text: TCRLA_Public/131028.mbx T R O U B L E D C O M P A N Y R E P O R T E R L A T I N A M E R I C A Monday, October 28, 2013, Vol. 14, No. 213 HeadlinesA R G E N T I N ABANCO SANTANDER: Moody's Affirms 'E+' Bank Fin'l. Strength RatingFIDEICOMISO FINANCIERO: Moody's Rates ARS192MM Debt Sec. at Ba3B R A Z I LBANCO DO ESTADO: S&P Assigns 'BB+/B' Rating; Outlook StableBANCO PAULISTA: Moody's Cuts Currency Deposit Ratings to 'B2'DRIVER BRASIL: Moody's Rates Mezzanine Shares at 'Ba2'C A Y M A N I S L A N D SARAB ISLAMIC: Shareholders' Final Meeting Set for Oct. 31BTR ARBITRAGE: Shareholder to Hear Wind-Up Report on Nov. 12BTR GLOBAL: Shareholder to Hear Wind-Up Report on Nov. 12BTR GROWTH: Shareholder to Hear Wind-Up Report on Nov. 12BTR OPPORTUNITY: Shareholder to Hear Wind-Up Report on Nov. 12EXPEDITION FUND: Shareholders' Final Meeting Set for Nov. 22EXPEDITION MASTER: Shareholders' Final Meeting Set for Nov. 22FLATIRON STRATEGIC: Shareholder to Hear Wind-Up Report on Nov. 15GLOBAL ADVISORS: Shareholders' Final Meeting Set for Oct. 28GLOBAL COMMODITY: Shareholders' Final Meeting Set for Oct. 28GLOBAL MANAGEMENT: Shareholders' Final Meeting Set for Nov. 12GLOBAL MASTER: Shareholders' Final Meeting Set for Oct. 28LEADERS FUND: Shareholders' Final Meeting Set for Nov. 8SC INDIA: Shareholders' Final Meeting Set for Oct. 29SG S&P: Shareholders' Final Meeting Set for Oct. 31J A M A I C ASTOCKS AND SECURITIES: Says Remaining Clients' Assets Are SafeM E X I C OGRUPO FINANCIERO: May Book More Losses on Home-Builder LoansMUNICIPALITY OF MEXICALI: Moody's Cuts Issuer Ratings to Ba2.mxS U R I N A M E* SURINAME: IMF Exec. Board Concludes 2013 Article IV ConsultationT R I N I D A D & T O B A G OCARIBBEAN AIR: Flight to JFK is OK if it Starts and Ends in PoSCARIBBEAN CEMENT: New Court Dates for TCL, Minority ShareholdersX X X X X X X X XBOND PRICING: For the Week From Oct. 21 to Oct. 25, 2013 - - - - -=================A R G E N T I N A=================BANCO SANTANDER: Moody's Affirms 'E+' Bank Fin'l. Strength Rating-----------------------------------------------------------------Moody's Latin America affirmed the E+ (plus) bank financialstrength rating (BFSR) of Banco Santander Rio S.A. (SantanderRio), which maps to a b3 standalone baseline credit assessment, aswell as its Ba3/Not Prime and Caa1/Not Prime global local-andforeign currency deposit ratings, and Aaa.ar and Ba1.ar nationalscale local and foreign currency deposit ratings. Additionally,Moody's affirmed the bank's (p)Ba3 and (p)B3 global local andforeign currency debt ratings, and the Aaa.ar and A2.ar local andforeign currency national scale ratings assigned to the $500million MTN multicurrency debt program, as well as the Ba3 andAaa.ar local currency debt ratings assigned to the issuances underthe program.The outlook on the bank's BFSR and local currency deposit and debtratings remains negative, in line with the negative outlook onArgentina's sovereign ratings. The outlook on the foreign currencydeposit and debt ratings remains stable.The following ratings of Banco Santander Rio were affirmed:Bank Financial Strength Rating: E+, negative outlookLong- and short-term global local-currency deposits: Ba3/NotPrime, negative outlookLong- and short-term foreign-currency deposits: Caa1/Not Prime,stable outlookLong- term global local currency MTN debt rating: (p)Ba3, negativeoutlookLong- term global foreign currency MTN debt rating: (p)B3, stableoutlookLong- term global local currency debt rating: Ba3, negativeoutlookLong-term National Scale local-currency deposit rating: Aaa.ar,negative outlookLong-term National Scale foreign-currency deposit rating: Ba1.ar,stable outlookLong-term National Scale local currency MTN debt rating: Aaa.ar,negative outlookLong-term National Scale foreign currency MTN debt rating: A2.ar,stable outlookLong term National Scale local currency debt rating: Aaa.ar,negative outlookRatings Rationale:In affirming Santander Rio's standalone ratings, Moody'shighlighted the bank's leading position in the Argentine bankingsector, with broad geographic and customer coverage that ensuresits 8.7% market share of private sector loans and 9.1% of privatesector deposits, the highest among private sector banks in thesystem. Santander's established market position supports recurrentand diversified earnings generation, as reflected in interestmargins at levels of 9% over the past four quarters and growingnon-interest income, which continue to strengthen the bank'scapitalization. However, the elevated inflation in Argentinaremains a key challenge for the bank, as it is for the wholebanking system, as reflected in rising operating costs anddeteriorating operating efficiency, at the same time thatregulatory restrictions on dividend distributions supports capitalaccumulation.Moody's noted that Santander's access to stable and low-cost corefunding is an important competitive advantage over its localpeers, and it has allowed it to expand its loan book considerablyto both consumer and corporations, while preserving its margins.Nevertheless, Moody's notes that the bank's loan to deposit ratiohas continued to rise over the past three years, reflectingincreasing competition for deposits, which may add pressure tomargins. Santander's large share of payroll accounts in partmitigates this deterioration, while creating opportunities forcross selling and origination of low-risk loans, which aides thebank's asset quality. In that regard, the bank's prudent riskmanagement practices are shown in its 1% non-performing loan ratioover the last quarters, below the system's average of roughly 2%,indicating adequate portfolio management, which incorporates theparent company's policies and risk appetite and adequate reservescoverage.Moody's, however, notes that the unfavorable operating environmentand the uncertainties introduced by a series of measures to thebanking system may constrain Santander's operations to the extentthe bank has to comply with mandated lending and caps on lendingrates and fees, among other regulations, which affect assetquality and profitability. The elevate inflation adds to thechallenges in the system.The bank's b3 BCA reflects Moody's assessment that thecreditworthiness of Santander Rio is highly correlated with thatof the government as for the whole banking system, consideringtheir dependence on the domestic macroeconomic and financialenvironment, as well as their direct and indirect exposures to thesovereign.Santander's deposit ratings benefit from three notches of supportfrom its b3 standalone BCA, to reflect Moody's assessment ofparental support from Banco Santander, S.A. (Santander Spain),rated Baa2 with negative outlook, as well as a high probability ofsystemic support derived from its importance to the bankingsystem. The rating also benefits from the influence and managementsupport of Santander Spain, which contributes in particular to thebank's risk and liquidity management policies and also brandstrength.The negative outlook on Santander's BFSR and the local currencydeposits and debt ratings is aligned to the negative outlook onArgentina's government bond ratings, and reflects the highcorrelation between the entity's credit profiles and that of theArgentine sovereign.FIDEICOMISO FINANCIERO: Moody's Rates ARS192MM Debt Sec. at Ba3---------------------------------------------------------------Moody's Latin America Calificadora de Riesgo rates the newstructure of Fideicomiso Financiero Supervielle Creditos 73, atransaction that will be issued by Equity Trust (Argentina) S.A. -acting solely in its capacity as Issuer and Trustee.As of Oct. 18, 2013, the securities for this transaction have notyet been placed in the market. If any assumption or factor Moody'sconsiders when assigning the ratings change before closing, theratings may also change.Moody's has withdrawn the ratings of the Certificates because theliability structure of the transaction has changed before issuanceand as a result the rating of the Certificates will change.Moody's has assigned new ratings to this tranche as follows. - ARS 192,000,000 in Floating Rate Debt Securities of "Fideicomiso Financiero Supervielle Creditos 73", rated Aaa.ar (sf) (Argentine National Scale) and Ba3 (sf) (Global Scale, Local Currency) - ARS 8,000,000 in Certificates of "Fideicomiso Financiero Supervielle Creditos 73", rated Caa2.ar (sf) (Argentine National Scale) and Caa3 (sf) (Global Scale, Local Currency)Ratings Rationale:The rated securities are payable from the cash flow coming fromthe assets of the trust, which is an amortizing pool ofapproximately 28,255 eligible personal loans denominated inArgentine pesos, with a fixed interest rate, originated by BancoSupervielle, in an aggregate amount of ARS 200,001,648.58These personal loans are granted to pensioners that receive theirmonthly pensions from ANSES (Argentina's National GovernmentalAgency of Social Security - Administracion Nacional de laSeguridad Social). The pool is also constituted by loans grantedto government employees of the Province of San Luis. BancoSupervielle is the payment agent entity and automatically deductsthe monthly loan installment directly from the employee's paycheckand pensioner's payment.Overall credit enhancement is comprised of 4% of subordination forthe Class A Floating Rate Debt Securities. In addition thetransaction has various reserve funds and excess spread.Moody's considered the credit enhancement provided in thistransaction through the initial subordination levels for eachrated class, as well as the historical performance ofSupervielle's portfolio. In addition, Moody's considered factorscommon to consumer loans securitizations such as delinquencies,prepayments and losses; as well as specific factors related to theArgentine market, such as the probability of an increase in lossesif there are changes in the macroeconomic scenario in Argentina.These factors were incorporated in a cash flow model in order todetermine the expected loss for the rated securities. Finally,Moody's also evaluated the back-up servicing arrangements in thetransaction.In assigning the rating to this transaction, Moody's assumed alognormal distribution for defaults on the main pool with a meanof 2.5% and a coefficient of variation of 50%. Also, Moody'sassumed a lognormal distribution for prepayments with a mean of25% and a coefficient of variation of 70%. These assumptions arederived from the historical performance to date of theSupervielle's pools. Servicer default was modeled by simulatingthe default of the Banco Supervielle as the servicer consistentwith its current rating of B2/Aa3.ar. In the scenarios where theservicer defaults, Moody's assumed that the defaults on the poolwould increase by 20 percentage points and a month of collectionswill be lost, given that the trust account is in BancoSupervielle.The model results showed 1.74% expected loss for the Floating RateDebt Securities and 35.03% for the Certificates.Moody's ran several stress scenarios, including increases in thedefault rate assumptions. If default rates were increased 4% fromthe base case scenario for the pool (i.e., mean of 6.5% and acoefficient of variation of 50%), the ratings of the Floating Ratedebt securities and the Certificates would likely be downgraded toB1 (sf) and C (sf) respectively.Moody's also considered the risk that a disruption in the flow ofpayments from ANSES or the Government of San Luis to pensionersand employees respectively, could severely affect the performanceof the pool. Moody's believes that the ratings assigned areconsistent with this risk.Finally, Moody's also evaluated the back-up servicing arrangementsin the transaction. If Banco Supervielle is removed as servicer,Equity Trust S.A. will be appointed as the back-up servicer.Moody's National Scale Credit Ratings (NSRs) are intended asrelative measures of creditworthiness among debt issues andissuers within a country, enabling market participants to betterdifferentiate relative risks. NSRs differ from Moody's globalscale credit ratings in that they are not globally comparable withthe full universe of Moody's rated entities, but only with NSRsfor other rated debt issues and issuers within the same country.NSRs are designated by a ".nn" country modifier signifying therelevant country, as in ".mx" for Mexico. For further informationon Moody's approach to national scale credit ratings, please referto Moody's Credit rating Methodology published in October 2012entitled "Mapping Moody's National Scale Credit Ratings to GlobalScale Credit Ratings".