/raid1/www/Hosts/bankrupt/TCR_Public/211025.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Monday, October 25, 2021, Vol. 25, No. 297

                            Headlines

388 ROUTE 22: 3d Cir. Won't Reverse Sale of Property to Kitovsky
ABDOUN ESTATE: Seeks to Hire Osipov Bigelman as Legal Counsel
AGM GROUP: Receives Order for 25K Digital Currency Mining Machines
ALGOMA STEEL: S&P Ups ICR to 'B-' on Stronger Liquidity Position
ALTOS HORNOS DE MEXICO: Exploring U.S. Bankruptcy Filing

BARBARA A. WIGLEY: 8th Cir. Affirms Fraudulent Transfer Ruling
BCT DEALS: Case Summary & 20 Largest Unsecured Creditors
BELVIEU BRIDGE: Rental Income to Fund Plan Payments
CALUMET SPECIALTY: Fitch Withdraws All Ratings
CANADIAN RANCH RIVER: Keen Summit Puts Oklahoma Ranch for Sale

CDW CORP: Sirius Transaction No Impact on Moody's Ba1 CFR
CENTRAL GARDEN: Fitch Affirms 'BB' LT IDR, Outlook Stable
CERTA DOSE: $75,000 DIP Loan, Cash Collateral Access OK'd
CLINIGENCE HOLDINGS: Closes Acquisition of Procare Health
CROWN JEWEL: Seeks to Hire G&B Law as Bankruptcy Counsel

DIGITALTOWN INC: Unsec. Creditors Will Get 24% of Claims in Plan
DIOCESE OF CAMDEN: Dec. 8 Hearing on Disclosure Statement
DOMAN BUILDING: Moody's Assigns First Time B1 Corp. Family Rating
DULUTH ISD 709: Moody's Assigns 'Ba1' Rating to $10MM GO Bonds
DYNOTEC INDUSTRIES: Updates Unsecured Creditors Claims Pay Details

EIF CHANNELVIEW: S&P Affirms 'BB+' Rating, Alters Outlook to Stable
ELECTROTEK CORP: Amends Plan to Resolve Committee Objections
EMPIRE-DOMINION DEVELOPMENT: Unsecureds to Get $317K in Plan
EXACTUS INC: Dr. Janice Nerger Officially Becomes Director
FIELDWOOD ENERGY: Court Narrows Claims in QuarterNorth Suit

FMBC INVESTMENTS: Creditors to be Paid in Full in Liquidating Plan
FR REFUEL: Moody's Assigns First Time 'B3' Corporate Family Rating
FRESH ACQUISITIONS: Creditors Committee Files Liquidating Plan
FULLERTON PACIFIC: Continued Operations to Fund Plan Payments
GIGAMEDIA ACCESS: Top Execs Charged With $50 Mil. Fraud Scheme

GRAN TIERRA: S&P Upgrades ICR to 'B' Amid Higher Oil Prices
GRM ENERGY: Case Summary & 24 Largest Unsecured Creditors
HENRY FORD VILLAGE: Unsecureds to Recover 24% to 40% in Plan
HERITAGE CHRISTIAN: May Use Cash Collateral Thru Dec 31
HILCORP ENERGY: S&P Upgrades ICR to 'BB' on Price Deck Revision

HOSPEDERIA VILLA: Wins Cash Collateral Access Thru Oct 31
INNERGEX RENEWABLE: S&P Withdraws 'BB+' Long-Term ICR
INTELSAT SA: CEO Spengler to Retire After Chapter 11 Exit
INTERPACE BIOSCIENCES: Signs $7.5M Credit Pact With Comerica Bank
ISLA DEL CARIBE: Unsecureds Will Get 3% of Claims in 60 Months

JOHN PICCIRILLI: Unsecureds Will Get 5% of Claims in 60 Months
JOHNSON & JOHNSON: LTL Bankruptcy Brings Angry Lawyers to Charlotte
JUSTIN MILLER: Seeks to Hire Anthony J. DeGirolamo as Legal Counsel
JW ALUMINUM: Moody's Affirms B3 CFR, Outlook Remains Stable
KATERRA INC: Gets Court Approval for Plan in Difficult Case

KOSMOS ENERGY: Plans to Offer $400 Million Senior Notes Due 2027
KTR GLOBAL: Unsecured Creditors to Get Up 100% in Plan
KUMTOR GOLD: Defeats Kyrgyz Opposition to $10 Mil. Bankruptcy Loan
LAKE CECILE: Existing Interests to Be Cancelled in Plan
LTL MANAGEMENT: Files Lawsuit to Stop All Talc Claims vs. J&J

M & E TRUCK: Court Confirms Subchapter V Plan
MAIN STREET: Says Income to Pay Unsecureds in Full
MEDLEY LLC: Unsecureds to Recover 2.02% to  2.17% in Plan
MICROVISION INC: CFO Stephen Holt to Retire Next Month
MIDWEST VETERINARY: S&P Affirms 'B-' ICR, Outlook Stable

MOHAMMAD REZA ASSADI: 5th Cir. Affirms Conversion to Chapter 7
MOTUS GROUP: Moody's Assigns First Time B3 Corporate Family Rating
MY SIZE: Files Suit vs Lazar-led Activist Group
NEW HOLLAND: Unsecureds Will Recover 100% Under Plan
NEWDAY GROUP: S&P Affirms 'B+' ICR, Outlook Stable

NEXUS BUYER: S&P Alters Outlook to Stable, Affirms 'B-' ICR
OPTION CARE: Expects to Report $33M-$36M Third Quarter Net Income
OPTION CARE: Moody's Rates New Senior Unsecured Notes 'B3'
OPTION CARE: To Offer $500M Senior Notes
ORG GC MIDCO: GC Services Parent to File Prepack Case Nov. 8

OXFORD FINANCE: Moody's Affirms Ba2 CFR, Outlook Remains Stable
PATH MEDICAL: Wins Cash Collateral Access Thru Dec 31
PHILIPPINE AIRLINES: Nov. 12 Hearing on Disclosures Set
QUOTIENT LIMITED: CEO to Get $1M Under Amended Employment Contract
RANCHO CIELO: Disclosures Inadequate, Santa Fe Says

REDWOOD EMPIRE: Interest Holders to Fund Plan
REGIONAL HOUSING: $2.3MM DIP Loan, Cash Collateral Access OK'd
SAVI TECHNOLOGY: Seeks Access to Cash Collateral
SEAFOOD JUNKIE: Wins Cash Collateral Access Thru Nov 9
SHASTRA USA: Seeks Approval to Hire Mahdavi as Bankruptcy Counsel

SPEED INDUSTRIAL: Voluntary Chapter 11 Case Summary
STONEWAY CAPITAL: GRM Energy Joins Affiliates in Chapter 11
SUMMIT MIDSTREAM: Units Price Private Offering of $700M Sr. Notes
SUNSHINE ADULT: Plan & Disclosures Deadline Extended to Jan. 15
TELIGENT INC: Cash Collateral Access, DIP Loans OK'd

TEXAS TAXI: Seeks Approval to Hire Doeren Mayhew as Accountant
TOWER HEALTH: Fitch Affirms 'B+' LT IDR & Alters Outlook to Stable
TOZ-BEL LLC: Unsecureds Will Recover 5% Under Plan
TPT GLOBAL: Expands Caribbean Presence With New Testing Capacity
TPT GLOBAL: Signs Joint Venture Deal With India's Alpha Design

TPT GLOBAL: Unit Partners With SAMS to Boost COVID Testing Capacity
TRANSMONTAIGNE PARTNERS: Moody's Cuts CFR to B2, Outlook Stable
TRIDENT BRANDS: Incurs $600,733 Net Loss in Third Quarter
TS GILL: No Payments to Unsecured Claims in Plan
UNITED NATURAL: Moody's Hikes CFR to Ba3 & Secured Term Loan to B1

US ECOLOGY: Moody's Affirms Ba3 CFR & Alters Outlook to Negative
VECTOR WP HOLDCO: Moody's Assigns First Time B2 Corp Family Rating
VENUS CONCEPT: Gets FDA 510(k) Clearance for Venus Freedom
VOLUNTEER MOTORSPORTS: Unsecureds Will Get 100% of Claims in Plan
VTV THERAPEUTICS: Names Deepa Prasad as New President, CEO

WASHINGTON PRIME: Emerges From Chapter 11 Bankruptcy
WERNER FINCO: Moody's Ups CFR to B2 & Sr. Secured Term Loan to B1
WIRECO WORLDGROUP: Moody's Ups CFR to B2, Outlook Stable
[^] BOND PRICING: For the Week from October 18 to 22, 2021

                            *********

388 ROUTE 22: 3d Cir. Won't Reverse Sale of Property to Kitovsky
----------------------------------------------------------------
SB Building Associates Limited Partnership is the sole owner of 388
Route 22 Readington Holdings, LLC.  SB is seeking to reverse an
order by the United States Bankruptcy Court for the District of New
Jersey authorizing the trustee for the Debtor, Bunce Atkinson, to
sell the Debtor's property to Leon Kitovksy under 11 U.S.C. Section
363.  SB appealed the sale order to the District Court, but after
the sale closed the Court dismissed the appeal as moot under
Section 363(m).  SB now appeals that dismissal.

The United States Court of Appeals for the Third Circuit agrees
that the property was sold for appropriate value, and affirms the
District Court's order in an Opinion dated Oct. 15, 2021, a
full-text copy of which is available at https://is.gd/L0pLNU from
Leagle.com.

According to the Third Circuit, SB has not identified any
persuasive reason that the Bankruptcy Court's conclusion was
incorrect.  In the Bankruptcy Court, SB argued a $5,000,000 offer
was a better indicator of value than the auction result.  The
Bankruptcy Court, however, concluded it was "illusory," explaining
that Iron Mountain was under no obligation to give the Trustee more
time to close the sale (as that offer required) and the offer
"contain[ed] two substantial, perhaps insurmountable,
contingencies" (resolution of the sewer-capacity litigation and
obtaining a non-conforming use exemption).  The Third Circuit also
pointed out that the Bankruptcy Court also did not err in declining
to hear additional testimony or order a new assessment because it
already had sufficient evidence to determine that the purchase was
for fair value.  There is no clear indication that additional
evidence was needed when it already had the sale price from a
competitive auction, the Third Circuit noted.  In particular, the
Bankruptcy Court found that the auctioneer accurately described the
property's sewer access and concluded that the auction advertising
was adequate.  This was sufficient evidence to conclude that the
property was sold for appropriate value, the Third Circuit held.

"It has now been ten years since Iron Mountain obtained the
foreclosure judgment.  Over that decade SB used the bankruptcy
process to delay repeatedly the sale of the Debtor's property.  But
proceedings eventually end.  Section 363(m) serves to promote the
finality of sales, and the District Court properly recognized that
SB's challenge to the sale fails as moot.  Accordingly, we affirm
its order dismissing SB's appeal," the Third Circuit held.

The appeals case is In re: 388 ROUTE 22 READINGTON HOLDINGS, LLC,
Debtor. SB BUILDING ASSOCIATES LIMITED PARTNERSHIP, Appellant, No.
20-2629 (3d Cir.).

                    About 388 Route 22 Readington

388 Route 22 Readington Holdings, LLC is a real estate lessor
headquartered in Morristown, New Jersey.  The company previously
filed for bankruptcy protection on July 31, 2013 (Bankr. D.N.J.
Case No. 13-26699).  On Oct. 9, 2018, it again sought bankruptcy
protection (Bankr. D. N.J. Case No. 18-30155), disclosing $12,000
in assets and $2,995,983 in liabilities. Lawrence S. Berger, Esq.,
at Berger & Bornstein, LLC, represented the Debtor.  The case was
dismissed on Sept. 16, 2020.


ABDOUN ESTATE: Seeks to Hire Osipov Bigelman as Legal Counsel
-------------------------------------------------------------
Abdoun Estate Holdings, LLC seeks approval from the U.S. Bankruptcy
Court for the Eastern District of Michigan to employ Osipov
Bigelman, P.C. to handle its Chapter 11 case.

The hourly rates for the attorneys of Osipov are as follows:

     Jeffrey H. Bigelman, Esq.      $375 per hour
     Yuliy Osipov, Esq.             $375 per hour
     Anthony Miller, Esq.           $340 per hour
     David P. Miller, Esq.          $340 per hour
     Thomas D. DeCarlo, Esq.        $350 per hour
     Paralegal                      $125 per hour

The Debtor paid the firm a retainer in the amount of $13,262.  The
firm will also receive reimbursement for out-of-pocket expenses
incurred.

Yuliy Osipov, Esq., a partner at Osipov Bigelman, disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Yuliy Osipov, Esq.
     Osipov Bigelman, P.C.
     20700 Civic Center Dr., Ste. 420
     Southfield, MI 48076
     Tel: (248) 663-1800
     Email: yo@osbig.com

                 About Abdoun Estate Holdings LLC

Abdoun Estate Holdings, LLC is a single asset real estate debtor
(as defined in 11 U.S.C. Section 101(51B)) based in Southfield,
Mich.

Abdoun Estate Holdings filed its voluntary petition for Chapter 11
protection (Bankr. E.D. Mich. Case No. 21-48063) on Oct. 11, 2021,
listing as much as $10 million in both assets and liabilities.
Ahmad Abulabon, managing member of Abdoun Estate Holdings, signed
the petition.  Yuliy Osipov, Esq., at Osipov Bigelman, P.C.
represents the Debtor as legal counsel.


AGM GROUP: Receives Order for 25K Digital Currency Mining Machines
------------------------------------------------------------------
AGM Group Holdings Inc. has agreed to supply MinerVa Semiconductor
Corp. with 25,000 units of its 100 TH/S MinerVa MV7 ASIC to build
the MinerVa family of crypto miners.  MinerVa is a premier
high-performance ASIC design and manufacturing company and is the
distributor of industrial grade crypto miners to leading global
large-scale mining companies.

MinerVa has influential relationships and resource networks within
the Fintech and Blockchain ecosystems, and provides top-tier
end-to-end technology solutions to notable global blockchain
players like Terawulf Inc. and TrueNorth Data Solutions.  The
Company will soon receive a US$20 million deposit for the crypto
miners. The remainder of the order value will be paid before
delivery commences.

Mr. Steven Sim, chief financial officer of AGMH, commented, "This
order builds on the previous Nowlit order from October 13th and is
a testament to the effectiveness of our new growth strategy as we
continue to solidify our pioneering position in the market.  The
purchase enables us to increase our cashflow, which gives us a
sound financial footing as we begin our plans for mass production
in 2022. Leveraging our advanced hardware and computing equipment
production capabilities, we believe we are well-positioned to
capture the vast growth opportunities in this thriving industry."

                     About AGM Group Holdings

Headquartered in Wanchai, Hong Kong, AGM Group Holdings Inc. is a
software company, currently providing fintech software and trading
education software and website service.

AGM Group reported a net loss of $1.07 million for the year ended
Dec. 31, 2020, a net loss of $1.56 million for the year ended Dec.
31, 2019, and a net loss of $8.41 million for the year ended Dec.
31, 2018. As of June 30, 2021, the Company had $5.98 million in
total assets, $2.88 million in total liabilities, and $3.09 million
in total shareholders' equity.

Flushing, New York-based JLKZ CPA LLP, the Company's auditor since
2019, issued a "going concern" qualification in its report dated
April 22, 2021, citing that the Company has incurred substantial
losses during the year, which raises substantial doubt about its
ability to continue as a going concern.


ALGOMA STEEL: S&P Ups ICR to 'B-' on Stronger Liquidity Position
----------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on Canada-based
Algoma Steel Inc. to 'B-' from 'CCC+' and removed the company from
CreditWatch, where it was placed with positive implications May
28.

The upgrade follows the closing of the SPAC transaction. Algoma is
set to receive cash proceeds of a little more than US$300 million
from the SPAC transaction, including about US$100 million from
third-party investments and the remainder from Legato. S&P said,
"In our view, Algoma's ability to secure sizable equity financing
confirms the company's ability to access capital markets, with
material funds that bolster liquidity to support investment in
Algoma's asset base. We believe Algoma is now better positioned to
complete its proposed EAF conversion and address its secured term
loan maturing in 2025."

S&P said, "Steel prices remain near historical peak levels and well
above our previous assumptions, which should drive sharply higher
cash in the near term. Hot rolled coil (HRC) prices have
dramatically increased over the past 12 months from about US$500
per short ton (/st) to about US$1,900/st over the past few months.
Algoma has significant operating leverage to higher prices; we
expect the company will generate sharply higher earnings and cash
flow in fiscal 2022 (ending March 31, 2022), well beyond any level
it reached in the past. EBITDA and cash flow from operations will
exceed C$1 billion this fiscal year, which is well above our
forecasts for capital expenditures (capex) at close to C$300
million. We estimate its adjusted debt-to-EBITDA ratio at below 2x
through fiscal 2023. Strong estimated cash generation provides a
significant downside buffer to Algoma's credit profile. Capital
investments are likely to be high for the foreseeable future (and
well above historical annual levels) but much of this will likely
be covered by government funding.

"Proceeds from the SPAC transaction and free cash flow this year
will significantly enhance Algoma's liquidity position. Our free
cash flow estimates incorporate an upward revision to our HRC price
assumptions relative to our previous review (May 2021) for 2021 and
2022. In total, we believe Algoma could maintain cash of at least
C$1 billion through fiscal 2023, which provides strong financial
flexibility to fund high capital investments through this period.

"We also assume additional funding from planned government
investments (C$420 million roughly split between fiscal years 2022
and 2023), although this has yet to be committed. We expect this
funding will be received and applied toward Algoma's proposed EAF
conversion. The estimated total development cost of the project is
C$700 million, incurred through fiscal 2024 (assuming development
commences in fiscal 2022). We also expect Algoma will continue to
invest in its existing steel making facilities, including plate
modernization projects."

The company will remain exposed to historically volatile steel and
input cost prices. Prices remain near historical peak levels, but
they can quickly correct, potentially to the extent that they have
appreciated over the past year, and cycle troughs can be severe.
While S&P does not assume this in its base-case scenario,
expectations for future price volatility are incorporated into its
ratings on the company. Algoma has generated negative EBITDA in two
of the past six fiscal years mainly due to low steel prices, which
has pressured the rating in the past. The company has a history of
filing for creditor protection (albeit, with a larger quantum of
debt). Algoma's margins are also exposed to raw materials like iron
ore (its largest share of input costs) and metallurgical coal,
which are contracted at certain times of year and also highly
volatile. For example, premium low-vol (volatility) metallurgical
coal (Australia freight on board) dramatically appreciated in
recent months and is up almost 300% year to date.

Strategic uncertainty and Algoma's steel production from a single
blast furnace constrain the rating. The company has not made a
formal decision to proceed with the EAF conversion, and it could be
many years before Algoma realizes its benefits if the project
advances. EAF production would represent a meaningful strategic
shift, and there are several unknowns associated with project
completion. S&P awaits more details regarding the planned
conversion and other potential initiatives, which could follow
changes to the company's board of directors as a result of the SPAC
transaction. In the interim, its ratings continue to incorporate
Algoma's small scale relative to rated steel producers in the U.S.
The company has comparably lower output and relies on a single
blast furnace production facility that predominantly produces
commoditized steel products. While unlikely before 2024, Algoma
also faces a future blast furnace reline that could be material.

The stable outlook reflects Algoma's much improved liquidity
position and access to capital markets following the company's SPAC
transaction amid sharply higher steel prices this year. S&P said,
"We believe the company's cash position could exceed C$1 billion
through fiscal 2023, with an adjusted debt-to-EBITDA ratio below
2x. In our view, the company has increased capacity to manage
weaker-than-expected operating results that could arise from
materially lower steel margins over the next two years."

S&P said, "We could raise the ratings if, over the next 12 months,
we expect the company will generate meaningfully positive free cash
flow in fiscal 2023 and maintain an adjusted debt-to-EBITDA ratio
below 2x. In this scenario, we would expect the company's cash
position to improve beyond our current estimates, most likely from
higher-than-expected steel prices, with limited future refinancing
risk. Stronger-than-expected cash flow would likely reduce the
financial risks mainly associated with lower (normalized) steel
prices and elevated capital spending in subsequent periods. An
upgrade is also contingent on greater visibility regarding Algoma's
strategic shift to EAF steel production and viability of the
company's longer-term steel production.

"We view a downgrade as unlikely over the next 12 months, mainly
given Algoma's significant prospective cash position. However, we
could lower the ratings if we view the company's long-term capital
structure as unsustainable. Such a scenario would likely include
sharply lower steel prices and margins that persist, resulting in
significant free cash flow deficits, weaker liquidity, and future
refinancing concerns."



ALTOS HORNOS DE MEXICO: Exploring U.S. Bankruptcy Filing
--------------------------------------------------------
Steelmaker Altos Hornos de Mexico is looking at using Chapter 11
protection in the U.S. in order to dispute payments its chairman
and controlling shareholder Alonso Ancira agreed to make in order
to settle bribery allegations in Mexico, the Wall Street Journal
reported, citing people familiar with the matter.

Investment bank Jefferies Group LLC is seeking financing to keep
the steelmaker operating through the bankruptcy process, the people
told the WSJ.

According to the WSJ, the Mexican steelmaker is exploring a U.S.
bankruptcy filing for Minera del Norte SA, a subsidiary that does
business in the U.S.  The chapter 11 filing might provide a venue
for the parent company to dispute an agreement by AHMSA's chairman
to have his company pay Mexico's state-owned oil company to settle
corruption claims against him, according to WSJ's sources.

              About Altos Hornos de Mexico SAB

Altos Hornos de Mexico S.A.B. de C.V., an integrated steel
producer, has two steel plants located in Monclova, Coahuila, and
operates its own iron and metallurgical coal mines. Its current
nominal production capacity is more than 5 million tons of liquid
steel per year, which is then transformed into diverse finished
products. Additionally, AHMSA operates thermal coal mines in
Mexico. It employs over 19,000 workers in steel plants, mines and
services.


BARBARA A. WIGLEY: 8th Cir. Affirms Fraudulent Transfer Ruling
--------------------------------------------------------------
The United States Court of Appeals for the Eighth Circuit affirmed
the judgment of the bankruptcy appellate panel, which affirmed the
bankruptcy court's determination that debtor Barbara A. Wigley's
debt to Lariat Companies, Inc., is excepted from discharge because
it was obtained by actual fraud.

Baja Sol Cantina EP, LLC, entered into a lease agreement with
Lariat in late 2008, with Michael Wigley, Barbara's husband,
personally guaranteeing the company's obligations under the lease.
Baja Sol was evicted for failure to pay rent in mid-2010.  Lariat
thereafter filed suit against Baja Sol and Michael in Minnesota
state court, seeking to recover past-due and future-accruing rent.
While the lease action was pending, Michael transferred some of his
assets -- namely, his interest in the Wigleys' joint checking
account and his limited partnership interests in Spell Capital
Funds II and III -- to Barbara. The state court entered summary
judgment in favor of Lariat in June 2011, awarding more than $2
million in damages.

According to the Eighth Circuit, the bankruptcy court did not
clearly err in finding that Barbara had received a fraudulent
transfer from Michael.  The Wigleys were in financial distress when
Michael transferred his interest in the joint checking account and
his interests in the Spell Capital Funds to Barbara in March 2011.
The bankruptcy court found their stated reason for the transfer --
estate planning -- not credible in light of the evidence that the
Wigleys had not followed their usual practice of consulting with
estate planning professionals, nor were the transfers made in
accordance with their ten-year estate planning cycle.  Moreover,
Barbara later used the funds to pay Michael's creditors, which
negated any estate planning benefit.

The record also supports the bankruptcy court's finding that
Barbara participated in the scheme with the requisite wrongful
intent, the appellate court held.  The Wigleys testified that they
regularly discussed their financial situation and reviewed their
accounts together.  Barbara testified that she knew that Michael
had been sued, and the bankruptcy court fairly inferred that it was
"unrealistic that a possible judgment of [more than $2 million] was
not discussed, especially given the impact it would have had on the
family's financial condition."  The bankruptcy court also relied on
a letter that the Wigleys had submitted to the Internal Revenue
Services in 2012, explaining that they were scrambling to cover
business expenses and fighting to save their home.  The bankruptcy
court did not clearly err in rejecting the assertion that Barbara
did not understand why the funds were being transferred to her and
in finding instead that she decided to protect her husband by
receiving the transfers, thereby "help[ing] M. Wigley evade his
creditors," the appellate court further held.  The evidence thus
supports a finding that Barbara engaged in a "fraud that
'involv[ed] . . . intentional wrong,'" the appellate court
concluded.

A full-text copy of the Decision dated Oct. 18, 2021, is available
at https://tinyurl.com/f9e6us3z from Leagle.com.

The case is Lariat Companies, Inc., Appellee, v. Barbara A. Wigley,
Appellant, No. 20-3132 (8th Cir.).

Barbara A. Wigley filed for chapter 11 bankruptcy protection
(Bankr. D. Minn. Case No. 16-43707)on Dec. 19, 2016, and is
represented by Joel D. Nesset, Esq., at Cozen O'Connor.


BCT DEALS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: BCT Deals, Inc.
          d/b/a Best Costumes & Toy Deals
        2660 East Del Amo Blvd.
        Compton, CA 90221

Chapter 11 Petition Date: October 22, 2021

Court: United States Bankruptcy Court
       Central District of California

Case No.: 21-18156

Debtor's Counsel: Michael Jay Berger, Esq.
                  LAW OFFICE OF MICHAEL JAY BERGER
                  9454 Wilshire Boulevard, 6th Floor
                  Beverly Hills, CA 90212
                  Tel: (310) 271-6223
                  Fax: (310) 271-9805
                  E-mail: michael.berger@bankruptcypower.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Michael J. Ward as president.

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

https://www.pacermonitor.com/view/YM2E35Q/BCT_Deals_Inc__cacbke-21-18156__0001.0.pdf?mcid=tGE4TAMA


BELVIEU BRIDGE: Rental Income to Fund Plan Payments
---------------------------------------------------
Belvieu Bridge Properties Group, LLC, filed with the U.S.
Bankruptcy Court for the District of Maryland a Small Business Plan
of Reorganization dated October 18, 2021.

Belvieu Bridge Properties Group, LLC was formed in 2016 to hold
title to and manage various rental properties in Baltimore City. It
currently owns three properties, residential multi-unit apartment
buildings at 2427-2431 Lakeview Avenue, Baltimore, Maryland 21217,
and 3915-3921 Belvieu Avenue/4610-4614 Wellington Avenue,
Baltimore, Maryland 21215, and a warehouse at 2208 Aisquith Avenue,
Baltimore, Maryland 21218.

As a result of Covid-based restrictions on evictions at both the
federal and state levels, Belvieu was unable to remove non-paying
tenants from their rental units, which severely restricted cash
flow and resulted in its falling behind on mortgage payments. This
forced it to use savings to keep mortgage payments current. With
the continuing moratoria, it became apparent that Belvieu could not
continue its operations without substantial loss. It accordingly
consulted with counsel to discuss the possibility of filing for
relief under Chapter 11 of the Bankruptcy Code and filed the within
case on March 9, 2021, under the provisions of the Small Business
Reorganization Act (SBRA).

The Plan provides for payment of administrative expenses, priority
claims, and secured creditors in full or in part, either in cash or
in deferred cash payments, and provides for payments to unsecured
creditors in an amount greater than they would receive in the event
of a Chapter 7 liquidation. Funds for implementation of the Plan
will be derived from the Debtor's income from the operations of its
business.

The Plan will treat claims as follows:

     * Class B-2 consists of the secured prepetition claim of the
Mayor & City Council of Baltimore (Proof of Claim 5) in the amount
of $420.00 as of the petition date, secured by a statutory lien for
rental registration fees on the Debtor's improved real property at
2427-2431 Lakeview Avenue, Baltimore, Maryland 21217. The holder of
the Class B-2 claim shall retain its lien and this claim shall be
paid in full, with any statutory interest, on the Effective Date of
the Plan.

     * Class B-3 consists of the secured prepetition claim of the
Mayor & City Council of Baltimore (Proof of Claim 6) in the amount
of $3,750.00 as of the petition date, secured by a statutory lien
for environmental citations on the Debtor's improved real property
at 2427-2431 Lakeview Avenue, Baltimore, Maryland 21217. The holder
of the Class B-3 claim shall retain its lien and this claim shall
be paid in full, without interest, in 60 monthly payments of
$62.50.

     * Class B-4 consists of the secured prepetition claim of U.S.
Bank National Association, as Trustee for Velocity Commercial
Capital Loan Trust 2017-2 (Proof of Claim 4) in the amount of
$1,258,782.12 as of the petition date, secured by a deed of trust
against the Debtor's improved real property at 2427-2431 Lakeview
Avenue, Baltimore, Maryland 21217. The holder of the Class B-4
claim shall retain its lien and this claim shall be paid in 360
equal monthly installments of $9,148.90 ($1,258,782.12 amortized
over 30 years at 7.90% interest per annum).

     * Class B-5 consists of the secured prepetition claim of the
Mayor & City Council of Baltimore (Proof of Claim 7) in the amount
of $23,009.67 as of the Petition Date, secured by a statutory lien
for utility charges on the Debtor's improved real property at
3915-3921 Belvieu Avenue/4610-4614 Wellington Avenue, Baltimore,
Maryland 21215. The holder of the Class B-5 claim shall retain its
lien and this claim shall be paid in full, without interest, in 60
monthly payments of $383.49.

     * Class B-6 consists of the secured prepetition claim of
Velocity (Proof of Claim 3) in the amount of $1,515,875.12 as of
the petition date, secured by a deed of trust against the Debtor's
improved real property at 3915-3921 Belvieu Avenue/4610-4614
Wellington Avenue, Baltimore, Maryland 21215. The holder of the
Class B-6 secured claim shall retain its lien and this claim shall
be paid in 360 equal monthly installments of $11,017.46
($1,515,875.12 amortized over 30 years at 7.90% interest per
annum).

     * Class B-7 consists of the secured prepetition claim of the
Mayor & City Council of Baltimore (Proof of Claim 8) in the amount
of $14,335.14 as of the Petition Date, secured by a statutory lien
for property taxes on the Debtor's improved real property at 2208
Aisquith Avenue, Baltimore, Maryland 21218. The holder of the Class
B-7 claim shall retain its lien and this claim shall be paid in
full, without interest, in 60 monthly payments of $238.92.

     * Class B-8 consists of the secured prepetition claim of the
Mayor & City Council of Baltimore (Proof of Claim 7) in the amount
of $13,957.16 as of the Petition Date, secured by a statutory lien
for utility charges on the Debtor's improved real property at 2208
Aisquith Avenue, Baltimore, Maryland 21218. The holder of the Class
B-8 claim shall retain its lien and this claim shall be paid in
full, without interest, in 60 monthly payments of $232.62.

     * Class B-9 consists of the secured prepetition claim of FIG
as Custodian for FIG MD18, LLC and Secured Par (Proof of Claim 2)
in the amount of $20,525.79 as of the petition date, secured by a
lien for property taxes (tax sale) on the Debtor's improved real
property at 2208 Aisquith Avenue, Baltimore, Maryland 21218. The
holder of the Class B-9 claim shall retain its lien and this claim
shall be paid in full, with interest at 12% per annum, in 60
monthly payments of $456.58.

     * Class B-10 consists of the secured prepetition claim of
South End Capital Corporation, Series BC2018 001868 (Proof of Claim
1) in the amount of $568,627.50 as of the petition date, secured by
a deed of trust against the Debtor's improved real property at 2208
Aisquith Avenue, Baltimore, Maryland 21218. By agreement, the
holder of the Class B-10 secured claim shall retain its lien and
this claim shall be paid in full on or before one year after the
Effective Date. The Debtor shall make interest-only payments of
$2,843.14 per month ($568,627.50 at 6.00% per annum) for 12
months.

     * Class C consists of all allowed general unsecured claims
against the Debtor. It is not believed that there are any members
of this Class. If there are any members of this Class, they shall
be paid in full on the Effective Date of the Plan, or as otherwise
provided.

Funds for implementation of the Plan will be derived from the
Debtor's rental income and cash on hand. The Debtor can afford to
make the payments because its existing Projected Disposable Income
is approximately $8,000.00 per month, and, as federal and state
eviction moratoria have expired, the Debtor can evict non paying
tenants and re-rent those units, increasing cash flow.

A full-text copy of the Plan of Reorganization dated October 18,
2021, is available at https://bit.ly/3E6P4s0 from PacerMonitor.com
at no charge.  

Counsel to the Debtor:

     Brett Weiss, #02980 (lawyer@brettweiss.com)
     THE WEISS LAW GROUP, LLC
     6404 Ivy Lane, Suite 650
     Greenbelt, Maryland 20770
     Telephone: (301) 924-4400
     Facsimile: (240) 627-4186

          About Belvieu Bridge Properties Group

Baltimore, Md.-based Belvieu Bridge Properties Group, LLC is the
owner of multi-unit residential apartment buildings located at 3915
Belvieu Avenue & 4610 Wallington Avenue, Baltimore, MD 21215; and
2427-2429 & 2431-2433 Lakeview Avenue, Baltimore, MD 21217.  The
company is the owner of fee simple title to the properties, having
a current value of $2.93 million.

Belvieu Bridge Properties Group filed a voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case
No. 21-11452) on March 9, 2021.  Zenebe Shewayene, managing member,
signed the petition.  At the time of the filing, the Debtor
disclosed total assets of $3,115,322 and total liabilities of
$3,108,307.

Judge David E. Rice oversees the case.

The Weiss Law Group, LLC serves as the Debtor's legal counsel.


CALUMET SPECIALTY: Fitch Withdraws All Ratings
----------------------------------------------
Fitch Ratings has affirmed Calumet Specialty Products Partners
L.P.'s Long-Term Issuer Default Rating (IDR) at 'B-'. Fitch also
affirmed the rating of the secured notes at 'BB-'/'RR1' and
downgraded the unsecured notes to 'CCC+'/'RR5'. The Rating Outlook
is Negative.

Concurrently, Fitch has withdrawn Calumet's ratings for commercial
reasons.

Fitch has chosen to withdraw the ratings of Calumet Specialty
Products Partners L.P. for commercial reasons.

KEY RATING DRIVERS

Improving Liquidity Position: The negative shock to gasoline demand
due to the coronavirus pandemic resulted in significantly lower
crack spreads and refinery margins as utilization rates fell, which
put pressure on the company's Free Cash Flow generation and the
borrowing base on its revolving credit facility. The demand
environment has since begun to recover, and the company now has
$34.5 million in cash and a borrowing base of $355.0 million on its
revolving credit facility, of which $73.3 million is drawn.

High Near-Term Maturities: Although over $400 million in aggregate
of unsecured notes come due in 2022 and 2023, Fitch believes that
should macroeconomic conditions continue to improve, Calumet will
be able to further address these maturities through a combination
of new debt issuance and repayment with FCF.

In terms of additional liquidity levers, fuel refinery asset sales
(like San Antonio in 2019) remain as an option to address the
upcoming maturities; however, refinancing the remaining 2022 and/or
the 2023 maturities with secured notes is not feasible without the
consent of the 2025 noteholders (which was obtained for the
issuance of the 2024 secured notes), due to springing security
provisions under the 2025 notes indenture.

Ongoing Demand Recovery: Fitch expects the downstream recovery will
strengthen in 2H21 driven by increased U.S. vaccination rates, the
passage of a large $1.9T U.S. stimulus package, and the release of
pent-up leisure and holiday travel demand. Core refined product
demand continues to recover, with both gasoline and distillate
having made up most of the declines seen since the pandemic lows of
last year, and crack spreads showing increased strength heading
into the driving season. TSA checkpoint numbers for travelers have
also trended higher in line with higher vaccinations. At the same
time, other factors could slow the return to complete pre-pandemic
demand levels, including a lagged vaccine rollout in Europe and
emerging markets, weakness in international travel, and potentially
sticky changes to working from home and business travel trends.

Strong Specialty Chemicals Position: In the long-run, Fitch views
Calumet's Core Specialty Products segment, which the company
considers its core business, as providing stable and predictable
cash flows that offset the volatility of the company's Fuel
Products segment. The first half of 2021 has been the exception,
with margins compressing for the segment with rising input costs.
The segment benefits from specialized product offerings that
provide value to customers, have relatively strong brand
recognition and generally serve niche end-markets.

Calumet's ongoing orientation toward these products (rather than
fuel products) affords them some insulation from demand pressures
that they would not have enjoyed were they a pure play refiner. The
company's specialty offerings are difficult to replace without
changing the end-product's formulation -- as a result, the risk
associated with them is often largely volumetric.

Additionally, Fitch notes the company is in the process of
transitioning its Great Falls, Montana facility to renewable diesel
conversion. The company intends to do so with the help of a
strategic partner via the formation of a Joint Venture, with
management continuing to focus on investing in its more profitable
Specialties business.

ESG Considerations: Calumet has an ESG Relevance Score of '4' for
Exposure to Environmental Impacts because Gulf Coast refineries and
downstream facilities have exposure to extreme weather events,
namely hurricanes, which periodically lead to extended shutdowns.
This has a negative impact on the credit profile, and is relevant
to the rating in conjunction with other factors.

Additionally, Calumet has an ESG Relevance Score of '4' for
Financial Transparency, due to the auditor's adverse opinion on
Calumet's internal control over financial reporting. This has a
negative impact on the credit profile, and is relevant to the
rating in conjunction with other factors.

DERIVATION SUMMARY

Calumet's current leverage is higher than TPC Group Inc. (TPC;
B-/Negative) or SK Mohawk Holdings, SARL (B/Negative), but is
expected to decline with the company's deleveraging delayed by the
onset of the coronavirus pandemic. The performance of specialty
peers is less reliant on favorable commodity price movements and
therefore less volatile than Calumet's results. SK Blue is
primarily a specialty products producer, and although TPC formerly
had substantial commodity price exposure, this has recently been
mitigated through fixed price contracts.

An explosion at one of TPC's two sites highlights its relative lack
of geographic diversification and heightened event risk relative to
Calumet. Calumet's stated ideal operating profile is
specialty-focused. Operationally, Calumet's many refineries and
facilities throughout the U.S. provide the company with more
flexibility/optionality than similarly-sized peers like TPC, with
the refineries also contributing to earnings volatility.

KEY ASSUMPTIONS

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

-- Rising crude oil prices and supply chain issues pressure near-
    term specialty margins;

-- Crack spreads and refinery utilization rise sharply relative
    to 2020, stabilizing thereafter;

-- Continued investment in specialty chemical products drive low
    to mid-single digit growth;

-- FFO Fixed Charge Coverage around 1.5x in 2022 and beyond.

KEY RECOVERY RATING ASSUMPTIONS

-- The recovery analysis assumes that Calumet would be
    reorganized as a going-concern in bankruptcy rather than
    liquidated. Fitch has assumed a 10% administrative claim.

Going-Concern (GC) Approach

Calumet's GC EBITDA assumption of $180 million is a combination of
a $125 million EBITDA for the specialty products segment and a $55
million EBITDA for the fuel products segment. The GC EBITDA
estimate reflects Fitch's view of a sustainable,
post-reorganization EBITDA level upon which Fitch bases the
enterprise valuation. The segment EBITDA for the specialty segment
reflects its historical margin stability and more specialized
products. The EBITDA estimate for fuel products takes into account
the tailwinds from IMO 2020 that combined would likely lead to more
favorable post-bankruptcy earnings for the fuel products segment as
compared to 2016, when adverse market conditions lead to the
segment generating negative EBITDA.

A multiple of 5.7x EBITDA on a consolidated basis is applied to the
GC EBITDA to calculate a post-reorganization enterprise value. The
choice of this multiple considered the following factors:

-- Fitch used a multiple of 6.0x for Calumet's specialty segment.
    Fitch believes that a highly-specialized chemical company,
    which Fitch usually defines, all else equal, as a chemical
    company with EBITDA margins around 20% or greater, could see a
    post-bankruptcy multiple as high as the mid-single digits;

-- For the fuel products segment, Fitch used a lower multiple of
    5.0x. This reflects the relative uncertainty of the segment's
    cash flows due to its commodity price exposure and is within
    the general 4.0x to 6.0x sales multiple refineries have
    generally realize in an asset sale. The 5.0x multiple is below
    the median 6.1x exit multiple for energy in Fitch's historical
    bankruptcy case study, and reflects typically lower multiples
    for refining versus the broader energy space;

-- The senior secured revolver is expected to be drawn at less
    than currently available borrowing base due to Fitch's
    expectation that this amount would likely reduce as Calumet
    approaches bankruptcy, especially since the borrowing base is
    recalculated monthly and influenced by commodity prices.
    Fitch's recovery analysis also includes Calumet's inventory
    financing obligations;

-- The allocation of value in the liability waterfall results in
    recovery corresponding to 'RR1' recovery for the first-lien
    ABL ($284 million--80% draw on existing borrowing base), and
    financing arrangements, which are each subject to a working
    capital linked borrowing base and are well collateralized, as
    well as for the secured notes ($200 million). The Great Falls
    refinery is temporarily included in the ABL's expanded
    borrowing base. The senior unsecured notes (roughly $1.0
    billion) have a recovery corresponding to 'RR5'.

RATING SENSITIVITIES

Not relevant as the ratings have been withdrawn.

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

Modest Liquidity Buffer: Calumet's revolver has a borrowing base of
$355.0 million as of June 30, 2021, of which $231.1 million is
currently available. Combined with cash of $34.5 million, Calumet
has total liquidity of about $265.6 million. A plurality of the
company's borrowing base is comprised of specialty chemical product
inventory, with the remainder comprised of fixed asset contribution
and fuels. Fitch notes that an adverse demand environment for the
company's fuel products contributed to a material reduction in the
revolver's borrowing base during 2020 from $401.9 million on Dec.
31, 2019.

Maturity Profile: The revolver matures in February 2023. The
company's senior unsecured notes are due in 2022, 2023, and 2025.
The secured notes mature in 2024. Fitch believes that the company
must proactively target near-dated maturities as the demand
environment normalizes.

ISSUER PROFILE

Calumet Specialty Products Partners, L.P. (CLMT) is a producer of
crude oil-based specialty products and fuel products, but considers
specialty products to be its core business. The specialty products
include lubricating oils, solvents, and waxes, and the fuel
products include gasoline, diesel, jet fuel, and asphalt. CLMT is
headquartered in Indianapolis, IN, but has facilities and
refineries throughout the U.S., in Texas, Louisiana, Montana,
Pennsylvania, New Jersey and Missouri.

ESG CONSIDERATIONS

Calumet has an ESG Relevance Score of '4' for Exposure to
Environmental Impacts due to Gulf Coast refineries and downstream
facilities exposure to extreme weather events, namely hurricanes,
which periodically lead to extended shutdowns. This has a negative
impact on the credit profile, and is relevant to the rating in
conjunction with other factors.

Calumet has an ESG Relevance Score of '4' for Financial
Transparency, due to the auditor's adverse opinion on Calumet's
internal control over financial reporting. This has a negative
impact on the credit profile, and is relevant to the rating in
conjunction with other factors.

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.


CANADIAN RANCH RIVER: Keen Summit Puts Oklahoma Ranch for Sale
--------------------------------------------------------------
Gregory S. Milligan as Chapter 11 Trustee for Canadian River Ranch,
LLC, and Daryl Greg Smith and Canadian River Ranch LLC have
retained Keen-Summit Capital Partners LLC and Land Doctors Inc.,
and Ranch Masters as Real Estate Brokers for the Trustee.
​​​​​ ​Brokers will have the sole and exclusive
authority to represent the Debtors, on an exclusive right to sell
basis, in the negotiation of transactions.

The properties up for sale is known as the Canadian River Ranch,
which consist of over 11,400 acres in total and will be sold in
whole or in parts pursuant to a bankruptcy court approved process.

Stalking horse offers are now being considered for this
opportunity.  Further information on the sale, contact Keen Summit
or the Land Doctors:

   Land Doctors
   Attn: Kelly Hurt, Ph.D.
   29848 Co. Rd., 1480
   Allen, OK 74825
   Tel: (580) 421-7512‬
   Email: kelly@landdoctors.com

          -- or --

   Keen-Summit Capital Partners LLC
   1 Huntington Quadrangle, Suite 2C04
   Melville, New York 11747
   Tel: (646) 381-9222

   Harold Bordwin
   Principal & Co-President
   Email: hbordwin@keen-summit.com

   Matt Bordwin
   Principal & Co-President
   Email: mbordwin@keen-summit.com

   Craig Fox
   Senior Managing Director
   Tel: (646) 381-9203
   Email: cafox@keen-summit.com

   Heather Milazzo
   Managing Director
   Tel: (646) 381-9207
   Tel: hmilazzo@keen-summit.com

   Andrew Winn
   Vice President
   Tel: (646) 381-9219
   Email: awinn@keen-summit.com

                    About Canadian River Ranch

Canadian River Ranch, LLC filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Texas Case No.
21-60163) on April 9, 2021. The case is jointly administered with
the Chapter 11 case (Bankr. W.D. Texas Case No. 21-60162) filed by
Daryl Smith, the Debtor's managing member.  Judge Ronald B. King
oversees the Debtor's case.

At the time of the filing, the Debtor disclosed $1 million to $10
million in assets and $10 million to $50 million in liabilities.

Munsch, Hardt, Kopf & Harr, P.C., is the Debtor's legal counsel.

The U.S. Trustee for Region 6 on May 12 disclosed in a court filing
that no official committee of unsecured creditors has been
appointed in the Chapter 11 case.


CDW CORP: Sirius Transaction No Impact on Moody's Ba1 CFR
---------------------------------------------------------
Moody's Investors Service said CDW Corporation's pending
debt-funded acquisition of Sirius Computer Solutions for $2.5
billion will enhance services and solutions offerings related to
hybrid infrastructure, security, as well as cloud and managed
services. The transaction is credit negative, however, given the
increase in leverage arising from the proposed issuance of new debt
to fund the transaction. Despite higher leverage, there is no
impact to the Ba1 Corporate Family Rating of CDW or stable outlook,
because Moody's expects credit metrics, including adjusted debt to
EBITDA, will approach pre-transaction levels by the end of 2022.
The transaction is expected to close in December 2021 subject to
HSR clearance.

