text: TCR_Public/171222.mbx T R O U B L E D C O M P A N Y R E P O R T E R Friday, December 22, 2017, Vol. 21, No. 355 Headlines1802 PALISADES: Jan. 25 Plan Confirmation Hearing417 RENTALS: H&M Buying 54 Springfield Properties for $1.1 Million99 CENTS: Moody's Hikes Probability Default Rating to Caa1-PDADLER GROUP: Claims Assessment, Creditor Talks Delay Plan FilingAEROPOSTALE INC: Plan Amended, Jan. 15 Disclosures Hrg. SetALLIED UNIVERSAL: Moody's Revises Outlook to Neg. & Affirms B3 CFRALTADENA LINCOLN: Exclusive Solicitation Period Extended to Feb. 1AMERICAN HEALTH: A.M. Best Affirms 'B(fair)' Fin. Strength RatingAPPALACHIAN CHRISTIAN: Fitch Cuts Ser. 2013 Rev Bonds Rating to BBAPTIM CORP: Moody's Revises Outlook to Neg. & Affirms B3 CFRARMSTRONG ENERGY: Seeks OK of Non-Insider Retention ProgramATLAS DISPOSAL: Proposes a Sale of Vehicles & Containers for $17KBAY HARBOUR HOMES: Taps McElroy Deutsch as Special CounselBETTYE RIGDON: $225K Sale of Forth Worth Property to Schroeders OKdBIBBY OFFSHORE: Chapter 15 Case SummaryBLUE DIAMOND: Case Summary & 2 Unsecured CreditorsC-N-T REDI: Brackett & Ellis Represents Metroplex & NCS Redi-MixCALVARY COMMUNITY: AG Financial Has Over $3.6MM Secured ClaimCAREY CRUTCHER: Hires Cooper & Scully as CounselCASTEX ENERGY: Unsecureds' Recovery Unknown Under Chap. 11 PlanCD INTERNATIONAL: Files for Chapter 7; Jan. 3 Creditors Mtg. SetCHAPELDALE PROPERTIES: Voluntary Chapter 11 Case SummaryCHIN FAMILY LIMITED: Hires Sussman Shank as CounselCLUB VILLAGE: Exclusive Plan Filing Period Extended Thru Feb. 20COMBIMATRIX CORP: History of Losses Raise Going Concern DoubtCONCORDIA INTERNATIONAL: S&P Lowers 9.5% Sr. Unsec Notes to 'D'CONFIRMATRIX LAB: Selling Patient Accounts Receivable for $280KCONIFER HOLDINGS: A.M. Best Removes 'B+' FSR From Review NegativeCONTEXTMEDIA HEALTH: Moody's Withdraws Caa1 Corp. Family RatingCOPPER CHIMNEY: Hires Mark S. Roher as CounselCRESTOR GLOBAL: Taps Marilyn D. Garner as Legal CounselCRISPY DELIGHT: Continuing Business Income to Fund PlanCROWN HOLDINGS: Moody's Puts Ba2 CFR Under Review for DowngradeCROWN HOLDINGS: S&P Affirms 'BB' CCR & Alters Outlook to PositiveCS360 TOWERS: Trustee Selling Sacramento Commercial Unit for $440KCS360 TOWERS: Trustee Selling Sacramento Commercial Units for $950KCULLMAN REGIONAL: Moody's Hikes $59MM Rev. Bonds Rating From Ba1D&M INVESTMENTS: U.S. Trustee Unable to Appoint CommitteeDATA COOLING: Selling Membership Interests in Arborwear for $90KDOOMAWENDSCHUH LLC: Taps McDonald & Rovens Lamb as CounselDPL INC: S&P Raises ICR to 'BB', On CreditWatch NegativeDUNCANLITE LABORATORY: U.S. Trustee Unable to Appoint CommitteeENBRIDGE INC: Moody's Lowers Subordinate Shelf Rating to Ba2ENERGY FUTURE: Majority Creditors Seek Seat in Fee CommitteeENPRO INDUSTRIES: Moody's Hikes CFR to Ba3; Outlook StableEQUINIX INC: Metronode Acquisition No Impact on Moody's Ba3 CFREZRA HOLDINGS: Has Until Feb. 19 to Exclusively File PlanFEDERATION EMPLOYMENT: Property Sales to Fund Plan PaymentsFIRST ACCEPTANCE: A.M. Best Affirms 'cc' Issuer Credit RatingFLORIDA FOLDER: US Trustee Unable to Appoint Creditors' CommitteeFOUNDATION OF HUMAN: Taps Severaid and Glahn as Litigation CounselG6 LIMITED: U.S. Trustee Unable to Appoint CommitteeGATEWAY MEDICAL: Opus Bank Proposes to Sell Assets to Pay CreditorsGATSBY'S MEN: Has Until February 23 to File Chapter 11 PlanGENON ENERGY: US Bank Objects to 3rd Amended PlanGENWORTH LIFE: Fitch Lowers IFS Rating to B+ on Deadline ExtensionGLOBAL A&T: Taps Prime Clerk as Administrative AdvisorGLOBAL BROKERAGE: Dec. 21 Meeting Set to Form Creditors' PanelGO WIRELESS: S&P Affirms 'B' Corp Credit Rating, Outlook StableGRAFTECH INTERNATIONAL: Moody's Ups CFR to B2; Outlook PositiveGRAND VIEW FINANCIAL: Needs More Time To Exclusively File PlanGULF COAST: Case Summary & 17 Largest Unsecured CreditorsHERALD MEDIA: Dec. 21 Meeting Set to Form Creditors' PanelHKD TREATMENT: Melville Buying 2012 Ford Fusion for $6.5KHOME CAPITAL: DBRS Hikes LongTerm Ratings to B(low)IMPERIAL CAPITAL: Court Confirms Reorganization PlanINMOBILIARIA LEGUISAMO: Enters into Stipulation with Triangle REOIRONCLAD PERFORMANCE: Files Joint Plan of LiquidationJACK ROSS: Court Confirms 2nd Amended PlanJERRY BATTEH: $85K Sale of Jacksonville Property to Niermann OkayedKINDRED HEALTHCARE: Moody's Puts B2 CFR Under ReviewKINDRED HEALTHCARE: S&P Places 'B+' CCR on Watch DevelopingLA CONTENTA: Voluntary Chapter 11 Case SummaryLAKESHORE PROPERTIES: Taps RealtyMasters as Real Estate BrokerLAS FLORES: Taps Dibble & Miller as Legal CounselLONESTAR RESOURCES: Moody's Assigns Caa2 Rating to New Sr. NotesLUNDIN MINING: Moody's Hikes CFR to Ba2 on Debt ReductionM & G USA: Committee Taps Gattai Minoli as Italian CounselMARCANTONIO ENTERPRISES: Seeks January 15 Plan Filing ExtensionMAUI MAX: Taps Cain & Herren as Legal CounselMCDERMOTT INT'L: Moody's Puts B1 CFR on Review for UpgradeMEHRI AKHLAGHPOUR: U.S. Trustee Appoints 3-Member CommitteeMIDWEST ASPHALT: Sale of All Assets to Callidus for $13.5M ApprovedMIKE FARRELL'S: Jan. 22 Plan Confirmation HearingMNM HOLDINGS: U.S. Trustee Unable to Appoint CommitteeMONADNOCK BREWING: Shareholder Seeks to Terminate ExclusivityNAVILLUS TILE: Seeks to Hire Teneo & Appoint CRONAVILLUS TILE: Taps Garden City Group as Administrative AdvisorNCI BUILDING: Moody's Hikes Corporate Family Rating to Ba3NOBLE HOLDING: Moody's Cuts CFR to B3 Amid High Debt LevelsOCULAR THERAPEUTIX: Recurring Losses Raise Going Concern DoubtORCHARD ACQUISITION: Taps Prime Clerk as Claims and Noticing AgentPENN NATIONAL: Moody's Puts Ba3 CFR on Review for DowngradePENNSYLVANIA ECONOMIC: Fitch Affirms BB Rating on 2005 Ser. F BondsPREFERRED CARE: Taps Gardere Wynne as Legal CounselPROFLO INDUSTRIES: U.S. Trustee Unable to Appoint CommitteePROSPECTOR OFFSHORE: Plan Filing Deadline Moved to March 16RAMLA USA: L.A. Spoon Buying Interest in Liquor License for $85KRENTECH WP: Jan. 3 Meeting Set to Form Creditors' PanelRFI MANAGEMENT: Jan. 18 Plan Confirmation HearingROLETTE COUNTY: Moody's Lowers Issuer Rating to Ba1; Outlook Neg.RYCKMAN CREEK: Statutory Lien Claimants to Get Up to 100% SEADRILL LIMITED: Wants to Maintain Plan Exclusivity Until May 10SHIEK SHOES: U.S. Trustee Appoints 9-Member Creditors' CommitteeSINCLAIR'S RESTAURANT: Jan. 23 Plan Confirmation HearingSIRIUS XM: Ruling to Up Royalty Rate No Impact on Moody's Ba3 CFRSPECTRA7 MICROSYSTEMS: Enters Into Limited Loan Facility WaiverST. JOSEPH'S COLLEGE: Moody's Revises Ratings Outlook to StableSUNOCO LP: Fitch Keeps BB- Long-Term IDR on Rating Watch PositiveSURFACE DRILLING: Taps Coskey as Land Title ConsultantSURFACE DRILLING: Taps Leah Craig as AccountantSUTTON LUMBER: Unsecureds to Get $1,000 Monthly Plus 4.25%TERRAVIA HOLDINGS: Exclusive Plan Filing Period Moved to Feb. 28UNILIFE CORP: Court Confirms Plan of LiquidationUNITY COURIER: Exclusive Solicitation Period Extended to April 26US DATAWORKS: Plan Effective Data AnnouncedUW OSHKOSH FOUNDATION: Needs Until June 2018 to File Exit PlanVERMEIL LLC: Jan. 16 Plan Confirmation HearingVIDANGEL INC: Taps Stris & Maher as Counsel in Appellate CaseVIRGINIA HIGH TECH: Exclusive Plan Filing Period Moved to Feb. 4WCD LLC: Case Summary & 20 Largest Unsecured CreditorsWESTERN EXPRESS: Moody's Withdraws B2 CFR & $250MM Loan RatingWJA ASSET: May Retain Consultants & Use Funds to Pay Various FeesWOODBRIDGE GROUP: U.S. Trustee Appoints 3-Member CommitteeWV NATIONAL AUTO: A.M. Best Lowers LongTerm ICR to 'bb-'ZEKELMAN INDUSTRIES: Moody's Alters Outlook to Pos & Affirms B2 CFR[^] BOOK REVIEW: The First Junk Bond *********1802 PALISADES: Jan. 25 Plan Confirmation Hearing-------------------------------------------------Judge Dennis R. Dow of the U.S. Bankruptcy Court for the WesternDistrict of Missouri conditionally approved the disclosurestatement filed by 1802 Palisades Investments, LLC on November 28,2017.January 25, 2018 at 9:00 a.m. is fixed for the hearing on finalapproval of the disclosure statement and for the hearing onconfirmation of the plan.January 18, 2018 is the deadline for filing objections to thedisclosure statement or plan confirmation, as well as for thesubmission of ballots accepting or rejecting the plan. About 1802 PalisadesHeadquartered in Leawood, Kansas, 1802 Palisades, LLC, filed forChapter 11 bankruptcy protection (Bankr. W.D. Mo. Case No.17-20009) on Jan. 9, 2017, disclosing $2.05 million in total assetsand $2.15 million in total liabilities. Patsy Prelogar, authorizedrepresentative, signed the petition. Berman, DeLeve, Kuchan &Chapman, LLC, serves as bankruptcy counsel to the Debtor. Noofficial committee of unsecured creditors has been appointed in thecase. 417 RENTALS: H&M Buying 54 Springfield Properties for $1.1 Million------------------------------------------------------------------417 Rentals, LLC, asks the U.S. Bankruptcy Court for the WesternDistrict of Missouri to authorize the sale of 54 propertiesconsisting of single family dwellings located in the Springfield,Missouri area to H&M, LLC, for $1,100,000.The Debtor's assets consist of 565 rental units, many of which aresingle family dwellings. These properties are located in theSpringfield, Missouri area. There are 15 lenders whose liensencumber most of the properties. The Debtor's reorganization planwill seek to refinance certain properties and sell the remainingproperties. Among the Debtor's assets are the 54 properties it proposes tosell. All of them are encumbered by Deeds of Trust on behalf ofCentral Bank of the Ozarks. A description of each property subjectof the sale, together with the information concerning the loanbalance, interest rate, taxes and insurance, are included in theTable. The Debtor has entered into a contract, subject to Court approval,with the Purchaser to purchase the 54 properties for the sum of$1,100,000. The Debtor proposes to sell the property to thePurchaser free and clear of all liens, encumbrances, claims andinterests, with such liens, encumbrances, claims and interests toattach to the sale proceeds in the order of priority. Pursuant tothe Contract, the closing is set for Dec. 26, 2017.A copy of the Contract and the Table attached to the Motion isavailable for free at: http://bankrupt.com/misc/417_Rentals_247_Sales.pdfThe Bank has consented to the sale which, after the payment of allencumbrances, should produce approximately $200,000 for theDebtor's Estate. The Debtor submits that the sale is fair andreasonable and beneficial to the Debtor and all creditors. Theproperty subject of the sale is not necessary for an effectivereorganization.From the proceeds of the sale, the Debtor proposes to pay (i) theexpenses of the sale; (ii) any real estate taxes and assessmentsoutstanding and unpaid at the time of the sale; and (iii) the sumof $900,000 to the Central Bank of the Ozarks in full satisfactionof the indebtedness owed it by the Debtor. The balance will bepaid to the Debtor's estate.The Creditor: CENTRAL BANK OF OZARKS P.O. Box 3397 Springfield, MO ¬ 65808-3397 About 417 RentalsBased in Brookline, Missouri, 417 Rentals, LLC, is a privately heldcompany in the real estate rental service industry. 417 Rentalssought protection under Chapter 11 of the Bankruptcy Code (Bankr.W.D. Mo. Case No. 17-60935) on Aug. 25, 2017. Christopher Gatley,its member, signed the petition. At the time of the filing, theDebtor estimated assets and liabilities of $1 million to $10million. Ronald S. Weiss, Esq., at Berman, DeLeve, Kuchan &Chapman, LLC, serves as the Debtor's bankruptcy counsel. Anofficial committee of unsecured creditors has not yet beenappointed in the Chapter 11 case.99 CENTS: Moody's Hikes Probability Default Rating to Caa1-PD-------------------------------------------------------------Moody's Investors Service upgraded 99 Cents Only Stores LLC'sprobability of default rating to Caa1-PD from Ca-PD and appendedthe PDR with the "/LD" (limited default) designation. Moody's willremove the "/LD" designation from the company's PDR after threedays. Moody's also withdrew the company's speculative liquidityrating as the company will no longer be filing public financials.All other ratings are affirmed. The outlook remains negative."The company's recent term loan amendment extending term loanmaturity and the successful completion of the exchange offer forits senior unsecured notes eases immediate liquidity pressures butliquidity remains weak with minimal free cash flow generation,"stated Moody's Vice President Mickey Chadha. "Moody's acknowledgethe meaningful improvement in company's operating performance butcredit metrics remain weak, hence the negative outlook", Chadhaadded.Issuer: 99 Cents Only Stores LLCUpgrades: -- Probability of Default Rating, Upgraded to Caa1-PD /LD from Ca-PDAffirmations: -- Corporate Family Rating, Affirmed Caa1 -- Senior Secured Bank Credit Facility, Affirmed Caa1 LGD3 -- Senior Unsecured Regular Bond/Debenture, Affirmed Caa3, to LGD6 from LGD5Withdrawals: -- Speculative Grade Liquidity Rating, Withdrawn , previously rated SGL-4Outlook Actions: -- Outlook, Remains NegativeRATINGS RATIONALEThese rating actions result from 99 Cents' completion of itsexchange offer and the amendment of its term loan, both of whichMoody's have characterized as a distressed exchange. The first lienterm loan maturity has been extended to 2022 while the $250 millionsenior unsecured notes maturing 2019 were exchanged for $140million cash/PIK senior secured notes maturing 2022 (unrated) and$102 million in PIK preferred stock to be held by the sponsor.The Caa1 Corporate Family Rating reflects the company's weakliquidity, weak credit metrics, geographic concentration inCalifornia and the intense competitive business environment in itscore markets. Pro forma for the exchange of the senior unsecurednotes, debt/EBITDA will be about 10.0 times for the LTM periodending October 27, 2017. Despite Moody's expectation of improvementin operating performance and EBITDA in the next 12 months leveragewill still be high at around 9.0 times. The company's newmanagement team has seen success in implementing a turnaroundstrategy which includes improved inventory and shrink management,and improved efficiencies including new third party distributorrelationships. Management has also started to upgrade the company'sstore base to enhance the customer experience and has alreadyinstalled a perpetual inventory system to better manage inventorylevels. The improvement in operations has been evident in thepositive same store sales growth for the last six quarters andimproved profitability. Other rating factors include positivegrowth prospects for the dollar store sector which benefits fromaffordable, low price points and relative resistance to economiccycles.The negative outlook reflects the company's weak liquidity anduncertainty surrounding the company's ability to sustain operatingimprovements in a challenging and highly competitive businessenvironment.Ratings could be downgraded if liquidity deteriorates orEBIT/interest is sustained below 1.0 times or debt/EBITDA does notimprove from current level. Change in the company's financialpolicies could also result in a downgrade.Given the negative outlook a ratings upgrade is unlikely in thenear-term. Ratings could be upgraded should 99 Cents Only'searnings grow such that debt to EBITDA approaches 7.0 times andfree cash flow is positive. A ratings upgrade would also requireadequate liquidity and financial policies which would supportleverage remaining at its improved levels.99 Cents Only Stores LLC is controlled by affiliates of AresManagement and Canada Pension Plan Investment Board. As of November7, 2017, the Company operated 391 retail stores in California,Texas, Arizona, and Nevada. Revenues are about $2.0 billion.The principal methodology used in these ratings was Retail Industrypublished in October 2015.ADLER GROUP: Claims Assessment, Creditor Talks Delay Plan Filing----------------------------------------------------------------Adler Group, Inc., asks the U.S. Bankruptcy Court for the Districtof Puerto Rico to extend the Debtor's exclusivity period anddeadline to file a disclosure statement and plan of reorganizationby 60 days.The Debtor also asks that the deadline to procure the votes underthe plan be also extended for a term of 60 days after the ordergranting the approval of the Disclosure Statement is entered.The Debtor has moved forward in its reorganization process and isin compliance with all of its duties under the Bankruptcy Code andthe Guidelines of the U.S. Trustee.The Debtor attended the meeting of creditors, which was held andclosed, and appeared at the status conference.The Debtor assures the Court that its request for extension is madein good faith, with no intent to cause unreasonable delay in theadministration of this case. This is the first extension of timerequested by the Debtor to present its Disclosure Statement andPlan. The same is for the benefit of the Debtor and all itscreditors.The deadline to submit proofs of claim expired on Oct. 24, 2017. The Debtor is still in the process of conducting an assessment ofits claims in order to further negotiations with key creditors thatare necessary in order to propose the Plan. According to theDebtor, it is indispensable for it to be able to reconcile allclaims in order to propose a complete, viable and effective planthat accounts for all claims. Due to the need of reconciling alltimely filed claims and concluding negotiations with creditors,Debtor is not in a position, at this juncture, to file itsDisclosure Statement and Plan. The Debtor states that its requestfor extension of time of the exclusivity period will allow Debtorto conclude the reconciliations and negotiations with creditors. About Adler Group Inc.Adler Group Inc. owns the Caguas Military property located at Carr189 km 3.1 (interior) Rincon Ward, Gurabo Puerto Rico, which isvalued at $3 million. It holds inventory and equipment worth$513,870. For 2015, the Company posted gross revenue of $1.61million 2015 and gross revenue of $1.91 million for 2014.The Debtor sought protection under Chapter 11 of the BankruptcyCode (Bankr. D.P.R. Case No. 17-02727) on April 20, 2017. Thepetition was signed by Jose Torres Gonzalez, authorizedrepresentative. At the time of the filing, the Debtor disclosed$3.52 million in assets and $4.43 million in liabilities.The case is assigned to Judge Mildred Caban Flores. The Debtorhired MRO Attorneys at Law, LLC, as bankruptcy counsel.AEROPOSTALE INC: Plan Amended, Jan. 15 Disclosures Hrg. Set-----------------------------------------------------------BankruptcyData.com reported that Aeropostale Inc., now known as AROLiquidation, filed with the U.S Bankruptcy Court a Third AmendedJoint Chapter 11 Plan of Liquidation and related DisclosureStatement. According to the Disclosure Statement, "The Planprovides for distribution of proceeds from the Sale Transaction,pursuant to which the Debtors sold substantially all of theirassets to Aero OpCo LLC. The proceeds from the Sale Transactionhave been and will continue to be used to fund the ongoingwind-down costs of the Chapter 11 Cases and will be used to fundDistributions under the Plan. The wind-down of the Debtors'estates have cost approximately $7 million to date. The Debtorsestimate that the ongoing wind-down costs of the Chapter 11 Caseswill amount to approximately $2 million. Class 3 is Impaired by thePlan. Each holder of a Term Loan Secured Claim is entitled to voteto accept or reject the Plan. The Term Loan Secured Claim shall bean Allowed Claim in the amount of $150 million, plus accrued andunpaid interest in the amount of $10,359,927, plus all fees andcosts recoverable under the Term Loan Agreement, minus any amountsthe Debtors pay to the Term Loan Lenders before Confirmation of thePlan. Pursuant to the Cash Collateral Orders, the Term Loan Lendershave received an interim distribution in the amount of$126,500,000. Class 5 is Impaired by the Plan. In light of thefact that the Term Loan Secured Claim and the Term Loan DiminutionClaim are not anticipated to be satisfied in full, Holders ofGeneral Unsecured Claims shall not receive or retain any propertyunder the Plan on account of such Claims." The Court scheduled a Jan. 25, 2018 hearing to consider theDisclosure Statement, according to Bankruptcy Data. About ARO LiquidationAeropostale, Inc. (OTC Pink: AROPQ) is a specialty retailer ofcasual apparel and accessories, principally serving young women andmen through its Aeropostale(R) and Aeropostale Factory(TM) storesand website and 4 to 12 year-olds through its P.S. From Aeropostalestores and website. The Company provides customers with a focusedselection of high quality fashion and fashion basic merchandise atcompelling values in an exciting and customer friendly storeenvironment. Aeropostale maintains control over its proprietarybrands by designing, sourcing, marketing and selling all of its ownmerchandise. As of May 1, 2016, the Company operated 739Aeropostale(R) stores in 50 states and Puerto Rico, 41 Aeropostalestores in Canada and 25 P.S. from Aeropostale(R) stores in 12states. In addition, pursuant to various licensing agreements, theCompany's licensees currently operate 322 Aeropostale(R) and P.S.from Aeropostale(R) locations in the Middle East, Asia, Europe, andLatin America. Since November 2012, Aeropostale, Inc., hasoperated GoJane.com, an online women's fashion footwear and apparelretailer.Aeropostale, Inc., and 10 of its affiliates each filed a voluntarypetition under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y.Lead Case No. 16-11275) on May 4, 2016. The petitions were signedby Marc G. Schubac, senior vice president, general counsel andsecretary.The Debtors disclosed assets of $354.38 million and total debt of$390.02 million as of Jan. 30, 2016.The Debtors hired Weil, Gotshal & Manges LLP as counsel; FTIConsulting, Inc., as restructuring advisor; Stifel, Nicolaus &Company, Inc., and Miller Buckfire & Company LLC as investmentbankers; RCS Real Estate Advisors as real estate advisors; PrimeClerk LLC as claims and noticing agent; Stikeman Elliot LLP asCanadian counsel; and Togut, Segal & Segal LLP as conflictscounsel.Judge Sean H. Lane is assigned to the cases.The U.S. trustee for Region 2 on May 11, 2016, appointed sevencreditors of Aeropostale Inc. to serve on the official committee ofunsecured creditors. The Committee retained Pachulski Stang Ziehl& Jones LLP as counsel.On June 29, 2017, Judge Lane authorized changes to the Debtors'corporate names in relation to their bankruptcy cases. The newname for Aeropostale Inc. is now ARO Liquidation, Inc., Case No.16-11275.ALLIED UNIVERSAL: Moody's Revises Outlook to Neg. & Affirms B3 CFR------------------------------------------------------------------Moody's Investors Service changed Allied Universal Holdco LLC's(Allied Universal) rating outlook to negative. At the same time,Moody's affirmed all of its existing ratings for Allied Universal,including the company's B3 Corporate Family Rating and B3-PDProbability of Default Rating.The change in outlook to negative reflects the sizable level offree cash flow burn that Allied Universal has experienced for thefirst three quarters of 2017 as a result of disruption to itsbilling and accounts receivable collections in the aftermath of thelate-2016 merger of Allied and Universal and the following sixadditional acquisitions. For the first nine months of 2017, AlliedUniversal burned about $110 million of cash, which has been fundedwith $160 million of net borrowings under its revolving creditfacility. The negative outlook also reflects the pressures thatAllied Universal's operating margin is experiencing as a result ofrising wage costs, employee turnover, integration costs, andachieved synergies that have been lower than original forecasts.The following ratings were affirmed by Moody's:Corporate Family Rating, B3Probability of Default Rating, B3-PD$300 million senior secured first lien revolving credit facilitydue July 28, 2020, B2 (LGD3)Senior secured first lien term loans due July 28, 2022, B2 (LGD3)Senior secured second lien term loans due July 28, 2023, Caa2(LGD5)Outlook Actions:Outlook, Changed To Negative From StableRATINGS RATIONALEAllied Universal's B3 CFR is constrained by its highly leveragedcapital structure, with debt-to-EBITDA for the twelve months endedSeptember 30, 2017 of 8.3 times. The rating is also constrained byAllied Universal's financial sponsor ownership, which has resultedin a history of debt financed shareholder returns and acquisitions.In addition, the B3 CFR rating reflects Allied Universal's lowoperating margins relative to other services companies, as a resultof intense pricing competition and ongoing wage pressures. Recentearnings have also been weighed down by the high level ofintegration expenses associated with the late-2016 merger of Alliedand Universal and several follow-on acquisitions.However, Allied Universal benefits from its market position as theUS's largest security services company, as well as the relativelyrecession resistant nature of the security services business, morebroadly. The rating is also supported by the expectation that thecosts associated with integration are largely behind AlliedUniversal, indicating the company's ability to reduce leverage to alevel that is more in line with its B3 CFR. In addition, the ratingis supported by Allied Universal's adequate interest coverage, withEBITA-to-interest expense of 1.4 times for the twelve months endedSeptember 30, 2017.The rating outlook could return to stable should Allied Universaldemonstrate progress towards reducing its debt-to-EBITDA to levelsmore in line with its rating, in particular by reversing itsnegative operating trends and returning to a non-cash absorptive(positive free cash flow) profile, dramatically reducing its levelof integration costs and improving operating margins. Given thenegative outlook, an upgrade is not expected at the present time.However, the ratings could be upgraded if Allied Universal is ableto successfully execute on its growth strategy, resulting inrevenue growth and improved operating margins such thatdebt-to-EBITDA is sustained below 6.0 times and EBITA-to-interestexpense rises above 2.0 times. A ratings upgrade would also requirethe company maintain a good liquidity profile, including positivefree cash flows, and also employ financial policies that supportimproved credit metrics sustained at such levels or better.Allied Universal's ratings could be downgraded if the company failsto stabilize recent adverse earnings and free cash flow trends, oris unable to dramatically reduce the level of integration costs in2018. Any further decline in earnings or the loss of contracts withkey customers could pressure ratings. A downgrade could bewarranted if EBITA-to-interest falls to one time or below, orAllied Universal is unable to improve earnings such thatdebt-to-EBITDA remains above 7.25 times beyond the next eighteenmonths. In addition, any further deterioration of liquiditycharacterized by persistently weak cash flows that results incontinued high reliance on revolver borrowings to cover operationalneeds could pressure ratings, as well as aggressive financialpolicies such as enhanced shareholder return initiatives or furtherdebt-financed acquisitions.The principal methodology used in these ratings was Business andConsumer Service Industry published in October 2016. Headquartered in Conshohocken, PA and Santa Ana, CA, AlliedUniversal Holdco LLC is the largest North American securityservices company, with revenue for the twelve months endedSeptember 30, 2017 of about $5.3 billion. The company is majorityowned by private equity firms Warburg Pincus LLC and Frenchinvestment company Wendel Group (Wendel).ALTADENA LINCOLN: Exclusive Solicitation Period Extended to Feb. 1------------------------------------------------------------------The Hon. Sheri Bluebond of the U.S. Bankruptcy Court for theCentral District of California has extended, at the behest ofAltadena Lincoln Crossing LLC, the exclusivity period for theDebtor to solicit acceptance of its plan of reorganization and anyamendments thereto until Feb. 1, 2018.As reported by the Troubled Company Reporter on Sept. 12, 2017, theDebtor sought the 120-day extension, saying that the resolution ofthe default interest dispute and the consequent reduction in theclaim held by East West Bank is a precondition of the Debtor's exitplan, as currently proposed. The Debtor averred that the outcomeand successful resolution of the claims is not a precondition toconfirmation. About Altadena Lincoln Crossing LLCHeadquartered in Pasadena, California, Altadena Lincoln CrossingLLC, a Delaware limited liability company, filed for Chapter 11bankruptcy protection (Bankr. C.D. Cal. Case No. 17-14276) on April7, 2017, estimating its assets and liabilities at between $10million and $50 million each. The petition was signed by GregGalletly, its manager.The Debtor is an affiliate of BGM Pasadena, LLC, which soughtbankruptcy protection (Bankr. C.D. Cal. Case No. 15-27833) on Nov.20, 2015.Judge Julia W. Brand presides over Altadena's case. James A.Tiemstra, Esq., at Tiemstra Law Group PC serves as the Debtor'sbankruptcy counsel. Gregory M. Salvatao Esq. at Salvato LawOffices serves as the Debtor's general bankruptcy and litigationcounsel. Coldwell Banker Commercial North Country serves as theDebtor's real estate broker.AMERICAN HEALTH: A.M. Best Affirms 'B(fair)' Fin. Strength Rating-----------------------------------------------------------------A.M. Best has affirmed the Financial Strength Rating (FSR) of B(Fair) and the Long-Term Issuer Credit Rating (Long-Term ICR) of"bb+" of American Health and Life Insurance Company (AHLIC).Additionally, A.M. Best has affirmed the FSR of B (Fair) and theLong-Term ICR of "bb+" of Triton Insurance Company (Triton). Bothcompanies are domiciled in Fort Worth, TXConcurrently, A.M. Best has affirmed the FSRs of B (Fair) and theLong-Term ICRs of "bb+" of Merit Life Insurance Co. (Merit Life)and Yosemite Insurance Company (Yosemite). Both entities aredomiciled in Evansville, IN. The outlook of these Credit Ratings(ratings) is stable. All entities are wholly owned by OneMainHoldings, Inc. (OneMain) (NYSE:OMF), formerly Springleaf Holdings,Inc.The ratings of AHLIC and Merit Life reflect each company's balancesheet strength, which A.M. Best categorizes as strong, as well astheir adequate operating performance, business profile andenterprise risk management (ERM). A.M. Best notes that Merit Life'sbusiness profile is considered limited due to the run-off nature ofits operations. Additionally, the ratings of AHLIC and Merit Lifereflect the risk profile of their parent, OneMain, a belowinvestment grade, consumer finance company. A.M. Best notes thatOneMain has made some progress in repaying near-term debt andimproving its liquidity, as well as improving operatingperformance, but leverage remains high and coverage metrics aremodest. AHLIC maintains a favorable market position in the creditinsurance market, and the company historically has reportedfavorable operating income, contributing to solid risk-adjustedcapitalization. However, top-line growth has been challenged morerecently, as closed block runoff is outpacing premium growth. MeritLife continues to report volatility within its credit lifeoperations and a modestly declining premiums trend. A.M. Bestbelieves the organization as a whole will work to consolidateentities, and improve efficiencies and scale within its insuranceoperations in the near term.The ratings of Triton and Yosemite reflect each company's balancesheet strength, which A.M. Best categorizes as very strong, as wellas their strong operating performance, neutral business profile andappropriate ERM. The ratings also reflect management's expertise inconsumer finance-oriented products and the business opportunitiesderived from its affiliates. Triton and Yosemite are dependent onOneMain as their primary distribution source and have significantconcentration in credit insurance products. Triton maintains acompetitive market position in the credit insurance market and hashistorically reported strong operating results. However, recenttrends show a decline in premiums, and expense trends have been onthe rise. Yosemite also has reported a recent decline in premiumsand some operating volatility related to its closed block runoffbusiness; however, overall operating performance continues to bestrong. In addition, the companies' future financial constraintswere considered in terms of underwriting performance trends anddividends, as these constraints may stress risk-adjusted capitallevels needed to support future growth.APPALACHIAN CHRISTIAN: Fitch Cuts Ser. 2013 Rev Bonds Rating to BB------------------------------------------------------------------Fitch Ratings has downgraded the following bonds issued by theHealth and Educational Facilities Board of the City of JohnsonCity, Tennessee on behalf of Appalachian Christian Village (d/b/aCornerstone Village) (ACV): -- $18.45 million revenue refunding and improvement bonds (Appalachian Christian Village), series 2013 to 'BB-' from 'BB+'. Additionally, Fitch maintains the bonds on Rating Watch Negative. SECURITY The bonds are secured by a pledge of gross revenues and a mortgageon certain property of the obligated group, consisting ofAppalachian Christian Village and Appalachian Christian VillageFoundation, Inc. A fully funded debt service reserve fund providesadditional security. KEY RATING DRIVERSDETERIORATING LIQUIDITY POSITION: The downgrade reflects ACV'sdeteriorating liquidity position as its unrestricted cash andinvestment position continued to fall through the six-month interimperiod (ending Sept. 30, 2017) and remains approximately 37% lowerthan fiscal 2015 levels. ACV's unrestricted cash and investmentposition of $4.3 million translates into 89 days cash on hand(DCOH), 3.4x cushion ratio, and 22.5% cash to debt, all weaker thanFitch's below investment grade (BIG) medians of 283, 4.4x, and34.2%, respectively. Based on its second quarter disclosurepackage, ACV is reporting 96 DCOH per its MTI calculation whichremains lower than its 120 DCOH covenant and, if not improved byfiscal year-end, may result in consecutive annual covenantviolations.OPERATIONS CONTINUE TO STRUGGLE: The downgrade also reflects ACV'sfinancial performance through the six-month interim period. AtSept. 30, 2017, ACV had a 102.6% operating ratio, 0.7% netoperating margin (NOM), and a negative 9.9% excess margin, allweaker than Fitch's 'BIG' medians of 101.5%, 9.5%, and negative2.9%, respectively. Furthermore, per its MTI calculation, ACV isreporting a 0.76x debt service coverage (DSC) through the six-monthinterim period which would violate its DSC covenant of 1.0x and, ifnot improved by fiscal year-end, may result in consecutive annualcovenant violations. However, Fitch does note that ACV has recentlyimplemented a remediation plan which is geared towards turningaround its recently weak operational performance. PROBABLE COVENANT VIOLATION IN FISCAL 2017: ACV reported a 0.85xDSC ratio and 112 DCOH for fiscal 2017 (unaudited) in its unauditedyear-end disclosure package. Both are in violation of its DSC andliquidity covenants and DSC below 1.0x would be a technical defaultunder its master trust indenture. ACV's DCOH covenant violationwould not require a consultant call-in for the first violation, noris it an event of default. ACV is tested on coverage at its fiscalyear-end and on liquidity bi-annually. IMPROVING, BUT WEAK ILU CENSUS: As of Sept. 30, 2017, independentliving (IL) occupancy was 77% and IL cottage (Maple Crest)occupancy was 81% which is an improvement from the 74% and 70%occupancy averaged, respectively, during the six-month interimperiod of fiscal 2016 (ending Sept. 30, 2016). Despite the increasein occupancy, the low ILU occupancy will continue to impact ACV'sfinancial profile and remains an ongoing challenge for management.RATING SENSITIVITIESIMPROVEMENT IN OPERATIONAL PERFORMANCE/LIQUIDITY POSITION:Appalachian Christian Village recently implemented a remediationplan geared towards turning around its recently weak operationalperformance. ACV would need to improve its operational performanceand liquidity position, in addition to avoiding more covenantviolations for stabilization of the rating. Conversely, furtherliquidity deterioration, continuation of its weak operationalperformance, or addition covenant violations would likely result infurther downward rating action. COVENANT VIOLATION RESOLUTION: Following a release of its auditedfinancial statements for fiscal 2017, ACV will report its officialaudited debt service coverage and liquidity covenant calculations.The Rating Watch may be resolved if the official coverage andliquidity calculations are not in violation of its MTI covenants.However, given ACV's likely covenant violations in fiscal 2017,Fitch expects to resolve the Rating Watch Negative following theresolution of the covenant violations, which could come in the formof a consultant call-in, waiver, or an addition remedy that mayinclude acceleration of its debt.CREDIT PROFILEACV is a Type-C continuing care retirement community located inJohnson City, TN with 177 ILUs, 89 assisted living units, and 103SN beds located on two campuses, Sherwood and Pine Oaks. Of the 89ALUs, 69 are located at Pine Oaks Assisted Living Community, whichis leased and operated by ACV, but not part of the obligated group.Fitch reviews the financial results of the obligated group, whichreported approximately $18 million in total operating revenues infiscal 2017 (unaudited). REMEDIATION PLANPer its second quarter disclosure package, ACV has implemented aremediation plan geared towards turning around its recently weakoperational performance. This plan entails the removal andreplacement of its CEO, hiring an executive committee member fromits Board of Directors as a paid on consultant, improving marketingefforts, and implementing effective expense controls. Additionally,ACV is looking to improve its cash collection process which, ifexecuted, should help improve its liquidity position. As of Sept.30, 2017, ACV's accounts receivable (AR) of $2.9 million remains161% higher than the $1.1 million in AR at the end of fiscal 2016.Given ACV's recently weak operational performance, itsdeteriorating liquidity position remains an ongoing credit concern.As of Oct. 31, 2017, ACV's unrestricted cash and investmentposition fell 18% month-over-month to $3.5 million which translatesinto 79 DCOH (per MTI calculation) and remains in violation of itsliquidity covenant. The decline in liquidity is likely attributedto the corresponding decline in ACV's accounts payable, which fell40% from $2.1 million at Sept. 30, 2017 to $1.3 million at Oct. 31,2017. A continuation of ACV's weak operational performance orfurther liquidity declines would put negative pressure on therating.Furthermore, ACV is currently in the process of contracting athird-party consultant that will be approved by both the bondcounsel and bond trustee. The consultant is expected to complete anoperational assessment and provide a report over the coming months.Fitch has not had a call with management for this current review.However, Fitch plans to monitor the situation and have a call withthe new management team over the coming months as the auditedfinancial statements, interim financial statements, and consultantreports are made available.APTIM CORP: Moody's Revises Outlook to Neg. & Affirms B3 CFR------------------------------------------------------------Moody's Investors Service changed the rating outlook for APTIMCorp. ("APTIM") to negative, from stable. At the same time, Moody'saffirmed the company's B3 Corporate Family Rating, B3-PDProbability of Default Rating, and the B3 rating for APTIM's seniorsecured notes due 2025.The outlook change reflects Moody's uncertainty regarding thecompany's ability to retain key customers long-term following therecently announced termination of services by a large customer,Entergy Corporation (rated Baa2 stable by Moody's). Moody's notedthat this most recent customer loss marks the second large customerthat has terminated its contract (the other being a subsidiary ofExelon, also rated Baa2 stable) with APTIM in the past six months,meaningfully weakening the company's future earnings prospects suchthat leverage will remain elevated in the low 6.0 times range overthe next 12 months. The rating affirmation reflects Moody's viewthat the company will maintain a good liquidity profile,nonetheless, supported by a healthy amount of balance sheet cashand ensuing limited reliance on its asset backed loan (ABL) for thenext 12 to 18 months.According to Moody's Analyst Andrew MacDonald, "APTIM's performancehas been challenged by recent large customer losses that will pushleverage higher in the coming months, and in relatively short ordersince Moody's initial engagement and assignment of ratings. Moody'sremain cautious longer-term as a result of more limited visibilityinto forward financial performance and related uncertainties giventhese unanticipated developments," added MacDonald.Moody's affirmed the following ratings:Issuer: APTIM Corp. Corporate Family Rating at B3 Probability of Default Rating at B3-PD $515 Million Senior Secured Notes due 2025 at B3 (LGD4) Outlook, Changed to Negative from StableRATINGS RATIONALEAPTIM's B3 CFR broadly reflects ongoing execution risks associatedwith its carve-out transition from Chicago Bridge & Iron (CB&I),thin operating margins, and Moody's expectation of minimal revenueand earnings growth at least through 2018. Other constrainingfactors include a lack of pre-payable debt, potential for a largedebt-funded acquisition, event risks associated with financialsponsor ownership, high customer concentration, and rampingcompetitive intensity in the industry. Uncertainties inherent toestimating contract costs, surety bonding and letter of creditrequirements for new projects, meeting requisite performancestandards, and the involvement of subcontractors also imposeadditional risks to profitability and liquidity measures for thecompany. The rating is supported, however, by still reasonably goodrevenue and earnings visibility, as evidenced by the company'ssizable remaining contract backlog and the relative stability ofits non-nuclear operations and maintenance (O&M) and environmentalservice offerings, which tend to have more predictable demandcharacteristics. A good liquidity profile also underpins Moody'sassessment of credit risk and the assigned ratings.The negative outlook considers that following the loss of Exelonand Entergy, Moody's expects leverage will be temporarily elevatedabove 6 times for the next 12 months, which had previously beencited as a trigger for prospective consideration of a potentiallydowngrade.Revenue and earnings growth that contributed to a Moody's-adjusteddebt-to-EBITDA sustained below 4.5 times while maintaining goodliquidity (including at least $100 million of availability underthe revolver) would be needed to warrant consideration of aprospective ratings upgrade. This would also have to be accompaniedby successful execution on the carve-out transition with minimalunanticipated one-time expenses, according to the rating agency.Ratings could be downgraded if revenue or EBITDA decline, such thatdebt-to-EBITDA is expected to be sustained above 6 times.Unexpected surety bond or letter of credit requirements thatconstrain liquidity, or leveraging debt-funded acquisitions ordividends, could also result in a ratings downgrade.The principal methodology used in these ratings was Business andConsumer Service Industry published in October 2016. Headquartered in The Woodlands, TX and Baton Rouge, LA, APTIMprovides operations and maintenance, EPC, environmental services,and program management services to clients in the commercial(power, industrial, and retail), government and infrastructuresectors. The company's revenue was $2.1 billion for the twelvemonth period ended September 31, 2017. APTIM is owned by privateequity firm Veritas Capital.ARMSTRONG ENERGY: Seeks OK of Non-Insider Retention Program-----------------------------------------------------------BankruptcyData.com reported that Armstrong Energy filed with theU.S. Bankruptcy Court a motion for entry of an order approving theDebtors' non-insider retention program. The motion explains, "TheDebtors seek entry of an order (a) approving the Debtors'Non-Insider Retention Program for approximately 510 non-insideremployees (collectively, the 'Program Participants'), providing foran award pool of approximately $255,000 in the aggregate. Under theNon-Insider Retention Program, Program Participants who remainemployees of the Debtors through the effective date of the Debtors'chapter 11 cases will each be granted an award of $500 - in theaggregate, this amounts to no more than $255,000. Awards will bepaid in a lump sum after the Effective Date, and will coincide withthe Program Participants' final paychecks from the Debtors (the'Payment Date'). Payments will only be made to Program Participantsthat are (a) employed by the Debtors through the Effective Date andwho continue to perform all of their duties and responsibilities inthe ordinary course, or (b) terminated without cause prior to thePayment Date. Program Participants will receive the awardregardless of whether they are offered employment by the entityacquiring the