===========B R A Z I L===========BANCO DO ESTADO: S&P Assigns 'BB+/B' Rating; Outlook Stable-----------------------------------------------------------Standard and Poor's Ratings Services assigned its 'BB+/B' globalscale and 'brAA+/brA-1' national scale ratings to Banco do Estadodo Para S.A. (Banpara). The bank's stand-alone credit profile is'bbb-' and the outlook is stable.The ratings on Banpara reflect its "weak" business position,"strong" capital and earnings, "moderate" risk position, "aboveaverage" funding and "strong" liquidity."Under our bank criteria, we use our Banking Industry Country RiskAssessment's economic risk and industry risk scores to determine abank's anchor, the starting point in assigning an issuer creditrating. Our anchor is based on the country's economic risk scoreof '5' and an industry risk score of '4'. Brazil's economic riskreflects low GDP per capita, which limits its ability to withstandeconomic downturns, and household credit capacity. It alsoconsiders our view that economic imbalances have increased as aresult of rapid credit expansion. As this trend in lendingcontinues amid a slowly growing economy, we are concerned aboutincreasing household debt burden. Conversely, Brazil'simprovement in payment culture and rule of law, in addition tomoderate leverage in the corporate sector, and the absence ofhigh-risk loans in banks, somewhat mitigate the higher riskfactors of our economic risk assessment. We assess the currenttrend of economic risk as negative. Despite the slowdown in creditexpansion during 2012, we believe that the currentadministration's policies could lead to a new period of rapidcredit expansion. Further lending would increase an already heftydebt burden on households, subjecting the system to incrementalcredit risk," S&P said."We revised our industry risk score to '4' from '3' as we believethe industry risks in Brazil's banking sector have increased. Inour view, there are growing market distortions due to theincreased market share of loans from publicly owned banks during2012 and a growing spread differential between public and privatebanks. Our industry risk assessment still reflects extensivecoverage and effective supervision of the financial system and ourassessment of system wide funding, sustained by an adequate andstable deposit base," S&P added.S&P classifies Banpara as a government-related entity (GRE) with a"moderate" likelihood of government support, given its "strong"link and "limited importance" to the state. "This assessment isbased on the state government's majority control and influence inthe bank's strategy, but also on the fact that the services itprovides could eventually be replaced by another entity," saidStandard & Poor's credit analyst Vitor Garcia.BANCO PAULISTA: Moody's Cuts Currency Deposit Ratings to 'B2'-------------------------------------------------------------Moody's Investors Service has downgraded the long-term local- andforeign-currency deposit ratings for Banco Paulista S.A.(Paulista) to B2, from B1. At the same time, Moody's affirmed theE+ bank financial strength and lowered the baseline creditassessment (BCA) to b2, from b1. The long-term Brazilian NationalScale rating to Paulista was also downgraded to Baa3.br, fromBaa2.br. The outlook on all ratings remains stable.The following ratings for Banco Paulista S.A. were downgraded,with stable outlook:Long term global local-currency deposit rating: to B2, from B1Long term foreign currency deposit rating: to B2, from B1Long term Brazilian national scale deposit rating: to Baa3.br,from Baa2.brThe following ratings for Banco Paulista S.A. were affirmed:Bank Financial Strength at E+, stable outlookShort term global local currency deposit rating at Not PrimeShort term foreign currency deposit rating at Not PrimeShort term Brazilian national scale deposit rating at BR-3Ratings Rationale:In downgrading Banco Paulista's ratings, Moody's noted the shiftin business profile towards foreign exchange services, and awayfrom the commercial lending activity, which has resulted ingrowing earnings dependence on a single business line. Paulista'sdecision to gradually reduce its loan portfolio over the past twoyears has led to loans accounting for only about 12% of totalassets, generating an even lower percentage of revenues. Over thesame period, foreign exchange earnings have grown to account foraround two thirds of total revenues, as per Moody's estimates. Inaddition, Moody's understands that Paulista's niche foreignexchange activity that is centered in the import of BrazilianReais involves significant operational and compliance risks thatare difficult to anticipate, therefore limiting the visibility onfuture earnings performance. These risks become particularlyrelevant in light of the bank's higher dependence on thissegment's earnings. Finally, revenue growth potential in thissegment may be somewhat limited by Paulista's apparent sizeablemarket share.Moody's acknowledges Paulista's adequate recent profitabilitywhich, however, has benefited from volatile fee-based earningsfrom advisory and funds management services. Moreover, the loande-leverage promoted in the last two years has improved the bank'scapitalization, enhanced by a capital injection and Tier 2issuance that raised its capital ratio to very high 26.9% in2Q2013. In that regard, Moody's notes that capital allocation forthe foreign exchange service activity follows the regulatorystandardized approach to calculate operational risk, which isbased on a percentage of historical revenues generated by thatparticular product.The B2 global local-currency deposit rating derives from BancoPaulista's baseline credit assessment of b2, and as such, it doesnot incorporate any systemic support uplift.The last rating action on Banco Paulista S.A. occurred on 10 July2008, when Moody's assigned a bank financial strength of E+; andthe long- and short-term global local-currency (GLC) depositrating of B1 and Not Prime, respectively. The rating outlook wasstable.DRIVER BRASIL: Moody's Rates Mezzanine Shares at 'Ba2'------------------------------------------------------Moody's America Latina (Moody's) has assigned provisional ratingsto the shares to be issued by Driver Brasil Two Banco VolkswagenFundo de Investimento em Direitos Creditorios Financiamento deVeiculos (Driver Brasil Two FIDC or the Issuer), a securitizationbacked by a pool of auto loans originated by Banco Volkswagen S.A.Issuer: Driver Brasil Two FIDCSenior Shares - (P) Aaa.br (sf) (National Scale) & (P)Baa2 (sf)(Global Scale, Local Currency)Mezzanine Shares - (P) A1.br (sf) (National Scale) & (P)Ba2 (sf)(Global Scale, Local Currency)The provisional ratings address the structure and characteristicsof the transaction based on the information provided to Moody's asof October 23, 2013. Certain issues relating to this transaction,including the interest rate swap agreement, have yet to befinalized. Upon conclusive review of all documents and legalinformation as well as any subsequent changes in information,Moody's will endeavor to assign definitive ratings to thistransaction. If any assumptions or factors considered by Moody'sin assigning the ratings change, Moody's could change the ratingsassigned to the shares.RATINGS RATIONALEThe ratings are based on the following factors, among others:- The initial 10.0% credit enhancement for the Senior Shares and6% for the Mezzanine Shares in the form of overcollateralization(OC). After closing, the OC must reach the 12.5% Target Senior OCRatio and 7.0% Target Mezzanine OC Ratio to allow dividendpayments to equity.- Asset performance triggers that further increase the Senior andMezzanine Target OC Ratio.- Static nature of transaction with no revolving period and noadditional on-going purchases of assets after the transaction'sclosing. Principal and Interest on the Senior and Mezzanine Shareswill be paid on a monthly basis.- The discount rate used to calculate the NPV of the pool isderived from the weighted average financing cost of the Fund(weighted average rate of the swap agreements and servicing andadministrative fees), plus 198 bps of excess spread to cover netlosses.- Good credit quality of the static target pool earmarked for saleto the FIDC. The assets backing Driver Brasil Two FIDC are vehicleloans originated by Banco Volkswagen. The securitized pool willonly include loans to finance light vehicles; loans for trucks andheavy vehicles are not allowed. The preliminary pool as of July31, 2012 is highly diversified consisting of 57,156 borrowers.Approximately 91% of the loans are to finance the acquisition ofnew vehicles, and 9% of the loans finance used vehicles . Loansare extended to a diversified retail customer base of privateindividuals, representing 89.81% of pool balance. The originalweighted average term is 47 months. The pool has an averageseasoning of 14 months, resulting in a weighted average remainingterm of only 33 months.