Sirius Computer will enhance CDW's overall scale and increase
revenues generated by CDW's Services portfolio to an estimated $1.3
billion from the current $0.9 billion. Pro forma for this
transaction, debt to EBITDA will be elevated to the mid-3x range
(Moody's adjusted), which approaches Moody's 3.5x downgrade
trigger. Moody's expects adjusted EBITDA margins for CDW will
remain above 8%, as profit margins for Sirius Computer are higher
than those for CDW. Adjusted free cash flow to debt will decrease
but remain in the low to mid-teens percentage range. Moody's
expects the majority of free cash flow will be applied to debt
reduction consistent with CDW's unchanged target for 2.5x -- 3.0x
net leverage (roughly 2.9x -- 3.4x Moody's adjusted). CDW has a
good track record for debt repayment after a leveraging acquisition
and has generally been disciplined with its financial policies.

CDW has committed to restoring credit metrics to pre-transaction
levels, so Moody's do not expect additional debt financed
acquisitions or sizable share buybacks in 2022. In contrast, CDW
repurchased over $900 million of common shares with excess cash
over the past several months, and Moody's expect additonal share
buybacks for the remainder of 2021. To the extent CDW revises its
mix of secured and unsecured debt in its capital structure when new
debt is issued to fund the acquisition, there could be changes to
instrument debt ratings.

Based in Vernon Hills, IL, CDW is a leading IT products and
solutions provider to business, government, education, and
healthcare customers in the U.S., UK, and Canada. Moody's expects
net revenue will exceed $23 billion over the next year pro forma
for the acquisition of Sirius Computer.


CENTRAL GARDEN: Fitch Affirms 'BB' LT IDR, Outlook Stable
---------------------------------------------------------
Fitch Ratings has affirmed Central Garden & Pet Company's (Central)
ratings including the Long-Term Issuer Default Rating (IDR) at 'BB'
as well as the instrument ratings of 'BBB-'/'RR1' for the ABL and
'BB'/'RR4' for the unsecured bonds. The Rating Outlook remains
Stable.

Central's 'BB' rating reflects the company's strong market
positions within the pet and lawn and garden segments, ample
liquidity including robust FCF and moderate leverage offset by
limited scale with EBITDA in the low $300 million range. While
Central could give back some of the strong revenue gains over the
past two fiscal years as consumer behavior normalizes
post-pandemic, Fitch expects modest organic revenue growth over the
long term supplemented by acquisitions, with EBITDA margins in the
10% area and annual FCF of $100 million to $200 million. Over time,
Fitch expects the company to manage leverage within its targeted
range of 3.0x to 3.5x.

KEY RATING DRIVERS

Adequate Diversification Within Narrow Set of Verticals: While
Central competes in fewer verticals than peers like Newell Brands
(BB+/Stable) and Spectrum Brands (BB/Rating Watch Positive), the
company's product portfolios within its verticals are broad. Within
pet (58% of fiscal 2020 revenue, 54% of operating income before
corporate expenses), the company produces supplies for a variety of
animals across an array of products including food, treats, toys,
habitats, medical products and grooming supplies. Within the garden
segment (42% of revenue, 46% of operating income), the company's
portfolio is diversified across seeds, fertilizer, pest control,
live plants, wild bird supplies and decor.

Strong Positioning Mitigates High Customer Concentration: With
nearly 50% of revenues derived from the company's top five
customers, customer concentration is high, particularly within the
lawn and garden segment where 65% of revenue is derived from
Walmart (AA/Stable), The Home Depot (A/Stable) and Lowe's. The high
customer concentration is mitigated by high supplier concentration
in the industry as Central along with peers Scotts Miracle-Gro and
Spectrum Brands dominate the space. This dynamic has resulted in
stable share with these customers over time. Central's willingness
and ability to produce private label products for its customers
have enabled it to strengthen these relationships and protect
share, albeit at lower margin contribution. The customer base
within the pet business is more diverse with Central's sales more
evenly spread across national pet chains, independent pet
retailers, grocery stores, warehouse clubs, mass retailers and
internet retailers. The company's track record of innovation and in
some cases, proprietary formula ownership, has helped cement
leading positions in many of the categories in which it competes.

Strong Demand Through the Coronavirus Pandemic: Following a strong
fiscal 2020 where revenue and EBITDA were up 13% and 24%,
respectively, Central's performance in the first three quarters of
fiscal 2021 has remained strong, with revenue up 27% yoy and EBITDA
up 38% reflecting both organic growth and acquisitions. The pet
segment has benefited from increased demand as consumers, confined
to their homes, lavished more attention on their pets while the
prospect of an extended period at home drove more pet adoptions.
This dynamic should support the pet segment over the medium term
due to higher demand levels over the life cycle of pet ownership.
The garden segment also benefited from pandemic-induced shifts in
behavior as consumers, faced with more time at home, redirected
spend from travel and leisure activities to maintaining their
outdoor living spaces.

While the lawn & garden segment tends to be more cyclical, pet
industry sales have historically been more stable through downturns
as pet ownership has remained stable and a large percent of pet
spending is on non-discretionary products like food, medication,
pest protection and waste management. Growth in the sector has been
supported by a trend towards "pet humanization" whereby pet owners
increasingly treat their pets as family resulting in greater
spending. According to the American Pet Products Association, while
overall consumer spending declined during the 2008-2010 period
encompassing the last recession, spending on pets rose 12% during
that timeframe. Central's pet product sales declined around 6.4%
from fiscal 2008 to fiscal 2010 in part due to a portfolio that
skewed towards more discretionary pet products.

Acquisitive Strategy, Well Executed: Central seeks to broaden its
portfolio and fortify its competitive positioning through strategic
acquisitions and has historically been a very active acquiror,
having completed over 50 acquisitions in the past 26 years. Central
closed on four acquisitions over the past year for a total of
around $800 million in cash including DoMyOwn, an online retailer
of professional-grade control products; Hopewell Nursery, a
supplier of live plants; Green Garden Products, a leading provider
of vegetable, herb and flower seed packets; and D&D Commodities, a
provider of wild bird feed. Fitch believes these acquisitions add
both scale and diversification to the company's portfolio while
also providing added expertise in the various segments.

Moderate Leverage, Disciplined Financial Policy: Central's
management targets 3.0x-3.5x leverage and Fitch expects the company
to manage leverage in this range over time. Central does not pay a
dividend and has no plans to institute one for the foreseeable
future given robust growth opportunities within its segments. FCF
has been consistently positive, in the $70 million to $220 million
range, and share repurchases have historically remained well within
FCF. Liquidity is ample with over $500 million in cash and a $400
million undrawn ABL credit facility. The company's earliest funded
maturity is $300 million of senior notes due 2028.

DERIVATION SUMMARY

Central's 'BB' rating reflects the company's diversified portfolio
of products across the pet and lawn and garden segments with market
leading brands and a commitment to maintain leverage (debt/EBITDA)
between 3.0x and 3.5x offset by limited scale with EBITDA in the
$300 million range. The rating incorporates expectations of modest
organic revenue growth over the long term supplemented by
acquisitions, with EBITDA margins in the 10% range and positive FCF
in the $100 million to $200 million range annually.

Similarly rated credits in Fitch's consumer portfolio include ACCO
Brands Corporation (BB/Stable), Spectrum Brands, Inc. (BB/Rating
Watch Positive) and Newell Brands Inc. (BB+/Stable). ACCO Brands
Corporation's 'BB'/Outlook Stable rating reflects the company's
good position in the global office and business products industry.
The ratings are constrained by secular challenges in the office
products industry in North America, Europe and Australia. The
company has taken steps over the last few years to manage costs
given pressures on U.S. organic growth and has executed well on
diversifying its customer base toward higher-growth, higher-margin
channels in North America as well as acquisitions in
better-performing categories and international markets. The rating
also reflects ACCO's good balance sheet management, which has led
to gross leverage trending around 3.0x over time.

Spectrum Brands, Inc.'s current 'BB' rating reflects the company's
diversified portfolio and historical track record of maintaining
gross leverage around 4.0x. The rating also reflects expectations
for modest long-term organic revenue growth, reasonable
profitability and positive FCF. The Positive Watch follows the
proposed sale of the company's Hardware and Home Improvement
business, which represents around 40% of EBITDA, and Fitch's
expectations that gross leverage could trend in the mid-2x range
following the sale, based on the company's updated financial
policy. Fitch would expect to resolve its Watch upon the conclusion
of the sale process and Spectrum's IDR could see a potential
one-notch upgrade to 'BB+'.

Newell's 'BB+'/Outlook Stable rating reflect its diverse portfolio
of strong brands across the learning and development, home
solutions, commercial solutions, outdoor and recreation and home
appliances categories; good geographical presence with a third of
its business coming from international markets; and a strong
digital presence, with digital representing 22% of sales. Fitch's
expects EBITDA will stabilize in the $1.3 billion-$1.4 billion
range beginning 2021, similar to 2019/2020 levels, with gross
debt/EBITDA trending toward mid-3x in 2021 from 4.4x in 2019 on
continued debt reduction.

KEY ASSUMPTIONS

-- Revenue for fiscal 2021 increases over 22% yoy due to
    acquisitions and tailwinds resulting from the pandemic.
    Revenue declines in the mid-to-high single digits in fiscal
    2022 as consumer behaviour patterns normalize with organic
    growth settling in the low single digits thereafter.

-- EBITDA margins in fiscal 2021 increase to 10.3%, up from 10.1%
    in fiscal 2020 on fixed cost leveraging from strong revenue
    performance but dips below 10% in fiscal 2022 on sales
    declines and inflationary pressures. Margins return to around
    10% for the remainder of the forecast benefiting from cost
    cuts and price increases.

-- Following reduced spend in fiscal 2020 due to the pandemic,
    Fitch assumes capex increases to around 2.5% of sales
    resulting in annual FCF in the $100 million to $200 million
    range. Fitch assumes that FCF is deployed towards share
    repurchases and acquisitions.

-- Leverage (debt/EBITDA), which dipped to the mid-2x area in
    fiscal 2020 due to the positive impact of the pandemic on
    EBITDA, increases to the mid-3x area in fiscal 2021 despite
    strong EBITDA growth due to the company's debt raise to pre-
    fund acquisitions. Over the medium term, Fitch expects
    leverage to trend in the 3.0x to 4.0x range depending on the
    size and timing of acquisitions.

RATING SENSITIVITIES

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

-- An upgrade could be considered if the company committed to
    maintaining gross leverage (total debt/EBITDA) below 3.0x
    while maintaining strong top line growth reflecting low single
    digit organic growth and tuck-in acquisitions with EBITDA
    margin in the 10% range.

-- Fitch would also consider an upgrade if the company executed
    more transformative acquisitions that meaningfully increased
    the company's scale with EBITDA approaching $500 million while
    maintaining gross leverage at or under 3.5x.

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

-- Gross leverage (total debt/EBITDA) sustained above 4.0x as a
    result of financial performance below Fitch's expectations,
    such as EBITDA trending toward $250 million.

-- A change in financial policy or a transformative debt financed
    acquisition, absent a concrete plan to reduce leverage below
    4.0x within 24 months of acquisition close, could also lead to
    negative rating actions.

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

Ample Liquidity: Liquidity at June 26, 2021 consisted of $517
million of cash and equivalents (net of $12 million of restricted
cash) and full availability on a $400 million asset-based revolving
credit facility maturing September 2024. The ABL is secured by
substantially all assets of the borrowing parties and is subject to
a borrowing base calculated using a formula based on eligible
receivables and inventory minus certain reserves. The ABL contains
an accordion feature which, at the request of the company and
provided approval of the lenders, allows up to an additional $200
million principal amount available. The facility contains a fixed
charge coverage ratio of 1.0:1.0 that is only triggered when
availability falls below stated thresholds. Fitch expects the
elevated cash balances to be opportunistically deployed for
acquisitions.

Debt Structure: As of June 26, 2021, the company's debt structure
included the undrawn ABL revolver, $300 million 5.125% senior notes
due February 2028, $500 million 4.125% senior notes due October
2030 and $400 million 4.125% senior notes due April 2031. While
there were no borrowings and no letters of credit outstanding under
the credit facility, there were other letters of credit totalling
$1.6 million at quarter end. Fitch expects leverage (total
debt/EBITDA) to end fiscal 2021 (September 2021) around 3.5x.

Recovery Considerations

Fitch has assigned Recovery Ratings (RRs) to the various debt
tranches in accordance with Fitch criteria, which allows for the
assignment of RRs for issuers with IDRs in the 'BB' category. Given
the distance to default, RRs in the 'BB' category are not computed
by bespoke analysis. Instead, they serve as a label to reflect an
estimate of the risk of these instruments relative to other
instruments in the entity's capital structure. Fitch has assigned
the first-lien secured ABL an 'RR1', notched up two from the IDR
and indicating outstanding recovery prospects given default.
Unsecured debt will typically achieve average recovery, and thus
was assigned an 'RR4', in line with the company's IDR.

ISSUER PROFILE

Central Garden & Pet Company is a leading innovator, producer and
distributor of branded and private label products for the lawn &
garden and pet supplies markets in the United States.


CERTA DOSE: $75,000 DIP Loan, Cash Collateral Access OK'd
---------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
authorized Certa Dose Inc. to use cash collateral and obtain
additional borrowing in the amount of $75,000 pursuant to the terms
of the Economic Injury Disaster Assistance loan which was
originated with the U.S. Small Business Administration and is now
held by inventor Dr. Caleb Hernandez who is also the company's
founder.

The cash collateral will be used for working capital and general
operations purposes, as well as to pay for costs and expenses
related to the Debtor's Chapter 11 case.

As of the Petition Date, the Debtor is indebted to the Lender
pursuant to a Settlement Agreement dated November 1, 2020 between
the Inventor and the Debtor regarding the Debtor's key intellectual
property assets. The Debtor admits that the amount of the liens
secured by the Inventor Settlement Agreement is $77,000,000 and the
extent of the liens under the Inventor Settlement Agreement
encumbers all of the Debtor's now existing and hereafter acquired
property and is made subject only to the prior-in-time lien of the
SBA.

The Debtor admits and has adequately demonstrated to the Court that
it is currently indebted on account of the Loan it initially
obtained in June 2020 in the amount of $150,000. The Lender
acquired the Loan on August 11, 2021. The amounts outstanding under
the Loan are secured by, among other things, all of the Debtor's
property. The Debtor granted the SBA a first lien on the Collateral
and the Lender presently holds that First Lien.

The Debtor asserts good, adequate and sufficient cause has been
demonstrated to justify the Debtor's request to enter into the
Amended Loan Agreement with the Lender, and for the Debtor's need
to draw $75,000 under the Amended Loan Agreement as authorized
under the Interim Order. The Debtor is in need of immediate working
capital to preserve its assets and continue to operate its
business.

The SBA and the Inventor are granted valid, binding, enforceable
and automatically perfected liens and/or security interests -- the
Adequate Protection Liens -- on all of the Debtor's assets to the
same validity, extent and priority as existed prepetition.  As
further adequate protection, the SBA and the Inventor are granted
super-priority administrative expense claims to the extent that the
Adequate Protections Liens prove inadequate.

The Debtor's right to use Cash Collateral will expire on 11:59 p.m.
(ET) on November 9, 2021, unless extended by further Court order or
by the parties' written consent.

A further hearing on the matter is scheduled for November 8 at 10
a.m.

A copy of the order is available for free at https://bit.ly/3AW2S6n
from PacerMonitor.com.

                      About Certa Dose, Inc.

Certa Dose Inc. develops, sells and licenses pharmaceutical
products and technology. Its principal business is developing,
selling and licensing its pharmaceutical products and technology.
The Company was designated as an innovation company by Johnson &
Johnson and has received a grant and mentorship from J & J.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 21-11045) on May 30,
2021. In the petition signed by Caleb S. Hernandez, president, the
Debtor disclosed up to $50 million in assets and up to $100 million
in liabilities.

Judge Lisa G. Beckerman presides over the case.

Norma Ortiz, Esq., at Ortis & Ortiz, LLP is the Debtor's counsel.



CLINIGENCE HOLDINGS: Closes Acquisition of Procare Health
---------------------------------------------------------
Clinigence Holdings, Inc. has completed the acquisition of ProCare
Health, Inc.

Based in Garden Grove, California and founded in 2011, ProCare is a
management services organization that currently provides services
for one health maintenance organization ("HMO") and three
independent physician associations ("IPAs") in Southern and
Northern California.  MSOs are business organizations that provide
the necessary administrative infrastructure and technology for
risk-bearing IPAs to function successfully in their relationships
with contracted payors and regulatory agencies.  MSOs enable
physician organizations to succeed in the assumption of financial
and population risk, to improve the organization's performance in
care delivery and to provide actionable data analytics.  ProCare
provides claims administration, compliance, credentialing, quality
management, utilization management, contracting, provider
relations, member services, care management, coding optimization
and financial reporting services, among other services.

Under the terms of the stock purchase agreement, Clinigence issued
759,000 newly-issued shares of common stock to the equity holders
of ProCare at closing in exchange for 100% of the outstanding
equity securities of ProCare.  Additionally, an earnout structure
has been put in place to reward ProCare with any new MSO contracts
in the future.

"The acquisition of ProCare is part of our ongoing growth strategy
and allows us to further expand our portfolio in the MSO segment,"
stated Warren Hosseinion, M.D., chairman and chief executive
officer.  "We are delighted to welcome the ProCare team, whose
expertise and passion will strengthen our company."

"We are delighted to join Clinigence, whose management team has
over 100 years in combined experience in the sector," stated Anh
Nguyen, founder and chief executive officer of ProCare Health.
"ProCare is at the forefront of managed care, focusing on
utilization management, risk-adjusted disease stratification and
assisting providers in delivering quality care to their patients."

                    About Clinigence Holdings

Clinigence Holdings -- http://www.clinigencehealth.com-- is a
healthcare information technology company providing an advanced,
cloud-based platform that enables healthcare organizations to
provide value-based care and population health management.  The
Clinigence platform aggregates clinical and claims data across
multiple settings, information systems and sources to create a
holistic view of each patient and provider and virtually unlimited
insights into patient populations.

Clinigence reported a net loss of $5.65 million in 2020 following a
net loss of $7.12 million in 2019.  As of June 30, 2021, the
Company had $77.36 million in total assets, $10.09 million in total
liabilities, and $67.26 million in total stockholders' equity.

New York, NY-based Marcum LLP, the Company's auditor since 2020,
issued a "going concern" qualification in its report dated March
31, 2021, citing that the Company has a significant working capital
deficiency, has incurred significant losses and needs to raise
additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


CROWN JEWEL: Seeks to Hire G&B Law as Bankruptcy Counsel
--------------------------------------------------------
Crown Jewel Properties, LLC seeks approval from the U.S. Bankruptcy
Court for the Central District of California to employ G&B Law, LLP
to serve as legal counsel in its Chapter 11 case.

The firm's services include:

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

     b. representing the Debtor with respect to bankruptcy issues
in the context of its pending case and representing the Debtor in
contested matters that would affect the administration of the case,
except to the extent that any such proceeding requires expertise in
areas of law outside of G&B's expertise;

     c. assisting the Debtor in the negotiation, formulation and
confirmation of a plan of reorganization or a sale of its assets;

     d. pursuing, litigating or settling litigation related to the
bankruptcy case, including objections to claims and potential
adversary proceedings;

     e. providing other necessary legal services.

The firm's hourly rates are as follows:

     James R. Felton        Partner     $595 per hour
     Yi Sun Kim             Partner     $495 per hour
     Michael J. Conway      Associate   $495 per hour
     Matthew C. Sferrazza   Associate   $395 per hour
     Jeremy H. Rothstein    Associate   $395 per hour
     Arthur A. Greenberg    Of Counsel  $650 per hour
     Douglas M. Neistat     Of Counsel  $650 per hour
     Benjamin S. Seigel     Of Counsel  $625 per hour
     Charles S. Tigerman    Of Counsel  $540 per hour
     Law Clerk                          $175 per hour
     Paralegal/Legal Assistant          $95 to $275 per hour

G&B received a $25,000 pre-bankruptcy retainer.

As disclosed in court filings, G&B is a "disinterested person"
within the meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Douglas M. Neistat, Esq.
     G&B LAW, LLP
     16000 Ventura Boulevard, Suite 1000
     Encino, CA 91436
     Tel: 818-382-6200
     Fax: 818-986-6534
     Email: dneistat@gblawllp.com

                 About Crown Jewel Properties LLC

Crown Jewel Properties, LLC is a single asset real estate debtor
(as defined in 11 U.S.C. Section 101(51B)) based in Signal Hill,
Calif.

Crown Jewel Properties filed its voluntary petition for Chapter 11
protection (Bankr. C.D. Calif. Case No. 21-17872) on Oct. 12, 2021,
listing up to $50 million in assets and up to $10 million in
liabilities.  James Eleopoulos, managing member, signed the
petition.  Judge Neil W. Bason presides over the case.  Douglas M.
Neistat, Esq., at G&B Law, LLP represents the Debtor as legal
counsel.


DIGITALTOWN INC: Unsec. Creditors Will Get 24% of Claims in Plan
----------------------------------------------------------------
DigitalTown, Inc., filed with the U.S. Bankruptcy Court for the
District of Minnesota a First Modified Plan of Reorganization for
Small Business dated October 18, 2021.

Generally, the Plan provides for the reorganization of the Debtor's
business and debt.  All unsecured creditors' claims will be
converted into common stock equity interests in the Debtor.
Unsecured creditors will receive Class C preferred shares which, in
addition to all of the rights of shareholders generally, Class C
shareholders will receive distributions out of the realized
disposable income of the Debtor over the five-year term of the
Plan.

The Debtor intends to reorganize its business operations by
obtaining additional investments and a new equity line of credit
facility to enable it to fully implement its business plan.

The Plan Proponent's financial projections show that the Debtor
will have projected disposable income for the 5-year terms of the
plan of $988,159.

The Debtor proposes to satisfy the claims of the general unsecured
creditors by issuing to them common shares and Class C Preferred
Shares and making preferred distributions to the holders of Class C
Preferred Shares from future income from operations. The Plan
provides for one class of priority claims; one class of non
priority unsecured claims; and two classes of equity security
holders.

Non-priority unsecured creditors holding allowed claims will
receive distributions, which the proponent of this Plan has valued
at approximately 24 cents on the dollar. This Plan also provides
for the payment of administrative and priority claims.

The Plan will treat claims as follows:

     * Class 1 consists of Priority Claims. All allowed claims
entitled to priority under §507(a) of the Code (except
administrative expense claims under §507(a)(2) and priority tax
claims under §507(a)(8). Class 1 Priority Claims will be paid
within thirty days after the effective date of the Plan, unless
other treatments has been agreed upon by the Claimant and the
Debtor.

     * Class 2 consists of Non-Priority Unsecured Claims. All
holders of Class 2 Non-Priority Unsecured Claims are impaired.
Holders of Class 2 Non-Priority Unsecured Claims will receive 20
shares of common stock for each dollar of debt. Additionally, they
will receive one Class C preferred share per dollar of debt, which
entitles them to receive pro rata distributions of disposable
income through the term of the Plan.

     * Class 3 consists of Certain Equity Holders of the Debtor.
Class 3 consists of those equity holders of the Debtor whose shares
were issued in consideration for the conversion of debt into equity
prepetition. Holders of interest will receive one Class C preferred
share for each dollar of debt that was previously converted to
common stock, which will entitle them to receive pro rata
distributions of disposable through the term of the Plan.

     * Class 4 consists of Other Equity Holders of the Debtor. The
equity security holders shall retain their equity and preserve any
voting and distribution rights as existed pre-petition.
Notwithstanding the foregoing, the Debtor shall not issue dividends
to the holders of common stock until the Class C shares expire.

As of the Effective Date, all assets of the estate including all
Net Operating Losses will be revested in the Debtor. Within thirty
days after the Effective Date, the Debtor will issue: 20 shares of
common stock for each dollar of debt to all holders of allowed
Class 2 claims; 1 Class C Preferred Share for each dollar of debt
held by holders of Class 2 claims; and 1 Class C Preferred Share
for each dollar of previously converted debt of Class 3 claims.

All holders of Class C Preferred Shares will be entitled to receive
pro rata distributions of the Debtor's realized disposal income
over the 5-year term of the Plan, and will expire at the earlier
of: (1) the receipt by the creditor of an amount equal to the
allowed amount of their claim; or (2) the end of the five-year term
of the Plan.

A full-text copy of the First Modified Plan of Reorganization dated
October 18, 2021, is available at https://bit.ly/3C7OIkf from
PacerMonitor.com at no charge.

                      About DigitalTown Inc.

Burnsville, Minnesota-based DigitalTown, Inc., owns and operates a
nationwide social networking site of hyper-local on-line
communities built around their domain names and the schools and
communities they represent.

DigitalTown, Inc., sought Chapter 11 protection (Bankr. D. Minn.
Case No. 20-32155) on Sept. 8, 2020.  In the petition signed by CEO
Sam Ciacco, the Debtor disclosed total assets of $2,501 and total
liabilities of $3,524,789 as of the bankruptcy filing.  The Hon.
Katherine A. Constantine is the case judge.  JOSEPH W. DICKER,
P.A., led by Joseph Dicker, is the Debtor's counsel.


DIOCESE OF CAMDEN: Dec. 8 Hearing on Disclosure Statement
---------------------------------------------------------
The Honorable Jerrold N. Poslusny, Jr., has entered an order
setting a hearing on the adequacy of the Disclosure Statement of
the Diocese of Camden, New Jersey on Dec. 8, 2021 at 10:00am in 4C,
400 Cooper Street, Camden, NJ 08101.

Written objections to the adequacy of the Disclosure Statement must
be filed with the Clerk of this Court and served upon counsel for
the Debtor, Counsel for the Creditor's Committee and upon the
United States Trustee no later than 14 days prior to the hearing
before this Court.

                   About The Diocese of Camden

The Diocese of Camden, New Jersey is a non-profit religious
corporation organized pursuant to Title 16 of the Revised Statutes
of New Jersey. It is the secular legal embodiment of the Roman
Catholic Diocese of Camden, a juridic person recognized under Canon
Law.

The Diocese of Camden sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.N.J. Case No. 20-21257) on Oct. 1, 2020.
Reverend Robert E. Hughes, vicar general and vice president, signed
the petition. In the petition, the Debtor disclosed total assets of
$53,575,365 and liabilities of $25,727,209.

Judge Jerrold N. Poslusny Jr. oversees the case.

The Debtor tapped McManimon, Scotland & Baumann, LLC as its
bankruptcy counsel, Eisneramper, LLP, as financial advisor, Cooper
Levenson P.A. and Duane Morris LLP as special counsel.  Prime Clerk
LLC is the Debtor's claims and noticing agent and administrative
advisor.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee of unsecured trade creditors in the Debtor's Chapter 11
case.  The committee is represented by Porzio, Bromberg & Newman,
P.C.


DOMAN BUILDING: Moody's Assigns First Time B1 Corp. Family Rating
-----------------------------------------------------------------
Moody's Investors Service assigned first time ratings to Doman
Building Materials Group Ltd. including B1 corporate family rating,
B1-PD probability of default rating, B3 senior unsecured notes
rating, and SGL-3 speculative grade liquidity rating. The outlook
is stable.

The B3 rating on the company's CAD60 million and CAD325 million
senior unsecured notes maturing in 2023 and 2026, respectively, are
two notches below the B1 CFR, reflecting the noteholders'
subordinate position in the company's capital structure behind the
secured CAD500 million asset based revolving credit facility
maturing in 2024 (unrated).

Assignments:

Issuer: Doman Building Materials Group Ltd.

Corporate Family Rating, Assigned B1

Probability of Default Rating, Assigned B1-PD

Speculative Grade Liquidity Rating, Assigned SGL-3

Senior Unsecured Notes, Assigned B3 (LGD5)

Outlook Actions:

Issuer: Doman Building Materials Group Ltd.

Outlook, Assigned Stable

RATINGS RATIONALE

Doman's B1 CFR is supported by (1) strong market positions in the
Canadian building materials distribution and North American
pressure treated lumber, (2) good geographical diversification with
some vertical integration, (3) good industry fundamentals with
decent long-term growth prospect, (4) Moody's expectation that
leverage will be around 4.9x in the next 12-18 months as wood
products demand and prices decline from higher than normal levels.
Doman's CFR is constrained by (1) concentration in the North
American renovation, repair and remodel end market (primarily
decking and fencing), (2) exposure to sudden and sharp drops in
wood products prices that negatively impact its building materials
distribution business segment, (3) potential integration and
financial challenges as the company pursues growth through
acquisitions, (4) low operating margins mainly driven by its
building materials distribution segment, and (5) adequate
liquidity.

Doman has adequate liquidity (SGL-3) with about CAD103 million of
liquidity sources to cover about CAD35 million of mandatory debt
obligations over the next four quarters. Sources of liquidity
consist of CAD4.4 million of cash (as of June 2021), CAD83.5
million of availability under its CAD500 million revolving credit
facility maturing in December 2024, and Moody's expected positive
free cash flow of about CAD15 million (after regular dividends) in
2022. Doman has a minimum springing fixed charges covenant of 1x if
revolver availability falls below a certain threshold and Moody's
don't expect the covenant to be applicable in the next 4 quarters.
Most of the company's assets are encumbered.

The stable outlook reflects Moody's expectation that Doman will
maintain good operating performance and adequate liquidity over the
next 4 quarters. Moody's also expects the company's earnings over
the next 12-18 months will decline compared to prior period, mainly
driven by the expected decline in wood product demand and prices
from strong levels witnessed in the first half of the year,
resulting in leverage of about 4.9x by end of 2022.

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

Factors that could lead to an upgrade

Maintain strong credit metrics such that leverage (adjusted debt
to EBITDA) is sustained below 4.5x (projected to be around 4.9x in
2022), and RCF/adjusted debt is sustained above 10% (projected to
be around 10% in 2022) based on Moody's forward view.

Improve and maintain good liquidity, with consistent positive free
cash flow generation.

Factors that could lead to a downgrade

Leverage (adjusted debt to EBITDA) is sustained above 5.5x
(projected to be around 4.9x in 2022), or RCF/adjusted debt is
sustained below 5% (projected to be around 10% in 2022) based on
Moody's forward view.

Weakening in liquidity, possibly due to sustained negative free
cash flow.

As a public company, Doman have established and clear reporting
practices. Although the company does not have a public leverage
target, Moody's expect the company to direct most of its internally
generated free cash flow towards improving leverage following the
Hixson Lumber Sales acquisition. The governance consideration also
includes the material ownership by the company's founder.

Environmental risk exposure is moderate for Doman. The company's
manufacturing facilities are exposed to operational disruption
arising from floods, wildfires, and tropical storms. The company is
also exposed to pollution risks at its lumber treatment facilities
and lumber mills which could result in clean-up costs. Social risk
exposure for Doman is moderate as it primarily relates to reliance
human capital and health and safety given the use of heavy
machinery.

Headquartered in Vancouver, Doman Building Materials is a
distributor of building materials and home renovation products with
about 28 distribution centers across Canada, US mainland and
Hawaii. The company is also a leading producer of pressure treated
wood products in North America with about 7 treatment facilities in
Canada and 22 treatment facilities in US with a combined capacity
of about 2 billion board feet. Doman's pro forma revenue for 2020
was CAD2.8 billion.

The principal methodology used in these ratings was Paper and
Forest Products Industry published in October 2018.


DULUTH ISD 709: Moody's Assigns 'Ba1' Rating to $10MM GO Bonds
--------------------------------------------------------------
Moody's Investors Service has assigned underlying Ba1 and enhanced
Aa2 ratings to Duluth Independent School District 709, MN's $10
million Taxable General Obligation Facilities Maintenance Bonds,
Series 2021D. Moody's maintains the district's Ba1 issuer rating,
Ba1 rating on general obligation unlimited tax (GOULT) bonds, Ba1
rating on full term certificates of participation (COP) and Ba2
rating on annual appropriation COPs. The issuer rating reflects the
district's ability to repay debt and debt-like obligations without
consideration of any pledge, security, or structural features.
Following the sale, the district will have $228 million in debt
outstanding. The outlook is positive.

RATINGS RATIONALE

The Ba1 issuer rating reflects the district's history of volatile
financial operations that led to an extended period of chronically
narrow reserves. The financial profile is improving though reserves
remain somewhat limited. The rating also incorporates the
district's strong tax base that serves as a regional economic
center, a long-term trend of declining enrollment that will remain
a credit challenge and the district's above average leverage
related to long-term debt and pension burdens. The coronavirus
pandemic drove a larger than usual enrollment decline during fiscal
2021 though management notes that a combination of lower than
budgeted expenditures and a substantial infusion of state and
federal funding related to the pandemic was more than sufficient to
offset the negative variance and drove an increase in general fund
reserves. The district does not expect any material changes in
reserves during fiscal 2022 because enrollment is beginning to
rebound and federal funding will continue supporting operations.
The district is slated to receive $31 million in American Rescue
Plan Act funding, about $13 million of which will help fund
operations during the current fiscal year.

The Ba1 GOULT rating is equivalent to the Ba1 issuer rating because
of the district's full faith and credit pledge with authority to
raise ad valorem property taxes unlimited as to rate or amount.

The enhanced rating on the Series 2021D GOULT bonds reflects the
additional security provided by the State of Minnesota's School
District Credit Enhancement Program. The Aa2 enhanced programmatic
rating is notched once from the State of Minnesota's Aa1 general
obligation unlimited tax (GOULT) rating and the enhancement program
carries a positive outlook, reflecting the positive outlook on the
State of Minnesota. The enhanced rating reflects sound program
mechanics and the State of Minnesota's pledge of an unlimited
appropriation from its General Fund should the district be unable
to meet debt service requirements. The program's mechanics include
a provision for third party notification of pending deficiency. If
the school district does not transfer funds necessary to pay debt
to the paying agent at least three days prior to the payment due
date, the state will appropriate the payment to the paying agent
directly. Moody's expects to receive a copy of the signed program
applications.

RATING OUTLOOK

The positive outlook reflects the district's improving financial
position. If the district can sustain its recent progress, the
rating is likely to move upward.

FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATING

-- Established track record of stable financial performance

-- Upward movement in State of Minnesota's underlying GOULT rating
(enhanced)

FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATING

-- Inability to maintain a stable financial profile

-- Substantial enrollment declines that further pressure operating
revenue

-- Downward movement in the State of Minnesota's underlying GOULT
rating (enhanced)

-- Weakening of the credit enhancement program mechanics
(enhanced)

LEGAL SECURITY

The GOULT bonds are supported by the district's pledge to levy a
dedicated property tax unlimited as to rate and amount. The GOULT
Bonds are additionally secured by statute.

The full-term COPs do not carry the district's full faith and
credit pledge but are supported by a separate, dedicated levy. The
obligation of the district to make rental payments is absolute and
unconditional and it is not subject to annual appropriation.

The annual appropriation COPs are supported by lease payments which
are subject to annual appropriation. The pledged assets are school
facilities, which Moody's deem to be a more essential asset.

The district's GOULT bonds and Full-Term COPs are additionally
supported by the State of Minnesota's School District Credit
Enhancement Program which provides for an unlimited advance from
the state's General Fund should the district be unable to meet debt
service requirements.

USE OF PROCEEDS

Proceeds will finance several deferred maintenance projects across
the district.

PROFILE

Duluth ISD 709 is located along the Lake Superior shoreline about
150 miles north of the Twin Cities (Minneapolis, Aa1 stable; St.
Paul, Aa1 stable) metropolitan area and has a population of about
94,000 residents. The district provides prekindergarten through
twelfth grade education to residents of the City of Duluth as well
as all or portions of five surrounding townships. Duluth ISD 709
operates nine elementary schools, two middle schools and two high
schools with a current enrollment of about 8,300 students.

METHODOLOGY

The principal methodology used in the underlying rating was US K-12
Public School Districts Methodology published in January 2021.


DYNOTEC INDUSTRIES: Updates Unsecured Creditors Claims Pay Details
------------------------------------------------------------------
DynoTec Industries, Inc., submitted a First Modified Plan of
Reorganization dated October 18, 2021.

Class I consists of the Claim of New Market Bank (Impaired). New
Market Bank has filed a Proof of Claim for an unsecured debt in the
amount of $486,888.14 for two paycheck protection loans that Debtor
believes will be discharged but has not filed a secured claim.
Based on the secured interest of the Internal Revenue Service,
Debtor believes New Market Bank is primed out of any interest in
all the personal property assets of the Debtor but will remain a
secured creditor as to the sister entity of the Debtor, DynoTec
Holdings, Inc. In accordance with the proof of claim filed by New
Market Bank, their claim will be treated as a general unsecured
claim (Class VI).

Class VI consists of General Unsecured Claims (Impaired). This
class shall consist of allowed unsecured claims not entitled to
priority and not treated in any other class in the Plan. The
allowed claims in Class VI are scheduled by the Debtor in the
amount of $3,429,129.65. The holder of a Class VI Allowed Claim
shall be paid the Pro Rata Share of any remaining proceeds of the
sale of assets and after the unclassified claims and secured claims
in Class II, III and IV have been paid in full. Debtor estimates
that there will be approximately $0.00 be distributed from this
sale to Class VI claimants. Based on the available assets, Class VI
creditors will only receive a distribution under this plan if the
assets of the Debtor in combination with the building owned by
DynoTec Holdings, Inc. are sold for more than $283,506.41 higher
than the price those assets are currently on the market for.

Debtor is seeking to sell all of its assets free and clear of all
liens and encumbrances at a sale governed by § 363 of the
Bankruptcy Code. There is as yet no identified buyer and there is
no guarantee that such a buyer will be found. If a buyer or buyers
is identified and a purchase agreement signed, that purchase
agreement will be subject to approval of the Court. In that
instance, Debtor will seek approval of the sale by a motion that
provides, among other provisions, that any buyer's bid may be
topped by another interested buyer who meets certain eligibility
requirements. Debtor has its noncash assets on the market for a
price of $900,000.00.

Debtor estimates that as of the Effective Date it will have
$550,000 in cash and collectible accounts receivable available for
payment of allowed claims. In addition, Debtor believes that if
there is a buyer for the assets of the Debtor, the real estate
owned by DynoTec Holdings, Inc. will be sold to the same buyer. The
real estate has a listed value of $1,250,000.00. New Market Bank
has three loans with Dynotec Holdings, Inc., the sister company of
the Debtor. Those loans are secured by a mortgage on the building
housing the Debtor's operations and owed by Dynotec Holdings.

If the building is sold either to the buyer of the assets of the
Debtor or to another separate buyer on or before the sale of the
Debtor's assets for the listed price, this will have the effect of
reducing the total of the IRS's secured Class II claim by
approximately $265,000 (after payment of the amount owed on
mortgages on that property (approximately $860,000) held by New
Market Bank).

If the buyer of the Debtor's assets pays the listed price of
$900,000 for the noncash assets and any buyer purchases the
building owned by DynoTec Holdings for the listed price of
$1,250,000 and the Debtor has $550,000 in cash assets available on
the Effective Date, the waterfall of payments to claimants in the
various classes will be as set forth to the Plan.

A full-text copy of the First Modified Plan of Reorganization dated
October 18, 2021, is available at https://bit.ly/3E49t0G from
PacerMonitor.com at no charge.

Attorneys for Debtor:

     Kenneth C. Edstrom (148696)
     Sapientia Law Group, PLLC
     Minneapolis, Minnesota 55402
     kene@sapientialaw.com
     612 756-1008

                   About DynoTec Industries

DynoTec Industries, Inc., was founded in 2007 as a transmission
repair and refurbishing shop in Shakopee, Minnesota. DynoTec's 100%
owner is Timothy Lundquist. Typically, the business does from
between $2,000,000 and $3,000,000 in sales per year.  The business
has grown and changed over the years and now primarily caters to
commercial clients.

DynoTec sought protection under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. D. Minn. Case No. 21-30803) on May 14, 2021.  In the
petition signed by Timothy Lundquist, president, the Debtor
disclosed $1,285,850 in assets and $4,398,498 in liabilities.

Judge Kathleen H. Sanberg oversees the case.

Sapienta Law Group is the Debtor's counsel.


EIF CHANNELVIEW: S&P Affirms 'BB+' Rating, Alters Outlook to Stable
-------------------------------------------------------------------
S&P Global Ratings revised the outlook to positive from stable and
affirmed the 'BB+' issue-level ratings on EIF Channelview
Cogeneration LLC's (EIF). The project's recovery rating (95%)
remains '1'.

EIF is an 856-megawatt (MW) combined-cycle gas-fired cogeneration
power plant located adjacent to LyondellBasell Industries' Equistar
Chemicals L.P. (Equistar) refinery east of Houston. Channelview
sells steam and a portion of its electricity to Equistar.
Channelview sells the remainder of its electrical output to third
parties under short-term contracts and into the Electric
Reliability Council of Texas (ERCOT) energy-only merchant power
market. The project is owned by Ares EIF Management LLC, operated
by Siemens A.G. (subcontracted to the Worley Group), and managed by
Power Plant Management Services LLC.

S&P considers EIF Channelview to have very low leverage. The
project paid down approximately 50% of its term loan B (TLB)
balance in the first half of 2021, which has significantly improved
its financial risk, after being able to dispatch electricity during
the winter storm in Texas in which power prices escalated to around
$9,000/MWh.

EIF Channelview's agreements with Equistar partially mitigate its
market exposure for the next several years. The project has
contracted with Equistar to supply 233-MW capacity and 333-MW
electricity under an energy supply agreement (ESA), and up to 1.9
million pounds per hour steam under a steam supply agreement (SSA).
The ESA runs through 2029 and provides stable cash flows during
this period, accounting for about one-third of gross margins in our
forecast. The SSA runs through 2025 (with the option to extend for
four consecutive five-year periods) and constitutes a competitive
advantage as it enables the plant to reduce its effective heat rate
and operate at lower production costs.

Channelview has some redundancy characteristics. Channelview has
four similar combustion turbine units, which it can use in a
variety of configurations, so long as permissible under the plant's
permit. The steam contract relies on only two units. This gives the
plant considerable flexibility and creates redundancies in meeting
contractual obligations. While these factors somewhat offset the
plant's single-asset risk, all units are in the same location and
still bear the same geographic and weather-related risks.

The project is subject to volatile power prices in the energy-only
ERCOT market. The project sells a significant portion of its
generation (up to approximately 60% of its capacity) in the
merchant market, exposing its cash flows to changing power prices.
This volatility can cause cash flows to fall sharply below S&P's
base-case projections if demand proves softer than it anticipates
or if renewable generation production is higher than expected.
Furthermore, ERCOT is an energy-only market where participants are
only paid for selling energy and not for committing to make
capacity available in the future. This is a relative disadvantage
compared with plants operating in regions such as the PJM
interconnection, which have a capacity market and are therefore not
as dependent on spikes in power prices to be made whole. S&P notes
that the capacity prices can also be volatile, as was evident in
the latest PJM auction where capacity prices cleared at $50 per
megawatt hour (MWh) compared to $140/MWh in the last auction.
However, on a relative basis, generators in such regions typically
have greater visibility because of the capacity price component of
the cash flows.

S&P said, "The rating on EIF is constrained by our assessment of
the credit quality of the bank that provides the project's letter
of credit backing its debt service reserve account. This entity is
not rated, but we maintain a confidential credit profile on it. We
consider this counterparty as irreplaceable because, in our view,
the bank does not fully meet the definition of an "acceptable bank"
in the project's financing agreement and hence, does not meet our
criteria for assessing it as replaceable." Absent this cap, EIF's
rating could be in the investment grade category, at which point
the project's rating is subject to a second cap by its revenue
counterparty, LyondellBasell Equistar Chemicals L.P. (Equistar).

The project's financial profile improved significantly in the first
half of 2021. EIF generated exceptionally high revenues during
winter storm Uri and used proceeds to pay down approximately 50% of
its TLB balance, which has improved its coverage ratios. S&P said,
"Because of that, we upgraded the rating to 'BB+' in June 2021. We
expect minimum debt service coverage ratio (DSCR) to be 5.56x in
2029. This coverage ratio together with our view of the project's
business position puts the project's stand-alone rating in the 'a'
category but still limited to a lower range by our view of its
operations counterparty's credit quality, Equistar. We deem EIF's
energy supply and steam agreements with Equistar to be
irreplaceable as they provide stable cash flow and competitive
advantage to the project, which otherwise is exposed to volatile
power prices in the energy-only ERCOT market." Equistar's credit
quality, currently, does not constrain the project rating.

Year to date through the second quarter 2021, the project's
operating performance was modestly below expectations due to a
planned outage that lasted longer than budgeted and a forced
outage. Year to date in 2021, the plant achieved about 86.4%
availability and a 70.7% capacity factor. However, this was more
than offset by the very strong financial performance and subsequent
debt paydown after winter storm Uri.

The positive outlook on EIF follows the improvement in the
creditworthiness of its financial counterparty, which presently
caps EIF's rating. S&P expects the minimum DSCR to be 5.56x in
2029.

S&P could raise the rating on the project's debt over the next 12
months if it views the improvement in project's financial
counterparty as sustained. The project's stand-alone operations
could support a higher rating given its very low leverage but is
constrained by its view of key counterparties to the project.

The potential for downgrade is limited because the project has
significantly reduced leverage, leading to improved DSCR. However,
S&P could lower the rating if:

-- S&P's view of irreplaceable counterparty credit quality
declines,

-- The project pursues any changes to the existing capital
structure that increase leverage; or

-- Power prices significantly decline such that it erodes the
cushion in the project's coverage ratios.



ELECTROTEK CORP: Amends Plan to Resolve Committee Objections
------------------------------------------------------------
Electrotek Corporation submitted a First Modification to the Plan
of Reorganization.

This Modification is necessary to address certain objections to the
Plan made by the Committee of Unsecured Creditors (the "Committee
Objections"). The Committee is the only objecting party to the
Plan. There are no other creditors objecting to the Plan. The
changes proposed are neither material nor adverse to any party and
should be made a part of the Plan approved in this case.

Texas Champion Bank made a PPP Loan pursuant to the CARES Act to
Debtor on or about January 26, 2021. This Loan is federally
guaranteed by the SBA and provides for its forgiveness if certain
conditions are met. The Debtor subsequent to the filing of the
Petition successfully obtained forgiveness of this PPP Loan. Texas
Champion Bank recently filed and then withdrew its Proof of Claim
48 due to the forgiveness of the loan by the Bank. It has also
withdrawn its ballot in the case.