Debtors' assets. Importantly, the ProgramParticipants are the same employees that participate in theDebtors' ordinary course, non-insider incentive award programs. Noinsider (as that term is defined by section 101(31) of theBankruptcy Code) is a Program Participant. The Debtors believe itis important to provide direction and incentive opportunities totheir workforce, especially in light of their anticipated WARN Actnotices. Implementing this program is essential to maintainingemployee morale and minimizing the adverse effects of these chapter11 cases on the Debtors' ongoing business operations." The Courtscheduled a January 16, 2018 hearing to consider the motion. About Armstrong EnergyArmstrong Energy, Inc., through its 100% wholly owned subsidiaryArmstrong Coal Company, Inc., is a producer of steam coal in theIllinois Basin. Armstrong -- http://www.armstrongenergyinc.com/-- controls over 565 million tons of proven and probable coal reservesand operates five mines in Western Kentucky. Armstrong ships coalto utilities via rail, truck and barge and has the capabilitytoprovide low cost custom blend coal to fuel virtually any electricpower plant in the Midwest and Southeast regions of the nation. The Company employs approximately 600 individuals on a full-timebasis.Armstrong Energy and eight affiliates, including Armstrong CoalCompany, Inc., sought Chapter 11 protection (Bankr. E.D. Mo. LeadCase No. 17-47541) on Nov. 1, 2017, after reaching a plan thatwould transfer assets to the Company's senior bondholders andKnight Hawk Holdings, LLC, in exchange for a $90 million creditbid.As of June 30, 2017, Armstrong Energy had $308.95 million in totalassets, $435.3 million in total liabilities and a totalstockholders' deficit of $126.3 million.The Hon. Kathy A. Surratt-States is the case judge.The Debtors tapped Kirkland & Ellis LLP as bankruptcy counsel;Armstrong Teasdale LLP as local counsel; Maeva Group, LLC, asfinancial advisor; FTI Consulting, Inc., as restructuring advisor;and Donlin, Recano & Company, Inc., as claims and noticing agent. The Supporting Holders tapped Paul, Weiss, Houlihan and CarmodyMacDonald P.C. as counsel; and Houlihan Lokey, Inc., as financialadvisor. Knight Hawk tapped Jackson Kelly PLLC as counsel. Majority shareholder Rhino Resource Partners Holdings LLC isrepresented by Thompson & Knight LLP. Thoroughbred Resources,L.P., is represented by Willkie Farr & Gallagher LLP.ATLAS DISPOSAL: Proposes a Sale of Vehicles & Containers for $17K-----------------------------------------------------------------Atlas Disposal Options, Inc., asks the U.S. Bankruptcy Court forthe District of New Jersey to authorize the sale of six commercialvehicles and six steel roll-off containers to Recycle Oil and TMTTrucking for the sum of $17,000.The Vehicles and Containers to be sold are: a. 1999 Western Star 4964SX Tri-Axle Roll-off Container Truck(VIN 2WLPCD2H2XK958689) with 359,188 miles, an Eaton Fuller 8 speedtransmission, Caterpillar C-12 diesel engine and a 60,000 poundManupac hoist - To be sold to Recycle Oil, 1600 South 25th Street,Easton, Pennsylvania for $2,500. Its fair market value ("FMV") is$4,000. b. 1996 International 4900 Ingle Vacuum tank truck (VIN1HTSDAAN2TH357640) with 164,920 miles, 6 speed plus transmission,DT466E Diesel Engine and 2500 gallon steel tank with Fruitland Pump- To be sold to Recycle Oil for $2,500. Its FMV is $2,500. c. 1996 Freightliner FLD120 tandem axle conventional cab trucktractor (VIN 1FUPDMCB9TL621692) with over 500,000 miles, EatonFuller 10 speed transmission, Cummins M11 Plus Diesel Engine (frontfiberglass nose off vehicle and being repaired) - To be sold toRecycle Oil for $2,500. Its FMV is $3,500. d. 1996 Kenworth T800B Conventional cab Tri-Axle Vacuum Truck(VIN 1NKDXBTX3TJ717622) with 529,535 miles, 10 speed transmission,14.6L Caterpillar diesel engine, 5000 gallon steel tank withMassport pump) Vehicle in a previous accident, frame damage andrepaired - To be sold to Recycle Oil for $4,000. Its FMV is$4,500. e. 1988 FLD Freightliner (VIN 1FVUZCYB3JH405789) with 462,000miles - To be sold to TMT Trucking, 68 North Dell, Kenvil, NewJersey for $1,500. Its FMV is 8$2,500. f. 1996 TRL RET Trailer (VIN 3R9A32446TM0012) - To be sold toRecycle Oil for $1,000. Its FMV is $1,500. g. Steel Roll Off Containers (Various condition, none betterthan Fair) - To be sold to Recycle Oil for $3,000. Its FMV is$2,500.A hearing on the Motion is set for Jan. 23, 2018 at 10:00 a.m.On May 24, 2016, the Court entered a Chapter 11 Small BusinessScheduling Order, pursuant to which the Debtor's exclusive right tofile a Plan expired on Nov. 8, 2016, and the Debtors DisclosureStatement and Plan were due to be filed prior to March 8, 2017. That deadline has been extended through various Orders andhearings.The Debtor asks the Court to approve the sale of the Vehicles andContainers, free and clear of all liens, claims and encumbrances. It submits that the sale of the Property is in the best interest ofthe estate, and Creditor body and is well within its businessjudgment. In this case, a sound business reason justifies itsdecision to sell the vehicles as the business is not generatingsufficient accounts as such, and the business is not generatingsufficient revenues to allow the Debtor to pay its creditors andmake the regular monthly payments due to the Internal RevenueService under its Cash Collateral Order.The Internal Revenue Service and the State of New Jersey (Divisionfo Taxation and Division of Employer Accounts) are the onlyentities with a secured claim in the proposed Purchased Property byvirtue of its liens (as opposed to promissory notes or mortgages)and the funds from the sale of same will be held in Escrow.As a result of these sales, the Debtor will be placing $17,000 inthe Attorney Trust Account of its counsel. This figure translatesinto almost 80% of the Fair Market Value of the Vehicles andContainers.As it is proposed that these Vehicles and Containers be sold freeand clear of liens, with any and all liens to attach to theproceeds held by Counsel for the DIP, the notice is providedpursuant to Federal Rules of Bankruptcy Procedure 6004 and 9014. It would be appropriate in the instant case to allow the sale ofthe aforementioned Vehicles and Containers, and permit the proceedsof same to be held by the Counsel for the DIP and applied to theCombined Plan and Disclosure Statement that will be filed later ofthe month and would be viable for balloting and confirmation. About Atlas Disposal OptionsAtlas Disposal Options, Inc., was formed to offer environmentalcontractors and industrial clients a single source for all theirdisposal needs. The Debtor facilitates transportation and disposalof almost any waste stream, utilizing its own trucks, personnel andequipment to transport and dispose of any petroleum, sanitary orhazardous waste.Atlas Disposal Options sought protection under Chapter 11 of theBankruptcyCode (Bankr. D.N.J. Case No. 16-19253) on May 12, 2016. PaulMasser, president, signed the petition. At the time of the filing, the Debtor disclosed $347,640 in assetsand $1.05 million in liabilities.The case is assigned to Judge Vincent F. Papalia. Initially, the Debtor was represented by Richard Fogel, Esq. Subsequently, the Debtor employed Stuart M. Nachbar, Esq. at LawOffice of Stuart M. Nachbar, P.C., to represent it in its case. The Debtor also tapped Walter B. Dennen, Esq. at Aimino & Dennen,LLC as special counsel; and Todd S. Marrazzo as accountant.BAY HARBOUR HOMES: Taps McElroy Deutsch as Special Counsel----------------------------------------------------------Bay Harbour Homes, LLC seeks approval from the U.S. BankruptcyCourt for the Middle District of Florida to hire McElroy, Deutsch,Mulvaney & Carpenter, LLP as its special counsel.The firm will provide legal services in connection with theDebtor's dispute with Jason and Shawn Sanchez who have filed aclaim in the amount of $117,526.49 against the Debtor.The firm's hourly rates range from $300 to $450 for senior partnersand shareholders, $225 to $275 for associates, and $125 to $175 forparalegals. James Myers, Esq., the attorney who will be handlingthe case, charges an hourly fee of $350.McElroy has no connection with the Debtor's creditors, according tocourt filings.The firm can be reached through: James S. Myers, Esq. McElroy, Deutsch, Mulvaney & Carpenter, Wells Fargo Center 100 South Ashley Drive, Suite 632 Tampa, FL 33602 Tel: 813-397-3630 Fax: 813-397-3601 Email: firstname.lastname@example.com About Bay Harbour HomesBay Harbour Homes, LLC, filed a Chapter 11 petition (Bankr. M.D.Fla. Case No. 17-03805) on May 1, 2017. The Debtor estimatedassets of less than $50,000 and liabilities of less than $100,000. Leon A. Williamson, Jr., Esq., at Leon A. Williamson, Jr., P.A.,serves as the Debtor's bankruptcy counsel.No official committee of unsecured creditors has been appointed.BETTYE RIGDON: $225K Sale of Forth Worth Property to Schroeders OKd-------------------------------------------------------------------Judge Mark X. Mullin of the U.S. Bankruptcy Court for the NorthernDistrict of Texas authorized Bettye J. Rigdon's sale of herresidential real property located at 7300 Overhill Road, FortWorth, Texas to James and Melissa Schroeder for $255,000.The sale is free and clear of all liens, claims, encumbrances, andinterests; provided, however, if the Sale closes in 2018, the lienssecuring the payment of all amounts ultimately owed for ad valoremproperty taxes for the year 2018 will remain attached to theProperty. All liens, claims, encumbrances, and interests existingagainst the Property as of the date of the Sale (other than 2018 advalorem tax liens) will attach solely to the proceeds of the Sale.Tarrant County will receive payment in full of year 2016 ad valoremreal property ad valorem taxes plus interest that has accrued atthe state statutory rate of 1% per month from the petition datethrough the date of payment along with all amounts ultimately owedfor tax year 2017 at the time of payment, including allpostpetition penalties and interest that may have accrued. Notwithstanding any other provision in the Order, Tarrant Countywill retain the liens that secure all amounts ultimately owed fortax year 2018 including all penalties and interest that may accruewhich will be the responsibility of the Buyers. Tarrant Countywill retain the right to exercise its state law collection rightsin the event the Buyers fail to timely pay the taxes.The Debtor and the title company are authorized and directed to paythese expenses and obligations at Closing from the Sale proceeds: a. All closing costs and expenses associated with the Salefor which the Debtor is obligated under the Sale Agreement; b. The broker commission equal to 6% of the purchase price,to be split evenly between Tony Culwell and the Buyers' broker inaccordance with the Sale Agreement; c. All ad valorem taxes assessed against the Property for theyears 2016 and 2017, which will be $4,364 and $4,247, respectively,if Closing occurs during December 2017; d. The amount of $51,329 to Ocwen as provided in the Ocwenpayoff statement dated Dec. 15, 2017; and e. The balance of all sale proceeds, after payment of thedescribed amounts, to the Internal Revenue Service by check madepayable to the Department of Justice and sent c/o Donna K. Webb,Assistant (United States Attorney, 801 Cherry St., Ste. 1700,Burnett Plaza Unit #4, Fort Worth, Texas 76102, to be applied tothe secured portion of the IRS' claim against the Debtor.The stay imposed by Bankruptcy Rule 6004(h) is waived and the Orderwill be effective and enforceable immediately upon its entry.Bettye Jeanne Rigdon, Carousel Properties, LLC and and TLD BarRanch, LP, sought Chapter 11 protection (Bankr. N.D. Tex. Case No.16-44620 to 16-44622) on Dec. 2, 2016. The Debtors' cases arejointly administered under Case No. 16-44620.Counsel for Bettye J. Rigdon: Jeff P. Prostok, Esq. Lynda L. Lankford, Esq. FORSHEY & PROSTOK, L.L.P. 777 Main Street, Suite 1290 Fort Worth, TX 76102 Telephone: (817) 877-8855 Facsimile: (817) 877-4151 E-mail: email@example.com OFFSHORE: Chapter 15 Case Summary---------------------------------------Chapter 15 Debtor: Bibby Offshore Services Plc 105 Duke Street Liverpool L1 5JQ United KingdomType of Business: Bibby Offshore Holdings Limited provides a range of subsea construction services to the oil and gas industry. The company was incorporated in 2010 and is based in Liverpool, United Kingdom. Bibby Offshore Holdings Limited operates as a subsidiary of Bibby Line Group Limited. http://www.bibbyoffshore.com/Foreign Proceedingin WhichAppointmentof ForeignRepresentativeOccurrred: Chancery Division (Companies Court), High Court of Justice, England & WalesChapter 15 Petition Date: December 20, 2017Chapter 15 Case No.: 17-13588Court: United States Bankruptcy Court Southern District of New York (Manhattan)Judge: Hon. Martin GlennAuthorized Representative: Howard WoodcockForeign Representative'sCounsel: Adam J. Goldberg, Esq. Hugh Keenan Murtagh, Esq. LATHAM & WATKINS, LLP 885 Third Avenue New York, NY 10022 Tel: (212) 906-1200 Fax: (212) 751-4864 E-mail: firstname.lastname@example.com firstname.lastname@example.com Assets: UnknownEstimated Debts: UnknownA full-text copy of the petition is available for free at: http://bankrupt.com/misc/nysb17-13588.pdfBLUE DIAMOND: Case Summary & 2 Unsecured Creditors--------------------------------------------------Debtor: Blue Diamond LLC fdba Garnet Inc fdba Mason Springs LLC fdba Alpha Rasl Estate LLC fdba Omicron Real Estate LLC fdba Beta Real Estate LLC fdba Gamma Real Estate LLC fdba Delta Real Estate LLC fdba Mason Springs II LLC fdba Opalite Inc. fdba Lotimar Inc. fdba Sigma Real Estate LLC fdba Iota Real Estate LLC fdba Epsilon Real Estate LLC 1774 Winchester Avenue Suite 1 Martinsburg, WV 25405Type of Business: Real Estate. Blue Diamond LLC is a privately held company based in Martinsburg, West Virginia.Chapter 11 Petition Date: December 20, 2017Case No.: 17-01234Court: United States Bankruptcy Court Northern District of West Virginia (Martinsburg)Judge: Hon. Patrick M. FlatleyDebtor's Counsel: Martin P. Sheehan, Esq. SHEEHAN & NUGENT, PLLC 41 15th Street Wheeling, WV 26003 Tel: (304) 232-1064 Fax: 304-232-1066 E-mail: firstname.lastname@example.com Assets: $10 million to $50 millionEstimated Debt: $1 million to $10 millionThe petition was signed by James Hutzler, Jr., member/manager.A full-text copy of the petition is available for free at: http://bankrupt.com/misc/wvnb17-01234.pdfDebtor's List of Two Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------Capital One Credit Card $7,000PO box 30285Salt Lake City, UT84130-0288United Bank Various commercial $725,831450 Foxcroft Avenue Properties bars/Martinsburg, WV 25405 lottery parlorsC-N-T REDI: Brackett & Ellis Represents Metroplex & NCS Redi-Mix----------------------------------------------------------------Brackett & Ellis, P.C., filed with the U.S. Bankruptcy Court forthe Northern District of Texas a verified statement pursuant toFederal Rule of Bankruptcy Procedure 2019, stating that it isrepresenting multiple entities in the Chapter 11 case of C-N-T RediMix, LLC.BE represents these creditors: a. Metroplex Sand & Gravel, Ltd. Attn: Dale Brooks P.O. Box 185104 Fort Worth, Texas 76181 b. NCS Redi-Mix, LLC Attn: Dale Brooks P.O. Box 185104 Fort Worth, Texas 76181Each of the creditors has requested that BE represent it in theDebtor's bankruptcy proceeding with full knowledge of BE'srepresentation of the other creditor. Each of the creditors has aclaim against the Debtor for goods and services delivered to theDebtor. The amount of each of the foregoing creditors' claims hasnot been fully determined. Neither BE, nor any attorney, thereof has at any time during itsrepresentation of the creditors owned any claim against or interestin the Debtor.BE can be reached at: Amanda B. Hernandez BRACKETT & ELLIS, P.C. 100 Main Street Fort Worth, TX 76102-3090 Tel: (817) 338-1700 Fax: (817) 870-2265 E-mail: email@example.com About C-N-T Redi MixBased in Dallas, Texas, C-N-T Redi Mix, LLC, is a company thatsells concrete and concrete supplies. C-N-T Redi Mix first filed a voluntary Chapter 11 case in U.S.Bankruptcy Court for the Northern District of Texas, DallasDivision (Bankr. N.D. Tex. Case No. 16-30274) on Jan. 20, 2016.C-N-T Redi Mix again filed a Chapter 11 petition (Bankr. N.D. Tex.Case No. 17-34580) on Dec. 5, 2017. Apryl Daniel, sole member,signed the petition. At the time of filing, the Debtor estimated$100,000 to $500,000 in assets and $1 million to $10 million inliabilities.The case is assigned to Judge Harlin DeWayne Hale.Eric A. Liepins, Esq., at Eric A. Liepins, P.C., represents theDebtor.CALVARY COMMUNITY: AG Financial Has Over $3.6MM Secured Claim-------------------------------------------------------------Calvary Community Assembly of God, Inc., filed a disclosurestatement with the U.S. Bankruptcy Court for the District ofNevada.General unsecured claims will receive, over time, a percentage oftheir claims, although the plan may designate a subclass of small"convenience class" claims which will be paid in full on theeffective date. In rare situations, the plan may designateadditional unsecured subclasses.Unclassified claims, such as costs of administering this bankruptcycase, generally are entitled to be paid in full on the plan'seffective date.Secured claims are generally entitled to be paid in full, overtime, with interest.Debtor currently owns (1) real property with a BPO value of$11,533,750.00; (2) 1997 Ford E350 van with maximum value of$7,000.00; (3) Inventory for school and church of unknown value,consisting of furniture, electronics, and office supplies; and (4)Debtor in Possession Bank Accounts. AG Financial has a secured claim against the real property in theamount of $3,659,055.84.The plan proponent believes it is feasible because, both on theeffective date and for the duration of the plan, the proponentestimates that debtor will have sufficient cash to make alldistributions. A ful-text copy of Calvary Community's disclosure statement isavailable at: http://bankrupt.com/misc/nvb17-13475-75.pdf About Calvary Community Assembly of God, Inc.Calvary Community Assembly of God -- http://www.ccalv.org/-- is a Pentecostal Church in Las Vegas Nevada. This Assemblies of Godchurch serves Clark County NV - Pastor Bruce A Morris. CalvaryCommunity Church is located on an 11-acre campus at 2900 N. TorreyPines Drive, just a few blocks off the I-95 freeway. In September2004, Pastor Bruce and Donita Morris began their time servingCalvary.Calvary Community Assembly of God, Inc., based in Las Vegas, NV,filed a Chapter 11 petition (Bankr. D. Nev. Case No. 17-13475) onJune 28, 2017. Angela J. Lizada, Esq., at Lizada Law Firm Ltd.,serves as bankruptcy counsel.In its petition, the Debtor estimated $11.04 million in assets and$3.53 million in liabilities. The petition was signed by Bruce A.Morris, its pastor. CAREY CRUTCHER: Hires Cooper & Scully as Counsel------------------------------------------------Carey Crutcher, Inc., seeks authority from the U.S. BankruptcyCourt for the Southern District of Texas to employ Cooper & Scully,PC, as counsel to the Debtor.Carey Crutcher requires Cooper & Scully to: a. prepare and file schedules and a statement of financial affairs; b. negotiate with creditors and handle routine motions such as motions for relief from stay, cash collaterals motions and myriad of bankruptcy motions that will be filed in the bankruptcy case; c. file objections to claims, if necessary; d. perform legal work necessary to sell property of the estate; e. draft, file and prosecute adversary proceedings necessary to determine the extent, validity of liens; f. draft, file and prosecute avoidance actions if necessary; g. draft, file and prosecute adversary proceedings, motions and contested pleadings as necessary; h. prepare and file a Plan and Disclosure Statement; i. conduct discovery that is required for the completion of the case or any matter associated with the case; j. perform all legal matters that are necessary for the completion of the case; and k. perform miscellaneous legal duties to complete the bankruptcy case.Cooper & Scully will be paid at these hourly rates: Attorneys $425 Paralegals $100Prior to the filing of the bankruptcy, the Debtor paid Cooper &Scully $1,717 for the filing fee.Cooper & Scully will also be reimbursed for reasonableout-of-pocket expenses incurred.Julie M. Koenig, senior attorney of Cooper & Scully, P.C., assuredthe Court that the firm is a "disinterested person" as the term isdefined in Section 101(14) of the Bankruptcy Code and does notrepresent any interest adverse to the Debtor and its estates.Cooper & Scully can be reached at: Julie M. Koenig, Esq. COOPER & SCULLY, P.C. 815 Walker St., Suite 1040 Houston, TX 77002 Tel: (713) 236-6800 Fax: (713) 236-6880 About Carey Crutcher, Inc.Carey Crutcher, Inc., filed a Chapter 11 bankruptcy petition (S.D.Tex. Case No. 17-36696) on December 13, 2017, listing under $50,000in estimated assets and under $500,000 in estimated liabilities. The Company is in the Navigational, Measuring, Electromedical, andControl Instruments Manufacturing industry. The Debtor hired JulieM. Koenig, Esq., at Cooper & Scully, P.C.CASTEX ENERGY: Unsecureds' Recovery Unknown Under Chap. 11 Plan---------------------------------------------------------------Castex Energy Partners, L.P., and its affiliates filed with theU.S. Bankruptcy Court for the Southern District of Texas adisclosure statement for its joint plan of reorganization datedNovember 29, 2017.Each holder of an Allowed Other Secured Claim shall receive, at theoption of the applicable Debtor(s) (in consultation with thePrepetition Agent) and in full and complete settlement, release,and discharge of, and in exchange for, such Claim: (i) payment in full in Cash; (ii) delivery of collateral securing any such Claim; (iii) reinstatement pursuant to section 1124 of the Bankruptcy Code; or (iv) other treatment rendering such Claim Unimpaired. On the effective date or as soon thereafter as practicable, eachHolder of an Allowed Priority Non-Tax Claim shall receive, at theoption of the applicable Debtor(s) (in consultation with thePrepetition Agent) and in full and complete settlement, release,and discharge of, and in exchange for, such Claim: (i) payment in full in Cash; or (ii) other treatment rendering such Claim Unimpaired On the effective date or as soon thereafter as practicable, eachHolder of an Allowed RBL Secured Claim shall receive, in full andcomplete settlement, release, and discharge of, and in exchangefor, such Claim after allocation and reservation for the GeneralEquity Pool (if applicable) and the Management Incentive Plan, itsPro Rata share of 100% of the remaining Equity Interests in Castex2005 or a newly formed holding company acceptable to thePrepetition Agent and the Required Consenting Lenders (such holdingcompany, "Reorganized Castex Holdco," and such Equity Interests inReorganized Castex 2005 or Reorganized Castex Holdco, as the casemay be, the "New Equity Interests"), subject to dilution by eachDIP Lender's DIP Equity Share; and the certain commitments and/orloans.Each Holder of an Allowed General Unsecured Claim shall receive, infull and complete settlement, release, and discharge of, and inexchange for, such Claim, its Pro Rata share of the General EquityPool, which distribution of New Equity Interests shall be made inaccordance with Article 8.8 of the Plan; provided, however, that ifeach Class of General Unsecured Claims accepts the Plan, (i) the distribution of New Equity Interests to the DIP Lenders and to the Holders of RBL Secured Claims shall not be subject to dilution by the General Equity Pool and (ii) each Prepetition Lender voting to accept the Plan and not electing to opt out of the releases set forth in the Plan shall waive any recovery or distribution on account of (but not voting rights in respect of) its Allowed RBL Deficiency Claim for the benefit of Holders of other Allowed General Unsecured Claims (collectively, the "Beneficiary Claimants") such that each Beneficiary Claimant shall not receive any distribution on account of its Allowed General Unsecured Claim other than Cash in an amount equal to the lesser of (i) the Allowed amount of its General Unsecured Claim and (ii) its Pro Rata share of the General Unsecured Claims Cash Distribution, which distribution of Cash shall be made in accordance with Article 8.8 of the Plan. Allowed Intercompany Claims shall be, at the option of the Debtors(with the consent of the Prepetition Agent and the RequiredConsenting Lenders), (i) reinstated and treated in the ordinary course of business; or (ii) cancelled and discharged without any distribution on account of such Claims. On the effective date, each Section 510(b) Claim shall becancelled, discharged, released, and extinguished, and there shallbe no distribution to Holders of Section 510(b) Claims on accountof such Claims. Except to the extent necessary to implement the RestructuringTransactions, on the effective date, all Equity Interests in Castex2005 shall be cancelled and extinguished, and shall be of nofurther force and effect, without further notice, approval, oraction, whether surrendered for cancellation or otherwise, andthere shall be no distribution to Holders of Equity Interests inCastex 2005 on account of such Equity Interests. The Debtors will fund plan distributions, as applicable, with: (a) Cash on hand; (b) Cash generated from the Reorganized Debtors' operations; (c) the proceeds of the Exit Credit Agreement; and (d) the New Equity Interests. A full-text copy of Castex Energy's disclosure statement isavailable at: http://bankrupt.com/misc/txsb17-35835-152.pdf About Castex EnergyCastex Energy Partners, L.P., is engaged in the exploration,development, production and acquisition of oil and natural gasproperties located along the southern coasts of Louisiana and Texasand onshore Louisiana. CEP is a non-operating working interestowner in approximately 375 onshore oil and gas leases located inthe State of Louisiana. There are approximately 300 wells on theOnshore Leases. CEP also holds a seismic license and proprietaryinterests in certain seismic data, through a subsidiary,CTS-Castex, LLC, and is owner of fee land interests in LafourcheParish, Louisiana, through a subsidiary, Castex Lafourche, LP.Castex Energy Partners, L.P., along with affiliates CastexOffshore, Inc., Castex Energy 2005, L.P., Castex Energy II, LLC,Castex Energy IV, LLC sought Chapter 11 protection (Bankr. S.D.Tex. Lead Case No. 17-35835) in Houston, on Oct. 16, 2017, afterreaching terms with lenders of a restructuring plan that wouldconvert debt into equity.CEP estimated assets and debt of $100 million to $500 million.The Hon. Marvin Isgur is the case judge.The Debtors tapped Kelly Hart & Pitre, as counsel; Paul HastingsLLP, as special counse; Alvarez & Marsal North America, LLC, asrestructuring advisor; and Prime Clerk LLC, as noticing and claimsagent.CD INTERNATIONAL: Files for Chapter 7; Jan. 3 Creditors Mtg. Set----------------------------------------------------------------BankruptcyData.com reported that CD International Enterprises filedfor Chapter 7 protection (Bankr. S.D. Fla. Case No. 17-24642). TheCompany, which sources and distributes industrial products in Chinaand the Americas, is represented by George Castrataro of The LawOffices of George Castrataro. The U.S. Trustee assigned to thecase scheduled a January 3, 2018 meeting of creditors under 11U.S.C. Sec. 341.CHAPELDALE PROPERTIES: Voluntary Chapter 11 Case Summary--------------------------------------------------------Debtor: Chapeldale Properties, LLC 8600 Snowden River Parkway, Suite 207 Columbia, MD 21045Type of Business: Chapeldale Properties LLC was incorporated in Maryland in 1998. Principal assets are located in Baltimore County.Chapter 11 Petition Date: December 21, 2017Case No.: 17-26995Court: United States Bankruptcy Court District of Maryland (Baltimore)Judge: Hon. David E. RiceDebtor's Counsel: David W. Cohen, Esq. LAW OFFICE OF DAVID W COHEN 1 N. Charles St., Ste. 350 Baltimore, MD 21201 Tel: (410) 837-6340 E-mail: firstname.lastname@example.com Assets: $100,000 to $500,000Estimated Liabilities: $1 million to $10 millionThe petition was signed by Ronald Talbert, manager.The Debtor did not file a list of its 20 largest unsecuredcreditors together with the petition.A full-text copy of the petition is available for free at: http://bankrupt.com/misc/mdb17-26995.pdfPending bankruptcy cases filed by affiliates: Debtor Petition Date Case No. ------ ------------- -------- College Park Investments, LLC 9/22/17 17-22678 Stein Properties, Inc. 9/22/17 17-22680 TSC/Green Acres Road, LLC 11/28/17 17-25912 TSC/JMJ Snowden River South, LLC 10/23/17 17-24510 TSC/Nesters Landing, LLC 11/28/17 17-25913CHIN FAMILY LIMITED: Hires Sussman Shank as Counsel---------------------------------------------------Chin Family Limited Partnership and its debtor-affiliates seekauthority from the U.S. Bankruptcy Court for the District of Oregonto employ Sussman Shank LLP, as counsel to the Debtors.Chin Family Limited requires Sussman Shank to: a. provide the Debtors with advice on their duties and responsibilities as debtors-in-possession; b. prepare and file schedules, obtaining DIP financing and use of cash collateral; c. defend motions for relief from stay, analysis and objections to claims, prosecution and defense of adversary proceedings; d. formulate and approve a joint plan and disclosure statement; e. negotiate with creditors and other parties in interest; and f. provide all other matters requiring legal representation of the Debtors in their cases.Sussman Shank will be paid at these hourly rates: Thomas W. Stilley $395 Jeffrey C. Misley $395 Susan S. Ford $395 Howard M. Levine $395 Kathy A. Moody $210 Majesta P. Racanelli $200 Janine E. Hume $175The Debtors provided Sussman Shank with a $100,000 retainer,$25,404.88 of which was applied to attorneys' fees and expensesincurred prior to filing of the petitions, including the Chapter 11filing fees for all three Debtors, leaving $74,595.12 as a retainerto be applied to postpetition fees and expenses.Sussman Shank will also be reimbursed for reasonable out-of-pocketexpenses incurred.Thomas W. Stilley, partner of Sussman Shank LLP, assured the Courtthat the firm is a "disinterested person" as the term is defined inSection 101(14) of the Bankruptcy Code and does not represent anyinterest adverse to the Debtors and their estates.Sussman Shank can be reached at: Thomas W. Stilley, Esq. Jeffrey C. Misley, Esq. SUSSMAN SHANK LLP 1000 S.W. Broadway, Suite 1400 Portland, OR 97205-3089 Tel: (503) 227-1111 Fax: (503) 248-0130 E-mail: firstname.lastname@example.com firstname.lastname@example.com About Chin Family Limited PartnershipChin Family Limited Partnership and its debtor-affiliates filed aChapter 11 bankruptcy petition (Bankr. D. Or. Case No. 17-63784) onDecember 12, 2017. The Debtors hired Sussman Shank LLP, ascounsel.CLUB VILLAGE: Exclusive Plan Filing Period Extended Thru Feb. 20----------------------------------------------------------------Judge Paul G. Hyman, Jr. of the U.S. Bankruptcy Court for theSouthern District of Florida has extended Club Village, LLC'sexclusive periods in which to file a plan of reorganization anddisclosure statement, and solicit acceptances of its plan 90 daysthrough February 20 and April 23, 2018, respectively.The Troubled Company Reporter has previously reported that theDebtor sought 90-day extension of its exclusive periods, relatingthat the Court has entered an Order Granting Motion to ApproveCompromise between the Debtor and its secured lender. Meanwhile,the Debtor said that it is still analyzing claims to determinevarious treatments and whether a plan will in fact be needed, orwhether the Debtor will seek voluntary dismissal. Therefore, theDebtor needed additional time to file its plan and disclosurestatement. About Club VillageClub Village, LLC, a single asset real estate business based in1601 NW 13 St., Boca Raton, Florida, filed a Chapter 11 petition(Bankr. S.D. Fla. Case No. 16-21497) on Aug. 22, 2016. Thepetition was signed by Fred DeFalco, managing member. The case isassigned to Judge Erik P. Kimball. The Debtor disclosed totalassets at $11.5 million and total debts at $11.2 million.The Debtor is represented by Aaron A. Wernick, Esq., at Furr &Cohen. The Debtor engaged Andrew Sodl, Esq., at Akerman LLP asspecial counsel; and Paul Rubin, EA, Mtax and Rubin & Associates,CPA Firm, PA, as accountants.No trustee, examiner or statutory committee has been appointed inthe Debtor's case.COMBIMATRIX CORP: History of Losses Raise Going Concern Doubt-------------------------------------------------------------CombiMatrix Corporation filed its quarterly report on Form 10-Q,disclosing a net loss of $610,000 on $4.01 million of totalrevenues for the three months ended September 30, 2017, comparedwith a net loss of $856,000 on $3.25 million of total revenues forthe same period in 2016. For the nine months ended September 30, 2017, the Company recordeda net loss of $1.50 million on $12.04 million of total revenues,compared to a net loss of $3.58 million on $9.33 million of totalrevenues for the same period last year.At September 30, 2017, the Company had total assets of $7.74million, total liabilities of $2.46 million, and $5.27 million intotal stockholders' equity.The Company has a history of incurring net losses and net operatingcash flow deficits. It also incur expenses from deploying newtechnologies and from continuing to develop new and improvingexisting commercial diagnostic testing services and relatedtechnologies. As a result, these conditions raise substantialdoubt regarding the Company's ability to continue as a goingconcern beyond twelve months from the date of this filing. As ofSeptember 30, 2017, the Company has cash, cash equivalents andshort-term investments of $2.4 million. Also, the combination ofcontinued revenue and cash reimbursement growth the Company hasexperienced over the past several quarters, coupled with improvedgross margins and cost containment of expenses leads management tobelieve that it is probable that its cash resources will besufficient to meet its cash requirements for current operationsthrough and beyond the first quarter of 2018, when the Companyanticipates achieving cash flow break-even status (excludingmerger-related expenses). If necessary, management also believesthat it is probable that external sources of debt and/or equityfinancing could be obtained based on management's history of beingable to raise capital coupled with current favorable marketconditions.A copy of the Form 10-Q is available at: https://is.gd/aADdNv About CombiMatrix CorporationCombiMatrix Corporation provides molecular diagnostic solutionsand comprehensive clinical support to foster the highest quality inpatient care. CombiMatrix specializes in pre-implantation geneticdiagnostics and screening, prenatal diagnosis, miscarriage analysisand pediatric developmental disorders, offering DNA-based testingfor the detection of genetic abnormalities beyond what can beidentified through traditional methodologies. The Company'stesting focuses on advanced technologies, including singlenucleotide polymorphism chromosomal microarray analysis,next-generation sequencing, fluorescent in situ hybridization andhigh resolution karyotyping.CONCORDIA INTERNATIONAL: S&P Lowers 9.5% Sr. Unsec Notes to 'D'---------------------------------------------------------------S&P Global Ratings lowered its issue-level rating on ConcordiaInternational Corp.'s $790 million 9.5% senior unsecured notes due2022 to 'D' from 'C' and removed the rating from CreditWatch, whereit was placed with negative implications on Sept. 18, 2017.The downgrade follows the recent announcement that Concordiadeferred its interest payment on the 9.5% senior unsecured notesdue 2022. Given S&P's view of the company's debt level asunsustainable, and ongoing restructuring discussions, it does notexpect the company to make a payment within the grace period.S&P said, "Our corporate credit rating on the company remains at'SD' (selective default) and the senior secured debt is rated'CCC-' and remains on CreditWatch with negative implications. Thecompany continues to meet its senior secured interest payments."Our recovery rating on the senior secured debt remains '3',indicating expectations for meaningful (50%-70%; rounded estimate:55%) recovery in the event of default. The recovery rating on thesenior unsecured notes remains '6', indicating our expectation fornegligible (0%-10%; rounded estimate: 0%) recovery for lenders inthe event of payment default."RATINGS LIST Concordia International Corp. Corporate Credit Rating SD Ratings Lowered; Off CreditWatch To From Concordia International Corp. $790 Mil. 9.5% Senior Unsecured Notes Due 2022 D C/Watch Neg Recovery Rating 6 (0%) 6 (0%)CONFIRMATRIX LAB: Selling Patient Accounts Receivable for $280K---------------------------------------------------------------Confirmatrix Laboratory, Inc., asks the U.S. Bankruptcy Court forthe Northern District of Georgia to authorize it to execute itsPurchase and Sale Agreement with First Portfolio Ventures I, LLCand NYX Health Recovery Services, LLC in connection with theprivate sale of patient accounts receivable to First Portfolio for$280,000, subject to possible adjustments not to exceed $50,000,subject to overbid.After the filing of the case, the Debtor identified the need toretain a collection agency to collect its sizable aged accountsreceivable. The Debtor and NYX entered, with Court's approval,into the Accounts Receivable Recovery Agreement pursuant to whichthe Debtor retained NYX to collect certain known aged accountsreceivable.NYX began reviewing and correcting, as needed, the subject agedaccounts receivable and submitting them for reimbursement by theinsurance companies. A number of these aged accounts receivablewere determined by the insurance companies to be patientresponsibility. Upon receiving the insurance companies'determinations as to the patient liability, NYX identified thePurchasedAccounts to the Debtor as an additional source of income for theestate. To prepare the Purchased Accounts for marketing, NYX hadto scrub and supplement the records with any missing information tothe extent available. In doing so, NYX incurred substantial expensein assisting, preparing for, and in conducting the marketing of thePurchased Accounts, and has agreed to take on continuingobligations to provide First Portfolio with digital related accessafter the closing to allow First Portfolio to meaningfully pursuecollection of the Purchased Accounts.NYX has agreed to accept a payment from the Debtor of 20% of thenet amounts actually received by the Debtor free and clear of anyclaims by First Portfolio under the Agreement for NYX's servicesrendered and to be rendered in connection with the sale of thePurchased Accounts. The Purchased Accounts currently representaged accounts receivable which the insurance companies havedetermined are the patients' responsibility and have a collectiveface value of approximately $166,000,000. SunTrust Bank's firstpriority lien have been paid in full from the sale of the Debtor'ssale of its real property, no known liens exist against thePurchased Accounts.The Debtor, with the crucial assistance of NYX, marketed thePurchased Accounts for sale for approximately six weeks. TheDebtor was successfully able to negotiate a purchase price of$280,000 for the Purchased Accounts, subject to possibleadjustments not to exceed $50,000. The Agreement provides for abreak-up fee equal to 2% of the Purchase Price plus a minimuminitial overbid of $75,000, although Debtor does not anticipatethat an auction will ensue considering the previous substantialmarketing that has already occurred.A copy of the Agreement attached to the Motion is available forfree at: http://bankrupt.com/misc/Confirmatrix_Laboratory_221_Sales.pdf Contemporaneously with the Motion, the Debtor has sought anexpedited hearing on the Motion as the Purchase Price is based onthe ability of the Debtor to obtain Court approval for theAgreement as soon as possible but in no event later than Dec. 29,2017, as First Portfolio contends that the inherent value of thePurchased Accounts deteriorates with each passing day. A delay inobtaining the approval of the subject sale could cause asignificant reduction to the Purchase Price or a possible entireloss of the sale to the detriment to the Debtor's estate andcreditors. For the sake of clarification, NYX continues to collectinsurance-based accounts receivable under its agreement with theDebtor as approved by the Court.The Debtor asks that the Court enter an order (i) authorizing thesale of the Purchased Accounts free and clear of liens, claims andencumbrances, (ii) authorizing it to enter and execute theAgreement, (iii) approving the payment to NYX of 20% of the netfunds received by Debtor for NYX's services rendered in making thesale possible, and (iv) waiving the 14-day stay imposed byBankruptcy Rule 6004(h).The Purchaser: FIRST PORTFOLIO VENTURES 1, LLC Attn: Matthew Maloney 3091 Governors Lake Parkway Suite 500 Peachtree Corners, GA 30071Third Party Collection Agent: NYX HEALTH RECOVERY SERVICES, LLC Attn: Michael Cain, Esq. 8440 Holcomb Bridge Road Suite 560 Alpharetta, GA 30022 About Confirmatrix LaboratoryConfirmatrix Laboratory, Inc., is a laboratory business focused ontoxicology and blood testing. Its principal place of business islocated at 1770 Cedars Road, Suite 200, Lawrenceville, GwinnettCounty, GA 30045.Confirmatrix Laboratory filed a Chapter 11 petition (Bankr. N.D.Ga. Case No. 16-69934) on Nov. 4, 2016. Ann B. Durham, CEO, signedthe petition. The Debtor estimated $1 million to $10 million inboth assets and liabilities as of the bankruptcy filing.William J. Boone, Esq., at James Bates Brannan Groover, LLP, servesas bankruptcy counsel to the Debtor. Marvin H. Willis and Smith &Howard, P.C., are the Debtor's accountant.CONIFER HOLDINGS: A.M. Best Removes 'B+' FSR From Review Negative-----------------------------------------------------------------A.M. Best has removed from under review with negative implicationsand affirmed the Financial Strength Rating (FSR) of B++ (Good) andthe Long-Term Issuer Credit Rating (Long-Term ICR) of "bbb" ofConifer Insurance Company (Conifer); the FSR of B+ (Good) and theLong-Term ICR of "bbb-" of Conifer's affiliate, White PineInsurance Company (White Pine); and the Long-Term ICR of "bb" ofits parent holding company, Conifer Holdings, Inc. (CHI) [NASDAQ:CNFR]. All are domiciled in Birmingham, MI. The outlooks assignedto Conifer's and CHI's Credit Ratings (ratings) are negative. Theoutlook assigned to White Pine's ratings is stable.The ratings reflect the companies' balance sheet strength (whichA.M. Best categorizes as strong for both Conifer and White Pine),the marginal operating performance of the companies, limitedbusiness profile and appropriate enterprise risk managementframework.Conifer's negative outlooks reflect the recent history ofunfavorable operating results due primarily to reservestrengthening and adverse reserve development primarily related toits commercial auto liability business and the possibility thatunderwriting results, excluding development covered under theadverse development cover (ADC), may be less profitable thanprojected and weaker than that of similarly rated peers.White Pine's stable outlooks reflect its recent and short historyof favorable operating results under current CHI management, offsetby the execution risk of rapid growth and the re-mixing of its bookof business.Each company's ability to generate profits to help support organiccapital growth is a very important issue that A.M. Best willmonitor over the near term. The ratings of CHI reflect standardnotching from its lead insurance subsidiary, Conifer, and theoutlook reflects the linkage of CHI's rating to that of Conifer.CHI completed its initial public offering in August 2015 and istraded on the NASDAQ Global Market. CHI's leverage and coverageratios are supportive of the ratings. Its status as a publiclytraded company offers potential financial flexibility for theenterprise with access to public debt and equity markets.These rating actions follow successful execution of strategicinitiatives and corrective actions undertaken by the company sinceSept. 