- The role of a highly rated third party, Banco Bradesco (ratedBaa1/Aaa.br) and its subsidiary, BEM DTVM, as master servicer,payment bank and trustee of the transaction. The transactionbenefits from Bradesco's operational quality;- The overall transaction structure and the legal framework,including the bankruptcy remoteness of the issuer and wellestablished Brazilian laws and regulations for the securitizationof vehicle loans;The senior and mezzanine shares will accrue a floating-rateinterest of the CDI Rate (Brazilian Interbank Rate) plus a fixedspread to be determined at closing, with daily accrual, and theirfinal maturity will take place 60 months after closing. Thematurity could be extended by the trustee, on a discretionarybasis, for a maximum period of 12 additional payment dates countedfrom the maturity date of the credit right with the latestmaturity date. Payments to subordinated shares are permitted on amonthly basis as long as (a) Target Senior OC Ratio, the Senior OCFloor, the Target Mezzanine OC Ratio and the Mezzanine OC Floorare maintained and (b) no evaluation or early liquidation event istriggered.Interest Rate SwapsThe transaction documents contemplate that the fund will enterinto interest rate swaps with a Brazilian financial institution(Banco Bradesco S.A., Ita� Unibanco S.A., Banco Santander (Brasil)S.A., or HSBC Bank S.A. -- Banco M�ltiplo) to mitigate theinterest rate risk arising from the fixed rate assets and floatingrate liabilities. According to the model provided by the bankerthe interest rate swaps will adequately hedge the interest raterisk on the senior share and mezzanine shares.Moody's notes that the interest rate swap will only be enteredbetween the fund and the hedge counterparty after closing of thefund. Moody's notes that it has not modeled any interest rate riskin the transaction, and that the assigned provisional ratingsassume that the interest rate swaps i.) will be in place in ashort period of time after closing of the fund and ii.) that theirnotional volume closely tracks the outstanding notional volumes ofthe senior and mezzanine shares as they decrease therebysatisfactorily eliminating actual interest rate mismatchesincurred.Early Swap TerminationRisk may arise from the early termination of the swaps given i.) apositive market value of the swap to the fund upon swapcounterparty default or ii.) open interest rate risk position tothe fund should the swap be early terminated.Moody's reviewed a preliminary interest rate swap masteragreement, which included a number of events of default and eventsof early termination upon which the swap may be terminated,exposing the fund to interest rate risk.Whilst in Moody's opinion the inclusion of the events of earlytermination/ event of default language is commensurate with theassigned provisional rating on the senior and mezzanine sharesgiven the remoteness of any such event occurring, the overalleffect of these triggers is viewed as a credit negative.Please refer to the Pre-Sale Report to be published inmoodys.com.br for further discussion of the mitigants to theseevents.Banco Bradesco S.A. will act as Master Servicer (custodiante) ofthe transaction as well as payment bank. Its responsibilitiesinclude, among other duties, verifying that all receivablespurchased by the fund meet certain eligibility criteria,monitoring the early amortization triggers, in addition tomanaging all of the Issuer's daily financial and operatingactivities.BEM DTVM S.A. (Banco Bradesco Group) will be the trustee. BRAMDTVM (Banco Bradesco Group) will be the fund manager.Banco Volkswagen (not rated by Moody's) will be the servicer. Itis an integral part of Volkswagen Financial Services AG (rated A3and P-2), in turn owned by Volkswagen Group AG (rated A3 and P-2).In assigning the ratings to this transaction, Moody's evaluatedhistorical performance data from January 1, 2005 and ending July31, 2013. Moody's key ratings-model assumptions for thistransaction include various performance statistics, including lognormal estimate of the annual loss rate with mean loss 5% and acoefficient of variation of 50%. Other model input assumptionsinclude a conditional prepayment rate of 15% per annum. Thediscount rate used for modeling was 15% per annum.Moody's has considered how the cash flows generated by thecollateral are allocated to the parties within the transaction,and the extent to which various structural features of thetransaction might themselves provide additional protection toinvestors, or act as a source of risk. In addition, Moody's hasanalyzed the strength of triggers to reduce the exposure of theportfolio to the originator/servicer bankruptcy.To determine the rating assigned to the Shares, Moody's has usedan expected loss methodology that reflects the probability ofdefault for each series of Shares times the severity of the lossexpected for the Shares. In order to allocate losses to the Sharesin accordance with their priority of payment and relative size,Moody's has used a cash-flow model (ABSCORE) that reproduces manydeal-specific characteristics: the main input parameters of themodel are described above. Weighting each loss scenario's severityresult on the Shares with its probability of occurrence, the modelhas calculated the expected loss level for each series of Sharesas well as the expected average life. Moody's model then comparesthe quantitative values to the Moody's Idealized Expected Losstable for each tranche.Parameter Sensitivities provide a quantitative, model-indicatedcalculation of the number of notches that a Moody's-ratedstructured finance security may vary if certain input parametersused in the initial rating process differed. The analysis assumesthat the deal has not aged. It is not intended to measure how therating of the security might migrate over time, but rather, howthe initial rating of the security might differ as certain keyparameters vary.Parameter sensitivities for this transaction have been calculatedin the following manner: Moody's tested nine scenarios derivedfrom the combination of mean loss: 5% (base case), 7.5% (base case+ 2.5%), 10% (base case + 5%). and coefficient of variation rate:50% (base case), 55% (base case + 5%), 60% (base case + 10%). The5% / 50% scenario would represent the base case assumptions usedin the initial rating process.At the time the rating was assigned, the model output indicatedthat Senior Shares would have achieved a Ba1 (sf) global ratingmodel output if mean loss was as high as 10% with a coefficient ofvariation of 60%. Under the same assumptions, the Mezzanine Shareswould have achieved Caa2 (sf) global rating model output.Key uncertainties relate to future asset performance under asevere stress scenario involving diminished economic growth and asharp rise in unemployment.==========================C A Y M A N I S L A N D S==========================ARAB ISLAMIC: Shareholders' Final Meeting Set for Oct. 31---------------------------------------------------------The shareholders of Arab Islamic Gateway Fund Ltd will hold theirfinal meeting on Oct. 31, 2013, at 2:00 p.m., to receive theliquidator's report on the company's wind-up proceedings andproperty disposal.The company's liquidator is: Ghassan Hitti c/o Alan de Saram CARD Corporate Services Ltd. Telephone: 949 4544 Facsimile: 949 8460 Zephyr House 122 Mary Street P.O. Box 709 Grand Cayman KY1-1107 Cayman IslandsBTR ARBITRAGE: Shareholder to Hear Wind-Up Report on Nov. 12------------------------------------------------------------The shareholder of BTR Global Arbitrage Trading Limited willreceive on Nov. 12, 2013, at 2:00 p.m., the liquidator's report onthe company's wind-up proceedings and property disposal.The company's liquidator is: Ogier c/o Jonathan Turnham Telephone: (345) 815 1839 Facsimile: (345) 949 9877BTR GLOBAL: Shareholder to Hear Wind-Up Report on Nov. 12---------------------------------------------------------The shareholder of BTR Global Prospector Trading Limited willreceive on Nov. 12, 2013, at 2:10 p.m., the liquidator's report onthe company's wind-up proceedings and property disposal.The company's liquidator is: Ogier c/o Jonathan Turnham Telephone: (345) 815 1839 Facsimile: (345) 949 9877BTR GROWTH: Shareholder to Hear Wind-Up Report on Nov. 12---------------------------------------------------------The shareholder of BTR Global Growth Trading Limited will receiveon Nov. 12, 2013, at 2:40 p.m., the liquidator's report on thecompany's wind-up proceedings and property disposal.The company's liquidator is: Ogier c/o Jonathan Turnham Telephone: (345) 815 1839 Facsimile: (345) 949 9877BTR OPPORTUNITY: Shareholder to Hear Wind-Up Report on Nov. 12--------------------------------------------------------------The shareholder of BTR Global Opportunity Trading Limited willreceive on Nov. 12, 2013, at 2:20 p.m., the liquidator's report onthe company's wind-up proceedings and property disposal.The company's liquidator is: Ogier c/o Jonathan Turnham Telephone: (345) 815 1839 Facsimile: (345) 949 9877EXPEDITION FUND: Shareholders' Final Meeting Set for Nov. 22------------------------------------------------------------The shareholders of Expedition Fund Limited will hold their finalmeeting on Nov. 22, 2013, at 4:00 p.m., to receive theliquidator's report on the company's wind-up proceedings andproperty disposal.The company's liquidator is: DMS Corporate Services Ltd c/o Nicola Cowan Telephone: (345) 946 7665 Facsimile: (345) 949 2877 dms House, 2nd Floor P.O. Box 1344 Grand Cayman KY1-1108 Cayman IslandsEXPEDITION MASTER: Shareholders' Final Meeting Set for Nov. 22--------------------------------------------------------------The shareholders of Expedition Master Fund Limited will hold theirfinal meeting on Nov. 22, 2013, at 4:00 p.m., to receive theliquidator's report on the company's wind-up proceedings andproperty disposal.The company's liquidator is: DMS Corporate Services Ltd c/o Nicola Cowan Telephone: (345) 946 7665 Facsimile: (345) 949 2877 dms House, 2nd Floor P.O. Box 1344 Grand Cayman KY1-1108 Cayman IslandsFLATIRON STRATEGIC: Shareholder to Hear Wind-Up Report on Nov. 15-----------------------------------------------------------------The shareholder of Flatiron Strategic Yield Ltd. will receive onNov. 