The Pan is modified as follows:

     * Updated Liquidation Analysis. The Debtor has only briefly
evaluated its potential avoidance claims of preferences, fraudulent
transfers, or avoidance of liens to determine which, if any, such
claims are viable. The Committee claims they have done a much
greater analysis of these claims. Regarding preferences most of
those payments appear to have been made in the ordinary course of
the business of the Debtor. The Debtor believes there may be
defenses to many of these claims. Further, several creditors who
received payments during the 90-day period prior to the Petition
Date also hold additional claims against the Debtor's Estate. Many
of the unsecured creditors provided new value after the transfers,
making the claims subject to defenses under 11 U.S.C. § 547(c)(1),
(2) and/or (4). The Debtor expects that the recovery to creditors
as proposed under the Plan from ongoing operations will greatly
exceed any reasonable recovery that could be obtained from pursuit
of possible avoidance actions.

     * Assets. The Debtor revised the Assets it owned as of the
Petition Date after review of its records to address the Committee
Objections.

     * The Debtor estimates that the value of the Real Property in
a forced liquidation sale, such as a foreclosure under Texas law,
would yield net proceeds of approximately 75% of the market value
as scheduled by the Debtor. The Debtor estimates that the value of
all personal property, i.e., receivables, furniture, fixtures,
machinery, equipment and inventory, would be approximate one-half
of market value as scheduled by the Debtor. The Debtor bases its
opinion of value based on a 2019 appraisal of the property.

     * The Debtor revised its liabilities compared to the Assets
owned as of the Petition Date after review of its records to
address the Committee's Objections.

     * Assuming the reduction of the amount of Dhirajal Babaria's
secured claim as has been asserted by the Committee, (although the
Debtor has reviewed the notes, security agreements and UCC-1
filings that support up to $6.1M plus) the Debtor's net assets
would still be negative. Under the liquidation analysis, only
Administrative, Priority and Secured Claims would receive
distributions in a Chapter 7 case. Unsecured Claims would receive
nothing in Chapter 7. Under this Plan, however, Unsecured Claimants
will receive 10% of their Claims, (and up to the full amount of
their Allowed Claim with 3% interest depending on recoveries by the
Plan Agent). This Plan does not contemplate a liquidation of the
Assets.

     * Class 4 Allowed General Unsecured Claims: Class 4 Claimants
shall receive in addition to the 10% of the amount of their Allowed
Claims, payable over 12 months in equal monthly installments
commencing on the first day of the first month following the
Effective Date and continuing on the first day of each month
thereafter, distributions from the Plan Agent.

Article VII. Treatment of Executory Contracts and Unexpired Leases
is modified as follows: "Rejection of Executory Contracts and
Unexpired Leases. All executory contracts and unexpired leases not
assumed by the Debtor as of the Confirmation Date shall be deemed
as rejected by this Plan. The Debtor has filed separate Motions to
assume various executory contracts and leases on the Confirmation
Date."       

Plan Agent. Notwithstanding anything contrary in the Plan, on the
Confirmation Date the Debtor requests that the Court appoint Chris
Moser as Plan Agent. The Plan Agent shall be responsible for
reviewing, investigating, determining and then pursuing any Chapter
5 Causes of Action including the determination of secured status of
the secured claims of DJ Babaria. The Plan Agent shall have 90 days
following the Effective Date to make a report to the Court, the
Debtor and the Unsecured Creditor's Committee regarding such
investigation. The Debtor shall pay such costs of such
investigation by the Plan Agent at his normal hourly billing rate
as a counsel for a Chapter 7 Trustee. The Plan Agent may retain
counsel or accountants to assist him in making such report. Based
on such investigation the Plan Agent shall make his recommendation
regarding pursuing such claims, if any.

Should the Plan Agent determine that pursuit of such claims is of
greater than minimal value to the estate after considering the
costs of collection and collectability he may then pursue such
claims. In doing so he may retain counsel at their normal hourly
rates to pursue such collections. Such rates shall in no event
exceed $350.00 an hour and may include contingent fees no greater
than 40%. In no event shall such collection include claims less
than $25,000.00. The Plan Agent and his collection counsel shall be
paid their fees and costs from the funds they pursue and collect.
The Debtor shall advance up to $10,000 for such fees and costs as
an upfront contribution.

Any recovery on account of any Chapter 5 Causes of Action by the
Plan Agent or otherwise, will be distributed by the Plan Agent on a
pro rata basis to the Class 4 General Unsecured Creditors. The Plan
Agent in his sole discretion shall determine the timing of such
payments to the Class 4 Claimants with Allowed Claims.

In no event shall the return to the Class 4 General Unsecured
Creditors under the Plan, exceed the full amount of their Allowed
Claims plus 3% per annum interest thereon. For the avoidance of
doubt, the disbursement to holders of Class 4 General Unsecured
Creditors will be first reduced by any amount paid to the Plan
Agent on account of his Allowed fees and costs and those of his
counsel and accountants.

A full-text copy of the Modified Plan of Reorganization dated
October 18, 2021, is available at https://bit.ly/2Xzoh7S from
PacerMonitor.com at no charge.

Attorneys for the Debtor:

     Joyce W. Lindauer
     Kerry S. Alleyne
     Guy H. Holman
     Joyce W. Lindauer Attorney, PLLC
     1412 Main Street, Suite 500
     Dallas, Texas 75202
     Telephone: (972) 503-4033
     Facsimile: (972) 503-4034

                  About Electrotek Corporation

Electrotek Corporation, a privately held company that manufactures
electrical equipment and component based in Carrollton, Texas,
filed a voluntary petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case No. 21-30409) on March 8,
2021.  Mike Swerdlow, chief financial officer, signed the petition.
In the petition, the Debtor had estimated assets of between $1
million and $10 million and estimated liabilities of between $10
million and $50 million.

Judge Michelle V. Larson oversees the case.

Joyce W. Lindauer Attorney, PLLC, serves as the Debtor's counsel.


EMPIRE-DOMINION DEVELOPMENT: Unsecureds to Get $317K in Plan
------------------------------------------------------------
Empire-Dominion Development, LLC, filed with the U.S. Bankruptcy
Court for the District of Nevada a Plan of Reorganization.

Since December 2019, the Debtor has been in the business of
planning, developing and consulting for parcels of real property
for management and operations. Debtor has not been received income
but has operated from loans. Debtor's business has not generated
income but has operated from the loans from insiders and from third
party creditors.

The Plan Proponent's financial projections show that the Debtor
will have projected disposable income of $30,000,000. The final
Plan payment is expected to be paid February 28, 2022.

Non-priority unsecured creditors holding allowed claims will
receive distributions, which the proponent of this Plan has valued
at approximately $317,000 cents on the dollar. This Plan provides
for full payment of administrative expenses and priority claims.

Class 3 consists of all non-priority unsecured claims allowed under
§ 502 of the Code. The provision for the claims made is the
$30,000,000 to be paid at settlement of from the Property which is
being renegotiated for reinstatement for a new scheduled settlement
date by November 30, 2021. This would allow for the discharge of
$317,000 Creditors payments as follows:

     * $215,000 – Civil 360 Engineers
      
     * $100,000 – Win Capital

     * $2,000 – Valuation Consultants

The Reorganization Plan will be funded through DIP Lender (Silver
Arch Capital) for ($30,000,000) with an in-house loan of $50,00
based on Debtor's Reorganization plan and Seller of Property
reinstated Purchase and Sales Agreement ("PSA"). Kevin Williams
will serve as the Officer whose attorney has already entered into
negotiations requesting the Seller to reinstate the PSA by or
before October 25, 2021.

A full-text copy of the Plan of Reorganization dated October 18,
2021, is available at https://bit.ly/3poy4t3 from PacerMonitor.com
at no charge.

Attorneys for Debtor:

     JEFFREY J. WHITEHEAD, ESQ.
     jeff@whiteheadburnett.com
     GARY BURNETT, ESQ.
     gary@whiteheadburnett.com
     WHITEHEAD & BURNETT
     6980 O'Bannon Drive
     Las Vegas, Nevada 89117
     Tel: (702) 267-6500
     Fax: (702) 267-6262

              About Empire-Dominion Development

Empire-Dominion Development, LLC, is an LLC which has been in the
business of planning, developing and consulting for parcels of real
property for management and operations since December 2019.

Empire-Dominion filed for Chapter 11 protection (Bankr. D. Nev.
Case No. 21 13399) on July 6, 2021.  The Debtor is represented by
Jeffrey J. Whitehead, Esq. of WHITEHEAD & BURNETT.


EXACTUS INC: Dr. Janice Nerger Officially Becomes Director
----------------------------------------------------------
Following Exactus, Inc.'s compliance with Rule 14f-1 under the
Securities Exchange Act of 1934, Dr. Janice Nerger officially
became a director of the company on Oct. 17, 2021.

                        About Exactus Inc.

Exactus Inc. (OTCQB:EXDI) -- http://www.exactusinc.com-- is a
Nevada corporation organized under the name Solid Solar Energy, Inc
in 2008 and renamed Exactus, Inc. in 2016.  The Company has pursued
opportunities in Cannabidiol since 2019.  During most of 2020 the
Company was engaged in marketing of hemp derived products sourced
from its leased farming operation.

Exactus reported a net loss of $10.94 million for the year ended
Dec. 31, 2020, compared to a net loss of $10.02 million for the
year ended Dec. 31, 2019.  As of June 30, 2021, the Company had
$23.64 million in total assets, $11.62 million in total
liabilities, and $12.02 million in total stockholders' equity.

Henderson, NV-based RBSM LLP, the Company's auditor since 2014,
issued a "going concern" qualification in its report dated April
23, 2021, citing that the Company has an accumulated deficit,
recurring losses, and expects continuing future losses that raises
substantial doubt about the Company's ability to continue as a
going concern.


FIELDWOOD ENERGY: Court Narrows Claims in QuarterNorth Suit
-----------------------------------------------------------
The United States Bankruptcy Court for the Southern District of
Texas, Houston Division, denied QuarterNorth Energy LLC's motion
for summary judgment arguing that Atlantic Maritime Services, LLC,
cannot pursue a lawsuit asserting liens (liens are denominated as
privileges under Louisiana law) against certain non-debtors.  The
Court granted in part and denied in part Atlantic's motion to
dismiss.

Prior to these bankruptcy proceedings, Fieldwood Energy LLC and its
debtor-affiliates were one of the largest producers of oil and gas
in the Gulf of Mexico.  Fieldwood contracted with Atlantic Maritime
Services, LLC, in October 2018 to conduct operations on deepwater
wells in the Gulf of Mexico.  Atlantic performed approximately $14
million worth of drilling services on five leases in 2020.
Fieldwood did not pay Atlantic for its work.

In November 2020, Atlantic commenced lawsuits in the United States
District Court for the Eastern District of Louisiana, requesting a
writ of sequestration directing the United States Marshal to seize
and hold Ecopetrol America, LLC's property interest in the
Mississippi Canyon Area, Block 948 ("MC-948"), and Ridgewood
Katmai, LLC and ILX Prospect Katmai, LLC's property interest in the
Green Canyon Area, Block 40 ("GC-40"), in any hydrocarbons to be
produced by different wells in different locations, and proceeds
from the disposition of those hydrocarbons.

Fieldwood commenced this adversary proceeding seeking an extension
of the automatic stay to prevent Atlantic from pursuing the
Louisiana Lawsuits.  Pursuant to the Plan, and effective on August
27, 2021, Fieldwood sold certain assets to QuarterNorth Energy LLC,
free and clear of encumbrances, including any privileges, including
Fieldwood's 50% interest in GC-40 and 58.9363% interest MC-948.  In
September 2021, QuarterNorth was substituted as the plaintiff in
this adversary proceeding.

QuarterNorth argues that a debt is extinguished under Louisiana law
when the underlying obligation is extinct.  QuarterNorth's
interpretation of "obligation" indicates that only Fieldwood had an
obligation to Atlantic, not any of the working interest owners,
because only Fieldwood had a contractual relationship with
Atlantic.  Therefore, when Fieldwood's obligation to Atlantic was
allegedly "satisfied, settled, and discharged" in bankruptcy, no
party had an obligation to Atlantic.  Without an obligation,
QuarterNorth argues, the privilege no longer exists.

Atlantic argues that its rights under the Louisiana Oil Well Lien
Act against the working interest owners cannot be non-consensually
discharged or released under bankruptcy law or Louisiana law.
Specifically, Atlantic argues that the discharge of Fieldwood's
debt to Atlantic does not affect the liability of any other entity
on that debt under 11 U.S.C. Section 524(e).

The Bankruptcy Court held that if it was dealing solely with the
Section 524(e) discharge, Atlantic is surely correct.  The Court
must examine the confirmed plan to determine whether there was any
effect of the Plan on the obligation that exceeded the discharge.

In assessing the motion for summary judgment, the Court said it
must view the facts in light most favorable to the non-movant,
Atlantic.  The Plan provides that "any distributions and deliveries
to be made on account of Allowed Claims under the Plan shall be in
complete and final satisfaction, settlement, and discharge of and
exchange for such Allowed Claims."  QuarterNorth has not alleged in
its pleadings what "distribution and deliveries" were made to
Atlantic "on account of Allowed Claims under the Plan."
QuarterNorth has not established that Fieldwood's bankruptcy
satisfied Atlantic's claims.  Atlantic contends that its claims
were not satisfied in Fieldwood's bankruptcy.  Because the parties
disagree as to whether Fieldwood's bankruptcy satisfied Atlantic's
claims, there is a genuine dispute as to a material fact, the Court
said.

On the motion to dismiss, the Court pointed out that while its
factual allegations are insufficient for a motion for summary
judgment, QuarterNorth complaint has alleged a plausible claim for
relief.  In resolving all doubts in favor of QuarterNorth, the
Court must assume that Fieldwood's bankruptcy plan satisfied
Atlantic's claims against it and that Atlantic accepted the
"distributions and deliveries" under the Plan.  Accepting that as
true, Atlantic may have no right to assert LOWLA privileges because
any debt owed to it was already satisfied.  QuarterNorth has stated
a plausible claim for relief.

Accordingly, Court held that these Counts are dismissed:

   * Counts I: a declaration that general maritime law applies to
the Drilling Contract, and therefore Atlantic's alleged privileges
and in rem claims are preempted;

   * Count V: a declaration that Atlantic's claims are junior to
other liens and are unsecured under the Plan;

   * Count VII: an extension of the automatic stay; and

   * Count VIII: a preliminary injunction against Atlantic
preventing it from pursuing the Louisiana Lawsuits to avoid harming
the Debtors and their estates).

These Counts are not dismissed:

   * Count II: a declaration that LOWLA does not apply because it
is inconsistent with federal law;

   * Count III: a declaration that the Department of the Interior
(the DOI) must be a party to the Louisiana Lawsuits, but Atlantic
cannot make the DOI a party to the Louisiana Lawsuits;

   * Count IV: a declaration that Atlantic does not hold valid,
perfected liens with respect to four of the five leases because the
leases are in Alabama and Mississippi waters and are not governed
by Louisiana law;

   * Count VI: a declaration that Atlantic's alleged Louisiana
privileges were extinguished under LOWLA upon the satisfaction,
settlement, and discharge of Atlantic's debt under the Plan; and

   * Count IX: a permanent injunction against Atlantic preventing
it from pursuing the Louisiana Lawsuits.

Summary judgment is denied as to Counts II, III, and VI.

A full-text copy of the Memorandum Opinion dated Oct. 15, 2021, is
available at https://tinyurl.com/94nhekt2 and Order is available at
https://tinyurl.com/m3pe8jhd from Leagle.com.

The adversary proceeding is QUARTERNORTH ENERGY LLC AND CERTAIN OF
ITS AFFILIATES, Plaintiff, v. ATLANTIC MARITIME SERVICES LLC,
Defendant, Adversary No. 20-3476 (Bankr. S.D. Tex.).

                      About Fieldwood Energy

Fieldwood Energy -- https://www.fieldwoodenergy.com/ -- is a
portfolio company of Riverstone Holdings focused on acquiring and
developing conventional assets, primarily in the Gulf of Mexico
region. It is the largest operator in the Gulf of Mexico owning an
interest in approximately 500 leases covering over two million
gross acres with 1,000 wells and 750 employees.

Fieldwood Energy and its 13 affiliates previously sought Chapter 11
protection (Bankr. S.D. Tex. Lead Case No. 18-30648) on Feb. 15,
2018, with a prepackaged plan that would deleverage $3.286 billion
of funded by $1.626 billion.

On Aug. 3, 2020, Fieldwood Energy and its 13 affiliates again filed
voluntary Chapter 11 petitions (Bankr. S.D. Tex. Lead Case No.
20-33948). Mike Dane, senior vice president and chief financial
officer, signed the petitions.

At the time of the filing, the Debtors disclosed $1 billion to $10
billion in both assets and liabilities.

Judge David R. Jones oversees the cases.

The Debtors tapped Weil, Gotshal & Manges LLP as their legal
counsel, Houlihan Lokey Capital, Inc. as investment banker, and
AlixPartners, LLP as financial advisor. Prime Clerk LLC is the
claims, noticing, and solicitation agent.

The first-lien group employed O'Melveny & Myers LLP as its legal
counsel and Houlihan Lokey Capital, Inc. as its financial advisor.
The RBL lenders employed Willkie Farr & Gallagher LLP as their
legal counsel and RPA Advisors, LLC as their financial advisor.
Meanwhile, the cross-holder group tapped Davis Polk & Wardwell LLP
and PJT Partners LP as its legal counsel and financial advisor,
respectively.

On Aug. 18, 2020, the Office of the U.S. Trustee appointed a
committee of unsecured creditors.  Stroock & Stroock & Lavan, LLP
and Conway MacKenzie, LLC, serve as the committee's legal counsel
and financial advisor, respectively.


FMBC INVESTMENTS: Creditors to be Paid in Full in Liquidating Plan
------------------------------------------------------------------
FMBC Investments, LLC, filed with the U.S. Bankruptcy Court for the
Middle District of Tennessee a Disclosure Statement in connection
with its Plan of Liquidation dated October 18, 2021.

The Debtor is a Tennessee limited liability company that was formed
in May of 2008. Since its formation, the Debtor has operated as a
real estate development firm. Currently, the Debtor's single asset
of value is the real estate located at 2404, 2500, 2518, and 0 West
Heiman Street, Nashville, Tennessee 37208 (collectively, the "West
Heiman Properties").

The Debtor sought bankruptcy relief for the purpose of liquidating
its estate and paying in full all its creditors. Specifically, the
Debtor chose to proceed under Chapter 11 to avoid Chapter 7 trustee
fees, allow the Debtor to maintain the West Heiman Properties in a
marketable condition prior to a sale, and avoid an auction of the
West Heiman Properties or the appearance of a distressed sale. Such
a liquidation under Chapter 11 will allow the Debtor to maximize
the net proceeds upon a sale of the West Heiman Properties and
allow all creditors to be paid in full.

The Debtor then filed a Motion for Assumption of Purchase and Sale
Agreement and Order Approving Sale Free and Clear of Liens, Claims,
and Encumbrances Pursuant to 11 U.S.C. Sec. 363 (the "Sale
Motion"), which motion was granted at a hearing by the Court on
September 8, 2021. The Debtor now submits this Disclosure Statement
to its creditors and the Court for approval.

As of the Petition Date, the Debtor's sole asset of value consisted
of the West Heiman Properties.  The West Heiman Properties have a
current fair market value of $7,500,000; however, the Debtor notes
this figure is contingent upon approval of rezoning and closing of
a sale thereof as detailed in the Sale Motion.  Additionally, as of
the Petition Date, the Debtor had a nominal amount of cash in a
business checking account with Wilson Bank & Trust, totaling
$908.66.

The Plan will treat claims as follows:

     * Class 1 consists of the Secured Claim of McNabb. The Class 1
Claim shall be Allowed in the amount of $2,138,903.69 as of October
18, 2021. The Debtor intends to pay the Class 1 Claim in full upon
a sale of the West Heiman Properties in connection with a
liquidation of the Debtor's estate. Upon the receipt of such
proceeds from the sale of the West Heiman Properties to satisfy its
Allowed Secured Claim, McNabb shall then record and/or file all
documents necessary to release any interest in the West Heiman
Properties.

     * Class 2 consists of the General Unsecured Claims. The Class
2 Claims shall be Allowed in the amount of $534,728.77. The Debtor
intends to pay the Class 2 Claims in full upon a sale of the West
Heiman Properties in connection with a liquidation of the Debtor's
estate.

     * Class 3 consists of the ownership interests of the Debtor.
Under the Plan, the Debtor shall retain all ownership interest in
all property of the estate, subject to the terms of the Plan.

A full-text copy of the Disclosure Statement dated October 18,
2021, is available at https://bit.ly/3E86O6d from PacerMonitor.com
at no charge.

Counsel for the Debtor:

    Griffin S. Dunham
    Dunham Hildebrand, PLLC
    2416 21st Avenue South, Suite 303
    Nashville, TN 37212
    Phone: 615-933-5850
    E-mail: griffin@dhnashville.com

                    About FMBC Investments
  
Nashville, Tenn.-based FMBC Investments, LLC sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Tenn. Case No.
21-01880) on June 18, 2021. The Debtor's single asset of value is
the real estate located at 2404, 2500, 2518, and 0 West Heiman
Street, Nashville, Tennessee 37208 (collectively, the "West Heiman
Properties").

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

Judge Charles M. Walker oversees the case.  

Dunham Hildebrand, PLLC and the Law Firm of Baggott Law, PLLC serve
as the Debtor's bankruptcy counsel and special counsel,
respectively.


FR REFUEL: Moody's Assigns First Time 'B3' Corporate Family Rating
------------------------------------------------------------------
Moody's Investors Service assigned first time ratings to FR Refuel,
LLC ("Refuel"), including a B3 corporate family rating and B3-PD
probability of default rating. Moody's also assigned a B3 rating to
Refuel's proposed $75 million senior secured revolver, $265 million
senior secured term loan and $35 million senior secured delayed
draw term loan. The outlook is stable. Ratings are to the receipt
and review of final documentation.

Proceeds from the proposed $265 million senior secured term loan
will be used to repay approximately $200 million of outstanding
debt, partially finance the acquisition of two convenience store
operators and pay fees and expenses. The $35 million delayed draw
term loan and $75 million revolver will remain undrawn at close.

"Refuel's B3 corporate family rating reflects the company's small
scale, geographic concentration and relatively limited track record
of operating performance given its rapid acquisition driven growth"
stated Bill Fahy, Moody's Senior Credit Officer. Refuel's leverage
is high pro forma for its new capital structure with debt to EBITDA
of around 6.25 times for 2021 but is expected to improve to below
5.5 times over the next twelve to eighteen months as a full year of
recent acquisitions are fully realized. Refuel's credit profile
benefits from its good liquidity, the majority of its gross profit
mix being driven by merchandise sales and its relationship with
major fuel providers. The assigned ratings also include governance
considerations particularly that Refuel is owned by private equity
with a history of aggressive growth through acquisitions using both
cash and debt to fund its growth.

Assignments:

Issuer: FR Refuel, LLC

Corporate Family Rating, Assigned B3

Probability of Default Rating, Assigned B3-PD

Senior Secured 1st Lien Term Loan, Assigned B3 (LGD4)

Senior Secured 1st Lien Revolving Credit Facility, Assigned B3
(LGD4)

Senior Secured 1st Lien Delayed Draw Term Loan, Assigned B3
(LGD4)

Outlook Actions:

Issuer: FR Refuel, LLC

Outlook, Assigned Stable

RATINGS RATIONALE

Refuel's credit profile reflects its small scale with about 171
stores, geographic concentration in the southeast which accounts
for about 56% of locations and its aggressive growth strategy that
increased its number of stores from 31 at its inception in May 2019
to 171 in October 2021, the substantial majority of which was
driven by acquisitions. Refuel's credit profile benefits from its
good liquidity, the fact that the majority of its gross profit is
driven by merchandise sales rather than the more volatile fuel sale
volumes and its relationship with major fuel providers that adds
additional brand recognition.

The stable outlook reflects Moody's view that Refuel will maintain
good liquidity and that any acquisitions will be leverage neutral
on a pro forma basis.

Refuel's liquidity is good largely supported by its ample external
sources of liquidity provided by its 5 year $75 million revolving
credit facility and a $35 million delayed draw term loan. Moody's
expects Refuel to maintain cash balances of around $15 million and
generate positive free cash flow over the next twelve to 18 months,
absent any acquisitions. The company's revolving credit facility
and delayed draw term loan will be undrawn at close. The delayed
draw term loan can be used for general corporate purpose, including
acquisitions but must meet a pro forma consolidated first lien net
leverage ratio test after giving effect to the borrowing. Moody's
expects all free cash flow will be used to fund remodeling efforts,
build new stores and repay debt over and above required
amortization while maintaining cash balances of around $15 million.
The $75 million revolver will be subject to a springing
consolidated first lien net leverage ratio which is expected to be
set at a 35% cushion at close. The first lien leverage test will
only be tested when revolver borrowings exceed 40% of the totaly
outstanding. Moody's also expect the company to maintain a
reasonable cushion under the covenant post close in excess of 20%.
Refuel also owns approximately 75% of its locations which could be
used as an alternate source of liquidity in a distress scenario.

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

Factors that could lead to an upgrade include an increase in scale
and greater geographic diversity that will enable it to better
weather any economic challenges or competitive threats that could
be amplified within specific regions. A higher rating would also
require debt to EBITDA of below 5.5 times and EBIT coverage of
interest of over 1.5 times while maintaining at least good
liquidity.

Factors that could lead to a downgrade include an inability to
successfully integrate recent acquisitions that lead to an
inability to improve credit metrics from current levels or caused a
deterioration in liquidity. A downgrade could occur if debt to
EBITDA is sustained above 6.5 times or EBIT coverage of interest
migrated towards 1.0 time on a sustained basis.

As proposed, the new first lien revolver and term loans are
expected to provide covenant flexibility that if utilized could
negatively impact creditors. Notable terms include; 1) Incremental
debt capacity up to the greater of $50 million and 100% of EBITDA;
plus incremental amounts for 1st lien term facilities limited to
4.75x pro-forma first lien net leverage or the higher of 4.75 and
consolidated first lien net leverage in effect prior to the
incurrence, 2) There are no express "blocker" provisions that
prohibit the transfer of specified assets to unrestricted
subsidiaries; such transfers are permitted subject to carve-out
capacity and other conditions, 3) Only direct and indirect
wholly-owned subsidiaries must provide guarantees, raising the risk
of guarantee release following a partial change in ownership, 4)
there are no explicit protective provisions limiting such guarantee
releases. There are no express protective provisions prohibiting an
up-tiering transaction. These are proposed terms and the final
terms of the credit agreement may be materially different.

Based in South Carolina, FR Refuel, LLC, owns and operates
approximately 171 convenience stores in North and South Carolina,
Texas, Arkansas and Mississippi. Refuel is majority owned by the
private equity firm First Reserve. Annual revenues are around $900
million.

The principal methodology used in these ratings was Retail Industry
published in May 2018.


FRESH ACQUISITIONS: Creditors Committee Files Liquidating Plan
--------------------------------------------------------------
The Official Committee of Unsecured Creditors filed with the U.S.
Bankruptcy Court for the Northern District of Texas a Disclosure
Statement in Support of the Joint Chapter 11 Plan of Liquidation
for Fresh Acquisitions, LLC, and its Debtor Affiliates dated
October 18, 2021.

The Committee has filed this Plan to liquidate the Debtors'
remaining assets and to provide for an orderly payment of the
liquidation funds to Creditors.

From the Committee's perspective, as this Case unfolded, it became
apparent that it was designed to be a fait accompli to benefit the
Debtors' owners (also referred to as the Guarantors) with total
disregard for the creditors holding the $75 million in debt the
Guarantors had amassed and planned to discharge. A few months prior
to the Petition Date, the Guarantors had (a) installed one of the
companies they owned VitaNova Brands, LLC as the manager of the
Tahoe Joe's operations; (b) entered into a loan agreement with
VitaNova; and (c) orchestrated a sale to VitaNova for a purchase
price that produced no cash to the Debtors and effectuated a full
release of what the Committee believes are close to $20 million of
potential claims (referred to as the "Causes of Action") against
the Guarantors and other Insiders and Affiliates.

The Committee believes that this Plan is the best alternative and
the only real opportunity to realize any return. There is no
question that any recovery is based on litigation against the
Guarantors and the Debtors' Insiders, including VitaNova. The Plan
enables the same Committee professionals who were able to challenge
the Guarantors and Insiders during the case to proceed with the
task of recovering funds for distribution to creditors.

The Debtors have informed the Committee that they believe
conversion of the Case to a Chapter 7 and the appointment of a
panel trustee is in the best interest of Creditors. The Committee
strongly disagrees. Conversion is in many respects the equivalent
of rewarding the Guarantors and Insiders for mismanagement,
misconduct and bad faith. The Committee believes that the Plan will
allow the Liquidating Trustee to go forward with the same fervor
and momentum to maximize Creditor recovery.

On September 29, 2021, the Debtors received an offer from BBQ
Growth that was deemed a Qualified Bid. The auction proceeded as
scheduled with Serene and BBQ Growth as competing bidders. After
five rounds of bidding, BBQ Growth emerged with the highest and
best bid on the following terms: (a) $3,830,000 in cash; (b) a
royalty stream of .75 per cent per year for three years (a present
value of $382,000); (c) the assumption cure costs for the Tahoe
Joe's leases up to $1 million; and (d) the assumption of certain
trade payables and payroll up to $100,000. Subsequent to the
auction, BBQ Growth agreed to pay in cash at closing the present
value of the royalty stream (the "BBQ Growth Sale").

On October 7, 2021, the Court approved the BBQ Growth Sale and the
Sale closed on October 8, 2021. The purchase included all assets
related to the Tahoe Joe's operations, all of the Debtors'
intellectual property, and certain Causes of Action strictly
related to Tahoe Joe's vendors and employees, excluding any
Insiders or Affiliates. BBQ Growth assumed five of the six Tahoe
Joe's leases and paid all required cure costs. After the payment of
the break-up fee to Serene and $65,000 to ABT to satisfy its
claimed lien interest, the Debtors received $3,997,000 subject to
the VitaNova DIP lien estimated at about $2,796,000.

As of the date of this Disclosure Statement, the Debtors' assets
consist principally of cash believed to be approximately $2,020,000
that was derived from the operation and sale of the Tahoe Joe's
restaurants and the Causes of Action as defined in the Plan.

All Allowed Claims and Interests shall be classified and treated as
follows:

     * Class 1 consists of the Allowed Claims for wages, salaries,
or commissions earned within 180 days prior to the Petition Date or
the date that the respective Debtors' business closed, whichever
occurred first, and capped at $13,650 per Claimant pursuant to
Section 507(a)(4) of the Bankruptcy Code. Each Holder of an Allowed
Claim in this Class will be paid the foregoing capped amount in
full and in cash on the Effective Date. The Committee believes the
aggregate amount of claims in this Class is approximately $75,000.

     * Class 2 consists of the Allowed Claims of general unsecured
creditors, except those classified in Class 3. On the Effective
Date, in full and final satisfaction of any Claims against the
Debtors, the Holder of an Allowed Claim in this Class shall receive
a Pro-Rata beneficial interest in the Liquidating Trust and shall
be paid its Pro-Rata share of the Liquidating Trust Fund in
accordance with the Liquidating Trust Agreement and the Plan after
full payment of Allowed Administrative Claims, Allowed Priority Tax
Claims, and the Holders of Claims in Class 1. Class 2 is Impaired
and is entitled to vote on the Plan.

     * Class 3 consists of the Allowed Unsecured Claims of Insiders
and Affiliates of the Debtors. The Claims in this Class shall be
deemed disallowed pending the resolution of any Cause of Action or
Claim Objection filed against a Holder of a Claim in this Class. If
such Claim is Allowed, in full and final satisfaction of such
Claim, the Holder shall receive a beneficial interest in the
Liquidating Trust and shall be paid its Pro-Rata share of the
Liquidating Trust Fund in accordance with the Liquidating Trust
Agreement and the Final Order allowing such Claim, after full
payment of Allowed Administrative Claims and Priority Claims. Class
3 is Impaired.

     * Class 4 consists of the Equity Interests in each of the
Debtors. Such Interests shall be cancelled on the Effective Date.
Class 4 is Impaired, is not entitled to vote on the Plan, and is
deemed to have rejected the Plan.

On the Effective Date, a Liquidating Trust will be created pursuant
to the Liquidating Trust Agreement to liquidate all Liquidating
Trust Assets, to pursue all Causes of Action, and to make all
Distributions to Holders of Allowed Claims and Interests as
required by the Plan.

On the Effective Date, the Liquidating Trust Assets will be
transferred to the Liquidating Trust. The Plan will be funded by
the Cash on hand on the Effective Date and by the proceeds of the
Litigation Recovery.

A full-text copy of the Committee's Disclosure Statement dated
October 18, 2021, is available at https://bit.ly/3G8g4ZL from BMC
GROUP, INC., the claims agent.

Counsel for the Official Committee of Unsecured Creditors:

     Carolyn J. Johnsen
     William L. Novotny
     Arizona Bar No. 4239
     DICKINSON WRIGHT PLLC
     1850 North Central Avenue, Suite 1400
     Phoenix, Arizona 85004
     Telephone: (602) 285-5000
     Facsimile: (844) 670-6009
     E-mail: cjjohnsen@dickinsonwright.com
             wnovotny@dickinsonwright.com

                   About Fresh Acquisitions

Fresh Acquisitions LLC and Buffets, LLC, operate independent
restaurant brands and are based in San Antonio, Texas. Prior to the
COVID-19 pandemic, the Debtors were a significant operator of
buffet-style restaurants in the United States with approximately 90
stores operating in 27 states.  The Debtors' concepts include six
buffet restaurant chains and a full service steakhouse, operating
under the names Furr's Fresh Buffet, Old Country Buffet, Country
Buffet, HomeTown Buffet, Ryan's, Fire Mountain, and Tahoe Joe's
Famous Steakhouse, respectively.

Buffets Holdings, Inc., filed for Chapter 11 relief in January 2008
and won confirmation of a reorganization plan in April 2009. In
January 2012, Buffets again sought Chapter 11 protection and
emerged from bankruptcy in July 2012.

On Aug. 19, 2015, Alamo Ovation, LLC, acquired Buffets Restaurants
Holdings, Inc., and as a result of the merger, Buffets operated
over 300 restaurants in 35 states. Down to 150 restaurants in 25
states after closing unprofitable locations, Buffets LLC and its
affiliated entities sought Chapter 11 protection (Bankr. W.D. Tex.
Case No. Lead Case No. 16-50557) in San Antonio, Texas, on March 7,
2016. On April 27, 2017, the Court confirmed the Debtors' Second
Amended Joint Plan of Reorganization. The Effective Date of the
Plan was May 18, 2017.

Fresh Acquisitions, LLC and 14 affiliates, including Buffets LLC
(a/k/a Ovation Brands), sought Chapter 11 protection (Bankr. N.D.
Tex. Lead Case No. 21-30721) on April 20, 2021. Fresh Acquisitions
was estimated to have $1 million to $10 million in assets and $10
million to $50 million in liabilities. The Hon. Harlin Dewayne Hale
is the case judge.

In the recent cases, the Debtors tapped GRAY REED as counsel; and
B. RILEY ADVISORY SERVICES as financial advisor.  KATTEN MUCHIN
ROSENMAN LLP is special counsel.  BMC GROUP, INC., is the claims
and noticing agent.  HILCO REAL ESTATE, LLC, is the real estate
consultant.


FULLERTON PACIFIC: Continued Operations to Fund Plan Payments
-------------------------------------------------------------
Fullerton Pacific Interiors, Inc., filed with the U.S. Bankruptcy
Court for the Central District of California a Plan of
Reorganization for Small Business dated October 18, 2021.

Founded in 2013, Fullerton Pacific Interiors, Inc., is a California
S corporation.  The Debtor is a drywall contractor located in
Fullerton, California, and works on large residential and
commercial projects.

The Debtor is currently operating on a large apartment complex
being developed by Sinanian Development, which has timely paid all
invoices to the Debtor.  The Debtor believes that its current
project with Sinanian Development will last another 7 to 10 months.
The Debtor is currently bidding on several future projects.

The claims against the Debtor's bankruptcy estate total $7,394,702,
of which amount $2,924,070 is undisputed and $3,897,015 is
disputed.

This Plan has a 60-month term which ends on or about September 30,
2026. Over this term, the Debtor will have $639,742.81 in projected
disposable income. Under the Plan, the Debtor proposes to pay
$639,742.81 to creditors.

This Plan of Reorganization proposes to pay creditors of Fullerton
Pacific Interiors, Inc. from disposable operating income from
normal business operations.

The Plan will pay an 8.6% distribution on all claims
($7,394,701.74) and a 21.9% distribution on the undisputed claims
($2,924,070.01). Holders of non-priority unsecured claims will
receive distributions in a pro rata amount based upon the total
amount of such claims allowed against the Debtor's bankruptcy
estate. The Plan also provides for the payment of administrative
expense claims and priority claims in full.

The Plan will treat claims as follows:

     * Class 1 consists of Priority claims.  Class 1 is impaired by
this Plan, and each holder of an allowed Class 1 priority claim
will be paid from payments made under the Plan following payment of
administrative expense claims in full. Payments to holders of
allowed Class 1 priority claims are anticipated to begin in 4Q
2022.  Payments to each holder of an allowed Class 1 priority claim
will begin upon the later of payments to Class 1 becoming due under
this Plan, or the date on which such claim is allowed by a final
non-appealable order.

     * Class 3 Non-priority unsecured claims. Class 3 is impaired
by this Plan, and each holder of an allowed Class 3 claim will be
paid from payments made under the Plan following payment of
administrative expense claims and priority claims (Class 1) in
full. Payments to holders of allowed Class 3 claims are anticipated
to begin in Q4 2022. Payments to each holder of an allowed Class 3
Claim will begin upon the later of payments to Class 3 becoming due
under this Plan, or the date on which such claim is allowed by a
final non-appealable order.

     * Class 4 consists of Equity security interests of the Debtor.
Class 4 is unimpaired by this Plan, and each holder of a Class 4
Interest will be conclusively presumed to have voted to accept the
Plan. The holders of each Class 4 Interest will retain their rights
and interests without impairment and will not receive any payments
on account for their Class 4 Interests during the life of the Plan.


The Plan will be funded with the following: (i) cash on hand, (ii)
Debtor's protected disposable income over a period of 60 months,
and (iii) pursuit of other estate claims and causes of action, if
any.

A full-text copy of the Plan of Reorganization dated October 18,
2021, is available at https://bit.ly/3vARCLE from PacerMonitor.com
at no charge.  

General Counsel for the Debtor:

     Donald Reid, Esq.
     Law Office of Donald W. Reid
     PO Box 2227
     Fallbrook, CA 92088
     Tel.: 951-777-2460
     Email: don@donreidlaw.com

                      About Fullerton Pacific

California-based Fullerton Pacific Interiors, Inc. filed a petition
for Chapter 11 protection (Bankr. C.D. Calif. Case No. 21-11775) on
July 19, 2021, disclosing up to $1 million in assets and up to $10
million in liabilities.  Fullerton President Jacqueline Mordoki
signed the petition.  The Debtor tapped the Law Office of Donald W.
Reid as legal counsel.


GIGAMEDIA ACCESS: Top Execs Charged With $50 Mil. Fraud Scheme
--------------------------------------------------------------
Chris Dolmetsch of Bloomberg News reports that the top executives
of defunct cybersecurity company GigaMedia Access Corp. were
charged with duping investors out of more than $50 million by
faking financial statements and having one of them pose as a
customer.

Robert Bernardi, the founder and former chief executive officer of
GigaMedia, which also did business as GigaTrust, Nihat Cardak, the
company's former chief financial officer, and Sunil Chandra, its
former vice president for international business development, were
arrested on fraud charges Wednesday morning and scheduled to appear
in federal court in Virginia later in the day, prosecutors in New
York said.

                   About GigaMedia Access

GigaMedia Access Corp. is a cybersecurity company in Herndon,
Virginia. GigaMedia Access sought Chapter 7 protection (Bankr. D.
Del. Case No. 19- 12537) on Nov. 27, 2019.  The case is handled by
Honorable Karen B. Owens. Jeffrey M. Schlerf, of Fox Rothschild
LLP, is the Debtors' counsel.


GRAN TIERRA: S&P Upgrades ICR to 'B' Amid Higher Oil Prices
-----------------------------------------------------------
On Oct. 21, 2021, S&P Global Ratings raised its issuer-credit and
issue-level ratings on Canada-based oil and gas producer Gran
Tierra Energy Inc. (GTE) to 'B' from 'B-'.

The stable outlook reflects S&P's view that GTE will continue to
focus on increasing production to 30,000-32,000 boepd and continue
benefiting from rising crude oil prices that bolster EBITDA. This
will also support the company's deleveraging with debt to EBITDA
dropping to 2.0x-3.0x and reduce liquidity risks.

Crude oil prices jumped to $69.08 per barrel as of June 30, 2021,
from $33.39 in the same period of 2020. The rising prices, together
with GTE's average production (net of royalties) of 19,357 boepd,
allowed its EBITDA to soar to $119.2 million for the six-month
period of 2021 from $35.5 million for the same period in 2020. The
company's cash generation was sufficient to cover working capital
requirements, capital expenditures (capex), as well as the
repayment of approximately $30 million of the secured revolving
credit facility (RCF). GTE's debt to EBITDA, on an annualized
basis, was 3.7x as of June 30, 2021, sharply down from 9.8x in
2020.

GTE received a waiver on its covenants until Oct. 1, 2021, which
prevented the company from facing any payment acceleration on its
RCF and senior unsecured notes under its cross-default
restrictions. S&P said, "Therefore, our current base-case scenario
for the company doesn't assume payment acceleration risk on its
debt. Our updated crude oil price deck estimates $75.0 per bbl for
the remainder of 2021 and $65.0 per bbl in 2022." This, together
with the company's production of 30,579 boepd as of early October
2021, will allow EBITDA to continue strengthening towards
pre-pandemic levels, while maintaining debt to EBITDA below 3.5x
without breaching any covenant.

S&P said, "In our previous review, we also considered a potential
liquidity risk related to the reduction of its secured RCF to $225
million (from $300 million initially) of which the company had
drawn $204 million as of May 31, 2020. However, GTE reduced the
outstanding balance to $140 million as of Oct. 8, 2021. Our
base-case scenario assumes that GTE will continue to benefit from
production and price increases, reducing debt repayment risk on its
RCF due November 2022." However, as long as GTE continues repaying
its RCF, its liquidity position won't strengthen.



GRM ENERGY: Case Summary & 24 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: GRM Energy Investment Limited
        Quijano Chambers, P.O. Box 3159
        Road Town, Tortola, British Virgin Islands

Business Description: GRM Energy Investment Limited is part of the
                      Electric Power Generation, Transmission and
                      Distribution industry.  GRM is the parent of
                      Stoneway Capital and the limited partner of
                      Stoneway Group LP.

Chapter 11 Petition Date: October 21, 2021

Court: United States Bankruptcy Court
       Southern District of New York

Case No.: 21-11809

Debtor's Counsel: Fredric Sosnick, Esq.
                  SHEARMAN & STERLING LLP
                  599 Lexington Ave
                  New York, NY 10022
                  Tel: 214-848-8571
                  Email: fsosnick@shearman.com

Estimated Assets
(on a consolidated basis): $500 million to $1 billion

Estimated Liabilities
(on a consolidated basis): $1 billion to $10 billion

The petition was signed by David Mack as director.