1, 2017. The remedial actions include: execution of asignificant ADC; private issuance of $30 million subordinated debt;and a private equity issuance of $5 million among management andboard members. These actions alleviate for the near to medium termmany of A.M. Best's concerns and place CHI and its subsidiaries onmore solid financial footing.These actions appear to bolster capital and reserves of theoperating companies as they counter the continued adverse lossreserve development reported by Conifer through 2017, as well asthe prevailing challenges associated with this continued adversedevelopment and the earnings and capital strain placed on CHI andits subsidiaries as a result.Management is focused on exiting White Pine's Florida homeownerline of business over the next 12 to 18 months, while alsorehabilitating its commercial auto liability books at each of thesubsidiaries. Concurrently, it is refocusing its growth toward itsniche commercial specialty lines, including liability forrestaurant/bars/taverns, quick service restaurants and securityguards. A.M. Best expects underwriting results to improve in themedium term as the companies gain economies of scale in theirspecialty lines and grow into CHI's infrastructure.CONTEXTMEDIA HEALTH: Moody's Withdraws Caa1 Corp. Family Rating---------------------------------------------------------------Moody's Investors Service has withdrawn ContextMedia Health, LLC'sCaa1 Corporate Family Rating (CFR), Caa2-PD Probability of DefaultRating (PDR), and Caa1 ratings on the senior secured revolver andfirst lien term loan. The ratings have been withdrawn pursuant toMoody's guidelines for the withdrawal of ratings, as insufficientinformation is available to continue to effectively monitor theissuer's creditworthiness.Issuer: ContextMedia Health, LLC Corporate Family Rating, Withdrawn, previously Caa1 Probability of Default Rating, Withdrawn, previously Caa2-PD $50 million 5 year revolving credit facility, Withdrawn,previously Caa1 (LGD3) $325 million 5 year term loan, Withdrawn, previously Caa1 (LGD3) Outlook: changed to Rating Withdrawn from NegativeRATINGS RATIONALEMoody's has decided to withdraw the ratings because it believes ithas insufficient or otherwise inadequate information to support themaintenance of the ratings. ContextMedia Health, LLC is based in Chicago, IL and is aninformation delivery and decision support digital media companyproviding doctors' offices media content through TVs, tablets, andinteractive wallboards to educate patients while waiting inhealthcare facilities.COPPER CHIMNEY: Hires Mark S. Roher as Counsel----------------------------------------------Copper Chimney, Inc., d/b/a Copper Chimney Indian Cuisine, seeksauthority from the U.S. Bankruptcy Court for the Southern Districtof Florida to employ Mark S. Roher, P.A., as counsel to theDebtor.Copper Chimney requires Mark S. Roher to: a. give advice to the Debtor with respect to its powers and duties as Debtor in possession and the continued management of its business operations; b. advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; c. prepare motions, pleadings, orders, applications, adversary proceedings, and other legal documents necessary in the administration of the case; d. protect the interest of the Debtor in all matters pending before the court; and e. represent the Debtor in negotiation with its creditors in the preparation of a plan.Mark S. Roher will be paid at the hourly rate of $400. Mark S.Roher will be paid a $15,000 retainer. The firm will also bereimbursed for reasonable out-of-pocket expenses incurred.Mark S. Roher, president and sole shareholder of Mark S. Roher,P.A., assured the Court that the firm is a "disinterested person"as the term is defined in Section 101(14) of the Bankruptcy Codeand does not represent any interest adverse to the Debtor and itsestates.Mark S. Roher can be reached at: Mark S. Roher, Esq. MARK S. ROHER, P.A. 101 N.E. Third Ave., Suite 1518 Fort Lauderdale, FL 33301 Tel: (954) 353-2200 Fax: (877) 654-0090 E-mail: firstname.lastname@example.com About Copper Chimney, Inc.Copper Chimney, Inc., d/b/a Copper Chimney Indian Cuisine, filed aChapter 11 bankruptcy petition (Bankr. S.D. Fla. Case No. 17-24755)on December 12, 2017. The Debtor hired Mark S. Roher, P.A., ascounsel.CRESTOR GLOBAL: Taps Marilyn D. Garner as Legal Counsel-------------------------------------------------------Crestor Global Investments Delaware, LLC seeks approval from theU.S. Bankruptcy Court for the Northern District of Texas to hirethe Law Offices of Marilyn D. Garner as its legal counsel.The firm will advise the Debtor regarding its duties under theBankruptcy Code; assist in obtaining financing; investigatefraudulent transfers of its property; assist in the preparation ofa plan of reorganization; and provide other legal services relatedto its Chapter 11 case.Marilyn Garner, Esq., will charge $400 per hour. The hourly feefor the firm's legal assistant is $140. Ms. Garner disclosed in a court filing that her firm is a"disinterested person" as defined in section 101(14) of theBankruptcy Code.The firm can be reached through: Marilyn D. Garner, Esq. Law Offices of Marilyn D. Garner 2007 E. Lamar Blvd., Suite 200 Arlington, TX 76006 Phone: (817) 505-1499 Fax: (817) 549-7200 Email: email@example.com About Crestor Global Investments DelawareCrestor Global Investments Delaware, LLC owns and manages numerousresidential rental properties located in Tarrant and DallasCounties of Texas.Crestor Global sought protection under Chapter 11 of the BankruptcyCode (Bankr. N.D. Tex Case No. 17-44928) on December 4, 2017. Athuman Omar, its manager, signed the petition.At the time of the filing, the Debtor disclosed that it hadestimated assets and liabilities of less than $50,000.Judge Russell F. Nelms presides over the case.CRISPY DELIGHT: Continuing Business Income to Fund Plan-------------------------------------------------------Crispy Delight Corp. has filed with an amended disclosure statementand and amended plan with the U.S. Bankruptcy Court for the EasternDistrict of New York.Under the plan, Nissan Infiniti LT will be paid in the amount of$11,238,245.90 for the leased vehicle Nissan, 2016 and $15,968.00for the leased vehicle Infinity QX6, 2016. The claims willcontinue to be paid in accordance with the original lease terms.The plan also offers Toyota Lease Trust in the amount of $16,826.95for the leased vehicle Lexus, 2017. The claim will continue to bepaid in accordance with the original lease terms.General unsecured creditors in Class III will be paid a pro ratedpayment of 18% of the total amount of unsecured debt over a periodof 36 months.General unsecured creditors in Class IV will be paid a pro ratedpayment of 10% of the total amount of unsecured debt over a periodof 60 months.The plan will be financed from continuing business income.Full-text copies of Crispy Delight's amended disclosure statementand amended plan are available at: http://bankrupt.com/misc/nyeb17-40061-56.pdf http://bankrupt.com/misc/nyeb17-40061-55.pdf About Crispy Delight Corp.Crispy Delight Corp. sought protection under Chapter 11 of theBankruptcy Code (Bankr. E.D.N.Y. Case No. 17-40061) on January 6,2017. The petition was signed by Olga Normatova, president. At the time of the filing, the Debtor estimated assets andliabilities of less than $500,000.The Debtor retains Alla Kachan, Esq. of the Law Offices of AllaKachan P.C. as counsel.No committee of unsecured creditors has been appointed in theDebtor's case.CROWN HOLDINGS: Moody's Puts Ba2 CFR Under Review for Downgrade---------------------------------------------------------------Moody's Investors Service placed the Ba2 corporate family rating,Ba2-PD probability of default rating, and all instrument ratings ofCrown Holdings, Inc. under review for downgrade. The review followsCrown's December 19, 2017 announcement that it had entered into anagreement to buy Signode Industrial Group Holdings (Bermuda) Ltd.from The Carlyle Group in a cash transaction valued at $3.91billion. The transaction is subject to customary closing conditionsand is expected to close during the first quarter of 2018.Signode Industrial Group is a global manufacturer of industrialpackaging products and solutions. The company operates in threesegments which include Industrial Solutions, Protective Solutionsand Equipment and Tools (60%, 23% and 17% of revenue respectively).The primary raw materials used are plastic resins (PET / PP),steel, recycled products, and paper/paperboard. The companygenerated revenues of approximately $2.2 billion for the 12 monthsended September 30, 2017. Debt financing has been fully committedin support of the transaction.Moody's placed the following ratings under review for downgrade:Issuer: Crown Americas LLC -- Senior Secured Bank Credit Facilities, Placed on Review for Downgrade, currently Baa2(LGD1) -- Senior Unsecured Regular Bond/Debenture, Placed on Review for Downgrade, currently Ba3(LGD5)Issuer: Crown Cork & Seal Company, Inc. -- Senior Unsecured Regular Bond/Debenture, Placed on Review for Downgrade, currently B1(LGD6)Issuer: Crown European Holdings S.A. -- Senior Secured Bank Credit Facilities, Placed on Review for Downgrade, currently Baa2(LGD1) -- Senior Unsecured Regular Bond/Debenture, Placed on Review for Downgrade, currently Ba2(LGD3)Issuer: Crown Holdings, Inc. -- Probability of Default Rating, Placed on Review for Downgrade, currently Ba2-PD -- Corporate Family Rating, Placed on Review for Downgrade, currently Ba2The SGL-2 Speculative Grade Liquidity Rating is unchangedIssuer: Crown Metal Packaging Canada LP -- Senior Secured Bank Credit Facility, Placed on Review for Downgrade, currently Baa2(LGD1)Outlook Actions:Issuer: Crown Americas LLC -- Outlook, Changed To Rating Under Review From StableIssuer: Crown Cork & Seal Company, Inc. -- Outlook, Changed To Rating Under Review From StableIssuer: Crown European Holdings S.A. -- Outlook, Changed To Rating Under Review From StableIssuer: Crown Holdings, Inc. -- Outlook, Changed To Rating Under Review From StableIssuer: Crown Metal Packaging Canada LP -- Outlook, Changed To Rating Under Review From StableRATINGS RATIONALEThe review for downgrade reflects the deterioration in pro formacredit metrics, change in risk profile and the integration riskinherent in the transaction. Pro forma LTM leverage of over 5.5times exceeds the stated 4.5 times rating trigger (excludingsynergies). The acquisition will increase Crown's revenue by 27%and add significant exposure to the more fragmented plasticpackaging segment and more cyclical end markets.Moody's review will focus on pro forma credit metrics at close,projected synergies and plan to deleverage. The review will alsofocus on the integration plan, cost to integrate and management'sstrategy for managing the new segment. The corporate family ratingdowngrade, if any, is expected to be no more than one notch.It is unlikely the ratings are upgraded, but the ratings could beupgraded if Crown achieves a sustainable improvement in creditmetrics within the context of a stable operating and competitiveenvironment and maintains good liquidity including sufficientcushion under existing covenants. Specifically, the ratings couldbe upgraded if adjusted debt-to-EBITDA declines to below 4 times,EBITDA interest coverage improves to over 5.5 times, and funds fromoperations to total debt improves to over 17%.The ratings could be downgraded if Crown fails to improve creditmetrics over the intermediate term, there is a deterioration in thecushion under existing financial covenants, and/or a deteriorationin the competitive or operating environment. Additionally, asignificant acquisition or change in the asbestos liability couldalso trigger a downgrade. Specifically, the rating could bedowngraded if adjusted debt-to-EBITDA remained above 4.5 times,EBITDA interest coverage remained below 4.5 times and/or funds fromoperations to debt remained below 14%.The principal methodology used in these ratings was PackagingManufacturers: Metal, Glass, and Plastic Containers published inSeptember 2015. CROWN HOLDINGS: S&P Affirms 'BB' CCR & Alters Outlook to Positive-----------------------------------------------------------------S&P Global Ratings affirmed its 'BB' corporate credit rating onCrown Holdings Inc. and revised the outlook on the rating topositive from stable. All issue-level and recovery ratings are unchanged.The outlook revision follows Crown's announcement that it hasreached an agreement to acquire Signode Industrial Group Holdings(Bermuda) Ltd. in a transaction valued at $3.91 billion. S&P said,"It reflects our view that the acquisition is credit enhancing.Assuming the transaction closes as presented, along with our beliefthat the company remains committed to generally maintaining S&PGlobal Ratings-adjusted leverage below 5x, we believe there is atleast a 1–in-3 chance we would raise our ratings over the next 12months. "The positive outlook indicates there is at least a 1-in-3likelihood that we would raise the ratings over the next 12 months,if the proposed transaction with Signode closes as expected and thecompany executes on its deleveraging plan such that we believesustains S&P Global Ratings-adjusted debt to EBITDA of about 5x orless."We could revise the rating outlook to stable if integrationchallenges, modest deterioration in operating performance, or moreaggressive financial policies hinder or delay the company'sdeleveraging path and we believe leverage will be sustained above5x."We could raise our ratings if Crown executes on its deleveragingplan over the next 12 months, and we believe that the company cansustain an S&P Global Ratings-adjusted debt to EBITDA of about 5xor less."CS360 TOWERS: Trustee Selling Sacramento Commercial Unit for $440K------------------------------------------------------------------Bradley Sharp, the appointed Chapter 11 Trustee of CS360 Towers,LLC, asks the U.S. Bankruptcy Court for the Eastern District ofCalifornia to authorize the sale of the real property colloquiallyknown as Condominium Unit 609 in the building located at 500 NStreet, Sacramento, California to Tom Fante and Anita Fante for$440,000, subject to overbid.A hearing on the Motion is set for Jan. 17, 2018 at 10:00 a.m.The estate owns and operates real estate assets consisting ofresidential condominium units, as well as commercial office space,located in the building at 500 N Street. The estate owns and/ormanages 34 condo units and nine commercial units at 500 N Street. The Units are encumbered by various levels of secured debt. TheUnits were initially purchased in 2011, through a transaction bywhich the Debtor and its principals purchased a defaulted note fromWells Fargo, and subsequently foreclosed on that note, therebyobtaining ownership at that tune of 72 units. Since that time, the Debtor has used the assets to generate revenueby (i) renting the units, and managing them as rentals, (ii)engaging in sales of units over the years, and (iii) using theunits as collateral to borrow substantial funds.By previous motion, the Trustee sought, and obtained, authority tosell the Units in the ordinary course of business, and the order onthat motion set forth bidding and sale procedures for such ordinarycourse sales. The Bid Procedures Order provides that, in the eventthe Trustee wants to sell any of the Units free and clear of liens,then such a proposed sale must be approved by noticed motion. Thus, the Motion is filed, asking an order of the Court authorizingthe Trustee to sell Unit 609 free and clear of liens, as furtherset forth.The Trustee proposes to sell Unit 609 to the Purchasers, or higherbidder, for $440,000, free and clear of all liens, claims, andencumbrances. The Property has been exposed to the market (theTrustee having previously obtained court authority to hire brokersto list the Units), resulting in the instant proposed sale. TheTrustee believes the purchase price is for fair value. Because thesale is subject to overbid, and will be continued to be marketed,the Court and parties in interest can be assured that the ultimatesales prices will be fair and reasonable.The Trustee asks authority to sell the Property free and clear ofthe liens identified as title exception number 14 which is a deedof trust in favor of Manmohan S. Passi and Sanjeet PassiCo-Trustees of the Passi Family Trust dated Dec. 11, 1995. Thetitle report provides that the Passi lien secures repayment of anobligation of $350,000. However, given costs of sale and arequested carve-out for the bankruptcy estate, given accruedinterest, there isinsufficient sale proceeds at the current saleamount to pay the Passi lien in full with interest. However, the Trustee continues to market the unit, and is seekingoverbids, so it is possible that by the time of the hearing on theMotion, there will be sufficient proceeds. If there is not, theTrustee will ask Passi consent to the sale pursuant to 11 U.S.C.Section 363(f}(2). The Trustee is not disputing the Passi lien,but requires a free and clear sale order based on the current saleprice.In connection and compliance with the Bid Procedures Order, theTrustee will notice and serve the requisite Notice of Sale andOpportunity to Overbid as contemplated by that Order. Should aQualified Overbid be received in response to the Notice of Sale andOpportunity to Overbid, the Trustee will notify that Court andparties in interest that there will be an auction of the Propertyto the highest bidder at the hearing on the Motion.The Trustee asks authority and approval to close the Sale throughescrow, and to pay the costs, fees, and charges set forth in theClosing Statement (or in such incremental additional amounts as mayoccur should there be a sale to an overbidder at a higher salesprice, which would incrementally increase some of those costs)without further Court approval, including the broker's commissions,which reflect percentage broker's commissions fees previouslyapproved by the Court in connection with the applications) toemploy the brokers.The Trustee further asks the Court to waive the 14-day stay underFed. R. Bank. P. 6004(h) so that the proposed sale can close assoon as possible. About CS360 TowersCS360 Towers, LLC, filed a Chapter 11 petition (Bankr. E.D. Cal.Case No. 17-20731) on Feb. 3, 2017. Mark D. Chisick, manager,signed the petition. The Debtor tapped Stephan M. Brown, Esq. atthe Bankruptcy Group, P.C., as counsel. At the time of filing, theDebtor disclosed total assets of $18.46 million and totalliabilities of $5.72 million.The case is assigned to Judge Robert S. Bardwil. Bradley Sharp was appointed as Chapter 11 Trustee for the estate ofCS360 Towers, LLC pursuant to order of the court dated March 15,2017. The assets of the estate include condominium units (bothresidential and commercial) in the building located at 500 NStreet, Sacramento, California, and various claims and causes ofaction. Attorneys for Chapter 11 Trustee Bradley Sharp: Jamie P. Dreher, Esq. DOWNEY BRAND LLP 621 Capitol Mall, 18th Floor Sacramento, CA 95814-4731 Telephone: (916) 444-1000 Facsimile: (91b) 444-2100 E-mail: firstname.lastname@example.com TOWERS: Trustee Selling Sacramento Commercial Units for $950K-------------------------------------------------------------------Bradley Sharp, the appointed Chapter 11 Trustee of CS360 Towers,LLC, asks the U.S. Bankruptcy Court for the Eastern District ofCalifornia to authorize the sale of the real property colloquiallyknown as Commercial Units 23, 24, 25, 26, 27, 28, 29, 30 and 31 inthe building located at 500 N Street, Sacramento, California toDeryl Gamron for $950,000, subject to overbid.A hearing on the Motion is set for Jan. 17, 2018 at 10:00 a.m.The estate owns and operates real estate assets consisting ofresidential condominium units, as well as commercial office space,located in the building at 500 N Street. The Units are encumberedby various levels of secured debt. The Units were initiallypurchased in 2011, through a transaction by which the Debtor andits principals purchased a defaulted note from Wells Fargo, andsubsequently foreclosed on that note, thereby obtaining ownershipat that tune of 72 units. Since that time, the Debtor has used the assets to generate revenueby (i) renting the units, and managing them as rentals, (ii)engaging in sales of units over the years, and (iii) using theunits as collateral to borrow substantial funds.By previous motion, the Trustee sought, and obtained, authority tosell the Units in the ordinary course of business, and the order onthat motion set forth bidding and sale procedures for such ordinarycourse sales. The Bid Procedures Order provides that, in the eventthe Trustee wants to sell any of the Units free and clear of liens,then such a proposed sale must be approved by noticed motion. Thus, the Motion is filed, asking an order of the Court authorizingthe Trustee to sell Unit 609 free and clear of liens, as furtherset forth.The Trustee proposes to sell the Commercial Units in bulk on theground floor of the building located at 500 N Street, free andclear of liens, claims, interests and encumbrances, to the Buyerfor $950,000, or higher bidder. The Property has been exposed tothe market (the Trustee having previously obtained court authorityto hire brokers to list the Units), resulting in the instantproposed sale. The Trustee believes the purchase price is for fairvalue. Because the sale is subject to overbid, and will becontinued to be marketed, the Court and parties in interest can beassured that the ultimate sales prices will be fair andreasonable.The Trustee has a number of business justifications for proposingto sell the Property. First and foremost, as previously set forthin the moving papers giving rise to the Sale Order, the sale ofUnits is the Debtor's business. Second, the proposed sale reducesthe administrative burden to the estate of managing the Property,and allows the estate to realize funds for the payment ofcreditors.The Trustee asks authority to sell the Property free and clear ofthe liens identified as title exception numbers 21, 22, 23, 24, 25,26, 27, and 29, which are deeds of trust in favor of (1) RonaldElvidge, (2) Karina Vaysman, (3) Michael Gilles, (4) Ratib Norzeiand Shomisa Naizi Norzei, and (5) Manrnohan S. Passi & SanjeetPassi Co-Trustees of the Passi Family Trust dated Dec. 11, 1995,but with the liens or interests of the Lienholders to attach to thesale proceeds.The face amount of these deeds of trust are as follows: Elvidge($2,060,000); Vaysman (amount not listed); Gilles ($325,000);Norzei ($250,000); Passi ($300,000). With respect to the Vaysmanand Gilles liens of record, the Trustee has filed adversaryproceedings alleging that they were recorded without considerationbeing provided, and are therefore avoidable and/or not properliens. Thus, the Vaysman and Gilles liens are the subject of abona fide dispute.The Norzei and Passi liens appear to be supported by consideration,but the respective unit that they encumber are worth well less thanthe amount of the debt asserted. Thus, the Trustee will ask toobtain Norzei and Passi's consent. Additionally, each commercialunit is subject to overbid, so if additional bidders or buyerssurface, then it is possible that the eventual sale price will begreater than the amount of these creditors respective liens. TheTrustee will also engage these creditor's representatives to obtainconsent in exchange for credit bidding rights if the creditor sowishes, with some potential expense reimbursement carve-out orcontribution to the estate.The dispute between the estate and Elvidge is relative to thetreatment and ownership of condominium units not subject to theMotion. The Elvidge liens that are the subject of the Motion doappear to be supported by consideration, but as with the Norzei andPassi liens, are not worth their face amount given the propertyvalues. However, over the course of years, Elvidge receivedmillions of dollars of payments on account of his debtcontributions to the Debtor, the application of which is subjectto dispute. With respect to the deed of trust that encumbers units107 and 108, Elvidge asserts that he has not received any paymenton account of that lien. However, Elvidge does acknowledge thereceipt of almost $2 million in debt repayments from the Debtor,though the application of those units is not properly documented. As such, the Trustee asks the Court to approve the sale of theCommercial Units free and clear of the Elvidge liens.Parties should note that the proposed Purchaser has agreed to leaseUnit 28 to the estate following the close of the sale, for theestate's use as an on-site office, at no cost to the estate. In connection and compliance with the Bid Procedures Order, theTrustee will notice and serve the requisite Notice of Sale andOpportunity to Overbid as contemplated by that Order. Should aQualified Overbid be received in response to the Notice of Sale andOpportunity to Overbid, the Trustee will notify that Court andparties in interest that there will be an auction of the Propertyor one of the component units to the highest bidder at the hearingon the Motion.The Trustee asks authority and approval to close the Sale throughescrow, and to pay the costs, fees, and charges set forth in theClosing Statement (or in such incremental additional amounts as mayoccur should there be a sale to an overbidder at a higher salesprice, which would incrementally increase some of those costs)without further Court approval, including the broker's commissions,which reflect percentage broker's commissions fees previouslyapproved by the Court in connection with the applications) toemploy the brokers.The Trustee further asks the Court to waive the 14-day stay underFed. R. Bank. P. 6004(h) so that the proposed sale can close assoon as possible. About CS360 TowersCS360 Towers, LLC, filed a Chapter 11 petition (Bankr. E.D. Cal.Case No. 17-20731) on Feb. 3, 2017. Mark D. Chisick, manager,signed the petition. The Debtor tapped Stephan M. Brown, Esq. atthe Bankruptcy Group, P.C., as counsel. At the time of filing, theDebtor disclosed total assets of $18.46 million and totalliabilities of $5.72 million.The case is assigned to Judge Robert S. Bardwil. Bradley Sharp was appointed as Chapter 11 Trustee for the estate ofCS360 Towers, LLC pursuant to order of the court dated March 15,2017. The assets of the estate include condominium units (bothresidential and commercial) in the building located at 500 NStreet, Sacramento, California, and various claims and causes ofaction. Attorneys for Chapter 11 Trustee Bradley Sharp: Jamie P. Dreher, Esq. DOWNEY BRAND LLP 621 Capitol Mall, 18th Floor Sacramento, CA 95814-4731 Telephone: (916) 444-1000 Facsimile: (91b) 444-2100 E-mail: email@example.com REGIONAL: Moody's Hikes $59MM Rev. Bonds Rating From Ba1----------------------------------------------------------------Moody's Investors Service has upgraded Cullman Regional MedicalCenter, AL (CRMC) revenue bonds issued through the Health CareAuthority of Cullman County to Baa3 from Ba1. The upgrade to Baa3affects approximately $59 million of debt. The outlook remainsstable at the higher rating level.RATINGS RATIONALEThe upgrade to Baa3 reflects Moody's expectation that CRMC willcontinue to generate strong margins and add unrestricted cash tothe balance sheet, continuing a multi-year improvement in leverageand liquidity metrics. Additionally, the upgrade to Baa3 reflectsthe system's favorable market position and strong management team.Offsetting these strengths are the system's large debt burden, sizeand scope of operations, and limited opportunities for materialgrowth.RATING OUTLOOKThe stable outlook at the higher rating level incorporates Moody'sview that Cullman will continue to improve debt metrics driven byregular debt service payments and no plans for additionalborrowing. Additionally, Moody's expect the system will be able tocontinue to build its balance sheet and maintain strong operatingperformance in order to support the unfavorable leverage.FACTORS THAT COULD LEAD TO AN UPGRADEMaterial enterprise growth and geographic diversificationSignificant reduction in leverage and growth of liquidityFACTORS THAT COULD LEAD TO A DOWNGRADEIncrease in debtInability to maintain operating cash flow to support high debtburdenDeterioration of liquidityErosion in market share resulting in constrained utilizationmetricsLEGAL SECURITYThe bonds are secured by a revenue pledge (as defined in the bonddocuments) of the Obligated Group, which consists of CullmanRegional Medical Center (an Alabama nonprofit corporation and a501(c)(3) organization) and the Health Care Authority of CullmanCounty, and a mortgage on the land and buildings.USE OF PROCEEDSNot ApplicablePROFILECullman Regional Medical Center is a small, 145 bed and $115million in revenue hospital located in the county and city ofCullman. CRMC is a blended component unit of the Authority which iscomponent unit of Cullman County, Alabama. CRMC is a level IIItrauma center and operates a cardiac center.METHODOLOGYThe principal methodology used in this rating was Not-For-ProfitHealthcare published in November 2017. D&M INVESTMENTS: U.S. Trustee Unable to Appoint Committee---------------------------------------------------------The U.S. Trustee was unable to appoint an official committee ofunsecured creditors in the Chapter 11 case of D&M Investments,Inc., according to the statement filed with the U.S. BankruptcyCourt for the Northern District of West Virginia. About MNM Holdings and D&M InvestmentsBased in Morgantown, West Virginia, MNM Holdings LLC, is a smallbusiness debtor as defined in 11 U.S.C. Section 101(51D). Thecompany is in the real estate leasing business. D&M Investments,Inc., operates public hotels and motels.MNM Holdings LLC (Bankr. N.D. W.Va., Case No. 17-01104) and D&MInvestments, Inc. (Bankr. N.D. W. Va., Case No. 17-01105) filed aChapter 11 Petition on November 3, 2017. The case is assigned toHon. Patrick M. Flatley.The Debtors are represented by Salene Rae Mazur Kraemer, Esq.,Mazurkraemer Business Law, in Canonsburg, Pennsylvania.At the time of filing, MNM Holdings LLC, disclosed $1 million-$10million in both assets and liabilities. D&M Investments alsodisclosed $1 million-$10 million in both assets and liabilities.The petitions were signed by Alan B. Mollohan, its managing member.DATA COOLING: Selling Membership Interests in Arborwear for $90K----------------------------------------------------------------Data Cooling Technologies, LLC, asks the U.S. Bankruptcy Court forthe Northern District of Ohio to authorize the sale of its 4.05%membership interest in a privately-owned limited liability company,Arborwear, LLC to A. Malachi Mixon, III and William M. Weber for$90,000.On Nov. 30, 2017, the Court entered the KCNA Sale Order, whichapproved the sale of substantially all of DCT's Data Cooling Assetsto KyotoCooling North America, LLC ("KCNA"). On Dec. 1, 2017, theCourt entered the Thermotech Sale Order, which approved the sale ofsubstantially all of DCT's Thermotech Assets to J&J MissionCritical, LLC. Effective Nov. 30, 2017, the sales to both J&J andKCNA closed. The Debtors are now in the process of administeringtheir remaining assets through the chapter 11 cases.In 2006, DCT made a $90,000 unsecured loan to Arborwear evidencedby the terms of a convertible promissory note. The notearrangement was similar to investment provided by the otherinvestors in Arborwear at the time. Arborwear is a privately-ownedChagrin Falls, Ohio-based company that manufactures and sellsheavy-duty canvas work pants, shirts, outerwear, and utility boots. DCT received periodic interest payments on its loan from Arborwearthrough June 30, 2016.In August 2016, Arborwear converted each of its 2006 convertiblepromissory notes into equity, including DCT's $90,000 promissorynote. As a result of this conversion, DCT's loan became 4.05%common stock in Arborwear ("Membership Interest"). DCT now desiresto sell the Membership Interest so that the investment may beliquidated for the benefit of its bankruptcy estate. In late fall 2017, the Buyers approached DCT's board with an offerto buy the Membership Interest for an aggregate price of $90,000(to be split evenly between the Buyers, with a $45,000 purchaseprice and 2.025% eventual ownership interest each, as reflected inthe Agreements). The Buyers are each equity holders of DCT,members of DCT's board of directors, and insiders of DCT. They'realso already current investors and members in Arborwear. Mr.Weber's son is the manager of Arbowear.A copy of the Agreements attached to the Motion is available forfree at: http://bankrupt.com/misc/Data_Cooling_227_Sales.pdfDCT is aware that the proposed transaction is an insidertransaction but believes that it maximizes value for the estate. After receiving the offer from the Buyers, Richard Szekelyi, thecurrent Chief Restructuring Officer of DCT, conducted anindependent analysis of Arborwear's financial statements, thepotential value of the Membership Interest, and the offer from theBuyers. Mr. Szekelyi concluded that the offer was a fair price. The disinterested members of DCT's board of directors, with theBuyers recused, held a board meeting to evaluate the offer. TheBoard reviewed the offer and noted that it should be subject tomarket evaluation to the extent possible.DCT asks authority to convey the Membership Interest free and clearof all Interests.Arborware is a private company that is closely held, and certaincontractual restrictions do not permit the Membership Interest tobe offered for sale on the open market. Only current members ofArborwear may purchase other members' investments. Indeed, theArborwear Operating Agreement requires that any member of Arborwearselling its membership interest must notify the other members ofArborwear, and any such other members of Arborwear (or Arborwearitself) may offer to purchase the marketed membership interest forthe same or a higher price than the original offer. Therefore,after DCT received the offer from the Buyers to purchase theMembership Interest, DCT (through Arborwear's manager) notifiedArborwear and its other members of the potential sale of itsMembership Interest (and proposed price) in accordance with theOperating Agreement via a letter dated Oct. 26, 2017. As of the date of the filing of the Motion, DCT had not receivedany other offers from any other members of Arborwear (or Arborwearitself) to purchase the Membership Interest at the same or a higherprice. Finally, as required by the Operating Agreement, DCT hasasked the consent of the manager of Arborwear for the sale of theMembership Interest. The Manger provided his consent to thesale.DCT submits that the proposed sale of the Membership Interest tothe Buyers represents the highest and best offer for the MembershipInterest, as the offer from them is currently the only viable offerto purchase the Membership Interest under the currentcircumstances. The proposed sale of the Membership Interest willallow DCT to efficiently and effectively liquidate one of theremaining valuable assets of the estate for the benefit of itscreditors. Therefore, DCT asks the Court to approve the reliefsought.The Debtor asks the Court to waive the 14-day stay set forth inBankruptcy Rule 6004(h). About Data CoolingData Cooling Technologies LLC is the exclusive North Americanlicensee of US Patent No. 7753766. The KyotoCooling patentedsolution utilizes a heat wheel and an indirect economizationprocess to produce the most reliable and efficient coolingtechnology in the data center industry.Based in Streetsboro, Ohio, Data Cooling Technologies LLC and DataCooling Technologies Canada LLC filed Chapter 11 petitions (Bankr.N.D. Ohio Lead Case No. 17-52170) on Sept. 8, 2017. The petitionswere signed by Gregory Gyllstrom, chief executive.At the time of filing, Data Cooling estimated assets andliabilities at $10 million to $50 million. Data Canada estimatedassets of less than $50,000 and liabilities of less than $500,000.The Hon. Alan M. Koschik presides over the case. The Debtors tapped McDonald Hopkins LLC, as counsel, and WesternReserve Partners LLC, as investment banker.The official committee of unsecured creditors formed in the caseretained Dahl Law LLC as its legal counsel.DOOMAWENDSCHUH LLC: Taps McDonald & Rovens Lamb as Counsel----------------------------------------------------------Doomawendschuh, LLC seeks approval from the U.S. Bankruptcy Courtfor the Southern District of Florida to hire James E. McDonald,P.A. and Rovens Lamb, LLP as special litigation counsel.Both firms will represent the Debtor in an adversary case it filedagainst a certain Daniel Clemens (Case No. 17-01390-LMI). Theywill be paid a contingency fee, which is 40% of the amountrecovered by the Debtor.McDonald and Rovens Lamb do not represent any interest adverse tothe Debtor or its estate, according to court filings.The firms can be reached through: James E. McDonald, Esq. James E. McDonald, P.A. The Barrister Building 8821 S.W. 69th Court Miami, FL 33156 Phone: (305) 662-6160/(305) 670-2020 Fax: (305) 662-6164 Email: firstname.lastname@example.com - and – Douglas J. Rovens, Esq. Rovens Lamb, LLP 1500 Rosecrans Avenue, Suite 418 Manhattan Beach, CA Phone: (310) 536-7830 Fax: (310) 872-5026 Email: firstname.lastname@example.com About Doomawendschuh LLCHeadquartered in Miami, Florida, Doomawendschuh, LLC, filed forChapter 11 bankruptcy protection (Bankr. S.D. Fla. Case No.17-18495) on July 6, 2017, estimating its assets and liabilities atbetween $100,001 and $500,000 each. Aleida Martinez Molina, Esq.,at Weiss Serota Helfman Cole & Bierman, P.L., serves as theDebtor's bankruptcy counsel.DPL INC: S&P Raises ICR to 'BB', On CreditWatch Negative--------------------------------------------------------S&P Global Ratings raised the issuer credit ratings on DPL Inc.(DPL) and subsidiary Dayton Power & Light Co (DP&L) to 'BB' from'BB-' and placed the ratings on CreditWatch with positiveimplications. S&P said, "We also raised our rating on DPL's senior unsecured debtto 'BB' from 'BB-' and our rating on DP&L's senior secured debt to'BBB' from 'BBB-'. At the same time, we placed these ratings onCreditWatch with positive implications."Our '1+' recovery rating on DP&L's senior secured debt isunchanged. In addition, our '4' recovery rating on DPL's seniorunsecured debt is unchanged, indicating our expectation for average(30%-50%; rounded estimate: 30%) recovery in the event of a paymentdefault."Our ratings upgrade follows DPL's announcement that it has reachedan agreement to sell its merchant generation and related assets,including Tait, Montpelier, Yankee, Hutchings, Monument, and Sidneygenerating stations, totaling about 973 megawatts (MW) of merchantgeneration, which raises our confidence that the company willaccomplish its transformation to a low-risk transmission anddistribution (T&D) utility. A completed sale could support astronger business risk profile assessment. We revised ourcomparable rating analysis modifier to neutral from negative,reflecting our expectations of improvements to DPL's business riskthat mitigates the company's relatively weak financial measures,including funds from operations (FFO) to debt of about 9.6%, or thelower end of the range for its financial risk profile category."The CreditWatch listing with positive implications reflects ourexpectations of further improvements to DPL's business risk oncethe transaction closes. We may also reassess the strategicrelationship between DPL and its parent, The AES Corp., as DPL'sbusiness model continues to evolve."DUNCANLITE LABORATORY: U.S. Trustee Unable to Appoint Committee---------------------------------------------------------------The U.S. Trustee was unable to appoint an official committee ofunsecured creditors in the Chapter 11 case of DuncanliteLaboratory, Inc., according to a statement filed with the U.S.Bankruptcy Court for the District of Arizona. About Duncanlite Laboratory Inc.Duncanlite Laboratory, Inc. is a privately-owned dental laboratorybusiness in Cottonwood, Arizona.The Debtor sought protection under Chapter 11 of the BankruptcyCode (Bankr. D. Ariz. Case No. 17-12220) on October 13, 2017. Linda L. Duncan, its secretary-treasurer, signed the petition.As of September 30, 2017, the Debtor had $802,990 in assets and$935,476 in liabilities.Judge Daniel P. Collins presides over the case.ENBRIDGE INC: Moody's Lowers Subordinate Shelf Rating to Ba2------------------------------------------------------------Moody's Investors Service downgraded the senior unsecured ratingsof Enbridge Inc. (ENB) to Baa3 from Baa2. In addition, Moody'schanged the short term commercial paper rating for Enbridge (US)Inc. to P-3 from P-2 and the subordinate ratings to Ba2 from Ba1.At the same time, Moody's changed the rating outlook for Enbridgeto stable from negative. For a full list of rating actions see theend of this press release."The downgrade follows Moody's review of Enbridge's strategic plansthat were announced on November 29th and expanded upon at thecompany's recent investor days on December 12th and 13th," saidGavin MacFarlane, Vice President/Senior Credit Officer. "Ourassessment of the plans is that the actions articulated areinsufficient to improve the financial profile of the company in atimely manner to be in line with Moody's previously statedexpectations for a Baa2 rating."RATINGS RATIONALEThe downgrade reflects ongoing high leverage at Enbridge Inc. Forexample, Moody's calculates a ratio of debt to EBITDA at 6.4x forthe twelve months ended September 2017. Attaining a ratio below5.5x, for a sustained period of time, is an important threshold tomaintain the Baa2 rating. On a prospective basis, taking intoconsideration the actions announced, the ratio could fall to the5.3x -- 5.5x range, but Moody's views the execution risksassociated with Enbridge's stated actions to be sufficiently highthat achieving those levels in 2018 would be challenging.ENB's Baa3 senior unsecured rating reflects the company's largesize and diverse, low risk asset base. ENB's low-risk businessposition is supported by its ownership of an extensive, growingcrude oil and gas network on which North America relies. Moody'sexpects Enbridge's portfolio of assets to continue generatingstable cash flow based on a combination of rate regulation, afavorable contractual profile and a strong competitive position.These credit strengths are offset by high leverage, a persistentlylarge capital investment program and material corporate and capitalstructure complexity. The capital structure complexity alsocontributes to meaningful structural subordination considerations.Enbridge's large capital program highlights ongoing execution risk.The company's track record for executing its capital program onschedule and within budget is faltering on its largest, most highprofile projects, including its Line 3 Replacement project.The ratings on two large Enbridge subsidiaries, Enbridge IncomeFund (Baa3 Negative) and Enbridge Energy Partners, L.P. (Baa3Stable), are unchanged as a result of this rating action.OutlookThe change in rating outlook to stable from negative reflectsEnbridge's predictable cash flow generation and large, low businessrisk asset base. The stable outlook reflects an expectation thatEnbridge will follow through on its announced strategic plans,which include some non-core asset divestitures and financing plansthat encompasses a balanced mix of both debt and equity. The stableoutlook also incorporates a view that Enbridge's key financialcredit metrics, including a ratio of debt to EBITDA, will declinetowards 5.5x during 2018, setting a path for further improvementsto financial metrics in 2019 and 2020.Factors that Could Lead to an Upgrade* Moody's adjusted debt to EBITDA is sustained comfortably below5.5x.* A large reduction in its organizational complexity and structuralsubordinationFactors that Could Lead to a Downgrade* Moody's adjusted debt to EBITDA is sustained well above 6x.