15, 2013, at 3:45 p.m., the liquidator's report on thecompany's wind-up proceedings and property disposal.The company's liquidator is: Intertrust SPV (Cayman) Limited 190 Elgin Avenue, George Town Grand Cayman KY1-9005 Cayman Islands c/o Kim Charaman/Jennifer Chailler Telephone: (345) 943 3100GLOBAL ADVISORS: Shareholders' Final Meeting Set for Oct. 28------------------------------------------------------------The shareholders of Global Advisors International Limited willhold their final meeting on Oct. 28, 2013, at 11:00 a.m., toreceive the liquidator's report on the company's wind-upproceedings and property disposal.The company's liquidator is: Jess Shakespeare c/o Kinetic Partners (Cayman) Limited The Harbour Centre, 42 North Church Street P.O. Box 10387 Grand Cayman KY1-1004 Cayman Islands Telephone: (345) 623 9903 Facsimile: (345) 943 9900GLOBAL COMMODITY: Shareholders' Final Meeting Set for Oct. 28-------------------------------------------------------------The shareholders of Global Commodity Systematic Ltd will holdtheir final meeting on Oct. 28, 2013, at 10:30 a.m., to receivethe liquidator's report on the company's wind-up proceedings andproperty disposal.The company's liquidator is: Jess Shakespeare c/o Kinetic Partners (Cayman) Limited The Harbour Centre, 42 North Church Street P.O. Box 10387 Grand Cayman KY1-1004 Cayman Islands Telephone: (345) 623 9903 Facsimile: (345) 943 9900GLOBAL MANAGEMENT: Shareholders' Final Meeting Set for Nov. 12--------------------------------------------------------------The shareholders of Global Management Group Inc. will hold theirfinal meeting on Nov. 12, 2013, at 11:00 a.m., to receive theliquidator's report on the company's wind-up proceedings andproperty disposal.The company's liquidator is: Marcelo Aubone Gurruchaga 830, 5th Floor Buenos Aires Argentina Telephone: +5411 4129 8801GLOBAL MASTER: Shareholders' Final Meeting Set for Oct. 28----------------------------------------------------------The shareholders of Global Commodity Systematic Master Ltd willhold their final meeting on Oct. 28, 2013, at 10:30 a.m., toreceive the liquidator's report on the company's wind-upproceedings and property disposal.The company's liquidator is: Jess Shakespeare c/o Kinetic Partners (Cayman) Limited The Harbour Centre, 42 North Church Street P.O. Box 10387 Grand Cayman KY1-1004 Cayman Islands Telephone: (345) 623 9903 Facsimile: (345) 943 9900LEADERS FUND: Shareholders' Final Meeting Set for Nov. 8--------------------------------------------------------The shareholders of Leaders Fund will hold their final meeting onNov. 8, 2013, at 11:00 a.m., to receive the liquidator's report onthe company's wind-up proceedings and property disposal.The company's liquidator is: Alric Lindsay Artillery Court, Shedden Road P.O. Box 11371, George Town Grand Cayman KY1-1008 Cayman Islands Telephone: (345) 926 1688SC INDIA: Shareholders' Final Meeting Set for Oct. 29-----------------------------------------------------The shareholders of SC India Holdings Limited will hold theirfinal meeting on Oct. 29, 2013, at 9:30 a.m., to receive theliquidator's report on the company's wind-up proceedings andproperty disposal.The company's liquidator is: Gene Dacosta Telephone: (345) 945 3901 Facsimile: (345) 945 3902 P.O. Box 2681 Grand Cayman KY1-1111 Cayman IslandsSG S&P: Shareholders' Final Meeting Set for Oct. 31---------------------------------------------------The shareholders of SG S&P IFCI UAE Price Return Fund Ltd willhold their final meeting on Oct. 31, 2013, at 2:00 p.m., toreceive the liquidator's report on the company's wind-upproceedings and property disposal.The company's liquidator is: Ghassan Hitti c/o Alan de Saram CARD Corporate Services Ltd. Telephone: 949 4544 Facsimile: 949 8460 Zephyr House 122 Mary Street P.O. Box 709 Grand Cayman KY1-1107 Cayman Islands=============J A M A I C A=============STOCKS AND SECURITIES: Says Remaining Clients' Assets Are Safe--------------------------------------------------------------RJR News reports that the management of Stocks and SecuritiesLimited (SSL) has issued a response following action taken by theFinancial Services Commission (FSC) concerning aspects of itsoperations.The FSC issued directives to the securities dealer limiting itsactivities, according to RJR News. The report relates that itfollowed the transfer of its clients to JN Fund Management.In a statement, the report notes that SSL admitted that an auditis being conducted.However, it said this is normal given the sale of its repobusiness to JN last month, the report relays. The firm also gavethe assurance that its remaining clients' assets are safe andmanaged in keeping with FSC regulations, the report discloses.As reported in the Troubled Company Reporter-Latin America onOct. 25, 2013, RJR News said that Jamaica's Financial ServicesCommission (FSC) dispatched a team of auditors to the offices ofStocks and Securities Limited (SSL) -- a move that normallyindicates trouble in an institution. The report noted that FSCsaid its move to go into the offices of SSL is to "effectivelyassess the state of affairs" of the company. The FSC sought toassure former clients of SSL, who were transferred to JN FundManagers in July, that "the action taken in respect of SSL, willin no way affect them," RJR News related.Stocks and Securities Ltd. (SSL) is a privately-owned stockbrokerage house located in Kingston, Jamaica.===========M E X I C O===========GRUPO FINANCIERO: May Book More Losses on Home-Builder Loans------------------------------------------------------------Amy Guthrie at Daily Bankruptcy Review reports that GrupoFinanciero Banorte SAB could book an additional MXN1.8 billion($139 million) in potential losses over the next 15 months fromloans to troubled home builders, bank executives said.As reported in the Troubled Company Reporter - Latin America onOct. 3, 2012, Kris Hudson and Amy Guthrie at The Wall StreetJournal said that Mexico's new-home industry, still suffering fromthe global economic downturn and from shifting consumerpreferences, is bracing for yet another blow from a package ofsteep tax increases proposed by President Enrique Pena Nieto.President Pena Nieto, who took office in 2012, announced a rangeof proposed tax increases in September as part of his long-awaitedproposal to revamp the economy, according to The WSJ. PresidentPena Nieto said strategy for long-term growth is to raise newrevenue to fund new social programs and reduce Mexico's dependenceon oil revenue, The WSJ related. However, The WSJ noted that homebuilders are worried sales would be hurt by the measures,particularly President Pena Nieto's proposed new 16% "value added"tax that would apply to many home sales, mortgage interest andrents, among other consumer spending.Grupo Financiero Banorte SAB (GFNORTE) had reiterated to theinvestment public that it expects to continue adopting the bestinternational corporate practices regarding Corporate Governanceand information disclosure. The Financial Group had said itexpects to maintain its strategic and expansion plans toconsolidate a leading institution in Mexico; in this sense, totimely inform the investment community regarding the strategyexecution and evolution of its operations. * * *As reported in the Troubled Company Reporter-Latin America onMarch 26, 201, Fitch Ratings has affirmed Grupo FinancieroBanorte's and Banco Mercantil del Norte S.A.'s Viability ratings(VR) at 'bbb' and their long- and short-term Issuer DefaultRatings (IDRs) at 'BBB'/'F2', respectively. Ixe Banco, S.A.'s(Ixe) VR was upgraded to 'bb+' from 'bb'. The National scaleratings for these two banks, as well as those of certain non-banksubsidiaries that are driven by support from GFNorte, wereaffirmed at 'AA+(mex)' and 'F1+(mex)'. The Rating Outlook on thelong-term ratings of all these entities remains Stable.MUNICIPALITY OF MEXICALI: Moody's Cuts Issuer Ratings to Ba2.mx---------------------------------------------------------------Moody's de Mexico downgraded the Municipality of Mexicali's issuerratings to Ba2.mx (Mexico National Scale) and B3 (Global Scale,local currency) from Baa2.mx and B1, respectively. The outlookremains negative.At the same time, Moody's downgraded the debt ratings of themunicipality's MXN 814 million (original face value) enhancedloan, contracted with Banobras to Baa3.mx (Mexican National Scale)and B1 (Global Scale, local currency) from A2.mx and Ba2,respectively.Ratings Rationale:The rating action to downgrade Mexicali's issuer ratings wasprompted by the rapid deterioration in the municipality'soperating and liquidity metrics and the increase in its debtlevels.The gross operating margin declined to --18.3% of operatingrevenues in 2012, from 8.8% in 2008. Operating expenditure growthsharply outpacing revenue growth has been the main cause of thecontinuing deterioration. Operating expenditures grew by acompound annual growth rate (CAGR) of 9.3% between 2008 and 2012,while operating revenues showed a CAGR of only 2.4% in the sameperiod. Personnel and general services have driven operatingexpenditures. Given the operating margin deterioration, themunicipality has posted recurrent cash financing requirements.These reached a maximum of -14.8% of total revenues in 2012.Moody's anticipates this trend continuing into 2013. Moody'sexpects a further decrease in the municipality's operating marginand for the debt-to-revenue ratio to reach 58% for the year(against 40% in 2012), among the highest for Mexicanmunicipalities rated by Moody's.Liquidity levels have deteriorated and net working capital tototal expenditures was equivalent to -26.8% by year-end 2012.Mexicali has recurrently relied on short-term debt to meet theseliquidity gaps. Moody's views these trends as a signal of highercredit risk compatible with the Ba2.mx/B3 ratings.The negative outlook reflects the challenges to put in placestructural measures that will improve gross operating balances andliquidity without incurring further increases in debt levels.The rating downgrade of the MXN 814 million enhanced loan reflectsthe downgrade of Mexicali's issuer ratings. While the loanenhancements continue to provide a two-notch uplift from theglobal scale issuer ratings, per Moody's methodology on ratingenhanced loans, the loan ratings are directly linked to the creditquality of the issuer, which ensures that underlying contractenforcement risks, economic risks and credit culture risks (forwhich the issuer rating acts as a proxy) are embedded in theratings of the enhanced loans.What Could Change the Rating Up/Down:Given the significant deterioration in the municipality'sfinancials and liquidity, Moody's does not anticipate upwardpressure in the short-to-medium term. However, the rating outlookcould go back to stable if gross operating balances substantiallyincrease, liquidity is significantly improved and if cashfinancing requirements are reduced.Lack of any strengthening of gross operating balances andliquidity will exert downward pressure on the ratings. Also, ifdebt levels, in particular short-term debt levels, continue toincrease, the ratings could also face downward pressure.Given the links between the loan and the credit quality of theobligor, an upgrade of the Municipality of Mexicali's issuerratings would likely result in an upgrade of the ratings on theloan. Conversely, a downgrade of Mexicali's issuer ratings couldalso exert downward pressure on the debt ratings of the loan. Inaddition, the ratings could face downward pressure if debt servicecoverage levels fall materially below Moody's expectations.