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

https://www.pacermonitor.com/view/J347T4I/GRM_Energy_Investment_Limited__nysbke-21-11809__0001.0.pdf?mcid=tGE4TAMA

Consolidated List of Debtors' 24 Unsecured Creditors:





Entity                            Nature of Claim    Claim Amount
------                            ---------------    ------------
1. Siemens Energy Inc.            Litigation Claim     $22,523,011
4400 Alafaya Trail
Orlando, FL 32826-2399
Tel: 407-736-7075
Paula Gonzalez
Email: paulargonzalez@siemens.com

2. DF / Mompresa, S.A.U.          Litigation Claim      $4,480,653
Parque Cientifico Tecnologico
Ada Byron, 90
33203 Gijon, Asturias (Spain)
Tel: +34 985 1991 16
Ignacio Rodriguez
+34 38985179457

3. Siemens Energy AB              Litigation Claim      $1,735,208
Slottsvagen 2-6
612 83 Finspang, Sweden
Peter Hjelm
Email: peter.hjelm@siemens.com

4. Gramercy Energy Secured            Unsecured         $1,116,017
Holdings II LLC                      Note Claims
c/o Gramercy Funds Management LLC
20 Dayton Avenue
Greenwich, CT 06830
Tel: 203-552-1943
Attn: Tomas Serantes; Marc Zelina
Email: tserantes@gramercy.com;
mzelina@gramercy.com

5. Simpson Thacher &               Legal Services         $151,489
Bartlett LLP
425 Lexington Avenue
New York, NY 10017
Tel: 212-455-2664
Todd Crider
Email: tcrider@stblaw.com
Phone: +1-212-455-2664

6. Gemcorp Fund I Limited          Unsecured Note         $122,989
c/o Gemcorp Capital LLP                Claim
1 New Burlington Place
London, W1S 2HR
United Kingdom
Attn: General Counse/Operations
Email: generalcounsel@gemcorp.net;
ops@gemcorp.net

7. Gemcorp Multi Strategy Master   Unsecured Note          $47,489
Fund SICAV SCS Claim
c/o Gemcorp Capital LLP
1 New Burlington Place
London, W1S 2HR
United Kingdom
Attn: General Counsel/Operations
Email: generalcounsel@gemcorp.net;
ops@gemcorp.net

8. Araucaria Capital S.A.          Administrative          $45,790
Av. del Libertador 498,              Services
15th Floor
Buenos Aires, Argentina
Tel: 54-11-5252-0303
Attn: President or General Counsel
Email: info@araucariaenergy.com

9. Sargent & Lundy LLC              Engineering            $28,000
55 East Monroe Street                Services
Chicago, IL 60603
Tel: 312-269-9675
Terrence P. Coyne
Email: terrence.p.coyne@sargentlundy.com

10. SS&C Intralinks                Virtual Data            $27,310
685 Third Ave, 9th Floor           Room Hosting
New York, NY 10017                   Services
Tel: 212-342-7676
Susie Xiao
Email: sxiao@intralinks.com

11. Vista South America Inc.       Travel Agent            $25,000
12405 NE 6th Avenue                  Services
North Miami, FL 33161
Tel: 305-266-3029
Attn: Ariel Wainer

12. Maples and Calder BV          Legal Services           $21,308
Sea Meadow House
PO Box 173
Road Town VG1110
British Virgin Islands
Tel: 284-852-3000
Chloe Harris
Email: chloe.harris@maples.com

13. Aldebaran Group Ltd.             Financial             $19,719
12 Gough Square, 3rd Floor           Consultant
London, EC4A 3DW                     Services
United Kingdom
Tel: +44 7392 742245
Attn: Jacques Marie Blehaut

14. Epiq Corporate                   Consultant            $19,213
Restructuring LLC                     Services
777 Third Avenue, 12th Floor
New York, NY 10017
Tel: 312-560-6333
Attn: Brad Tuttle, Senior Managing Director
Email: btuttle@epiqglobal.com

15. Baker & McKenzie LLP           Legal Services          $16,618
452 Fifth Avenue
New York, New York 10018
Tel: 212-626-4100
Clyde Rankin, III
Email: clyde.rankin@bakermckenzie.com

16. WD Capital Markets Inc.           Financial            $11,419
Wildeboer Dellelce Place              Services
Suite 805
365 Bay Street
Toronto, Ontario M5H 2V1
Tel: 416-847-6907
Artur Agivaev
Email: artur@wdcapital.ca

17. Cratos Global                       Power              $11,411
3225 Shallowford Road, Suite           Project
810 Marietta, Georgia 30062           Consulting
Tel: 770-691-3120                      Services
Attn: President or General Counsel

18. Kekst and Company Inc.             Media and            $9,855
437 Madison Avenue, 37th Floor       Communication
New York, NY 10022                      Services
Tel: 212 521 4800
Daniel Yunger
Email: daniel.yunger@kekstcnc.com

19. Atahualpa USA LLC                Communication          $8,000
6820 Indian Creek Dr., Unit 2F          Services
Miami Beach, FL 33141
Attn: Carlos Bussolini, Director

20. CT Lien Solutions                    Federal            $7,535
c/o Wolters Kluwer                     Litigation
2700 Lake Cook Road                      Search
Riverwoods, IL 60015                    Services
Tel: 800-833-5778
Attn: President or General Counsel
Email: liensolutions.clientsupport@waltersk
luwer.com

21. Citrix Systems Inc.               Information           $1,707
851 W. Cypress Creek Road              Technology
Fort Lauderdale, FL 33309               Services
Tel: 800-424-8749
Attn: President or General Counsel

22. O'Farrell Inc.                   Legal Services         $1,340
167 Madison Avenue, Suite 303
New York, NY 10016
Tel: 305-468-4614
Attn: Michael Joseph
Email: info@ofarrelusa.com

23. Samuel Knight                      Consulting             $468
City Quadrant, Offices 13-15              Services
Waterloo Square
Newcastle Upon Tyne, NE1 4DP
United Kingdom
Tel: +44 (191) 481 3620
Attn: President or General Counsel
Email: energy@samuel-knight.com

24. Broadridge Financial Solutions                            $364
51 Mercedes Way
Edgewood, NY 11717
Tel: 631-254-7422
Attn: Joseph Naso
Email: joseph.naso@broadridge.com


HENRY FORD VILLAGE: Unsecureds to Recover 24% to 40% in Plan
------------------------------------------------------------
Henry Ford Village, Inc., filed with the U.S. Bankruptcy Court for
the Eastern District of Michigan a Combined Disclosure Statement
and Liquidating Chapter 11 Plan dated October 18, 2021.

HFV is a nonprofit, nonstock Michigan corporation established to
operate a senior continuing care retirement community located at
15101 Ford Road, Dearborn, Michigan 48126. Debtor provided senior
living services comprised of 853 independent living units, 96
assisted living units and 89 skilled nursing beds, of which 89 were
certified for Medicare and 27 of which were dually certified for
Medicare and Medicaid (the "Facility").

The principal financial problem HFV faced was associated with the
unfunded entrance fee refund liabilities that had accrued. With
respect to independent living and assisted living units,
prospective residents paid a 10% deposit to reserve their specific
independent unit, the total amount of which varied based on an
entrance fee associated with the unit to be occupied. In addition
to the unfunded entrance fee refund liabilities that had accrued,
there are a number of events which together led to the timing of
the filing of the Chapter 11 Case as the means to address HFV's
financial distress.

                  Sale Process and Purchase Price

On May 6, 2021, Debtor filed its notice of auction results (the
"Auction Results Notice") and proposed sale of assets to the
successful bidder HFV OPCO, LLC, an affiliate of Sage Healthcare
Partners, which provided a cash bid in the amount of $76,355,000
and other consideration associated with the treatment of Current
Resident contracts as set forth in the Auction Results Notice,
which contained a side-by-side analysis of the Stalking Horse
Bidder's Bid against the ultimate Purchaser's bid as set forth in
its asset purchase agreement.

The Sale Closing Date to the Purchaser (doing business as
"Allegria" and/or "Allegria Village") occurred on September 30,
2021. As part of the sale process, the potential purchasers were
required to provide information regarding their proposed treatment
of resident contracts as well as written answers to questions
regarding their intentions associated with the operation of the
Facility.

The Asset Purchase Agreement had provided that Purchaser was to
establish an independent, charitable, tax-exempt foundation under
Section 501(c)(3) of the Internal Revenue Code (a "Foundation") to
raise funds to continue the charitable mission of HFV by providing
free or reduced charge care to eligible residents in need who met
Purchaser's benevolence care guidelines and for Purchaser to
contribute not less than $100,000 annually to the Foundation.
However, after entering into the Asset Purchase Agreement, it was
determined that due to Internal Revenue Code limitations and
potentially other similar or related issues, the Purchaser would
not be able to establish and operate a Foundation for the
Commitment to Benevolence Care as set forth in the Asset Purchase
Agreement.

Consequently, on August 24, 2021, the Debtor filed a notice of
amendment to the Asset Purchase Agreement. The amendment eliminates
the obligation to establish the Foundation but provides an
alternative mechanism that is in keeping with the intent of the
particular provision, which was set forth in section 5.15 of the
Asset Purchase Agreement.

This is a liquidating Chapter 11 Plan. The Plan contemplates the
creation of a Liquidating Trust to liquidate any remaining assets
of the Debtor's Estate and to coordinate distribution of the cash
in the Estate and any other proceeds of the Liquidating Trust to
Holders of Allowed Claims. All of the Debtors assets constituting
the Liquidating Trust Assets will be transferred to a Liquidating
Trust to be administered by an independent Liquidating Trustee
under the oversight of the Liquidating Trust Oversight Committee.
The remaining assets of the Debtor consists of remaining cash from
the Sale after payment of certain obligations arising during the
Chapter 11 Case and Rights of Action, all of which are addressed in
the Plan.

Class 1 consists of the LARA Escrow Claims with $2,700,000
estimated amount of claims. After the Sale Closing Date, to the
extent not already distributed pursuant to directives of LARA,
Debtor or the Liquidating Trustee will disburse LARA Order Escrow
Funds in accordance with the LARA Order, LARA directives and the
LARA Escrow Agreement. LARA Escrow Claims are limited to recovery
from the LARA Order Escrow Funds. Each LARA Escrow Claimant that is
a Current Resident will also be entitled to enter into a Base Lease
accompanied with an Addendum. Class 1 LARA Escrow Claims are
Unimpaired. This Class will receive a distribution of 100% of their
allowed claims.

Class 2 consists of General Unsecured Claims with $51,300,000
estimated amount of claims. Each Holder of an Allowed General
Unsecured Claim, in exchange for such Allowed General Unsecured
Claim, shall receive a beneficial interest in the Liquidating Trust
entitling such Holder to receive on account of such Claims pro rata
Distributions from the Liquidating Trust Assets. The Holder of an
Allowed General Unsecured Claim may receive such other less
favorable treatment as may be agreed to in writing by the
Liquidating Trustee and the Claimant. This Class will receive a
distribution of 24%-40% of their allowed claims.

The Plan provides for all of the Debtor's assets that constitute
Liquidating Trust Assets to be conveyed to a Liquidating Trust to
be administered by a Liquidating Trustee.

A full-text copy of the Combined Plan and Disclosure Statement
dated October 18, 2021, is available at https://bit.ly/3nayXCA from
Kurtzman Carson Consultants, claims agent.

Counsel for Debtor:

     Sheryl L. Toby, Esq.
     Jong-Ju Chang, Esq.
     DYKEMA GOSSETT PLLC
     39577 Woodward Avenue, Suite 300
     Bloomfield Hills, MI 48304
     Tel: (248) 203-0700
     Fax: (248) 203-0763
     E-mail: SToby@dykema.com
             JChang@dykema.com

                     About Henry Ford Village

Henry Ford Village, Inc., is a non-profit, non-stock corporation
established to operate a continuing care retirement community
located at 15101 Ford Road, Dearborn, Mich. It provides senior
living services comprised of 853 independent living units, 96
assisted living units and 89 skilled nursing beds.

Henry Ford Village sought Chapter 11 protection (Bankr. E.D. Mich.
Case No. 20-51066) on Oct. 28, 2020.  In the petition signed by CRO
Chad Shandler, Henry Ford Village was estimated to have $50 million
to $100 million in assets and $100 million to $500 million in
liabilities.

The Hon. Mark A. Randon is the case judge.

The Debtor has tapped Dykema Gossett PLLC as its legal counsel, and
FTI Consulting, Inc., as its financial advisor. Kurzman Carson
Consultants, LLC, is the claims agent.


HERITAGE CHRISTIAN: May Use Cash Collateral Thru Dec 31
-------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Ohio
approved a sixth stipulation between Heritage Christian Schools of
Ohio, Inc. and Heritage Canton LLC that extends the terms of the
interim order authorizing the Debtor to use cash collateral through
December 31, 2021.

Except as otherwise provided in the Sixth Stipulation and Order,
the terms of the Interim Order will be valid and binding upon the
Debtor, all creditors of the Debtor and all other
parties-in-interest from and after the date of the Interim Order
and the Sixth Stipulation and Order.

The Court will consider the Debtor's further use of cash collateral
on December 28 at 2 p.m. Eastern Time.  

A copy of the stipulation and order, as well as the budget, is
available for free at https://bit.ly/3hbKJL4 from
PacerMonitor.com.

The budget filed with the Court provided for $170,000 in total
check and payments for October 2021 and $170,000 in total check and
payments for November 2021, and $173,411 in total check and
payments for December 2021.

             About Heritage Christian Schools of Ohio

Heritage Christian Schools of Ohio, Inc. --
https://heritagechristianschool.org/ -- is a tax-exempt private
Christian school located in Canton, Ohio.  Heritage Christian
Schools of Ohio filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ohio Case No.
21-60124) on Feb. 2, 2021.  In the petition signed by Sharla Elton,
superintendent, the Debtor disclosed $1,206,968 in assets and
$626,431 in liabilities.  Judge Russ Kendig presides over the
case.

The Debtor tapped Anthony J. DeGirolamo, Esq., as legal counsel and
Carolyn Valentine Co. Inc. as accountant and financial advisor.

Fredric P. Schwieg has been appointed as the Debtor's Subchapter V
Trustee.

Heritage Canton, LLC, as lender, is represented by Brennan, Manna &
Diamond as counsel.



HILCORP ENERGY: S&P Upgrades ICR to 'BB' on Price Deck Revision
---------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on private oil
and gas exploration and production company Hilcorp Energy I L.P. to
'BB' from 'BB-'. At the same time, it is raising its 'BB'
issue-level rating on the company's senior unsecured notes. The '3'
recovery rating is unchanged.

S&P Global Ratings recently raised its price assumptions for West
Texas Intermediate (WTI) oil for the remainder of 2021 and 2022,
and its Henry Hub natural gas price assumptions for the remainder
of 2021, 2022, and 2023, resulting in meaningful improvement in
credit measures and cash flows for private oil and gas exploration
and production company Hilcorp Energy.

S&P said, "The stable outlook reflects our view that funds from
operations (FFO)/debt will remain above 30% while debt to EBITDA
declines below 3.0x on a consolidated basis.

"Improved cash flows under our revised commodity price assumptions
result in stronger credit measures than we previously expected.

"We recently raised our price assumptions for WTI oil to $70 per
barrel (bbl) for the remainder of 2021 and $60/bbl in 2022 while
raising Henry Hub natural gas to $4.50 per million Btu (mmBtu) for
the remainder of 2021, $3.50/mmBtu in 2022, and $3.00/mmBtu in
2023. With oil accounting for over 58% of Hilcorp's expected
production, we expect the company's cash flows to improve
materially over the next 12-24 months, the majority which we
anticipate will be used towards debt paydown.

"We evaluate Hilcorp, including its restricted and unrestricted
groups, on a consolidated basis."

As Hilcorp consolidates financials, continues to operate both its
restricted and unrestricted groups under the Hilcorp name, and has
modest capacity to divert cash down to the unrestricted entity
(with an estimated restricted payments basket of approximately $1
billion, limited by a 2.5x leverage covenant at the restricted
group), as well as from the subsidiary up to the restricted group,
we analyze the group on a consolidated basis. The unrestricted
group is called HNS and consists of the majority of assets acquired
from BP. Additionally, it is where the seller financing resides,
including the BP Term Loan due in 2025 as well as the contingent
earnout. The restricted group is called HE1 and includes all legacy
assets as well as a portion of Milne point.

The company has strong deleveraging policies in place.

S&P said, "We expect the company to use all excess cash flows over
working capital toward deleveraging at HNS, first through the
contingent earnout and then through the term loan. In addition, the
company recently committed to a maximum of $100 million annually in
special dividends, which provides predictability of distributions
to its parent relative to historical years. Finally, acquisitions
at the HE1 level are limited to $150 million without the consent of
BP while the term loan remains outstanding. These policies,
combined with a 2.0x leverage target in a strong commodity
environment, should lead to debt reduction on a more permanent
basis.

"Our stable rating outlook on Hilcorp reflects our expectation that
financial metrics will improve over the next two years driven by a
recovery in oil and natural gas prices, with FFO to debt of around
30%, discretionary cash flow (DCF) to debt around 20%, and debt to
EBITDA in the 2.25x to 2.75x range.

"We could lower ratings if Hilcorp's FFO to debt declines well
below 30% on a sustained basis. This would most likely occur if
commodity prices fall substantially below current market prices, or
the company makes a larger-than-anticipated distribution to its
parent.

"We could raise the rating should the company make meaningful
progress towards paying down its consolidated debt, while
maintaining stated financial policies, such that FFO/debt were to
approach 45% for a sustained period. Additionally, we could raise
the rating should the company's scale and diversification increase
to match that of higher rated peers."



HOSPEDERIA VILLA: Wins Cash Collateral Access Thru Oct 31
---------------------------------------------------------
Judge Michael Caban Flores of the U.S. Bankruptcy Court for the
District of Puerto Rico approved the joint motion filed by
Hospederia Villa Verde Inc. and secured creditor Yajad 77, LLC,
which extends their Stipulation for the Interim Use of Cash
Collateral, Adequate Protection and Reservation of Rights.

As previously reported by the Troubled Company Reporter, the
parties filed a joint motion to extend their stipulation on the
Debtor's use of cash collateral until October 31, 2021, according
to the terms agreed upon by the parties.  The Debtor and YAJAD are
negotiating on the treatment of YAJAD's claim under the Debtor's
reorganization plan.

                   About Hospederia Villa Verde

Hospederia Villa Verde, Inc., owner and operator of the Villa Verde
Inn, sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. D.P.R. Case No. 21-01015) on March 31, 2021, listing
$500,001 to $1 million in both assets and liabilities.  

Harold A. Frye Maldonado, Esq., at Frye Maldonado Law Office,
serves as the Debtor's legal counsel.

YAJAD 77, LLC, as secured creditor, is represented by Hermann D.
Bauer, Esq. and Gabriel A. Miranda Rivera, Esq. at O'Neill and
Borges LLC.



INNERGEX RENEWABLE: S&P Withdraws 'BB+' Long-Term ICR
-----------------------------------------------------
S&P Global Ratings withdrew its 'BB+' long-term issuer credit
rating on Innergex Renewable Energy Inc., and its 'B+' global scale
and 'P-4 (High)' Canadian scale ratings on Innergex's preferred
shares at the issuer's request. The outlook was stable at the time
of withdrawal.



INTELSAT SA: CEO Spengler to Retire After Chapter 11 Exit
---------------------------------------------------------
Jeffrey Hill, Mark Holmes, and Rachel Jewett of Satellite Today
report that after almost seven years as CEO and more than 18 years
at Intelsat, CEO Steve Spengler plans to retire once the company
completes Chapter 11 financial restructuring and selects a
successor. Intelsat announced the change Thursday, October 21,
2021, morning, and said Spengler will lead the company until then.


The Intelsat news came as a surprise before the stock market opened
on Thursday, October 21, 2021. Its stock closed 36% up on
Thursday,October 21, 2021, and was up 81.82% after the
announcement.

                     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.




INTERPACE BIOSCIENCES: Signs $7.5M Credit Pact With Comerica Bank
-----------------------------------------------------------------
Interpace Biosciences, Inc. and its subsidiaries entered into a new
$7.5 million revolving credit facility with Comerica Bank.  

The facility matures on Sept. 30, 2023 and allows for advances
based on 80% of eligible accounts receivable plus an applicable
non-formula amount consisting of $2,000,000 of additional
availability at close, stepping down $250,000 per quarter beginning
with the quarter ending June 30, 2022.  The interest rate is equal
to prime plus .50%, prime being the greater of the bank's stated
prime rate or the sum of the daily adjusting LIBOR rate, plus 2.5%
per annum.  The bank will have a first priority security interest
in substantially all of Interpace's and its subsidiaries' assets
and will be senior to the existing $7.5 million bridge loans made
by the company's private equity investors.

Thomas Burnell, CEO of Interpace, commented: "We believe this new
credit facility demonstrates confidence in our business growth
strategy to deliver value to Interpace's stockholders and will give
us added flexibility to achieve our growth expectations to assist
healthcare providers in the diagnosis, triage and treatment of
patients.  We are very pleased to work with Comerica and believe we
are well positioned to continue to execute our strategic plans."  

A spokesperson for Comerica added: "We are thrilled to announce our
banking partnership with Interpace Biosciences.  Interpace provides
complex molecular analysis for the early diagnosis and treatment of
cancer and we are proud to help support this incredibly important
mission.  Thank you to the entire Interpace team and we look
forward to working together."

                          About Interpace

Headquartered in Parsippany, NJ, Interpace Biosciences f/k/a
Interpace Diagnostics Group, Inc. -- http://www.interpace.com--
offers specialized services along the therapeutic value chain from
early diagnosis and prognostic planning to targeted therapeutic
applications.  Clinical services, through Interpace Diagnostics,
provides clinically useful molecular diagnostic tests,
bioinformatics and pathology services for evaluating risk of cancer
by leveraging the latest technology in personalized medicine for
improved patient diagnosis and management.  Pharma services,
through Interpace Pharma Solutions, provides pharmacogenomics
testing, genotyping, biorepository and other customized services to
the pharmaceutical and biotech industries.

Interpace Biosciences reported a net loss of $26.45 million for the
year ended Dec. 31, 2020, compared to a net loss of $26.74 million
for the year ended Dec. 31, 2019.  As of March 31, 2021, the
Company had $43.86 million in total assets, $30.22 million in total
liabilities, and $46.54 million in preferred stock, and a total
stockholders' deficit of $32.9 million.

Woodbridge, New Jersey-based BDO USA, LLP, the Company's auditor
since 2012, issued a "going concern" qualification in its report
dated April 1, 2021, citing that the Company has suffered operating
losses, has negative operating cash flows and is dependent upon its
ability to generate profitable operations in the future or obtain
additional financing to meet its obligations and repay its
liabilities arising from normal business operations when they come
due. In addition, the Company has been materially impacted by the
outbreak of a novel coronavirus (COVID-19), which was declared a
global pandemic by the World Health Organization in March 2020.
These conditions raise substantial doubt about its ability to
continue as a going concern.


ISLA DEL CARIBE: Unsecureds Will Get 3% of Claims in 60 Months
--------------------------------------------------------------
Isla Del Caribe Development, Inc. filed with the U.S. Bankruptcy
Court for the District of Puerto Rico a Plan of Reorganization
under Subchapter V dated October 18, 2021.

The Debtor is a corporation duly organized under the laws of the
Commonwealth of Puerto Rico since December 10, 2007. It was created
by Ms. Carmelita Agosto Acosta, who was the sole shareholder of the
corporation.  The Debtor is dedicated to the development of real
estate and lease or sale of the same.

The Debtor filed its bankruptcy petition in order to protect the
Naguabo Property from the execution of the Judgment and be able to
continue operations and provide an orderly payment to all of its
creditors. After the filing of the bankruptcy petition the Debtor
filed a special appearance in the federal criminal proceedings
against Mr. Luis Santana Mendoza advising of the bankruptcy filing
and that the Naguabo Property subject to forfeiture was property of
Debtor's bankruptcy estate.

The Plan will treat claims as follows:

     * Class 2 consists of the allowed secured claim of Popular
Auto on account of the loan secured with the Toyota Tacoma SR5
property of the Debtor. The Debtor listed Popular Auto in the total
amount of $17,150.00. The Debtor has maintained regular payments to
Popular Auto and it will continue providing payment under the terms
and conditions of their pre-petition agreement. Payments are being
made in favor of the Debtor by Mr. Joe Santana Maldonado, Debtor's
President, who will continue assuming payments under the term of
the Plan.

     * Class 3 consists of the allowed secured claim of CRIM on
account of the Naguabo commercial property. Any and all allowed
under this class will be paid on or before 60 months from the date
of relief, including interest at the prevailing Prime Rate as of
the date of confirmation. The Debtor will pay CRIM's allowed amount
on or before the 60 month period from the proceeds of the sale of
any of the real estate property of the Debtor.

     * Class 4 consists of the allowed secured claim of Oriental
Bank. The Debtor has been making post petition monthly payments to
Oriental Bank in the amount of $3,000.00 to be applied to the
principal amount of the debt. The Debtor will continue to make
payments in the amount of $3,000.00 for a period of 60 months from
the date of the relief. Oriental Bank's allowed claim will accrue
interest at a rate of 4.25% during this 60 month period.

     * Class 5 consists of all general unsecured claims. The Debtor
listed unsecured creditors for in the total amount of $127.11. The
State Insurance Fund filed Claim No. 3 in the amount of $117.30.
This class also includes the unsecured portion of CRIM's Claim No.
1 in the amount of $146,553.12 and the Department of Treasury's
unsecured portion of Claim No. 4 in the amount of $9,522.33.
Creditors under this class will be paid 3% of their allowed claim
on or before 60 months from the date of relief, in consecutive
monthly payments. This class is impaired.

     * Class 6 includes all equity and interest holders who are the
owners of the stock of the Debtor. Creditors under this class will
not receive payment and are not entitled to vote. This class is not
impaired.

The proposed plan will be funded with Debtor's cash in bank, sale
of real estate, any proceeds obtained from the claim to be filed
against Sistema Universitario Ana G. Mendez and the funds from
Debtor's post petition operations including the rents received from
the Naguabo Property.

A full-text copy of the Plan of Reorganization dated October 18,
2021, is available at https://bit.ly/3prTPbh from PacerMonitor.com
at no charge.

Attorney for Debtor:

     C.CONDE & ASSOC.
     Carmen D. Conde Torres, Esq.
     Luisa S. Valle Castro, Esq.
     San Jose Street #254, 5th Floor
     Tel: (787)729-2900
     Fax: (787)729-2203
     Email: condecarmen@condelaw.com

            About Isla del Caribe Development

Naguabo, P.R.-based Isla del Caribe Development, Inc. sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. D. P.R.
Case No. 21-02191) on July 19, 2021. Joe Santana Maldonado,
president, signed the petition. At the time of the filing, the
Debtor disclosed total assets of $1,335,000 and total liabilities
of $660,493. Judge Enrique S. Lamoutte Inclan oversees the case.
The Debtor tapped C. Conde & Assoc. as legal counsel and Jose A.
Diaz Crespo, CPA, at Dage Consulting CPA's, PSC as accountant.


JOHN PICCIRILLI: Unsecureds Will Get 5% of Claims in 60 Months
--------------------------------------------------------------
John Piccirilli, Inc. filed with the U.S. Bankruptcy Court for the
Northern District of New York a Second Amended Small Business Plan
of Reorganization dated October 18, 2021.

This Second Amended Plan of Reorganization under Subsection V of
Chapter 11 of the Code proposes to pay creditors of the Debtor from
Debtor's cash flow from operations and future income.

Significant changes from Debtor's previous proposed Plans include
the following:

     * The collateral securing Chrysler's Proof of Claim #3 will be
surrendered rather than being paid the value of the collateral
through the Plan.

     * Proof of Claim #13 from M&T Bank (the SBA Loan) is being
paid over 7 years rather than 5 years, by agreement with M&T Bank
and the SBA.

     * Proof of Claim #16 from M&T Bank is being paid a secured
amount of $14,479.69 rather than $0.00 as the result of an
appraisal of the value of Debtor's assets and by agreement with M&T
Bank.

     * Proof of Claims #8 and #9 are being paid the full amount of
the Proofs of Claim rather than as cram downs in the Plan pursuant
to a valuation done provided by Kubota and agreed upon by the
Debtor.

     * The Projections attached to the Plan have been updated to
reflect the actual income and expenses through September, 2021 and
the reduction in weekly draw by the principle from $2000.00 per
week to $1800.00 per week.

Creditors in Class 7 will receive distributions which the proponent
of this Plan has valued at approximately 5 cents on the dollar.
This Plan also provides for payment of Administrative Expense and
Priority Claims. Said Claims will be paid in full on or within 90
days of the Effective date of this Plan, subject to approval of the
Court.

Class 9 consists of General Unsecured Claims. All Class 9 Claims
shall be paid as wholly unsecured claims. Debtor will pay an amount
equal to approximately 5% of all allowed Class 9 claims. Payment of
Class 9 claims will begin on the first month after the Effective
Date and continue thereafter for 60 months or until paid 5% of
their Claims.

Unsecured creditors, except those with total Plan payouts of $275
or less will receive a pro rata portion of the monthly payment
which will be $430.00. Allowed unsecured claims where Plan payout
of 5% equals $275 or less will be paid in full within 30 days after
the Effective Date. There will be a total payout of approximately
$27,103.00 to unsecured creditors.

Class 10 consists of Equity Security Holder John Piccirilli. Equity
Interest holders shall receive 100% of the shareholder interests in
the reorganized Debtor.

The Plan will be implemented by the Debtor remitting payment to
creditors from the Debtor's cash flow derived from income from
plumbing, heating and air conditioning clients.

A full-text copy of the Second Amended Plan of Reorganization dated
October 18, 2021, is available at https://bit.ly/3vAL9Ap from
PacerMonitor.com at no charge.

Attorneys for Debtor:

     Peter A. Orville, Esq.
     Bar Roll No.: 102311
     Orville & McDonald Law, PC
     30 Riverside Drive
     Binghamton, NY 13905
     607-770-1007

               About John Piccirilli

John Piccirilli, Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D.N.Y. Case No. 21-60057) on Jan. 28,
2021.  At the time of the filing, the Debtor had estimated assets
of between $100,001 and $500,000 and liabilities of between
$500,001 and $1 million.  Judge Diane Davis oversees the Debtor's
Chapter 11 case.  The Debtor is represented by Orville & McDonald
Law, P.C. in its case.


JOHNSON & JOHNSON: LTL Bankruptcy Brings Angry Lawyers to Charlotte
-------------------------------------------------------------------
Steven Church and Nick Baker, writing for Bloomberg News, report
that the bankruptcy of Johnson & Johnson's baby powder unit, LTL
Management, brings angry 50 lawyers to Charlotte.

For dozens of lawyers representing people who say Johnson &
Johnson’s baby powder made them sick, the federal courthouse in
Charlotte, North Carolina, was the last place they wanted to be.

The consumer products giant gave them no choice by putting a sliver
of its sprawling company into bankruptcy protection there, using a
controversial legal tactic known as the Texas Two-Step as a shield
from victims’ claims amounting to more than $2 billion.

Lawyers for those who allegedly got ill from asbestos and other
substances in J&J's talc baby powder argue bankruptcy court is the
wrong place.

                    About Johnson & Johnson

Johnson & Johnson (J&J) is an American multinational corporation
founded in 1886 that develops medical devices, pharmaceuticals, and
consumer packaged goods. J&J is the world's largest and most
broadly based healthcare company.

Johnson & Johnson is headquartered in New Brunswick, New Jersey,
the consumer division being located in Skillman, New Jersey. The
corporation includes some 250 subsidiary companies with operations
in 60 countries and products sold in over 175 countries.

Johnson & Johnson had worldwide sales of $82.6 billion during
calendar year 2020.

                      About LTL Management

LTL Management LLC is a newly formed subsidiary of Johnson &
Johnson. LTL was formed to manage and defend thousands of
talc-related claims and to oversee the operations of its
subsidiary, Royalty A&M. Royalty A&M owns a portfolio of royalty
revenue streams, including royalty revenue streams based on
third-party sales of LACTAID, MYLANTA /MYLICON and ROGAINE
products.

LTL Management LLC filed a Chapter 11 petition (Bankr. W.D.N.C.
Case No. 21-30589) on Oct. 14, 2021.  The Hon. J. Craig Whitley is
the case judge.

The Debtor tapped JONES DAY as counsel, RAYBURN COOPER & DURHAM,
P.A., as co-counsel; BATES WHITE, LLC, as financial consultant; and
ALIXPARTNERS, LLP, as restructuring advisor. KING & SPALDING LLP
and SHOOK, HARDY & BACON L.L.P., serve as special counsel, and
McCARTER & ENGLISH, LLP is the litigation consultant.  EPIQ
CORPORATE RESTRUCTURING, LLC, is the claims agent.

The Debtor was estimated to have $1 billion to $10 billion in
assets and liabilities as of the bankruptcy filing.               



JUSTIN MILLER: Seeks to Hire Anthony J. DeGirolamo as Legal Counsel
-------------------------------------------------------------------
Justin Miller LLC seeks approval from the U.S. Bankruptcy Court for
the Northern District of Ohio to hire Anthony J. DeGirolamo,
Attorney at Law to serve as legal counsel in its Chapter 11 case.

The firm's services include:

     (a) assisting the Debtor in fulfilling its duties under the
Bankruptcy Code;

     (b) representing the Debtor with respect to motions filed in
its Chapter 11 case, including, without limitation, motions for use
of cash collateral or for debtor-in-possession financing, motions
to assume or reject unexpired leases and executory contracts,
motions for relief from stay, and motions for the sale or use of
estate property; and

     (c) other necessary legal services.

The firm's hourly rates are as follows:

     Anthony J. DeGirolamo, Esq.   $360 per hour
     Paralegals                    $200 per hour

DeGirolamo holds a $10,372 retainer.

As disclosed in court filings, DeGirolamo is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.

The firm can be reached through:

     Anthony J. DeGirolamo, Esq.
     Anthony J. DeGirolamo, Attorney at Law
     3930 Fulton Drive NW, Suite 100b
     Canton, OH 44718
     Phone: +1 330-305-9700
     Email: tony@ajdlaw7-11.com

                     About  Justin Miller LLC

Justin Miller, LLC, a Sugarcreek, Ohio-based company specializing
in transporting nonperishable commodities, filed its voluntary
petition for Chapter 11 protection (Bankr. N.D. Ohio Case No.
21-613500) on Oct. 19, 2021, listing up to $1 million in assets and
up to $10 million in liabilities.  Justin L. Miller, member, signed
the petition.  Judge Russ Kendig oversees the case.  Anthony J.
DeGirolamo, Attorney at Law represents the Debtor as legal counsel.


JW ALUMINUM: Moody's Affirms B3 CFR, Outlook Remains Stable
-----------------------------------------------------------
Moody's Investors Service affirmed JW Aluminum Continuous Cast
Company's B3 Corporate Family Rating, B3-PD Probability of Default
Rating and B3 rating of the senior secured notes. Outlook remains
stable.

Affirmations:

Issuer: JW Aluminum Continuous Cast Company

Corporate Family Rating, Affirmed B3

Probability of Default Rating, Affirmed B3-PD

Senior Secured Regular Bond/Debenture, Affirmed B3 (LGD4)

Outlook Actions:

Issuer: JW Aluminum Continuous Cast Company

Outlook, Remains Stable

RATINGS RATIONALE

JW Aluminum's credit rating reflects its small scale, elevated
leverage, and weak debt protection metrics. The credit profile is
also constrained by the company's limited production capacity and
operational concentration given the limited number of operating
sites, particularly after the recent closure of the St. Louis and
Williamsport facilities, and its exposure to a single commodity
business in the cyclical aluminum sector. The company faces
cyclical risks typical for an aluminum fabricator dependent largely
on the Building & Construction and HVAC end-markets, and to lesser
extent on transportation and several other sectors. The company
holds a strong market position for most of its flat rolled aluminum
products and has a moderate end market diversity servicing a large
number of customers with whom it has established long-term
relationships.

JW Aluminum's credit metrics are expected to remain somewhat weak
in 2021 as a result of the continued effects of the fires
coinciding with the loss of sales from the closed and divested
Williamsport and St. Louis facilities. However, Moody's expects the
company's operating and financial performance and liquidity to
improve materially in 2022 after full repairs of the Mount Holly
facility are completed in Q4 2021, allowing the plant to run at the
design capacity of 280mlb per year. The company is also expected to
continue benefitting from the multitude of CVD and AD on imported
aluminum products that have been imposed by the USITC since 2018,
strong demand and pricing environment and wider utilization of
aluminum scrap at Mount Holly that will enhance operating margins.

Moody's estimates that leverage, measured as Moody's-adjusted
debt/EBITDA, will be in the low 5x in 2021 but will decline to
about 4x by the end of 2022 driven by the anticipated EBITDA
growth, FCF generation and the repayment of the ABL facility
borrowings. Interest coverage, measured as the adjusted
EBIT/Interest ratio, is forecast to remain above 1.0x. Moody's
expects modestly negative FCF in 2021 but forecasts meaningfully
positive FCF in 2022 assuming a full-year contribution from the
expanded Mount Holly facility and the continued strength in the
demand and pricing. JW Aluminum is expected to maintain an adequate
liquidity profile through the next 12 months. As of July 3, 2021,
the company had $13 million in cash and cash equivalents and $38
million drawn on its $100 million ABL facility with the total
borrowing base of $50.6 million. Moody's expect the company to rely
on the ABL facility along with cash on hand and cash flow from
operations to fund operations in the near-term.

The B3 rating on the senior secured notes reflects their
preponderance of debt in the capital structure. The notes are
guaranteed by the company's wholly owned domestic subsidiaries and
are primarily secured by a first-priority lien on the company's
fixed assets. The notes have a second lien on the assets securing
the ABL. In 2020 and 2021, the company entered into several
amendments of the credit facility. The latest amendment (June
2021), amongst other changes, extended the relief on the fixed
charge coverage ratio compliance, subjecting the company only to
minimum availability financial covenant, until financial statements
are delivered for the fiscal month ending on or closest to
September 30, 2021. Moody's believes the company will be modestly
compliant with the fixed-charge coverage ratio covenant under the
ABL facility of minimum of 1.0x in the next 12 to 18 months, albeit
there is a risk of a covenant breach unless another covenant relief
is secured.

The stable ratings outlook assumes conditions in the end markets
the company serves will continue to support its operations and the
credit profile will evidence a meaningful improvement after full
repairs and the ramp-up of the Mount Holly plant are completed in
Q4 2021. The outlook also anticipates that no other significant
issues related to the completion and ramp-up of the new Mount Holly
facility will arise.

JW Aluminum like other aluminum producers faces a number of ESG
risks, including being in compliant with environmental regulations
as well as managing labor relations. The governance risk is
considered above-average given the company's private equity
ownership and its high tolerance for elevated levels of leverage.
Growing use of recycled scrap with lower reliance on prime aluminum
units at Mount Holly facility is viewed as a positive credit
consideration.

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

JW Aluminum's small scale and strategic investment program limits
the upside potential in its rating. However, successful execution
of Phase I of ramp, the resultant expansion in production capacity
and unit cost reduction would be positive for the rating.
Maintaining a leverage ratio below 4.5x, an interest coverage ratio
above 2x and being free cash flow generative could create positive
momentum in JW Aluminum's rating.

Negative rating pressure could develop if the company experiences
any new significant issues related to its ramp-up of the expanded
facility. Any material disruptions that result in weaker than
expected operating performance, or higher than anticipated negative
free cash generation that leads to heavy reliance on the ABL
facility and reduction in its ability to meet compliance covenants
under its credit agreement could result in a downgrade. The
leverage ratio being sustained above 5.5x or the interest coverage
ratio persisting below 1.0x could lead to a downgrade.

Headquartered in South Carolina, JW Aluminum produces rolled
aluminum products that serve the Building and Construction (B&C),
HVAC, transportation, and other end markets. The company operates
two manufacturing facilities located in Mt. Holly, South Carolina
and Russellville, Arkansas, and is privately owned by affiliates of
FS/KKR Advisor, LLC, Goldman Sachs & Co. LLC, Magnetar Capital,
Pentwater Capital Management and other. The company generated
approximately $374 million in net sales in the twelve months ended
July 3, 2021.

The principal methodology used in these ratings was Steel Industry
published in September 2017.



KATERRA INC: Gets Court Approval for Plan in Difficult Case
-----------------------------------------------------------
Jeremy Hill of Bloomberg News reports that SoftBank-backed Katerra
Inc. won court approval of its bankruptcy plan, which may hand
low-ranking creditors just pennies on the dollar for their claims.

U.S. Bankruptcy Judge David R. Jones approved the plan in an
uncontested hearing Thursday, October 21, 2021. "This was a
difficult case and the outcome is one which you look at and you're
not overly happy about," Judge Jones said in the hearing, pointing
out that the business will cease to exist and many people have lost
jobs.  Still, he thanked the lawyers and advisers for their work on
the case, saying "as professionals, you did your roles quite
well."

                       About Katerra Inc.

Based in Menlo Park, Calif., Katerra Inc. is a Japanese-funded,
American technology-driven offsite construction company. Katerra
was founded in 2015 by Michael Marks, former chief executive
officer of Flextronics and former Tesla interim CEO, along with
Fritz Wolff, the executive chairman of The Wolff Co. It offers
technology-driven design, manufacturing, and assembly solution for
bathroom pods, door and window, furniture, and modular utility
systems.

Katerra and its affiliates sought Chapter 11 protection (Bankr.
S.D. Tex. Lead Case No. 21-31861) on June 6, 2021. In its petition,
Katerra disclosed assets of between $500 million and $1 billion and
liabilities of between $1 billion and $10 billion.

Judge David R. Jones oversees the cases.

The Debtors tapped Kirkland & Ellis, LLP and Jackson Walker, LLP as
bankruptcy counsel; Houlihan Lokey Capital, Inc. as investment
banker; Alvarez & Marsal North America, LLC as financial and
restructuring advisor; and KPMG, LLP as a tax consultant. Prime
Clerk LLC is the claims and noticing agent.

The official committee of unsecured creditors tapped Fox
Rothschild, LLP, as counsel; and FTI Consulting, Inc., as financial
advisor.

Weil, Gotshal & Manges LLP is counsel for SB Investment Advisers
(UK) Limited, DIP lender.

                            *    *    *

Katerra in early August 2021 won court approval to sell factories
in Washington State and California for a total of $71 million. Blue
Varsity LLC, a wholly-owned subsidiary of Mercer International
Inc., purchased Katerra's cross-laminated timber factory in
Spokane, Wash. Volumetric Building Companies, a Philadelphia-based
construction company, agreed to buy Katerra's two-year-old factory
in Tracy, Calif.



KOSMOS ENERGY: Plans to Offer $400 Million Senior Notes Due 2027
----------------------------------------------------------------
Kosmos Energy Ltd. intends to offer $400 million aggregate
principal amount of senior notes due 2027, subject to market
conditions.  

Kosmos intends to use the net proceeds from the offering, together
with cash on hand, to refinance the $400 million aggregate
principal amount of private placement notes the company issued to
fund its acquisition of Anadarko WCTP Company.

The securities to be offered will not be registered under the
Securities Act of 1933, as amended, or any state securities laws
and unless so registered, the securities may not be offered or sold
in the United States without registration or an applicable
exemption from the registration requirements of the Securities Act
and applicable state securities or blue sky laws and foreign
securities laws.  The senior notes and the related guarantees will
be offered only to persons reasonably believed to be qualified
institutional buyers in reliance on the exemption from registration
set forth in Rule 144A under the Securities Act and, outside the
United States, to non-U.S. persons in reliance on the exemption
from registration set forth in Regulation S under the Securities
Act.

                        About Kosmos Energy

Kosmos is a full-cycle deepwater independent oil and gas
exploration and production company focused along the Atlantic
Margins.  The Company's key assets include production offshore
Ghana, Equatorial Guinea and the U.S. Gulf of Mexico, as well as a
world-class gas development offshore Mauritania and Senegal.  The
Company also maintains a sustainable proven basin exploration
program in Equatorial Guinea, Ghana and the U.S. Gulf of Mexico.
Kosmos is listed on the NYSE and LSE and is traded under the ticker
symbol KOS.

Kosmos Energy reported a net loss of $411.58 million in 2020, a net
loss of $55.78 million in 2019, a net loss of $93.99 million in
2018, and a net loss of $222.79 million in 2017.  As of June 30,
2021, the Company had $4 billion in total assets, $645.29 million
in total current liabilities, $3.05 billion in total long-term
liabilities, and $307.24 million in total stockholders' equity.


KTR GLOBAL: Unsecured Creditors to Get Up 100% in Plan
------------------------------------------------------
KTR Global Partners, LLC, submitted a Third Amendment to its
Subchapter V Plan of Reorganization.

Based on the projections, the Debtor is capable of generating
sufficient excess income per month over a 5 year period to pay all
class 1, 2 and 3 priority claims in full in approximately 3 years,
Class 4 within a year thereafter, with the balance of payments to
be made before the five year Subchapter V period ends to provide a
full or substantial dividend to unsecured creditors in Class 6.

The Class 6 general unsecured claims will be paid on a pro rata
basis from funds paid by the Debtor to the Trustee and placed in
the Allowed Claims Distribution Fund.  The Debtor will be obligated
to continue payments of Excess Income into the Fund until the
earlier of the end of the fifth year from the date of the first
payment made into the Fund or until all Class 5 claims have been
paid in full.  Trustee shall disburse funds to this Class quarterly
and in the same fashion as to Classes 1, 2, 3, and 4 and only after
all such claims are paid in full.

The Debtor shall continue to operate in the ordinary course. From
Excess Income, the Debtor shall fund and establish the
Normalization Fund. Thereafter, all Excess Income shall go to the
Allowed Claims Distribution Fund in the custody of the Trustee.  In
turn the Trustee as Distribution Agent will pay the Holders of
Allowed Claims as further set forth in this Plan and subject to
Sec. 1194(b).

"Allowed Claims Distribution Fund" means the segregated fund
established and funded by the Debtor, and held and administered by
case Trustee, Lynton Kotzin to accumulate Excess Income from which
Distributions will be made on the Distribution Dates to the Holders
of Allowed Claims, as further set forth in this plan, until the
Holders of such Claims have been paid in full. When all Holders of
Allowed Claims have been paid in full, the balance in the Allowed
Claims Distribution Fund will be repaid to the Debtor and Debtor
will be relieved from any further obligation to provide funding to
the Fund.  This Fund shall be established only after establishment
or maintenance of a Normalization Fund in the amount of $75,000.

"Excess Income" means the amount of revenue remaining to the Debtor
after payment of ordinary business expenses on a monthly basis,
after establishment of a es

"Normalization Fund" means a fund created by the Debtor from Excess
Income in an amount up to $75,000 to be held and used to normalize
any ongoing budget shortfalls.  Any time that funds from the
Normalization Fund are used, Debtor at its sole discretion may
replenish this fund prior to providing further funding to the
Allowed Claims Distribution Fund.

The Court set a continued status hearing on confirmation of the
Plan for Oct. 20, 2021 at 10:30 am.

Objections to the allowance of any Claim may be filed by any party
in interest no later than 45 days after the Effective Date or on
such later date as may be set by order of the Bankruptcy Court
after notice and a hearing.

Attorneys for the Debtor:

     Fennemore Craig, P.C.
     Gerald L. Shelley
     2394 East Camelback Rd., Suite 600
     Phoenix, AZ 85016-3429
     Telephone: (602) 916-5000
     Email: gshelley@fclaw.com

A copy of the Disclosure Statement dated October 13, 2021, is
available at https://bit.ly/3DFMWXO from PacerMonitor.com.

                  About KTR Global Partners

KTR Global Partners, LLC owns and operates an indoor action sports
playground serving kids of all ages and abilities.

KTR Global Partners sought Chapter 11 protection (Bankr. Ariz. Case
No. 20-08282) on July 16, 2020.  At the time of the filing, the
Debtor disclosed total assets of $1,294,450 and total liabilities
of $1,533,572.  Judge Brenda K. Martin oversees the case.

Fennemore Craig, P.C., is the Debtor's legal counsel.


KUMTOR GOLD: Defeats Kyrgyz Opposition to $10 Mil. Bankruptcy Loan
------------------------------------------------------------------
Alex Wolf of Bloomberg Law reports that bankrupt gold miner Kumtor
Gold Co. won court approval to borrow up to $10 million after
defeating the Kyrgyz Republic's objection to the loan request.

Kumtor Gold, a subsidiary of Toronto-based Centerra Gold Inc.,
filed for bankruptcy in June 2021 after the Central Asian country
seized control of the company’s mine following passage of a law
that enhanced state power.