* Increases in structural subordination, more aggressive financialpolicies or a material change in the company's business risk couldalso lead to a downgrade.Enbridge is a North American energy delivery company with more than18,000 miles of liquids pipelines and 200,000 miles of natural gasand natural gas liquids pipelines. ENB has five operating segments:Liquids Pipelines (53% of 2016 adjusted EBITDA), Gas Pipelines andProcessing (31%), Gas Distribution (13%), and Green Power,Transmission and EnergyServices (3%).Downgrades:Issuer: Enbridge (U.S.) Inc. -- Senior Unsecured Commercial Paper, Downgraded to P-3 from P-2Issuer: Enbridge Inc. -- Issuer Rating, Downgraded to Baa3 from Baa2 -- Preference Shelf, Downgraded to (P)Ba2 from (P)Ba1 -- Preferred Shelf, Downgraded to (P)Ba2 from (P)Ba1 -- Subordinate Shelf, Downgraded to (P)Ba1 from (P)Baa3 -- Senior Unsecured Shelf, Downgraded to (P)Baa3 from (P)Baa2 -- Pref. Stock Preferred Stock, Downgraded to Ba2 from Ba1 -- Pref. Stock Preferred Stock, Downgraded to (P)Ba2 from (P)Ba1 -- Subordinate Regular Bond/Debenture, Downgraded to Ba2 from Ba1 -- Senior Unsecured Medium-Term Note Program, Downgraded to (P)Baa3 from (P)Baa2 -- Senior Unsecured Regular Bond/Debenture, Downgraded to Baa3 from Baa2Outlook Actions:Issuer: Enbridge Inc. -- Outlook, Changed To Stable From NegativeThe principal methodology used in these ratings was MidstreamEnergy published in May 2017. ENERGY FUTURE: Majority Creditors Seek Seat in Fee Committee------------------------------------------------------------Majority Creditors Elliott Associates, L.P., Elliott International,L.P., The Liverpool Limited Partnership, and Gatwick Securities LLCand Paloma Partners Management Company and Sunrise Partners LimitedPartnership asked the U.S. Bankruptcy Court for the District ofDelaware to order the appointment of their representative to theFee Committee in place of the seat currently occupied by arepresentative of the Official Committee of Unsecured Creditors inthe Chapter 11 cases of Energy Future Holdings Corp. and its debtoraffiliates.The Majority Creditors, which hold approximately 75% of theremaining unsecured E-Side debt, seek the Court's approval of theirsubstitution onto the Fee Committee for the existing seat held bythe UCC, which endorses that appointment. According to theMajority Creditors, obtaining information about the Fee Committee'sprocess, work product and results has proven difficult and the FeeCommittee has been reluctant to disclose any of its means ormethods, and has refused to state whether specific types of workproduct exist or might be disclosed. The Majority Creditors havenot been given access to raw data, like the Fee Committee's feedatabase, or to any analysis or compilation of budgets, anticipatedadvisor spend or involvement through case closure.The Majority Creditors pointed out that since April 2017, more than$487 million in professional fees have been approved and/orrecommended for approval by the Fee Committee. This, the Creditorssaid, does not include the hundreds ofmillions of dollars inadditional accrued and accruing fees, "success" and transactionfees, and related advisor costs that may be sought in connectionwith final plan confirmation.According to the Creditors, the Fee Committee has secured modestreductions from these professionals in the amount of approximately$13 million, while incurring approximately $7 million in fees andexpenses paid to the Committee Chairman and his counsel. At thesame time, the financial position of unsecured E-Side creditorsduring the bankruptcy has eroded by approximately $1 billion.Representing the Majority Creditors, Jeffrey M. Gorris, Esq., atFriedlander & Gorris, P.A., in Wilmington, Delaware, told the Courtthat, in addition to their intrinsic financial interest in the FeeCommittee's success, membership will allow the Majority Creditors'representative to participate in the Fee Committee's ongoingnegotiations with professionals to reduce future expenditures writlarge. It will give advisors greater confidence that, whenreaching compromises supported by the Fee Committee, they will beless likely to face secondary inquiry or challenge from theestate's largest unsecured creditors -- helping to reduceafter-the-fact collateral negotiations and adversary litigationbefore the Court, Mr. Gorris said. This will further conserveprofessional and party resources in having to address multipleinquiries, and hopefully reduce the number of contested feedisputes during final plan confirmation, Mr. Gorris added.The Majority Creditors are represented by: Jeffrey M. Gorris, Esq. FRIEDLANDER & GORRIS, P.A. 1201 N. Market St., Suite 2200 Wilmington, DE 19801 Tel: (302) 573-3500 Fax: (302) 573-3501 Email: email@example.com - and - J. Noah Hagey, Esq. Amy Brown, Esq. BRAUNHAGEY & BORDEN LLP 7 Times Square, 27th Floor New York, NY 10036-6524 Tel: (646) 829-9403 Email: email@example.com firstname.lastname@example.com About Energy FutureEnergy Future Holdings Corp., formerly known as TXU Corp., is aprivately held diversified energy holding company with a portfolioof competitive and regulated energy businesses in Texas. Oncor, an80 percent-owned entity within the EFH group, is the largestregulated transmission and distribution utility in Texas. TheCompany delivers electricity to roughly three million deliverypoints in and around Dallas-Fort Worth. EFH Corp. was created inOctober 2007 in a $45 billion leverage buyout of Texas powercompany TXU in a deal led by private-equity companies KohlbergKravis Roberts & Co. and TPG Inc.On April 29, 2014, Energy Future Holdings and 70 affiliatedcompanies sought Chapter 11 bankruptcy protection (Bankr. D. Del.Lead Case No. 14-10979) after reaching a deal with some keyfinancial stakeholders to keep its businesses operating whilereducing its roughly $40 billion in debt.The Debtors' cases have been assigned to Judge Christopher S.Sontchi (CSS).As of Dec. 31, 2013, EFH Corp. reported assets of $36.4 billion inbook value and liabilities of $49.7 billion. The Debtors had $42billion of funded indebtedness as of the bankruptcy filing.EFH's legal advisor for the Chapter 11 proceedings is Kirkland &Ellis LLP, its financial advisor is Evercore Partners and itsrestructuring advisor is Alvarez & Marsal. T he TCEH first lienlenders supporting the restructuring agreement are represented byPaul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor, andMillstein & Co., LLC, as financial advisor.The EFIH unsecured creditors supporting the restructuring Agreementare represented by Akin Gump Strauss Hauer & Feld LLP, as legaladvisor, and Centerview Partners, as financial advisor. The EFHequity holders supporting the restructuring agreement arerepresented by Wachtell, Lipton, Rosen & Katz, as legal advisor,and Blackstone Advisory Partners LP, as financial advisor. EpiqSystems is the claims agent.Wilmington Savings Fund Society, FSB, the successor trustee for thesecond-lien noteholders owed about $1.6 billion, is represented byAshby & Geddes, P.A.'s William P. Bowden, Esq., and Gregory A.Taylor, Esq., and Brown Rudnick LLP's Edward S. Weisfelner, Esq.,Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq., Jeremy B. Coffey,Esq., and Howard L. Siegel, Esq.On May 13, 2014, the U.S. Trustee appointed the Official Committeeof TCEH Unsecured Creditors in the Chapter 11 Cases. The TCEHCommittee is composed of (a) the Pension Benefit GuarantyCorporation; (b) HCL America, Inc.; (c) BNY, as Indenture Trusteeunder the EFCH 2037 Notes due 2037 and the PCRBs; (d) LDTC, asIndenture Trustee under the TCEH Unsecured Notes; (e) Holt TexasLTD, d/b/a Holt Cat; (f) ADA Carbon Solutions (Red River); and (g)Wilmington Savings, as Indenture Trustee under the TCEH Second LienNotes. The TCEH Committee retained Morrison & Foerster LLP ascounsel; Polsinelli PC as co-counsel and conflicts counsel; LazardFreres & Co. LLC as investment banker; FTI Consulting, Inc. asfinancial advisor; and Charles River Associates as an energyconsultant.On Oct. 27, 2014, the U.S. Trustee appointed the Official Committeeof Unsecured Creditors representing the interests of the unsecuredcreditors for EFH, EFIH, EFIH Finance, and EECI, Inc. The EFH/EFIHCommittee is composed of (a) American Stock Transfer & TrustCompany, LLC; (b) Brown & Zhou, LLC c/o Belleair Aviation, LLC; (c)Peter Tinkham; (d) Shirley Fenicle, as successor-in-interest to theEstate of George Fenicle; and (e) David William Fahy. The EFH/EFIHCommittee retained Montgomery, McCracken, Walker & Rhodes, LLP, asco-counsel and conflicts counsel; AlixPartners, LLP, asrestructuring advisor; Sullivan & Cromwell LLC as counsel;Guggenheim Securities as investment banker; and Kurtzman CarsonConsultants LLC as noticing agent for both the TCEH Committee andthe EFH/EFIH Committee.Given the size and complexity of the Chapter 11 Cases, the U.S.Trustee proposed, and the Debtors and the TCEH Committee agreed, torecommend that the Bankruptcy Court appoint a committee to, amongother things, review and report as appropriate on fee applicationsand statements submitted by the professionals paid for by theDebtors' Estates. The Fee Committee is comprised of four members:(a) one member appointed by and representative of the Debtors(Cecily Gooch, Vice President and Special Counsel forRestructuring, Energy Future Holdings); (b) one member appointed byand representative of the TCEH Creditors' Committee (Peter Kravitz,Principal and General Counsel, Province Capital); (c) one memberappointed by and representative of the U.S. Trustee (Richard L.Schepacarter, Trial Attorney, Office of the United States Trustee);and (d) one independent member (Richard Gitlin, of Gitlin andCompany, LLC). The Fee Committee retained Godfrey & Kahn, S.C. ascounsel; and Phillips, Goldman & Spence, P.A. as co-counsel. * * *On Aug. 29, 2016, Judge Sontchi confirmed the Chapter 11 exit Plansof two of Energy Future Holdings Corp.'s subsidiaries, powergenerator Luminant and retail electricity provider TXU Energy Inc.(the "T-Side Debtors"). The Plan became effective on Oct. 3,2016.On Aug. 20, 2017, Sempra Energy (NYSE: SRE) announced an agreementto acquire Energy Future Holdings, the indirect owner of 80 percentof Oncor Electric Delivery Company, LLC, operator of the largestelectric transmission and distribution system in Texas. Under theagreement, Sempra Energy will pay approximately $9.45 billion incash to acquire Energy Future and its ownership in Oncor, whiletaking a major step forward in resolving Energy Future'slong-running bankruptcy case. The enterprise value of thetransaction is approximately $18.8 billion, including theassumption of Oncor's debt.On Nov. 3, 2017, the Bankruptcy Court entered an order closing theChapter 11 cases of 40 affiliate debtors. The claims assertedagainst, and interests asserted in, the Closing Cases aretransferred to the lead case of Texas Competitive Electric HoldingsCompany LLC, Case No. 14-10978. A list of the Closing Cases isavailable for free at:http://bankrupt.com/misc/EnergyFuture_decreeclosing40.pdfENPRO INDUSTRIES: Moody's Hikes CFR to Ba3; Outlook Stable----------------------------------------------------------Moody's Investors Service upgraded the Corporate Family Rating("CFR") and Probability of Default Ratings of EnPro Industries,Inc. to Ba3 and Ba3-PD from B1 and B1-PD, respectively.Concurrently, Moody's affirmed the company's B1 senior unsecurednotes rating and SGL-2 Speculative Grade Liquidity ("SGL") ratings.The ratings outlook is stable.Moody's took the following rating actions on EnPro Industries,Inc.:Ratings Upgraded: Corporate Family Rating, to Ba3 from B1 Probability of Default Rating, to Ba3-PD from B1-PDRatings Affirmed: 5.875% senior notes due September 2022, at B1 (LGD4) Speculative Grade Liquidity rating, at SGL-2Outlook, StableRATINGS RATIONALEThe ratings upgrade is based on both the expectation that thecompany will experience top line growth and earnings from positiveend-market fundamentals in the majority of its end-markets as wellas the benefits from the consummation of the ACRP ("Asbestos ClaimsResolutions Process") joint plan of reorganization that becameeffective on July 31, 2017. Due to the consummation of the Plan,the company's seven-year asbestos litigation burden has beenconcluded and the company has regained control of its GarlockSealing Technologies LLC and related entities subsidiaries ("GST").These entities no longer operate under bankruptcy and theirfinancial statements have been reconsolidated into EnPro's reportedGAAP financial statements. Furthermore, the company has publiclyannounced its intent to manage towards a net debt/EBITDA (companydefined) leverage range of 2.0x to 2.5x over the long-term vs. theLTM September 2017 pro forma figure of 2.1x.The consequence of the consummation of the Plan is that pro formafor the reconsolidation, the company's credit metric profile hasimproved. Pro forma debt/EBITDA (including Moody's standardadjustments) improves by approximately two turns to 2.9x for thelast twelve months ended September 30, 2017 versus close to 5.0xbefore the Plan. Pro forma interest coverage has also improved to4.0x from approximately 2.0x. Additionally, free cash flow to debtis expected to reach 10-15% over the next twelve to eighteen monthsversus the low to mid-single digit range. The improved creditprofile is occurring concurrent with signs of a continued moderateimprovement in earnings.Pro forma reconsolidation, EnPro's enhanced free cash flow profileenables it to focus on deploying its capital towards growthinitiatives, investments in R&D and bolt-on acquisitions. Thecompany is well-positioned to continue to attain greater revenuescale and operating efficiencies.EnPro's Ba3 CFR reflects the company's good scale (approximately$1.4 billion pro forma GST reconsolidation revenues), brandstrength and end-market diversity ranging from heavy-duty truckingand general industrial to semiconductors, energy and powergeneration. The ratings also favorably consider EnPro's geographicdiversity with slightly over 40% of revenues generated abroad. Manyof the company's end-markets including semiconductors, generalindustrial, oil & gas, and metals and mining have seen moderateimprovement that is expected to continue, more than offsettingexpected continued softness in its industrial gas turbine andnuclear businesses.The company has visibility into near-term order trends andunderlying demand fundamentals in many of its key end-marketsindicate moderate improvement in 2018. In addition to the near-termvisibility of the company's revenue stream, approximately half ofthe company's business is aftermarket-related which adds a degreeof revenue stability and predictability.EnPro's Speculative Grade Liquidity rating of SGL-2 denotes Moody'sexpectation that the company will maintain a good liquidity profileover the next twelve to eighteen months characterized by over $75million of free cash flow generation annually, at least 10% ofrevolver availability-to-revenue under its $300 million revolvingcredit facility and over $150 million of cash on the balance sheet(majority held outside of the US). The company is expected tomaintain ample headroom under its financial maintenance covenantswhile offshore assets provide a source of alternate liquidity.The stable outlook reflects the expectation that the company willgrow revenues and earnings in the low single digit range over thenext twelve to eighteen months due to end-market improvement andcost savings from restructuring actions while maintaining a goodliquidity profile.The ratings could be downgraded if financial leverage increasestowards 4.0x and/or EBITA/interest coverage weakens to below 3.0xand is sustained at those levels, the company's financial policybecomes more aggressive through debt-financed share repurchases ordividends as well as significant erosion in its liquidity profile.The ratings could be upgraded if the company were to grow revenuesabove the mid-single digit level, debt-to-EBITDA were to improve tobelow 2.5x on a sustained basis, EBITA-to-interest were to improveto the 5.0x range, and free cash flow-to-debt were to exceed 15%.The principal methodology used in these ratings was GlobalManufacturing Companies published in June 2017. Charlotte, North Carolina based EnPro Industries, Inc. (EnPro)manufactures and markets a variety of proprietary engineeredproducts, including sealing products, metal polymer and filamentwound bearings, components and service for reciprocatingcompressors, diesel and dual-fuel engines and other engineeredproducts for use in critical applications by industries worldwide.The company's revenues were approximately $1.4 billion for thetwelve months ended September 30, 2017 pro forma for GSTreconsolidation.EQUINIX INC: Metronode Acquisition No Impact on Moody's Ba3 CFR---------------------------------------------------------------Moody's Investors Service said that Equinix's agreement to acquireAustralian data center operator Metronode will not impact its Ba3corporate family rating or positive outlook. Equinix has agreed toacquire Metronode for approximately $800 million in cash. Moody'sexpects the company to use existing liquidity to finance theacquisition and to continue to pursue a balanced approach tocapital allocation that includes both debt and equity. Equinix hasimplemented a $750 million at-the-market (ATM) equity issuanceprogram and has issued equity in the past to finance M&A. Theacquisition of Metronode will further strengthen Equinix'scompetitive position in the Asia-Pacific region, adding 10 datacenters in Australia to the company's existing 5 data centersthere.Equinix's consistent M&A adds to its global scale and enhances itscompetitive position. However, the pace of M&A coupled with thecash flow deficits from its high dividend requires a significantamount of incremental capital. Over the past 5 years, this hasresulted in approximately flat leverage of around 5x (Moody'sadjusted Debt to EBITDA). The positive outlook reflects Moody'sexpectation that leverage will decline towards 4.5x. GivenEquinix's persistent negative free cash flow after dividends, ahigher rating is very unlikely without an improvement in leverage.Equinix's Ba3 corporate family rating reflects its position as theleading global independent data center operator offeringcarrier-neutral data center and interconnection services to largeenterprises, content distributors and global Internet companies.The rating also incorporates the company's stable base ofcontracted recurring revenues, its strategic real estate holdingsin key communications hubs and the favorable near-term growthtrends for data center services across the world. These positivefactors are offset by significant industry risks, intensecompetition, an aggressive M&A program and relatively high capitalintensity. The rating also reflects the company's negative freecash flow due to the high dividend associated with its REIT taxstatus. The company's recent announcement of an ongoingat-the-market (ATM) equity issuance program could offset thisnegative aspect if Equinix uses it for a consistent source ofcapital.Management has a goal of achieving investment grade ratings, whichMoody's believes would offer access to lower cost and/or longerduration debt. Equinix has several qualitative characteristics thatare consistent with an investment grade issuer, specifically itsscale, market position and business model. However, itsquantitative factors currently fall short of investment grade, inparticular leverage and free cash flow. Assuming Equinix continuesto build its qualitative strengths, the key determinants of aninvestment grade rating include leverage falling below 3.5x on aMoody's adjusted basis and positive free cash flow (calculated asCFO less capex less dividends). To the extent that Equinixconsistently issues equity to fund its annual cash flow deficit,this could offer some flexibility for the timing of the free cashflow metric transitioning to positive. Moody's ratings areprospective and are typically based upon Moody's 18 to 24 monthforward view of financial metrics.The positive outlook reflects improved leverage tolerance and amore balanced financial policy at Equinix as well as theexpectation that the company will successfully complete theintegration of the recently acquired Verizon assets. It alsoincorporates Moody's view that Equinix will continue to growrevenue and EBITDA such that leverage will fall towards the mid 4xrange (Moody's adjusted) and the company will maintain adequateliquidity as it manages the cash flow demands of its high growthbusiness and its large dividend.Moody's could raise Equinix' ratings if leverage can be sustainedbelow 4.5x and the company uses a meaningful amount of equity tofund its annual cash deficits. The ratings could be downgraded ifleverage is sustained above 5x (Moody's adjusted) for an extendedtime frame or if liquidity deteriorates.Headquartered in Redwood City, CA, Equinix, Inc. is the largestpublicly traded carrier-neutral data center hosting provider in theworld with operations in 44 markets across the Americas, EMEA andAsia-Pacific.EZRA HOLDINGS: Has Until Feb. 19 to Exclusively File Plan---------------------------------------------------------The Hon. Robert D. Drain of the U.S. Bankruptcy Court for theSouthern District of New York has extended Ezra Holdings Limitedand its affiliated debtors' exclusive periods to file a Chapter 11plan and solicit acceptances of that plan through and includingFeb. 19, 2018, and through and including April 12, 2018,respectively.As reported by the Troubled Company Reporter on Oct. 30, 2017, theDebtors asked the Court to extend by 120 days their exclusiveperiods in which to file a plan and solicit acceptance, to March 13and May 11, 2018, respectively. The Debtors asserted that thedevelopment of a plan requires addressing the Debtors' complexcapital structure and the need to review and understand theDebtors' and their respective affiliates' role in various exitstrategy scenarios. About Ezra HoldingsFounded in 1992, Ezra Holdings Limited --http://www.ezraholdings.com/-- is an offshore contractor and provider of integrated offshore solutions to the global oil and gasindustry. Ezra is incorporated in Singapore with its registeredoffice at 15 Hoe Chiang Road #28-01 Tower Fifteen Singapore 089316. Its shares were listed on the SGX Sesdaq on Aug. 8, 2003, andmoved to the Mainboard of the Singapore Exchange since Dec. 8,2005. It also issued certain notes (S$150,000,000 4.875% Notes due2018 comprised in Series 003) which have been listed on theSingapore Exchange since 2013.Ezra established and maintains an office in the United Stateslocated at 75 South Broadway, Fourth Floor, Office Number 489,White Plains, New York 10601. Ezra also has a wholly owned NewYork subsidiary, Ezra Holdings (NY) Inc., which was incorporated inthe United States of America with 200 shares at a nominal issueprice per share.EMITS, a wholly owned subsidiary of Ezra, provides supportinginformation technology services to each of the Ezra Group'sbusiness divisions. Ezra Marine, another wholly owned subsidiaryof Ezra, has a leasehold interest in the marine base in Singaporelocated at 51 Shipyard Road, Singapore 628139 and leases out thebase's facilities and provides various support services inconnection with the marine base to the Ezra Group's operatingentities.Ezra Holdings and two affiliates -- Ezra Marine Services Pte. Ltd.and EMAS IT Solutions Pte Ltd -- filed voluntary Chapter 11bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No. 17-22405) onMarch 18, 2017, before the Honorable Robert D. Drain. Thepetitions were signed by Tan Cher Liang, director. Ezra Holdingsestimated $500 million to $1 billion in assets and $100 million to$500 million in liabilities.Lawyers at Saul Ewing, led by Sharon L. Levine, Esq., serve as theDebtors' Chapter 11 counsel. The Debtors tapped as generalSingapore counsel Drew & Napier LLC; and claims and noticing agent,Prime Clerk LLC. Foxwood LLC also serves as special counsel.The Ezra Group's joint venture, EMAS CHIYODA Subsea Limited, andcertain of its affiliate companies filed voluntary Chapter 11petitions (Bankr. S.D. Tex. Lead Case No. 17-31146) on Feb. 27,2017. ECS' wholly-owned subsidiary, EMAS-AMC AS, has also beenplaced under members' voluntary liquidation in Norway.Ezra guaranteed substantial charter hire liabilities of the ECSGroup, as well as certain loans owed by the ECS Group to financialinstitutions, Ezra faces potentially significant contingentliability if the creditors call on the guarantees.Ezra received statutory demands from Svenska Handelsbanken AB(Publ), Singapore Branch and Forland Subsea AS on Jan. 24, 2017,and Feb. 6, 2017, respectively. These statutory demands have sinceexpired under Singapore law and these two creditors may commencewinding up applications against Ezra. Ezra also received astatutory demand from VT Halter Marine, Inc. on March 9, 2017.FEDERATION EMPLOYMENT: Property Sales to Fund Plan Payments-----------------------------------------------------------Federation Employment and Guidance Service, Inc., filed with theU.S. Bankruptcy Court for the Eastern District of New York adisclosure statement and a second amended plan of liquidation.Unless the holder of an allowed administrative claim, priority taxclaim, or New York State Department of Labor (DOL) priority claim agrees to less favorable treatment, each holder of such claim, infull and final satisfaction release and settlement thereof, shallreceive payment in cash in an amount equal to such claim on or assoon as reasonably practicable after the later of (i) the effectivedate; or (ii) the date on which such claim becomes allowed orotherwise payable. Notwithstanding the preceding, to the extent the SettlementAgreement is approved by the Bankruptcy Court through entry of theConfirmation Order, the DOL priority claim shall be determined andtreated in accordance with the terms of the Settlement Agreement. Each holder of an allowed The Dormitory Authority of the State ofNew York (DASNY) secured claim or an allowed bond trustee securedclaim, in full and final satisfaction, release and settlement ofsuch claim, will either be paid the full amount of such claim orsuch claim will be otherwise assumed and paid in accordance withexisting terms as provided under the terms of the PurchaseAgreement and Settlement Agreement. Each holder of an allowed other secured claim, in full and finalsatisfaction, release and settlement of such claim, shall receiveone of the following alternative treatments, at the election of thePlan Administrator: (a) payment in full in cash on or as soon as reasonably practicable after the later of (i) the effective date and (ii) the date the claim becomes due and payable by its terms; (b) the legal, equitable and contractual rights to which such claim entitles the holder, unaltered by the plan; (c) the treatment described in Section 1124(2) of the Bankruptcy Code; or (d) all collateral securing such claim, without representation or warranty by or recourse against the debtor. To the extent that the value of the collateral securing any allowedother secured claim is less than the amount of such allowed othersecured claim, the undersecured portion of such claim shall betreated for all purposes under the plan as an unsecured claim andshall be classified as such.Each holder of an allowed other priority claim, in full and finalsatisfaction, release and settlement of such claim, shall be paidin full in cash on or as soon as reasonably practicable after thelater of (i) the effective date and (ii) the date on which suchclaim becomes allowed, unless such holder shall agree to adifferent and less favorable treatment of such claim (including,without limitation, any different treatment that may be providedfor in the documentation governing such claim or in a prioragreement with such holder).Except as otherwise provided in the plan and/or as may be agreed tobetween the debtor and the holder of any allowed unsecured claim,the holders of allowed unsecured claims, in full and finalsatisfaction, release and settlement of such allowed unsecuredclaims, shall from time to time receive pro rata distributions ofcash from the net proceeds and pro rata share of the Creditor TrustInterests. Notwithstanding the preceding, to the extent theSettlement Agreement is approved by the Bankruptcy Court throughentry of the Confirmation Order, the New York State Office ofMental Health (OMH) Claim, the New York State of Office of PeopelWith Developental Disabilities (OPWDD) Claim and the DOL UnsecuredClaim shall be treated in accordance with the terms of theSettlement Agreement. The Debtor shall seek, in connection with the entry of theConfirmation Order, authorization of a private sale, in accordancewith the terms of certain Purchase and Sale Agreements of all ofthe Debtor's right, title and interest in and to that certain realproperty, those cooperative shares and proprietary leases relatingto any cooperative units, and the sponsorship interest in WaverlyResidence, Inc. to the Jewish Board of Family and Children'sServices, Inc., United Cerebral Palsy of New York City, Inc. d/b/aAdapt Community Network, Heartshare Human Services of New York,Roman Catholic Diocese of Brooklyn, Community Services SupportCorporation (an affiliate of Citizens Options Unlimited, Inc.),Suffolk AHRC, Inc., The New York Foundling Hospital, Human First,Inc. and Family Residences and Essential Enterprises, Inc. (a/k/aFREE Inc.), each a New York not-for-profit corporation, and itselfor through an affiliate, an assignee of the BH Programs or DDPrograms as the case may be.The Debtor shall also seek authorization, in accordance with theterms of the Substitution Agreements, of a private sale of itsmembership or sponsorship interest in certain housing agencies, inone or more transactions, to the joint venture of L&M InclusionaryAcquisition LLC and the joint venture partner formed to acquiresuch housing corporation interests.The Confirmation Order also authorize one or more sales of thedebtor's right, title and interest in and to other real property.Full-text copies of Federation Employment's disclosure statementand second amended plan are available at: http://bankrupt.com/misc/nyeb15-71074-967.pdf http://bankrupt.com/misc/nyeb15-71074-966.pdf About FEGSEstablished in 1934 amidst the Great Depression, FederationEmployment & Guidance Service, Inc. ("FEGS") is a not-for-profitprovider of various health and social services to more than 120,000individuals annually in the areas of behavioral health,disabilities, housing, home care, employment/workforce, education,youth and family services. At its peak, FEGs' network of programsoperated over 350 locations throughout metropolitan New York andLong Island and employed 2,217 highly skilled professionals.FEGS sought Chapter 11 bankruptcy protection (Bankr. E.D.N.Y. CaseNo. 15-71074) in Central Islip, New York on March 18, 2015.The Debtor disclosed $86,697,814 in assets and $45,572,524 inliabilities as of the Chapter 11 filing.The Debtor filed applications to hire Garfunkel, Wild, P.C., asgeneral bankruptcy counsel; Togut, Segal & Segal, LLP, asco-counsel; JL Consulting LLC as Restructuring Advisor, asrestructuring advisor; Crowe Horwath, LLP as accountants; and RustConsulting/Omni Bankruptcy as claims and noticing agent.On March 31, 2015, the U.S. Trustee appointed the Creditors'Committee. The U.S. Trustee for Region 2 appointed three membersto the Official Committee of Unsecured Creditors. The Committeetapped Pachulski Stang Ziehl & Jones LLP as its counsel.FEGS, in July 2017, sold substantially all of its remainingresidential estate portfolio to the State of New York, New YorkState Office of Mental Health ("OMH"), and the New York StateOffice for People With Developmental Disabilities ("OPWDD") for$25,213,667. FIRST ACCEPTANCE: A.M. Best Affirms 'cc' Issuer Credit Rating-------------------------------------------------------------A.M. Best has affirmed the Financial Strength Rating (FSR) of C++(Marginal) and the Long-Term Issuer Credit Rating (Long-Term ICR)of "b" for the subsidiaries of First Acceptance Corporation(collectively referred to as First Acceptance Group) (Delaware)[NYSE:FAC]. Concurrently, A.M. Best has affirmed the Long-Term ICRof "cc" of First Acceptance Corporation. The outlooks of theseCredit Ratings (ratings) remain negative.The ratings reflect First Acceptance Group's balance sheetstrength, which A.M. Best categorizes as weak, as well as itsmarginal operating performance, limited business profile andmarginal enterprise risk management. First Acceptance Group's weakrisk-adjusted capitalization is attributable to adverse lossreserve development recognized during 2016. The group isconcentrated in the private passenger non-standard automobilebusiness, an industry segment that continues to be under pressure.Due to improvements in the economy, the automobile segment as awhole has experienced increased claims activity in the past fewyears, contributing to First Acceptance Group's recent underwritinglosses. The significant decrease in the company's surplus during2016 has resulted in elevated net underwriting leverage.Conversely, the group has substantial fee income which partiallyoffsets underwriting expenses and is a significant component of theproduct pricing that has contributed to surplus growth in earlieryears. Additionally, the purchase of the Titan Agencies by FirstAcceptance Corporation, which closed on July 1, 2015, has improvedfinancial flexibility by alleviating some of the pressure on thesubsidiaries to provide dividend capital to the holding company.The FSR of C++ (Marginal) and the Long-Term ICR of "b" have beenaffirmed with negative outlooks for the following pooledsubsidiaries of First Acceptance Corporation. - First Acceptance Insurance Company, Inc. - First Acceptance Insurance Company of Georgia, Inc. - First Acceptance Insurance Company of Tennessee, Inc.FLORIDA FOLDER: US Trustee Unable to Appoint Creditors' Committee-----------------------------------------------------------------The U.S. trustee was unable to appoint members to the officialcommittee of unsecured creditors of Florida Folder Service, Inc.,according to a notice filed with the U.S. Bankruptcy Court for theMiddle District of Florida. About Florida Folder ServiceFlorida Folder Service, Inc., a/k/a Brochure Displays, a/k/aDigital Press -- http://brochuredisplays.com/-- provides professional brochure distribution at hundreds of motels, hotelsand other tourism related businesses in prime markets throughoutthe southeast, including Florida, Georgia, Tennessee and theCarolinas. Its Florida markets include the major resortdestinations of Daytona Beach, St. Augustine, Jacksonville and NewSmyrna Beach.Florida Folder Service filed a Chapter 11 petition (Bankr. M.D.Fla. Case No. 17-03869) on Nov. 6, 2017. Terry McDonough,president, signed the petition. The case is assigned to JudgeJerry A. Funk. The Debtor is represented by Jason A Burgess, Esq.,at the Law Offices of Jason A. Burgess, LLC. At the time offiling, the Debtor disclosed $843,347 in assets and $1,040,000 inliabilities.FOUNDATION OF HUMAN: Taps Severaid and Glahn as Litigation Counsel------------------------------------------------------------------The Foundation of Human Understanding seeks approval from the U.S.Bankruptcy Court for the Eastern District of California to hireSeveraid and Glahn, PC as its litigation counsel.The firm will, among other things, provide the Debtor with legaladvice with respect to any adversarial legal proceedings, andprosecute actions to protect the Debtor's estate.Carter Glahn, Esq., the attorney who will be handling the case,charges an hourly fee of $375.Mr. Glahn disclosed in a court filing that he does not represent orhold any interest adverse to the Debtor and its estate.The firm can be reached through: Carter Glahn, Esq. Severaid & Glahn, PC 1787 Tribute Road, Suite D Sacramento CA 95815 Phone: (916) 929-8383 Fax: (916) 925-4763 Email: firstname.lastname@example.com About The Foundation of Human UnderstandingThe Foundation of Human Understanding -- https://www.fhu.com/ --was founded by Roy Masters in 1963 as a 501(c)(3) non-profit churchorganization.The Foundation of Human Understanding sought protection underChapter 11 of the Bankruptcy Code (Bankr. E.D. Calif. Case No.17-27528) on November 15, 2017. David Masters, its president,signed the petition.At the time of the filing, the Debtor disclosed $35.22 million inassets and $1.10 million in liabilities.Judge Michael S. McManus presides over the case. David Epstein,Esq., is the Debtor's bankruptcy counsel.G6 LIMITED: U.S. Trustee Unable to Appoint Committee----------------------------------------------------The U.S. Trustee was unable to appoint an official committee ofunsecured creditors in the Chapter 11 case of G6 LimitedPartnership, according to the statement filed with the U.S.Bankruptcy Court for the District of Arizona.Based in Tucson, Arizona, G6 Limited Partnership is a smallbusiness debtor as defined in 11 U.S.C. Section 101(51D). Thecompany filed a Chapter 11 Petition (Bankr. D. Ariz. Case No.17-12003) on October 10, 2017. The case is assigned to Hon. ScottH. Gan. The Debtor's counsel is Daniel J. Rylander, Esq., inTucson, Arizona.At the time of filing, the Debtor disclosed $1 million to $10million in both assets and liabilities.The petition was signed by Ernest L. Graves, manager of EMEManagement Group, LLC, general partner.The Debtor did not file a list of its 20 largest unsecuredcreditors together with the petition.GATEWAY MEDICAL: Opus Bank Proposes to Sell Assets to Pay Creditors-------------------------------------------------------------------Opus Bank filed with the U.S. Bankruptcy Court for the WesternDistrict of Washington a disclosure statement explaining itsproposed Creditor's Chapter 11 Plan for Gateway Medical Center II,LLC, and Gateway Medical Center LLC.Under the Creditor's Plan, claims against and interest in thedebtors are classified as follows: Estimated Allowed Claims/Interests Claims Source of Recovery ---------------- ------------- ------------------ Clark County $64,352.94 Cash proceeds from sale of Treasurer Secured Gateway Property Claim against Gateway Clark County $84,440.47 Cash proceeds from sale of Treasurer Secured Gateway II Property Claim against Gateway II Secured Claim of $12,730,263 Cash applied from Opus Opus against as of Account, cash collateral, and Gateway Sept. 12, 2017 proceeds from sale of Properties and Gateway Assets Secured Claim of $12,730,263 Cash collateral, and proceeds Opus against as of from sale of Properties and Gateway II Sept. 12, 2017 Gateway Assets Secured Claim of $3,317,139.98 Cash collateral, and proceeds Maxim from sale of Properties and Gateway Assets Secured Claim of $3,317,139.98 Cash collateral, and proceeds Maxim against from sale of Properties and Gateway II Gateway Assets General Unsecured $27,883.25 Proceeds from sale of Claims Properties and Gateway Assets Equity Interests N/A Estimated Recovery: 0% Form of Recovery: Cash Certain unclassified Claims will be paid in full in Cash to theextent they become Allowed Claims. The Clark County Treasurer, OpusBank, Maxim, and holders of General Unsecured Claims will receivedistributions if and when the assets of the Debtors are sold andbased upon their priority under the Bankruptcy Code. Holders ofAllowed Secured Claims will receive distributions only if holdersof Allowed Secured Claims with senior priority are paid in full.Holders of Allowed General Unsecured Claims will receivedistributions only if holders of Allowed Secured Claims are paid infull. Holders of Equity Interests in the Debtors will retain theirinterests following Confirmation but shall receive no distributionson account of such interests unless and until all payments owing toholders of Allowed Claims described in the Creditor's Plan havebeen made. A full-text copy of Opus Bank's disclosure statement is availableat: http://bankrupt.com/misc/wawb17-41780-119.pdf Opus Bank is represented by: Michael J. Gearin, Esq. Brian T. Peterson, Esq. K&L GATES LLP 925 Fourth Ave, Suite 2900 Seattle, WA 98104-1158 Tel: (206) 623-7580 Fax: (206) 623-7022 Email: firstname.lastname@example.com firstname.lastname@example.com About Gateway Medical Gateway is a Washington limited liability company formed on May 28,2004. Gateway Medical Center, LLC owns a medical office buildinglocated at 2501 NE 134th St., Vancouver, Washington. It isadjacent to a medical office building owned by affiliate GatewayMedical Center II, LLC, located at 2621 NE 134th St., Vancouver,Washington.Gateway Medical Center, LLC, and Gateway Medical Center II, LLC,filed separate Chapter 11 petitions (Bankr. W.D. Wash. Case Nos.17-41779 and 17-41780, respectively), on May 4, 2017. At the timeof filing, Gateway Medical Center had $1 million to $10 million inestimated assets and Gateway Medical Center II had $10 million to$50 million in estimated assets. Both Debtors have liabilitiesestimated to be between $1 million to $10 million.The petitions were signed by Daniel J. Boverman, manager. Thecases are assigned to Judge Brian D Lynch. The Debtor isrepresented by Tara J. Schleicher, Esq., at Farleigh Wada Witt.No trustee or examiner has been appointed. GATSBY'S MEN: Has Until February 23 to File Chapter 11 Plan-----------------------------------------------------------Judge Tony M. Davis of the U.S. Bankruptcy Court for the WesternDistrict of Texas, at the behest of Gatsby's Men Wear, LLC, hasextended the Debtor's exclusivity period to file a Chapter 11 planto February 23, 2018, conditioned on the Debtor timely filingmonthly operating reports and paying U.S. Trustee fees.The exclusivity period will automatically expire if the Debtorfails to (1) timely file any monthly operating report, or (2) payany fee to the U.S. Trustee when that fee is due.As reported by the Troubled Company Reporter on Dec. 14, 2017, theDebtor asked the Court for an extension of the exclusivity periodto file a Chapter 11 plan through and including April 21, 2018. TheDebtor said that extending the exclusivity period by 120 days isrequired to resolve certain contingencies.A substantial portion of the Debtor's income is earned during theholiday season. The Debtor anticipated it will have a substantialamount of cash available to distribute to unsecured creditorsfollowing the holiday season but cannot accurately predict theamount of cash on hand it will have on hand at this time. Further,the Debtor has substantial claims against various predatory lendersit intends to file shortly. The resolution of these claims willaffect the plan the Debtor will be proposing in this case.The Debtor took out an SBA loan through JPMorgan Chase Bank in May2016 to finance tenant finish out and purchase inventory for theBarton Creek location. The rent at Barton Creek proved to be toohigh for the Debtor to operate profitably and the Debtor beganexperiencing operating losses.Desperate for cash and unable to raise money from traditionalsources, the Debtor entered into a series of short term, usuriousinterest-rate loans with various Merchant Cash Advance lenders. The Debtor was unable to continue to pay the usurious loans andseveral predatory lenders entered confession of judgments theyobtained as security for their loans; and started garnishing theDebtor's bank accounts, leaving the Debtor without cash to fundoperations.Despite these challenges, the Debtor has made significant progresstowards a successful restructuring. Among other things, the Debtorstabilized its business operations and smoothly transition intoChapter 11, obtained important first day relief, negotiated acomprehensive adequate protection package for the use of cashcollateral with its secured creditor, filed schedules andstatements of financial affairs, negotiated a new lease agreementwith the Simon Properties, in which the landlord agreed to waiveits lease rejection claim and reduced the rent from approximately$46,000 per month to approximately $18,000 per month, obtained apost-petition consignment financing agreement allowing it to payoff its SBA loan at an accelerated rate and continue to purchaseinventory from its vendors without incurring additional debt.The Debtor said its business is seasonal, and a large portion ofits sales occur between October and January. It needed time to getthrough the holiday season and to continue to work with itsstakeholders to build support for its plan. The Debtor hasdemonstrated that it can obtain consensus in this case and will bein a better position to propose a plan of reorganization after ithas an opportunity to reduce its inventory and build cash.Additionally, the Debtor needed time to prosecute litigationagainst several predatory lenders on claims including preferentialtransfers, fraudulent transfers, fraud, violation of criminal usurystatutes and breach of contract.The Debtor said sufficient cause exists to extend the exclusivityperiod. The Debtor averred that it has demonstrated good faithprogress towards reorganization during the approximately fivemonths since the case was filed, which warrants an extension of theexclusivity period to 300 days. The Debtor said its progressincludes: (a) Obtaining First Day Relief: The Debtor stabilized itsbusiness operations through various operational first day motionsand orders. This allowed it to, among other things, pay employees,pay critical vendors, maintain insurance programs, and continueusing its cash management system; (b) Achieving a Consensual Cash Collateral Order: The Debtorsuccessfully secured key stakeholder support for an agreed cashcollateral order; (c) Obtaining Post-Petition Consignment Financing: Before acontested evidentiary hearing, the Debtor successfully obtainedpost-petition consignment financing that allowed it to continuepurchasing inventory from vendors critical to its business,accelerate payment of its SBA loan, and generate additional fundsto pay its unsecured creditors through the liquidation of itsinventory; (d) Negotiated Substantial Rent Reduction at Barton Creek: theDebtor successfully negotiated a substantial reduction in the rentpaid on its Barton Creek location, thereby eliminating furtheroperating losses at that location and allowing it to continueoperations and recover its investment in that store; and (e) Negotiating with Stakeholder's regarding the Debtor'sProposed Restructuring: the Debtor continues to negotiate withvarious parties in interest and attempt to obtain support for planof reorganization. About Gatsby's Men WearBee Cave, Texas-based Gatsby's Men Wear, LLC, tailors and sellsmen's wear clothing. The company was formed on March 26, 2013, andoperates two retail stores. It has been operating profitably in TheHill Country Galleria since inception. The Company expanded andopened a second location in Barton Creek Mall in late 2016, and hasbeen struggling financially since then.Gatsby's Men Wear filed a Chapter 11 petition (Bankr. W.D. Tex.Case No. 17-10785) on June 26, 2017. The Company said it is asmall business debtor as defined in 11 U.S.C. Section 101(51D). Atthe time of filing, the Debtor estimated under $50,000 in assetsand $1 million to $10 million in liabilities.The petition was signed by Larry M Claybough, its president. Thecase is assigned to Judge Tony M. Davis. The Debtor is representedby Frederick E. Walker, Esq., at Frederick E. Walker PC.GENON ENERGY: US Bank Objects to 3rd Amended Plan-------------------------------------------------BankruptcyData.com reported that U.S. Bank National Associationfiled with the U.S. Bankruptcy Court an objection to GenOn Energy'sThird Amended Joint Chapter 11 Plan of Reorganization. Theobjection asserts, "By virtue of filing of an amended plan andrelated plan supplement, the Debtors purport to have filed a motionpursuant to Bankruptcy Rule 9019 to approve