===============S U R I N A M E===============* SURINAME: IMF Exec. Board Concludes 2013 Article IV Consultation------------------------------------------------------------------On Sept. 30, 2013, the Executive Board of the InternationalMonetary Fund (IMF) concluded the Article IV consultation withSuriname.Suriname's macroeconomic performance has strengthened markedlyover the past decade. Since 2000, stronger policies and buoyantcommodity prices, supported by political stability, have helpedimprove macroeconomic performance, enabling Suriname to enjoyseveral recent upgrades from major ratings agencies. At thisjuncture, however, with gold prices declining after a longupswing, the main challenges are to strengthen institutions andadjust policies to avoid the onset of a boom-bust cycle.Growth remains robust while inflation has declined considerably.In 2012 Gross Domestic Product (GDP) grew an estimated 4.75percent; similar to 2011 and among the highest in the region,supported by buoyant commodity prices particularly gold. However,while export volumes for gold grew strongly, they were anemic forthe other two main commodities - oil and aluminum. Inflation hasdropped sharply, and stood at 2.5 percent in May 2013.Bank credit growth to the private sector has risen to a robust17.25 percent (year on year) in May 2013, led by trade and housingconstruction, with stable lending rates in both domestic andforeign currency. Financial intermediation remains low, however,with private sector credit at 26 percent of GDP in 2012.Commercial banks remain profitable and liquid. Non-performing loan(NPL) ratios are somewhat high, but declined from about 8 percentin 2011 to 7.1 percent currently.However, the fiscal position has weakened substantially. Theoverall fiscal balance fell by 5 percentage points to a deficit of4 percent of GDP in 2012. Much of the deterioration was due to ajump in current spending, including on subsidies. Fiscalpressures intensified further in the first quarter of 2013 as aresult of wage hikes and a pickup in capital spending. Whilemeasures have been taken since March to contain spending, theoverall deficit for 2013 is likely to be around 3 percent of GDP.Public debt remains low at 22 percent of the GDP.The external balance has also declined considerably. The currentaccount surplus declined by about 1.5 percentage points to anestimated 4.25 percent of GDP in 2012. In the first quarter of2013, the weakening intensified and a current account deficit wasrecorded, as the usual seasonal decline in receipts wasaccompanied by increased imports and declining commodity exportprices. International reserves dipped moderately but remainadequate at 4.25 months of imports. Executive Board AssessmentExecutive Directors welcomed Suriname's strong growth supported bysound policies and buoyant commodity prices. They noted, however,that the country's heavy reliance on commodity exports has exposedfiscal and external vulnerabilities. Directors stressed the needto build up buffers, promote fiscal sustainability, strengthen thefinancial sector, and enhance competitiveness.Directors welcomed the authorities' commitment to fiscalconsolidation. They recommended targeting a moderate fiscalsurplus over the medium term. Adjustment efforts should aim tostreamline expenditure on goods and services, moderate publicwages, improve the targeting of subsidies, and prioritize capitalprojects. It will also be important to ensure that the plannedsocial security scheme is fiscally sustainable.Directors commended the authorities' plans to strengthen thefiscal framework. The public financial management law whencompleted would provide a sound basis for a fiscal anchor andmedium-term expenditure ceilings. Directors also lauded effortsto establish a sovereign wealth fund and strengthen customs andtax administration, and recommended intensifying efforts toimplement a properly-designed value-added tax. Directors urgedcaution regarding the authorities' plans to purchase minoritystakes in two gold mining ventures financed by a sovereign bondissue.Directors supported monetary tightening in case fiscal measuresprove inadequate to contain demand pressures. They urged theauthorities to press ahead with plans to establish open marketoperations. Directors underscored the importance of prudentmacroeconomic policies to support the fixed exchange rate. Theyencouraged the authorities to remove the remaining multiplecurrency practices when the opportunity arises.Directors noted that the financial sector appears relativelysound, but urged vigilance over the rapid growth of credit. Theywelcomed the progress in overhauling the banking sector regulatoryframework and strengthening the Anti Money Laundering /Combatingthe Financing of Terrorism regime. They looked forward to theauthorities' plans to upgrade the insurance sector regulatoryframework, establish a credit bureau and a deposit insurancescheme, and reduce state ownership in the banking sector. Theyrecommended continued efforts to reduce dollarization.Directors underscored the need to boost competitiveness throughreinvigorated steps to strengthen the business environment. Theyalso recommended action to improve labor market flexibility.Directors looked forward to plans to upgrade the statistics lawand strengthen reporting requirements to help address data gaps.===============================T R I N I D A D & T O B A G O===============================CARIBBEAN AIR: Flight to JFK is OK if it Starts and Ends in PoS---------------------------------------------------------------Sasha Harrinanan at Trinidad and Tobago Newsday reports that theUnited States Department of Transportation (DOT) may have turneddown a request by Caribbean Airlines Limited (CAL) to operate anon-stop route between Georgetown, Guyana (GEO) and John F Kennedy(JFK) International Airport, New York, but the State-owned airlinehas told staff it's business as usual.According to a September 30, order, signed by Paul Gretch,Director of DOT's Office of International Aviation, CAL and fellowapplicant, Fly Jamaica, had not provided "compelling evidence"that adding this route would be in the public interest, accordingto Trinidad and Tobago Newsday.In an internal memo issued, October 21, CAL told staff: "We canfly any number of POS-GEO-JFK-GEO-POS services under the Trinidadand Tobago, and United States Air Service Agreement. However, wecannot operate stand-alone GEO-JFK-GEO; this means that ourflights must originate and terminate in POS," the report relates.The memo, a copy of which was obtained by Trinidad and TobagoNewsday, stated "there has been a lot of media coverage recently"highlighting DOT's denial of CAL's application to operate non-stopservices originating in GEO and destined to JFK.The report notes that the airline said this had unfortunatelyevoked confusion "in the minds of our customers and internally asrelates to our operations going forward." Hence the decision ofgovernment and the Industry Affairs department to clarify thingsvia the memo, the report discloses.The report says that CAL explained that getting approval of whatNewsday was informed is known as a "7th Freedom authority" is"considered extraordinary." Staff were told DOT had said CAL's"arguments presented did not meet their criteria for the grant ofsuch an approval and as such our application was denied," thereport relates.The report says that a question was posed within the memo abouthow this would affect the airline's current non-stop services."It does not," was the response. CAL then pointed out that it canstill operate "any number of" services between POS, GEO and JFKunder the TT and United States Air Service Agreement (USA ASA),once they "originate and terminate" in POS, the report notes.CAL began operating the POS-GEO-JFK and return flights in February2012.Caribbean Airlines Limited -- http://www.caribbean-airlines.com/-- provides passenger airline services in the Caribbean, SouthAmerica, and North America. The company also offers freighterservices for perishables, fish and seafood, live animals, humanremains, and dangerous goods. In addition, it operates a dutyfree store in Trinidad. Caribbean Airlines Limited was founded in2006 and is based in Piarco, Trinidad and Tobago. * * *As reported in the Troubled Company Reporter-Latin America on May20, 2013, Caribbean360.com said that Trinidad and Tobago FinanceMinister Larry Howai said Caribbean Airlines Limited recordedlosses estimated at US$70 million in 2012. In 2011, CAL hadrecorded losses of US43.7 million.CARIBBEAN CEMENT: New Court Dates for TCL, Minority Shareholders----------------------------------------------------------------RJR News reports that new dates have been set for the next roundin the legal battle involving Caribbean Cement Company Limited'sparent company, Trinidad Cement Limited (TCL) and a group ofminority shareholders.In a statement to shareholders and employees, TCL said the Courtof Appeal hearing will take place on November 13 while the HighCourt matter is scheduled for December 2. TCL wants the AppealCourt to overturn the injunction which was granted to theshareholders, hours before the company's annual meeting wasscheduled to start on July 12.The injunction forms part of a lawsuit in which the shareholdersare challenging a decision by TCL's directors to refuse to attachtheir proposal and statement to the proxy circular whichaccompanied the notice of the meeting. The group wants to nominatefive directors to TCL's board.As reported in the Troubled Company Reporter-Latin America onAug. 7, 2013, RJR News said that Caribbean Cement Company Limitedsuffered a consolidated loss of J137 million for the first sixmonths of 2013 down from J$1.2 billion during the correspondingperiod last year, according to RJR News. The report related thatthis year's loss resulted from J$701 million of non-cash foreignexchange losses compared to J$136 million in 2012.Caribbean Cement Company Limited manufactures and sells cement.