The Kyrgyz Republic, which is challenging Kumtor's right to
protection in U.S. bankruptcy court, said the court shouldn't allow
the loan until the country’s motion to dismiss the case is heard
early next 2022.

                    About Kumtor Gold Inc.

Centerra Gold Inc. is a Canadian mining company that owns and
operates the Kumtor Gold Mine in the Kyrgyz Republic.

Centerra placed subsidiaries, Kumtor Gold Co and Kumtor Operating
Co., into Chapter 11 bankruptcy in the U.S. following
nationalization of the miner's Kumtor gold mine by the Kyrgyz
Republic, a former Soviet republic.

Kumtor Gold Company CSJC and Kumtor Operating Company CSJC sought
Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case Nos.
21-11051 to 21-11052) on May 31, 2021. Kumtor Gold was estimated to
have $1 billion to $10 billion in assets and $100 million to $500
million in liabilities as of the bankruptcy filing. The Hon. Lisa
G. Beckerman is the case judge. SULLIVAN & CROMWELL LLP, led by
James L. Bromley, is the Debtor's counsel. STIKEMAN ELLIOT LLP is
the co-counsel.


LAKE CECILE: Existing Interests to Be Cancelled in Plan
--------------------------------------------------------
Lake Cecile Resort Inc. submitted an amendment to its First Amended
Plan of Reorganization to provide that:

   * Class 8 — Allowed Interests. This class is impaired.  The
Debtor's sole shareholder is Mary Nguyen.  The interests of holders
of equity securities in Debtor will be cancelled and the holders
will not receive any property on account of such interests.

   * The Debtor will close the transaction under the Funding
Agreement which states that an investor shall make a capital
contribution to the Debtor, to be used to fund obligations under
the plan, in an amount equal to $5,000.  The proceeds of the
Funding Agreement will be applied to make payments under the Plan.

As reported in the TCR, the Debtor has $17.1 million in secured
claims and $396,000 in unsecured claims, which unsecured amount the
Debtor expects to increase by a material amount on account of
deficiency claims and the $1,000,000 claim by Best Meridian
Insurance Company.  The holders of allowed unsecured claims shall
receive a pro rata share
of unsecured notes payable in 60 equal monthly installments.  The
aggregate principal amount of unsecured notes will be the lesser
of
the allowed unsecured claim, and $50,000.

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

Attorneys for the Debtor:

     David R. McFarlin
     Fisher Rushmer, P.A.
     390 N. Orange Ave., suite 2200
     Post Office Box 3753
     Orlando, FL 32802-3753
     Telephone (407) 843-2111
     Facsimile (407) 422-1080
     E-mail: dmcfarlin@fisherlawfirm.com

A copy of the Disclosure Statement dated October 13, 2021, is
available at https://bit.ly/3aFtGNS from PacerMonitor.com.

A copy of the Funding Agreement dated October 13, 2021, is
available at https://bit.ly/30ytX3h from PacerMonitor.com.

                    About Lake Cecile Resort

Lake Cecile Resort Inc. is an Orlando, Fla.-based company primarily
engaged in renting and leasing real estate properties.

Lake Cecile Resort sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 21-01060) on March 12,
2021.  In the petition signed by Mary T. Nguyen, president, the
Debtor disclosed between $10 million and $50 million in both assets
and liabilities.

Judge Karen S. Jennemann oversees the case.

David R. McFarlin, Esq., at Fisher Rushner, P.A., is the Debtor's
legal counsel.


LTL MANAGEMENT: Files Lawsuit to Stop All Talc Claims vs. J&J
-------------------------------------------------------------
Steven Church, writing for Bloomberg News, reports that Johnson &
Johnson's bankrupt, baby powder-liabilities unit, LTL Management,
filed a second request to halt all lawsuits against the consumer
products giant after a judge said the initial paperwork was not
enough to justify stopping more than 38,000 cases.

The new lawsuit was filed as part of the bankruptcy of LTL
Management, which J&J formed earlier this October 2021 to hold all
of the company’s talc-related liabilities.  During a court
hearing Wednesday, October 20, 2021, in Charlotte, North Carolina,
U.S. Bankruptcy Judge Craig Whitley told LTL to file a formal
request to protect J&J from the lawsuits.

                   About LTL Management

LTL Management LLC is a newly formed subsidiary of Johnson &
Johnson. LTL was formed to manage and defend thousands of
talc-related claims and to oversee the operations of its
subsidiary, Royalty A&M. Royalty A&M owns a portfolio of royalty
revenue streams, including royalty revenue streams based on
third-party sales of LACTAID, MYLANTA /MYLICON and ROGAINE
products.

LTL Management LLC filed a Chapter 11 petition (Bankr. W.D.N.C.
Case No. 21-30589) on Oct. 14, 2021. The Hon. J. Craig Whitley is
the case judge.

The Debtor tapped JONES DAY as counsel, RAYBURN COOPER & DURHAM,
P.A., as co-counsel; BATES WHITE, LLC, as financial consultant; and
ALIXPARTNERS, LLP, as restructuring advisor. KING & SPALDING LLP
and SHOOK, HARDY & BACON L.L.P., serve as special counsel, and
McCARTER & ENGLISH, LLP is the litigation consultant.  EPIQ
CORPORATE RESTRUCTURING, LLC, is the claims agent.

The Debtor was estimated to have $1 billion to $10 billion in
assets and liabilities as of the bankruptcy filing.

                      About Johnson & Johnson

Johnson & Johnson (J&J) is an American multinational corporation
founded in 1886 that develops medical devices, pharmaceuticals, and
consumer packaged goods. J&J is the world's largest and most
broadly based healthcare company.

Johnson & Johnson is headquartered in New Brunswick, New Jersey,
the consumer division being located in Skillman, New Jersey. The
corporation includes some 250 subsidiary companies with operations
in 60 countries and products sold in over 175 countries.

Johnson & Johnson had worldwide sales of $82.6 billion during
calendar year 2020.


M & E TRUCK: Court Confirms Subchapter V Plan
---------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Pennsylvania
has entered an order confirming the Plan of M & E Truck Sales,
Inc., a small business filing under Subchapter V of Chapter 11 of
the Bankruptcy Code.

The treatment of Claim Number 8 filed by Contract Financial
Solutions, Inc. set forth in the Plan is stricken and this claim
shall be paid in accordance with the treatment of the Class 3
unsecured claims.

In the event the Debtor fails to make a payment to any Plan payment
recipient when due under the Plan, the creditor or other recipient
may immediately notify the Debtor in writing or by email of the
outstanding payment.

Funding of the Plan with non-estate assets and/or contributions
shall be permitted should such contributions be necessary to make
any Plan payments.

The Debtor will fund the Plan from the income from increased sales
of smaller vehicles obtained after the shutdown from the Covid-19
pandemic.  The Debtor's principal will be making all of the
payments from the Debtor's location with no need for the Subchapter
V trustee to make any payments to creditors.

Under the Plan, unsecured claims totaling $131,900 will recover 5
cents on the dollar.

A copy of the Third Amended Plan dated Sept. 29, 2021, is available
at https://tinyurl.com/e6n5hasj and https://tinyurl.com/y3dx9vrj

                    About M&E Truck Sales

M&E Truck Sales, Inc., sought protection for relief from the
Chapter 11 of the  Bankruptcy Code (Bankr. E.D. Pa. Case No.
20-14242) on Oct. 26, 2020, disclosing $50,000 in assets and
$100,001 to $500,000 in liabilities.  Center City Law Offices, LLC,
serves as the Debtor's counsel.


MAIN STREET: Says Income to Pay Unsecureds in Full
--------------------------------------------------
Main Street Investments III, LLC, submitted a Disclosure Statement
accompanying its Chapter 11 Plan of Reorganization.

The Debtor is proposing the Plan in order to maximize payment to
creditors.  The Debtor's Note and Deed of Trust held by
Clearinghouse Community Development Financial Institution ("CCDFI")
is being sold at a discount to a third party.  The Debtor will cure
any CCDFI default by negotiating a Loan Modification Agreement and
Forbearance with the new lender.  

It is proposed that the Debtor retain its assets and continue
business operation under the new terms.  The Debtor's Plan
encompasses a cure of its Note and Deed of Trust held by
Crowdcredit Estonia OU's and payment Debtor's remaining creditors
according to their status under the United States Bankruptcy Code
and as further set forth in this Disclosure Statement and the
accompanying Plan.

Class 4 General Unsecured Claims will receive payment in full
through business generated income following payment of all
Administrative Claims and in conjunction with Secured Claims and
Priority Unsecured Claims.  These claims will be paid over 60
months.  Class 4 is impaired.

The Reorganized Debtor will continue operations, leasing space to
tenants and gathering rents.  The Debtor's Financial Forecast
anticipates sufficient lease income to make payments anticipated
under the Plan.

Attorney for the Debtor:

     Marjorie A. Guymon, Esq.
     Amanda C. Netuschil, Esq.
     GOLDSMITH & GUYMON, P.C
     2055 Village Center Circle
     Las Vegas, Nevada 89134
     Tel: (702) 873-9500
     Fax: (702) 873-9600
     E-mail: mguymon@goldguylaw.com
             anetuschil@goldguylaw.com

A copy of the Disclosure Statement dated October 13, 2021, is
available at https://bit.ly/3aFw1rZ from PacerMonitor.com.

                 About Main Street Investments III

Main Street Investments III, LLC, a Las Vegas-based company, sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev.
Case No. 21-14042) on Aug. 16, 2021, listing $1,570,226 in assets
and $1,141,858 in liabilities.  David LeGrand, the Debtor's
manager, signed the petition.  Judge Mike K. Nakagawa presides over
the case. David Mincin, Esq., at Mincin Law PLLC, represents the
Debtor as legal counsel.


MEDLEY LLC: Unsecureds to Recover 2.02% to  2.17% in Plan
---------------------------------------------------------
Medley LLC, Medley Capital LLC and its Official Committee of
Unsecured Creditors jointly filed a proposed Modified Combined
Third Amended Disclosure Statement and Plan for the resolution of
the outstanding claims against, and equity interests in, the
Debtor.

The Combined Disclosure Statement and Plan is premised upon
maximizing the remaining value of the Debtor's assets.  The Debtor
has three primary assets: (i) cash on hand, (ii) the income stream
generated by non-Debtor Affiliates from the Remaining Company
Contracts, less the costs of operations, and (iii) Causes of
Action.  On the Effective Date, the Liquidating Trust will be
established for the benefit of creditors holding Allowed Claims and
on the Effective Date or by the Wind-Down Date, as applicable, the
Liquidating Trust Assets shall vest in the Liquidating Trust.  The
Liquidating Trust shall be funded with (i) all Cash held by the
Debtor on the Effective Date; (ii) the Initial GUC Funds, and (iii)
the Additional GUC Funds.

A large component of the Liquidating Trust Assets will be proceeds
from the Remaining Company Contracts.  As more fully set in the
liquidation analysis, the Proponents expect that for the period
ending March 31, 2022, the Remaining Company Contracts will
generate approximately $1,310,000 million of profit, which amount
is proposed to be available for distribution to the Liquidating
Trust on the Wind-Down Date. The potential availability of such
funds for the Liquidating Trust is only possible if the non-Debtor
Affiliates continue to honor the obligations under the Remaining
Company Contracts through the Runoff Date. If the non-Debtor
Affiliates fail to honor their obligations under the Remaining
Company Contracts, the Proponents expect that revenue will be lost
and certain clients will seek the return of some or all of those
funds. The Proponents therefore believe that continuing to honor
the Remaining Company Contracts will provide a significantly
greater recovery for Holders Allowed Claims than such Holders would
receive if the Remaining Company Contracts were terminated
immediately.

Medley Capital is the Debtor's main operating subsidiary. Medley
Capital employs all of the Company's employees and incurs
substantially all of the costs to operate the enterprise. Medley
Capital is also the registered investment adviser and provides
substantially all of the services to the clients, both advisory and
administrative, required under the Remaining Company Contracts.
Pursuant to various contracts with the Advisors and Sierra, Medley
Capital is to be reimbursed for all costs associated with the
provision of advisory and administrative services before the
remaining contractual fees are distributed to the Debtor. In order
for the Company to continue to generate revenues and profit for the
benefit of the Debtor's estate, Medley Capital must be able to
retain its employees and service the Remaining Company Contracts.

The most significant of the Remaining Company Contracts are the
Sierra IAA and the Administration Agreement between Sierra and
Medley Capital. On May 27, 2021, Sierra publicly announced that it
was exploring its strategic alternatives with respect to the Sierra
IAA. Based on that announcement, the Debtor, Medley Capital and
Sierra anticipate that the Sierra IAA will be transitioned to a new
manager and terminate at the end of 2021 or early 2022. Under the
Sierra IAA, the Sierra board of directors could terminate on 60
days' notice or on an expedited timeline, if Medley Capital and SIC
Advisors were unable to continue to continue to perform under the
Sierra IAA. In either case, loss of the Sierra IAA would result in
a material loss of net proceeds to be distributed to the Debtor and
a reduction in recoveries to Allowed Claims.

Notwithstanding Sierra's ability to terminate the Sierra IAA early,
Sierra has determined to have Medley Capital and SIC Advisors
continue to provide advisory and administrative services until
Sierra is able to transition to a new manager, which is likely to
occur sometime between December 31, 2021 and March 31, 2022. To
ensure that Medley Capital is able to retain the employees
necessary to service the Sierra IAA through the transition period,
Sierra has agreed to provide additional funds to the Debtor or the
Liquidating Trust, as applicable, and Medley Capital, to partially
fund the Non-Debtor Compensation Plan, which is designed to provide
industry standard compensation to employees that remain with Medley
Capital through January 31, 2022.

Accordingly, Medley Capital, the Debtor and a special committee of
independent board members of Sierra have reached an agreement by
and through which Sierra will make a material contribution of
$2,100,000 to fund a portion of the Non-Debtor Compensation Plan
for the benefit of Medley Capital's employees.  The Non-Debtor
Compensation Plan will provide a total of $5,744,000 to pay market
compensation to employees that remain with Medley Capital through
January 31, 2022.  Sierra will fund its portion through the Sierra
Commitment Letter.  The balance will be funded by Medley Capital
and the other non-Debtor subsidiaries.  The Non-Debtor Compensation
Plan will be paid to employees between September 30, 2021 and
January 31, 2022.

The Non-Debtor Compensation Plan is critical to maximizing value
for the benefit of Holders of Allowed Claims.  The alternative,
terminating the Remaining Company Contracts immediately, would mean
reduced cash received by the Liquidating Trust and in turn, likely
recoveries to Holders of Allowed Claims would be materially reduced
and the Debtor and its non-Debtor Affiliates could face potential
claims under the Remaining Company Contracts.

The Combined Disclosure Statement and Plan provides for the
exculpation of a limited universe of parties which were
instrumental in bringing this case to a successful conclusion.  The
Debtor is also providing releases to certain parties, including
Sierra, Medley Capital and certain employees of Medley Capital.

Each holder of an Allowed General Unsecured Claim in Class 4 will
receive a pro rata share of the Assets Available for distribution
to Unsecured Creditors, which shall be shared Pro Rata among
Holders of Allowed Notes Claims and Allowed General Unsecured
Claims.  Unsecured creditors will recover $7.77 million to $18.11
million of their claims. Class 4 is impaired.  The class is
projected to recover 2.02% to 2.17%.

Counsel to the Debtor:

     Jeffrey R. Waxman
     Eric J. Monzo
     Brya M. Keilson
     MORRIS JAMES LLP
     500 Delaware Avenue, Suite 1500
     Wilmington, Delaware 19801
     Tel: (302) 888-6800
     Fax: (302) 571-1750
     Email: jwaxman@morrisjames.com
            emonzo@morrisjames.com
            bkeilson@morrisjames.com

Counsel to the Official Committee of Unsecured Creditors of Medley
LLC:

     Christopher M. Samis
     D. Ryan Slaugh
     POTTER ANDERSON & CORROON LLP
     1313 N. Market Street, 6th Floor
     Wilmington, Delaware 19801
     Tel: (302) 984-6000
     Fax: (302) 658-1192
     E-mail: csamis@potteranderson.com
            rslaugh@potteranderson.com

           - and -

     James S. Carr
     Benjamin D. Feder
     Sean T. Wilson
     KELLEY DRYE & WARREN LLP
     3 World Trade Center
     175 Greenwich Street
     New York, New York 10007
     Tel: (212) 808-7800
     Fax: (212) 808-7897
     Email: jcarr@kelleydrye.com
            bfeder@kelleydrye.com
            swilson@kelleydrye.com

Counsel to Medley Capital LLC:

     Gregory A. Taylor
     ASHBY & GEDDES, P.A.
     500 Delaware Avenue, 8th Floor
     P.O. Box 1150
     Wilmington, Delaware 19899
     Tel: (302) 654-1888
     Fax: (302) 654-2067
     Email: gtaylor@ashby-geddes.com

            - and -

     Justin Rawlins
     PAUL HASTINGS LLP
     515 South Flower Street, 25th Floor
     Los Angeles, California 90071
     Tel: (213) 683-6130
     Fax: (213) 996-3130
     Email: justinrawlins@paulhastings.com

            - and -

     Matthew Micheli
     Brendan M. Gage
     71 S. Wacker Drive, 45th Floor
     Chicago, Illinois 60606
     Tel: (312) 499-6018
     Fax: (312) 499-6118
     Email: mattmicheli@paulhastings.com
            brendangage@paulhastings.com

A copy of the Disclosure Statement dated October 13, 2021, is
available at https://bit.ly/3lKPXjE from KCC LLC, the claims
agent.

                        About Medley LLC

Medley LLC, through its direct and indirect subsidiaries, including
Medley Capital LLC, is an alternative asset management firm
offering yield solutions to retail and institutional investors.  It
provides investment management services to a permanent capital
vehicle, long-dated private funds, and separately managed accounts,
and serves as the general partner to the private funds. Medley is
headquartered in New York City and incorporated in Delaware.

As of Sept. 30, 2020, Medley had $3.4 billion of assets under
management in two business development companies, Medley Capital
Corporation (NYSE: MCC) and Sierra Income Corporation, and several
private investment vehicles. Over the past 18 years, Medley has
provided capital to over 400 companies across 35 industries in
North America.

Medley filed a Chapter 11 bankruptcy petition (Bankr. D. Del. Case
No. 21-10526) on March 7, 2021.  The Debtor disclosed $5,422,369 in
assets and $140,752,116 in liabilities as of March 2, 2021.

The Debtor tapped Lowenstein Sandler LLP and Morris James LLP as
bankruptcy counsel, Eversheds Sutherland (US) LLP as special
counsel, B. Riley Securities Inc. as investment banker, and
Andersen Tax LLC as tax accountant.  Corporation Service Company
serves as the Debtor's independent manager.  Kurtzman Carson
Consultants, LLC is the claims agent.

The U.S. Trustee for Region 3 appointed an official committee of
unsecured creditors on April 22, 2021.  The committee is
represented by Potter Anderson & Corroon, LLP and Kelley Drye &
Warren, LLP.


MICROVISION INC: CFO Stephen Holt to Retire Next Month
------------------------------------------------------
Stephen P. Holt, chief financial officer of MicroVision, Inc., will
be retiring from the Company effective Nov. 15, 2021.  Mr. Holt,
who joined MicroVision in 2013, will remain with the Company as an
advisor through the first half of fiscal 2022 to facilitate a
smooth transition.

On Nov. 15, 2021, Anubhav Verma will join the Company as vice
president, chief financial officer and treasurer, overseeing all
financial operations at MicroVision.  Verma will report to CEO
Sumit Sharma.

"On behalf of MicroVision and our Board, I would like to thank
Steve for his many contributions over the past eight years," said
Sumit Sharma, MicroVision's chief executive officer.  "He has been
a valuable member of our executive team and steadfast leader of our
finance organization, helping us navigate many challenges over the
years and significantly strengthening our balance sheet over the
past twelve months."

"Anubhav is a talented and energetic leader with strong experience
as a finance executive and investment banker," Sharma continued.
"Anubhav will bring perspective and experience that will be
invaluable to MicroVision as we continue to execute on our strategy
and accelerate growth.  We are thrilled to have him join our
team."

"I am delighted to join MicroVision and look forward to working as
part of the leadership team to help accelerate the Company's growth
and create value for its stakeholders," said Verma.

Verma is a seasoned finance professional having most recently
served as senior vice president, Finance at Exela Technologies,
where he led significant growth initiatives and acquisitions.
Prior to that, he spent nearly eight years as an investment
professional, with significant involvement in a wide variety of
capital market and M&A transactions.

"I have very much enjoyed working with the outstanding people at
MicroVision, and I have especially enjoyed my working relationship
with Sumit.  I have the utmost confidence in the Company and the
team at MicroVision," said Holt.  "As we near the completion of our
long-range lidar development, and given the Company's strong
balance sheet, this is an excellent time to make this transition."

In connection with his appointment, the Compensation Committee of
the Board approved certain compensatory arrangements for Mr. Verma.
Specifically, the Compensation Committee approved (i) an annual
cash base salary of $400,000, payable in accordance with the
Company's standard payroll practices, (ii) an annual incentive
bonus opportunity of up to $160,000, to be paid in the form of cash
or vested restricted stock units, or RSUs, (iii) a one-time
new-hire equity incentive award, payable in the form of RSUs valued
at $1,500,000 on the grant date, scheduled to vest over four years
subject to continued employment on each vesting date, and (iv) an
annual long-term equity incentive opportunity, payable in the form
of RSUs valued at $600,000 on the grant date scheduled to vest in
four equal installments on each of the first, second, third and
fourth anniversaries of grant subject to continued employment on
each vesting date.  The RSU awards are to be granted pursuant to
the 2020 MicroVision, Inc. Incentive Plan and subject to the terms
and conditions of that plan and the award agreement thereunder.

                         About MicroVision

MicroVision -- http://www.microvision.com-- is a pioneering
company in MEMS based laser beam scanning technology that
integrates MEMS, lasers, optics, hardware, algorithms and machine
learning software into its proprietary technology to address
existing and emerging markets.  The Company's integrated approach
uses its proprietary technology to provide solutions for automotive
lidar sensors, augmented reality micro-display engines, interactive
display modules and consumer lidar modules.

MicroVision reported a net loss of $13.63 million for the year
ended Dec. 31, 2020, compared to a net loss of $26.48 million for
the year ended Dec. 31, 2019.  As of June 30, 2021, the Company had
$140.42 million in total assets, $11.52 million in total
liabilities, and $128.90 million in total shareholders' equity.


MIDWEST VETERINARY: S&P Affirms 'B-' ICR, Outlook Stable
--------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issuer credit rating on
Midwest Veterinary Partners (d/b/a Mission Veterinary Partner; MVP)
and its 'B-' issue-level rating on its first-lien term loan. The
recovery rating on this debt remains '3'.

S&P said, "The stable outlook reflects our expectation that MVP
will continue to be acquisitive, but that free cash flow generation
will be positive. We expect mid-single-digit organic revenue growth
and EBITDA margins of at least 19%, but expect leverage to remain
very high at above 10x.

"The pace of acquisitions has been much faster than what we
expected during our initial rating in April 2021. MVP is looking to
close more than twice as many acquisitions during 2021 than
previously expected, including several higher multiple strategic
acquisitions. This more aggressive pace, which we expect to result
in full-year 2022 revenue 76% higher than our previous forecast,
will be funded by this incremental add-on and the $125 million
preferred equity issuance from August. Adjusted leverage is higher
than our previous expectation as a result. Increasing multiples and
its impact on cash flow generation also remains a key credit risk.

"Adjusted leverage is higher than our previous forecast, although
we expect free operating cash flows to remain positive.Pro forma
2021 adjusted leverage (inclusive of our debt treatment for the
class A and A+ preferred equity, which accrues paid-in kind [PIK]
interest) increases to 13.6x (11.7x excluding the preferred) from
our prior expectation of 12.5x because of the incremental fungible
term loan. We expect adjusted leverage to decline to around 10.5x
for 2022 (9.0x when excluding the preferred equity). Despite this
very high leverage, we expect MVP to generate between 3.5%-4% free
operating cash flow (FOCF) to debt because we think the company
will achieve EBITDA margins of about 19% and because of relatively
low capex and working capital uses as a percentage of revenue.

"We continue to believe veterinarian practice management (VPM) has
favorable industry characteristics." These include secular
tailwinds, significant consolidation opportunities to increase
scale, and favorable payment dynamics. Pet ownership continues to
increase in the U.S., and owners are spending more on animal
health--a trend amplified by the pandemic, which has caused owners
to spend even more time with their pets.

The VPM industry remains highly fragmented, but competitive.
Approximately 87% of veterinary hospitals in the U.S. are
independently owned, but the addressable market of appropriate
targets for these consolidators (typically greater than $1 million
in annual revenue) is much smaller. While the opportunity for
acquisitions remains sizable, the competitive nature of the bidding
process has led to higher acquisition multiples in recent years and
made the strategy more expensive. Nonetheless, S&P believes that
pet ownership and spending on animal health will remain strong,
supporting continued organic growth and margin expansion that
should help generate cash flow to fund acquisitions.

Veterinary services are primarily cash pay, which means that
veterinary operators lack the reimbursement risk of other health
care service providers.

S&P said, "The stable outlook reflects our expectation that MVP
will continue to be acquisitive, but that free cash flow generation
will be positive. It also reflects our expectation for mid-single
digit organic revenue growth, EBITDA margins of at least 19%, but
that leverage will remain very high and above 10x.

"We could lower the rating if the company's organic revenue growth
is slower than we expect or if planned acquisitions are
nonaccretive (net of interest expense). This could lead us to
believe there is an increased risk that MVP cannot cover its fixed
charges, including mandatory debt amortization. In this scenario,
we would conclude that the company's capital structure is
unsustainable in the long run.

"Although unlikely over the next 12 months, we could consider a
higher rating if the company focuses on permanent debt reduction,
such that it sustains adjusted leverage materially below 9x and
FOCF to debt well above 3%. We would also need a clear
demonstration of the company's commitment to maintaining credit
measures at this improved level, as well as a longer track record
of strong earnings performance."



MOHAMMAD REZA ASSADI: 5th Cir. Affirms Conversion to Chapter 7
--------------------------------------------------------------
The United States Court of Appeals for the Fifth Circuit issued a
decision dated Oct. 19, 2021, a full-text copy of which is
available at https://tinyurl.com/4v9ne54k from Leagle.com,
affirming the District Court's decision converting Mohammad Reza
Assadi's Chapter 11 case to one under Chapter 7.

Mr. Assadi filed the voluntary Chapter 11 petition on July 7, 2020.
On September 11, 2020, in a show-cause hearing, the bankruptcy
judge converted the case to Chapter 7 for reasons including Mr.
Assadi's bad title to his real property assets and his lack of
consistent income.  Mr. Assadi, proceeding pro se, challenged the
bankruptcy court's conversion order, and the district court
affirmed.

The sole issue on appeal is whether the bankruptcy court erred by
involuntarily converting the case to Chapter 7 liquidation for
cause pursuant to 11 U.S.C. Section 1112(b)(1).  Because the record
does not indicate that the bankruptcy court abused its discretion,
the Fifth Circuit affirmed.

During the show-cause hearing, Mr. Assadi, proceeding pro se,
admitted he had no personal bank account, that he was using one of
his business's bank accounts (opened and funded after filing his
Chapter 11 petition) for personal expenses, and that he had unpaid
pre-petition domestic support obligations.  The bankruptcy judge
also determined that Mr. Assadi had no consistent income and that
his only substantial assets were his real properties, to which he
had bad title.  The bankruptcy court found that, together, these
facts reflected a high likelihood of a failed reorganization
attempt.  Therefore, the bankruptcy court did not abuse its
discretion in finding that there was cause for conversion, the
Fifth Circuit held.

Accordingly, the Fifth Circuit found all other arguments raised by
Assadi to be meritless.  The district court did not err in
affirming the conversion of Assadi's case to one under Chapter 7,
the appeals court said.

The appellate case is Mohammad Reza Assadi, doing business as
Robland, L.L.C., doing business as F&F Family, L.P., doing business
as Landmag Corporation, doing business as Amrco, Incorporated,
doing business as Gidland Corporation, doing business as Texas
Ecars, L.L.C., doing business as F&F Operating Company, L.L.C.,
doing business as Auomax Automotive Group, Appellant, v. Randolph
N. Osherow, Appellee, No. 21-50293 (5th Cir.).

Mohammad Reza Assadi sought Chapter 11 protection (Bankr. W.D. Tex.
Case No. 20-10766) on July 7, 2020.  The Debtor tapped Laurie Boyd,
Esq., as counsel.


MOTUS GROUP: Moody's Assigns First Time B3 Corporate Family Rating
------------------------------------------------------------------
Moody's Investors Service assigned first-time ratings to Motus
Group, LLC, including a B3 Corporate Family Rating, B3-PD
Probability of Default Rating and B2 ratings to the proposed $390
million senior secured first lien term loan and $50 million
revolving credit facility. The outlook is stable.

The proposed credit facilities, together with a $135 million second
lien term loan (unrated) and a substantial portion of new cash
equity from funds advised by Permira Advisers, LLC and Thoma Bravo,
as well as the rollover equity from Thoma Bravo and management will
be used to finance the acquisition of Motus.

Assignments:

Issuer: Motus Group, LLC

Probability of Default Rating, Assigned B3-PD

Corporate Family Rating, Assigned B3

Senior Secured Revolving Credit Facility, Assigned B2 (LGD3)

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

Outlook Actions:

Issuer: Motus Group, LLC

Outlook, Assigned Stable

RATINGS RATIONALE

Motus' B3 CFR reflects the company's very high leverage following
the LBO by the financial sponsors. Pro forma for the transaction,
Moody's adjusted leverage was 8.8x debt/EBITDA (excluding
non-recurring expenses and stock-based compensation and expensing
software development costs) as of July 31, 2021. On a cash EBITDA
basis, that includes change in deferred revenue minus capitalized
commission costs, leverage can be viewed as 8.1x debt/EBITDA.
Moody's projects that revenue growth in the low teens percentage
range, in line with historic growth rates, over the next 12 to 18
months, will allow Motus to reduce its cash adjusted leverage to
around 7.5x. The rating is also constrained by the company's very
small scale, with around $115 million of revenue as of July 31,
2021, limited product offerings and the uncertainty regarding the
future of mobile work that can be potentially replaced by remote
arrangements.

Motus benefits from a leading market position as a provider of FAVR
(fixed and variable rate) vehicle mileage reimbursement solutions.
This is underpinned by the company's proprietary data and the
relatively low penetration of software applications in its target
markets that support strong revenue growth. The stickiness of the
company's offerings is evidenced by gross retention rates in the
high 90%, which remained stable during the pandemic. In addition,
Motus benefits from its highly recurring subscription revenue base
(approximately 85% in the LTM ended July 31, 2021) and good free
cash flow. As of July 31, 2021 free cash flow to debt was around 5%
and Moody's projects it to remain in the mid to high single digit
range.

Governance considerations limit Motus' ratings and include the
company's tolerance for high financial risk and Moody's expectation
for shareholder friendly financial policies.

Motus has very good liquidity, supported by $30 million of cash at
the close of the transaction, a $50 million undrawn revolving
credit facility due 2026, and Moody's expectation of $35 - $40
million of free cash flow in 2022. The proposed revolving credit
facility is expected to contain a total net first lien leverage
covenant of 9.6x triggered when 40% or more is outstanding. Moody's
does not anticipate the covenant to be tested and expects that
Motus will maintain strong cushion over at least the next year.

The stable outlook reflects Moody's expectation that Motus will
generate strong organic revenue growth in the low teens percentage
range over the next 12 to 18 months and will maintain very good
liquidity and free cash flow to debt of at least 5%. Moody's
further expects the company's cash adjusted leverage to decline to
around 7.5x by the end of 2022.

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

The ratings could be upgraded if Motus' scale increases materially,
its revenue diversification improves, and cash adjusted leverage is
expected to remain below 6x.

The ratings could be downgraded if Motus does not generate positive
organic revenue growth, leverage is sustained above 8x debt/EBITDA
(on a cash basis), or free cash flow to debt is below 2%.

STRUCTURAL CONSIDERATIONS

The B2 rating on Motus' proposed senior secured first lien term
loan due 2028 and revolving credit facility due 2026 reflects the
debt's senior position in the company's capital structure, above
the $135 million senior secured second lien term loan (unrated).

As proposed, the new credit facilities for Motus are expected to
provide covenant flexibility that if utilized could negatively
impact creditors. Notable terms include the following:

Incremental debt capacity up to the greater of LTM EBITDA at
issuance and 100% of Consolidated LTM EBITDA, plus unused capacity
reallocated from the general debt basket, plus unlimited amounts
subject to 5.75x total net first lien leverage ratio (if pari passu
secured). In addition, amounts up to 5.75x total net first lien
leverage along with any indebtedness incurred for purposes of
consummating a permitted acquisition or similar permitted
investment and any other indebtedness up to an amount to be set in
the first lien facilities documentation, can be incurred with an
earlier maturity than the initial loans.

Non-wholly-owned subsidiaries are not required to provide
guarantees; dividends or transfers resulting in partial ownership
of subsidiary guarantors could jeopardize guarantees, subject to
protective provisions limiting such guarantee releases if such
transfer was not consummated for the primary purpose of evading the
guarantee or collateral requirements.

There are no express protective provisions prohibiting an
up-tiering transaction.

The proposed terms and the final terms of the credit agreement may
be materially different.

Headquartered in Boston, MA, Motus Group, LLC is a provider of
software for vehicle reimbursement and mileage tracking (around 80%
of 2020 revenue), as well as device (15%) and remote work and
relocation (5%) reimbursement solutions. Motus generated around
$115 million of revenue in the LTM ended July 31, 2021. Pro forma
for the transaction, the company will be owned by Thoma Bravo,
Permira and management.

The principal methodology used in these ratings was Software
Industry published in August 2018.


MY SIZE: Files Suit vs Lazar-led Activist Group
-----------------------------------------------
My Size, Inc.  has filed a lawsuit in the United States District
Court for the Southern District of New York against David Lazar,
Milton C. Ault III, and others.  The suit seeks, among other
things, to enjoin the Activist Group from misleading My Size
stockholders and waging an illegal proxy contest to seize control
of the Company's Board of Directors.

In its suit, My Size asserts that the Activist Group has been
engaged in a "wolf pack" campaign over the past year to take
control of the Board through an unlawful proxy solicitation and by
the filing of false and misleading Schedule 13Ds with the
Securities and Exchange Commission.  Notably, My Size contends the
Activist Group failed to disclose that the true purpose underlying
its security purchases was to merge My Size with another company.
My Size was left with no other option than to take legal action to
enjoin the Defendants from continuing to violate the federal
securities laws and misleading stockholders for their own benefit.

Ronen Luzon, chief executive officer and founder of My Size,
commented:

"The Board and management team have decided to take this
extraordinary step to protect My Size for the benefit of all
stockholders.  We firmly believe that the Activist Group has
purposefully misled stockholders for its own benefit and in doing
so, has violated the federal securities laws.  We look forward to
resolving this matter as quickly as possible, so management can
turn its focus back to commercializing our cutting-edge technology
and strengthening our market position.  Following the addition of a
seasoned industry executive to our Board in August and the
consolidation of our IP portfolio exclusively within the Company,
we believe My Size is well-positioned to seize greater market share
and deliver value for stockholders in the coming quarters."

In its complaint, the Company asserts that the Activist Group has
carried out a number of unlawful activities, including:

   * The Defendants made false and misleading regulatory filings
that failed to properly disclose the formation and membership of
the Activist Group.  The Defendants failed to fully disclose that
they had entered into one or more undisclosed contracts,
arrangements, understandings or relationships to gain control of
the Company.

   * The Activist Group made false and misleading regulatory
filings that failed to reveal its true purpose for purchasing
shares of the Company.  My Size contends the Activist Group failed
to disclose in its filings with the Securities and Exchange
Commission that its purchases of the Company's securities were done
to facilitate a shell-style reverse merger or other similar
transaction, with another company replacing the Company's current
business with an entirely different one.  In an episode on Mr.
Ault's YouTube channel, which was published the day after the
filing of Mr. Ault's Schedule 13D and Mr. Lazar's second Schedule
13D/A, Mr. Ault boasted that he and Mr. Lazar collectively
controlled 20% of the outstanding stock in the Company and believed
My Size "should merge with another public company very similar to
Ikonics [...] we are going to be pushing for them to take action
and get the company into another business."

   * The Defendants violated the Exchange Act proxy rules in their
attempts to solicit votes without a proxy statement on file with
the Securities and Exchange Commission.  My Size has learned that
Mr. Lazar has utilized WhatsApp Messenger to contact at least one
investor as part of an effort to solicit votes in favor of the
slate of insurgent director nominees consisting of Mr. Lazar and
certain other Defendants.  Mr. Lazar went as far as to instruct the
investor when they should purchase shares in the Company, so that
those shares could be eligible to be voted at the Company's 2021
Annual Meeting of Stockholders.

Stockholders are not required to take any action at this time.  The
Board intends to schedule the 2021 Annual Meeting of Stockholders
and will present its director candidates for election at the
meeting in its proxy materials, which will be filed with the
Securities and Exchange Commission in due course.

                           About My Size

Headquartered in Airport City, Israel, My Size, Inc. --
www.mysizeid.com -- is a creator of mobile device measurement
solutions that has developed innovative solutions designed to
address shortcomings in multiple verticals, including the
e-commerce fashion/apparel, shipping/parcel and do it yourself, or
DIY, industries.  Utilizing its sophisticated algorithms within its
proprietary technology, the Company can calculate and record
measurements in a variety of novel ways, and most importantly,
increase revenue for businesses across the globe.

My Size reported a net loss of $6.16 million for the year ended
Dec. 31, 2020, compared to a net loss of $5.50 million for the year
ended Dec. 31, 2019.  As of June 30, 2021, the Company had $6.36
million in total assets, $1.41 million in total liabilities, and
$4.94 million in total stockholders' equity.

Tel Aviv, Israel-based Member Firm of KPMG International, the
Company's auditor since 2017, issued a "going concern"
qualification in its report dated March 29, 2021, citing that the
Company has incurred significant losses and negative cash flows
from operations and has an accumulated deficit that raises
substantial doubt about its ability to continue as a going concern.



NEW HOLLAND: Unsecureds Will Recover 100% Under Plan
----------------------------------------------------
New Holland, LLC, submitted a Plan and a Disclosure Statement.

In summary, this is a reorganizing plan that provides for payment
to holders of allowed claims over time.

General Unsecured Claims (Class 2) total $6,797.  Under the Plan,
holders of General Unsecured Claims will receive 100% of their
claims upon the Debtor obtaining the funds through either the
refinancing or sale of the Mulholland Property and/or Vacant Lots.

The Debtor will fund the Plan from the refinancing or sale of some
or all of its properties, which includes the seven vacant lots and
the Mulholland Property.

Attorney for the Debtor:

     Michael Jay Berger
     LAW OFFICES OF MICHAEL JAY BERGER
     9454 Wilshire Blvd., 6th Floor
     Beverly Hills, CA 90212-2929
     Telephone: (310) 271-6223
     Facsimile: (310) 271-9805
     Email: Michael.Berger@bankruptcypower.com

A copy of the Disclosure Statement dated Oct. 13, 2021, is
available at https://bit.ly/3lGjif0 from PacerMonitor.com.

                       About New Holland

New Holland, LLC, filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No.
21-16454) on Aug. 13, 2021, disclosing up to $50 million in assets
and up to $10 million in liabilities.  New Holland President
Patrick R. Kealy signed the petition.  Judge Barry Russell oversees
the case.  The Law Offices of Michael Jay Berger serves as the
Debtor's legal counsel.


NEWDAY GROUP: S&P Affirms 'B+' ICR, Outlook Stable
--------------------------------------------------
S&P Global ratings affirmed its 'B+' rating on NewDay Group
(Jersey) Ltd., and it remains on stable outlook.

S&P said, "At the same time, we raised our rating on the group's
senior secured debt to 'B+'. This upgrade reflects our improved
view of the group's asset encumbrance relative to its senior
secured bonds, and our expectation that the group will be able to
fund its growth in a balanced way, using its solid earnings and
cash generation."

NewDay's issuer credit rating continues to reflect its solid
footprint in the U.K. credit card market, good earnings generation
capacity, negative tangible equity, and a mature and diverse
funding franchise. S&P said, "Our rating on NewDay balances the
group's solid strategic niche and funding franchise against deeply
negative tangible capital. The affirmation and 'B+' rating is led
by our unfavorable view of NewDay's negative tangible equity base
of GBP229 million at year-end 2020, against our supportive view of
its high-margin, reasonably resilient, and well-managed business
model, and its robust funding and liquidity position."

S&P said, "We have raised our rating on NewDay's bonds to 'B+'.
Historically, we rated the GBP325 million of senior secured notes
issued by NewDay BondCo PLC at 'B', one notch below our issuer
credit rating on NewDay. Until July 2021, NewDay had GBP425 million
of notes outstanding, split across a GBP275 million tranche and a
GBP150 million tranche. The GBP150 million floating rate notes were
repaid in July from GBP100 million of free cash in the group, and a
fungible bond tap on the group's GBP275 million notes of GBP50
million. Our previous 'B' rating on the note reflected significant
asset encumbrance from the group's securitization program and low
coverage of the group's super senior revolving credit facility
(RCF) by our measure of its adjusted asset base. Together these
factors pointed toward a one-notch-lower rating on the bond.
However, following the group's financing actions and the subsequent
reduction in gross debt, our ratio of unencumbered assets to senior
secured debt has improved significantly. To illustrate this point,
we estimate that our ratio of unencumbered assets to senior secured
debt will sit around 75%-80% at year-end 2021. This is an
improvement of around 30 percentage points from 2018. At the same
time, our coverage of super senior debt by adjusted assets has
improved. For year-end 2021, we estimate a level of about 2.6%--a
solid position and one we expect NewDay to maintain consistently.
All told, NewDay's broadly improving asset coverage leads us to
raise our rating on the notes to 'B+'."

NewDay has experienced a sustained recovery in its performance
through the first half of 2021.2020 was challenging for NewDay.
Growth stalled, suppressing net income (down about 4%), and the
group's International Financial Reporting Standard 9 (IFRS 9)
impairment charge surged, growing 47% to GBP450 million for the
year. The group reported a deep loss of GBP129 million for the
year. The first half of 2021 has seen a return to stability for the
group, however. Net interest income stabilized, cost control was
tight, and impairment charges fell to 10% of average gross
receivables versus 16% for full-year 2020. In summary, these
tailwinds combined to result in a decent net income of GBP20
million for the six months to June 30, 2021, and we expect this to
accelerate as the group moves through the second half of the year.

Record card issuance in the group's core business in the first half
of 2021 will drive rapid balance sheet growth for the group in the
next 24 months. Through the first six months of 2021, NewDay
recorded record new card issuance in its own-brand card business of
257,000 new accounts, with the group now running 1.275 million
active customer cards in this segment. When this own-brand issuance
is combined with the co-brand card issuance, NewDay represented 16%
of U.K. new credit card issuance for the half year, and about 5% of
outstanding credit card receivables in the U.K. for the same
period. This solid niche position in the market gives NewDay a good
platform for growth in the next 12 to 24 months, as U.K. card spend
begins to tick back up after 18 months of precipitous decline. S&P
said, "To this end, we forecast receivables growth in the
own-brands business of 10%-12% this year, and 12%-14% growth in
2022. While co-brands growth will be more subdued following the
insolvency of key founding partners in this business, NewDay's
pivot to new e-tailer business is well underway and should bear
fruit in 2022. For co-brands, we expect a flat book for full-year
2021, evolving into 3%-5% growth in 2022."

S&P's stable outlook on NewDay indicates that the group will see a
return to strong growth and statutory profitability over the next
12 months, while maintaining underwriting discipline and robust
liquidity and funding.

Upside scenario

S&P said, "We consider an upgrade to be unlikely in the near term,
owing to lingering uncertainties around the post-pandemic operating
environment in the context of NewDay's concentrated business model.
That said, we could consider an upgrade if NewDay were to
demonstrate stronger earnings growth than we assume while
maintaining asset quality and risk appetite, and progressing to
positive tangible equity."

Downside scenario

S&P said, "We could consider taking a negative rating action on
NewDay if it is unable to return to profitability on a sustained
basis. Similarly, we could take a negative rating action if
NewDay's risk appetite increases sharply or if the group faces
operational issues associated with our expectation of a return to
more rapid receivables growth in 2022."

S&P's Base-Case Scenario

S&P said, "Given our analysis of NewDay as a nonbank financial
institution, which stems from our view of its risk-adjusted
capital, our forecasts focus particularly on the group's tangible
capital generation and asset growth. Our base case for NewDay
therefore assumes a return to rapid receivables growth in the next
24 months, stabilizing asset quality, and improving net income
generation. Although the U.K. economic picture remains somewhat
uneven, with significant excess demand and a return of inflation to
the system, we are confident that NewDay is well positioned to
manage its performance tightly in the next 12-24 months."

Assumptions

-- S&P expects the group to grow its receivables base by about 4%
in 2021, and accelerate to 10%-12% in 2022 and 2023. Within this
high rate of growth, it expects particularly rapid growth in
own-brand receivables of above 10%, and stable growth in co-brand
receivables of 3%-5% through 2022, led by expansion in e-tailer
partnerships--both through existing card channels and the group's
buy-now-pay-later and digital card propositions.

-- More normalized net interest income in 2021, approaching 2019
levels for the full year, and accelerating in 2022 towards GBP720
million-GBP740 million.

-- A more sluggish return to normalized fee income in the group,
as travel and associated card fees remain subdued. S&P does not
expect a return to 2019 fee levels before 2023.

-- Good cost control in the group with total operating expenditure
falling in 2021 and growing modestly into 2022 and 2023. S&P
expects a ratio of operating expenses to operating revenue (or the
sum of net interest income and fee income) of 34%-36% in 2021, to
move incrementally toward 30% by 2023.

-- Impairment charges through the profit and loss statement to
fall to about GBP290 million, or 9.5% of average gross receivables,
in 2021. As the group accelerates its growth in 2022, we would
expect impairment expense to tick up in line with gross
receivables, though within this we expect the impairment rate will
remain in the range of 9.5%-11%.