a so-called 'GenMASettlement.' These documents were filed late in the day on Sunday,December 10, 2017, with the apparent expectation that such motionis to be heard [the next Tuesday]. To suggest that the changesmade to the plan are non-material, which it is not clear theDebtors are even suggesting, would be illogical. A materiallyrevised plan cannot be approved on less than 48 hours' notice.Inherent in the concept of a settlement is the agreement among theparties. The Trustee, a 'GenMa Settlement Party' as defined in theThird Amended Plan, has not agreed to the GenMA Settlement.Accordingly, there is no settlement to approve. The Trustee has atleast two substantive problems with the GenMA Settlement asdescribed on the Term Sheet. First, it characterizes the absenceof a Make-Whole Premium as a concession by the Trustee. Theunderstanding of the Trustee is that the Owner Lessors are going toavail themselves of a provision in the Indentures, Section 2.10,which permits a purchase of the Lessor Notes without a Make-WholePremium if certain conditions are met. The Trustee has noobjection to such a purchase if such conditions are in fact met. Otherwise, pursuant to Section 2.11(d) of the Indentures, anyoptional redemption requires the payment of a Make Whole Premium.The Trustee cannot agree a waiver of the Make-Whole Premium as partof an optional redemption without the consent of Certificateholders. Second, the Trustee will only agree to the GenMASettlement if it is clarified that GenMA's obligation to indemnifythe Indenture Trustees and Pass Through Trustees under Sections10.1 and 16.6 of each of the Participation Agreements survives theconsummation of such settlement." About GenOn EnergyGenOn Energy, Inc., is a wholesale power generation corporationwith 15,394 megawatts in generating capacity, operating operate 32power plants in eight states. GenOn is subsidiary of NRG EnergyInc., which is a competitive power company that produces, sells anddelivers energy and energy services, primarily in major competitivepower markets in the U.S.GenOn is the product of two mergers since 2010. First, on Dec. 3,2010, two wholesale power generation companies -- RRI Energy, acompany formerly known as Reliant Energy, and Mirant Corporation --completed an all-stock, tax-free merger with Mirant becoming RRI'swholly-owned subsidiary. Following the merger, RRI took itscurrent name: GenOn.NRG, through a wholly-owned subsidiary, and GenOn completed astock-for-stock merger in a $6 billion deal, with GenOn continuingas the surviving company on December 14, 2012. NRG, asconsideration for acquiring GenOn's entire equity, issued 0.1216shares of NRG common stock for each outstanding share of GenOn. Instructuring the merger, NRG "ring-fenced" GenOn's debt, leavingGenOn's creditors without recourse against NRG's assets in theevent of GenOn's default.As of March 31, 2017, GenOn Energy had $4.81 billion in totalassets, $4.51 billion in total liabilities and $304 million intotal stockholders' equity.GenOn Energy, Inc. ("GenOn"), GenOn Americas Generation, LLC("GAG") and 60 of their directly and indirectly-owned subsidiariescommenced the Chapter 11 cases in Houston, Texas (Bankr. S.D. Tex.Lead Case No. 17-33695) on June 14, 2017, to implement arestructuring plan negotiated with stakeholders prepetition. TheDebtors' cases have been assigned to Judge David R. Jones.Kirkland & Ellis LLP is the Debtors' bankruptcy counsel. Zack A.Clement, PLLC, is the local counsel. Rothschild Inc. is thefinancial advisor and investment banker. McKinsey Recovery &Transformation Services U.S. is the restructuring advisor. EpiqSystems, Inc., is the claims and noticing agent.Credit Suisse Securities (USA) LLC serves as GenOn Energy'sfinancial advisor and investment banker.Special Counsel to the GAG Steering Committee is Quinn EmanuelUrquhart & Sullivan, LLP. The Steering Committee of GAGNoteholders is comprised of Benefit Street Partners LLC, BrigadeCapital Management, LP, Franklin Mutual Advisers, LLC, and SolusAlternative Asset Management LP, each on behalf of itself orcertain affiliates, and/or accounts managed and/or advised by it orits affiliates.Counsel to the GenOn Steering Committee and the GAG SteeringCommittee are Keith H. Wofford, Esq., Stephen Moeller-Sally, Esq.,and Marc B. Roitman, Esq., at Ropes & Gray LLP.Counsel for NRG Energy, Inc., are C. Luckey McDowell, Esq., and IanE. Roberts, Esq., at Baker Botts L.L.P.GENWORTH LIFE: Fitch Lowers IFS Rating to B+ on Deadline Extension------------------------------------------------------------------Fitch Ratings has downgraded the Insurer Financial Strength (IFS)ratings of Genworth Life Insurance Company (GLIC) and Genworth LifeInsurance Company of New York (GLICNY) to 'B+' (Weak) from 'BB'(Moderately Weak) and removed them from Rating Watch Evolving. TheRating Outlook is Negative. Fitch has maintained the 'BB'(Moderately Weak) IFS ratings of Genworth Life and AnnuityInsurance Company (GLAIC) on Rating Watch Evolving. The rating actions follow a second extension of the closingdeadline of a proposed acquisition of the insurers' parent,Genworth Financial Inc. (GNW), by China Oceanwide Holdings GroupCo. Ltd. The transaction is subject to regulatory approval and wasinitially expected to close by mid-2017. Regulatory reviewcontinues and the close deadline has been extended a second time,to April 2018. Fitch believes the continued delay increases the uncertainty as towhether the proposed transaction will be approved. With lesscertainty that the merger will be completed, the ratings of GLICand GLICNY were downgraded to reflect ongoing concerns regardingthe adequacy of their recorded LTC reserves, which is highlydependent on assumptions regarding future rate increases.GLAIC's rating remains on Rating Watch pending the completion ofthe acquisition by China Oceanwide. The Evolving Watch reflectsuncertainty as to whether the proposed transaction will beapproved.Fitch expects to resolve the Rating Watch status followingregulators' approval or disapproval of the transaction. ChinaOceanwide plans to contribute $600 million to GNW to address the2018 debt maturity at or before the maturity date and $525 millionto Genworth Life. If consummated, Fitch believes that thetransaction addresses near-term concerns regarding upcoming debtmaturities and potential capital impact tied to further long-termcare (LTC) reserve charges. However, underperformance of the LTCbusiness continues to pressure Genworth Life's reserve margins andcapital adequacy.KEY RATING DRIVERSGenworth Life's ratings reflect the company's large exposure in theLTC market, which Fitch views as one of the most risky productssold by U.S. life insurers due to above-average underwriting andpricing risk, high reserve and capital requirements and exposure tolow interest rates. The company's reported statutory capitalizationis strong relative to rating expectations but vulnerable to adverseLTC reserve development. Fitch believes GNW's access to the capital markets for futurefunding needs and overall financial flexibility is limited. Overthe intermediate term, holding company funding needs are highlydependent on existing cash balances, ordinary and special dividendsfrom the mortgage insurance businesses or further asset sales andblock transactions.China Oceanwide is a privately held, family owned internationalfinancial holding company based in Beijing, China, with operationsin financial services, energy, culture, media, and real estate. RATING SENSITIVITIESKey rating sensitivities that could result in a rating downgradeinclude: -- If Fitch believes there is a decline in financial flexibility as the result of a failure to complete the proposed acquisition, GLAIC's rating could be downgraded. -- New information that indicated China Oceanwide's financial or operating profile is not supportive of the current ratings. -- Significant additional charges related to long-term care or run-off business in the near to intermediate term.Key rating sensitivities that could result in a rating upgrade or areturn to Stable Outlook include: -- Successful completion of the proposed acquisition of GNW and capital contribution. -- Successful un-stacking of GLAIC from GLIC ownership.If the proposed acquisition successfully closes, the effect ofChina Oceanwide's ownership on GNW will be an important analyticalconsideration. If Fitch has insufficient information to evaluatethe effect of China Oceanwide's ownership on the rated entities,Fitch may have to withdraw the ratings for lack of information.FULL LIST OF RATING ACTIONSFitch maintains the following rating on Rating Watch Evolving: Genworth Life and Annuity Insurance Company; -- IFS at 'BB'.Fitch downgrades the following ratings with Negative RatingOutlook:Genworth Life Insurance Company; Genworth Life Insurance Company of New York; -- IFS to 'B+' from 'BB'.GLOBAL A&T: Taps Prime Clerk as Administrative Advisor------------------------------------------------------Global A&T Electronics Ltd. seeks approval from the U.S. BankruptcyCourt for the Southern District of New York to hire Prime Clerk asits administrative advisor.The firm will provide bankruptcy administrative services to thecompany and its affiliates, which include assisting them in thesolicitation, balloting and tabulation of votes; preparing anofficial ballot certification; providing a confidential data room;and managing any distribution pursuant to a Chapter 11 plan.The firm's hourly rates are: Analyst $30 - $50 Technology Consultant $35 - $95 Consultant/Sr. Consultant $65 - $165 Director $175 - $195 COO/Executive VP No charge Solicitation Consultant $190 Director of Solicitation $210Shira Weiner, general counsel of Prime Clerk, disclosed in a courtfiling that the firm is a "disinterested person" as defined insection 101(14) of the Bankruptcy Code.Prime Clerk can be reached through: Shira D. Weiner Prime Clerk LLC 830 Third Avenue, 9th Floor New York, NY 10022 Phone: (212) 257-5450 About Global A&T Electronics Ltd.Global A&T Electronics Ltd. is a subsidiary of UTAC Holdings Ltd.that provides semiconductor assembly and test services forintegrated circuits for use in analog, mixed-signal and logic, andmemory products in the United States, Japan, rest of Asia, Europe,and internationally.UTAC Holdings and its subsidiaries are independent providers ofassembly and test services for a broad range of semiconductor chipswith diversified end uses, including in-communications devices(such as smartphones, Bluetooth and WiFi), consumer devices,computing devices, automotive devices, security devices, anddevices for industrial and medical applications. The companyoffers its customers a full range of semiconductor assembly andtest services in these key product categories: analog, mixed-signaland logic, and memory. UTAC's customers are primarily fablesscompanies, integrated device manufacturers and wafer foundries.UTAC is headquartered in Singapore, with production facilitieslocated in Singapore, Thailand, Taiwan, China, Indonesia andMalaysia. The company's global sales network is broadly focused onfive regions: the United States, Europe, China and Taiwan, Japan,and the rest of Asia. The Debtors have 10,402 full-timeemployees.Global A&T and its affiliates sought protection under Chapter 11 ofthe Bankruptcy Code (Bankr. S.D.N.Y. Case Nos. 17-23931 to17-23943) on December 17, 2017. Michael E. Foreman, generalcounsel and authorized officer, signed the petitions.At the time of the filing, the Debtors disclosed that they hadestimated assets of $500 million to $1 billion and liabilities of$1 billion to $10 billion.Judge Robert D. Drain presides over the cases. The Debtors hiredKirkland & Ellis LLP as their bankruptcy counsel; Moelis & CompanyAsia Limited and Moelis & Company LLC as financial advisors;Alvarez & Marsal North America, LLC and Alvarez & Marsal (SE Asia)Pte. Ltd. as restructuring advisors; and Prime Clerk LLC as notice,claims and balloting agent.GLOBAL BROKERAGE: Dec. 21 Meeting Set to Form Creditors' Panel--------------------------------------------------------------William K. Harrington, United States Trustee for Region 2, willhold an organizational meeting on Dec. 21, 2017, at 10:00 a.m. inthe bankruptcy case of Global Brokerage, Inc.The meeting will be held at: United States Bankruptcy Court For the Southern District of New York One Bowling Green, Room 511 New York, NY 10004The sole purpose of the meeting will be to form a committee orcommittees of unsecured creditors in the Debtors' case.The organizational meeting is not the meeting of creditors pursuantto Section 341 of the Bankruptcy Code. A representative of theDebtor, however, may attend the Organizational Meeting, and providebackground information regarding the bankruptcy cases.To increase participation in the Chapter 11 proceeding, Section1102 of the Bankruptcy Code requires that the United States Trusteeappoint a committee of unsecured creditors as soon as practicable. The Committee ordinarily consists of the persons, willing to serve,that hold the seven largest unsecured claims against the debtor ofthe kinds represented on the committee.Section 1103 of the Bankruptcy Code provides that the Committee mayconsult with the debtor, investigate the debtor and its businessoperations and participate in the formulation of a plan ofreorganization. The Committee may also perform other services asare in the interests of the unsecured creditors whom itrepresents. About Global BrokerageNew York-based Global Brokerage, Inc., is a holding company with anindirect effective ownership of FXCM Group, LLC through its equityinterest in Global Brokerage Holdings, LLC. Through FXCM Group,LLC the company provides an online foreign exchange trading andrelated services to more than 178,000 active retail accountsglobally as of Dec. 31, 2016. The company offers its customersaccess to over-the-counter FX markets and has developed aproprietary technology platform that it believes provides itscustomers with an efficient and cost-effective way to trade FX. Thecompany also offers its non-U.S. customers the ability to tradecontracts-for-difference.Global Brokerage filed a voluntary Chapter 11 petition (Bankr.S.D.N.Y. 17-13532) with a prepackaged reorganization plan on Dec.11, 2017. The Debtor disclosed total assets of $78.78 million andtotal liabilities of $172.55 million as of Oct. 31, 2017. The caseis pending before the Honorable Michael E. Wiles.Global Brokerage's legal advisors are King & Spalding LLP, and itsfinancial advisors are Perella Weinberg Partners LP. The claimsagent, Prime Clerk, maintains the Web sitehttps://cases.primeclerk.com/globalbrokerage.GO WIRELESS: S&P Affirms 'B' Corp Credit Rating, Outlook Stable---------------------------------------------------------------S&P Global Ratings affirmed its 'B' corporate credit rating on LasVegas-based Verizon authorized retailer Go Wireless Holdings Inc.The outlook is stable.S&P said, "At the same time, we raised our issue-level rating on GoWireless' proposed $300 million (downsized from $400 million)first-lien term loan due 2024. We also revised the recovery ratingto '2' from '3'. The '2' recovery rating indicates our expectationfor substantial (70%-90%; rounded estimate: 70%) recovery in theevent of a payment default. The company's capital structure willalso include a $50 million asset-based lending (ABL) revolverfacility due 2022, which we do not rate."The ratings on Go Wireless reflect its decent market position asVerizon's third-largest independent retailer based on store countand somewhat non-discretionary nature of demand for mobile phones.These factors are offset by the company's complete dependence onVerizon as the sole broadband provider that narrows its serviceofferings, susceptibility of revenues and cash flows to productcycles, potential changes to commissions received from Verizon, andexecution risks associated with the company's aggressive growthstrategy. Over the next 12 months, S&P expects adjusted debt toEBITDA to approach mid- to high-4.0x, mainly on EBITDAcontributions from acquisitions.S&P said, "The stable outlook reflects our expectation thatadjusted debt to EBITDA will approach the mid- to high-4.0x areaand fixed-charge coverage of just below 2.0x over the next yeargiven our expectation for EBITDA base expansion upon storeacquisitions and modest improvement in margins."We could lower the rating if we expect adjusted debt to EBITDA tobe sustained above 6.0x and fixed-charge coverage ratio of 1.5x orless. Potential scenarios include the company's inability toeffectively execute on its growth strategy and expand its EBITDAbase or deterioration of operating performance, possibly because ofunfavorable commission arrangements or heightened competition."We could raise the rating if we expect the company to sustainadjusted debt to EBITDA of less than 4.5x and fixed-charge coverageratio of 2.2x or better. This could be the case if the company isable to materially grow its EBITDA base while modestly improvingits margins on meaningful traction in its operating initiatives."GRAFTECH INTERNATIONAL: Moody's Ups CFR to B2; Outlook Positive---------------------------------------------------------------Moody's Investors Service upgraded all ratings for GrafTechInternational Ltd., including the Corporate Family Rating ("CFR")to B2 from Caa1 and the senior unsecured rating to B3 from Caa2, toconclude the review initiated on October 19, 2017. Moody's alsoupgraded the Speculative Grade Liquidity Rating ("SGL") to SGL-2from SGL-3. The rating outlook is positive."GrafTech's financial performance and credit metrics willstrengthen considerably on significantly higher averaged realizedprices for graphite electrodes in 2018," said Ben Nelson, Moody'sVice President -- Senior Credit Officer and lead analyst forGrafTech International Ltd.Issuer: GrafTech International Ltd.Upgrades: -- Probability of Default Rating, Upgraded to B2-PD from Caa1-PD -- Speculative Grade Liquidity Rating, Upgraded to SGL-2 from SGL-3 -- Corporate Family Rating, Upgraded to B2 from Caa1 -- Senior Secured Bank Credit Facility, Upgraded to Ba2 (LGD2) from B2 (LGD2) -- Senior Unsecured Regular Bond/Debenture, Upgraded to B3 (LGD5) from Caa2 (LGD5)Outlook Actions: -- Outlook, Changed To Positive From Rating Under ReviewRATINGS RATIONALEMoody's expects a significant improvement in GrafTech's financialperformance over the next few quarters, leading to a substantialincrease in free cash flow generation and credit metricsapproaching investment-grade levels in 2018. A combination ofimproved demand from steelmakers, reduction of electrode capacityin China for environmental reasons, and constrained needle cokesupply from major producers has resulted in a surge in pricing. Theconfluence of events follows significant capacity reduction bymajor producers, including GrafTech, during the weak market periodover the past few years. Under the ownership of Brookfield AssetManagement, GrafTech positioned its balance sheet for the recenttough market environment and adopted a very focused long-termstrategy built around the company's strong and improved costposition relative to competitors in the core graphite electrodeindustry. Moody's expects that significantly higher averagedrealized prices for graphite electrodes, combined with GrafTech'simproved cost position, will result in an enormous increase inprofitability and cash flow generation in 2018.The magnitude of improvement remains uncertain pending GrafTech'sdecisions regarding customer contracts for 2018 and beyond.GrafTech's management has not issued guidance for the upcomingyear, but industry participants have made it clear that graphiteelectrode prices have already experienced a meaningful increase in2017 and could experience further increases in 2018. Additionally,Brookfield Asset Management Inc, which controls GrafTech through anon-recourse subsidiary, commented during its Investor Day onSeptember 27, 2017 that it expects averaged realized prices of$7,500 per ton in the first quarter of 2018 -- a mix of oldercontracts and newer contracts, with new contracts well above thatlevel. GrafTech has restructured substantially under Brookfield'sownership and believes that an improvement in averaged realizedprices by $500 per ton translates into an improvement of EBITDA by$75 million. GrafTech anticipates EBITDA well above $300 million in2018, which would translate to adjusted financial leverage below 2times (Debt/EBITDA), compared to more than 16 times for the twelvemonths ended June 30, 2017, and significant free cash flowgeneration, compared to cash consumption and erosion of liquiditysince 2015.The rating is tempered by industry-level concerns, such as thesustainability of the increase in graphite electrode prices;company-level operating concerns, such as the nature of customercontracts; and company-level financial policy concerns, such as thecompany's plans for its capital structure and the willingness ofthe majority owners to take dividends or recapitalize during theupcycle in the electrode industry. The expected improvement infinancial performance likely will create a credit profile capableof supporting financing with customary terms, rather than therestrictive terms in the current credit agreement, and give thecompany an opportunity to refinance its entire capital structure ifit chooses to do so. The $300 million 6.375% Senior Notes due 2020became callable at 101.594% as of November 15, 2017. Moody'sexpects that Brookfield will also have an opportunity to monetizeits equity in GrafTech in 2018 or 2019..Moody's also upgraded the speculative grade liquidity rating toSGL-2 from SGL-3 based on expectations for positive free cash flowand ample headroom under financial maintenance covenants. GrafTechreported $16 million of cash and $153 million of availability underits $225 million revolving credit facility after considering aminimum liquidity requirement, cash borrowings, and letters ofcredit at September 30, 2017 The expected improvement in EBITDAwill create significant headroom under the financial maintenancecovenants in the credit agreement, including a minimum EBITDAthreshold that steps up over the next few years. The speculativegrade liquidity rating could be upgraded further in the near-termwith a significant build-up in balance sheet cash or amendment ofcredit facilities to more customary terms and conditions.The positive outlook incorporates expectations for significantimprovement in financial performance and signals that the ratingcould be upgraded again the near-term. Moody's could furtherupgrade the rating once the company and its sponsor provideclarification regarding GrafTech's financial policies, includingthe appropriate amount of balance sheet debt, future dividendpolicy, and increased clarity on the company's ability to benefitfrom the current high prices over a longer horizon. Moody's coulddowngrade the rating with expectations for adjusted financialleverage above 6.0x (Debt/EBITDA), sustained negative free cashflow, or substantive deterioration in liquidity.The principal methodology used in these ratings was Global ChemicalIndustry Rating Methodology published in December 2013.GRAND VIEW FINANCIAL: Needs More Time To Exclusively File Plan--------------------------------------------------------------Grand View Financial, LLC, asks the U.S. Bankruptcy Court for theCentral District of California to extend the exclusivity periodsfor the Debtor to file a Chapter 11 plan and obtain acceptancethereof for 120 days from Dec. 15, 2017, and Feb. 13, 2018,respectively, to April 16 and June 13, 2018, respectively.Pursuant to Sections 1121(b) and (c) of the U.S. Bankruptcy Code, aChapter 11 debtor has the exclusive right to file a plan ofreorganization for a period of 120 days following the filing of thepetition and an additional 60 days thereafter to obtain acceptancesto any plan so filed.The Debtor's case is relatively large based on the approximately 42properties in which the Debtor has an interest with a fair marketvalue of approximately $29 million, the millions of dollars ofalleged secured claims purportedly secured by the Propertiespursuant to the alleged secured liens, and the unsecured notestotaling approximately $14 million.The Debtor's case is also relatively complex considering thenumerous avoidance actions and claim objections the Debtor willhave to assert and which the Debtor has already started to assert,as well as the numerous Properties located in various states thatthe Debtor will have to sell.Moreover, the initiation of the Debtor's Chapter 11 case wasaccompanied by substantial administrative, procedural, andsubstantive requirements that the Debtor had to deal with,including Chapter 11 compliance, meetings with the Office of theU.S. Trustee, substantive motions, and employment applications.The Debtor says that any plan would have to be funded from the saleof Properties in which the Debtor has an interest. However, inmost instances, the Debtor needs to eliminate Alleged SecuredClaims purportedly secured by the subject Property pursuant torelated Alleged Secured Liens before the Debtor can proceed tosale. The Debtor has initiated and will continue to initiateAvoidance Actions and Claim Objections to clear Alleged SecuredClaims and Alleged Secured Liens. The Debtor states that it makessense to allow the Debtor to proceed with its Avoidance Actions andClaim Objections, to ascertain the success of the Avoidance Actionsand Claim Objections and, thus, the funds that may be realized fromthe sale of Properties to fund a plan.The Debtor believes that it has satisfied all post-petitionobligations to its creditors (other than on Alleged Secured Claims,which the Debtor disputes) and paid all U.S. Trustee quarterlyfees.The Debtor assures the Court that it has properly administered itsChapter 11 case in that the Debtor has complied with all of thematerial requirements of the Bankruptcy Code, the Bankruptcy Rules,and the U.S. Trustee. Under these circumstances, an extension ofthe exclusivity periods for filing and obtaining confirmation of aplan can be granted with the confidence that the Debtor is in fullcompliance with the requirements that are a condition to the Debtormaintaining its exclusive right to file a plans and gain acceptancethereof. About Grand View Financial, LLCGrand View Financial LLC is a Wyoming limited liability company,which is in the business of acquiring distressed real property. Grand View Financial was formed in 2015.The Debtor sought protection under Chapter 11 of the BankruptcyCode (Bankr. C.D. Calif. Case No. 17-20125) on Aug. 17, 2017. Steve Rogers, its managing member, signed the petition. Levene,Neale, Bender, Yoo & Brill LLP serves as the Debtor's legalcounsel.At the time of the filing, the Debtor disclosed $29.88 million inassets and $39.71 million in liabilities.Judge Julia W. Brand presides over the case.GULF COAST: Case Summary & 17 Largest Unsecured Creditors---------------------------------------------------------Debtor: Gulf Coast Maritime Supply, Inc. 5922 Harvey Wilson Drive Houston, TX 77020 Tel: (713) 672-9308Type of Business: Gulf Coast Maritime Supply, Inc. is a corporation in Houston, Texas, that acquires untaxed alcohol and tobacco products and sells them to commercial vessels for consumption while at sea. The company has held alcohol and tobacco permits since 1973.Chapter 11 Petition Date: December 20, 2017Case No.: 17-60217Court: United States Bankruptcy Court Southern District of Texas (Victoria)Judge: Hon. David R JonesDebtor's Counsel: Genevieve Marie Graham, Esq. OKIN ADAMS LLP 1113 Vine St, Suite 201 Houston, TX 77002 Tel: 713-228-4100 E-mail: email@example.com - and - Ryan Anthony O'Connor, Esq. OKIN ADAMS LLP 1113 Vine St, Ste 201 Houston, TX 77002 Tel: 713-228-4100 E-mail: firstname.lastname@example.com - and - Matthew Scott Okin, Esq. OKIN ADAMS LLP 1113 Vine Street, Suite 201 Houston, TX 77002 Tel: 713-228-4100 Fax: 888-865-2118 E-mail: email@example.com Assets: $1 million to $10 millionEstimated Liabilities: $1 million to $10 millionThe petition was signed by Jay Goldstein, general manager.A copy of the Debtor's list of 17 largest unsecured creditors isavailable for free at: http://bankrupt.com/misc/txsb17-60217_creditors.pdfA full-text copy of the petition is available for free at: http://bankrupt.com/misc/txsb17-60217.pdfHERALD MEDIA: Dec. 21 Meeting Set to Form Creditors' Panel----------------------------------------------------------William K. Harrington, United States Trustee for Region 3, willhold an organizational meeting on Dec. 21, 2017, at 10:00 a.m. inthe bankruptcy case of Herald Media Holdings, Inc.The meeting will be held at: The Doubletree Hotel 700 King Street Wilmington, DE 19801The sole purpose of the meeting will be to form a committee orcommittees of unsecured creditors in the Debtors' case.The organizational meeting is not the meeting of creditors pursuantto Section 341 of the Bankruptcy Code. A representative of theDebtor, however, may attend the Organizational Meeting, and providebackground information regarding the bankruptcy cases.To increase participation in the Chapter 11 proceeding, Section1102 of the Bankruptcy Code requires that the United States Trusteeappoint a committee of unsecured creditors as soon as practicable. The Committee ordinarily consists of the persons, willing to serve,that hold the seven largest unsecured claims against the debtor ofthe kinds represented on the committee.Section 1103 of the Bankruptcy Code provides that the Committee mayconsult with the debtor, investigate the debtor and its businessoperations and participate in the formulation of a plan ofreorganization. The Committee may also perform other services asare in the interests of the unsecured creditors whom itrepresents. About Boston HeraldHeadquartered in Boston, Massachusetts, Boston Herald, Inc., HeraldInteractive Inc., Herald Media, Inc. and Herald Media Holdings,Inc., collectively operate privately owned information andentertainment businesses consisting of the flagship newspaper, TheBoston Herald, as well as a related website, internet radiostation, and mobile applications.Herald Media Holdings, Inc., and three affiliates filed for Chapter11 bankruptcy protection (Bankr. D. Del. Lead Case No. 17-12881) onDec. 8, 2017.Herald Media reported total assets of $6.02 million and totalliabilities of $31 million as of the bankruptcy filing.The Hon. Laurie Selber Silverstein is the case judge.Morris, Nichols, Arsht & Tunnell LLP, is serving as lead counsel tothe Debtors. Epiq Bankruptcy Solutions, LLC, is the claims andnoticing agent.HKD TREATMENT: Melville Buying 2012 Ford Fusion for $6.5K---------------------------------------------------------HKD Treatment Options, P.C., filed with the U.S. Bankruptcy Courtfor the District of Massachusetts a notice of its private sale ofits right, title and interest in 2012 Ford Fusion, VIN3FAHPOJA3CR227828, to Christopher Melville for $6,500, subject tohigher offers.The Buyer is a former employee of the Debtor who left its employSept. 30, 2015.The Sale will take place within seven days after the entry of anOrder granting the Debtor's Motion for Order Authorizing andApproving Private Sale of Property of the Estate filedcontemporaneously with the Notice. The proposed Buyer has paid thesum of $6,500. The terms of the proposed sale are moreparticularly described in the Motion to Approve Sale filed with theCourt on Dec. 13, 2017. The Motion to Approve Sale is availableupon request from the Debtor's counsel.The Property will be sold free and clear of all liens, claims andencumbrances. Any perfected, enforceable valid liens will attachto the proceeds of the sale according to priorities establishedunder applicable law.Objections, if any, must be filed by Jan. 18, 2018 at 5:00 p.m. Through the Notice, higher offers for the Property are solicited. Any higher offer must be accompanied by a cash deposit in theamount equal to 5% of the offer and in the form of a certified orbank check made payable to the undersigned.A hearing on the Motion to Approve Sale, objections, or higheroffers is set for Jan. 23, 2018 at 12:30 p.m. The deposit will be forfeited to the estate if the successfulpurchaser fails to complete the sale by the date ordered by theCourt, unless an extension has been granted. If the sale is notcompleted by the Buyer approved by the Court, the Court, withoutfurther hearing, may approve the sale of the Property to the nexthighest bidder. About HKD Treatment OptionsBased in Lowell, Massachusetts, HKD Treatment Options, P.C. --http://www.hkdtreatmentoptions.com/-- provides behavioral health counseling and treatment plans to help patients recover fromalcohol and drug addiction.HKD Treatment Options filed a Chapter 11 petition (Bankr. D. Mass.Case No. 17-41895) on Oct. 20, 2017. Hung K. Do, president anddirector, signed the petition.The Debtor estimated less than $50,000 in assets and $1 million to$10 million in liabilities.Judge Elizabeth D. Katz presides over the case. The Debtor hired Richard A. Mestone, Esq., at Mestone & AssociatesLLC as its bankruptcy counsel; Good Schneider & Fried as itsspecial counsel; and Dennis and Associates as its accountant.HOME CAPITAL: DBRS Hikes LongTerm Ratings to B(low)---------------------------------------------------DBRS Limited upgraded the long-term ratings of Home Capital GroupInc. (HCG or the Group) to B (low) from CCC and confirmed itsshort-term ratings at R-5. Additionally, DBRS upgraded the ratingsof Home Trust Company (HTC or the Trust Company), HCG's primaryoperating subsidiary. The trends on all ratings are now Stable.DBRS also upgraded HTC's Intrinsic Assessment to BB (low) from B.The Support Assessment for HTC remains SA3, which implies noexpected systemic support for the Trust Company.As a result of these actions, the ratings of the Group, as well asHTC have been removed from Under Review with Positive Implications,where they were placed on August 9, 2017.The rating actions reflect DBRS's view that the Group is now in asteady position with the hiring of a full complement of seniorexecutives who were able to restore market confidence and set cleargoals for HCG's future. In addition, deposit and liquidity levelshave stabilized. Furthermore, the repayment of funds drawn underthe credit facility provided by a subsidiary of Berkshire HathawayInc. (Berkshire) and funding costs that are more contained versusthe previous quarter have allowed the Group to revert toprofitability. Lastly, mortgage renewals have regained momentumwhile asset quality remains strong.Over the last four months, the Group has made good progress inhiring a strong management team and filling key positions. TheBoard of Directors and new CEO have developed a near-term strategicplan aimed at returning the business to a growth trajectory andregaining lost market share by introducing competitive products,improving the level of service to all stakeholders and mostimportantly, repairing relationships with the mortgage brokercommunity. The completion of Project EXPO in October 2017 and therevision of procedures and policies aimed at improving service tomortgage brokers while adhering to risk parameters should helpbolster originations going forward. While DBRS views the near-termstrategic plan as sensible, DBRS sees returning the Group'soriginations and market share to historical levels in the currentmarket environment as a longer-term process. Indeed, originationstotalled $385 million in Q3 2017, down 66% from the linked quarter,while loans under administration decreased by 10% to $23.2billion.Importantly for the ratings, the deposit base has stabilized withHCG reporting net inflows in Q3 2017, with deposits increasing by2%. Positively, the Group has gradually reduced deposit rates to bemore in line with market averages after having to significantlyincrease rates in order to attract deposits following the Group'sliquidity crisis in April 2017. DBRS sees the ability to returndeposit rates to those consistent with the market as demonstratingthat a level of investor confidence has been restored.Nevertheless, HCG's current funding costs are still elevated versushistorical levels compressing the Group's net interest margin. DBRSwill look for HCG to improve its funding costs, bringing them inline with peers, as at current levels deposit rates pose a drag onthe operating profitability of the Group and could inhibit HCG'sability to continue to operate an originate-and-hold businessmodel.Positively, the Group's aggregate liquidity position has improvedto $2.7 billion on September 30, 2017, from $1.7 billion as of June30, 2017, the equivalent of 14% of HCG's Q3 2017 balance sheet. Inaddition, with the repayment of the amounts drawn under theemergency liquidity line and the Berkshire credit facility in Q22017, HCG was able to reduce its costs and report net income of $30million for Q3 2017, versus the $111 million net loss reported inthe previous quarter. Nevertheless, DBRS expects profitability tocontinue to be constrained until HCG is able to reduce it fundingcosts to peer levels.Asset quality continues to be good with impaired loans at 0.32% ofgross loans as of September 30, 2017. As with other financialinstitutions active in residential mortgage lending, HCG continuesto assess the potential impact the Office of the Superintendent ofFinancial Institutions' new B-20 guidelines (effective January 1,2018) will have on originations. On the one hand, the potentiallymore stringent stress tests could price some of HCG's client baseout of the market; however, HCG's management expects that it mightgain borrowers who may no longer qualify for mortgages at thelarger banks. While DBRS recognizes that such a shift in customermix may improve the credit profile of HCG's residential mortgageportfolio; DBRS is also cognizant that operational risks in termsof implementing revised processes and executing on improving brokerservice pose a larger challenge for HCG in the short term.HCG's Common Equity Tier 1 ratio rose to 21.25% during the quarteras risk-weighted assets were reduced with the completion ofpreviously announced asset sales. Despite the return toprofitability in Q3 2017, no dividends were declared by the Groupas earnings retention remains key to restoring HCG's growth.The Grid Summary Scores for HTC are as follows:Franchise Strength - Weak; Earnings Power - Moderate/Weak; Risk Profile - Moderate; Funding & Liquidity - Weak; Capitalization - Moderate/WeakRATING DRIVERSRegaining market share by improving originations while sustainingan appropriate level of profitability and maintaining sound assetquality could lead to positive rating actions. Moreover, furtherbuild-up of the deposit base through stable direct channels,decreasing dependence on brokered deposits and a lowering offunding costs in line with peer levels would be viewed positively.Conversely, the ratings could come under pressure if HCG is unableto improve service levels in order to repair and solidifyrelationships with mortgage brokers. Furthermore, a change in theasset mix that would lead the Group to underwrite a materiallylarger proportion of commercial loans in turn shifting its focusfrom its core franchise of underwriting residential mortgages, orsignificant losses in the loan book that would arise fromunforeseen weakness in underwriting and/or risk managementprocesses could also lead to negative rating actions.The ratings issued are:Home Trust Company Short Term Instruments Upgraded to R-4 Long Term Senior Debt Upgraded to BB(low) Long Term Issuer Rating Upgraded to BB(low) Long Term Deposits Upgraded to BB(low) Short Term Issuer Rating Upgraded to R-4Home Capital Group Inc Long Term Senior Debt Upgraded to B(low) Short Term Instruments Confirmed at R-5 Short Term Issuer Rating Confirmed at R-5 Long Term Issuer Rating Upgraded to B(Low) IMPERIAL CAPITAL: Court Confirms Reorganization Plan----------------------------------------------------Judge Shelley C. Chapman of the U.S. Bankruptcy Court for theSouthern District of New York has approved the disclosure statementand confirmed the amended plan of reorganization filed by ImperialCapital, LLC on October 19, 2017.A full-text copy of Judge Chapman's order dated November 29, 2017is available at: http://bankrupt.com/misc/nysb14-10236-309.pdf About Imperial Capital LLCImperial Capital LLC is a real estate holding company that acquiredproperties in Florida and New York. The Debtor sought protection under Chapter 11 of the BankruptcyCode (Bankr. S.D.N.Y. Case No. 14-10236) on January 31, 2014. MelCooper, member, signed the petition. At the time of the filing, the Debtor disclosed that it hadestimated assets and liabilities of $1 million to $10 million. Judge Shelley C. Chapman presides over the case. William H.Salgado, Esq., served as the Debtor's bankruptcy counsel.Salvatore LaMonica was appointed Chapter 11 trustee for theDebtor.The trustee hired LaMonica Herbst & Maniscalco, LLP. INMOBILIARIA LEGUISAMO: Enters into Stipulation with Triangle REO-----------------------------------------------------------------Inmobiliaria Leguisamo Inc. filed an amended plan of reorganizationwith the U.S. Bankruptcy Court for the District of Puerto Rico.The debtor's liability for dministrative expenses, estimated in theamount of $8,000.00, will be paid in full on or before theeffective date, unless agreed to a less favorable treatment betweenthe Debtor and the holder of the claim.The debtor scheduled total priority claim of creditor CRIM in theamount of $ 487.25, will be paid pro-rata no later than five yearsfrom the filing of the petition.The secured claim of the Department of Treasury in the amount of$998.57 will be paid in full no later than 60 months from theconfirmation of the plan.The debtor has reached a stipulation agreement with Triangle REO PRCorp. regarding the treatment of the latter's claim, subject to thefollowing terms and conditions: 1. Property located at Lot A State Road Rd PR-352 km 4.5 Leguisamo Ward Mayaguez, Puerto Rico. (a) Establish a payment plan for 24 months with a monthly payment of $1,500.00 and a final payoff of $180,000.00. 2. Property located at Lot B State Rd PR-352 KM 4.5 Leguisamo Ward Mayaguez, Puerto Rico. (a) Establish a payment plan for 24 months with a monthly payment of $300.00 and a final payoff of $40,000.00. 3. Since Triangle final, unappealabe foreclosure judgment, a default clause must be included to the effect that any default with the Stipulation shall result in the immediate surrender of the collaterals and/or consent to immediate relief from stay and/or discharge injunction without a hearing. 