=================X X X X X X X X X=================BOND PRICING: For the Week From Oct. 21 to Oct. 25, 2013-------------------------------------------------------- Issuer Coupon Maturity Currency Price ------ ------ -------- -------- -----Argentine GovernmentInt'l Bond 8.28 12/31/2033 USD 65Argentine GovernmentInt'l Bond 7.82 12/31/2033 EUR 63Argentine GovernmentInt'l Bond 7.82 12/31/2033 EUR 62.5Argentine GovernmentInt'l Bond 8.28 12/31/2033 USD 63.5Provincia de BuenosAires/Argentina 9.625 4/18/2028 USD 67.691Empresa Distribuidora YComercializadora Norte 9.75 10/25/2022 USD 52Capex SA 10 3/10/2018 USD 71.25Banco Macro SA 9.75 12/18/2036 USD 76.9Transener SA 9.75 8/15/2021 USD 52.78Argentina Boden Bonds 2 9/30/2014 ARS 8.49Argentina Bonar Bonds 20.6633 1/30/2014 ARS 11.27Argentine GovernmentInt'l Bond 1.18 12/31/2038 ARS 4.96Cia Latinoamericanade Infraestructura & Servic 9.5 12/15/2016 USD 65Inversora de Electricade Buenos Aires SA 6.5 9/26/2017 USD 33.875Argentine GovernmentInt'l Bond 8.28 12/31/2033 USD 64Empresa DistribuidoraY Comercializadora Norte 10.5 10/9/2017 USD 53Argentine GovernmentInt'l Bond 8.28 12/31/2033 USD 64.125Argentina Bocon 2 3/15/2014 ARS 3.53Banco Macro SA 9.75 12/18/2036 USD 76.25Capex SA 10 3/10/2018 USD 73.375Argentina Bocon 2 1/3/2016 ARS 7.92Argentina Bocon 2 3/15/2024 ARS 15.56Argentine GovernmentInt'l Bond 7.82 12/31/2033 ARS 45MetroGas SA 8.875 12/31/2018 EUR 68.75Empresa DistribuidoraY Comercializadora Norte 9.75 10/25/2022 USD 51.25Argentine GovernmentInt'l Bond 4.33 12/31/2033 USD 35Provincia de BuenosAires/Argentina 9.625 4/18/2028 JPY 68Transener SA 9.75 8/15/2021 USD 50Banco Macro SA 9.75 12/18/2036 USD 75Argentine Government Int'l Bond 0.45 12/31/2038 USD 8Argentine GovernmentInt'l Bond 4.33 12/31/2033 JPY 35MetroGas SA 8.875 12/31/2018 JPY 65.375Banco Hipotecario SA 3.95 8/14/2017 USD 69.75Provincia del Chaco 4 12/4/2026 USD 31.375Formosa Province of Argentina 5 2/27/2022 USD 68.25Provincia del Chaco 4 11/4/2023 USD 59.875Argentine RepublicGovernment International Bon 5.83 12/31/2033 USD 21.65BR Cia Energeticade Sao Paulo 9.75 1/15/2015 ARS 67.234Gol Finance 8.75 USD 63.5Sifco SA 11.5 6/6/2016 USD 47.125Gol Finance 8.75 USD 62SMU SA 7.75 2/8/2020 USD 66SMU SA 7.75 2/8/2020 63.2Cia Sud Americanade Vapores SA 6.4 10/1/2022 USD 64.7677Talca Chillan SociedadConcesionaria SA 2.75 12/15/2019 CLP 61.2163AlmendralTelecomunicaciones SA 3.5 12/15/2014 CLP 33.1948Cia Cervecerias Unidas SA 4 12/1/2024 CLP 59.3633Empresa de Transportede Pasajeros Metro SA 5.5 7/15/2027 CLP 3.69218Aguas Andinas SA 4.15 12/1/2026 CLP 72.9238Hidili IndustryInternational 8.625 11/4/2015 USD 74.75Development LtdRenhe CommercialHoldings Co Ltd 13 3/10/2016 USD 62.55Renhe CommercialHoldings Co Ltd 11.75 5/18/2015 USD 67.507China ForestryHoldings Co Ltd 10.25 11/17/2015 USD 36.375Renhe CommercialHoldings Co Ltd 13 3/10/2016 USD 61.75Hidili IndustryInternational Development 8.625 11/4/2015 USD 72.75LtdChina ForestryHoldings Co Ltd 10.25 11/17/2015 USD 36.375Renhe CommercialHoldings Co Ltd 11.75 5/18/2015 USD 67.625Global A&TElectronics Ltd 10 2/1/2019 USD 68.125Global A&T ElectronicsLtd 10 2/1/2019 USD 68.375Bank AustriaCreditanstaltFinance Cayman Ltd 1.614 EUR 56.95BCP Finance Co Ltd 5.543 EUR 28.875BES Finance Ltd 5.58 EUR 61.7Bank Austria CreditanstaltFinance Cayman Ltd2 1.838 EUR 56.827ESFG International Ltd 5.753 EUR 50.75BCP Finance Co Ltd 4.239 EUR 28.767BES Finance Ltd 4.5 EUR 56.438Caixa Geral DeDepositos Finance 1.021 EUR 30.55Banif Finance Ltd 1.591 EUR 44Banco FinantiaInternational Ltd 2.475 7/26/2017 EUR 44.05BES Finance Ltd 3.058 EUR 73.875ERB Hellas CaymanIslands Ltd 9 3/8/2019 EUR 42.125BCP Finance Bank Ltd 5.31 12/10/2023 EUR 67.5BCP Finance Bank Ltd 5.01 3/31/2024 EUR 64.625Banco BPI SA/Cayman Islands 4.15 11/14/2035 EUR 45.625Mongolian Mining Corp 8.875 3/29/2017 USD 74.75Puerto Rico Conservation 6.5 4/1/2016 PR 53Petroleos deVenezuela SA 9.75 5/17/2035 USD 73.25Petroleos deVenezuela SA 5.375 4/12/2027 USD 55Venezuela GovernmentInternational Bond 8.25 10/13/2024 USD 70.5Venezuela GovernmentInternational Bond 9.25 5/7/2028 USD 74.5Petroleos deVenezuela SA 5.5 4/12/2037 USD 54.25Venezuela GovernmentInternational Bond 6 12/9/2020 USD 69.75Venezuela GovernmentInternational Bond 7 3/31/2038 USD 62.25Venezuela GovernmentInternational Bond 7.65 4/21/2025 USD 67.5Petroleos deVenezuela SA 9.75 5/17/2035 USD 72.5Bolivarian Republicof Venezuela 7 3/31/2038 USD 62.157 ***********Monday's edition of the TCR-LA delivers a list of indicativeprices for bond issues that reportedly trade well below par.Prices are obtained by TCR-LA editors from a variety of outsidesources during the prior week we think are reliable. Thosesources may not, however, be complete or accurate. The MondayBond Pricing table is compiled on the Friday prior to publication.Prices reported are not intended to reflect actual trades. Pricesfor actual trades are probably different. Our objective is toshare information, not make markets in publicly traded securities.Nothing in the TCR-LA constitutes an offer or solicitation to buyor sell any security of any kind. It is likely that some entityaffiliated with a TCR-LA editor holds some position in theissuers' public debt and equity securities about which we report.Tuesday's edition of the TCR-LA features a list of companies withinsolvent balance sheets obtained by our editors based on thelatest balance sheets publicly available a day prior topublication. At first glance, this list may look like thedefinitive compilation of stocks that are ideal to sell short.Don't be fooled. Assets, for example, reported at historical costnet of depreciation may understate the true value of a firm'sassets. A company may establish reserves on its balance sheet forliabilities that may never materialize. The prices at whichequity securities trade in public market are determined by morethan a balance sheet solvency test.A list of Meetings, Conferences and Seminars appears in eachThursday's edition of the TCR-LA. Submissions about insolvency-related conferences are encouraged. Send announcements firstname.lastname@example.com ***********S U B S C R I P T I O N I N F O R M A T I O NTroubled Company Reporter-Latin America is a daily newsletterco-published by Bankruptcy Creditors' Service, Inc., FairlessHills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C.,USA, Marites O. Claro, Joy A. Agravante, Rousel Elaine T.Fernandez, Valerie U. Pascual, Julie Anne L. Toledo, Frauline S.Abangan, and Peter A. Chapman, Editors.Copyright 2013. All rights reserved. ISSN 1529-2746.This material is copyrighted and any commercial use, resale orpublication in any form (including e-mail forwarding, electronicre-mailing and photocopying) is strictly prohibited without priorwritten permission of the publishers.Information contained herein is obtained from sources believed tobe reliable, but is not guaranteed.The TCR Latin America subscription rate is US$775 per half-year,delivered via e-mail. Additional e-mail subscriptions for membersof the same firm for the term of the initial subscription orbalance thereof are US$25 each. For subscription information,contact Peter A. Chapman at 215-945-7000 or Nina Novak at202-241-8200. * * * End of Transmission * * *


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Data source questions provide a way of including stored data in your generated document. Data source questions retrieve records or rows from an external source such as a database table, view, stored procedure, XML data source, Web Service or other data system or line of business applications.
In some cases, a data source may be called on to retrieve a single data row, while multiple data rows are needed for other situations. For more information about managing data sources, refer to Data Source Selection Types and Display Types.
The data source question allows a wide range of scenarios to connect to, join, filter and sort data in a variety of ways to populate generated documents or to retrieve values for drop-downs or search in your web forms. For more information about managing data sources, refer to Data Filtering and Sorting.
Connections to data sources are handled in Manage. For more information about managing data sources, refer to Data source connection and connection types.
Often data records can be selected and consumed in a document without any user interaction. This is useful both for web form driven documents and for documents that are automatically generated without any user interaction.
Key fields defined in 'Manage' are used to filter and sort the data, which enables large data sets to be reduced to a more manageable and focused list. This can be used to join multiple datasets using primary/foreign key relationships.
How to add a data source question
- From the toolbox, drag and drop a data source question onto a page, section column or tab and set the question's properties as below.
Question Text
Type in the question you want to display.
Text Position
The options are:
Data Source
Choose from:
*Repeating Page/Section
Choose the Data Object to display (must be setup in Manage)
Determines whether the records retrieved from the data source are displayed to the end user in 'Produce' for selection, or included in the document without user interaction. Check or uncheck as needed. This option is checked by default.
Determines if the question is to retrieve a single or multiple rows from the data source. Optionally, If the Data Grid Appearance option is selected (see below), a (None) Selection option is available. This must be selected when using Data sources in dashboards where the operations drop down and linking features are desired.
The options are:
Auto Complete: (Single Selection Only) Provides a list of data which contains the letter or word that has been entered into the text box from which the required entity can be selected. Additional options are available when this option is selected (see below).
Drop-down List: This presents the data in a drop-down list.
Data Grid: Presents a search interface as above in a separate pop-up window useful for using within smaller question areas such as columns. - This will open up a new field called Grouping Field. When displayed this field will group the rows.
Pop-up Window: Presents a search interface as above in a separate pop-up window useful for using within smaller question areas such as columns.
Search: Presents a search interface with search fields available based on specially marked key fields, as set up in 'Manage'.
List Box: (Multiple Selection Only) A box containing the various data source entries in a select-able format.
Display Field
Defines which field to display to the end user when using a drop-down list or auto complete appearance.
Unique Field
Assign unique values.
Grouping Field (Data Grid only)
Groups the data in sections based on equal values of the defined field.
Value Field
Defines which field to use to identify the selected record. This should be set to a field containing unique values, such as a primary key, e.g. 'ClientID'.
Allow Select All (Multiple Select "Search" and "Data Grid" Only)
Controls the display of "Select All" and "Select None" buttons to allow the user to quickly select or deselect all rows.
This option lets you determine if a question is mandatory or not. This option unchecked by default.
Default Type
The options are
(None) Default Index
*Default Value
Watermark (Auto Complete Only)
A watermark to display on the auto complete box.
Min Characters (Auto Complete Only)
This option determines the minimum number of characters that a user must type into an Auto Complete data source field before the data source is triggered. This is a useful feature when using data sources that contain large amounts of data to retrieve.
No Data Text (Auto Complete Only)
This is the message that the data source will display if not enough characters are provided.[MinCharacters] can be used in the message to reference the appropriate value at run time e.g "Enter at least [MinCharacters] characters to find a result"
Help Text
Help text can be added to give additional information about what is being requested in the question. This is a rich-text box.