-- Taken together, the improving earnings profile and a controlled
expense and impairment base will see the group return to brisk net
income generation in 2021 with S&P's base case expectation GBP50
million-GBP55 million for the year, approaching GBP70 million in
2022.



NEXUS BUYER: S&P Alters Outlook to Stable, Affirms 'B-' ICR
-----------------------------------------------------------
S&P Global Ratings revised the outlook to stable from positive and
affirmed its 'B-' issuer credit rating.

S&P said, "At the same time, we affirmed our 'B-' issue level
rating and '3' recovery rating on the company's first-lien credit
facility. Additionally, we assigned our 'CCC' rating and '6'
recovery rating to the new second-lien term loan.

"The outlook revision reflects the significant increase in leverage
related to the shareholder distribution and our expectation that it
will remain well above our 7x upgrade threshold for the next 12
months."

Washington, D.C.-based provider of Federal Deposit Insurance Corp.
(FDIC)-insured deposit services Nexus Buyer LLC (IntraFi Network)
will issue $540 million in new second-lien debt and use $96 million
cash on hand to fund a $515 million shareholder dividend, pay $113
million in change-of-control expenses related to its 2019 leveraged
buyout (LBO), and pay associated fees and expenses.

Following the transaction, IntraFi's S&P Global Ratings-adjusted
leverage will increase to about 9x, its approximate initial
leverage following its 2019 LBO by The Blackstone Group, from 6x as
of June 30, 2021. S&P said, "We expect IntraFi will continue its
strong operating performance, however leverage is unlikely to
decline as quickly due to the more benign economic environment with
lower demand for deposit liquidity among its bank members. Under
our base-case forecast, we expect slower volume growth and limited
fee rate improvement will cause net revenue growth to moderate to
the high-single-digit percent area in 2021 and the low-teens
percent area in 2022, from 28.6% in 2020." This should drive
leverage reduction to the mid-7x area by year-end 2022 and the
mid-6x area at year-end 2023.

IntraFi's concentrated financial sponsor ownership structure will
likely result in ongoing debt-funded dividends and persistently
high leverage.

IntraFi's strong earnings growth potential increases the likelihood
of additional shareholder distributions funded both from cash on
hand and incremental debt in the coming years, potentially delaying
improvement in credit measures. Since the 2019 LBO, Blackstone has
recouped roughly half of its initial equity investment through
debt-funded dividends. S&P expects future solid operating
performance and EBITDA growth is likely to result in further
leveraging shareholder returns, which limits upside to our
ratings.

The company's solid cash flow and liquidity profile support S&P's
ratings.

S&P said, "While its cash balances will be modest following the
transaction, we forecast free operating cash flow (FOCF) to debt of
about 4% in 2022 and about 4.5% in 2023, building cash balances
toward $100 million in 2023. We believe IntraFi's cash flow
generation and undrawn $100 million revolving credit facility will
adequately support business reinvestment needs as it rolls out its
new service lines, Yankee Sweep and IND Reciprocal."

IntraFi's cash flow generation benefits from the operating leverage
of its highly fixed-cost base, resulting in high S&P Global
Ratings-adjusted EBITDA margins approaching 70%, and modest working
capital and capital expenditure requirements. In addition, cash
flow will improve in 2022 following its LBO-related
change-of-control payment in November 2021. Offsetting factors
include the incremental second-lien interest expense related to the
dividend and high 53.5% annual tax distributions to Blackstone and
non-Blackstone entities. However, these tax distributions are
ultimately discretionary.

S&P said, "Key risks to the company's cash flow and credit metrics,
in our view, include the direct impact to earnings of potential
revenue declines given its highly fixed-cost base. This could
result from regulatory changes that affect deposit volume growth
such as reversal of the Economic Growth, Regulatory Relief, and
Consumer Protection Act of 2018, which allows banks to consider
reciprocal deposits as core capital, or further interest rate
reductions that compress fee rates.

"The stable outlook reflects our expectation IntraFi will continue
its strong operating performance, such that net revenues increase
in the mid-single-digit percent area in 2021, S&P Global
Ratings-adjusted EBITDA margins approach 70%, and adjusted leverage
declines to the mid-7x area in 2022 and the mid-6x area in 2023,
from about 9x pro forma for the transaction."

S&P could lower its ratings if:

-- Operating performance deteriorates, resulting in FOCF deficits
or EBITDA to cash-interest coverage declining toward the low-1x
area. In this scenario, unexpected legislative changes as a result
of economic weakness, a banking crisis, or increased competition
results in reduced demand for deposits or deposit volumes, fee rate
compression, or a loss of large network members; or

-- Financial policy decisions consisting of debt-funded dividends
or acquisitions.

While unlikely given the company's history of leveraging
debt-funded dividends, S&P could raise the ratings if it takes a
more favorable view of IntraFi's business risk and expect leverage
will remain below 7x on a sustained basis, with FOCF to debt above
5%. In this scenario, S&P would expect:

-- A relatively favorable operating and regulatory environment to
support net revenue growth in the mid- to high-single-digit percent
area; and

-- S&P Global Ratings-adjusted EBITDA margins remaining in the
high-60%-70% range as a share of net revenues.



OPTION CARE: Expects to Report $33M-$36M Third Quarter Net Income
-----------------------------------------------------------------
Option Care Health, Inc. announced its preliminary financial
results for the third quarter ended Sept. 30, 2021.

For the third quarter, Option Care Health expects to report:

    * Net revenue of approximately $888 million to $893 million,
representing approximately 14% growth over the prior year third
quarter

    * Net income of approximately $33 million to $36 million

    * Adjusted EBITDA of approximately $76 million to $79 million,
representing approximately a 28% to 34% increase over the prior
year third quarter

    * Cash flow from operations of approximately $50 million to $52
million

    * Ending cash balance of approximately $200 million at Sept.
30, 2021

                     About Option Care Health

Option Care Health -- OptionCareHealth.com -- is an independent
provider of home and alternate site infusion services.  With over
5,000 teammates, including approximately 2,900 clinicians, the
Comopany works to elevate standards of care for patients with acute
and chronic conditions in all 50 states.

Option Care reported a net loss of $8.07 million for the year ended
Dec. 31, 2020, compared to a net loss of $75.92 million for the
year ended Dec. 31, 2019.  As of June 30, 2021, the Company had
$2.72 billion in total assets, $1.66 billion in total liabilities,
and $1.06 billion in total stockholders' equity.


OPTION CARE: Moody's Rates New Senior Unsecured Notes 'B3'
----------------------------------------------------------
Moody's Investors Service assigned a B3 rating to the new senior
unsecured notes being issued by Option Care Health, Inc. There are
no changes to Option Care's existing ratings including the B1
Corporate Family rating, B1-PD Probability of Default Rating, and
proposed Ba3 senior secured first lien term loan rating due in
2028. No change to the Speculative Grade Liquidity Rating, which
remains an SGL-1. The outlook remains stable. No change to the
existing B2 rating on the senior secured first lien term loan due
in 2026, to be withdrawn with the conclusion of the transaction.

Proceeds of the offering will be used to repay the existing first
lien term loan in conjunction with the previously announced new
first lien term loan and cash from the balance sheet. The B3 rating
on the proposed senior unsecured notes represents the junior
position of the notes in the capital structure. The proposed senior
secured term loan is secured by a first priority interest in
substantially all assets of the borrower and guarantors, other than
the ABL collateral. The term loan has a second lien on the ABL
collateral. The first lien facilities benefit from the loss
absorption provided by the proposed $500 million senior unsecured
notes. The notes have a second lien on all term loan collateral,
and a third lien on the ABL collateral.

Assignments:

Issuer: Option Care Health, Inc.

Senior Unsecured Regular Bond/Debenture, Assigned B3 (LGD5)

RATINGS RATIONALE

Option Care Health, Inc.'s ("Option Care") B1 CFR reflects the
company's market position as the largest independent infusion
provider with about $3.2 billion in revenue. Option Care is well
diversified by payor, therapy and geography. Further, the home
infusion services industry has favorable long-term dynamics as the
home is generally the lowest cost of care and is the patient's
preferred setting. This holds particularly true in the context of
the coronavirus pandemic as demand for home infusion is expected to
grow. Option Care continues to benefit from solid organic growth
and positive mix shift toward higher profit chronic therapies,
which have driven strong free cash flow generation. The rating also
reflects Option Care's moderate financial leverage, with pro forma
debt/EBITDA to be around 4.0x.

The B1 CFR reflects Option Care's competitive pressures stemming
from large, vertically integrated insurance companies that possess
their own home infusion providers and a challenging reimbursement
environment. Further, labor pressures are expected to continue for
the near to medium term, which could result in additional costs to
recruit and retain nursing staff. That said, Moody's views the
recent acquisition of Infinity Infusion Nursing, LLC as a positive
as it will further expand the Option Care's resources by adding
1,300 nurses nationwide.

The Speculative Grade Liquidity Rating of SGL-1 reflects Moody's
expectation of very good liquidity over the next 12-18 months.
Moody's expects that free cash flow will be consistently positive
over the next 12-18 months driven by a reduction in SG&A costs and
decline in interest expense following the refinancing. Liquidity is
also supported by $158 million of cash and a $175 million ABL
revolving credit facility (not rated), which was undrawn at June
30, 2021. Concurrently with this transaction, Option Care will be
extending its ABL for 5 more years. The company's term loan does
not have any financial covenants, but the ABL revolver contains a
springing fixed charge coverage covenant of 1.0x. The covenant is
only tested if the availability falls below 10% of the borrowing
base or $10 million or more.

The stable outlook reflects Moody's expectation that Option Care
will continue to de-lever as it scales its infrastructure and
continues to grow both organically and through modest tuck in
acquisitions.

ESG considerations are a factor in Option Care's ratings. Option
Care faces social risks such as the rising concerns around the
access and affordability of healthcare services. However, Moody's
does not consider home health/ home infusion to face the same level
of social risk as hospitals, as care at home is an affordable
alternative to hospitals or skilled nursing facilities. From a
governance perspective Moody's views the change in ownership as a
positive governance factor as Moody's expects Option Care to
operate with moderate leverage as a public company. Additionally,
the 21% minority ownership by Walgreens Boots Alliance, Inc. is
considered beneficial and can allow Option Care to continue to
benefit from its relationship with Walgreens.

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

Ratings could be upgraded if the company continues to successfully
execute its growth strategies, while also improving profitability.
Further, Option Care can be upgraded if leverage improves below
3.5x and the company continues to maintain conservative financial
policies and very strong liquidity.

The ratings could be downgraded if leverage is sustained over 4.5x,
profitability declines materially, or Option Care adopts more
aggressive financial policies, including material debt-financed
acquisitions, share repurchases or dividends.

Option Care is the leading independent provider of home and
alternate treatment site infusion therapy services through its
national network of 145 locations in 45 states. These services
involve the preparation, delivery, administration and monitoring of
medication for a broad range of conditions. These include
infections, malnutrition, heart failure, bleeding disorders,
autoimmune disorders, and a variety of other rare conditions.
Walgreens Boots Alliance, Inc. (minority owner) owns about 21% of
the combined public company. The other 79% of the company is
publicly owned by shareholders. Revenues are about $3.2 billion.

The principal methodology used in this rating was Business and
Consumer Service Industry published in October 2016.


OPTION CARE: To Offer $500M Senior Notes
----------------------------------------
Option Care Health, Inc. intends to offer $500 million in aggregate
principal amount of senior notes due 2029, subject to market and
other conditions.  Concurrently with the Offering, the Company
intends to amend or amend and restate its existing first lien term
loan B facility to provide for $600.0 million of refinancing
borrowings, to extend its maturity to 2028 and to make certain
other changes.

The Notes will be general senior unsecured obligations of the
Company and will be guaranteed on a senior unsecured basis by each
of the Company's wholly owned existing and future domestic
restricted subsidiaries that incurs or guarantees debt under the
Company's New First Lien Term Loan Facility.

The Company intends to use the proceeds from the Offering, together
with the New First Lien Term Loan Facility and cash on hand, to
refinance borrowings outstanding under the Existing First Lien Term
Loan Facility, and to pay fees and expenses in connection therewith
and with the Offering.

The Notes and related guarantees are being offered only to persons
reasonably believed to be qualified institutional buyers in
reliance on Rule 144A under the Securities Act of 1933, as amended,
and outside the United States, only to non-U.S. persons pursuant to
Regulation S.  The Notes and related guarantees will not be
registered under the Securities Act or any state securities laws
and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state laws.

                      About Option Care Health

Option Care Health -- OptionCareHealth.com -- is an independent
provider of home and alternate site infusion services.  With over
5,000 teammates, including approximately 2,900 clinicians, the
Comopany works to elevate standards of care for patients with acute
and chronic conditions in all 50 states.

Option Care reported a net loss of $8.07 million for the year ended
Dec. 31, 2020, compared to a net loss of $75.92 million for the
year ended Dec. 31, 2019.  As of June 30, 2021, the Company had
$2.72 billion in total assets, $1.66 billion in total liabilities,
and $1.06 billion in total stockholders' equity.


ORG GC MIDCO: GC Services Parent to File Prepack Case Nov. 8
------------------------------------------------------------
ORG GC Midco LLC has commenced the solicitation of votes from
holders of Claims in Class 3 (Existing Term Loan Claims), as of
Oct. 15, 2021 ("Voting Record Date"), on its Prepackaged Chapter 11
Plan.

ORG GC Midco is the only anticipated debtor in the Chapter 11 Case.
None of Company's subsidiaries including the Company's primary
operating entity, GC Services Limited Partnership, contemplate
filing for chapter 11 protection.

The Debtor said it intends to file a case under Chapter 11 of the
U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern
District of Texas on Nov. 8, 2021.  Upon commencement of the
Chapter 11 case, the Debtor will request a hearing on confirmation
of the plan and the adequacy of the disclosure statement to be held
before the Hon. Marvin Isgur, Courtroom 404, or Hon. David R.
Jones, Courtroom 400, of the U.S. Bankruptcy Court, Houston
Division, 515 Rusk Street, Houston, Texas 77002, on Nov. 22, 2021,
at 2:00 p.m. (Prevailing Central Time).

Objections to the confirmation of the plan, if any, must be filed
no later than 4:00 p.m. (Prevailing Central Time) on Nov 16, 2021.

According to the Debtor, it has reached an agreement-in-principle
with 100% of its existing term lenders regarding the terms of a
restructuring transaction as set forth in the restructuring support
agreement, which obligates the consenting lenders to vote to
approve the Debtor's prepackaged plan and support the Debtor's
restructuring.

The Plan provides for a restructuring of the Debtor that will
substantially deleverage its capital structure and reduce its
go-forward cash interest expense.  In addition, the Plan provides
for the satisfaction of all trade, customer and other non-funded
debt claims in full in the ordinary course of business.  The Debtor
noted that any valid alternative to confirmation of the plan would
result in significant delays, litigation, additional costs, and
would jeopardize recoveries for holders of allowed claims.

Copies of the plan and the disclosure statement may be obtained
free of charge at the Debtor's claims, noticing and voting agent,
Bankruptcy Management Solutions Inc. d/b/a Stretto at
https://cases.stretto.com/GCS or call the voting agent at
855-227-5501 (Toll Free) or 949-208-7629 (International) or sending
an electronic mail message to TeamGCS@Stretto.com with "GCS" in the
subject line.

A full-text copy of the Debtor's Chapter 11 Prepackage Plan is
available for free at https://tinyurl.com/k6u6h6dn

A full-text copy the Debtor's Disclosure Statement explaining its
Prepackage Plan is available for free at
https://tinyurl.com/2jyurpxy

ORG GC Midco LLC is a non-operating intermediate holding company.
Its primary source of revenue is derived through its second-tier
subsidiary and operating company, GC Services Limited Partnership,
which is a second-tier subsidiary of the Company.  GC Services is
one of North America's oldest and largest privately held providers
of Accounts Receivable Management and Business Process Outsourcing
solutions.


OXFORD FINANCE: Moody's Affirms Ba2 CFR, Outlook Remains Stable
---------------------------------------------------------------
Moody's Investors Service has affirmed Oxford Finance LLC's Ba2
Corporate Family Rating and Ba3 Senior Unsecured rating. Oxford's
outlook remains stable.

Affirmations:

Issuer: Oxford Finance LLC

Corporate Family Rating, Affirmed Ba2

Senior Unsecured Regular Bond/Debenture, Affirmed Ba3

Outlook Actions:

Issuer: Oxford Finance LLC

Outlook, Remains Stable

RATINGS RATIONALE

The affirmation of the ratings reflects Moody's view that Oxford's
credit profile continues to benefit from strong profitability and a
record of low credit losses. At the same time, the ratings continue
to reflect credit challenges posed by the company's high reliance
on secured financing facilities, increasing (although still modest)
leverage, and the competitive landscape in life sciences and
healthcare services lending in which the company operates, and key
person risk with respect to the firm's CEO.

Moody's said that Oxford has continued to perform well through the
past year, particularly compared to middle market lending peers
with higher exposures to pandemic-impacted sectors. Oxford's life
sciences and healthcare services borrowers have generally been able
to continue to execute business plans during the pandemic,
notwithstanding certain pressures on particular subsectors, such as
skilled nursing facilities, particularly during the first half of
2020.

The action also incorporates the modest increase in Oxford's
leverage, which now exceeds 3x as measured by debt (including
non-recourse secured financing and securitization facilities) to
equity. While this change presents an incremental risk to
creditors, this factor is offset by the firm's growing scale and a
portfolio including a higher proportion of cash flow and real
estate loans compared to the firm's traditional life sciences
loans, as the firm has continued to expand its product offerings in
recent years.

Oxford's Ba3 senior unsecured rating is a notch below its Ba2 CFR,
reflecting the lower priority of the senior unsecured notes versus
the company's senior secured commitments, and the relative amounts
outstanding under both tranches of debt.

The stable outlook reflects Moody's expectation that Oxford will
maintain stable profitability, leverage and asset quality in the
next 12-18 months.

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

The ratings could be upgraded if the company diversifies its
funding sources whereby secured debt to gross tangible assets falls
meaningfully below 35%, while maintaining profitability, capital
level and asset quality strength.

The ratings could be downgraded if the company's loan performance
suffers or its leverage as measured by the company's debt
(including non-recourse secured financing and securitization
facilities) to equity ratio increases and remains above 3.5x.
Negative ratings pressure could also emerge for the unsecured notes
if the firm's funding mix were to shift significantly toward
secured debt.

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



PATH MEDICAL: Wins Cash Collateral Access Thru Dec 31
-----------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida has
authorized Path Medical, LLC and Path Medical Center Holdings,
Inc., to use cash collateral on an interim basis from the Petition
Date through the Termination Date, to pay for the necessary
expenses and costs of administration incurred by the Debtors
pursuant to the budget, as may be modified from time to time.

A termination event will have occurred if, among other things, a
final cash collateral order has not been entered by the Court by
December 31, 2021.

The Court further ruled that:

   * the Debtors will at all times maintain liquidity in a minimum
amount of $125,000;

   * as, adequate protection, the lenders and Medley Capital LLC,
as Administrative Agent and Collateral Agent, are granted:

     a. valid and fully perfected first priority liens and/or
replacement liens on, and security interests in all of the
prepetition collateral and all postpetition assets of the Debtors
of the same type and nature, and the proceeds thereof;

     b. an allowed superpriority administrative expense claim to
the extent of the adequate protection obligations; and

     c. reimbursement by the Debtors of reasonable and documented
fees and expenses of the Agent, including the fees and expenses of
Winston & Strawn LLP and Meland Budwick, P.A., counsel to the
Agent.

The Debtors owed the Secured Parties at least $75,000,000, plus
interest, costs and attorney's fees, pursuant to the Credit
Agreement, the Guaranty and Security Agreement dated as of October
11, 2016, as amended.

A further hearing on the use of cash collateral is set for November
18 at 10 a.m.

A copy of the order is available for free at https://bit.ly/3b0yzkB
from PacerMonitor.com.

                        About Path Medical

Path Medical, LLC and Path Medical Center Holdings, Inc. filed
their voluntary petitions for Chapter 11 protection (Bankr. S.D.
Fla. Lead Case No. 21-18338) on Aug. 28, 2021.  Manual Fernandez,
chief executive officer, signed the petitions.  

At the time of filing, Path Medical listed $30,047,477 in assets
and $86,494,715 in liabilities while Path Medical Center listed
$220,060 in assets and $76,988,419 in liabilities.

Judge Scott M. Grossman oversees the case.

Brett Lieberman, Esq., at Edelboim Lieberman Revah Oshinsky, PLLC
represents the Debtors as legal counsel.




PHILIPPINE AIRLINES: Nov. 12 Hearing on Disclosures Set
-------------------------------------------------------
The Honorable Shelley C. Chapman of the United States Bankruptcy
Court for the Southern District of New York will convene a hearing
on Nov. 12, 2021 at 10:00 a.m. (prevailing Eastern Time), or as
soon thereafter as counsel may be heard, of Philippine Airlines,
Inc.'s motion for entry of an order:

    (A) approving the disclosure statement;
    (B) approving solicitation and voting procedures;
    (C) approving forms of ballots;
    (D) scheduling a confirmation hearing, and
    (E) establishing notice and objection procedures

The hearing will be conducted telephonically.  Any parties wishing
to participate must do so telephonically through CourtSolutions
(www.court-solutions.com).

Responses or objections, if any, to the Motion must be made in
writing, state with particularity the grounds therefor, and filed
so as to be received no later than 4:00 p.m. (prevailing Eastern
Time) on Nov. 5, 2021.

A full-text copy of the Disclosure Statement dated Oct. 14, 2021,
is available at https://bit.ly/3FY62u2 from Kurtzman Carson
Consultants, LLC, the claims agent.

                     About Philippine Airlines

Philippine Airlines, Inc., is the flag carrier of the Philippines
and the country's only full-service network airline. PAL was the
first commercial airline in Asia and marked its 80th anniversary in
March 2021. PAL's young fleet of Boeing 777s, Airbus A350s, Airbus
A330s, Airbus A321s and De Havilland DHC Q400 aircraft operate out
of hubs in Manila, Cebu and Davao to 29 destinations in the
Philippines and 32 destinations in Asia, North America, Australia,
Europe and the Middle East. PAL was rated a 4-Star Global Airline
by Skytrax in 2018 and a 5-Star Major Airline by the Association of
Airline Passengers (APEX) in 2020, and was likewise voted the
World's Most Improved Airline in the 2019 Skytrax worldwide
passenger survey with a ranking of 30th best airline in the world.

On Sept. 3, 2021, Philippine Airlines, Inc. (PAL) filed a voluntary
petition for relief under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. S.D.N.Y. Case No. 21-11569) to seek approval of a
restructuring plan negotiated with lenders and lessors.

As of July 31, 2021, the Debtor's overall assets and liabilities
were approximately $4.1 billion and $6.07 billion, respectively.

The Honorable Shelley C. Chapman is the case judge.

The Debtor tapped Debevoise & Plimpton LLP as general bankruptcy
counsel; Norton Rose Fulbright as special counsel; and Seabury
Securities LLC and Seabury International Corporate Finance LLC as
restructuring advisor and investment banker.  Angara Abello
Concepcion Regala & Cruz (ACCRA) is acting as legal advisor in the
Philippines.  Kurtzman Carson Consultants, LLC, is the claims and
noticing agent.

Buona Sorte Holdings, Inc. and PAL Holdings Inc., as DIP lenders,
are represented by White & Case LLP.


QUOTIENT LIMITED: CEO to Get $1M Under Amended Employment Contract
------------------------------------------------------------------
Quotient Limited amended its employment agreement with Manuel O.
Mendez, the company's chief executive officer, dated Feb. 23, 2021,
to provide for the cancellation of 181,159 of the company's
restricted stock units and 138,227 of the company's stock options
previously granted to Mr. Mendez.  In lieu thereof, the company
agreed to promptly pay to Mr. Mendez $1 million in cash, net of
social security and tax cost deductions, to further support his
relocation to Switzerland.

                      About Quotient Limited

Penicuik, United Kingdom-based Quotient Limited is a
commercial-stage diagnostics company committed to reducing
healthcare costs and improving patient care through the provision
of innovative tests within established markets.  With an initial
focus on blood grouping and serological disease screening, Quotient
is developing its proprietary MosaiQTM technology platform to offer
a breadth of tests that is unmatched by existing commercially
available transfusion diagnostic instrument platforms.  The
Company's operations are based in Edinburgh, Scotland; Eysins,
Switzerland and Newtown, Pennsylvania.

Quotient Limited reported a net loss of $108.47 million for the
year ended March 31, 2021, compared to a net loss of $102.77
million for the year ended March 31, 2020.  As of June 30, 2021,
the Company had $276.55 million in total assets, $328.24 million in
total liabilities, and a total shareholders' deficit of $51.70
million.


RANCHO CIELO: Disclosures Inadequate, Santa Fe Says
---------------------------------------------------
Santa Fe Fire Protection District claims that the Rancho Cielo
Estates, Ltd.'s Disclosure Statement fails to contain adequate
information for unsecured creditors and describes a Proposed Plan
that is non-confirmable, as a matter of law, .

Santa Fe claims that the Plan violates 11 U.S.C. Sec.1129(a)(9)(A).
Post-petition, the Rancho Santa Fe Fire Protection District
expended $39,500.00 to abate the fire hazards caused by Debtor's
failure to comply with Rancho Santa Fe Fire Protection District
Ordinances. The Rancho Santa Fe Fire Protection District is
entitled to an administrative expense. Under 11 U.S.C. Sec.
1129(a)(9)(A), the Debtor's Plan is required to provide cash equal
to the amount of the claim on the effective date of the Plan.
Under B.1., the Plan provides pro rata payment with the balance
paid 60 days after the Effective Date.

To make sure the Debtor completed certain improvements and
obligations imposed upon it as part of the approval of its project,
the County of San Diego required the Debtor to post a performance
bond.  The required improvements included responding to the needs
of the Fire District. The beneficiary of the bond is the County of
San Diego.  The Debtor proposes to unilaterally limit the liability
of the bonding company on the bond.  The Debtor lacks the legal
ability to take the County's property, which directly and adversely
harms the Rancho Santa Fe Fire Protection District.

The Debtor lists All in Removal Stockpile Removal with a claim of
$1,854,000 and states the claim is not contingent, unliquidated or
disputed.  This claim is 5 times larger than the total of all other
unsecured claims.  The Debtor did not disclose this claim in its
Disclosure Statement.

Attorney for Rancho Santa Fe Fire District:

     Bernard M. Hansen, Esq.
     3465 Camino Del Rio South, Suite 250
     San Diego, CA 92108-3905
     Tel: (619) 283-3371
     Fax: (619) 282-8900
     E-mail: bernardmhansen@sbcglobal.net

                  About Rancho Cielo Estates

Rancho Cielo Estates, LTD, based in Gardena, CA, filed a Chapter 11
petition (Bankr. C.D. Cal. Case No. 20-12306) on Feb. 29, 2020.  In
the petition signed by Peter Fagrell, president, the Debtor
disclosed $3,207,977 in assets and $142,576,987 in liabilities. The
Hon. Sheri Bluebond oversees the case.  Jeffrey S. Shinbrot, Esq.,
at Jeffrey S. Shinbrot, APLC, serves as bankruptcy counsel to the
Debtor.


REDWOOD EMPIRE: Interest Holders to Fund Plan
---------------------------------------------
Redwood Empire Lodging, LP, submitted a Chapter 11 Plan of
Reorganization and a Disclosure Statement.

The Plan will effectuate the Debtor's reorganization and allow the
Debtor to continue operating its business under a restructured
capital structure.  Among other things, the Plan provides for the
restructuring of the Debtor's debt obligations.  The Debtor
believes that, if the Plan is confirmed and implemented, the
Reorganized Debtor will be able to achieve success in its future
business operations.

As part of the Debtor's reorganization under the Plan, the Debtor's
interest holders will collectively provide funding and support to
facilitate the Plan's implementation.  This includes their New
Investment in the Reorganized Debtor on the Plan's Effective Date.

After emerging from bankruptcy, the Reorganized Debtor will
continue to operate its Hotels under reduced debt obligations.  The
Debtor's current property manager, Springboard, will continue to
manage the Hotels after the Plan's confirmation, under the
supervision of the Reorganized Debtor's principals.

The Debtor's assets primarily consist of the Hotels and the
personal property associated with the Hotels.

The Debtor believes that its outstanding unsecured indebtedness as
of the Petition Date was approximately $3,162,725.  Many of these
unsecured debts are owed to multiple Creditors and generally arise
from trade debts, services, and other obligations incurred in
connection with operating the Hotels.  However, the Debtor may be
liable to Mechanics Bank on a $2,200,000 unsecured loan arising
from a failed restaurant. Some or all of this amount may be assumed
and satisfied by an unrelated-third party who owns the restaurant.
If the Debtor is not released as part of that assumption, the
Mechanics Bank Claim, if allowed, will be treated as a General
Unsecured Claim in Class 9.  The Debtor also asserts that the S&K
Loan and the SBA Loan are also unsecured.  The holder of such
Allowed General Unsecured Claim in Class 9 will be paid a pro rata
share of each of the Creditor Fund Payments. Class 9 is impaired.

On the Effective Date, interest holders will contribute the New
Investment to the Reorganized Debtor.  Each of the interest holders
will fund the New Investment in proportion to the amount of their
respective ownership interests in the Debtor.  On the Effective
Date, the New Investment will be deposited into the Reorganized
Debtor's savings account and be used to fund the Reorganized
Debtor's payments owing under the Plan and the Reorganized Debtor's
general operations, as needed.  No Lien will attach to the New
Investment, regardless of where the Debtor or the Reorganized
Debtor deposits the funds.

Attorneys for Debtor:

     Isaac M. Gabriel, Esq.
     Jason D. Curry
     Michael Galen
     QUARLES & BRADY LLP
     Renaissance One
     Two North Central Avenue
     Phoenix, Arizona 85004-2391
     Tel: (602) 229-5200
     E-mail: isaac.gabriel@quarles.com
             jason.curry@quarles.com
             michael.galen@quarles.com

A copy of the Disclosure Statement dated Oct. 13, 2021, is
available at https://bit.ly/3vn5wkI from PacerMonitor.com.

                  About Redwood Empire Lodging

Redwood Empire Lodging, LP, owns and operates two hotels: the Best
Western Plus located at 208 N Lake Powell Boulevard, Page, Arizona
86040, and the Best Western Sonoma Winegrower's Inn, located at
6500 Redwood Drive, Rohnert Park, California 94928.

Redwood Empire Lodging sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 21-04678) on June
16, 2021.  In the petition signed by Debra Heckert, member, the
Debtor disclosed up to $50 million in both assets and liabilities.

Judge Eddward P. Ballinger Jr. is assigned to the case.

Isaac M. Gabriel, Esq., at Quarles & Brady LLP, is the Debtor's
counsel.


REGIONAL HOUSING: $2.3MM DIP Loan, Cash Collateral Access OK'd
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Georgia has
authorized Regional Housing & Community Services Corp. and its
debtor-affiliates, on a final basis, to use cash collateral and
obtain up to an aggregate amount of $2,350,000 of secured
postpetition financing from bondholders, Ecofin Direct Municipal
Opportunities Fund, LP (f/k/a Tortoise Direct Municipal
Opportunities Fund, LP) and Ecofin Tax-Advantaged Social Impact
Fund, Inc. in accordance with the budget.

The Court says funds advanced pursuant to the DIP Loan will accrue
interest at a rate of 7.5% per annum. No other fees will be
incurred in connection with the DIP Loan.  As security for the
repayment of the DIP Loan and the DIP Obligations, the Bondholders
are granted valid, binding, enforceable and perfected first
priority mortgages, pledges, liens and security interests assets of
the Debtors or the Debtors' estates.

The Debtors are authorized to use, as cash collateral, proceeds of
accounts and revenues from operations of the Debtors' senior living
facilities, except as permitted by the Debtors Default Period
Rights. Cash Collateral will include, without limitation, the
advances under the DIP Loan, but will not include any other funds
received by the Debtors during the proceeding, including but not
limited to funds received outside of the ordinary course of
business including from the sale of any of the facilities.

As adequate protection for any diminution in the value of its
collateral as a result of the DIP Loan or the use of Cash
Collateral by the Debtors, and solely to the extent of any
diminution, UMB Bank N.A. as Bond Trustee ,will continue to have
valid, binding, enforceable and perfected additional and
replacement mortgages, pledges, liens and security interests in all
Post-Petition Collateral.

As additional adequate protection, the Bond Trustee will have a
valid, perfected and enforceable continuing supplemental lien on,
and security interest in, all of the assets of the Debtors or the
Debtors' estates.

Moreover, the Bond Trustee will have a superpriority administrative
expense claim pursuant to Section 507(b) of the Bankruptcy Code
with recourse to and payable from any and all assets of the
Debtors' estates.

A copy of the final order is available for free at
https://bit.ly/3DVWuOp from Kurtzman Carson Consultants, claims and
balloting agent.

            About Regional Housing & Community Services

Regional Housing & Community Services Corp. and its affiliates
filed a voluntary petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ga. Case No. 21-41034) on Aug. 26,
2021, listing as much as $100,000 in both assets and liabilities.

Judge Paul W. Bonapfel oversees the cases.

The Debtor tapped Scroggins & Williamson, P.C. as legal counsel and
GGG Partners, LLC as interim management services provider. Kurtzman
Carson Consultants, LLC is the claims, noticing and balloting
agent.

Greenberg Traurig, LLP serves as counsel for UMB Bank, N.A., as
indenture trustee.



SAVI TECHNOLOGY: Seeks Access to Cash Collateral
------------------------------------------------
Savi Technology, Inc. asks the U.S. Bankruptcy Court for the
Eastern District of Virginia for the entry of a second interim
order approving the use of cash collateral.  Specifically, the
Debtor intends to use its accounts, including its receivables in
the normal course of its business and it represents that the use of
its accounts and receivables is essential to its continued
operation and its effective reorganization.

As of the Petition Date, the Debtor owed Eastward Fund Management,
LLC $5,000,000 in original principal amount on account of a Master
Lease Agreement dated November 5, 2018.  The Loan Documents
provided that the money lent would be secured by a lien on
substantially all of the Debtor's assets.  Eastward, thereafter,
filed a UCC-1 Financing Statement in order to perfect its lien.  

The Debtor proposes to use Cash Collateral for general corporate
purposes, such as operating costs and payment of its normal
operating expenses. The Debtor represents that the use of its Cash
Collateral is essential to its continued operation and its
effective reorganization.

The Debtor's use of Cash Collateral will terminate for a period of
90 days as stated in the Interim Order.

The Debtor and Eastward have agreed on replacement liens and
adequate protection payments.

A copy of the Debtor's motion is available for free at
https://bit.ly/3jp8v7r from PacerMonitor.com.

                    About Savi Technology, Inc.

Savi Technology, Inc. -- https://www.savi.com/ -- is an innovator
in supply chain visibility and sensor technology, providing
real-time information about the location, condition and security of
in-transit goods and assets.  The company sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va. Case No.
21-11369) on August 4, 2021.

On the Petition Date, the Debtor estimated $1 million to $10
million in assets and $10 million to $50 million in liabilities.
The petition was signed by Rosemary Johnston as acting president
and CEO.  

Shulman, Rogers, Gandal, Pordy & Ecker, P.A. serves the Debtor's
counsel.

Eastward Fund Management, LLC, as lender, is represented by Richard
E. Hagerty, Esq. at Troutman Pepper Hamilton Sanders LLP.



SEAFOOD JUNKIE: Wins Cash Collateral Access Thru Nov 9
------------------------------------------------------
The U.S. Bankruptcy Court for the District of Colorado has
authorized Seafood Junkie LLC, d/b/a Manzo Lobster & Oyster Bar to
use cash collateral in accordance with the budget, with a 20%
variance.

The Debtor's only secured debt is $23,942 owed to WebBank located
in Salt Lake City, Utah. WebBank holds a UCC-1 financing statement
on accounts and receivables, filed at Reception No. 20212082554 on
August 25, 2021.

The Debtor intends to use a portion of the cash, rents, income,
offspring, products, proceeds and profits in its business
operations which constitute Cash Collateral under Section 363(a) of
the Bankruptcy Code. Certain prepetition rents, income, offspring,
products, proceeds and profits, in existence as of the Petition
Date, including balances of funds in the Debtor's prepetition and
post petition operating bank accounts, constitute Cash Collateral
as well.

To the extent the Secured Lender has a valid and properly perfected
liens on the Debtor's assets, the Secured Lender is granted a
replacement lien on all post-petition Cash Collateral in order for
the Debtor to continue to operate to the extent that there is a
decrease in value of the Secured Lender's interest in the Cash
Collateral in the same extent and priority that existed on the
Petition Date.

The Debtor's right to use the Cash Collateral will terminate on the
earlier of:

     a. November 19, 2021;

     b. the Debtor's failure to make any of the Adequate Protection
Obligations to the Secured Lender or otherwise cure such payments
after seven days' written notice;

     c. the Court's appointment of a chapter 11 trustee or examiner
under 11 U.S.C. section 1104;

     d. conversion of the Debtor's chapter 11 case to a chapter 7
case;

     e. the Debtor's failure to comply with the requirements set
forth in the order;

     f. a material adverse change in the Debtor's financial
condition or business operations;

     g. confirmation of a Chapter 11 Plan of Reorganization; or

     i. written stipulation of the Debtor and the Secured Lender.

A final hearing on the matter is scheduled for November 9 at 10:30
a.m.

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

                     About Seafood Junkie LLC

Seafood Junkie LLC operates a restaurant known as Manzo's Lobster
and Oyster Bar located in Denver.  The company filed a petition
under Subchapter V of Chapter 11 of the Bankruptcy Code (Bankr. D.
Colo. Case No. 21-15217) on October 14, 2021, listing $50,000 to
$100,000 in assets and $100,000 to $500,000 in liabilities. Richard
Manzo, member, signed the petition.  

Judge Thomas B. McNamara presides over the case.  

Buechler Law Office, L.L.C. serves as the Debtor's counsel.



SHASTRA USA: Seeks Approval to Hire Mahdavi as Bankruptcy Counsel
-----------------------------------------------------------------
Shastra USA, Inc. seeks approval from the U.S. Bankruptcy Court for
the Eastern District of Virginia to employ Mahdavi Bacon Halfhill &
Young, PLLC to handle its Chapter 11 case.

Matthew Williams, Esq., the firm's attorney who will be providing
the services, will bill $325 per hour.

Mr. Williams 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 through:

     Matthew G. Williams, Esq.
     Mahdavi Bacon Halfhill & Young, PLLC
     11350 Random Hills Road, Suite 700
     Fairfax, VA 22030
     Tel: 703-352-1300
     Email: mwilliams@mbhylaw.com

                    About Shastra USA, Inc.

Shastra USA, Inc., an Alexandria, Va.-based security services
provider, filed its voluntary petition for Chapter 11 protection
(Bankr. E.D. Va. Case No. 21-11740) on Oct. 18, 2021, listing up to
$500,000 in assets and up to $10 million in liabilities.  Jayasekar
Jayaraman, president of Shastra USA, signed the petition.  Matthew
G. Williams, Esq., at Mahdavi Bacon Halfhill & Young, PLLC
represents the Debtor as legal counsel.


SPEED INDUSTRIAL: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Speed Industrial Gas, LLC
        1003 Brussels St.
        San Antonio, TX 78219

Business Description: Speed Industrial Gas, LLC offers welding
                      supplies, industrial & specialty gas
                      products.

Chapter 11 Petition Date: October 22, 2021

Court: United States Bankruptcy Court
       Western District of Texas

Case No.: 21-51297

Debtor's Counsel: Lloyd A. Lim, Esq.
                  BALCH & BINGHAM LLP
                  811 Louisiana St. Suite 1010
                  Houston, TX 77002
                  Tel: 713-362-2557
                  E-mail: llim@balch.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ernest W. ("Cotton") Speed, III,
owner/sole member.

The Debtor failed to include in the petition a list of its 20
largest unsecured creditors.

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

https://www.pacermonitor.com/view/CRGMFRA/Speed_Industrial_Gas_LLC__txwbke-21-51297__0001.0.pdf?mcid=tGE4TAMA


STONEWAY CAPITAL: GRM Energy Joins Affiliates in Chapter 11
-----------------------------------------------------------
GRM Energy Investment Ltd. filed for Chapter 11 bankruptcy
protection on Oct. 21, 2021 (Bankr. S.D.N.Y. Case No.
1:21-bk-11809).

The Debtor estimated assets of $500 million to $1 billion and
liabilities of at least $1 billion.

GRM is the non-debtor parent of Stoneway Capital Ltd. and the
limited partner of Stoneway Group LP ("SGLP").

GRM Energy is an affiliate of Stoneway Capital Corp., which sought
bankruptcy protection in April 2021.  GRM Energy has sought joint
administration of its case with the jointly administered cases of
Stoneway Capital, et al.

                  About Stoneway Capital Corp.

Stoneway Capital Corporation is a limited corporation incorporated
in New Brunswick, Canada, formed for the purpose of owning and
operating, through its Argentine subsidiaries, power generation
projects that will provide electricity to the wholesale electricity
markets in Argentina.  The Argentine subsidiaries operate four
power-generating plants in Argentina that provide electricity to
the wholesale electricity market in Argentina.

Stoneway is 100% owned by GRM Energy Investment Limited.

On Oct. 8, 2020, the Company commenced proceedings under the
Canada
Business Corporations Act (the "CBCA").  The Debtors were well on
the way toward closing the consensual restructuring when on Dec.
4,
2020, the Argentine Supreme Court issued a decision in an ongoing
noise discharge dispute involving one of the Generation Facilities
located in Pilar, Argentina. The Argentine Supreme Court Decision
created significant uncertainty as it overturned a decision of the
federal appeals court in San Martin, Buenos Aires.

As a result of the looming expiration of the informal standstill
arrangement, the Debtors commenced chapter 11 cases in the U.S. in
order to put the automatic stay in place, maintain the status quo
pending resolution of the various issues in Argentina, and ensure
that neither the Indenture Trustee nor the Argentine Trustee takes
any action that could be detrimental or value destructive to the
Company.

Stoneway Capital Ltd. and five related entities, including Stoneway
Capital Corp., sought Chapter 11 bankruptcy protection (Bankr.
S.D.N.Y. Case No. 21-10646) on April 7, 2021.  Stoneway estimated
liabilities of $1 billion to $10 billion and assets of $500
million
to $1 billion.

Judge James L. Garrity, Jr. oversees the cases.

The Debtors tapped Shearman & Sterling LLP as bankruptcy counsel,
Bennett Jones LLP as Canadian counsel, Lazard Freres & Co. LLC as
investment banker, and RSM Canada LLP as tax services provider.
Prime Clerk, LLC is the claims agent and administrative advisor.



SUMMIT MIDSTREAM: Units Price Private Offering of $700M Sr. Notes
-----------------------------------------------------------------
Summit Midstream Partners, LP announced that Summit Midstream
Holdings, LLC, a Delaware limited liability company, and Summit
Midstream Finance Corp., a Delaware corporation, which are
subsidiaries of the Partnership, priced a private offering of
$700,000,000 aggregate principal amount of 8.50% Senior Secured
Second Lien Notes due 2026 at a price of 98.5% of their face value.


The Notes will pay interest semi-annually on April 15 and October
15 of each year, commencing on April 15, 2022, and will be jointly
and severally guaranteed, on a senior second-priority secured
basis, by the Partnership and each restricted subsidiary of the
Partnership (other than the Co-Issuers) that is an obligor under
the credit agreement by and among Summit Holdings, as borrower,
Bank of America, N.A., administrative agent and trustee and the
several lenders and other agents party thereto, which Summit
Holdings expects to enter into on or about the date on which the
Notes are issued, or under the Co-Issuers' 5.75% Senior Notes due
2025 on the issue date of the Notes.

The Notes will mature on Oct. 15, 2026; provided that, if the
outstanding amount of the 2025 Notes is greater than or equal to
$50.0 million on Jan. 14, 2025, which is 91 days prior to the
scheduled maturity date of the 2025 Notes, then the Notes will
mature on Jan. 14, 2025.  The Offering is expected to close on
Nov. 2, 2021, subject to customary closing conditions.

The Co-Issuers intend to use the net proceeds from the Offering,
together with cash on hand and borrowings under the ABL Credit
Agreement to (i) repay in full all of Summit Holdings' obligations
under the Third Amended and Restated Credit Agreement, dated as of
May 26, 2017 (as amended or otherwise modified from time to time),
among Summit Holdings, the lenders from time to time party thereto
and Wells Fargo Bank, National Association, as administrative agent
and collateral agent, (ii) fund the previously announced
conditional redemption of all of the $234,047,000 in aggregate
principal amount outstanding of the Co-Issuers' 5.50% Senior Notes
due 2022, (iii) pay accrued and unpaid interest on the Revolving
Credit Facility and 2022 Notes and (iv) for general corporate
purposes, including fees and expenses associated with the
Offering.

The Co-Issuers intend to redeem all of the 2022 Notes at a
redemption price equal to 100.0% of the principal amount of the
2022 Notes, plus accrued and unpaid interest on Nov. 12, 2021.  The
Co-Issuers expect net cash proceeds from the Offering, together
with cash on hand and borrowings under the ABL Credit Agreement,
after repayment of the Revolving Credit Facility, to be sufficient
to pay the redemption price, all accrued and unpaid interest and
all other amounts owing under the indenture governing the 2022
Notes.

The Notes and related guarantees are being offered only to persons
reasonably believed to be qualified institutional buyers in
reliance on Rule 144A under the Securities Act of 1933, as amended,
or to persons other than "U.S. persons" outside the United States
in compliance with Regulation S under the Securities Act.  The
Notes and related guarantees have not been registered under the
Securities Act or the securities laws of any other jurisdiction and
may not be offered or sold in the United States absent registration
or an applicable exemption from the registration requirements.

                       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 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.