4. If the debtor obtains additional financing in excess of the aforemention payments, such surplus will be forwarded to Triangle REO PR Corp. 5. The Debtor shall cure delinquent property taxes over Triangle's collateral. The unsecured portion of Triangle REO PR Corp's claim in the amountof $2,151,806.92 will receive no distribution as per liquidationvalue is zero. The secured portion of CRIM's claim in the amount of $6,406.80,will be paid pro rata during the life of the plan.The unsecured portion of CRIM's claim, filed on 06/20/2016, in theamount of $465.41 will be paid pro-rata payment monthly during thelife of the plan for five years. The debtor will be able to execute the plan through the income tobe derived by the daily operation of the business and sale ofproperty.A full-text copy of Inmobliaria Leguisamo's amended plan isavailable at: http://bankrupt.com/misc/prb16-00123-212.pdf About Inmobiliaria LeguisamoInmobiliaria Leguisamo Inc. owns a commercial building in Mayaguez,Puerto Rico.The Debtor sought protection under Chapter 11 of the BankruptcyCode (Bankr. D.P.R. Case No. 16-00123) on Jan. 13, 2016. The Debtoris represented by Nydia Gonzalez Ortiz, Esq., at Santiago &Gonzalez Law, LLC. IRONCLAD PERFORMANCE: Files Joint Plan of Liquidation-----------------------------------------------------BankruptcyData.com reported that Ironclad Performance Wear and itsofficial committee of equity security holders (OECH) filed with theU.S. Bankruptcy Court a Joint Plan of Liquidation (initial draft). According to the Plan, "The Debtors and the OCEH (collectively, the'Plan Proponents') believe that the Draft Plan represents theoptimal outcome for these chapter 11 bankruptcy cases. A trust(the 'Trust') is being established under the Plan. On theEffective Date, the Debtors and the trustee of the Trust (the'Trustee') will enter into a related trust agreement (the 'TrustAgreement') for the benefit of the Shareholders. The Trustee will,among other things, investigate and pursue certain claims andcauses of action that belong to the Estates and are assigned to theTrust for the benefit of the Shareholders. The Plan Proponentsbelieve that Shareholders are not impaired under the Plan. ThePlan Proponents believe that no purpose would be served by having adisclosure statement and disclosure statement hearing because novoting on the Plan is required. The Plan Proponents are thereforerequesting the Court to permit the Plan Proponents to skip thedisclosure statement stage and proceed directly with a Planconfirmation hearing. That would save the Estates a significantamount of money and time. The Plan Proponents are requesting theCourt to schedule a Plan confirmation hearing at the very end ofJanuary 2018 or early February 2018, depending upon the Court'scalendar. The Plan Proponents would like to have until December31, 2017 to finalize the Draft Plan (and fill in the blanks) andthe Trust Agreement and to effectuate service of a comprehensivenotice of Plan confirmation upon all creditors and Shareholders(which service will include a copy of the actual finalized Planitself, along with the finalized Trust Agreement, if the Court sorequires)." About Ironclad Performance WearIronclad Performance Wear Corporation designs and manufacturesbranded performance work wear for a variety of construction,do-it-yourself, industrial, sporting goods and general servicesmarkets. Since inception, the company has leveraged itsproprietary technologies to design task-specific technical glovesand performance apparel designed to improve the wearer's ability toperform specific job functions.Ironclad's gloves are available through industrial suppliers,hardware stores, home centers, lumber yards, and sporting goodsretailers nationwide; and through authorized distributors in NorthAmerica, Europe, Australia, Middle East, Asia and South America.Ironclad Performance Wear Corp, a California corporation andIronclad Performance Wear Corp, a Nevada corporation soughtprotection under Chapter 11 of the Bankruptcy Code (Bankr. C.D.Cal. Case Nos. 17-12408 and 17-12409) on Sept. 8, 2017. GeoffreyL. Greulich, chief executive officer, signed the petitions. Thecases are jointly administered and are assigned to Judge Martin R.Barash.Ironclad California estimated assets of $10 million to $50 millionand liabilities of $1 million to $10 million. In its schedules,Ironclad Nevada disclosed $16.6 million in assets and $8.05 millionin debt.Levene, Neale, Bender, Yoo & Brill L.L.P serves as counsel to theDebtor. Craig-Hallum Capital Group LLC is the Debtor's financialadvisor.On Sept. 22, 2017, the U.S. Trustee appointed an official committeeof unsecured creditors in the Debtors' cases. The committee hiredBrown Rudnick LLP as its legal counsel; and Province Inc. asfinancial advisor.An Official Committee of Equity Security Holders also has beenestablished in the case. The equity panel retained Dentons US LLPas counsel.On Nov. 14, 2017, the Debtors entered into an Asset PurchaseAgreement with Brighton-Best International, Inc. (BBI) pursuant towhich BBI purchased from the Debtors substantially all of theirassets for (1) an aggregate amount of $25,250,000 and (2) theassumption of certain of the Debtors' liabilities.Pursuant to the sale, the Debtors were required to file allnecessary documents to amend their name to not include "Ironclad"or any derivative thereof or other similar name. The Debtors mayhowever may identify themselves using the words "formerly known asIronclad Performance Wear Corporation" or "FKA Ironclad PerformanceWear Corporation" solely in the body of Bankruptcy Court pleadingsand in a footnote on the caption page of Bankruptcy Courtpleadings. The Debtors complied. Accordingly, on November 17,2017, the Financial Industry Regulatory Authority (FINRA) notifiedthat the name change of Ironclad Performance to ICPW LiquidationCorporation will be effective in the market as of November 20,2017.JACK ROSS: Court Confirms 2nd Amended Plan------------------------------------------Judge Bruce T. Beesley of the U.S. Bankruptcy Court for theDistrict of Nevada approved the second amended disclosure statementand confirmed the second amended plan of reorganization filed byJack Ross Industries, LLC on Septemebr 12, 2017.The plan was confirmed subject to the following amendments: A. The personal liability of Chris Parker under all obligations to his ex-wife Jamie Parker pursuant to their divorce decree and related documents shall not be altered in any way by confirmation of the plan. B. All post-petition taxes owed to the Nevada Department of Taxation shall be current as of the effective date (January 1, 2018). C. In the event all taxes to the Nevada Department of Taxation are not paid within the statutory 5-year deadline, such taxes shall not be discharged, nor shall any statutory liability of responsible individuals be terminated, and the debtor shall continue making the payments set forth in the plan until such debt is paid in full with interest as specified in the plan. D. Chris Parker shall not receive a monthly salary until after the payments under the plan are made. E. All monthly operating reports shall be current and all fees to the Office of the United States Trustee shall be current as of the effective date.A full-text copy of Judge Beesley's order dated November 29, 2017is available at: http://bankrupt.com/misc/nvb16-51053-177.pdf About Jack Ross IndustriesJack Ross Industries, LLC, based in Reno, Nevada, operates anindoor gun shooting range. The Debtor also sells ammunition andother supplies related to gun maintenance. The Debtor filed a Chapter 11 petition (Bankr. D. Nev. Case No.16-51053) on Aug. 24, 2016. The petition was signed by ChristopherParker, managing member. The Debtor is represented by Alan R.Smith, Esq., at the Law Offices of Alan R. Smith. The case isassigned to Judge Bruce T. Beesley. The Debtor disclosed $168,100in assets and $1.06 million in liabilities. No official committee of unsecured creditors has been appointed inthe case.On April 3, 2017, the Debtor filed a disclosure statement, whichexplains its proposed Chapter 11 plan of reorganization. JERRY BATTEH: $85K Sale of Jacksonville Property to Niermann Okayed-------------------------------------------------------------------Judge Jerry A. Funk of the U.S. Bankruptcy Court for the MiddleDistrict of Florida authorized Jerry Batteh's sale of his rentalproperty located at 2229 Fordham Circle North, Jacksonville,Florida, more particularly described as Lot 10, Block 5, Lakewood,Unit No. 7, to Dawn Niermann for $85,000.The Debtor will obtain an updated payoff prior to the closing ofthe sale. The Creditor will receive the full amount of its payoff,as set forth. If the Debtor disputes the payoff amount, the Courtretains jurisdiction to determine the amount of the payoff for thismortgage.The Debtor will file a copy of the closing statement evidencing thesale within 10 days of the date of the sale, and will include alldisbursements at closing on his quarterly operating report for thisperiod of time.Jerry Batteh sought Chapter 11 protection (Bankr. M.D. Fla. CaseNo. 11-05260) on July 18, 2011. The Debtor's Chapter 11 Plan wasconfirmed by order dated March 26, 2014.KINDRED HEALTHCARE: Moody's Puts B2 CFR Under Review----------------------------------------------------Moody's Investors Service placed the ratings of Kindred Healthcare,Inc. (Kindred), under review -- direction uncertain. This followsthe announcement that Kindred has entered into an agreement to beacquired by Humana Inc., (A3 stable insurance financial strengthrating) and private equity firms TPG Capital (TPG) and WelshCarson, Anderson & Stowe (WCAS). This will be a transaction valuedat $4.1 billion, including the assumption or repayment of netdebt.Kindred's home health, hospice and community care businesses willbe separated into a new company which will be 60% owned by TPG andWCAS and 40% owned by Humana. Humana will have the right to buy themajority ownership interest over time through a put/call agreement.Kindred's long-term acute care hospitals, inpatient rehabilitationfacilities and contract rehabilitation service businesses will forma new specialty hospital company that will be owned fully by TPG &WCAS.The rating review will focus on the credit profile and finalcapital structure post-closing as well as the strategic planfollowing the separation of existing businesses into two separateprivate entities. If Kindred's debt is repaid and cancelled,Moody's will withdraw the ratings at that time. The transaction isexpected to close in the second half of 2018.Ratings on review -- direction uncertain:Corporate Family Rating at B2;Probability of Default Rating at B2-PD;Senior secured term loan at Ba3 (LGD 2);Senior unsecured notes at B3 (LGD 5).Rating affirmed:Speculative Grade Liquidity rating at SGL-2.RATINGS RATIONALENotwithstanding announcement, Kindred's B2 Corporate Family Rating(currently on review) is constrained by its high financialleverage, which Moody's expects to remain around 6.0x (defined asdebt/EBITDA less minority interest expense) over the next 12months. Kindred also has a high reliance on the Medicare program asa source of revenue, exposing it to risks associated with changinggovernment reimbursement for post-acute care services. The creditprofile is supported by Kindred's large scale and position as oneof the largest post-acute care service providers by revenue andsites of service. Kindred will continue to have good diversity byservice line with a significant presence across many segments ofthe post-acute care continuum.The Speculative Grade Liquidity Rating of SGL-2 reflects Moody'sexpectation that Kindred will maintain good liquidity over the next12-18 months. This will be supported by free cash flow of around$150 million and substantial cash balances, which Moody'santicipates will exceed $250 million by the end of 2017. Moody'santicipates availability of over $500 million on Kindred'sasset-based lending facility over the next 12 months. Further,Moody's anticipates adequate cushion under the financialmaintenance covenants.Based in Louisville, Kentucky, Kindred Healthcare, Inc. is aleading operator of long-term acute care hospitals and inpatientrehabilitation facilities. It is also one of the largest providersof home healthcare and hospice services as well as contractrehabilitation services to third party facility operators in theUS. The company has nearly exited the skilled nursing facilitybusiness. Following the completion of the exit of this business,annual revenues will approximate $6 billion.KINDRED HEALTHCARE: S&P Places 'B+' CCR on Watch Developing-----------------------------------------------------------S&P Global Ratings placed all of its ratings, including the 'B+'corporate credit rating, on Louisville, Ky.-based KindredHealthcare Inc. on CreditWatch with developing implications.The CreditWatch placement follows Kindred Healthcare's announcementthat it has signed a definitive agreement under which it will beacquired by a consortium of three companies: TPG Capital (TPG);Welsh, Carson, Anderson & Stowe (WCAS); and Humana Inc.S&P said, "We expect to resolve the CreditWatch placement when thetransaction closes, and may update the CreditWatch when we havemore clarity on the organizational and capital structure under thenew ownership. Given the material change in the corporate structureand the uncertainty relating to the redemption of the outstandingdebt, we could affirm, lower, or raise the ratings. If the existingdebt is fully extinguished, we expect to withdraw the issue-levelratings at the current level upon the consummation of thetransaction. If the new owners will assume some of the debt, wewill reassess the ratings according to the future capital structureand incorporating the level of implied support from Humana, ifany."With respect to Kindred at Home, we could potentially assign ahigher rating than the existing 'B+' corporate rating on Kindred,while we could potentially assign a lower rating to the specialtyhospital company, if its capital structure is highly leveraged."LA CONTENTA: Voluntary Chapter 11 Case Summary----------------------------------------------Debtor: La Contenta Investors, a California limited partnership 9880 Orr Road Galt, CA 95632Type of Business: Founded in 1987, La Contenta Investors is in the public golf courses industry. Its principal assets are located at 1653 S. Highway 26 Valley Springs, CA 95252.Chapter 11 Petition Date: December 20, 2017Case No.: 17-28224Court: United States Bankruptcy Court Eastern District of California (Sacramento)Judge: Hon. Robert S. BardwilDebtor's Counsel: David C. Johnston, Esq. DAVID C. JOHNSTON 1600 G Street, Suite 102 Modesto, CA 95354 Tel: 209-579-1150Estimated Assets: $1 million to $10 millionEstimated Liabilities: $1 million to $10 millionThe petition was signed by Ryan C. Voorhees, managing member of OldMother Lode, LLC, general partner.The Debtor did not file a list of 20 largest unsecured creditorstogether with the petition.A full-text copy of the petition is available for free at: http://bankrupt.com/misc/caeb17-28224.pdfLAKESHORE PROPERTIES: Taps RealtyMasters as Real Estate Broker--------------------------------------------------------------Lakeshore Properties of South Florida, LLC seeks approval from theU.S. Bankruptcy Court for the Southern District of Florida to hirea real estate broker.The Debtor proposes to employ RealtyMasters Commercial Corp. inconnection with the sale of its approximately 2,223 acres offarmland in Okeechobee County, Florida.The firm will receive a 4% commission if the property is sold witha cooperating broker and 3% if sold without a cooperating broker.Michael Christopher, a real estate broker employed withRealtyMasters, disclosed in a court filing that the firm is a"disinterested person" as defined in section 101(14) of theBankruptcy Code.The firm can be reached through: Michael Christopher RealtyMasters Commercial Corp. 1015 North Powerline Road Ft. Lauderdale, FL 33311 Phone: (954) 727-9000 About Lakeshore PropertiesFormed in 2002, Lakeshore Properties of South Florida, is a FloridaLimited Liability Company engaged in activities related to realestate. Its principal assets are located in Okeechobee County,Florida.The Debtor filed for Chapter 11 bankruptcy protection (Bankr. S.D.Fla. Case No. 17-21866) on Sept. 28, 2017, estimating its assetsand liabilities a estimating its assets at up to $50,000 and itsliabilities at $10 million and $50 million.Judge Robert A. Mark presides over the case.Nicholas B. Bangos, Esq., at Nicholas B. Bangos, P.A., serves asthe Debtor's bankruptcy counsel.The petition was signed by Manuel C. Diaz, its managing member.LAS FLORES: Taps Dibble & Miller as Legal Counsel-------------------------------------------------Las Flores, Inc. seeks approval from the U.S. Bankruptcy Court forthe Western District of New York to hire Dibble & Miller, P.C. asits legal counsel.The firm will advise the Debtor regarding its duties under theBankruptcy Code; review and help resolve claims against its estate;assist in the preparation of a plan of reorganization; and provideother legal services related to its Chapter 11 case.The firm charges an hourly fee of $300 for the services of itsattorneys and $180 for paralegal services.Kristen Flores-Fratto, a principal of the Debtor, paid Dibble &Miller a pre-bankruptcy retainer in the sum of $5,000, and will paythe firm an additional $20,000 as a post-petition retainer.Mikal Krueger, Esq., disclosed in a court filing that the firm doesnot have a potential or actual conflict with the Debtor.Dibble & Miller can be reached through: Mikal J. Krueger, Esq. Dibble & Miller, P.C. 55 Canterbury Road Rochester, NY 14607 Phone: (585) 271-1500 About Las Flores Inc. Las Flores, Inc., which conducts business under the name TheGatehouse Cafe, is a restaurant located within Village Gate in theCity of Rochester. Las Flores sought protection under Chapter 11 of the BankruptcyCode (Bankr. W.D.N.Y. Case No. 17-21302) on December 7, 2017. Atthe time of the filing, the Debtor disclosed that it had estimatedassets of less than $50,000 and liabilities of $500,000.LONESTAR RESOURCES: Moody's Assigns Caa2 Rating to New Sr. Notes----------------------------------------------------------------Moody's Investors Service assigned a Caa2 rating to LonestarResources America Inc.'s (Lonestar) new senior unsecured notes. Thecompany's Caa1 Corporate Family Rating (CFR), Caa1-PD Probabilityof Default Rating (PDR), SGL-3 Speculative Grade Liquidity (SGL)rating and stable outlook are unchanged. The net proceeds from thenew notes will be used to repay the notes due 2019 and partiallyrepay revolver borrowings. The ratings on the notes due 2019 willbe withdrawn after the notes are repaid."The issuance of the new notes will improve the company's liquidityby extending the maturity of its long-term debt and increasing theavailable borrowing capacity under the revolving credit facility,"stated James Wilkins, Moody's Senior Analyst.The following summarizes the ratings activity:Ratings assignedIssuer: Lonestar Resources America Inc. -- Senior Unsecured Regular Bond/Debentures, assigned Caa2 (LGD 5)RATING RATIONALELonestar's senior notes are rated Caa2, one notch below the Caa1CFR, consistent with Moody's Loss Given Default Methodology. Thisreflects the unsecured nature of the notes and the first lienrevolving credit facility's more senior priority claims to thecompany's assets.Lonestar's Caa1 CFR reflects the company's modest scale, elevatedleverage and expectations that the company will grow production andimprove its credit metrics as it returns to higher capital spendingto develop its reserves. The company had retained cash flow to debtof 11% and debt to average daily production of $38,000 as ofSeptember 30, 2017. Moody's expect that Lonestar's leverage metricswill improve as its profits grow in line with the increase in oil &gas production. The company expects its leverage ratio will be inthe mid 2x range by year-end 2018, based on capital spending of $95- $100 million in 2018. The company benefits from its oil-weightedproduction and reserve profile (69% of Q3 2017 production and 60%of year-end 2016 proved reserves) and hedge position. The companyhas hedges on 70% of its expected 2018 oil production (at$51.79/bbl) and 52% of expected 2019 oil production (at$48.90/bbl). Lonestar's Caa1 is constrained by the company'ssmall-scale operations (average daily production of 7.7 mboe/d inQ3 2017), large percentage of undeveloped acreage that will requiresignificant capital spending to develop and limited operatinghistory. The company's scale still remains small compared to peersand the single basin (Eagle Ford) focus also constrains itsrating.The SGL-3 Speculative Grade Liquidity Rating reflects Moody'sexpectations that Lonestar will have adequate liquidity through2018 supported by its modest cash balance ($5 million as ofSeptember 30, 2017), cash flow from operations and revolving creditfacility. The revolving credit facility borrowing base was $160million as of September 30, 2017, and it will mature on July 28,2020, once the notes due 2019 are repaid. The company would havehad $91 million of available revolver borrowing capacity as ofSeptember 30, 2017, on a pro forma basis after adjusting for theissuance of the new notes and the effect of the automatic reductionin the borrowing base by $25 million. Moody's expects that Lonestarwill remain reliant on its revolving credit facility. The revolvingcredit facility has two financial covenants -- a maximum leveragecovenant (4.0x) and a minimum current ratio of 1x. Moody's expectsthat Lonestar will comply with its financial covenants through2018, but with a modest cushion.The stable outlook reflects Moody's expectation that the company'sleverage metrics will improve through 2018 as the company growsproduction. An upgrade could be considered if the company'sproduction exceeds 15,000 boe per day on a sustained basis whilemaintaining retained cash flow to debt above 15%. The ratings couldbe downgraded if Lonestar's RCF to debt declines to below 5% on asustained basis or if the company's liquidity positiondeteriorates.The principal methodology used in this rating was IndependentExploration and Production Industry published in May 2017. Lonestar Resources America, Inc., a wholly-owned subsidiary ofLonestar Resources US Inc. (NASDAQ: LONE) headquartered in FortWorth, Texas, is an independent exploration and production companywith operations focused on the Eagle Ford Shale.LUNDIN MINING: Moody's Hikes CFR to Ba2 on Debt Reduction---------------------------------------------------------Moody's Investors Service upgraded Lundin Mining Corporation'sCorporate Family (CFR) rating to Ba2 from Ba3, Probability ofDefault Rating to Ba2-PD from Ba3-PD and senior secured noteratings to Ba2 from Ba3. This concludes the review for upgradeinitiated on October 20, 2017. At the same time, Lundin'sSpeculative Grade Liquidity Rating (SGL) was affirmed at SGL-1. Theratings outlook is stable."Lundin's rating was upgraded because debt has been reduced by overhalf, adjusted debt/EBITDA will be about 0.6x and cash will exceeddebt by nearly three times.", said Jamie Koutsoukis, Moody's SeniorAnalyst.Lundin redeemed its $550 million of 7.50% senior secured notes due2020 on November 20, 2017, leaving it with remaining adjusted debtof $470 million and cash of $1.5 billion.Issuer: Lundin Mining CorporationUpgrades: -- Probability of Default Rating, Upgraded to Ba2-PD from Ba3-PD -- Corporate Family Rating, Upgraded to Ba2 from Ba3 -- Senior Secured Regular Bond/Debenture, Upgraded to Ba2 (LGD4) from Ba3 (LGD4)Affirmations:Issuer: Lundin Mining Corporation -- Speculative Grade Liquidity Rating, Affirmed SGL-1Outlook Actions:Issuer: Lundin Mining Corporation -- Outlook, Changed To Stable From Rating Under ReviewRATINGS RATIONALELundin's Ba2 CFR is driven by its moderate scale, a concentrationof cash flows at its two largest mines, recent operating challengesat Candelaria, low leverage, excellent liquidity and lowgeopolitical risk. Lundin's 80%-owned Candelaria mine in Chile hasaccounted for over 60% of operating earnings for the first ninemonths of 2017, exposing the company to potential materialreductions in cash flow should the mine encounter operationalissues. This risk has been highlighted by the announcement thatproduction at Candelaria will be about 20% lower in 2018, comparedto previous guidance, under a revised life-of-mine plan whichincorporates new phase designs, production sequences, mine and millinvestment initiatives, as well as addresses a recent rock slide.These revisions are expected to increase costs at the mine andreduce the company's earnings in 2018 relative to 2017. Thoughcredit negative, the company's credit metrics will remain strongwith leverage of 0.6x expected at the end of 2018.Lundin's liquidity is excellent (SGL-1), consisting of about US$1.5billion of cash (proforma the November debt repayment) and fullavailability under its US$350 million revolving credit facility(matures June 2020). Lundin is expected to consume about $300million of free cash flow in 2018 because of a large capital spendplanned in 2018 ($850 million) which includes amounts for itsannounced 10-year development plan at Candelaria ($1.3-billion from2018 through 2021). However this can be fully funded by availablecash. The company will maintain good headroom to bank maintenancecovenants and has no debt maturities until 2022 ($450 million).The stable ratings outlook reflects Moody's expectation that Lundinwill maintain its conservative financial policies and leverage willnot exceed 1.5x. It also assumes any project development spendingwill be funded with its sizeable cash balance.Lundin's CFR could be upgraded if the company is able to reduce itsmine concentration risk, particularly its reliance on Candelaria,generate positive free cash flow and maintain adjusted debt/EBITDAbelow 1.5x (1.1x at Q3/17)Lundin's rating could be downgraded if the company experiencesfurther operating challenges at Candelaria that result inproduction not improving in 2019 and beyond, or costs do not fall$1.50/lb in 2019. The rating could also be downgraded if adjustedleverage is sustained above 2x (1.1x at Q3/17).Headquartered in Toronto, Ontario, Lundin wholly-owns anunderground copper/ zinc mine in Portugal (Neves-Corvo), anunderground zinc/ lead mine in Sweden (Zinkgruvan), and anunderground nickel/ copper mine in Michigan (Eagle). It also owns80% of the Candelaria copper mine in Chile. Lundin's revenues were$1.5 billion in 2016.M & G USA: Committee Taps Gattai Minoli as Italian Counsel----------------------------------------------------------The official committee of unsecured creditors of M&G USA Corp.seeks approval from the U.S. Bankruptcy Court for the District ofDelaware to hire Gattai, Minoli, Agostinelli, Partners as itsspecial counsel.The firm will represent the committee in the Italian proceedingsinvolving M&G and the other companies of the Mossi & Ghisolfi groupbased in Italy.The firm's hourly rates range from $600 to $860 for partners, $460to $580 for counsel, $200 to $480 for associates, and $100 to $150for legal assistants.Gaetano Carrello, Esq., disclosed in a court filing that the firmdoes not represent and will not represent any entity other than thecommittee in matters related to M&G's Chapter 11 case or theItalian proceedings.In accordance with Appendix B-Guidelines for reviewing feeapplications filed by attorneys in larger Chapter 11 cases, Mr.Carrello disclosed that his firm has not agreed to any variationsfrom, or alternatives to, its standard or customary billingarrangements for its employment with the committee; and that noprofessional at the firm has varied his rate based on thegeographic location of the case.Mr. Carrello further disclosed that Gattai has not represented thecommittee prior to the petition date, and that the firm is in theprocess of developing a prospective budget and staffing plan forthe committee's review and approval.The firm can be reached through: Gaetano Carrello, Esq. Gattai, Minoli, Agostinelli, Partners Via Manzoni, 30 - 20121 Milano Tel: +39 02.30323232 Fax: +39 02.30323242 Email: firstname.lastname@example.com Email: firstname.lastname@example.com Email: email@example.com Email: firstname.lastname@example.com About M & G USA CorporationM & G USA Corporation and affiliates sought Chapter 11 protection(Bankr. D. Del. Lead Case No. 17-12307) on October 30, 2017. Thepetition was signed by Dennis Stogsdill, their chief restructuringofficer.Judge Brendan L. Shannon presides over the cases.Jones Day represents the Debtors as their bankruptcy counsel. TheDebtors hired Pachulski Stang Ziehl & Jones LLP as conflictscounsel and co-counsel; Crain Caton & James, P.C. as specialcounsel; Alvarez & Marsal North America, LLC as restructuringadvisor; Rothschild Inc. and Rothschild S.p.A. as financialadvisors and investment bankers; and Prime Clerk LLC asadministrative advisor.At the time of filing, the Debtors estimate $1 billion to $10billion both in assets and liabilities.Founded in 1953, M&G Group is a privately owned chemical company inItaly and is controlled through the holding company M&G FinanziariaS.p.A. The M&G Group -- specifically, its chemicals division, whichincludes the Debtors -- is a producer of polyethylene terephthalateresin for packaging applications.On November 13, 2017, the Office of the U.S. Trustee appointed anofficial committee of unsecured creditors. The Committee hiresMilbank, Tweed, Hadley & McCloy LLP as its legal counsel; ColeSchotz, as Delaware co-counsel; Berkeley Research Group, LLC asfinancial advisor; and Jefferies LLC, as investment banker.MARCANTONIO ENTERPRISES: Seeks January 15 Plan Filing Extension---------------------------------------------------------------Marcantonio Enterprises, LLC, requests the U.S. Bankruptcy Courtfor the Western District of Texas to extend for approximately 30days the exclusivity deadlines for filing and obtaining acceptancesof a Plan, until January 15, 2018 and February 14, 2018,respectively.The Debtor has requested no prior extensions of the exclusivitydeadlines. Absent the requested extension, the Debtors' initialExclusive Filing Period was slated to expire December 18 and theExclusive Solicitation Period is slated to expire February 14,2018.The Debtor claims that it is solvent and will be able to propose aplan of reorganization that pays 100% of all allowedadministrative, priority, secured and general unsecured claims inthis case. The Debtor asserts that it has reasonable prospects forfiling a viable plan, as the total assets of the Debtor exceed itstotal liabilities (included the disputed debt and debt owed toinsiders) by more than $2,000,000.The Debtor relates that its case was originally filed as a smallbusiness case as the Debtor's aggregate non-contingent liquidateddebts (excluding debts owed to insiders or affiliates) are lessthan $2,566,050. However, it was brought to the attention ofDebtor's counsel that the provisions of 11 U.S.C. Section 101(51D)exclude debtors "whose primary business activities involve thebusiness of owning or operating real property or activities relatedthereto." Therefore, the Debtor filed an Amended Voluntary Petitionremoving the small business designation on September 28, 2017.The Debtor claims that in the last 45 days, its counsel has had toattend to a number of deadlines and hearings associated with fivepending Chapter 11 cases, including two cases set for confirmationhearings and two recent filings before the Court concerning verylarge single-asset commercial real estate cases. In addition,counsel had a lengthy and complex appellate brief due in U.S.District Court on December 11, 2017, on a case with an 8,000-pagerecord from a 7-day trial. Therefore, the Debtor contends that itscounsel was not able to complete a plan and disclosure statementfor the Debtor in this case. About Marcantonio Enterprises LLCBased in New Braunfels, Texas, Marcantonio Enterprises, LLC, is asmall business debtor as defined in 11 U.S.C. Sec. 101(51D). Marcantonio is a single member limited liability corporation basedin New Braunfels, Texas, which is involved in the real estatebusiness. The Company, through its sole member, acquirescommercial real estate to improve and rent to commercial tenants orto sell.Marcantonio Enterprises sought protection under Chapter 11 of theBankruptcy Code (Bankr. W.D. Tex. Case No. 17-51968) on Aug. 18,2017. Ralph M. Marcantonio, its member, signed the petition.At the time of the filing, the Debtor estimated assets andliabilities of $1 million to $10 million.Judge Craig A. Gargotta presides over the case.H. Anthony Hervol, Esq., at the Law Office of H. Anthony Hervol,serves as the Debtor's bankruptcy counsel.MAUI MAX: Taps Cain & Herren as Legal Counsel---------------------------------------------Maui Max LLC seeks approval from the U.S. Bankruptcy Court for theDistrict of Hawaii to hire Cain & Herren, ALC as its legalcounsel.The firm will advise the Debtor regarding its duties under theBankruptcy Code; assist in the preparation of a plan ofreorganization; and provide other legal services related to itsChapter 11 case.Michael Collins, Esq., the attorney who will be handling the case,will charge $275 per hour. His firm received $2,500 for thepreparation and filing of the Debtor's bankruptcy case.Mr. Collins disclosed in a court filing that his firm does not holdor represent any interest adverse to the Debtor's estate.The firm can be reached through: Michael J. Collins, Esq. David W. Cain, Esq. Cain & Herren, ALC 2141 West Vineyard Street Wailuku, HI 96793 Tel: (808) 242-9350 Fax: (808) 242-6139 Email: email@example.com Email: firstname.lastname@example.com About Maui Max LLCMaui Max LLC sought protection under Chapter 11 of the BankruptcyCode (Bankr. D. Hawaii Case No. 17-01284) on December 12, 2017. Judge Robert J. Faris presides over the case. At the time of thefiling, the Debtor disclosed that it had estimated assets of lessthan $1 million and liabilities of less than $500,000.MCDERMOTT INT'L: Moody's Puts B1 CFR on Review for Upgrade----------------------------------------------------------Moody's Investors Service placed McDermott International, Inc.'s B1Corporate Family rating (CFR), B1-PD Probability of Default Rating,and B2 senior secured note rating under review for upgrade. TheSpeculative Grade Liquidity rating was changed to SGL-2 from SGL-3to reflect the establishment of a revolving borrowing sublimit whenthe company amended its credit agreement in June 2017.On Review for Upgrade:Issuer: McDermott International, Inc. -- Corporate Family Rating, Placed on Review for Upgrade, currently B1; -- Probability of Default Rating, Placed on Review for Upgrade, currently B1-PD; -- $500 million senior secured 2nd lien notes, Placed on Review for Upgrade, currently B2(LGD4)Outlook Actions: -- Outlook, Changed To Rating Under Review From PositiveUpgrade: -- Speculative Grade Liquidity Rating, Changed to SGL-2 From SGL- 3RATINGS RATIONALEThe review is prompted by the agreement between McDermott and CB&I(unrated) to combine in an all-stock transaction. The transactionhas been approved by the Boards of both companies and is expectedto be completed in the second quarter of 2018. It remains subjectto regulatory antitrust approvals, approval by McDermott's andCB&I's shareholders and other customary closing conditions. Uponcompletion of the transaction, McDermott shareholders will ownapproximately 53% of the combined company and CB&I shareholderswill own approximately 47%. The estimated enterprise value of thetransaction is approximately $6 billion based on the closing shareprice of McDermott on December 15, 2017. The review of McDermottfor upgrade reflects the anticipated improvements to the creditprofile of the company after the transaction with CB&I. While thepro forma consolidated debt levels will be substantially higherthan McDermott's current level, the combined entity will benefitfrom significantly greater scale, broader geographic, end marketand customer diversity and expanded technical capabilities.McDermott's credit metrics had become very strong for its B1 ratingdue to its recent positive operating performance and the pro formametrics of the combined companies will be strong for the rating aswell. The company's rating had been constrained by its softeningbacklog of orders and its reliance on Saudi Aramco for the majorityof its revenues and order backlog. However, the company wasrecently awarded several sizeable projects that helped to fill its2018 revenue pipeline and the potential combination with CB&I willresult in a company with significantly greater scale, broaderdiversity and expanded technical capabilities. The combined companywill have revenues of about $10 billion and a backlog of about$14.5 billion versus $3 billion in revenues and a backlog of only$2.4 billion at McDermott as of September 2017. In addition, thecompanies anticipate potential cost synergies of about $250million.The companies announced their intention to establish a $1.8 billionterm loan and a $1.5 billion bridge loan when the merger iscomplete. This compares to only about $500 million of outstandingdebt at McDermott as of September 2017. Moody's estimates thecombined leverage ratio (debt/EBITDA) will rise to slightly above3.0x from 1.7x on a standalone basis and the interest coverageratio (EBITA/Interest Expense) will decline to around 3.0x from3.4x. These metrics will be somewhat strong for the B1 rating. The review will consider the consummation of the transaction ascurrently proposed and the combined entity's capital structure andits credit metrics, in particular its leverage, interest coverageand free cash flow as a percentage of its outstanding debt.Furthermore, the review will evaluate the expected synergies of$250 million, and the business and financial strategies of thecombined entities.McDermott's SGL-2 speculative grade liquidity rating reflects theexpectation it will maintain a good liquidity profile. The companyhad an unrestricted cash balance of $416 million as of September2017 and full availability on the $300 million revolving borrowingsublimit that was established when it amended its credit agreementin June 2017.The amendment increased its letter of credit capacity by $360million to $810 million, established a $300 million revolving cashsublimit and extended the maturity date to June 2022 from April2019 provided McDermott's existing $500 million senior securednotes due April 2021 are repaid by December 2020. If the notes arenot repaid by that date, then the maturity date will be December2020.McDermott International, Inc. (McDermott) is a full-serviceintegrated engineering and construction company that providesengineering, procurement, construction and installation (EPCI) andmodule fabrication services exclusively to the upstream offshoreoil & gas sector. McDermott provides both shallow water and deepwater construction services and delivers and installs fixed andfloating production facilities, pipeline installations and subseasystems. Its customers include national, major integrated and otheroil and gas companies. During the twelve months ended September 30,2017 the company reported revenues of approximately $2.9 billionwith about 66% generated in The Middle East (MEA), 27% in Asia(ASA), and 7% in the Americas, Europe and Africa (AEA).MEHRI AKHLAGHPOUR: U.S. Trustee Appoints 3-Member Committee-----------------------------------------------------------The U.S. Trustee appointed three members to the official committeeof unsecured creditors to the Chapter 11 case of MehriAkhlaghpour.The Committee members are: (1) Mehrdad Vafi Representative: Farrah Mirabel 145 N. Almoni Dr., #309 West Hollywood, CA 90048 Tel: (714) 972-0707 Fax: (949) 417-1796 E-mail: firstname.lastname@example.com (2) T.J. Metal Manufacturing, Inc. Representative: Bartolo Carrillo, Jr. 11500 W. Olympic Blvd., Ste 400 Los Angeles, CA 90064 Tel: (310) 724-5667 Fax: (213) 382-1354 E-mail: email@example.com (3) XIFIN, Inc. Representative: Tammy Lawrence 12225 El Camino Real San Diego, CA 92130 Tel: (858) 436-2902 Fax: (858) 793-5701 E-mail: firstname.lastname@example.com Akhlaghpour filed a Chapter 11 Petition (Bankr. C.D. Cal.,Case No. 17-12739) on October 11, 2017, and is represented byGiovanni Orantes, Esq.MIDWEST ASPHALT: Sale of All Assets to Callidus for $13.5M Approved-------------------------------------------------------------------Judge William J. Fisher of the U.S. Bankruptcy Court for theDistrict of Minnesota authorized Midwest Asphalt Corp. andaffiliates to sell all their assets, including but not limited toall their real and personal property of any kind, Callidus CapitalCorp. or its assignee or designee, including MWA Acquisition, IILLC, for $13,500,000 by credit bid.The sale hearing was held on Dec. 15, 2017.The sale is free and clear of all liens, claims, and encumbrances.No brokers were involved in consummating the sale or thetransactions, and no brokers' commissions are due to any "person"in connection with the sale or the transactions.Notwithstanding the provisions of Federal Rules of BankruptcyProcedure 6004(h) and 6006(d) and Federal Rule of Civil Procedure62(a), the Order will not be stayed, but will be effective andenforceable immediately upon entry. About Midwest AsphaltMidwest Asphalt Corporation is a construction company, primarily inthe business of constructing and paving roads. Midwest Asphalt hasbeen in business since 1968. The Company currently employsapproximately 150 people. The seasonal work begins to grow inApril, reaches its peak in June and July, and is completed inNovember each year. Midwest Asphalt, based in Hopkins, Minnesota, filed a Chapter 11petition (Bankr. D. Minn. Case No. 17-40075) on Jan. 12, 2017. Blair Bury, president, signed the petition. The case is jointlyadministered with the case of MAR Farms, LLC (Bankr. D. Minn. CaseNo. 17-41371) and Delta Milling, LLC (Bankr. D. Minn. Case No.17-41372).The Debtor estimated assets and debt at $10 million to $50 millionat the time of the filing.The case is assigned to Judge Katherine A. Constantine. The Debtor is represented by Thomas Flynn, Esq., at LarkinHoffman.Daniel M. McDermott, the U.S. Trustee for Region 12, on Feb. 2,2017, appointed two creditors of Midwest Asphalt to serve on theofficial committee of unsecured creditors. The committee membersare: (1) WD Larson/Allstate Peterbilt; and (2) Tiller Corporation. The U.S. Trustee, on March 16, 2017, added LSREF2 Cobalt LLC to theCommittee. The Committee retained Matthew R. Burton, Esq., at Leonard,O'Brien, Spencer Gale & Sayre, Ltd., as legal counsel.MIKE FARRELL'S: Jan. 22 Plan Confirmation Hearing-------------------------------------------------Judge Mark A. Randon of the U.S. Bankruptcy Court for the EasternDistrict of Michigan has approved the corrected second amendeddisclosure statement filed by Mike Farrell's Detroit Wrecker Sales,LLC, on November 28, 2017.January 12, 2018 was fixed as the last day for filing writtenacceptances or rejections of the Plan.Hearing on the confirmation of the Plan was set to January 22, 2018at 11:00 a.m.Written objections to confirmation of the Plan shall be filed nolater than January 12, 2018. About Mike Farrell's Detroit Wrecker SalesMike Farrell's Detroit Wrecker Sales, LLC, designs, manufacturesand sells and services towing equipment nationally. Mike Farrell'sfiled a Chapter 11 petition (Bankr. E.D. Mich. Case No. 17-53308)on Sept. 22, 2017. Jeffrey J. Sattler, Esq., and Kim K. Hillary,Esq., at Schafer & Weiner PLLC, serve as the Debtor's bankruptcycounsel.MNM HOLDINGS: U.S. Trustee Unable to Appoint Committee------------------------------------------------------The U.S. Trustee was unable to appoint an official committee ofunsecured creditors in the Chapter 11 case of MNM Holdings LLC,according to the statement filed with the U.S. Bankruptcy Court forthe Northern District of West Virginia. About MNM Holdings and D&M InvestmentsBased in Morgantown, West Virginia, MNM Holdings LLC, is a smallbusiness debtor as defined in 11 U.S.C. Section 101(51D). Thecompany is in the real estate leasing business. D&M Investments,Inc., operates public hotels and motels.MNM Holdings LLC (Bankr. N.D. W.Va., Case No. 17-01104) and D&MInvestments, Inc. (Bankr. N.D. W. Va., Case No. 17-01105) filed aChapter 11 Petition on November 3, 2017. The case is assigned toHon. Patrick M. Flatley.The Debtors are represented by Salene Rae Mazur Kraemer, Esq.,Mazurkraemer Business Law, in Canonsburg, Pennsylvania.At the time of filing, MNM Holdings LLC, disclosed $1 million-$10million in both assets and liabilities. D&M Investments alsodisclosed $1 million-$10 million in both assets and liabilities.The petitions were signed by Alan B. Mollohan, managing member.MONADNOCK BREWING: Shareholder Seeks to Terminate Exclusivity-------------------------------------------------------------Trevor Bonnette, a 50% shareholder and one of the two directors ofMonadnock Brewing Company, Inc., asks the U.S. Bankruptcy Court forthe District of New Hampshire to terminate the exclusivity periodbecause there is a deadlock on the board, the Debtor cannoteffectively reorganize, and Bonnette wishes to file a plan ofreorganization for the Debtor.Bonnette believes there is cause to terminate the exclusivityperiod since: (1) the board is deadlocked and cannot act; (2) theCourt would have to choose which 50% owner gets to be the Debtorand is protected by exclusivity, an impossible task; (3) Bonnettehas his own 100% plan, which he is prepared to file if givenpermission by the Court either as the Debtor or an interestedparty; and (4) terminating exclusivity levels the playing fieldbetween the two factions of the Debtor allowing the case to moveforward.Bonnette has filed a Motion for Appointment of a Chapter 11Trustee, arguing that he was frozen out of voting to put the Debtorin bankruptcy and he has been frozen out of management since thebankruptcy has been filed. Bonnette says he has a 50% vote in theDebtor, and has not authorized any action on behalf of the Debtor,which needs majority vote. The board members are opposed to eachother and will never agree on the disposition of the Debtor.Bonnette asserts that the Debtor is a startup business that hasnever operated. Bonnette has put substantial sums into the businessand maintains that Mary and Jerry L. Henry, the other shareholders,have improperly taken money out of the Debtor.Rather than seek to dismiss this unauthorized bankruptcy, Bonnetteseeks to file a reorganization plan that subordinates his claimagainst the Debtor and pays all of the general unsecured creditorsin full in cash upon the effective date of the plan. ArguablyBonnette can try to do this as the Debtor, since he owns 50% of thecompany. However, in order for this to occur, the Court would haveto displace management that filed this bankruptcy case, or moreaccurately choose between management as to who is the Debtor.Bonnette claims that this circumstance creates problems since bothmanagement factions need a majority to act, and neither has amajority.Keene, New Hampshire-based Monadnock Brewing Company, Inc. --https://www.monadnockbrewing.com/ -- filed for Chapter 11bankruptcy protection (Bankr. D. N.H. Case No. 17-11697) Dec. 7,2017, listing under $1 million in both assets and liabilities. Peter N. Tamposi, Esq., at The Tamposi Law Group, serves as counselto the Debtor.NAVILLUS TILE: Seeks to Hire Teneo & Appoint CRO------------------------------------------------Navillus Tile, Inc. seeks approval from the U.S. Bankruptcy Courtfor the Southern District of New York to hire Teneo Capital, LLCand designate Christopher Wu as its chief restructuring officer.Mr. Wu, senior managing director of Teneo, and his firm will assistthe Debtor in restructuring its debt; review the Debtor's financialcondition and business plan; assist in formulating and negotiatingthe terms of a restructuring, plan of reorganization orrecapitalization transaction; provide communications support to theDebtor's strategic objectives; and provide other services relatedto its Chapter 11 case.Teneo will receive a monthly fee of $70,000, and a retainer in thesum of $70,000.Mr. Wu disclosed in a court filing that his firm does not hold orrepresent any interest adverse to the Debtor's estate.The firm can be reached through: Christopher K. Wu Teneo Capital, LLC 280 Park Avenue, 4th Floor New York, NY 10017 Tel: +1 (212) 886 1600 Fax: +1 (212) 886 9399 Email: firstname.lastname@example.com About Navillus TileNavillus Tile Inc., is one of the largest subcontractors andgeneral contractors in New York, specializing as a high-endconcrete and masonry subcontractor on large private and publicconstruction projects in the New York metropolitan area. Navillusworks closely with many of New York's most prominent architects,builders, owners, government agencies and institutions and ispre-qualified by numerous commercial and government agencies.Navillus operates its business from a midtown Manhattanheadquarters which it has leased since 2015.Donal O'Sullivan, which founded the business with his brothers, isthe sole director, president and chief executive officer ofNavillus.Navillus Tile filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y. CaseNo. 