermonitor.com/view/VHGHBWA/Gagik_Sargsyan__cacbke-21-11348__0001.0.pdf?mcid=tGE4TAMA
         represented by: Vahe Khojayan, Esq.
                         YK LAW, LLP
                         E-mail: vahe@kglawapc.com

In re 926 Ventura Avenue LLC
   Bankr. N.D. Cal. Case No. 21-41018
      Chapter 11 Petition filed August 10, 2021
         See
https://www.pacermonitor.com/view/EDC4P4Y/926_Ventura_Avenue_LLC__canbke-21-41018__0001.0.pdf?mcid=tGE4TAMA
         represented by: Darya S. Druch, Esq.
                         DARYA S. DRUCH
                         E-mail: darya@daryalaw.com

In re 3211 LLC
   Bankr. S.D. Fla. Case No. 21-17772
      Chapter 11 Petition filed August 10, 2021
         See
https://www.pacermonitor.com/view/FCZYJEQ/3211_LLC__flsbke-21-17772__0001.0.pdf?mcid=tGE4TAMA
         Filed Pro Se

In re Jacob 17 LLC
   Bankr. S.D. Fla. Case No. 21-17776
      Chapter 11 Petition filed August 10, 2021
         See
https://www.pacermonitor.com/view/Z7UAPVI/Jacob_17_LLC__flsbke-21-17776__0001.0.pdf?mcid=tGE4TAMA
         represented by: Joel M. Aresty, Esq.
                         JOEL M. ARESTY P.A.
                         E-mail: aresty@icloud.com

In re Frank Bernarducci
   Bankr. S.D.N.Y. Case No. 21-11439
      Chapter 11 Petition filed August 10, 2021
         represented by: Rachel Blumenfeld, Esq.

In re Felisha S. Cottrell
   Bankr. E.D. Tex. Case No. 21-41130
      Chapter 11 Petition filed August 10, 2021
         See
https://www.pacermonitor.com/view/465PR4Q/Felisha_S_Cottrell__txebke-21-41130__0001.0.pdf?mcid=tGE4TAMA

         represented by: Kevin S. Wiley, Sr., Esq.
                         THE WILEY LAW GROUP, PLLC
                         E-mail: kwiley@wileylawgroup.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.

                            *********

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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
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Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
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                   *** End of Transmission ***