As reported by the TCR on Oct. 15, 2021, S&P Global Ratings raised
its issuer credit rating on Summit Midstream Partners L.P. (SMLP)
to 'B' from 'SD' (selective default).  S&P said, "Over the last two
years SMLP has completed several transactions that reduced its debt
balance by approximately $700 million.  In our view, it completed
the majority of these transactions at distressed levels, which led
us to take negative rating actions on the company.  Despite our
downgrades, we recognize that these transactions reshaped SMLP's
balance sheet and ultimately positioned it to refinance its 2022
maturities.  We now view the partnership as better capitalized and
anticipate it will focus on paying down its debt balance with
excess free cash flow."

                             *   *   *

This concludes the Troubled Company Reporter's coverage of Summit
Midstream until facts and circumstances, if any, emerge that
demonstrate financial or operational strain or difficulty at a
level sufficient to warrant renewed coverage.


SUNSHINE ADULT: Plan & Disclosures Deadline Extended to Jan. 15
---------------------------------------------------------------
Judge Jil Mazer-Marino has entered an order extending Sunshine
Adult Social Center, Corp.'s time to file a Chapter 11 Plan of
Reorganization and Disclosure statement to and including Jan. 15,
2022.

                About Sunshine Adult Social Center

Sunshine Adult Social Center sought protection for relief under
Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No.
20-44231) on Dec. 9, 2020, disclosing $50,001 to $100,000 in assets
and $100,001 to $500,000 in liabilities.  

Judge Jil Mazer-Marino oversees the case.

The Debtor tapped the Law Offices of Alla Kachan as its legal
counsel and Wisdom Professional Services Inc. as its accountant.


TELIGENT INC: Cash Collateral Access, DIP Loans OK'd
----------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has an
authorized Teligent, Inc. and affiliates to obtain on an interim
basis:

     a. a postpetition senior secured debtor-in-possession
asset-based revolving credit facility in an aggregate principal
amount of up to $6,000,000, consisting of new money revolving loans
of which $3,000,000 of the DIP Revolving Loans will be available
upon the entry of the Interim Order;

     b. a postpetition senior secured term loan facility pari passu
in priority to the DIP Revolving Credit Facility consisting of
rolled-up loans under the Prepetition First Lien Credit Facility,
as further described in the DIP Revolving Credit Agreement, held by
the Prepetition First Lien Lenders into the DIP Senior Term Loan
Facility in an aggregate principal amount of $15,000,000, plus
accrued and unpaid interest and all other Prepetition First Lien
Obligations;

     c. a postpetition senior secured term loan facility junior
only to the DIP Revolving Credit Facility, the DIP Senior Term Loan
Facility, the First Lien Adequate Protection Obligations, and the
Prepetition First Lien Obligations provided by certain Prepetition
Second Lien Lenders consisting of up to $6,000,000 in new money
term loans of which $3,000,000 of the DIP Junior New Money Term
Loans will be available upon the entry of the Interim Order;

     d. subject to the entry of the Final Order, a postpetition
senior secured term loan facility pari passu in priority to the DIP
Junior New Money Term Loan Facility and junior only to the DIP
Revolving Credit Facility, the DIP Senior Term Loan Facility, the
First Lien Adequate Protection Obligations, and the Prepetition
First Lien Obligations consisting of rolled-up loans under the
Prepetition Second Lien Credit Facility, as further described in
the DIP Credit Agreement, held by the Prepetition Second Lien
Lenders into the DIP Junior Term Loan Facility in an aggregate
principal amount of $18,000,000, plus accrued and unpaid interest
thereon.

The Debtors have an immediate need to obtain the DIP Facilities and
use the Cash Collateral in each case on an interim basis, in order
to, among other things, (i) permit the orderly continuation of
their respective businesses, (ii) maintain business relationships
with their vendors, suppliers, regulators, customers and other
parties, (iii) make payroll, (iv) to repay in full any amounts
outstanding under the Prepetition First Lien Credit Facility with
the proceeds of the DIP Senior Term Loans, (v) make adequate
protection payments, (vi) pay the costs of the administration of
the Chapter 11 Cases, including a process for the sale of the
Debtors' assets, and (vii) satisfy other working capital and
general corporate purposes of the Debtors.

As of the Petition Date, the Debtors were jointly and severally
indebted and liable to the Prepetition First Lien Parties under the
Prepetition First Lien Credit Documents in the aggregate amount of
not less than $16,441,527, which consists of approximately
$15,000,000 in aggregate principal amount of revolving loans and
issued and undrawn letters of credit, plus accrued and unpaid
interest and fees thereon as of the Petition Date.  ACF Finco I LP,
serves as administrative agent and collateral agent under the First
Lien Credit Agreement.

As of the Petition Date, the Debtors were jointly and severally
indebted and liable to the Prepetition Second Lien Parties under
the Prepetition Second Lien Credit Documents in the aggregate
principal amount of not less than $89,823,754.60 of term loans
advanced under the Prepetition Second Lien Credit Agreement, plus
accrued and unpaid interest thereon as of the Petition Date.  Ares
Capital Corporation serves as administrative and collateral agent
under the Second Lien Credit Agreement.

Upon entry of the Final DIP Order, $18,000,000 in principal of
Prepetition Second Lien Obligations held by the Roll-Up Second Lien
Lenders will immediately, automatically, and irrevocably be deemed
to have been converted into Roll-Up Second Lien Obligations and
will be entitled to all the priorities, privileges, rights, and
other benefits set forth in the Interim Order and the Final Order.
However, interest on the Roll-Up Second Lien Obligations will
accrue and be paid-in-kind in accordance with the terms of the DIP
Credit Agreement.

As adequate protection for the Debtor's use of cash collateral, the
Prepetition First Lien Lenders and Prepetition Second Lien Lenders
are granted additional and replacement valid, binding, enforceable
non-avoidable, and effective and automatically perfected
postpetition security interests in, and liens on the Debtor's
assets.

As further adequate protection, an allowed administrative expense
claim in the Chapter 11 Cases to the extent of any postpetition
Diminution in Value ahead of and senior to any and all other
administrative expense claims in such Chapter 11 Case.

The final hearing on the matter is scheduled for November 9, 2021
at 10 a.m.

A copy of the order is available at https://bit.ly/3aR07ZK from
PacerMonitor.com.

                         About Teligent Inc.

Teligent, Inc., a specialty generic pharmaceutical company,
develops, manufactures, markets, and sells generic topical, branded
generic, and generic injectable pharmaceutical products in the
United States and Canada. The company was formerly known as IGI
Laboratories, Inc. and changed its name to Teligent, Inc. in
October 2015. Teligent, Inc. was founded in 1977 and is based in
Buena, New Jersey.

Teligent Inc. and three affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 21-11332) on Oct. 14, 2021.  The
cases are handled by Honorable Judge Brendan Linehan Shanno.

The Debtor disclosed total assets of $85.0 million and total debt
of $135.8 million as of Aug. 31, 2021.

Young Conaway Stargatt & Taylor, LLP and K&L Gates LLP are the
Debtors' attorneys.  Portage Point Partners, LLC, is the Debtors'
restructuring advisor.  Raymond James & Associates, Inc., is the
Debtors' investment banker.  Epiq Corporate Restructuring, LLC, is
the claims agent.



TEXAS TAXI: Seeks Approval to Hire Doeren Mayhew as Accountant
--------------------------------------------------------------
Texas Taxi, Inc. and its affiliates seek approval from the U.S.
Bankruptcy Court for Southern District of Texas to hire Doeren
Mayhew P.C. as its accountant.

The firm's services include the preparation of tax returns, sales
tax audit support and monthly operating reports, and general
accounting services.

The firm's hourly rates are as follows:

     Juan Padilla, Shareholder     $510 per hour
     Shareholder                   $510 per hour
     Senior Manager                $375 per hour
     Manager                       $325 per hour
     Senior Associate              $250 per hour
     Associate                     $180 per hour
     Accountant                    $180 per hour
     Administrative                $110 per hour

Juan Padilla, a shareholder of Doeren Mayhew, disclosed in court
filings that his firm neither holds nor represents any interest
adverse to the Debtors and their estates.

The firm can be reached through:

     Juan Padilla, CPA
     Doeren Mayhew P.C.
     755 West Big Beaver Road Suite 2300
     Troy, MI 48084
     Phone: 248-244-3000
     Email: padilla@doeren.com

                          About Texas Taxi

Texas Taxi, Inc., is a company based in Houston, Texas, with a
50-year history of providing transportation services to customers.
Texas Taxi was founded initially to provide transportation services
to the Greater Houston area and later expanded its services to
Austin, San Antonio and Pasadena.  Texas Taxi was formed in August
2003 to acquire the Greater Houston Transportation Company (GHTC),
Greater Austin Transportation Company and ultimately Greater San
Antonio Transportation Company.  Each operated as "Yellow Cab" in
their respective jurisdictions.  Texas Taxi also acquired Fiesta
Cab Company, which was focused on serving Spanish-speaking
passenger customers.

Texas Taxi and its affiliates sought Chapter 11 protection (Bankr.
S.D. Texas Lead Case No. 21-60065) on July 19, 2021.  At the time
of the filing, Texas Taxi listed up to $50,000 in assets and up to
$10 million in liabilities.   The Hon. Christopher M. Lopez is the
case judge.   

Fuqua & Associates, PC and Doeren Mayhew P.C. serve as the Debtors'
legal counsel and accountant, respectively.   

Jackson Walker, L.L.P. represents Notre Capital Management, Inc.,
secured creditor.


TOWER HEALTH: Fitch Affirms 'B+' LT IDR & Alters Outlook to Stable
------------------------------------------------------------------
Fitch Ratings has affirmed Tower Health System's, PA (Tower Health)
Long-Term Issuer Default Rating (IDR) and the bond rating on the
following bonds issued by, or on behalf of, Tower at 'B+':

-- $160,065,000 The Berks County Municipal Authority (Reading
    Hospital & Medical Center Project) series 2012A;

-- $590,500,000 The Berks County Industrial Development Authority
    revenue bonds series 2017;

-- $44,660,000 The Berks County Municipal Authority fixed rate
    revenue bonds series 2020A;

-- $64,565,000 The Berks County Municipal Authority fixed rate
    revenue put bonds series 2020B-1;

-- $82,450,000 The Berks County Municipal Authority fixed rate
    revenue put bonds series 2020B-2;

-- $72,920,000 The Berks County Municipal Authority fixed rate
    revenue put bonds series 2020B-3;

-- $190,720,000 Tower Health taxable fixed rate revenue bonds
    series 2020.

The Rating Outlook has been revised to Stable from Negative.

SECURITY

The bonds are secured by a pledge of gross revenues of the
obligated group (OG). The OG consists of Tower Health, Reading
Hospital and the five acquired CHS hospitals. The OG does not
include St. Christopher's Hospital for Children or the Tower Health
Medical Group. All Tower debt is fixed rate.

ANALYTICAL CONCLUSION

The Rating Outlook revision to Stable reflects the Tower Health's
material improvement, albeit still negative, on operating income
levels, combined with meaningful steps by senior management to
divest of underperforming assets and place Tower on a more
strategically viable path going forward.

The 'B+' rating continues to reflect Tower's ongoing financial
losses, which while improved in fiscal 2021 (unaudited YE results
through June 30, 2021), with operational improvement initiatives
resulting in an operating loss of $243.5 million, are far superior
compared to the prior year's combined operating losses of over
$415.3 million in fiscal 2020. These losses, while materially
improved, are still not viewed by Fitch as sustainable past the
near- to intermediate-term, particularly given Tower's leverage
position, which remains very weak with unrestricted cash to debt at
just 32%.

Tower has, however, recently announced multiple strategic decisions
that, in Fitch's opinion, begin to address fundamental structural
issues that have weighed the organization down the last several
years. The initiatives include a July 30, 2021 announcement to form
an exploration process to chart a path forward in establishing a
strategic alliance with Penn Medicine. While non-binding, the two
organizations have already proceeded with the relocation of Tower's
transplant program (which was acquired from Hahnemann) to Penn
Medicine in a re-branded relationship now called the Penn Medicine
Transplant Institute. In addition to the potentiality of additional
collaboration with Penn Medicine, Tower Health, in a Sept. 28, 2021
announcement, indicated that the Tower Health Board has signed a
non-binding Letter of Intent (LOI) to plan for the transfer of
ownership of Chestnut Hill Hospital, along with 19 urgent care
centers, to Trinity Health (Mid-Atlantic). In addition to the
Chestnut Hill transfer, Tower announced the decision to begin the
process to close the Jennersville Hospital effective Jan. 1, 2022.
While no further LOI's were announced, the press release also
indicates Tower Health's desire to look for long-term strategic
solutions both St. Christopher's Hospital for Children and
Brandywine Hospital.

Fitch views Tower's intent to begin exiting underperforming assets,
particularly when combined with the affiliation strategy with Penn
Medicine, as a positive development in the credit profile for
longer-term operational success. Fitch expects further progress and
stabilization of both Tower Health's operations and strategy, over
the several months and quarters.

KEY RATING DRIVERS

Revenue Defensibility: 'bbb'

Leading Inpatient Market Share

Tower's revenue defensibility remains 'mid-range' and reflects its
leading inpatient market share in its primary service area (PSA) of
Reading, Pennsylvania of around 44%, including the counties of
Berks, Montgomery, Chester and the northwest portion of the city of
Philadelphia. A demographically strong population in the immediate
service area has only moderate levels of Medicaid and self-pay
payor mix of around 19% in 2021, well below Fitch's threshold of
25% and consistent with the prior year. Recent announcements and
potential future divestitures will impact Tower's market-share over
the medium term to an undetermined level, but Fitch does not
believe this will negatively impact Tower's revenue defensibility
assessment.

Tower's inpatient service area of Reading and surrounding markets
is growing and demographically favorable compared with state and
national levels. Based on U.S. Census Bureau and U.S. Bureau of
Labor Statistics data, population growth trends and median
household income levels in Berks, Chester and Montgomery Counties
are better than both state and national averages. Similarly, the
unemployment rate is below the state and national averages. Fitch
believes there is no immediate threat of payor mix deterioration in
the near term.

Operating Risk: 'b'

Operational Losses Improving; Additional Progress Needed

Tower's operating risk profile assessment is considered 'weak'
based on the system's negative operating EBITDA margin at fiscal
2021 (unaudited year-end results), despite the meaningful
improvement over fiscal 2020's YE results. Financial disruption in
both fiscal 2020 and fiscal 2021 can be attributed to the residual
CMP integration difficulties, to the impact of the coronavirus
pandemic, and to volume challenges which while continuing to
improve, hampered the organization's ability to reach break-even in
the first three quarters of fiscal 2021. Tower's financials showed
a sizeable loss in fiscal 2021, despite significant expense
mitigation efforts (including staffing furloughs and even FTE
reductions) of $243.5 million (as calculated by Fitch, and not
accounting for non-controlling interests). Operational losses
remain at all of the CMP hospitals and most significantly at St.
Christopher's and the Tower Health Medical Group.

Fitch expects improvement in operating EBITDA margins over the
longer term; with good short-term improvement seen in fiscal 2021,
but still significant improvements needed in order to produce
break-even operating results on a consistent basis. Recently
announced partnerships, divestitures and closures should go a
long-way towards improving and stabilizing Tower's operational
performance.

Tower's capital spending requirements are necessarily curtailed at
this time. Given Tower's strong market share, the average age of
plant is adequate at approximately 12 years, and the system has
spent 125% of annual depreciation over the last four audited years.
Fitch expects that the system will spend about $400 million of
capital between fiscal 2021 and fiscal 2025, or about $80 million
per year on average. This is effectively minimal spending for only
necessary capital (break/fix or coronavirus related), and could
fluctuate with partnerships and divestitures, but Fitch expects
capital spending to grow over time as operational performance
improves.

Financial Profile: 'b'

Liquidity Cushion Shows Some Weakening; Further Deterioration
Possible

Tower's leverage and liquidity position remains weak, even for the
low rating category, and until operational issues and
non-performing assets are successfully resolved, negative pressure
will remain.

Tower had approximately $1.58 billion of total debt outstanding at
unaudited fiscal year-end 2021, which includes long term bond debt,
short-term notes and new operating lease accounting treatment. At
YE 2021, the system had $552 million of unrestricted cash and
investments; Fitch excludes approximately $149 million in the form
of advanced Medicare payments. This compares unfavorably to fiscal
2020's unrestricted cash and investments of $723 million (not
including approximately $173 million in advanced Medicare
payments).

Adjusted debt includes an unfunded pension liability of
approximately $148 million based on fiscal 2020's audited pension
liability up to the 80% funding level. The system's net adjusted
debt position (adjusted debt minus unrestricted cash and
investments) in fiscal 2021 is elevated at $1.18 billion, which
translates to cash-to-adjusted debt of about 32%.

Through the base scenario, or best estimate of the most likely
scenario of financial performance over the next five years given
the current economic environment and Fitch's expectations of
Tower's operating performance, Fitch expects that Tower will see
slow but gradual operational improvement after another challenging
year in fiscal 2021. Improved cash flow, along with additional
strategic changes (e.g, additional divestitures of underperforming
assets) should lead to notable improvement in cash-to-debt leverage
ratios.

Tower's Environmental, Social and Governance (ESG) Relevance Score
has improved to '4' for Management Strategy due to both improvement
in short term operations, but more importantly, material steps
announced to return Tower Health to longer term operational
viability through a potential affiliation with Penn Medicine.
Furthermore, the Tower Board made strategic decisions to replace
key executive personnel with outside individuals in an effort to
improve upon prior strategic decisions which brought multiple years
of operating losses and declining liquidity levels to the
organization.

Asymmetric Additional Risk Considerations

No asymmetric risk considerations were considered in this rating
determination.

RATING SENSITIVITIES

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

-- Continued operating improvement that begin to translate into
    higher operating and operating EBITDA margins over the near
    term;

-- Additional long-term solutions for underperforming assets
    (e.g, divestitures, mergers) that result in operational
    improvement and gradual balance sheet accretion;

-- Balance sheet accretion or debt reduction such that cash to
    debt rises above 40%.

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

-- Inability to realize a 6% operating EBITDA margin trajectory
    over the next year;

-- Balance sheet dilution from either incremental debt or capital
    spending, such that cash to adjusted debt falls to and remains
    at levels below 30%, approximately $500 million (minus advance
    payments).

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Sovereigns, Public Finance
and Infrastructure 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 three 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.

As of Oct. 1, 2017, Reading Health System was renamed Tower Health.
Concurrent with the rebranding, Tower acquired five acute care
hospitals from CHS (Brandywine Hospital in Coatesville, Chestnut
Hill Hospital in Philadelphia, Jennersville Regional Hospital in
West Grove, Phoenixville Hospital in Phoenixville, and Pottstown
Memorial Medical Center in Pottstown), which added 753 beds, and
referred to as the CMP Hospitals. Tower currently consists of six
acute care hospitals (1,468 licensed beds), Tower Health Medical
Group and a foundation, as well as numerous other non-obligated
affiliates. Tower had approximately $2.2 billion in revenues in
fiscal 2021.

Four of the five acquired entities are located in Chester and
Montgomery Counties, between the Reading Hospital campus and
Northwestern Philadelphia. Chestnut Hill Hospital is located in
Philadelphia. The acquisition significantly expanded Tower's PSA
allowing it to serve a larger population. The transaction increased
Tower's revenue base by over 60% and positioned the organization
for population health and value-based payment arrangements.

Additional Notes

On Feb. 22, 2021, Sue Perrotty replaced Clint Matthews as President
and CEO of Tower Health, and has committed to seeing Tower Health
through its current transformation. In addition, on Feb. 19, 2021,
Gary Conner, the Chief Financial Officer, resigned from his
position, and more recently, Treasurer Sean O'Connell resigned and
Warbird Consulting Partners has been retained to fill this role on
an interim basis.

ESG CONSIDERATIONS

Tower's Environmental, Social and Governance (ESG) Relevance Score
has improved to '4' for Management Strategy due to both improvement
in short-term operations, but more importantly, material steps
announced to return Tower Health to longer term operational
viability through a potential affiliation with Penn Medicine.
Furthermore, the Tower Board made strategic decisions to replace
key executive personnel with outside individuals in an effort to
improve upon prior strategic decisions which brought multiple years
of operating losses and declining liquidity levels to the
organization.

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.


TOZ-BEL LLC: Unsecureds Will Recover 5% Under Plan
--------------------------------------------------
Toz-Bel, LLC, a/k/a Rossy's Garden, submitted a Combined Plan of
Reorganization and Disclosure Statement.

Toz-Bel, LLC, d/b/a Rossy's Garden, is a restaurant located at 14
Belmont Avenue, Belleville, NJ 07109 that has been operating on and
off since 2010.  It was forced to file its second Chapter 11
petition on Jan. 8, 2020, on the eve of its liquor license being
auctioned and in order to reorganize its business and pay its
creditors pursuant to this Plan.  The business closed its doors in
early 2019 after a successful reorganization before this Court but
when the liquor license was not timely renewed and problems
persisted with the Members and the management of the business, the
only way to ultimately save the business was to seek bankruptcy
protection again.  As a result, Rosa Chacon, minority Member of the
Debtor, resigned as Secretary and no longer participated in
Toz-Bel's affairs at any level since May 13, 2019.

Through this second bankruptcy filing and this Plan, Toz-Bel has
been able to save its liquor license from auction, renovate the
location using capital contributions from Julio Maldonado,
Toz-Bel's managing Member, and reopen the restaurant business in
January of 2021 during the most extensive global pandemic that
modern society has ever seen. Toz-Bel was forced to reinvent itself
and reopened under a new name of "Selvatico Restaurant" that serves
exquisite and authentic Ecuadorian and Latin American food to the
Essex County area.  To say there have been challenges along the way
for Toz-Bel to get back on its feet would be an understatement but
Toz-Bel is determined and dedicated to remain in business and pay a
dividend to its creditors.  Toz-Bel currently employs approximately
seven people between full and part time employees.

The Plan proposes to treat claims as follows:

   * All Administrative Expenses, including tax claims,
professional fees, Trustee fees, expenses arising in the ordinary
course of business after the Petition Date and value of goods
received in the ordinary course of business within 20 days before
the Petition Date will be paid in full on the effective date or
according to separate written agreement.

   * Priority Tax Claims shall be paid in full in equal monthly
installments starting in the 1st month after the effective date of
confirmation for 60 months or on the anniversary of the effective
date (annual payments) for five (5) years.

   * Secured claims that are unimpaired pursuant to the date and
priority of their judgment lien filing will be paid in full in
equal monthly installments starting in the 1st month after the
effective date of confirmation for 72 months pursuant to their
rights as a judgment creditor.

   * Secured claims that are impaired pursuant to the date and
priority of their judgment lien filing shall be paid in equal
monthly installments starting in the 1st month after the effective
date of confirmation for 72 months pursuant to the value of their
collateral pursuant to Section 506 of the Bankruptcy Code and any
remaining balance shall be crammed down and paid as a general
unsecured creditor.

   * Executory contracts and unexpired leases: There are no
executory contracts or unexpired leases for the Debtors to reject
or assume. There is no written lease agreement and no security for
the business location as Debtor is month to month on an oral
agreement. Rent payments have been suspended until further notice
due to improvements made to the property and the Covid-19 pandemic.


   * General Unsecured Claims shall be paid 5% of allowed claims in
equal monthly installments starting in the 1st month after the
effective date of confirmation for 72 months for a total of $31,348
to be paid.

   * Allowed Unsecured of Insiders will receive no dividend.

   * Equity Interest Holders will retain their interest in the
Debtor.

The Plan will be funded by the Debtor's postpetition average net
cash flow income of approximately of $2,295 per month to fund all
obligations under the Plan.  This is a conservative outlook due to
the ongoing economic slowdown from Covid-19 but Debtor's recent
operating reports are showing positive cash flow that will only
improve as the pandemic hopefully dissipates in the coming months
and we enter the holiday season.  Julio Maldonado, Managing Member
and General Manager of the Debtor, shall also make additional
capital contributions towards administrative expenses and/or Plan
funding upon confirmation of the Plan (if necessary).

Attorneys for the Debtor Toz-Bel, LLC:

     Steven D. Pertuz, Esq.
     THE LAW OFFICES OF STEVEN D. PERTUZ, LLC
     111 Northfield Avenue, Suite 304
     West Orange, New Jersey 07052
     Tel: (973) 669-8600
     Fax: (973) 669-8700

A copy of the Disclosure Statement dated October 13, 2021, is
available at https://bit.ly/3BLSlw0 from PacerMonitor.com.

                       About Toz-Bel LLC

Toz-Bel, LLC, filed a Chapter 11 bankruptcy petition (Bankr. D.N.J.
Case No. 16-15415) on March 22, 2016.  The Debtor is represented by
Anthony Sodono III, Esq., of the firm Trenk, DiPasquale, Della Fera
& Sodono, PC.


TPT GLOBAL: Expands Caribbean Presence With New Testing Capacity
----------------------------------------------------------------
TPT Global Tech, Inc.'s subsidiary TPT MedTech is expanding its
Point of Care (POC) operations in the Caribbean with the
introduction of its services in Grenada.  With the Covid Delta
variant continuing its rise globally, TPT's operations will include
Covid testing through the availability of its "QuikLAB" and
"QuikPASS" Check and Verify Passport technology platform to
tourists, local citizens, and government agencies.

Tourists in the country who are tested by an authorized "QuikLAB"
facility will have to download the "QuikLAB" App, get tested and
present and show their "QuikPASS" report results electronically via
a QR code on their "QuikLAB" app.  Once cleared to travel, tourists
show or scan their "QuikPASS" QR code which displays their HIPPA
compliant testing records to verify that they have been tested
within the required timeframe making them free to travel home.  The
company has been successfully running its QuikLAB and QuikPass
technology platform in Jamaica where international travelers at
both international airports in Montego Bay and Kingston are using
the QuikPASS verification platform to travel home to their
respective countries.

Travelers from Grenada to the US, Canada, the UK, and other
countries may utilize "QuikPASS" or other COVID passport apps
available or get tested at any approved facility and show their
negative COVID-19 laboratory test results at the airport in the
form of written documentation (electronic or printed) for clearance
to travel.  The CDC and other foreign authorities have mandated
that all travelers coming back from the Caribbean, Mexico, and
Latin America must be tested before arrival into the United States,
Canada, and the UK.  TPT MedTech will charge QuikLAB customers $85
for an antigen test and $120 for a PCR test in Grenada.  Pre-Covid,
Grenada saw 4 million tourists enter and depart the country
annually.

"We will continue to expand our Caribbean footprint as a leader in
the fight against infectious diseases, Covid 19 and all variants,"
said Stephen Thomas, CEO of TPT Global Tech.  "We expect to
continue to play a major role in keeping tourists and business
travelers safe and compliant while seeking additional revenue
growing opportunities across the Caribbean through our proprietary
medical solutions."

TPT MedTech developed its "QuikPASS" Check and Verify passport
system and Covid 19/Vaccination monitoring platform to serve
corporations, government organizations, schools, airlines,
hospitals, event venues, restaurants, hotels, and nightclubs.  TPT
solutions will check and verify that an individual has been tested
for Covid 19 and variants as well as those vaccinated.  TPT will
provide proof individuals are able to travel or gain access to
venues with the idea that everyone inside that venue would be
virus-free.  The "QuikPASS" "Check and Verify" passport-style
platform works with third-party testing labs and organizations that
participate in the "QuikPASS" Network and will be offered FREE to
US domestic and international business commerce and government
organizations around the world.

                       About TPT Global Tech

TPT Global Tech Inc. (OTC:TPTW) based in San Diego, California, is
a technology-based company with divisions providing
telecommunications, medical technology and product distribution,
media content for domestic and international syndication as well as
echnology solutions.  TPT Global Tech offers Software as a Service
(SaaS), Technology Platform as a Service (PAAS), Cloud-based
Unified Communication as a Service (UCaaS). It offers carrier-grade
performance and support for businesses over its private IP MPLS
fiber and wireless network in the United States.  TPT's cloud-based
UCaaS services allow businesses of any size to
enjoy all the latest voice, data, media and collaboration features
in today's global technology markets. TPT Global Tech also operates
as a Master Distributor for Nationwide Mobile Virtual Network
Operators (MVNO) and Independent Sales Organization (ISO) as a
Master Distributor for Pre-Paid Cell phone services, Mobile phones
Cell phone Accessories and Global Roaming Cell phones.

TPT Global reported a net loss attributable to the Company's
shareholders of $8.07 million for the year ended Dec. 31, 2020,
compared to a net loss attributable to the company's shareholders
of $14.03 million for the year ended Dec. 31, 2019. As of June 30,
2021, the Company had $12.49 million in total assets, $39.36
million in total liabilities, $5.03 million in total mezzanine
equity, and a total stockholders' deficit of $31.90 million.

Draper, Utah-based Sadler, Gibb & Associates, LLC, the Company's
auditor since 2016, issued a "going concern" qualification in its
report dated April 15, 2021, citing that the Company has suffered
recurring losses from operations and has insufficient cash flows
from operations to support working capital requirements.  These
factors raise substantial doubt about the Company's ability to
continue as a going concern.


TPT GLOBAL: Signs Joint Venture Deal With India's Alpha Design
--------------------------------------------------------------
TPT Global Tech, Inc. has signed a joint venture agreement with
Alpha Design Technologies Private Limited of India to create TPT
Alpha Design in the US.  The JV Agreement covers Alpha's interests
in business development, designing, developing, manufacturing and
operating global projects primarily across aerospace, space
satellite systems, telecommunications and smart city projects
across global markets with a focus on the United States.

Under the Agreement, TPT Global Tech, Inc. will set up a group
subsidiary in collaboration with Alpha Design Technologies.  TPT
Global Tech and its group subsidiary will be involved with the
manufacture, design, and management of space satellite systems
capabilities giving TPT Global Tech a highly sought after ability
to participate in such projects in the US and across global
markets. Additionally, under the JV agreement, TPT Global Tech's
new business entity will focus on facilitating end-to-end new
business opportunities in the US$ 366 billion satellite systems
industry.

Alpha Design Technologies Private Limited (ADTL) is a USD $150
million in revenues per year company that was established to put
into action the 'Made in India' policy of the Government of India.
ADTL specializes in R&D, manufacture, assembly, testing,
qualification, integration & installation of defence electronics,
avionics & space satellite systems. ADTL was established in
Bangalore in 2004.  The Company is structured to offer a wide range
of products to the Indian and International Satellite, Aerospace
and Defence Markets.  ADTL's management, operations and production
executives are skilled technicians that combine a wealth of
experience in all facets of defence technology including R&D,
manufacture, quality assurance, evaluation and system integration.
Adani Group, which is a USD $99 billion diversified organization
based in India, owns a majority stake in the company after it
acquired Alpha Design Technologies Private Limited in 2019.

"TPT Global Tech and Alpha Design Technologies have come together
to incorporate a JV company called 'TPT Alpha Design, Inc.' which
combines the abilities of both companies in sectors including
Telecommunications & 5G Ecosystem Industry, Aerospace & Defence
Industry, Electronics & Information Technology Industries," said
TPT CEO Stephen Thomas.  "Additionally, TPT Global Tech now has the
ability to provide end-to-end manufacturing and services for space
satellite systems, Telecommunications, 5G Base stations, Antennas
and Broadcast Radios and defence projects.  We now qualify for
multiple minority set aside programs and projects in the US while
at the same time we are in discussions with various countries in
the Middle East and African markets for developing and running
their space satellite programs.  This will be a new and substantial
revenue pool for TPT Global Tech through its new subsidiary, TPT
Alpha Design."

Mr. Thomas further stated, "This JV company is a true example that
the TPT Global Tech team is focused on keeping innovation flowing.
We are always on the lookout for new business opportunities. With
the additions of Retired General John Wharton and retired Colonel
Ernest "Lee" Dunlop, we believe we are positioned to take advantage
of an entirely news sector of business opportunities.  In the case
of Alpha Design Technologies, they will be an ideal partner
allowing us to provide A-Z results in terms of manufacturing and
services for sectors such as telecommunications, aerospace &
defence.  We welcome Alpha Design Technologies to the TPT Global
Tech family and are anxious to get started."

Alpha Design Technologies' Chairman & Managing Director, Colonel H.
S. Shankar, VSM said, "We are looking forward to collaborating
through the US-based JV company as it allows us to support TPT
Global Tech in its various projects across the US and other global
markets.  Our ability to ideate, design, mass manufacture and
provide unparalleled service in the space satellite industry along
with aerospace and defence happens to be the pivot for this JV
company's existence.  We are proud to present our services and
solutions through TPT Alpha Design as Alpha Design Technologies who
is owned by a multi-billion dollar corporation group in India
without jeopardizing the flexibility to respond to market
requirements in the shortest period. We will now focus on providing
all our abilities and services as TPT Alpha Design which makes us a
proud partner in this JV."

Harnish Gajjar, chief strategy officer & country director (India)
for TPT Global Tech, Inc. said, "This is yet another huge milestone
for TPT Global Tech in setting its footprints across global markets
including India.  There is a lot of business that we are
identifying and creating a strong pipeline of new opportunities
that will be serviced by TPT Alpha Design, the JV company.  We have
initiated discussions to create a long-term business plan for TPT
Alpha Design and we anticipate in the very near future, you will
see various projects and opportunities that TPT Alpha Design will
start showcasing as a part of this plan."

                       About TPT Global Tech

TPT Global Tech Inc. (OTC:TPTW) based in San Diego, California, is
a technology-based company with divisions providing
telecommunications, medical technology and product distribution,
media content for domestic and international syndication as well as
echnology solutions.  TPT Global Tech offers Software as a Service
(SaaS), Technology Platform as a Service (PAAS), Cloud-based
Unified Communication as a Service (UCaaS). It offers carrier-grade
performance and support for businesses over its private IP MPLS
fiber and wireless network in the United States.  TPT's cloud-based
UCaaS services allow businesses of any size to
enjoy all the latest voice, data, media and collaboration features
in today's global technology markets. TPT Global Tech also operates
as a Master Distributor for Nationwide Mobile Virtual Network
Operators (MVNO) and Independent Sales Organization (ISO) as a
Master Distributor for Pre-Paid Cell phone services, Mobile phones
Cell phone Accessories and Global Roaming Cell phones.

TPT Global reported a net loss attributable to the Company's
shareholders of $8.07 million for the year ended Dec. 31, 2020,
compared to a net loss attributable to the company's shareholders
of $14.03 million for the year ended Dec. 31, 2019. As of June 30,
2021, the Company had $12.49 million in total assets, $39.36
million in total liabilities, $5.03 million in total mezzanine
equity, and a total stockholders' deficit of $31.90 million.

Draper, Utah-based Sadler, Gibb & Associates, LLC, the Company's
auditor since 2016, issued a "going concern" qualification in its
report dated April 15, 2021, citing that the Company has suffered
recurring losses from operations and has insufficient cash flows
from operations to support working capital requirements.  These
factors raise substantial doubt about the Company's ability to
continue as a going concern.


TPT GLOBAL: Unit Partners With SAMS to Boost COVID Testing Capacity
-------------------------------------------------------------------
TPT Global Tech, Inc.'s subsidiary TPT MedTech is partnering with
St. Augustine Medical Services (SAMS) of Grenada to expand Point of
Care (POC) operations in the Caribbean.  TPT has just delivered the
first of its "QuikLAB" mobile laboratories to the island and will
be working with SAMS to combine its testing capabilities with TPT's
"QuikPASS" Check and Verify Passport technology platform to
accurately and efficiently provide Covid testing for tourists,
local citizens, and government agencies.

SAMS is a provider of respiratory infection detection in Grenada,
removing the guesswork with syndromic testing by utilizing a
multiplex PCR test.  This methodology takes one sample from a
patient and combines it with several possible pathogens into one
test, with results in about an hour.  Coupled with TPT's
"QuickPASS" Check and Verify System, the partnership will be
providing one of the most robust testing, tracking, and reporting
systems in the Caribbean.

"We endeavor to protect our citizens and visitors to our island at
all times and working with TPT's Medical division on a
comprehensive program for testing will add to what we've already
done," said L.N. Amechi M.D., managing director of St. Augustine
Medical Services. "We've seen what TPT has been doing elsewhere in
the Caribbean and know it's a sound match for the protections we
want to set up here."

Tourists in the country who are tested by an authorized "QuikLAB"
facility will have to download the "QuikLAB" App, get tested and
present and show their "QuikPASS" report results electronically via
a QR code on their "QuikLAB" app.  Once cleared to travel, tourists
show or scan their "QuikPASS" QR code which displays their HIPPA
compliant testing records to verify that they have been tested
within the required timeframe making them free to travel home.  The
company has been successfully running its QuikLAB and QuikPass
technology platform in Jamaica where international travelers at
both international airports in Montego Bay and Kingston are using
the QuikPASS verification platform to travel home to their
respective countries.

Travelers from Grenada to the US, Canada, the UK, and other
countries may utilize "QuikPASS" or other COVID passport apps
available or get tested at any approved facility and show their
negative COVID-19 laboratory test results at the airport in the
form of written documentation (electronic or printed) for clearance
to travel.  The CDC and other foreign authorities have mandated
that all travelers coming back from the Caribbean, Mexico, and
Latin America must be tested before arrival into the United States,
Canada, and the UK.  TPT MedTech Caribbean will charge QuikLAB
customers $85 for an antigen test and $120 for a PCR test in
Grenada. Pre-Covid, Grenada saw 4 million tourists enter and depart
the country annually.

"We seek partners who are a good fit with our technology and
systems and St. Augustine is a perfect match.  As we continue to
expand our Caribbean footprint as a leader in the fight against
infectious diseases, Covid 19 and all variants, additional partners
will be sought and we expect to be able to further grow our
presence and revenue opportunities through such arrangements," said
Stephen Thomas, CEO of TPT Global Tech.

TPT MedTech developed its "QuikPASS" Check and Verify passport
system and Covid 19/Vaccination monitoring platform to serve
corporations, government organizations, schools, airlines,
hospitals, event venues, restaurants, hotels, and nightclubs.  TPT
solutions will check and verify that an individual has been tested
for Covid 19 as well as those vaccinated.  TPT will provide proof
individuals are able to travel or gain access to venues with the
idea that everyone inside that venue would be virus-free.  The
"QuikPASS" "Check and Verify" passport-style platform works with
third-party testing labs and organizations that participate in the
"QuikPASS" Network and will be offered FREE to US domestic and
international business commerce and government organizations around
the world.

                       About TPT Global Tech

TPT Global Tech Inc. (OTC:TPTW) based in San Diego, California, is
a technology-based company with divisions providing
telecommunications, medical technology and product distribution,
media content for domestic and international syndication as well as
echnology solutions.  TPT Global Tech offers Software as a Service
(SaaS), Technology Platform as a Service (PAAS), Cloud-based
Unified Communication as a Service (UCaaS). It offers carrier-grade
performance and support for businesses over its private IP MPLS
fiber and wireless network in the United States.  TPT's cloud-based
UCaaS services allow businesses of any size to
enjoy all the latest voice, data, media and collaboration features
in today's global technology markets. TPT Global Tech also operates
as a Master Distributor for Nationwide Mobile Virtual Network
Operators (MVNO) and Independent Sales Organization (ISO) as a
Master Distributor for Pre-Paid Cell phone services, Mobile phones
Cell phone Accessories and Global Roaming Cell phones.

TPT Global reported a net loss attributable to the Company's
shareholders of $8.07 million for the year ended Dec. 31, 2020,
compared to a net loss attributable to the company's shareholders
of $14.03 million for the year ended Dec. 31, 2019. As of June 30,
2021, the Company had $12.49 million in total assets, $39.36
million in total liabilities, $5.03 million in total mezzanine
equity, and a total stockholders' deficit of $31.90 million.

Draper, Utah-based Sadler, Gibb & Associates, LLC, the Company's
auditor since 2016, issued a "going concern" qualification in its
report dated April 15, 2021, citing that the Company has suffered
recurring losses from operations and has insufficient cash flows
from operations to support working capital requirements.  These
factors raise substantial doubt about the Company's ability to
continue as a going concern.


TRANSMONTAIGNE PARTNERS: Moody's Cuts CFR to B2, Outlook Stable
---------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to the proposed
credit facilities of TransMontaigne Operating Company L.P, a
subsidiary of TransMontaigne Partners LLC (TransMontaigne) and
downgraded the ratings of TransMontaigne Partners LLC, including
its Corporate Family Rating to B2 from B1, Probability of Default
Rating to B2-PD from B1-PD and the rating on the existing senior
unsecured notes to Caa1 from B3. The proposed term loan proceeds
will be used to repay existing revolving credit facility
borrowings, partially repay term loan debt at TransMontaigne's
holding company parent, fund a distribution to the sponsor as
compensation for the sponsor contributing the SeaPort assets to
TransMontaigne and repay debt at SeaPort. The SGL-3 Speculative
Grade Liquidity (SGL) rating remains unchanged. The outlook is
stable.

"The addition of the SeaPort assets will add three attractive
terminals and the Olympic pipeline in the Pacific Northwest to
TransMontaigne's portfolio of assets, providing greater earnings
and geographic diversification of assets," commented James Wilkins,
Moody's Vice President. "However, the new term loan financing will
increase the consolidated debt at TransMontaigne and its parent,
weakening its credit profile."

The following summarizes the ratings activity.

Downgrades:

Issuer: TransMontaigne Partners LLC

Corporate Family Rating, Downgraded to B2 from B1

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

Senior Unsecured Regular Bond/Debenture, Downgraded to Caa1 (LGD6)
from B3 (LGD5)

Assignments:

Issuer: TransMontaigne Operating Company L.P

Senior Secured Term Loan, Assigned B1 (LGD3)

Senior Secured Revolving Credit Facility, Assigned B1 (LGD3)

Issuer: TransMontaigne Partners LLC

Outlook, Remains Stable

RATINGS RATIONALE

TransMontaigne's B2 CFR reflects its high leverage, modest scale,
risks associated with executing its growth plans, customer
concentration and distributions required to service debt at its
holding company parent. The compensation for the contribution of
SeaPort assets to TransMontaigne is being financed with debt,
increasing leverage. Leverage (Debt to EBITDA) was 7.5x as of June
30, 2021, including the debt at the company's parent, but over 8x,
pro forma for the contribution of SeaPort assets and debt
refinancing. Shifting debt to TransMontaigne from its parent, where
the debt is non-recourse to TransMontaigne, adds around one turn to
TransMontaigne's leverage. Moody's expects TransMontaigne's
leverage to decline as it brings new capital projects into service
and realizes modest synergies. SeaPort will add three terminals to
TransMontaigne's portfolio, enhancing its scale, gaining it access
to a new region, the Pacific Northwest, where entry to the market
is difficult without acquiring existing facilities. TransMontaigne
will also increase its exposure to the renewable fuels business.
The SeaPort terminals, which are currently operated by
TransMontaigne, are similar to TransMontaigne's existing business
and Moody's expects the company to encounter minimal integration
risks.

TransMontaigne's CFR reflects the stable nature of its cash flows
(from pipeline, terminal and tankage assets), large proportion of
fee-based revenues under take-or-pay contracts, and diversity of
operations in multiple US regions. The company enjoys strong market
positions in niche markets that have limited competition and
significant barriers to entry. The company will likely continue to
grow through incremental asset expansions as well as acquisition
opportunities sourced from its sponsor or third parties that could
be financed with excess free cash flow, debt and sponsor equity.

The new term loan and revolver are both rated B1, one notch above
the B2 CFR, reflecting the more senior priority claim on assets
relative to the unsecured notes, which are rated Caa1. The new term
loan and revolver are under the same credit agreement and will be
pari passu. The senior unsecured notes are rated Caa1, two notches
below the B2 CFR, consistent with Moody's Loss Given Default For
Speculative-Grade Companies (LGD) methodology, reflecting the more
senior priority claim of the secured credit facility borrowings
relative to the notes. The term loan at TransMontaigne's holding
company parent is not guaranteed by TransMontaigne and is
structurally subordinated to the debt at TransMontaigne.

The SGL-3 Speculative Grade Liquidity rating reflects adequate
liquidity supported by positive cash flow from operations and
unused borrowing capacity under its new $150 million revolving
credit facility due in 2028. The company keeps minimal cash
balances and is expected to have full availability under its new
revolver following the close of the transactions. The company's
legacy business has generally had little variation in working
capital levels on a seasonal basis. Moody's expects the company to
remain in compliance with the new term loan financial covenant (a
minimum debt service coverage ratio of 1.1x) and the new credit
facility financial covenant (a maximum consolidated senior secured
net leverage ratio of 6.75x), which is only tested if the revolver
utilization is equal to or greater than 35%. The company has no
near-term debt maturities, but both the term loan and the holding
company parent term loan have mandatory principal 1% per year
amortization requirements.

The term loan and revolver borrowings are secured by a first
priority security interest in the majority of the company's assets
and guaranteed on a senior secured basis by its wholly-owned
operating subsidiaries. The guarantors do not include subsidiaries
that are not wholly-owned and joint ventures, such as certain of
the SeaPort entities, that account for a material, minority portion
of TransMontaigne's cash flow and assets. The term loan benefits
from a structural enhancement in the form of an excess cash flow
sweep that requires 50% of excess cash flow to be applied towards
repaying the term loan if the consolidated first lien leverage
ratio is greater than 4.0x and 25% if the ratio is greater than
3.5x. The credit agreement allows for incremental term loans up to
the greater of $225 million and the consolidated EBITDA for the
last twelve months.

The stable outlook reflects Moody's expectations that
TransMontaigne will continue to grow its earnings through organic
projects and leverage will decline after the SeaPort and financing
transactions.

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

The ratings could be upgraded if the company generates positive
free cash flow and consolidated leverage (Debt to EBITDA,
calculated incorporating the parent debt balance) approaches 6.5x.
The ratings could be downgraded if the consolidated leverage
remains above 7.5x or its liquidity deteriorates.

The principal methodology used in these ratings was Midstream
Energy published in December 2018.

TransMontaigne Partners LLC, headquartered in Denver, Colorado,
operates midstream energy assets such as storage terminals and
product pipeline assets in multiple regions across the US,
including along the Gulf Coast, in the Midwest, Houston and
Brownsville, Texas, along the Mississippi and Ohio Rivers, in the
Southeast and on the West Coast. TransMontaigne is an indirect,
controlled subsidiary of ArcLight Energy Partners Fund VI, L.P.