17-13162) on Nov. 8, 2017, estimating $100 million to $500million in assets and debt. Judge Sean H. Lane is the case judge. Cullen and Dykman LLP is theDebtor's legal counsel.On November 28, 2017, the U.S. Trustee for Region 2 appointed anofficial committee of unsecured creditors.NAVILLUS TILE: Taps Garden City Group as Administrative Advisor---------------------------------------------------------------Navillus Tile, Inc. seeks approval from the U.S. Bankruptcy Courtfor the Southern District of New York to hire Garden City Group,LLC as its administrative advisor.The firm will provide bankruptcy administrative services, whichinclude managing the solicitation and tabulation of votes inconnection with any Chapter 11 plan filed by the Debtor; assistingwith claims reconciliation; managing the publication of legalnotices; and overseeing any distributions made pursuant to theplan.The firm's hourly rates are: Administrative, Mailroom & Claims Control $45 - $55 Project Administrators $70 - $85 Project Supervisors $95 - $110 Graphic Support & Technology Staff $100 - $200 Project Managers/Senior Project Managers $125 - $175 Directors/Asst. Vice-Presidents $200 - $295 Vice-Presidents and above $295Craig Johnson, assistant vice-president for operations of GardenCity Group, disclosed in a court filing that his firm is a"disinterested person" as defined in section 101(14) of theBankruptcy Code.Garden City Group can be reached through: Craig E. Johnson Garden City Group, LLC 1985 Marcus Ave. Lake Success, NY 11042 Garden City Group, LLC Phone: (800) 327-3664/631-470-1866 Email: email@example.com Email: firstname.lastname@example.com About Navillus TileNavillus Tile Inc., is one of the largest subcontractors andgeneral contractors in New York, specializing as a high-endconcrete and masonry subcontractor on large private and publicconstruction projects in the New York metropolitan area. Navillusworks closely with many of New York's most prominent architects,builders, owners, government agencies and institutions and ispre-qualified by numerous commercial and government agencies.Navillus operates its business from a midtown Manhattanheadquarters which it has leased since 2015.Donal O'Sullivan, which founded the business with his brothers, isthe sole director, president and chief executive officer ofNavillus.Navillus Tile filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y. CaseNo. 17-13162) on Nov. 8, 2017, estimating $100 million to $500million in assets and debt.Judge Sean H. Lane is the case judge. Cullen and Dykman LLP is theDebtor's legal counsel.On November 28, 2017, the U.S. Trustee for Region 2 appointed anofficial committee of unsecured creditors.NCI BUILDING: Moody's Hikes Corporate Family Rating to Ba3----------------------------------------------------------Moody's Investors Service upgraded the ratings of NCI BuildingSystems, Inc. ("NCI"), including its Corporate Family Rating to Ba3from B1 and Probability of Default to Ba3-PD from B1-PD. In thesame rating action, Moody's upgraded the company's senior securedterm loan to Ba2 from Ba3 and senior unsecured notes to B1 from B3.The SGL-2 rating was affirmed, and the outlook is stable.The upgrades reflect the company's having surpassed the upgradetriggers that Moody's established in the past, with furtherimprovement expected. The upgrades also incorporate Moody's growingcomfort with NCI's private equity ("PE") ownership, which has beensteadily reduced through stock sales to the public since the PEcompany, CD&R, first invested in NCI in 2009.The following ratings actions were taken:Upgrades:Issuer: NCI Building Systems, Inc. -- Probability of Default Rating, Upgraded to Ba3-PD from B1-PD -- Corporate Family Rating, Upgraded to Ba3 from B1 -- Senior Secured Term Loan B, Upgraded to Ba2 (LGD3) from Ba3 (LGD3) -- Senior Unsecured Regular Bond/Debenture, Upgraded to B1 (LGD5) from B3 (LGD5)Outlook Actions:Issuer: NCI Building Systems, Inc. -- Outlook, Changed To Stable From PositiveAffirmations:Issuer: NCI Building Systems, Inc. -- Speculative Grade Liquidity Rating, Affirmed SGL-2RATINGS RATIONALEThe Ba3 Corporate Family Rating reflects the company's relativelystrong credit metrics for its current rating, with furtherimprovement expected in fiscal 2018. Moreover, the company hassuccessfully taken significant costs out of its operations, withfurther efficiencies expected in fiscal 2018 as well. In addition,Moody's is projecting the non-residential construction sector, towhich NCI is tied, to experience low-to-mid-single digit growthover the next 12 to 18 months.At the same time, the ratings incorporate the volatility in steelprices, which constitute over 70% of the company's cost structure,and the fact that CD&R still has a 34.68% ownership stake in NCI.While this ownership percentage is no longer a major obstacle to anupgrade, it is still a factor to watch because of possible eventrisk.The stable outlook reflects Moody's expectation that the company'sfinancial profile will continue improving in fiscal 2018 and thatCD&R will not engage in actions that negatively impact thecompany's key credit metrics.NCI's liquidity is good, supported by nearly $46 million ofunrestricted cash and equivalents at July 30, 2017, a $150 millionundrawn asset-based revolver ("ABL") due 2019 (unrated by Moody's),and generally positive free cash flow generation. The ABL has aspringing 1:1 fixed charge covenant and had borrowing capacity of$139.9 million as of July 30, 2017, based on a borrowing baseformula.A positive rating action could ensue if 1) the company's PEownership would continue declining, 2) adjusted debt to EBITDA wereto remain below 3.0x, 3) EBITA margins were to approach 10%, 4)EBITA to interest expense were to reach the high 4x level, and 5)revenues were to approach the $3 billion mark.Alternatively, Moody's would consider a downgrade if 1) operatingincome were to decline sharply, 2) adjusted debt to EBITDA were toexceed 4.25x, 3) EBITA margins were to fall below 5%, 4) EBITA tointerest expense were to fall below 2.5x, 4) free cash flow were toturn negative on a trailing 12 month basis, and/or 5) liquiditywere to become impaired.The $144.1 million term loan due 2022 is rated Ba2, one notch abovethe Corporate Family Rating of Ba3, due to the loss absorptionprovided by the $250 million, 8.25% senior unsecured notes dueJanuary 2023. These latter notes are rated B1, one notch below theCorporate Family Rating because they are the most junior debtinstrument in the company's capital structure.Headquartered in Houston, Texas, NCI is one of the largestintegrated manufacturers of metal products for the non-residentialindustry in North America. For the trailing 12-month period endedJuly 30, 2017, NCI generated approximately $1.8 billion in revenuesand $56 million in net income.The principal methodology used in these ratings was GlobalManufacturing Companies published in June 2017. NOBLE HOLDING: Moody's Cuts CFR to B3 Amid High Debt Levels-----------------------------------------------------------Moody's Investors Service downgraded Noble Holding InternationalLimited's Corporate Family Rating (CFR) to B3 from B2 and itssenior unsecured notes ratings to Caa1 from B2. The seniorunsecured notes of Noble Drilling Corporation (NDC, debt assumed byNoble Holding (US) LLC) were downgraded to B3 from B2. Noble'sSpeculative Grade Liquidity Rating was affirmed at SGL-2 and therating outlook remains negative. Noble is an indirect wholly ownedsubsidiary of Noble Corporation plc, a publicly traded offshoredrilling company."The downgrade to B3 and continued negative outlook reflectsNoble's very high debt levels relative to its expected cash flowand the limited visibility to a meaningful recovery in offshoredrilling conditions and profitability," said Pete Speer, Moody'sSenior Vice President. "The new revolver is a favorable developmentthat extends the company's liquidity runway and capacity to rollits debt maturities through January 2023, but the new revolverstructurally subordinates Noble's senior notes and that has causedthe two notch downgrade of the notes rating to Caa1."Downgrades:Issuer: Noble Holding International Limited -- Probability of Default Rating, Downgraded to B3-PD from B2-PD -- Corporate Family Rating, Downgraded to B3 from B2 -- Multiple Seniority Shelf, Downgraded to (P)Caa1 from (P)B2 -- Senior Unsecured Regular Bond/Debenture, Downgraded to Caa1(LGD4) from B2(LGD4)Issuer: Noble Drilling Corporation -- Senior Unsecured Regular Bond/Debenture, Downgraded to B3(LGD4) from B2(LGD4)Outlook Actions:Issuer: Noble Holding International Limited -- Outlook, Remains NegativeAffirmations:Issuer: Noble Holding International Limited -- Speculative Grade Liquidity Rating, Affirmed SGL-2RATINGS RATIONALENoble's B3 CFR reflects the company's deteriorating margins andcash flow, high financial leverage and limited prospects formeaningful recovery through 2019 based on weak fundamentalconditions for offshore drilling, particularly in deepwatermarkets. The B3 rating is supported by the company's goodliquidity, manageable debt maturities through 2022 and contractedrevenue backlog which provides visibility to positive free cashflow generation in 2018. Noble's credit profile also benefits fromthe company's relatively newer rig fleet that is predominantly highspecification, placing it in a good competitive position to operatein all major global offshore markets without requiring significantfurther capital investments when demand ultimately begins torecover.Noble's SGL-2 rating reflects the company's good liquidity throughmid-2019. At September 30, 2017, the company had $609 million ofcash and full availability under its $2.445 billion unsecuredrevolving credit facility that matures in January 2020. The companyhas received commitments from lenders to enter into a new $1.5billion bank credit facility that is expected to close in the nextfew weeks and mature in January 2023. The new revolver's covenantsinclude a minimum liquidity requirement, maximum consolidatedindebtedness to total capitalization, minimum rig value to totalrevolver commitments and other guarantor debt, and minimum value ofrigs wholly owned by the subsidiary guarantors to total rig value(as defined in the agreement). Moody's expects that the companywill maintain good headroom for future compliance with these newcovenants through at least mid-2019. Noble's liquidity will alsobenefit from $300 million of remaining borrowing availabilitycommitments under its existing revolving credit facility throughJanuary 2020. Moody's expects Noble to generate modest free cashflow in 2018, based on its backlog and maintenance capital spendinglevels since the company has no new rigs under construction. Thecash balance and revolving credit facilities provide ampleliquidity to address debt maturities, working capital needs or incase cash flow falls short of forecasts. The company has $250million of senior notes maturing in March 2018 and $202 million in2019.The outlook is negative, reflecting the risk that a meaningful andsustained offshore drilling recovery could still be several yearsaway, particularly given the oversupply of deepwater andultradeepwater rigs. The ratings could be downgraded if interestcoverage (EBITDA/Interest) approaches 1x, the company generatessignificant negative free cash flow or its liquidity weakens. Inorder to consider a ratings upgrade, Noble will have to achievesequential increases in EBITDA in an improving offshore drillingmarket such that its interest coverage (EBITDA/Interest) exceeds 2xand the company generates meaningful free cash flow to reduce debtand maintain good liquidity.The primary borrower under the new revolving credit facility willbe a subsidiary holding company that will be structurally closer tothe operating subsidiaries. The revolver will also benefit fromoperating subsidiary guarantees that will provide the revolver witha structurally superior claim to the large majority of Noble'sdrilling rigs over Noble's outstanding senior unsecured notes. As aconsequence of this structural subordination, Noble's senior noteshave been downgraded to Caa1, or one notch beneath the B3 CFR inaccordance with Moody's Loss Given Default Methodology.The senior notes issued by NDC ($202 million outstanding andassumed by Noble Holding (US) LLC) are either co-issued by orguaranteed by certain subsidiaries that provides these notes with astructurally superior claim to a small number of Noble's drillingrigs compared to Noble's senior notes. Given the benefit of thispriority claim to certain assets and the amount of notesoutstanding, the NDC notes are rated B3, or the same as the CFR,which Moody's views as more appropriate than the Caa1 ratingassigned to Noble's senior notes.The principal methodology used in these ratings was Global OilfieldServices Industry Rating Methodology published in May 2017. Noble Holding International Limited is a wholly owned subsidiary ofNoble Corporation, a Cayman Island company (Noble-Cayman), which isa wholly owned subsidiary of Noble Corporation plc (Noble plc), acompany incorporated under the laws of England and Wales, and aleading international offshore oil and gas drilling contractor.Noble Holding International Limited is the issuer of thesubstantial majority of the company's rated debt, and therefore theCFR is assigned to that company. Noble Holding InternationalLimited's senior notes and the NDC senior notes are fully andunconditionally guaranteed by Noble-Cayman.OCULAR THERAPEUTIX: Recurring Losses Raise Going Concern Doubt--------------------------------------------------------------Ocular Therapeutix, Inc., filed its quarterly report on Form 10-Q,disclosing a net loss of $15,567,000 on $523,000 of total revenuesfor the three months ended September 30, 2017, compared with a netloss of $9,596,000 on $477,000 of total revenues for the sameperiod in 2016. For the nine months ended September 30, 2017, the Company recordeda net loss of $50,284,000 on $1,436,000 of total revenues, comparedto a net loss of $31,881,000 on $1,376,000 of total revenues forthe same period last year.At September 30, 2017, the Company had total assets of $64.40million, total liabilities of $28.48 million, and $35.92 million intotal stockholders' equity.Since inception, the Company has incurred significant operatinglosses. As of September 30, 2017, the Company has an accumulateddeficit of $224.2 million. The Company has generated limitedrevenue to date. In 2014, the Company began recognizing revenuefrom sales of ReSure Sealant. All of the Company's sustained drugdelivery products are in various phases of clinical and preclinicaldevelopment. The Company does not expect sales of ReSure Sealantto generate revenue that is sufficient for them to achieveprofitability. Instead, its ability to generate product revenuesufficient to achieve profitability will depend heavily on themobtaining marketing approval for and commercializing products withgreater market potential, including one or both of DEXTENZA andOTX-TP. Through September 30, 2017, the Company has financed its operationsprimarily through private placements of its preferred stock, publicofferings of its common stock and borrowings under creditfacilities. In November 2016, the Company entered into the 2016ATM Agreement with Cantor, under which the Company may offer andsell its common stock having aggregate proceeds of up to $40.0million from time to time. Through October 31, 2017, the Companyhad sold 890,568 shares of common stock under the 2016 ATMAgreement, resulting in net proceeds of approximately $6.6 millionafter underwriting discounts, commission and other offeringexpenses. In January 2017, the Company completed a follow-onoffering of its common stock at a public offering price of $7.00per share. The offering consisted of 3,571,429 shares of commonstock sold by them. The Company received net proceeds from thefollow-on offering of approximately $23.3 million after deductingunderwriting discounts and expenses. In March 2017, the Company amended its credit facility to increasethe total commitment to $38.0 million including $18.0 million ofborrowings drawn at closing, which was used primarily to pay-offoutstanding balances on the facility as of the closing date, andoptions on two additional tranches of $10.0 million, eachcontingent on regulatory and commercial milestones for DEXTENZAthat they have not yet achieved. The interest-only payment periodwas extended through February 1, 2018 and there are provisions tofurther extend the interest-only period based on the achievement ofcertain milestones.As of September 30, 2017, the Company has cash and cash equivalentsof $51.2 million and outstanding debt of $18.0 million. Cash inexcess of immediate requirements is invested in accordance with itsinvestment policy, primarily with a view to liquidity and capitalpreservation. In August 2017, the Company announced that theyexpected to realize savings in operating expenses, includingpersonal costs, as a result of streamlining headcount, as part ofan initiative to enhance operations and reduce expenses. Based onthe Company's current plans and forecasted expenses, with thesecosts savings, the Company believes that existing cash and cashequivalents will fund operating expenses, debt service obligationsand capital expenditure requirements into the fourth quarter of2018. If the Company is unable to obtain additional financing, itwill be required to implement further cost reduction strategies. These factors, and the factors described above, continue to raisesubstantial doubt about the Company's ability to continue as agoing concern.A copy of the Form 10-Q is available at: https://is.gd/CYbyoN About CombiMatrix CorporationBedford, Mass.-based Ocular Therapeutix, Inc., is abiopharmaceutical company focused on the development, manufacturingand commercialization of therapies for diseases and conditions ofthe eye using its proprietary hydrogel platform technology. Itslead product candidate, DEXTENZA (dexamethasone insert) forintracanalicular use, has completed Phase III clinical developmentfor the treatment of ocular pain and inflammation followingophthalmic surgery. OTX-TP (travoprost insert) is in Phase IIIclinical development for glaucoma and ocular hypertension. ORCHARD ACQUISITION: Taps Prime Clerk as Claims and Noticing Agent------------------------------------------------------------------Orchard Acquisition Company, LLC seeks approval from the U.S.Bankruptcy Court for the District of Delaware to hire Prime ClerkLLC as claims and noticing agent.The firm will oversee the distribution of notices and themaintenance, processing and docketing of claims filed in theChapter 11 cases of Orchard Acquisition and its affiliates.The hourly rates charged by the firm are: Analyst $30 - $50 Technology Consultant $35 - $95 Consultant/Senior Consultant $65 - $165 Director $175 - $195 COO/Executive VP No charge Solicitation Consultant $190 Director of Solicitation $210Prior to their bankruptcy filing, the Debtors provided Prime Clerka $50,000 retainer.Shira Weiner, general counsel of Prime Clerk, disclosed in a courtfiling that the firm is a "disinterested person" as defined insection 101(14) of the Bankruptcy Code.Prime Clerk can be reached through: Shira D. Weiner Prime Clerk LLC 830 Third Avenue, 9th Floor New York, NY 10022 Phone: (212) 257-5450 About Orchard Acquisition Company LLCOrchard Acquisition Company, LLC and its affiliates providedirect-to-consumer access to financing solutions through a varietyof avenues, including mortgage lending, structured settlements,annuity and lottery payment purchasing, prepaid cards, and conduitsto personal loan providers.The company's direct-to-consumer businesses use digital channels,television, direct mail, and other channels to offer access tofinancing solutions. Orchard Acquisition warehouses, securitizes,sells, or otherwise finances the assets that it purchases intransactions. As of Sept. 30, 2017, the company had 725 full-timeemployees. It is headquartered in Radnor, Pennsylvania.Orchard Acquisition and its affiliates sought protection underChapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No.17-12914) on December 12, 2017. Its affiliates are The J.G.Wentworth Company LLC, The J.G. Wentworth Company, J.G. WentworthLLC, and JGW Holdings, Inc.Stewart A. Stockdale, its chief executive officer, signed thepetitions. At the time of the filing, the Debtors disclosed thatthey had estimated assets and liabilities of $100 million to $500million.Judge Kevin Gross presides over the cases.The Debtors hired Young Conaway Stargatt & Taylor, LLP and SimpsonThacher & Bartlett LLP as legal counsel; Evercore Group LLC asinvestment banker; Ankura Consulting Group LLC as transactionadvisor; Prime Clerk LLC as administrative advisor; KPMG LLP as taxconsultant and restructuring advisor; and Ernst & Young LLP asauditor.PENN NATIONAL: Moody's Puts Ba3 CFR on Review for Downgrade-----------------------------------------------------------Moody's Investors Service placed the ratings of Penn NationalGaming, Inc. and Pinnacle Entertainment, Inc. on review fordowngrade in response to December 18, 2007 announcement that Pennwill acquire Pinnacle in a cash and stock transaction valued atapproximately $2.8 billion."Despite the inherent benefits of the combined entities large size,geographic diversification, and real estate investment truststructure, Moody's has concerns that the leverage of the combinedentity will remain above what Moody's would consider appropriatefor a Ba3 Corporate Family Rating," stated Keith Foley, a SeniorVice President at Moody's.Penn and Pinnacle have entered into a definitive agreement wherebyPinnacle shareholders will receive $20 in cash and 0.42 shares ofPenn common stock for each Pinnacle share, or the equivalent ofabout $32.47 per Pinnacle share. The transaction has been approvedby the boards of directors of both companies and is expected toclose in the second half of 2018.On Review for Downgrade:Issuer: Penn National Gaming, Inc. -- Probability of Default Rating, Placed on Review for Downgrade, currently Ba3-PD -- Corporate Family Rating, Placed on Review for Downgrade, currently Ba3 -- Senior Secured Bank Credit Facilities, Placed on Review for Downgrade, currently Ba2(LGD3) -- Senior Unsecured Regular Bond/Debenture, Placed on Review for Downgrade, currently B2(LGD5)Issuer: Pinnacle Entertainment, Inc. -- Probability of Default Rating, Placed on Review for Downgrade, currently Ba3-PD -- Corporate Family Rating, Placed on Review for Downgrade, currently Ba3 -- Senior Secured Bank Credit Facilities, Placed on Review for Downgrade, currently Ba2(LGD3) -- Senior Unsecured Regular Bond/Debenture, Placed on Review for Downgrade, currently B2(LGD5)Outlook Actions:Issuer: Penn National Gaming, Inc. -- Outlook, Changed To Rating Under Review From StableIssuer: Pinnacle Entertainment, Inc. -- Outlook, Changed To Rating Under Review From StableRATINGS RATIONALEPenn's pro forma debt/EBITDA on a Moody's adjusted basis is 6.0x;slightly lower, at about 5.8 times, giving 50% credit to Penn's$100 million operating expense synergies assumption. With orwithout assumed synergies, pro forma leverage is still very closeto Moody's stated debt/EBITDA downgrade trigger of 6.0x, and abovewhere Moody's expected Penn's leverage to be at this time givenMoody's expectation regarding the company's debt reduction plans.The leverage of both Penn and Pinnacle were already considered highfor their Ba3 Corporate Family Ratings. For the latest 12-monthperiod that ended September 30, 2017, Penn's Moody's-adjusteddebt/EBITDA was 5.8x and Pinnacle's was 6.0x, both above the 4.5xupper end of the defined debt/EBITDA range for Ba3 gamingcompanies, according to Moody's Global Gaming methodology.Moody's review will focus on Penn's willingness and ability toreduce post acquisition leverage, and weigh this against thefavorable longer-term credit benefits related to increased size,diversification, and economies of scale arising from itsacquisition of Pinnacle. At this time Moody's expect any downgradewould be limited to one-notch.Penn National Gaming, Inc. owns, operates twenty-seven facilitiesin seventeen jurisdictions, including Florida, Illinois, Indiana,Kansas, Maine, Massachusetts, Maryland, Mississippi, Missouri,Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, WestVirginia, and Ontario. Net revenue for the latest 12-month periodended September 30, 2017 was about $3.2 billion.Pinnacle owns and operate 16 gaming, hospitality and entertainmentbusinesses, of which 15 operate in leased facilities. Net revenuefor the latest 12-month period ended September 30, 2017 was about$2.6 billion. The company's owned facilities are located in Ohioand Moody's leased facilities are located in Colorado, Indiana,Iowa, Louisiana, Mississippi, Missouri, Nevada, and Pennsylvania.Pinnacle also holds a majority interest in the racing licenseowner, and is a party to a management contract, for Retama ParkRacetrack located outside of San Antonio, Texas. The company alsoowns and operates a live and televised poker tournament seriesunder the trade name Heartland Poker Tour.The principal methodology used in these ratings was Global GamingIndustry published in December 2017. PENNSYLVANIA ECONOMIC: Fitch Affirms BB Rating on 2005 Ser. F Bonds-------------------------------------------------------------------Fitch Ratings has affirmed the rating on the Pennsylvania EconomicDevelopment Financing Authority's (the Colver Project)approximately $9.5 million in 2005 series F resource recoveryrevenue refunding bonds due December 2018 at 'BB'. The RatingOutlook is Stable.KEY RATING DRIVERSThe rating reflects the significant liquidity remaining through thefinal year of debt service, substantially mitigating the risk ofincreasingly frequent forced outages at this aging waste coalfacility. A long-term power purchase agreement (PPA) withPennsylvania Electric Company (Penelec, BBB/Stable) helps stabilizerevenues, but cash flow remains vulnerable to reduced availabilityand increased maintenance costs. The debt service coverage ratio(DSCR) hit breakeven in 2017, which is not consistent with thecurrent rating level. However, the rating is supported bysufficient cash reserves to cover the final year of debt paymentsand an expected return to normalized operations with a rating casecoverage of 1.30x in 2018.Contractual Revenues - Revenue Risk: Midrange The project relies on the ability of the operator to maintain highavailability and capacity factors in order to maximize variablepayments under the PPA, capture the benefit of excess energy soldat the locational marginal price (LMP) and provide revenuestability. LMP sales, despite price variability and contributing arelatively small percentage to total revenues, help to add cushionto the cash flow profile.Operating Margin Subject to Cost Control - Operation Risk: WeakerThe project remains exposed to price fluctuations in commodities,uncertain emissions compliance costs and persistent maintenancechallenges. Colver generally is meeting the Cross State AirPollution Rule requirements and benefits from a complianceextension beyond the debt maturity which provides some near-termcash flow relief.Adequate Coal Supply - Supply Risk: Midrange Despite 75% of waste coal under contract through debt maturity, theproject is susceptible to potential price swings in the remaining25% of spot coal supply. The relative liquidity and depth of thewaste coal market help mitigate this risk over the remaining debttenor. Increased use of opportunity fuel has also diversified costrisk.Declining Debt Service - Debt Structure: StrongerThe debt structure is typical for project finance as it isfixed-rate and fully amortizes in 2018. The available liquiditybolsters cash flows against periods of production shortfalls orincreased operating costs and further strengthens the debt profile. Financial Profile Under a modest rating case stress scenario which combines flatrevenues and a 10% operating expense increase, Fitch projects aDSCR of 1.30x in 2018, consistent with 'BB' metrics under Fitch'scriteria for fully contracted thermal power projects.PEER GROUP Colver and Choctaw Generation LP (series 1 rated B/Stable; series 2rated CCC) face operating performance challenges typical for coalfacilities, though Colver has a longer history of establishedoperating performance. With at least 14 years remaining to debtmaturity, Choctaw is exposed to longer-term risks of variability inplant performance and potential exposure to merchant revenues, andlacks liquidity reserves to mitigate potential shortfalls inoperating cash. RATING SENSITIVITIESFuture Developments That May, Individually or Collectively, Lead toNegative Rating Action: -- Depletion of reserves due to increased maintenance costs, extended outage, or other operating challenges that compromise debt repayment could result in a downgrade.Future Developments That May, Individually or Collectively, Lead toPositive Rating Action: -- Positive rating action is unlikely at this time.CREDIT UPDATE Performance UpdatePlant operating performance in 2017 improved in comparison to 2016and returned to historical levels. The capacity factor rose toroughly 90.5% year-to-date (YTD) 2017 through October and is inline with annual levels traditionally above 90%. Availability roseto 87.5% YTD 2017, slightly below the average availability of 90.3%from 2014 to 2016. Despite the lower availability, the project willstill meet the required three-year rolling average minimumavailability of 85% to avoid penalty charges from the off-taker.The project has faced growing maintenance needs typical of an agingcoal facility. Similar to previous years, Colver experiencedpersistent tube leaks in 2017, averaging one to two per month, andrecently completed a two-week planned outage starting in Septemberextending through Oct. 15, 2017. Inspections during the outage didnot reveal any material issues, only intermittent vibration issuesrelated to one of the fans that will be addressed while the plantcontinues to operate. Going forward, the plant is expected tocontinue the 14-day outage and 12-month maintenance cycle toaddress maintenance challenges and improve operating performance.Management reported a 2017 annual DSCR of 1.00x resulting from acombination of lower revenues and increased expenses due to theoutage in late 2016. Operating performance improved throughout 2017following the major outage in 2016, and a semi-annual DSCR of 1.38xin the latter part of the year buoyed the weaker DSCR of 0.62x inthe first half of the year. While the 2017 metric is not indicativeof a 'BB' rating, the short remaining debt tenor and availableliquidity of $33 million help to significantly reduce theprobability of default and support the rating at the current levelthrough maturity. The debt service reserve balance of $18 millionalone is more than sufficient to cover the final year of debtpayment in 2018.The increased utilization of opportunity fuel is expected tocontinue benefitting the project's cost profile, as it is cheaperand more efficient than fixed-price contracted coal options, alsoreducing the sulfur content in Colver's fuel and resulting usage oflimestone. Continuation of lower diesel costs will also help Colvermanage transportation costs for fuel delivery and ash disposal. Inaddition, the approval by the Pennsylvania DEP to defer compliancewith MATS environmental requirements to April 2019 continues tokeep operating costs lower.Fitch CasesFitch's base case assumes 1.0% revenue growth in 2018 with expensegrowth of 5.0%. This results in a DSCR of 1.46x in 2018 as debtservice declines by approximately 40%. Fitch's rating case assumes performance in 2018 is similar to thehistorical average, with relatively flat revenue growth of 0.5% andexpense growth of 10.0%. In this scenario, Fitch estimates the DSCRwill be 1.30x in 2018.Asset Description The Colver Project consists of a nominal 111.15MW waste coal-firedqualifying facility located on a 62-acre site in Cambria County,PA. The project also includes a 9.6-mile, 115-kilovolt transmissionline interconnecting with the Penelec Glory Substation. The Colverfacility began commercial operations on May 16, 1995. The seniorbonds were issued on behalf of an owner-participant as part of aleveraged-lease transaction. Colver's sponsor is a limitedpartnership, Inter-Power/AhlCon Partners, which is held bysubsidiaries of Northern Star Generation.Under the terms of the PPA, Penelec pays flat rates on annualenergy up to 278 gigawatt-hours (GWh) of on-peak production and 501GWh/year off-peak production. Penelec purchases excess energy atthe posted hourly LMP or day-ahead price of PJM Interconnection,LLC.PREFERRED CARE: Taps Gardere Wynne as Legal Counsel---------------------------------------------------Preferred Care Inc. seeks approval from the U.S. Bankruptcy Courtfor the Northern District of Texas to hire Gardere Wynne Sewell LLPas its legal counsel.The firm will advise the company and its affiliates regarding theirduties under the Bankruptcy Code; negotiate with creditors; assistin obtaining court approval to get bankruptcy loan; give adviceregarding any potential sale of their assets; assist in thepreparation of a bankruptcy plan; and provide other legal servicesrelated to their Chapter 11 case.Stephen McCartin, Esq., and Mark Moore, Esq., the attorneys whowill be handling the cases, charge $725 per hour and $380 per hour,respectively.The firm received an initial retainer from the Debtors in the sumof $515,000, of which $58,378 was used to pay the filing fees.Gardere is a "disinterested person" as defined in section 101(14)of the Bankruptcy Code, according to court filings.The firm can be reached through: Stephen A. McCartin, Esq. Mark C. Moore, Esq. Gardere Wynne Sewell LLP 2021 McKinney Avenue, Suite 1600 Dallas, TX 75201 Tel: (214) 999-3000 Fax: (214) 999-4667 Email: firstname.lastname@example.com Email: email@example.com About Preferred Care Inc.Preferred Care, Inc., a management company, provides healthcareproducts, programs, services, and related financial activities.Preferred Care and its affiliates sought protection under Chapter11 of the Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 17-44642)on November 13, 2017. Judge Mark X. Mullin presides over thecases.At the time of the filing, Preferred Care disclosed that it hadestimated assets and liabilities of $1,000,001 to $10 million.On November 28, 2017, the Office of the U.S. Trustee appointed anofficial committee of unsecured creditors.PROFLO INDUSTRIES: U.S. Trustee Unable to Appoint Committee-----------------------------------------------------------The U.S. Trustee was unable to appoint an official committee ofunsecured creditors in the Chapter 11 case of ProFlo Industries,LLC, according to a notice filed with the U.S. Bankruptcy Court forthe Northern District of Ohio. About ProFlo IndustriesHeadquartered in Alvada, Ohio, ProFlo Industries, LLC, is an OhioLimited Liability Company engaged in the airline refuelingbusiness. The principal customers of the business aremulti-national companies providing goods, services and advice inthe global aviation industry. ProFlo consists of one shareholder:Terry N. Bosserman who owns 100% of the shares.ProFlo Industries filed for Chapter 11 bankruptcy protection(Bankr. N.D. Ohio Case No. 17-33184) on Oct. 8, 2017, estimatingits assets at between $500,001 and $1 million and liabilitiesbetween $100,001 and $500,000. The petition was signed by Terry N.Bosserman, president. The Debtor is represented by Patricia A.Kovacs, Esq.PROSPECTOR OFFSHORE: Plan Filing Deadline Moved to March 16-----------------------------------------------------------The Hon. Christopher S. Sontchi of the U.S. Bankruptcy Court forthe District of Delaware, at the behest of Prospector OffshoreDrilling S.a r.l. and its affiliated debtors, has extended theexclusive chapter 11 plan filing period through March 16, 2018, aswell as the exclusive plan solicitation period through May 16,2018.The Troubled Company Reporter has previously reported that theDebtors sought for a 120-day extension of their exclusive periods,asserting that the extension will afford them an opportunity tocomplete tasks necessary to develop, negotiate, and, if necessary,litigate resolution of these chapter 11 cases.The Debtors also asserted that the chapter 11 cases are large andcomplex, involving approximately $170 million of non-intercompanydebt as of the Petition Date. In addition, the Debtors mentionedthat the oil and gas industry in which they operate is amidst asignificant and prolonged down-turn impacting not only the Debtors,but also their critical business partners.Despite facing significant challenges presented by their industryand debt structure, the Debtors claimed that they have stabilizedoperations and made substantial progress towards reaching a dealwith their primary creditors. Moreover, the Debtors claimed that nocreditor will be materially prejudiced by the requested extension.The Debtors believed that their activities since the Petition Datehave prepared the necessary foundation to advance these chapter 11cases toward a path to exit, however certain key tasks remain to becompleted before the Debtors can emerge from chapter 11.Specifically, the Debtors must, among other things, continue toadvance their negotiations with third-party lessors of the Debtors'rigs, which are subsidiaries of SinoEnergy Capital Management,Ltd., and Industrial Commercial Bank of China, New York Branch, thesecurity agent to the Prospector Debtors' pledge agreements, whilecontinuing to explore non-consensual options that would allow theDebtors to satisfy their obligations to SinoEnergy.Accordingly, the Debtors asserted that the requested extension ofthe Exclusive Periods will ensure their ability to either advancethese cases to a consensual conclusion or, if necessary, moveforward with a non-consensual path out of chapter 11, without thevalue deterioration and disruption to the Debtors' businessoperations that likely would be caused by the filing of competingplans by non-Debtor parties. About Prospector Offshore and Paragon OffshoreProspector Offshore Drilling S.a r.l. and three affiliates filedseparate Chapter 11 bankruptcy petitions (Bankr. D. Del. Case Nos.17-11572 to 17-11575) on July 20, 2017. The affiliates areProspector Rig 1 Contracting Company S.a r.l.; Prospector Rig 5Contracting Company S.a r.l.; and Paragon Offshore plc (inadministration).The Hon. Christopher S. Sontchi presides over the cases.The Debtors are represented by Gary T. Holtzer, Esq., and StephenA. Youngman, Esq., at Weil, Gotshal & Manges LLP, and Mark D.Collins, Esq., Amanda R. Steele, Esq., and Joseph C. Barsalona II,Esq., at Richards, Layton & Finger, P.A., as counsel. The Debtorshired as their financial advisors, Lazard Freres & Co. LLC; astheir restructuring advisor, AlixPartners, LLP; and as theirclaims, noticing and solicitation agent, Kurtzman CarsonConsultants LLC.In their petition, the Debtors estimated $1 billion to $10 billionin both assets and liabilities. The petitions were signed by LeeM. Ahlstrom as senior vice president and chief financial officer.The Debtors' bankruptcy filing came two days after the ParagonOffshore group completed its corporate and financial reorganizationon July 18, 2017. The plan of reorganization under chapter 11 ofthe U.S. Bankruptcy Code substantially de-levered ParagonOffshore's ongoing business, eliminating approximately $2.3 billionof secured and unsecured debt.Paragon Offshore Plc, and several affiliates filed Chapter 11bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10385 to16-10410) on Feb. 14, 2016. The Delaware Bankruptcy Court enteredan order on June 7, 2017, confirming the 2016 Debtors' Fifth JointChapter 11 Plan of Reorganization.RAMLA USA: L.A. Spoon Buying Interest in Liquor License for $85K----------------------------------------------------------------Ramla USA, Inc., asks the U.S. Bankruptcy Court for the CentralDistrict of California to authorize the sale of its interest in aType-47 "On-Sale General For Bona Fide Eating Place" liquor licensebearing license number 47-521524 to L.A. Spoon, LLC for $85,000,subject to overbid.A hearing on the Motion is set for Jan. 9, 2018 at 2:00 p.m. Objections, if any, must be filed at least 14 days prior to thehearing on the Sale Motion.The Debtor owns and operates traditional Japanese/Izakaya-stylerestaurants. Along with four restaurant/food service locationscurrently in operation (located in Monrovia, San Francisco, PalmSprings, and Los Angeles, California), it has two non-operatinglocations in West Covina, California and Encino, California("Defunct Locations") that closed in early 2017 and mid-2016,respectively. Each of the Defunct Locations still has liquorlicenses associated with them. The Debtor has determined that theLiquor License associated with the Encino Location, which expireson Nov. 30, 2018, has significant value for the Estate.The Debtor has received an offer from the Buyer to purchase theLiquor License for $85,000. The parties Buyer have negotiated asale of the Estate's interest in the Liquor License pursuant to theterms of the Escrow Instruction.The salient terms of the proposed sale are: a. Sale Price: The Debtor proposes to sell the Liquor Licenseto the Buyer, subject to Court approval, for $85,000. The PurchasePrice will be deposited in full into escrow by the Buyer within 30days after the application to transfer the Liquor License has beenfiled with the ABC. In the event a party other than the Buyer isthe winning overbidder for the Liquor License, such overbidder willdeposit the balance of the overbid amount (taking into account anydeposit delivered by such overbidder) into escrow within threecalendar days after entry of a Court order granting the SaleMotion. b. Earnest Money Deposit: The Buyer will deliver a good faithdeposit in the sum of $8,500 to Federal Escrow, Inc. c. Payment of Costs, Fees, and Sale or Transfer Taxes: TheBuyer will bear and be solely responsible for the payment of anyand all costs, fees, and sales or transfer taxes arising from thesale and transfer of the Liquor License, including but not limitedto escrow fees, recording fees, and transfer fees. The commissionowed to the Buyer's broker, Art Rodriguez Associates, will be paidbythe Buyer. Any sales and use taxes payable to the State Board ofEqualization incurred by the Debtor prior to the transfer of theLiquor License will be paid by the Estate from the Purchase Pricethrough escrow, however the Debtor is not aware of any tax lienssecured by the Liquor License d. Sale Subject to Overbid: The proposed Sale to the Buyer issubject to overbid, according to the terms proposed. e. No Representations or Warranties: The Debtor is selling theLiquor License to the Buyer on an "as is, where is" basis, withoutany representations or warranties by the Debtor.The salient terms of the Bidding Procedures are: a. Present at Hearing: The Buyer and each Qualified Bidder,must be either physically present at the hearing on the Sale Motionor represented by an individual or individuals who is/arephysically present at the hearing and have the authority toparticipate in the overbid process; b. Earnest Money Deposit: $8,500, payable to Federal EscrowInc. c. Initial Overbid: The initial overbid for the Liquor Licensewill be $5,000, with subsequent overbids being made in minimumincrements of $1,000. d. Successful Overbidder Subject to Terms of EscrowInstructions. In the event that the Buyer is not the successfulbidder for the Liquor License, the Successful Bidder will thenbecome the buyer under the same terms and conditions as set forthin the Escrow Instructions (with the exception of the price to bepaid for the Liquor License). Under these circumstances, theEscrow Instructions with the Buyer would no longer be effective andthe Buyer would be entitled to full refund of its Deposit.The Debtor is not aware of any liens, interests, claims orencumbrances asserted against the Liquor License. Thus, it submitsthe Court may authorize the Sale free and clear of all liens,interests, claims, and encumbrances.A copy of the Agreement attached to the Motion is available forfree at: http://bankrupt.com/misc/Ramla_USA_51_Sales.pdfThe Debtor submits that the Purchase Price for the Liquor Licenseoffered by the Buyer is fair and reasonable and that the LiquorLicense was adequately marketed. Based upon the Debtor's review ofcomparable sales, the Debtor believes that the Purchase Price is areasonable offer given the current market conditions. In addition,the proposed overbid procedures and auction process arespecifically designed to ensure that the highest price possible isobtained for the asset. Given that there are no secured liensasserted against the Liquor License, the Debtor submits that theproposed Sale will provide the Estate with a significant benefit.The Debtor asks the Court to waive the 14-day stay imposed byF.R.B.P. 6004(h).The Buyer: L.A. SPOON, LLC Sean Loeffel, Agent for Service 1254 S Highland Avenue Los Angeles, CA 90019Counsel for the Debtor: Robyn B Sokol, Esq. Nina Z. Javan, Esq. Michael M. Davis, Esq. BRUTZKUS GUBNER ROZANSKY SEROR WEBER LLP 21650 Oxnard St Ste 500 Woodland Hills, CA 91367 Telephone: (818) 827-9000 Facsimile: (818) 827-9099 E-mail: email@example.com firstname.lastname@example.com firstname.lastname@example.com email@example.com About RAMLA USAHeadquartered in Monrovia, California, Ramla USA Inc. is a smallorganization in the restaurants industry located in Monrovia,California. It owns and operates traditionalJapanese/Izakaya-style restaurants. Along with fourrestaurant/food service locations currently in operation (locatedin Monrovia, San Francisco, Palm Springs, and Los Angeles,California), it has two non-operating locations in West Covina,California and Encino, California that closed in early 2017 andmid-2016, respectively. Each of the defunct locations still hasliquor licenses associated with them.Ramla USA Inc. sought Chapter 11 protection (Bankr. C.D. Cal. CaseNo. 