Check this box to allow comments. It is unchecked by default.
The options are:
Alert (error) Alert (info)
Alert (success) Alert (warning)
Jumbotron Label (default)
Label (error) Label (info)
Label (primary) Label (success)
Label (warning) Well
Find Dependencies
Clicking this link will open a pop-up window that will show any dependencies that this label has.
(*) When the user entered filter has yielded no results a customisable message can be displayed.
For example, when you search for people you might want to prompt the user with 'No Staff found containing asdfasgasgfdasg in their surname, try another search term'.
To configure the message use the property [userEnteredFIlter] to reference what the user has typed at runtime.
No staff found containing [userEnteredFIlter] in their surname, try another search term.
Data can be used to drive a repeated placeholder, which copies down a block of the document or set of table rows for each data row returned by the data source. For each data row, the repeated placeholder and all its contents are copied down and populated by each data field answer added to the data source question.
It's also possible to nest child data within a parent multi-row data source, and have the child also repeat its own placeholder within the parent block. A good example of this is presenting a list of classes each with its own list of students.
For single record data sources, insertion or selection placeholders can be used throughout the document to specify where the record's data fields are to be inserted. For example:
When using a multi-row data source, insertion or selection placeholders are once again used to specify where the individual data fields of each record are to be inserted. Additionally, a repeat placeholder must be created to specify which block of document content to repeat for each data row that is retrieved. The repeat placeholder can surround one or more table rows, one or more paragraphs or even span pages. For example:
Questions that are not visible to the end user in 'Produce' generally require a data filter to ensure that only the correct record is included in the document
automatically adds an answer to the new question. Set the answer's properties as below:
Data field
The data field or column of the table, view, query or method to retrieve from the data source. Select a data field, or one of the special types as follows:
•[Formula]: A calculation to perform on the row, e.g. '[AnnualPremium]/12'.
•[Aggregate]: Multiple records selection type only. A calculation to perform on multiple records, e.g. 'Contains([q1], "Test")'.
•[RowCount]: The total number of records selected.
•[RowNumber]: The index of the current record.
Data Convert
Allows you to manipulate the data retrieved into a useable format. The following conversion options are available:
•Date: converts a field into a date for calculations or formatting, based on the Pattern provided. See Pattern below for more information.
e.g. convert '20200101' to 'Wednesday 1 January 2020'.
•Number: converts a field into a number.
e.g. convert the text '1' to the number 1.
•Image: converts the field content into an image, if it is stored as binary or base64 data, or as a local or UNC path reference.
e.g. convert the filename 'c:\temp\img.jpg' into an embedded image.
•Text: converts a field into a text format. As all conversions trim any leading or trailing white space characters from the data, this conversion is useful for trimming string data before use.
e.g. convert the fixed width ID field '9060 ' to the trimmed text '9060'.
•Html/Rich Text: converts a field with html tags into a text with the tag properties applied to it
•e.g. convert the text 'Example for Bold' to 'Example for Bold'
Date data convert only. The pattern in which a date/time value is retrieved from the data source using date and time components similar to format strings.
For example, a date stored as '20113101' can be matched with a pattern of 'yyyyddMM'. Similarly, a time stored as '1801' can be matched with a pattern of 'HHmm'.
Refer to Format strings for a reference of component syntax to build your patterns.
Max Height/Width
Image data convert only. Specify the maximum height and width for the image.
Image data convert only. Specify the units in which the max height and width are specified.
Stretch to Fit
Image data convert only. Stretches the image to exactly fit the size specified by max height and width. Note that images are always proportional within the boundaries specified.
From the Placeholders tab, drag and drop any placeholders onto the answer that are to be populated by the data field.
Add additional answers for each data field required, repeating steps 2 and 3.
To ensure the quality of retrieved data,
Often Data Source validation is used in automatic or bulk generation scenarios where data is passed by a third party system for document generation without user interaction
Data validation rules are applied in the same manner as text field validation; for more information see Text Field - Question Type.
Data source questions can be used to control if pending questions are displayed or hidden from the user ( i.e. to set conditions). The behavior differs lightly between single and multiple-row selection types.
Single Row Data Sources
If the data source question is retrieving a single record form its source, a condition can be set by selecting the conditions tab of the child question and using the dialog to configure the condition, or with a drag and drop motion.
•Conditions are case sensitive
•If you wish to have the child question on the same page as its parent the data sources display type must be Drop Down.
Multiple Row Data Sources
A multiple-row data source question works much the same as a single-row data source however, when the condition is evaluated it will check all selected rows against the condition. If any selected row meets the rule the condition it will be evaluated as true.
•Conditions are case sensitive.
•Child questions must be on different pages.
When not to use a unique field
The unique value field defines which field to use to identify the selected record. This should be set to a field containing unique values, such as a primary key, e.g. 'ClientID'.
Using a scenario where you want to build a repeating section that's driven by an employee record using a data-driven repeating section.
If you selected the First Name field as a unique value in the data source question. Because this isn't a unique field as the data in the column can potentially be the same e.g. duplicate first names. You would get an inconsistent result and that's because
In Design I have set the unique field to the First Name field (which is an incorrect setup). I'm using that Data Source to drive my employee details section and displaying the fields with labels.
On the first load this loads as expected, the client IDs and first name are displayed correctly
However, If you then change what employee records you want to bring back. The data-driven repeating section will now be incorrect, the order will be wrong and the employee names will match up against the wrong ID's etc. The reason why this happens is that the data source is updating by a field that isn't unique. The fix to this issue is changing the unique field to Employee ID as that is truly a unique field and the rows will update accordingly.
When to use a unique field
Use a unique field if the data source results can change between runs. The default is to save a selected index which assumes the data is the same between runs. It is also the fastest as it doesn't need to fetch the data while setting up the question. Unique fields save the value of that column to the answer file, and when it is reloaded it will attempt to find the row that has that value again. Where ever it might be.
Remember a unique field must be truly unique there can't be duplicates of the same value in the data field
In the Display Field drop down, "[Answer]" is available for selection. If a user selects "[Answers]", an additional drop-down will appear called 'Answer Field'. Answer field lists all the answers which have been added to a data source question.
The advantage of selecting an answer field is that you can use "[Formula]". Within formula you can use any supported formula, the most useful being "=concat( )".
Data Source Example
- Add first name answer
- Add last name answer
- Add new answer and name it Concat.
- In the Concat answer, select formula.
- In the formula text box, type in =concat and then use the question reference tool to select the answers.
The resulting formula would look something like this:
=Concat(q1.First_Name, " ", q1.Last_Name)
User-entered data filters allow data sources to be called as a user types and displays the resulting records as a list of suggestions for the user to (hopefully) find an appropriate item to select. They work in conjunction with the 'Auto Complete' data source display type as depicted in the screenshot below that suggests suburbs based after receiving a partial or full postcode.
A typical use for a user-entered data filters are address searches where a data source is responsible, accepts part of an address, searches against what is typed, and attempts to match it to a real address. For example, a user might type '123 Fake Street' but select '123 Fake Street, Hartford, CT 20600' as their actual address. In all cases, it is the responsibility of the data source to process the user entered filter into a real result.
Notes and Best Practices:
The auto complete question does not need a user filter. Where a user filter is not specified the entire list is pre-loaded and the suggestion list is populated based on a string match. For example, a small data set such as a list of countries the data can be loaded in its entirety and a search term such as 'United' might suggest United States of America, United Arab Emirates, etc...
Use this question type sparingly. The existing auto complete data question does a text match of an existing dataset and is sufficient for many scenarios.
When you make a selection from a result set, the search term you typed is saved in the answer file. When the project is saved and resumed at a later date, the call to the data source can be made again to return the same result. However, if a change has been made to the database or if you delete the information and begin a new search, you may get different results.
In the client app, the question is only enabled in online mode.
Not all data sources are designed to return a result set from a partial search term. Only data sources that suit this scenario are appropriate.
How to add a user-entered data filter
- Open or create a new Project in Web Design.
- Add a data source and configure its properties, specifically specifying 'Auto Complete' as the display type and choosing an appropriate data source.
- Navigate to the Data Filters tab and specify the data filter for which should be populated as the user types (i.e. a User Entered).
Filter Field
A Filter Field is a field that you would filter records by. For example, ID, CustomerNumber, TransactionDate etc. The fields specified as Filter Fields appear in Design within the Data Filters Tab.
Display as Filter Field Check Box
If you're using a data source search question, Filter Fields can appear in the Produce interface allowing end users to search for a particular record(s). Use this check box to configure this field as such.
Custom Fields
Custom fields are generally associated with XML data sources and allow data to be filtered by a parent node or attribute. For example, when accessing the <AddressMail> node from the following XML structure, a custom key field can be used to ensure only the address according to a particular <customerID> is selected.
<addressLine1>123 Fake Street</addressLine1>
<addressLine1>321 Long St</addressLine1>
Display Fields
Display fields allow the administrator to specify which fields will be seen by the end user in Produce when the 'Search' Display type is used. This feature is useful for hiding unnecessary or sensitive information.
If your data source returns a data field and you need to remove unneeded characters,
- left()
- right()
- substring()
Left() and Right() take the leftmost/rightmost characters of a field, whereas subString() extracts the inner parts.
For example if the field 'AABBCC (OCT 2005)' was returned by a data source:
- left([YOURREF],6) would return 'AABBCC'
- right([YOURREF],10) would return '(OCT 2005)'
- subString([YOURREF],9,8) would return 'OCT 2005'
- use the trim() function to clean up any unneeded white space.
Often, fields retrieved from a data source contain leading and trailing spaces. A few options are available for removing such spaces from fields returned from a database.
Options are not limited to the data source question and can be applied to most other question types.
Option 1 – Text Data Convert
For each answer of your data source using the Data Convert drop down to convert it to the 'Text' type. This feature removes any spaces before the field is processed so any subsequent references to this answer will not contain extra spaces.
Option 2 – Trim Format String
Select or enter 'TRIM' in the format string field in of the answer to remove the extra spaces this will be removed when the field gets inserted into the document.