TRIDENT BRANDS: Incurs $600,733 Net Loss in Third Quarter
---------------------------------------------------------
Trident Brands Incorporated filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $600,733 on $26,611 of net revenues for the three months ended
Aug. 31, 2021, compared to a net loss of $12.70 million on $273,044
of net revenues for the three months ended Aug. 31, 2020.

For the nine months ended Aug. 31, 2021, the Company reported a net
loss of $1.86 million on $216,902 of net revenues compared to a net
loss of $27.02 million on $679,031 of net revenues for the same
period during the prior year.

As of Aug. 31, 2021, the Company had $1.61 million in total assets,
$31.59 million in total liabilities, and a total stockholders'
deficit of $29.97 million.

As of Aug. 31, 2021, the Company had $11,185 in cash and a working
capital deficit of $8,074,896.  The Company has historically
generated losses and negative operating cash flows.  The Company
has an accumulated deficit of $41,214,286 as of Aug. 31, 2021.  

"These factors raise substantial doubt about the ability of the
Company to continue as a going concern.  Unless management is able
to obtain additional financing, it is unlikely that the Company
will be able to meet its funding requirements during the next 12
months. The financial statements do not include any adjustments
that might result from the outcome of this uncertainty.

As of October 20, 2021, we had only minimal cash on hand, and
consequently, we are unable to fully implement our current business
plan.  Accordingly, we have an immediate need for additional
capital to fund our operating activities.  COVID-19 has thus far
adversely affected our revenues and our ability to raise additional
capital, so there is no assurance we will be able to grow our
business or raise sufficient additional capital on acceptable terms
or at all.

In order to remedy this liquidity deficiency, we are actively
seeking to raise additional funds through the sale of equity and/or
debt securities, and ultimately, we will need to generate
substantial positive operating cash flows.  Our internal sources of
funds will consist of cash flows from operations, but not until we
begin to realize additional revenues from the sale of our products
and services.  As previously stated, our operations are generating
negative cash flows, and thus adversely affecting our liquidity.
If we are unable to raise additional funds in the near term, we
will not be able to implement our business plan, in which case
there would be a material adverse effect on our results of
operations and financial condition.

In the event we do not generate sufficient funds from revenues or
financing through the issuance of common stock or from debt
financing, we will be unable to implement our business plan and pay
our obligations as they become due, any of which circumstances
would have a material adverse effect on our business prospects,
financial condition, and results of operations.  The accompanying
financial statements do not include any adjustments that might be
required should we be unable to recover the value of our assets or
satisfy our liabilities.

Based on our limited availability of funds, we currently are not in
a position to spend on product development, sales and marketing or
capital expenditures.  We expect to fund any future product
development expenditures through a combination of cash flows from
operations and proceeds from equity and/or debt financing.  If we
are unable to generate positive cash flows from operations, and/or
raise additional funds (either through debt or equity), we will be
unable to fund our product development expenditures, in which case,
there could be a material adverse effect on our business and
results of operations," Trident stated in the Quarterly Report.

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1421907/000147793221007481/tdnt_10q.htm

                       About Trident Brands

Based in Brookfield, Wisconsin, Trident Brands Incorporated, f/k/a
Sandfield Ventures Corp., was initially formed to engage in the
acquisition, exploration and development of natural resource
properties, but has since transitioned and is now focused on
branded consumer products and food ingredients.  The Company is in
the early growth stage and has commenced commercial activities
following a period of organization and development of its business
plan.

Trident Brands reported a a net loss of $5.39 million for the 12
months ended Nov. 30, 2020, compared to a net loss of $12.22
million for the 12 months ended Nov. 30, 2019.  As of May 31, 2021,
the Company had $1.78 million in total assets, $31.15 million in
total liabilities, and a total stockholders' deficit of $29.37
million.

MaloneBailey, LLP, in Houston, Texas, the Company's auditor since
2015, issued a "going concern" qualification in its report dated
March 16, 2021, citing that the Company has suffered recurring
losses from operations and has a net capital deficiency that raises
substantial doubt about its ability to continue as a going concern.



TS GILL: No Payments to Unsecured Claims in Plan
------------------------------------------------
TS Gill Cab Corp, et al., submitted an Amended Plan of
Reorganization.

The Debtors' principal is a victim of such maneuvering and greed
and mechanization of the loan structures by MCU. Now the said
medallions which had soared to more than 1.2 million now is not
more than $50,000 each.  So the total value as of today of the
total medallions is not more $400,000.  However, for MCU and its
successor DePalma the value is same as they had loaned the money.
So, the Debtors all abandoning all medallions in full satisfaction
of the debt well as paying additional monies pursuant to the
Agreement.

The Amended Plan Proponent plans to retire all the medallions by
transferring all the medallions in full satisfaction of the debt,
pursuant to the Agreement.

This Amended Plan of Reorganization under chapter 11 of the
Bankruptcy Code proposes to pay creditors of Debtors from Tejinder
Singh and other parties as described in the Agreement.

The plan shall be implemented by retiring the medallions to
Depalma. And the expense of the plan including administrative fees
will be paid by Tejinder Singh, the principal of the Debtors,
pursuant to the Agreement and additional monies to be paid directly
by Singh.

There are no payments to classes of non-priority unsecured claims;
and or classes of equity security holders.  Class 3 Non-priority
unsecured
creditors are impaired and will not receive any payment under the
Plan.

A copy of the Disclosure Statement dated Oct. 9, 2021, is available
at https://bit.ly/2Xe3lDe from PacerMonitor.com.

                      About TS Gill Cab

TS Gill Cab Corp. and its affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Lead Case No.
21-40351) on Feb. 12, 2021, listing $50,000 in both assets and
liabilities.  Karamvir Dahiya, Esq., at Dahiya Law Offices, LLC, is
serving as the Debtors' legal counsel.


UNITED NATURAL: Moody's Hikes CFR to Ba3 & Secured Term Loan to B1
------------------------------------------------------------------
Moody's Investors Service upgraded the corporate family rating and
probability of default rating of United Natural Foods, Inc (UNFI)
to Ba3 and Ba3-PD from B1 and B1-PD, respectively. Moody's also
upgraded the company's senior unsecured notes to B2 from B3 and the
company's senior secured term loan to B1 from B2. The company's
speculative grade liquidity rating remains unchanged at SGL-1. The
outlook is stable.

"UNFI's operating performance has been better than expected and the
company has lowered its debt burden while improving EBITDA thereby
improving credit metrics", Moody's Vice President Mickey Chadha
stated. "The increase in sales volumes due to pantry loading during
the coronavirus pandemic has also been a tailwind for the company
and we expect the demand for specialty groceries will remain high
even after consumer buying patterns normalize", Chadha further
stated.

Upgrades:

Issuer: United Natural Foods, Inc

Corporate Family Rating, Upgraded to Ba3 from B1

Probability of Default Rating, Upgraded to Ba3-PD from B1-PD

Senior Secured Term Loan, Upgraded to B1 (LGD5) from B2 (LGD4)

Senior Unsecured Regular Bond/Debenture, Upgraded to B2 (LGD6)
from B3 (LGD5)

Outlook Actions:

Issuer: United Natural Foods, Inc

Outlook, Remains Stable

RATINGS RATIONALE

UNFI's Ba3 corporate family rating is supported by its very good
liquidity, its formidable size in the supermarket distribution
industry and its leadership position in the fast growing natural,
organic and specialty food business. The acquisition of SUPERVALU
Inc. diversified UNFI's customer base as well as its product
offerings and has improved profitability and growth through
leveraging fixed costs of the distribution operation and cost
synergies. Although still high, the transaction reduced UNFI's
sales concentration to Whole Foods Market, Inc. from about 38% of
total sales prior the acquisition to below 20% on a combined basis.
The company did have some initial integration issues regarding
consolidating distribution centers that negatively impacted
operating performance post acquisition, however those issues have
been resolved and Moody's does not expect any deterioration in
profitability and credit metrics in the next 12-18 months. The
company has improved lease adjusted leverage from about 6.0x at the
closing of the SUPERVALU Inc. transaction to 3.7x at the end of
fiscal year ending July 31, 2021. Moody's expects lease adjusted
leverage to remain below 4.0x over the next 12 months. The company
recently signed a 10 year supply contract with Key Food to serve as
the primary grocery wholesaler to Key Food and its members with
expected sales to reach approximately $10 billion over 10 years.
The added revenue growth will also result in increased
profitability. The distribution business is a low margin fixed cost
business therefore topline growth is important to grow
profitability.

However, Moody's believes that the business environment will remain
highly competitive especially for the independent food retailers or
small retail grocery chains. These customers are being squeezed by
larger, better capitalized traditional supermarkets and alternative
food retailers thereby pressuring their growth and profitability.

The stable rating outlook reflects Moody's expectation that UNFI's
operating trends will remain positive, credit metrics will continue
to improve, liquidity will remain very good and financial policies
including but not limited to acquisitions will be balanced.

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

Ratings could be upgraded if the company demonstrates sustained
growth in sales, and profitability and maintains good liquidity.
Quantitatively, ratings could be upgraded if debt/EBITDA is
sustained below 3.5 times and EBITA/interest expense is sustained
above 3.0 times.

Ratings could be downgraded if operating performance deteriorates.
Ratings could also be downgraded if debt/EBITDA is sustained above
4.5 times or EBITA/interest is sustained below 2.25 times or if
liquidity deteriorates or if acquisition activity causes
deterioration in cash flow or credit metrics.

UNFI is a leading distributor of natural, organic, and specialty,
produce, and conventional grocery foods and non-food products, and
provider of support services in the United States and Canada. The
company has 57 distribution centers and about $27 billion in
revenue.

The principal methodology used in these ratings was Distribution &
Supply Chain Services Industry published in June 2018.


US ECOLOGY: Moody's Affirms Ba3 CFR & Alters Outlook to Negative
----------------------------------------------------------------
Moody's Investors Service affirmed the ratings of US Ecology
Holdings, Inc., including the Ba3 corporate family rating, Ba3-PD
probability of default rating and Ba3 senior secured debt rating.
The outlook was changed to negative from stable. Concurrently,
Moody's downgraded the company's speculative grade liquidity rating
to SGL-3 from SGL-2.

The negative outlook reflects the uncertainty as to a meaningful
end market recovery with the lingering economic effects of COVID-19
driving a protracted recovery in key credit metrics. This follows a
period of underperformance after the late 2019 acquisition of NRC,
which more than doubled debt. Delays and deferrals of sizeable
treatment-and-disposal (T&D") event business is driving a lower
margin service mix into 2022. As well, end market customer spending
remains cautious in the Energy Waste and Field Services segments.
Given these factors and an uneven pace of emergency response
projects, Moody's adjusted debt-to-EBITDA will likely approach 5x
in 2021. This is high for the rating level and relative to Moody's
prior expectations of below 4x by year-end 2021. Moody's expects
improving fundamentals and pricing actions to drive moderately
better metrics through 2022. However, leverage is likely to remain
high (although falling towards 4x) absent more meaningful earnings
growth and voluntary debt reduction.

The downgrade of the speculative grade liquidity rating reflects
Moody's view that headroom under the debt leverage covenant will be
limited as thresholds step down periodically until Q4 2022. The
limited headroom under the leverage covenant will also prevent the
company from fully accessing its committed revolver. The company
also remains highly reliant on the revolver as approximately $347
million remained outstanding as of June 30, 2021.

Moody's took the following actions:

Affirmations:

Issuer: US Ecology Holdings, Inc.

Corporate Family Rating, Affirmed Ba3

Probability of Default Rating, Affirmed Ba3-PD

Senior Secured Bank Credit Facility, Affirmed Ba3 (LGD4, from
LGD3)

Downgrades:

Issuer: US Ecology Holdings, Inc.

Speculative Grade Liquidity Rating, Downgraded to SGL-3 from
SGL-2

Outlook Actions:

Issuer: US Ecology Holdings, Inc.

Outlook, changed to Negative from Stable

RATINGS RATIONALE

The ratings affirmation reflects US Ecology's regulation-driven
operating model and Moody's expectation for gradually improving
conditions in key end markets to drive higher disposal volumes and
revenue over the next year. The company's technical expertise in
niche sectors of the waste disposal industry and unique high value
assets should continue to drive demand for its services. US Ecology
has a track record of relatively steady but modest free cash flow
(averaging $25 million over the last three years) and a solid
market position in specialty and industrial waste services,
enhanced by its combination with NRC. Scale is also significantly
improved (revenue should approach $970 million in 2021) but remains
modest given the narrow focus and lower volumes associated with
specialty, predominantly hazardous waste streams. The revenue base
is diversified by service and end market, noting nonetheless there
is volatility from the event-driven portion of the company's
treatment and disposal (T&D) revenues. This is tempered by NRC's
contractual services - retainers and master service agreements -
which are mandated by federal and state regulations, providing a
recurring revenue stream that adds top-line stability.

However, the business model relies on general economic conditions
to drive industrial activity and processes, which subsequently
generate special waste volumes. While Moody's expects improving end
market conditions to drive higher the adjusted EBITDA margin
(17%-18%) over the next year, the margin will likely remain below
rated peers (20%+) absent accelerated earnings growth. This could
occur from additional higher-margin T&D event work and large scale
emergency response projects. Margin pressures from wage inflation
and headwinds from industrial customers as they manage through
supply chain challenges and rising costs will be partially offset
by positive pricing actions. Sizeable ongoing capital requirements
to maintain high fixed-cost disposal assets do constrain cash flow.
Additionally, operating in the special waste industry includes
considerable environmental and social risk, particularly with
respect to the handling and transportation of hazardous materials.

The SGL-3 rating denotes adequate liquidity, supported by Moody's
expectation for a cash position of at least $45 to $50 million and
annual free cash flow (cash flow from operations less dividends
less capital expenditures) in the $20 to $30 million range over the
next 12 to 18 months. The quarterly dividend of roughly $6 million
per quarter remains suspended until further notice. Capital
expenditures are expected to increase to over $100 million in 2022
(from roughly $87 million expected in 2021) to support new
capacity/buildouts of landfills, constraining free cash flow. The
company had nearly $83 million of availability at June 30, 2021
under a $500 million senior secured revolving credit facility set
to expire in 2026. The bank agreement includes maintenance
covenants only on the revolving facility -- minimum interest
coverage of 3x and a maximum net leverage ratio of 5.25x as of Q2
2021, with thresholds stepping down progressively to 4.5x in Q4
2022. The thresholds are part of an amendment in 2020 -- recently
extended through December 31, 2022 - that provided greater covenant
cushion in response to the pandemic. Moody's expect the company to
remain in compliance.

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

The ratings could be downgraded with a sustained decline in free
cash flow. A lack of demonstrated progress with lowering leverage,
including from debt reduction, such that Moody's expects
debt-to-EBITDA to remain above 4x could also lead to a downgrade. A
continuation or increase in top-line variability, including from
meaningful delays/deferrals (or a loss) of key T&D projects, a lack
of evidence of the EBITDA margin progressing to around 20% could
warrant a negative rating action. Additionally, a weaker liquidity
profile, including significantly reduced availability or tightening
covenant compliance under the revolving credit facility, would also
pressure the ratings.

The ratings could be upgraded with continued, prudent scale
expansion and more diversification, highlighted by accelerated
growth in base business revenues to mitigate revenue and earnings
volatility. Significantly stronger free cash flow (free cash
flow-to-debt approaching 10%) and debt-to-EBITDA below 3x could
result in a positive rating action. An EBITDA margin sustained well
above 20% would also be necessary for an upgrade.

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


US Ecology Holdings, Inc., publicly traded under ECOL and a
subsidiary of US Ecology, Inc., provides treatment, disposal and
recycling of hazardous, non-hazardous and radioactive waste, as
well as a wide range of complementary field and industrial
services. With the addition of NRC in 2019, the company also
provides recurring environmental and compliance services,
remediation, cleaning, decontamination, maintenance and inspection
to the marine and rail transportation, general industrial and
energy markets. The Sprint Energy Services segment provides waste
management services to the upstream and midstream energy markets.
Revenue for the latest twelve months ended June 30, 2021 was $949
million.



VECTOR WP HOLDCO: Moody's Assigns First Time B2 Corp Family Rating
------------------------------------------------------------------
Moody's Investors Service assigned first time ratings to Vector WP
Holdco, Inc. including a B2 corporate family rating and a B2-PD
probability of default rating. Concurrently, Moody's assigned a B2
rating to the company's proposed $415 million senior secured credit
facility, which is comprised of a $100 million revolving credit
facility and a $315 million first lien term loan B. Proceeds from
the term loan and $230 million of new equity from One Equity
Partners will be used to acquire and subsequently merge USNR LLC
and Wood Fiber Group. The outlook is stable.

Assignments:

Issuer: Vector WP Holdco, Inc.

Corporate Family Rating, Assigned B2

Probability of Default Rating, Assigned B2-PD

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

Senior Secured Revolving Credit Facility, Assigned B2 (LGD3)

Outlook Actions:

Issuer: Vector WP Holdco, Inc.

Outlook, Stable

RATINGS RATIONALE

Vector WP's B2 CFR reflects the company's limited scale and
execution risk associated with merger of USNR and Wood Fiber.
Moody's estimates the pro forma adjusted debt-to-EBITDA to be
moderately high at 4.8x as of LTM June 2021. The company has a
niche market focus on wood processing that largely serves cyclical
end markets such as housing and construction industries. A large
portion of the combined company's revenue will be generated through
equipment sales that are susceptible to volatility in lumber
prices. Demand for consumable parts/ services are more maintenance
related and tends to follow relatively more stable lumber
production trends. Customer concentration is high with the top 10
customers accounting for more than 40% of combined sales. Given the
private equity ownership, Moody's expect the company to be
susceptible to leveraging events such as debt financed acquisition
and shareholder distributions.

The rating is supported by the strategic benefits associated with
the combination of two businesses. Enhanced scale and a broader
product portfolio will provide better customer reach with cross
selling opportunities. Also, increased presence in the aftermarket
and consumable parts and services limits the downside risk in a
weak market environment. The ratings also benefit from the
company's entrenched market position with long standing customer
relationships.

Liquidity is good, supported by Moody's expectation of positive
annual free cash flow of over $30 million and full availability
under its $100 million revolving credit facility.

The first lien credit agreement contains provisions for incremental
debt capacity up to greater of $66 million and 75% of EBITDA plus
additional amounts subject to first lien net leverage of 3.6x (if
pari passu secured). Credit terms allow the release of guarantees
when any subsidiary ceases to be wholly owned, subject to certain
conditions. There are no leverage-based steps downs to asset-sale
proceeds prepayment requirement.

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

The stable outlook reflects Moody's expectation of modest earnings
growth to result in leverage approaching 4.0x by the end of 2022,
and a positive free cash flow with good liquidity.

An upgrade would require the company to demonstrate a smooth
integration of the two companies without material business
disruption. Adjusted debt-to-EBITDA that is expected to be
sustained below 4.0x and free cash flow to debt in the high single
digits could also lead to an upgrade. Increased scale with a
broader product portfolio that is less susceptible to volatility in
lumber pricing could also support an upgrade.

The ratings could be downgraded if the company experiences
integration challenges or the company's revenue declines as a
result of weak market conditions, intensified competition and/or
loss of customers. Adjusted debt-to-EBITDA sustained above 5.5x,
free cash flow to debt expected to be sustained below 5% or
weakening liquidity could prompt a rating downgrade.

Vector WP Holdco, Inc is an equipment manufacturer and consumables
parts and services provider for the wood processing industry. The
company will be owned by One Equity Partners. Pro forma revenue for
the last twelve months ended June 2021 approximates $425.6
million.

The principal methodology used in these ratings was Manufacturing
published in September 2021.


VENUS CONCEPT: Gets FDA 510(k) Clearance for Venus Freedom
----------------------------------------------------------
Venus Concept Inc. has received 510(k) clearance from the U.S. Food
and Drug Administration to market the Venus Freedom device in the
United States.

Venus Freedom is a noninvasive, non-ablative device with three
applicators for the delivery of non-thermal radiofrequency energy
combined with massage and magnetic field pulses.  It is intended
for the treatment of minor muscle aches and pain, relief of muscle
spasm, and temporary improvement of local blood circulation.

"Following the receipt of Health Canada authorization for our Venus
Fiore Feminine Health System in July, we are very pleased to
further expand our portfolio of technologies that can treat a broad
range of common women's health conditions with the FDA 510(k)
clearance of Venus Freedom," said Domenic Serafino, chief executive
officer and director of Venus Concept Inc.  "Venus Concept devoted
nearly six years to developing this technology in order to create a
comprehensive, safe and effective system that has the ability to
treat a variety of different women's wellness issues, addressing
important medical needs and supported with significant clinical
data.  We look forward to commencing a limited launch of the Venus
Freedom in the U.S. during the first quarter of 2022.  We intend to
sell the Venus Freedom using a unique utilization-focused business
model which we believe will make the return on investment of this
system very attractive for both Venus Concept and the OBGYN
community."

The receipt of FDA 510(k) clearance for Venus Freedom follows the
recent receipt of Health Canada authorization to market the Venus
Fiore Feminine Health System in July 2021.  In Canada, Venus Fiore
is intended for women who are post-menopausal, or have undergone
surgically induced menopause, and is intended to treat the vaginal
canal to improve symptoms of vaginal laxity and for increased
sexual function, skin tightening/improvement in skin laxity of the
Mons Pubis (MP) anatomy and the Labia Majora (LA) anatomy and to
improve blood flow.

                        About Venus Concept

Toronto, Ontario-based Venus Concept Inc. is an innovative global
medical technology company that develops, commercializes, and
delivers minimally invasive and non-invasive medical aesthetic and
hair restoration technologies and related practice enhancement
services.  The Company's aesthetic systems have been designed on a
cost-effective, proprietary and flexible platform that enables the
Company to expand beyond the aesthetic industry's traditional
markets of dermatology and plastic surgery, and into
non-traditional markets, including family and general practitioners
and aesthetic medical spas.

Venus Concept reported a net loss of $82.82 million for the year
ended Dec. 31, 2020, compared to a net loss of $42.29 million for
the year ended Dec. 31, 2019. As of June 30, 2021, the Company had
$147.27 million in total assets, $110.43 million in total
liabilities, ($782,000) in non-controlling interests and $37.63
million in total stockholders' equity.

Toronto, Canada-based MNP LLP issued a "going concern"
qualification in its report dated March 29, 2021, citing that the
Company has reported recurring net losses and negative cash flows
from operations that raises substantial doubt about its ability to
continue as a going concern.


VOLUNTEER MOTORSPORTS: Unsecureds Will Get 100% of Claims in Plan
-----------------------------------------------------------------
Volunteer Motorsports, LLC, filed with the U.S. Bankruptcy Court
for the Eastern District of Tennessee a Plan of Reorganization for
Small Business.

The Debtor's Plan is to sell the facility and use the proceeds to
pay all claims against the estate. He anticipates receiving an
offer on the facility before September 1, 2021. If no offer to
purchase to purchase the facility is made Debtor will continue
operations while still attempting to sell the facility.

The final Plan payment is expected to be paid on the earlier of the
sale of the facility or October 2031 when the final payment is made
to The Loven Trust before the note is due to be called. If the note
is not called the final payment would be October 2041.

The Plan of Reorganization proposes to pay creditors of the Debtor
from future income from operating the track for dirt races and then
from the proceeds of the sale of the facility.

Non-priority unsecured creditors holding allowed claims will
receive distributions, which the proponent of this Plan has valued
at approximately 100 cents on the dollar. This Plan also provides
for the payment of administrative and priority claims.

Class 2 consists of the Secured claim of The Loven Family Trust.
The claim of the Loven Family Trust shall be paid in full upon the
sale of the facility. The claim will accrue interest at the
contract rate of 4% from the date of filing this case until closing
on a sale. If the Debtor does not have a contract to purchase the
facility by November 9, 2021 then the Debtor shall commence
quarterly payments on the claim starting November 30, 2021 for the
next 60 consecutive months.

Class 3 consists of Non-priority unsecured creditors. Town of
Mosheim, TN has a claim of $3,019.76. The claim will be paid in
full from the sale of the facility. If the Debtor in Possession
does not have a contract to purchase the facility by November 9,
2021 then the Debtor shall make equal monthly payments on the claim
starting November 30, 2021 for 12 consecutive months.

Class 4 consists of equity security holders of the Debtor. The
owner of the LLC, Darrell Landon Stallard will not receive any
distribution unless and until all other claims of the estate have
been fully satisfied.

Darrell Landon will continue to operate the raceway facility until
a buyer is found. The facility generates income  for 10 months each
calendar year. Debtor will escrow sufficient funds by December 1,
of each year of this plan to provide for payments for the
non-operating months of January and February.

A full-text copy of the Plan of Reorganization dated October 18,
2021, is available at https://bit.ly/2ZkcRG1 from PacerMonitor.com
at no charge.

Attorney for the Debtor:

     Dean Greer, Esq.
     Dean Greer & Associates
     P. O. Box 3708
     Kingsport, TN 37664
     Phone: (423) 246-1988
     Fax: (423) 378-4594
     Email: dean.greer@deangreer.com

                  About Volunteer Motorsports

Volunteer Motorsports, LLC -- http://volunteerspeedway.com-- is a
Bulls Gap, Tenn.-based company that owns properties, including a
64.3-acre tract improved by a 4/10 mile dirt race track, spectator
grandstands, shop and office buildings, fan indoor suite building,
and officials tower.  The properties are valued at $2.5 million.

Volunteer Motorsports filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tenn. Case. No.
21-50272) on March 9, 2021.  Landon Stallard, managing member,
signed the petition.  At the time of the filing, the Debtor
disclosed $2,606,702 in assets and $1,808,173 in liabilities.

Dean Greer, Esq., at Dean Greer& Associates, represents the Debtor
as legal counsel.


VTV THERAPEUTICS: Names Deepa Prasad as New President, CEO
----------------------------------------------------------
vTv Therapeutics Inc.'s Board of Directors has appointed Deepa
Prasad as president and chief executive officer and as a member of
the Board.  Stephen L. Holcombe who previously served as vTv's
president and chief executive officer will be retiring.

Deepa joins vTv as it sets to launch phase 3 pivotal studies for
its most advanced product, TTP399, which was granted Breakthrough
Therapy Designation by the FDA in April as an oral adjunctive
therapy for the treatment of type 1 diabetes.

Recent positive results from the phase 2 study showed treatment
with TTP399 resulted in a statistically significant improvement in
HbA1c relative to placebo and a clinically meaningful decrease
(40%) in the frequency of severe and symptomatic hypoglycemia.

Earlier this month, vTv announced positive results from a
mechanistic study indicating no increased risk of ketoacidosis with
TTP399 during acute insulin withdrawal in patients with type 1
diabetes.  Patients taking TTP399 also reported no events of
hypoglycemia, while four events of hypoglycemia were reported in
the placebo arm.

"I am thrilled to have Deepa to step in to this role at an exciting
time," said Robin E. Abrams, vTv Chairwoman.  "Deepa is the right
choice to steer the company through this final stage of TTP399
development, given her significant experience in leadership roles
at several prominent healthcare companies during pivotal moments of
change and growth."

Ms. Prasad brings over 20 years of healthcare experience spanning
venture capital, biotech investment banking, general management,
startups and legislation.  She most recently served as managing
director at WestRiver Group, where she led the firm's investments
in Design Therapeutics (Nasdaq: DSGN), Ginger (now $3B Headspace
Health), and Curai.  She currently sits on the Board of Design
Therapeutics and is an Independent Advisor to Equilibre
Biopharmaceuticals.  In June 2021, Deepa was awarded the Falk
Marques General Partners Rising Star Award sponsored by Deloitte.

"I am pleased to join vTv Therapeutics and lead us through our next
phase of growth," said Prasad.  "Hypoglycemia is a significant
cause of morbidity and potential mortality, and vTv is
well-positioned to address this serious issue for the worldwide and
growing Type 1 diabetes patient population."

In connection with his transition, the Company entered into a
retirement agreement with Mr. Holcombe, pursuant to which Mr.
Holcombe is entitled to a cash severance payment at a rate of
$450,000 per year payable in monthly or bi-weekly installments
through Dec. 31, 2022, a bonus for the year ending Dec. 31, 2021
and continued medical coverage at the same cost as active employees
for 12 months.  In addition, Mr. Holcombe's outstanding options to
acquire shares of Class A common stock of the Company will continue
to vest and remain outstanding through the expiration of the
original ten year term.  The payments under the Retirement
Agreement are conditioned on a release of claims by Mr. Holcombe in
favor of the Company as well as his continued compliance with his
post-employment restrictive covenants.  The Retirement Agreement
provides that Mr. Holcombe will provide services as a consultant
and strategic advisor to the chief executive officer, until Dec.
31, 2022 and the Company will pay Mr. Holcombe at the rate of
$150,000 per annum for such consulting services.

Ms. Prasad entered into an employment agreement with the Company
which provides for a term through Dec. 31, 2024 with a base salary
of not less than $650,000, and a cash bonus of 100% of her base
salary, based on achievement of performance targets.  The Prasad
Employment Agreement also provides for the grant of stock options
to purchase 2,498,635 shares of the Class A common stock of the
Company at an exercise price of $1.47 per share pursuant to an
inducement award agreement.  Subject to potential acceleration upon
the achievement of certain performance metrics as set forth in the
Inducement Award Agreement, the Options will vest on the third
anniversary of the grant date.

                       About vTv Therapeutics

vTv Therapeutics Inc. is a clinical-stage biopharmaceutical company
focused on developing oral small molecule drug candidates.  vTv has
a pipeline of clinical drug candidates led by programs for the
treatment of type 1 diabetes, Alzheimer's disease, and inflammatory
disorders.  vTv's development partners are pursuing additional
indications in type 2 diabetes, chronic obstructive pulmonary
disease (COPD), and genetic mitochondrial diseases.

vTv Therapeutics reported a net loss attributable to common
shareholders of $8.50 million for the year ended Dec. 31, 2020,
compared to a net loss attributable to common shareholders of
$17.91 million for the year ended Dec. 31, 2019.  As of June 30,
2021, the Company had $21.66 million in total assets, $9.29 million
in total liabilities, $60.19 million in redeemable noncontrolling
interest, and a total stockholders' deficit of $47.82 million.


WASHINGTON PRIME: Emerges From Chapter 11 Bankruptcy
----------------------------------------------------
On October 21, 2021, Washington Prime Group Inc. announced that it
and each of its debtor affiliates have emerged from the Chapter 11
process, signifying the successful completion of the Company's
financial restructuring and the implementation of its Plan of
Reorganization (the "Plan").  The Plan, which was led by Plan
Sponsor SVPGlobal, and which received overwhelming support from the
Company's creditors and equity holders, was confirmed by the United
States Bankruptcy Court for the Southern District of Texas on
September 3, 2021.

WPG has emerged from bankruptcy as a stronger and more stable
company with its debt reduced by nearly $1 billion and its overall
liquidity greatly improved.  Operating as a private holding
company, majority owned by SVPGlobal, WPG will be well positioned
to capitalize on opportunities to improve its portfolio and to
strengthen its relationships with guests, tenants, lenders,
partners, and other constituents.

With WPG's successful emergence from bankruptcy, Lou Conforti is
stepping down from his role as chief executive officer. Mark Yale,
WPG's Executive Vice President and Chief Financial Officer, and
Josh Lindimore, the Company's Executive Vice President, Head of
Leasing, will serve as interim Co-CEOs. In addition, it was
announced on October 21, 2021 that Sujan Patel, Jeff Johnson and
Martin Reid have been named new members of the Company's Board of
Directors.

Lou Conforti stated, "WPG's relatively quick financial
restructuring came as a result of the steadfast focus of my
colleagues and SVPGlobal, our equity partner who shares our passion
for the sector within which we operate. SVPGlobal recognizes the
value of our brand, the potential of our assets, and, as
importantly, our employees, corporate and field. As WPG emerges
from bankruptcy, the timing is right for me to step down from my
role as CEO and move to an advisory role. It is a 'new beginning'
for WPG, and myself. I have thoroughly enjoyed leading this
organization and wish it the greatest success."

Victor Khosla, Founder and Chief Investment Officer of SVPGlobal,
said, "As WPG exits Chapter 11, we are very excited about what lies
ahead. With a substantially stronger balance sheet and greater
financially flexibility, WPG is well positioned for the future. We
fully expect that WPG's strong portfolio of assets will enable it
to continue as a retail leader, and we look forward to partnering
with WPG's experienced team. We thank Lou for leading WPG through
an unprecedented period of change. We wish him well."

During the Chapter 11 process, Kirkland & Ellis LLP served as legal
counsel to the Company, and Alvarez & Marsal North America, LLC
served as restructuring advisor. Guggenheim Securities, LLC served
as the Company's investment banker. Davis Polk & Wardwell LLP
served as legal counsel and Evercore Group L.L.C. served as
investment banker and financial advisor to SVPGlobal. Wachtell,
Lipton, Rosen & Katz served as legal counsel and PJT Partners LP
served as investment banker for an ad hoc group of consenting
creditors.

                   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 real
estate portfolio with its expertise across the entire shopping
center 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. Tex. 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.

Judge Marvin Isgur oversees the cases.

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.

On July 15, 2021, the U.S. Trustee appointed an official committee
of equity security holders.  The equity committee tapped Porter
Hedges, LLP and Brown Rudnick, LLP as legal counsel; Province, LLC,
as financial advisor; and Newmark Knight Frank Valuation &
Advisory, LLC as real estate appraiser and valuation advisor.


WERNER FINCO: Moody's Ups CFR to B2 & Sr. Secured Term Loan to B1
-----------------------------------------------------------------
Moody's Investors Service upgraded Werner FinCo's (dba as WernerCo)
Corporate Family Rating to B2 from B3 and Probability of Default
Rating to B2-PD from B3-PD. Moody's also upgraded the ratings on
the company's senior secured term loan to B1 from B2 and senior
unsecured notes to Caa1 from Caa2. The outlook is stable.

The upgrade of WernerCo's CFR to B2 from B3 reflects Moody's
expectation that the company will generate good operating
performance and reduce leverage, with support from growth in end
markets. Moody's forecasts adjusted debt-to-EBITDA of about 5.5x at
year end 2022 versus 6.0x at June 30, 2021.

"The upgrade in WernerCo's CFR reflects Moody's expectation of
better credit metrics in 2022," said Peter Doyle, Vice President at
Moody's. "However, WernerCo faces significant event risk as Triton
Partners, having acquired WernerCo in mid-2017, could look to
monetize its investment in WernerCo over the next 18 months."

The following ratings are affected by the action:

Upgrades:

Issuer: Werner FinCo LP

Corporate Family Rating, Upgraded to B2 from B3

Probability of Default Rating, Upgraded to B2-PD from B3-PD

Senior Secured Bank Credit Facility, Upgraded to B1 (LGD3) from B2
(LGD3)

Senior Unsecured Regular Bond/Debenture, Upgraded to Caa1 (LGD5)
from Caa2 (LGD5)

Outlook Actions:

Issuer: Werner FinCo LP

Outlook, Remains Stable

RATINGS RATIONALE

WernerCo's B2 CFR reflects Moody's expectation that, while
improving, the company will retain a leveraged capital structure
through 2022. At the same time WernerCo faces event risk, with the
potential that Triton Partners may monetize its investment in
WernerCo within the next 18 months, resulting in the likelihood of
higher leverage. Offsetting these weaknesses is WernerCo' operating
performance. Moody's forecasts adjusted EBITDA margin sustained in
the range of 10% - 12% through 2022, supported by well-known
brands. Moody's also projects adjusted free cash flow-to-debt in
the range of 3% - 5% in 2022, even though cash interest payments
are about $50 million per year. Moody's expect the company will use
excess cash to repay seasonal borrowings under its revolving credit
facility, pay term loan amortization and potentially to fund
bolt-on acquisitions.

Moody's anticipate good growth over the next 18 months for the
North American economy, from which WernerCo derives about
two-thirds of its global revenue and the preponderance of its
operating income. Canada is a small component of WernerCo's overall
North American revenue. Moody's Global Macro Outlook projects that
the US GDP will grow by 6.5% in 2021 and by 4.5% for 2022. The US
Homebuilding sector generates about half of WernerCo's US revenue.
Moody's projects 1.63 million new housing starts in 2022, a 6%
increase from Moody's forecast of 1.54 million in 2021. WernerCo
will also benefit from good growth in the domestic do-it-yourself
projects (about a quarter of its US revenue) and nonresidential
construction projects (remaining balance of US revenue).

The stable outlook reflects Moody's expectation that WernerCo's
leverage will improve over the next year. Good revolver
availability and no near term maturities further support the stable
outlook.

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

An upgrade of WernerCo's ratings could ensue if end markets remain
supportive of organic growth and the company delevers such that
adjusted debt-to-EBITDA remains below 5.0x and the company's
liquidity improves through robust free cash flow. The CFR could be
downgraded if WernerCo's adjusted debt-to-EBITDA is sustained above
6.25x. A deterioration in liquidity, an aggressive acquisition with
additional debt or shareholder return activity could result in
downward rating pressure as well.

The principal methodology used in these ratings was Manufacturing
published in September 2021.

WernerCo, headquartered in Itasca, Illinois, is a global
manufacturer and distributor of ladders, jobsite storage and truck
and van tool storage products and other equipment used in the
construction industry. North American operations generate about
two-thirds of total revenue. Triton Partners, through its
affiliates, is the owner of WernerCo.



WIRECO WORLDGROUP: Moody's Ups CFR to B2, Outlook Stable
--------------------------------------------------------
Moody's Investors Service upgraded WireCo WorldGroup Inc's
Corporate Family Rating to B2 from B3 and Probability of Default
Rating (PD) to B2-PD from B3-PD. At the same time, Moody's assigned
a B2 rating to WireCo's first lien term loan. Proceeds from the
term loan will be used to refinance existing first lien senior
secured and second lien senior secured term loans, the ratings of
which will be withdrawn at the close of this transaction. The
rating outlook is stable.

WireCo's order books have rebounded and the company is investing to
improve its business mix by shoring up manufacturing capacity of
higher margin products, like crane rope, where demand is strong.
End market demand across WireCo's product offering is expected to
remain strong across most of the company's end markets over the
next twelve to eighteen months, a turnaround from the trough
inflicted by Covid shutdowns in first half 2020. As a result,
Moody's forecasts adjusted debt-to-EBITDA (inclusive of Moody's
adjustments) of 5.5x and 4.8x at year end 2021 and 2022,
respectively.

"Our stable outlook reflects consistent demand for WireCo's
products across its various end markets and the company's efficient
execution of enhancing its business mix through investments in
incremental high margin product capacity and technological
innovation," said Scott Manduca, Vice President at Moody's.

Upgrades:

Issuer: WireCo WorldGroup Inc.

Corporate Family Rating, Upgraded to B2 from B3

Probability of Default Rating, Upgraded to B2-PD from B3-PD

Assignments:

Issuer: WireCo WorldGroup Inc.

Senior Secured Bank Credit Facility, Assigned B2 (LGD4)

Outlook Actions:

Issuer: WireCo WorldGroup Inc.

Outlook, Remains Stable

RATINGS RATIONALE

WireCo's B2 corporate family rating reflects Moody's expectation
that end market demand, across most of the various markets WireCo
serves, will result in WireCo order levels consistent with or
exceeding pre-pandemic levels over the next twelve to eighteen
months. Increased orders of high margin products, like crane rope,
will allow WireCo to pivot away from low margin business and
enhance its overall business mix. Furthermore, about $10 million of
annual interest cost savings, along with increased profitability,
will enhance WireCo's ability to generate free cash that is
expected to be directed at debt reduction.

The rating also reflects the cyclicality of WireCo's end markets
and operating leverage to economic conditions. Financial results
suffered dramatically from the Covid shutdowns implemented in the
first half of 2020. However, the company's strategy to take about
$20 million of permanent cost out of the business during this slow
period was prudent. Although execution risk is elevated as the
company invests capital to pivot to a high margin business mix,
this initiative is expected to support future cash generation for
debt reduction. Capital expenditures are expected to be elevated
through 2023 and the financial benefits are anticipated to be
realized beginning in late 2022 and 2023.

WireCo's liquidity is good and sufficient to support working
capital fluctuations, service debt, and fund capital expenditure
needs. The company's $115 million ABL is expected to have the same
financial covenants as the existing outstanding, including a
springing fixed charge coverage covenant that gets triggered if
availability dips below the greater of 10% of the global loan cap
and $8.5 million for five consecutive business days.

The preliminary term sheet of the borrower, WireCo WorldGroup Inc.,
discloses a total net first lien leverage ratio threshold for
incremental first lien term loans secured on a pari passu basis of
4.5x. On a junior lien basis, the total net secured leverage ratio
cannot exceed 5.5x. Incremental unsecured debt can be added up to a
total net leverage ratio of 5.75x or an interest coverage ratio of
greater than or equal to 2.0x. Incremental debt is also subject to
specified permitted baskets. The term loan will be secured on a
first priority basis by all personal and mixed property of the
borrower and the guarantors, intellectual property, and capital
stock of each borrower and guarantor and each material direct
subsidiary (with exceptions). The term loan will have a second
priority interest in substantially all tangible and intangible
assets of the borrower and guarantors that secure the ABL,
including accounts receivable, inventory, tax refunds, and cash for
instance. The preliminary marketing term sheet includes a 50%
excess cash flow sweep that will step down to 25% and 0% upon
achievement of total net first lien leverage of equal to or less
than 4.0x and 3.5x, respectively. Asset sale proceeds can be
reinvested (or committed to reinvestment) up to eighteen months
post receipt of proceeds and not mandatorily directed toward debt
repayment, in addition to other terms and conditions. As with the
outstanding term loan, the proposed term loan has no financial
covenants.

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

The rating could be considered for an upgrade if Moody's see
improvement in the business' operating and leverage profile such
that it can better withstand inherent end market cyclicality.
Specifically, Moody's would look for debt-to-EBITDA (inclusive of
Moody's adjustments) over the various end market cycles to be
sustained below 4.5x, free cash flow-to-debt (inclusive of Moody's
adjustments) sustained above 5%, and maintenance of good
liquidity.

The rating could be considered for a downgrade if end market demand
falls and credit metrics deteriorate. Specifically, Moody's would
look for debt-to-EBITDA (inclusive of Moody's adjustments) to be
sustained above 6.0x, weak free cash flow-to-debt (inclusive of
Moody's adjustments), and a deterioration of liquidity.

Headquartered in Prairie Village, Kansas, WireCo WorldGroup Inc.,
is a global manufacturer and seller of wire ropes, high-tech
synthetic ropes, electromechanical cable, and other related
products. The company sells into diverse industries including
infrastructure, industrial, oil and gas, mining, and marine and
fishing. Revenue for the twelve months ended June 30, 2021 totaled
around $604 million. WireCo, is owned by affiliates of Onex
Corporation and Paine Schwartz Partners LLC.

The principal methodology used in these ratings was Manufacturing
published in September 2021.


[^] BOND PRICING: For the Week from October 18 to 22, 2021
----------------------------------------------------------

  Company                  Ticker   Coupon Bid Price    Maturity
  -------                  ------   ------ ---------    --------
BPZ Resources Inc          BPZR      6.500     3.017    3/1/2049
Basic Energy Services Inc  BASX     10.750     7.250  10/15/2023
Basic Energy Services Inc  BASX     10.750    15.125  10/15/2023
Buffalo Thunder
  Development Authority    BUFLO    11.000    50.000   12/9/2022
Carlson Travel Inc         CARLTV   11.500    22.620  12/15/2026
Carlson Travel Inc         CARLTV   11.500    34.500  12/15/2026
Endo Finance LLC           ENDP      5.750    92.875   1/15/2022
Endo Finance LLC           ENDP      5.750    91.442   1/15/2022
Energy Conversion Devices  ENER      3.000     7.875   6/15/2013
Federal Home Loan Banks    FHLB      0.850    99.087  10/29/2025
GNC Holdings Inc           GNC       1.500     1.250   8/15/2020
GTT Communications Inc     GTTN      7.875    10.772  12/31/2024
GTT Communications Inc     GTTN      7.875    10.250  12/31/2024
Goodman Networks Inc       GOODNT    8.000    38.714   5/11/2022
Kilroy Realty LP           KRC       3.800   102.971   1/15/2023
MAI Holdings Inc           MAIHLD    9.500    16.750    6/1/2023
MAI Holdings Inc           MAIHLD    9.500    16.750    6/1/2023
MAI Holdings Inc           MAIHLD    9.500    16.750    6/1/2023
MBIA Insurance Corp        MBI      11.384    11.500   1/15/2033
MBIA Insurance Corp        MBI      11.384    11.084   1/15/2033
MF Global Holdings Ltd     MF        9.000    15.625   6/20/2038
MF Global Holdings Ltd     MF        6.750    15.625    8/8/2016
Nine Energy Service Inc    NINE      8.750    50.433   11/1/2023
Nine Energy Service Inc    NINE      8.750    50.827   11/1/2023
Nine Energy Service Inc    NINE      8.750    50.243   11/1/2023
OMX Timber Finance
  Investments II LLC       OMX       5.540     0.350   1/29/2020
Renco Metals Inc           RENCO    11.500    24.875    7/1/2003
Revlon Consumer Products   REV       6.250    42.840    8/1/2024
Riverbed Technology Inc    RVBD      8.875    67.746    3/1/2023
Riverbed Technology Inc    RVBD      8.875    67.746    3/1/2023
Rolta LLC                  RLTAIN   10.750     1.116   5/16/2018
Sears Holdings Corp        SHLD      6.625     1.957  10/15/2018
Sears Holdings Corp        SHLD      6.625     2.003  10/15/2018
Sears Roebuck Acceptance   SHLD      7.500     1.188  10/15/2027
Sears Roebuck Acceptance   SHLD      7.000     1.091    6/1/2032
Sears Roebuck Acceptance   SHLD      6.750     1.085   1/15/2028
Sears Roebuck Acceptance   SHLD      6.500     1.100   12/1/2028
Sempra Texas Holdings      TXU       5.550    13.500  11/15/2014
Talen Energy Supply LLC    TLN       4.600    93.482  12/15/2021
Talen Energy Supply LLC    TLN       9.500    83.143   7/15/2022
Talen Energy Supply LLC    TLN       9.500    83.143   7/15/2022
TerraVia Holdings Inc      TVIA      5.000     4.644   10/1/2019



                            *********

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,
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