Option 3 – Trim() Function
The trim() function can be used by itself or nested within another function.
concat("Your Surname is: ", trim([Q1.FamilyName]))
When not to use a unique field.
The unique value field defines which field to use to identify the selected record. This should be set to a field containing unique values, such as a primary key, e.g. 'ClientID'.
Using a scenario where you want to build a repeating section that's driven by an employee record using a data-driven repeating section.
If you selected the First Name field as a unique value in the data source question. Because this isn't a unique field as the data in the column can potentially be the same e.g. duplicate first names. You would get an inconsistent result and that's because
In Design, set the unique field to the First Name field (which is an incorrect set up).The example is using that data source to drive the employee details section and display the fields with labels.
On the first load, it will load as expected, the client IDs and first name are displayed correctly.
However, If you then change what employee records you want to bring back. The data-driven repeating section will now be incorrect, the order will be wrong and the employee names will match against the wrong ID's etc. This happens because the data source is updating from a field that isn't unique. The fix to this issue is changing the unique field to Employee ID as that is truly a unique field and the rows will update accordingly.
When to use a unique field.
Use a unique field if the data source results can change between runs. The default is to save a selected index which assumes the data is the same between runs. It is also the fastest as it doesn't need to fetch the data while setting up the question. Unique fields save the value of that column to the answer file, and when it is reloaded it will attempt to find the row that has that value again. Where ever it might now be.
Remember a unique field must be truly unique; there can't be duplicates of the same value in the data field
Designers can select a display type of Data Grid for a data source. This display type is similar to a search question type with additional options such as pagination, sorting, search and a formula display fields.
If you have Data Grid display type you will be presented with the following additional options on the data source panel:
Data Grids have the following specific properties
Selection type of (None)
This behaves like an uneditable data source, it is not possible to select a row.
Results Per Page
How many rows will appear on each page of the data source.
Show Search
Checking this option enables a search text box to appear above the data grid.
Grouping Field
Groups rows with the same data in the selected column.
Display field 'Formula'
This allows a designer to enter a formula which will resolve per row of the data source. This is potentially slow as it is not cached in any way and is done after data has been fetched if you have a lot of rows and a complex formula it could take a long time.
Column Title
This allows a designer to specify the column title.
Arrows will appear if sorting options if this is checked
Live Refresh
Enables the data source to continually update itself
Note: Live Refresh applies to Dashboard projects only
Refresh Period
The timer in second before the data source refreshes itself
Operations such as (delete, reassign, unlock etc) and links (open, view history, load last answer etc) are available in
Data Grid Operations Apply to Data Grids in Dashboard Projects only
These data grids and data sources can be used in Content project types, but the Links and Operations options will not appear.
When designing the data grid
In the Display Fields for a data grid of the right type two additional fields will appear
- Link - this is a drop-down with only a couple of options (eg: Launch Project, Launch History etc) that vary from the data object to data object. Adding a Link to a display field will cause a link to that behavior to appear on the display field when the data grid appears in Produce.
- The appropriate selections must be made when adding or updating the Display Field item. If Links are available a column will appear to show which Display Field the link is attached to and which Link is attached.
- If the link type is Launch for a new project, then an Include Parameters option will appear. If this option is checked, an input table will be available which can be used to add parameters to the link.
- Operations Dropdown - this is a checkbox which when selected causes a dropdown to appear in the selected display field column of the data grid in Produce. The drop-down only appears if there is an operation available on that line of the data object, and only available operations will appear - possible operations include Delete, Reassign, Unlock etc.
When the data grid is displayed
- Links will appear on the text of any field of a Dashboard project data grid that has had a link type selected. If Link Parameters have been set up for these links they will be passed through to the new form when the link is click.
- After the link is clicked, the back button will return the user to the Dashboard project they came from
- Links may not appear if the current user does not have permission to link to that list item (eg: it is locked by another user etc)
- Operations appear as a drop-down in the selected field/column of any Dashboard project data grid that has had Operations Dropdown checked
- The form designer does not control what items appear in the Operations drop-down. Depending on the data object type the operations may vary - see the list below
- For User type data objects, the operations that appear are only those the current user can perform on the listed items.
- For Admin type data objects, all possible operations will appear but will not execute if the current user does not have permissions to perform those operations.
User: Answer Files
Launch Saved Answer
User: Documents
Download Document
User: Form Activity
Launch Project; Launch History
User: Available Forms
Launch Project
User: Individual and Group Tasks
User: Individual Tasks
User: Group Tasks
Admin: In Progress Tasks
Possible Operations:
User: Answer Files
Resubmit; Delete
User: Documents
User: Form Activity
User: Available Forms
Reload the last answer
User: Individual and Group Tasks
Unlock; Reassign; Delete
User: Individual Tasks
Unlock; Reassign; Delete
User: Group Tasks
Unlock; Reassign; Delete
Admin: In Progress Tasks
Unlock; Reassign; Delete
Data Grids may include parameters as part of the launch link. This works for
When the launch link type is selected, the option to Include Parameters is available. Checking this option opens an input grid to which you can add parameter names and values. The values can be entered as formulas and question references as needed.
When the Data Grid is displayed in the dashboard, the parameters will be included in the link URL and will be integrated by the newly opened form if required.
Updated 2 months ago

subset: commoncrawl


text:
As someone who's struggled with my weight my entire life, I've always felt like everyone on TV looked different than me. I've read plenty of books about young people with similar experiences as mine, but there has never been a TV show that so accurately conveys it. That's why the brand new Hulu mini-series "Shrill" is so refreshing.
"Shrill" is based on the book "Shrill: Notes from a Loud Woman," by Lindy West. The show was created by West, SNL star Aidy Bryant, and Ali Rushfield, and follows the life of a young 20-something named Annie Easton (played by Bryant). Annie is a plus-size woman who works as a writer at an alt-weekly in Portland, Ore., where she is not allowed to write articles, but instead is stuck editing calendar listings. She lives in a brightly decorated house with her best friend, Fran (Lolly Adefope), a hairdresser and lesbian serial dater. When Annie is not working, she's hooking up with a guy named Ryan (Luka Jones), who is notoriously flaky and makes her crawl through the bushes in his backyard to enter and exit his house, scared that his roommates will see her. To top it all off, Annie's father (Daniel Stern) is sick with cancer and is undergoing chemotherapy.
Despite these circumstances, this show proves to be an incredibly powerful and positive coming-of-age story, as we watch Annie blossom into a confident, body-positive woman throughout the series. She figures out how to live her life without constantly being ashamed or apologetic for her body, or for the way she looks.
There are several incidents that help Annie gradually arrive at self-acceptance, but one of the most memorable occurs in the episode "Pool." In this episode, Annie attends a body-positive pool party and is delighted to see people not worried about how they look in a bikini, but instead are comfortable in their own skin, enjoying time in the sun and at the pool. Annie attends the pool party dressed modestly in jeans and a t-shirt, but by the end, she has happily shed her layers, splashing around in the pool along with her friends. This catapults her empowerment in other areas of her life, like taking control of her sex life and relationship with Ryan or her responsibilities at her job, and even gives her the confidence to confront a persistent online troll in real life.
Although "Shrill" is not just about fat politics and body positivity, it captures the complexities and intricacies of these topics extremely well. It nails the nuances of being overweight almost perfectly. There are the healthy, boxed meals that taste like crap that Annie's mother gives to her to help her lose weight, the mean boss who shames her for not coming on their staff bike-riding trip, and her reluctance to take off her unsexy, grandma-style bra when hooking up with someone. "Shrill" is unapologetically radical, preaching self-love and body positivity to everyone who watches it. The show goes outside the box of the typical narratives of a fat person—there is no sob story, no scene of Annie sweating through workout classes, no montage of weigh-ins or nutritionist meetings. Annie learns to accept herself without all of that, and, by the end of the series, we see someone who is fearless in her own skin and just so happens to be plus-sized, which is exhilarating in mainstream media.
Another aspect of the show that particularly stands out is Bryant's fashion sense. Annie wears some of the most fashionable and trendy clothing items, including a sequined rainbow mini dress, cool green clogs, and pink-and-white striped collared shirt dress that I am dying to have in my own wardrobe. Her roommate, Fran, has an equally impressive fashion sense, donning an adorable bright-yellow one piece in the "Pool" episode and sporting many brightly patterned jackets at different points in the show. Their wardrobe shows that you can have great style at any size.
However, no TV show is perfect, and "Shrill" does occasionally frustrate. Annie and her boyfriend, Ryan, don't have the healthiest of relationships in the beginning of the series, as he refuses to wear a condom or introduce her to his friends. He is almost embarrassed of her, and even cheats on her at one point in the series. Ryan is a bit of a deadbeat, and doesn't necessarily seem to give her the respect that she deserves. The show would have been much more powerful if Annie ended up kicking him to the curb, but we don't see that. Instead, we see her constantly justifying his behaviors, which doesn't feel like a particularly healthy choice. Additionally, there are times where Annie comes across as quite selfish and inconsiderate, especially to her roommate, Fran. She seems more interested in her own life than helping Fran with any of her struggles. For example, when their cat accidentally ingests mushroom pills, Annie is annoyed that Fran can't skip her workday to take care of the cat, when it should be her responsibility, too. Annie also frequently criticizes how Fran treats her various hookups, when she's the one vying for the problematic Ryan. It's a little bit frustrating to see Annie portrayed this way in some episodes.
Overall though, "Shrill" is still extremely successful in its aim to create a different and exciting narrative, and is an inspiring, stimulating, and provocative show. After you watch the first episode, you'll be hooked, and it's well worth continuing.
Jane Herz can be reached at email@example.com.
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text:
Taste of Christmas Gift set
£30.00 £15.00
Additional Information
This is a gorgeous Christmas Gift set for someone special who loves Thorntons Chocolate.
What's Inside the Taste of Christmas Gift set:
- 1 x Milk Chocolate Fruit and Nut Block (297g)
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- 2 x Elf Impulse Bar (29g)
- 1 x Gingerbread Fudge (120g)
- 1 x Milk Chocolate Festive Tree Decoration (30g)
Part of our extended online range.
Standard UK Delivery £3.95
Arrival after 14 working days.
Named Day Delivery £5.95
Choose a day which works for you. Order by 4pm for named day