17-24318) Nov. 20, 2017. The petition was signed by Yuji Ueno,CEO. The estimated assets in the range of $1 million to $10million and $10 million to $50 million in debt. The Debtor tapped Robyn B. Sokol, Esq., at Brutzkus GubnerRozansky Seror Weber LLP, as counsel.RENTECH WP: Jan. 3 Meeting Set to Form Creditors' Panel-------------------------------------------------------William K. Harrington, United States Trustee for Region 3, willhold an organizational meeting on Jan. 3, 2017, at 10:00 a.m. inthe bankruptcy case of Rentech WP U.S. Inc.The meeting will be held at: The Doubletree Hotel 700 King Street Wilmington, DE 19801The sole purpose of the meeting will be to form a committee orcommittees of unsecured creditors in the Debtors' case.The organizational meeting is not the meeting of creditors pursuantto Section 341 of the Bankruptcy Code. A representative of theDebtor, however, may attend the Organizational Meeting, and providebackground information regarding the bankruptcy cases.To increase participation in the Chapter 11 proceeding, Section1102 of the Bankruptcy Code requires that the United States Trusteeappoint a committee of unsecured creditors as soon as practicable. The Committee ordinarily consists of the persons, willing to serve,that hold the seven largest unsecured claims against the debtor ofthe kinds represented on the committee.Section 1103 of the Bankruptcy Code provides that the Committee mayconsult with the debtor, investigate the debtor and its businessoperations and participate in the formulation of a plan ofreorganization. The Committee may also perform other services asare in the interests of the unsecured creditors whom itrepresents.Rentech, Inc., an owner and operator of wood fibre processing andwood pellet production businesses, on Dec. 19, 2017, disclosed thatit and its subsidiary, Rentech WP U.S. Inc. have filed a voluntarypetition for relief under Chapter 11 of the United StatesBankruptcy Code in the United States Bankruptcy Court for theDistrict of Delaware. The purpose of the bankruptcy filing is toseek to sell the assets of the Company's Fulghum Fibres and NewEngland Wood Pellet subsidiaries and facilitate an orderlywind-down of Rentech Inc.RFI MANAGEMENT: Jan. 18 Plan Confirmation Hearing-------------------------------------------------Judge Benjamin A. Kahn of the U.S. Bankruptcy Court for the MiddleDistrict of North Carolina conditionally approved the amendeddisclosure statement filed by RFI Management, Inc., on November 9,2017.January 17, 2018 is fixed as the last day for filing writtenacceptances or rejections of the Plan.A hearing on final approval of the amended disclosure statement andfor the hearing on confirmation of the plan is set for January 18,2018. December 29, 2017 is fixed as the last day for filing and servingwritten objections to the disclosure statement and confirmation ofthe plan.RFI Management is represented by: James C. White, Esq. 100 Europa Dr. Suite 401 Chapel Hill, NC 27517 About RFI ManagementRFI Management, Inc., works as a subcontractor installing flooringproducts and wall materials, principally in hotel properties acrossthe United States and in Puerto Rico.RFI Management filed a Chapter 11 bankruptcy petition (Bankr.M.D.N.C. Case No. 17-80247) on March 29, 2017. Edward Rosa,President, signed the petition. At the time of filing, the Debtorestimated assets and liabilities between $100,000 and $500,000.James C. White, Esq., and Michelle M. Walker, Esq., at ParryTyndall White, serve as counsel to the Debtor. Padgett BusinessServices of NC is the Debtor's accountant.No official committee of unsecured creditors has been appointed inthe Chapter 11 case. ROLETTE COUNTY: Moody's Lowers Issuer Rating to Ba1; Outlook Neg.-----------------------------------------------------------------Moody's Investors Service has downgraded Rolette County, ND'sissuer rating to Ba1 from A3. Moody's has also downgraded thecounty's lease revenue rating to Ba3 from Baa2. The downgradeaffects $9.6 million of lease revenue bonds. The ratings outlook isnegative.RATINGS RATIONALEThe downgrade to Ba1 on the issuer rating reflects the county'ssmall tax base; weak resident income indices; limited liquidity;recent decline in revenues tied to oil production; elevated debtburden; and a substantial increase in fixed costs associated withupcoming lease payments. Positively, the county's tax base isgrowing, and unfunded pension liabilities are moderate. The issuerrating is equivalent to the rating we would assign to bonds securedby the county's general obligation unlimited tax (GOULT) pledge.The Ba3 lease revenue rating is notched twice from the county'sissuer rating due to the risk of annual non-appropriation of leasepayments, which will be funded in part with new revenue sourcesthat have not yet been generated; the more essential nature of thepledged assets (the county's new jail); and the risks associatedwith operating the new jail facility, which will open in early2018.RATING OUTLOOKThe negative outlook reflects the operating pressures the countyfaces in the next two years as it begins operating a new jail,faces a material increase in fixed costs associated with the leasepayments for the new jail, and contends with significant declinesin revenues related to oil production.FACTORS THAT COULD LEAD TO AN UPGRADEIncreases to operating reserves and liquidity in 2018FACTORS THAT COULD LEAD TO A DOWNGRADENegative budget variances in revenue that further reduce liquidityin 2018Inability to cover lease payments without further reducingliquidity in 2018Failure to appropriate for lease payments in 2018LEGAL SECURITYThe lease revenue bonds are secured by rental payments to be madeby the county to Zion Bank. Per the lease-purchase agreement, thecounty's new jail facility will be granted to the trustee ascollateral. The facility is in the final stages of completion andis expected to open in early 2018. The current lease term runsthrough June 30, 2018 and is subject to renewal by annualappropriation of rental payments, with the county intending torenew the lease annually through August 1, 2046. Under the terms ofthe agreement, the county is required to make annual paymentsdirectly to the trustee at least five business days prior to eachinterest and principal payment date, with payments due on February1 (interest only) and August 1 (principal and interest). The countyhas implemented a Capital Projects Levy, which is the onlydedicated revenue source for the lease payments. Revenue generatedfrom the levy will cover 38% of the $526,731 fiscal 2018 leasepayments. The county will use several other revenue sources for thelease payments, which includes a portion of the General Fund levy,tax revenues from windmills and revenue generated from renting outbeds to local jurisdictions. The trustee has the right to takepossession of the county's new jail facility upon non-renewal ofthe lease-purchase agreement.PROFILERolette County is located in north central North Dakota (Aa1Negative) along the border of Manitoba (Aa2 Stable), Canada (AaaStable), and encompasses an area of approximately 913 square miles.The Turtle Mountain Reservation is located on 46,000 acres in thecounty. The county includes the cities of Rolla, Dunseith, Rolette,St. John, Mylo, and Belcourt. It is home to 14,498 residents as of2015.RYCKMAN CREEK: Statutory Lien Claimants to Get Up to 100% ----------------------------------------------------------Ryckman Creek Resources, LLC, and its affiliates filed with theU.S. Bankruptcy Court for the District of Delaware a supplement tothe modified fifth amended disclosure statement with respect to itssecond modified fourth amended joint plan of reorganization.The debtors believe that the plan sponsorship transaction withSandton Uinta Storage, LLC, represents a superior proposal to thetransaction with 31 Midstream LLC. Sandton will provide over 10 times the amount of upfront cash onthe effective date, which will allow holders of cash-settled claimsand the Uinta County tax claims to receive a larger percentagerecovery on the effective date then they would have otherwisereceived under the modified fourth amended plan.The treatment of claims and interests under the terms of the planremain unchanged, as summarized below: Claim or Interest Status Estimated % Recovery Under the Plan --------------------- ---------- -------------------- Statutory Lien Claims Impaired 0 - 100% Other Priority Claims Unimpaired 100% Unsecured Claims Impaired 0 - 100% Intercompany Claims Impaired 0% Subordinated Claims Impaired 0% Interests Impaired 0%A full-text copy of the debtors' supplement to the modified fifthamended disclosure statement is available at: http://bankrupt.com/misc/deb16-10292-1288.pdf About Ryckman Creek Resources, LLCFormed on Sept. 8, 2009, Ryckman Creek Resources, LLC, is engagedin the acquisition, development, marketing, and operation of anatural gas storage facility known as the Ryckman Creek Facility.The Ryckman Creek Facility is a depleted crude oil and natural gasreservoir located in Uinta County, Wyoming. The company begandevelopment of the reservoir into a natural gas storage facility in2011. The Ryckman Creek Facility began commercial operations inlate 2012 and received injections of customer gas and gas purchasedby the company. The company and its affiliated debtors haveapproximately 35 employees.Ryckman Creek Resources, LLC, Ryckman Creek Resources Holdings LLC,Peregrine Rocky Mountains LLC and Peregrine Midstream Partners LLCfiled Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No.16-10292) on Feb. 2, 2016. The petitions were signed by Robert Fossas chief executive officer. Kevin J. Carey has been assigned thecase.The Debtors hired Skadden, Arps, Slate, Meagher & Flom LLP ascounsel; AP Services, LLC, as management provider; Evercore GroupLLC as investment banker; and Kurtzman Carson Consultants LLC asclaims and noticing agent.On April 11, 2016, Ryckman Creek Resources disclosed total assetsof more than $205 million and total debt of more than $391.2million.On Feb. 12, 2016, the Office of the U.S. Trustee appointed anofficial committee of unsecured creditors. Attorneys for thecommittee are Greenberg Traurig, LLP's Dennis A. Meloro, Esq.,David B. Kurzweil, Esq., and Shari L. Heyen, Esq. The committeeretained Alvarez & Marsal, LLC, as financial advisor. SEADRILL LIMITED: Wants to Maintain Plan Exclusivity Until May 10-----------------------------------------------------------------Seadrill Limited and its affiliated debtors ask the U.S. BankruptcyCourt for the Southern District of Texas to extend the periodduring which the Debtors have the exclusive right to file a chapter11 plan through and including May 10, 2018, as well as the periodduring which the Debtors have the exclusive right to solicitacceptances to the plan through and including July 9, 2018.The Debtors seek a 180-day extension of their exclusivity periodsso that they may continue to diligently pursue a value-maximizingresolution to these chapter 11 cases. The Debtors relate thatfollowing nearly two years of intensive negotiations, the Debtorsentered into a Restructuring Support and Lock-Up Agreement thatestablishes a consensual framework for a value maximizingrestructuring.The Debtors claim that the Restructuring Support Agreement nowenjoys the support of approximately 99% of the lenders under theDebtors' 12 secured bank facilities, holders of nearly 40% of theDebtors' outstanding unsecured bonds, and the Debtors' largestshareholder and bellwether investor in the offshore space, HemenHolding Ltd.The Restructuring Support Agreement contemplates a maturityextension of the Bank Facilities by an average of approximatelyfive years and the elimination of near-term amortizationobligations thereunder, the equitization of the Debtors' $2.3billion in unsecured bond obligations, and a $1.06 billion capitalinvestment backed by Hemen Holding and a syndicate of additionalinvestors.As such, the Debtors believe that the restructuring contemplated bythe Restructuring Support Agreement will bridge their businesses toa broader market recovery.The Debtors contend that, to capture the full benefit of theRestructuring Support Agreement, they must proceed through thesechapter 11 cases at a steady pace. The Investment Agreementgoverning the Capital Commitment contains milestones that requirethe Debtors to obtain approval of their disclosure statement byFebruary 9, 2018, and to confirm a plan of reorganization by June9, 2018. To this end, the Debtors claim that they have madesignificant progress to date.On the first day of their chapter 11 cases, the Debtors filed aChapter 11 Plan and related disclosure statement. The Debtors havesubsequently worked to update the Plan and Disclosure Statement forcase, industry, and business developments and, contemporaneouslywith the Exclusivity Motion, filed an amended Plan and relatedDisclosure Statement, as well as a motion seeking approval of theDisclosure Statement and related solicitation procedures.Additionally, the Debtors have continued to actively engage withvarious parties in interest not party to the Restructuring SupportAgreement, including the official committee of unsecured creditorsappointed in these chapter 11 cases, an ad hoc group of unsecurednoteholders, and participants in the Debtors' post-petitionmarketing process.In addition to the various tasks necessary to administer theirchapter 11 cases, the Debtors assert that they have engaged in arobust post-petition marketing process. As part of thepost-petition process, which supplements a year-long prepetitionmarketing process, the Debtors reached out to 89 potentialinvestors and, after multiple phases and extensive discussions,meetings, and diligence efforts, ultimately received proposals fromtwo potential investor constituencies -- Barclays Capital and theAd Hoc Group.On December 12, 2017, the Debtors commenced the final phase oftheir marketing process by sending Barclays and the Ad Hoc Groupletters requesting that they post a cash deposit equal to 10% ofthe proposed commitment amount, at which point the Debtors may thenforward the proposals to the Bank Lenders and request theirfeedback. The Debtors continue to analyze the proposals, both ofwhich would require certain consents the parties have not yetsecured.The Debtors believe the Plan currently embodies thevalue-maximizing alternative, although the Debtors will continue todiligently pursue their marketing process in an effort to secureeven greater value for their stakeholders -- this opportunity tosecure incremental value exists only so long as the Debtorsmaintain exclusivity. The Debtors tell the Court that the currentPlan is the foundation on which the Debtors are building avalue-maximizing restructuring, and thus, the lapse of exclusivitycould potentially destroy the progress the Debtors have made overthe first three months of these cases and jeopardize the ability ofthe Debtors to secure the benefit of the Capital Commitment.Over the past three months, hand-in-hand with their marketingprocess, the Debtors have diligently pursued confirmation of theircurrent Plan. At the first day hearing in these chapter 11 cases,the Court entered an Order Scheduling Hearings and ObjectionDeadlines with Respect to the Debtors' Disclosure Statement andPlan Confirmation, which provided that the disclosure statementapproval hearing will take place on January 10, 2018 and that theconfirmation hearing will commence on March 26, 2018.The Debtors intend to and are on track to proceed with thosehearing dates. Continuation of their underlying confirmationprocess in no way prejudices the parallel marketing process orreduces the Debtors' desire to continue to considervalue-maximizing alternatives, including, potentially, the Barclaysand Ad Hoc Group proposals. As such, the Debtors assert thatextending exclusivity benefits both the confirmation and marketingprocesses, for the benefit of all stakeholders.The Debtors' exclusivity period to file a plan is currently set toexpire after January 10, 2018. The Debtors submit that granting theextension of their exclusive periods will allow them to continuetoward emergence in an efficient, organized fashion. The Debtorswill use the extended exclusivity periods not only to continue topress forward with confirmation of the Plan, but to continue toanalyze the competing proposals and work with any parties ininterest who do not yet support the Plan in hopes of arriving at aconsensual resolution. About Seadrill LimitedSeadrill Limited is a deepwater drilling contractor, providingdrilling services to the oil and gas industry. It is incorporatedin Bermuda and managed from London. Seadrill and its affiliates ownor lease 51 drilling rigs, which represents more than 6% of theworld fleet.As of Sept. 12, 2017, Seadrill employs 3,760 highly-skilledindividuals across 22 countries and five continents to operatetheir drilling rigs and perform various other corporate functions.As of June 30, 2017, Seadrill had $20.71 billion in total assets,$10.77 billion in total liabilities and $9.94 billion in totalequity.Seadrill reported a net loss of US$155 million on US$3.17 billionof total operating revenues for the year ended Dec. 31, 2016,following a net loss of US$635 million on US$4.33 billion of totaloperating revenues for the year ended in 2015.After reaching terms of a reorganization plan that wouldrestructure $8 billion of funded debt, Seadrill Limited and 85affiliated debtors each filed a voluntary petition for relief underChapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No.17-60079) on Sept. 12, 2017.Together with the chapter 11 proceedings, Seadrill, North AtlanticDrilling Limited ("NADL") and Sevan Drilling Limited ("Sevan")commence liquidation proceedings in Bermuda to appoint jointprovisional liquidators and facilitate recognition andimplementation of the transactions contemplated by the RSA andInvestment Agreement. Simon Edel, Alan Bloom and Roy Bailey ofErnst & Young serve as the joint and several provisionalliquidators.In the Chapter 11 cases, the Company has engaged Kirkland & EllisLLP as legal counsel, HoulihanLokey, Inc. as financial advisor, andAlvarez & Marsal as restructuring advisor. Willkie Farr & GallagherLLP, serves as special counsel to the Debtors. Slaughter and Mayhas been engaged as corporate counsel, and Morgan Stanley serves asco-financial advisor during the negotiation of the restructuringagreement. Advokatfirmaet Thommessen AS serves as Norwegiancounsel. Conyers Dill & Pearman serves as Bermuda counsel. PricewaterhouseCoopers LLP UK, serves as the Debtors' independentauditor; and Prime Clerk is their claims and noticing agent.On September 22, 2017, the Office of the U.S. Trustee appointed anofficial committee of unsecured creditors. The committee hiredKramer Levin Naftalis& Frankel LLP, as counsel; Cole Schotz P.C. aslocal and conflict counsel; Zuill & Co. as Bermuda counsel; QuinnEmanuel Urquhart & Sullivan, UK LLP as English counsel;Advokatfirmaet Selmer DA as Norwegian counsel; and Perella WeinbergPartners LP as investment banker.SHIEK SHOES: U.S. Trustee Appoints 9-Member Creditors' Committee----------------------------------------------------------------U.S. Trustee Peter C. Anderson appointed nine members to theofficial committee of unsecured creditors of Shiek Shoes, LLC. The Committee members are: 1. New World Creation, Inc. c/o Jin U Hwang, President 610 Grand Avenue Ridgefield, NJ 07657 Tel: (201) 337-9100 Fax: (201) 337-9670 Email: firstname.lastname@example.com 2. Hinkle Construction c/o Jackie E. Hinkle, Owner 1905 N. Williams Mesa, AZ 85203 Tel: (480) 835-6886 Fax: (480) 835-6848 Email: email@example.com Cell: (062) 376-0332 3. Adidas America, Inc. c/o Brian Eliasson Senior Manager Credit 685 Cedar Crest Road Spartanburg, SC 29301 Tel: (864) 587-3461 Email: email@example.com 4. VF Outdoor, LLC c/o Darin Newton Director of Credit N850 County Highway CB Appleton, WI 54912 Tel: (920) 735-6849 Email: email@example.com 5. Sports Land Inc. c/o Dundon Advisers LLC PO Box 259H Scarsdale, NY 10583 Tel: (917) 838-1930 Email: firstname.lastname@example.com Attorney: Byung Hui Hwang, Esq. BH Hwang Law Office 1111 Plaza Drive #755 Schaumburg, IL 60173 Tel: (847) 517-3696 Email: firstname.lastname@example.com 6. Nike USA Inc. Attn: Noel Runge One Bowerman Drive Beaverton, OR 97005 Tel: (503) 532-9918 Fax: (503) 395-2762 Email: email@example.com Attorney: Anthony Saccullo, Esq. 27 Crimson King Drive Tel: (302) 836-8877 Fax: (302) 836-8787 Email: firstname.lastname@example.com 7. GGP Limited Partnership 110 North Wacker Driver Chicago, IL 60606 Attn: Julie Minnick Bowden Bankruptcy Manager Tel: (312) 960-2707 Fax: (312) 442-6374 Email: email@example.com Attorney: Ivan Gold, Esq. ALLEN MATKIN LECK GAMBLE & MALLORY, LLP Three Embarcadero Center, 12th Floor San Francisco, CA 94111-4015 Tel: (415) 273-7431 Fax: (415) 837-1516 Email: email@example.com 8. Simon Property Group c/o Ronald Tucker Vice President/Bankruptcy Counsel 225 W. Washington Street Indianapolis, IN 46204 Tel: (317) 263-2346 Fax: (317) 263-7901 Email: firstname.lastname@example.com 9. Macerich Attn: William Palmer AVP Asset Management 1175 Pittsford, Victor Road Rochester, NY 14534 Tel: (585) 249-4421 Email: firstname.lastname@example.com Attorney: Dustin P. Branch, Esq. BALLARD SPAHR LLP 2029 Century Park East, Suite 800 Los Angeles, CA 90067 Tel: (424 204-4354 Email: firstname.lastname@example.com About Shiekh Shoes LLCBased in Ontario, California, Shiekh Shoes, LLC --http://www.shiekhshoes.com/-- is a shoe retailer with 79 locations in California, five in Nevada, 11 in Arizona, 11 in Texas, two inNew Mexico, one in Oregon, six in Illinois, eight in Michigan, andfive in Washington. Shiekh Shoes features brands like Shiekh,Adidas, Puma, Timberland, Converse, among others. It offers dress,casual, athletic, infant, toddler, youth, basketball, running,training, and skate shoes; slippers, sandals, wedges, pumps, boots,high heels, and sneakers; and apparel. The company was founded in1991.Shiekh Shoes sought protection under Chapter 11 of the BankruptcyCode (Bankr. C.D. Calif. Case No. 17-24626) on November 29, 2017. Shiekh E. Ellahi, its chief executive officer, signed thepetition.At the time of the filing, the Debtor disclosed that it hadestimated assets and liabilities of $50 million to $100 million.Judge Vincent P. Zurzolo presides over the case.SINCLAIR'S RESTAURANT: Jan. 23 Plan Confirmation Hearing--------------------------------------------------------Judge Cynthia A. Norton of the U.S. Bankruptcy Court for theWestern District of Missouri conditionally approved the disclosurestatement filed by Sinclair's Restaurant, LLC on November 22,2017.January 23, 2018 at 2:00 p.m. is fixed for the hearing on finalapproval of the disclosure statement and for the hearing onconfirmation of the plan.January 5, 2018 is the deadline for filing objections to thedisclosure statement or plan confirmation, as well as for thesubmission of ballots accepting or rejecting the plan. About Sinclair's RestaurantSinclair's Restaurant, LLC, operates a restaurant at 1402 NWHighway 7, Blue Springs, Missouri. The company sought protectionunder Chapter 11 of the Bankruptcy Code (Bankr. W.D. Mo. Case No.16-43488) on Dec. 27, 2016. The petition was signed by ShaneMiller, member. At the time of the filing, the Debtor estimated assets of less than$50,000 and liabilities of less than $500,000.Colin N. Gotham, Esq., at Evans & Mullinix, P.A., serves as theDebtor's bankruptcy counsel.SIRIUS XM: Ruling to Up Royalty Rate No Impact on Moody's Ba3 CFR-----------------------------------------------------------------Moody's Investors Service said Sirius XM Radio Inc.'s Ba3 CorporateFamily Rating (CFR), existing debt ratings and stable ratingoutlook are not impacted by the Copyright Royalty Board's (CRB)decision on December 14, 2017 to increase the company's statutoryroyalty rate to 15.5% of its gross revenue, which Sirius XM willpay to the record labels and performing artists for soundrecordings and public performances of their songs on its satelliteradio service over the next five years. Headquartered in New York, NY, Sirius XM Radio Inc., is awholly-owned operating subsidiary of Sirius XM Holdings Inc., whichprovides satellite radio services in the United States and Canadathrough a fleet of five owned satellites.SPECTRA7 MICROSYSTEMS: Enters Into Limited Loan Facility Waiver---------------------------------------------------------------Spectra7 Microsystems Inc., a provider of high-performance analogsemiconductor products for broadband connectivity markets on Dec.20 disclosed that it has entered into a limited waiver (the"Waiver") to its US$6,500,000 senior secured term loan facilitywith MidCap Financial (the "Loan Facility"). The Waiver, amongother things and subject to the satisfaction of certain conditionsset forth therein, (i) waives the applicable prepayment fee of 5%pursuant to the Loan Facility, and (ii) reduces the applicable exitfee in relation to the Loan Facility.In consideration for entering into the Waiver, the lender under theLoan Facility has agreed, subject to the conditions set forth inthe Waiver, to surrender to the Company for cancellationoutstanding warrants to purchase up to 1,605,010 common shares inthe capital of the Company ("Common Shares") and the Company hasagreed to issue new warrants to purchase up to 2,205,010 CommonShares (the "Waiver Warrants") with each Waiver Warrant beingexercisable until February 24, 2022 into one Common Share at an exercise price equalto the volume weighted average price of the Common Shares on theToronto Stock Exchange for the 5 days preceding the issue date ofthe Waiver. The transactions contemplated by the Waiver areexpected to occur on closing of the Offering (as defined below),and are subject to the approval of the Toronto Stock Exchange andthe other conditions set forth therein.The Company intends to use a portion of the net proceeds from the$15,000,000 bought deal public offering of units (the "Offering"),as previously announced on December 14, 2017, for the repayment ofthe Loan Facility. The closing of the Offering is scheduled tooccur on or about January 9, 2018. About Spectra7 MicrosystemsSpectra7 Microsystems Inc. -- http://www.spectra7.com/-- is a high performance analog semiconductor company delivering unprecedentedbandwidth, speed and resolution to enable disruptive industrialdesign for leading electronics manufacturers in broadbandconnectivity markets. Spectra7 is based in San Jose, Californiawith design centers in Markham, Ontario, Cork, Ireland, and LittleRock, Arkansas. ST. JOSEPH'S COLLEGE: Moody's Revises Ratings Outlook to Stable---------------------------------------------------------------Moody's Investors Service has revised the outlook for St. Joseph'sCollege (NY) to stable from negative and has affirmed the Ba1 on$25 million of rated debt issued through the Dormitory Authority ofthe State of New York as well as the Ba1 long-term issuer rating.RATINGS RATIONALEThe revision of the outlook to stable is based on the college'simproved fiscal performance and stable enrollment after a period ofenrollment declines and outsized endowment spending. The college'smid-sized operating scale with two campuses (Brooklyn and LongIsland), low debt and demonstrated ability to adapt operationscontribute favorably to its credit quality. Credit challengesinclude a high reliance on student charges in a crowded,competitive market and thin liquidity to cushion potential revenuevolatility.RATING OUTLOOKThe stable outlook is based on expectations of continued stableenrollment and positive operating performance, which will providemodest funds for improved liquidity and strategic investment.FACTORS THAT COULD LEAD TO AN UPGRADE - Significant growth of liquid reserves - Stabilized enrollment combined with continued revenue growth and sustained improvement of operating performanceFACTORS THAT COULD LEAD TO A DOWNGRADE - A return to deficit operations and declining enrollment - Further reduction of already weakened liquidity - Material increase in debt without sustained improved cash flow to support debt service or anticipated financial commitment to privatized student housingLEGAL SECURITYRated debt is a general obligation of the college with a securityinterest in tuition and fees equal to maximum annual debt serviceand a cash-funded debt service reserve fund equal to MADS. Inaddition, DASNY has a mortgage interest on the projects, whichinclude athletic facilities on the Brooklyn and Patchogue campuses,a parking facility at the Brooklyn campus, and certain lab space onthe Patchogue campus, and a security interest in certain fixtures,furnishings and equipment and may assign these interests to thetrustee. Unless the mortgage and security interest are assigned tothe trustee, neither is pledged to bondholders.USE OF PROCEEDSNot applicable.PROFILESt. Joseph's College is a mid-sized private college with campusesin Brooklyn and Long Island. The college enrolled approximately4,500 students in fall 2017 and had fiscal 2017 operating revenueof $86 million.METHODOLOGYThe principal methodology used in this rating was Global HigherEducation published in November 2015. SUNOCO LP: Fitch Keeps BB- Long-Term IDR on Rating Watch Positive-----------------------------------------------------------------Fitch Ratings maintains the Rating Watch Positive on Sunoco, LP(SUN) and Sunoco Finance Corp. Fitch placed the ratings on PositiveWatch in April 2017 after the announcement that SUN would beselling 1,110 convenience stores to 7-Eleven, Inc. (7-Eleven).Total consideration for the transaction is expected to be $3.3billion in cash plus fuel, merchandise and other inventories. SUNexpects to use the proceeds to repay indebtedness and for generalpartnership purposes.The transaction is subject to regulatory clearances and customaryclosing conditions and was expected to close by the fourth quarterof 2017. However, the regulatory process has taken longer thanFitch had expected. Fitch continues to expect that regulatoryclearances will be obtained, and any changes to the April deal as aresult of the regulatory process are not likely to have a materialimpact on SUN's leverage reduction and distribution coverageimprovements.On Dec. 5, 2017 7-Eleven and SUN announced that they remain jointlycommitted to closing "the value-creating transaction" whereby7-Eleven will purchase the large majority of SUN's retail business.The companies believe the transaction to be in the latter stages ofthe regulatory approval process with the Federal Trade Commission.Subject to completion of the regulatory process and customaryclosing conditions, closing should occur in January 2018.The Positive Watch reflects expected improvement in SUN's creditprofile from the sale of most of its convenience store business andthe planned reduction in leverage, provided proceeds are used tostrengthen SUN's balance sheet through at least a partial pay downof debt. Additionally, Fitch believes that the wholesale fuelbusiness, supported in part by a long-term (15-year) fixed ratecontract with 7-Eleven, should generate fairly consistent earningsand cash flows for SUN. Total earnings and cash flow for SUN willbe at lower levels than previously expected, prior to the retailsale, but increased cash flow consistency coupled with management'sstated objective to run the business with a lower leverage(debt/adjusted EBITDA) target of 4.5x to 4.75x and distributioncoverage of 1.1x or higher should result in better capitalized andlower business risk for SUN. Fitch would look to resolve the RatingWatch at or near transaction close in early 2018.Concerns include high levels of competition within the wholesalemotor fuel distribution sector, which is highly fragmented;currently high leverage and low distribution coverage, though thisis expected to be addressed with retail sale proceeds; andexecution risk around the retail sale closing and existing debtreduction.KEY RATING DRIVERSFocus on Wholesale: The sale represents the largest step of atransformational strategy shift for SUN, which will exit the retailside of its business to instead focus on wholesale fueldistribution and other master limited partnership (MLP) qualifyingincome assets. Approximately 200 convenience stores in North andWest Texas, New Mexico and Oklahoma will be converted to acommission agent model whereby a commission agent will operate thestores and SUN will generate rental income from this agent andcapture a material portion of fuel margin less a commission to theagent. After pursuing a possible sale of these 207 stationsmanagement believes the commission agent model to be the bestoption with regard to retained EBITDA for SUN versus after-taxsales proceeds. SUN's Aloha Petroleum business unit in Hawaii willcontinue to operate within SUN.Revenue and Cash Flow Stability: As part of the transaction, SUNwill enter into a 15-year take-or-pay fuel supply agreement with a7-Eleven subsidiary under which SUN will supply approximately 2.2billion gallons of fuel annually. This supply agreement will haveguaranteed annual payments to SUN, provides that 7-Eleven willcontinue to use the Sunoco brand at currently branded Sunocostores, and includes committed growth in future periods. Fitchbelieves that this agreement along with wholesale revenues fromSUN's other distributor, dealer, and commercial channel sales andplanned reductions in selling, general and administrative costsshould provide a stable source of revenue and cash flow generationfor a smaller SUN.Sponsor Relationship: SUN's ratings are largely reflective of itsstand-alone credit profile with no express linkage to its parentcompany. SUN's ratings however do consider its relationship withits sponsor and general partner Energy Transfer Equity, LP (ETE;BB/Stable) as being generally favorable. SUN is part of the EnergyTransfer family of partnerships. It is owned by ETE, which owns100% of SUN's incentive distribution rights and the non-economicgeneral partner interest in SUN. ETE subsidiary and SUN affiliateEnergy Transfer Partners, L.P. (ETP; BBB-/Stable) also owns asignificant amount of SUN's outstanding limited partnership units.Fitch believes SUN's affiliation with ETE and ETP generallyprovides modest benefits to SUN, particularly in providing anoption for financing, like SUN's March 2017 preferred equityoffering, or a potential lever for retaining near-term cash throughdistribution waivers provided by its sponsor or affiliatepartnerships. However, no waivers have been announced or areexpected with the sale of the retail business expected to generateenough proceeds for management to achieve its publicly targetedleverage and coverage goals. These benefits are not typicallyavailable to stand-alone partnerships and ultimately Fitch believesthe affiliation with ETE and ETP helps lessen event financing andoperating risks for SUN.DERIVATION SUMMARYSUN's focus primarily on wholesale motor fuel distribution andlogistics is unique relative to Fitch's other midstream energycoverage. Wholesale fuel distribution tends to be a highlyfragmented market with relatively low operating margins and largelydependent on motor fuel demand which can be seasonal and cyclical.With the sale of its retail business and a portion of the proceedsexpected to be used to pay down its existing indebtedness SunocoLP's leverage should improve to levels more consistent with amid-'BB' rating for midstream energy names. Leverage at SUN isexpected to be in line with other seasonally or cyclically exposedmidstream energy names.SUN's expected 2018 leverage in the 4.5x to 5.0x range isconsistent with 'BB' rated Amerigas Partners, LP which is hadtrailing four quarters leverage at Sept. 30, 2017 of roughly 4.7x,though retail propane demand tends to more seasonally affected thanmotor fuel demand. SUN size and scale is expected to be consistentwith Fitch's targets for 'BB' rated master limited partnerships,which Fitch typically expect to have EBITDA of roughly $500 millionper year.KEY ASSUMPTIONSFitch's Key Assumptions Within Fitch Rating Case for the IssuerClosure of sale of retail businesses to 7-Eleven for $3.3 billionin 1Q18 with net proceeds from the sale used in part to reduceleverage through pay down of existing term loan and some of itsother outstanding debt with a focus on management on successfullylowering leverage to 4.5x to 4.75x and distribution coverage above1.0x.RATING SENSITIVITIESDevelopments That May, Individually or Collectively, Lead toPositive Rating ActionThe successful closure of the sale of the retail business and ameaningful reduction in leverage with a capitalization plan focusedon getting leverage between 4.5x to 5.0x on a sustained basis wouldlikely lead to a one notch upgrade. Leverage between 5.0x and 5.5xon a sustained basis would likely lead to a stabilization of SUN'sOutlook at current ratings levels.Developments That May, Individually or Collectively, Lead toNegative Rating Action -- Deteriorating EBIT margins at or below 1% on a consistent basis could lead to further negative rating action. Deterioration of wholesale fuel margins to below management guided 8 to 9.5 cent per gallon range on a sustained basis. -- Distribution coverage ratio below 1x, combined with leverage ratios above 5.5x on a sustained basis could result in negative rating action.LIQUIDITYLiquidity to Improve: As of Sept. 30, 2017 SUN had $86 million incash and $847 million in availability under its under its $1.5billion revolving credit facility. On Oct. 16, 2017 SUN amended itscredit facility to amended the agreement to permit the dispositionscontemplated by the retail sale, to extend the interest coverageratio covenant of 2.25x through maturity, to modify the definitionof consolidated EBITDA to include projected margins from theminimum gallons to be purchased under any fuel supply contractentered into in connection with the 7-Eleven transaction, and tomodify the leverage ratio covenants.In the event no disposition is consummated, SUN must maintain thefollowing leverage ratios as of the last day of each fiscalquarter: -- As of Dec. 31, 2017: not more than 6.75x; -- As of March 31, 2018: not more than 6.50x; -- As of June 30, 2018: not more than 6.25x; -- As of Sept. 30, 2018: not more than 6.0x; -- As of Dec. 31, 2018: not more than 5.75x; -- Thereafter: not more than 5.5x.In the event that a disposition of the 7-Eleven Assets or thedisposition of the West Texas Assets (but not both of them) hasbeen consummated, SUN must maintain the following leverage ratiosas of the last day of each fiscal quarter: -- As of Dec. 31, 2017: not more than 6.0x; -- As of March 31, 2018: not more than 5.75x; -- As of June 30, 2018: not more than 5.5x; -- As of Sept. 30, 2018: not more than 5.5x; -- As of Dec. 31, 2018: not more than 5.5x; -- Thereafter: not more than 5.5x.In the event both the dispositions of the 7-Eleven Assets and thedisposition of the West Texas Assets have been consummated, SUNmust maintain the following leverage ratios as of the last day ofeach fiscal quarter: -- As of Dec. 31, 2017: not more than 5.75x; -- As of March 31, 2018: not more than 5.75x; -- As of June 30, 2018: not more than 5.5x; -- As of Sept. 30, 2018: not more than 5.5x; -- As of Dec. 31, 2018: not more than 5.5x; -- Thereafter: not more than 5.5x.Notwithstanding the foregoing, if a specified acquisition period isin effect at any time that the maximum leverage ratio wouldotherwise be 5.5x, such maximum leverage ratio shall be 6.0x. As ofSept. 30, 2017 SUN was in compliance with its covenants, and Fitchbelieves that SUN will remain in compliance with its covenantsprovided the 7-Eleven sale closes in the 1Q 2018.FULL LIST OF RATING ACTIONSFitch maintained the following ratings on Rating Watch Positive:Sunoco, LP -- Long-Term Issuer Default Rating (IDR) 'BB-'; -- Senior secured rating 'BB/RR1'; -- Senior unsecured rating 'BB-/RR4'.Sunoco Finance Corp. -- Senior unsecured rating 'BB-/RR4'.SURFACE DRILLING: Taps Coskey as Land Title Consultant------------------------------------------------------Surface Drilling of Texas, LLC seeks approval from the U.S.Bankruptcy Court for the Western District of Texas to hire CoskeyLand Services, LLC as land title consultant.The firm will assist the Debtor in determining the ownership ofcertain working interests and liens to several oil and gas wells orleasehold estates, which it drilled prior to the petition date andfor which it was not paid.The firm will charge $450 per day for its services.Coskey has no connection with the Debtor or any of its creditors,according to court filings.The firm can be reached through: Lana Cox Coskey Coskey Land Services, LLC 1916 W. Old Tyler Highway Troup, TX 75789 Tel: (903) 625-0765) About Surface Drilling of TexasSurface Drilling sought protection under Chapter 11 of theBankruptcy Code (Bankr. W.D. Tex. Case No. 17-70155) on Sept. 19,2017. Tyson Cornwell, manager, signed the petition. The Debtordisclosed $1.24 million in assets and $2.39 million inliabilities.Founded in 2013, Surface Drilling of Texas, LLC, provides drillingservices to the energy industry. It is a small business debtor asdefined in 11 U.S.C. Section 101(51D), posting gross revenue of $4million in 2016 and gross revenue of $2.14 million in 2015.Judge Tony M. Davis presides over the case. Todd J. Johnston,Esq., at McWhorter Cobb & Johnson, LLP, in Lubbock, Texas, servesas counsel to the Debtor.SURFACE DRILLING: Taps Leah Craig as Accountant-----------------------------------------------Surface Drilling of Texas, LLC seeks approval from the U.S.Bankruptcy Court for the Western District of Texas to hire LeahCraig as its accountant.Ms. Craig will generally assist the Debtor with procuringinformation and records needed for the administration of itsChapter 11 case. She will charge $115 per hour for her services.Ms. Craig has no connection with the Debtor or any of itscreditors, according to court filings.Ms. Craig maintains an office at: Leah Craig, E.A. 2030 W. Cuthbert, Suite 4 Midland, TX 79701 Tel: (432) 664-4949 Fax: (432) 684-9203 About Surface Drilling of TexasSurface Drilling sought protection under Chapter 11 of theBankruptcy Code (Bankr. W.D. Tex. Case No. 17-70155) on Sept. 19,2017. Tyson Cornwell, its manager, signed the petition. TheDebtor disclosed $1.24 million in assets and $2.39 million inliabilities.Founded in 2013, Surface Drilling of Texas, LLC, provides drillingservices to the energy industry. It is a small business debtor asdefined in 11 U.S.C. Section 101(51D), posting gross revenue of $4million in 2016 and gross revenue of $2.14 million in 2015.Judge Tony M. Davis presides over the case. Todd J. Johnston,Esq., at McWhorter Cobb & Johnson, LLP, in Lubbock, Texas, servesas counsel to the Debtor.SUTTON LUMBER: Unsecureds to Get $1,000 Monthly Plus 4.25%----------------------------------------------------------Sutton Lumber Co., Inc. filed a disclosure statement for its thirdamended plan of reorganization dated November 29, 2017 with theU.S. Bankrupty Court for the Northern District of Georgia.Each holder of a general unsecured claim shall share pro-rata inmonthly payments of $1,000.00 until paid in full plus interestaccruing at the annual rate of 4.25% annually.The following tax claims shall be paid in equal monthly paymentscommencing on the 28th day of the first full month following theeffective date and continuing by the 28th day of each subsequentmonth (or the next business day if the 28th day is not a businessday). Interest shall accrue on the principal amount due from theeffective date at the annual rate specified or such lesser rate as(i) agreed to by the tax claimant or (ii) indicated on theapplicable proof of claim. Notwithstanding anything to the contraryherein, debtor shall pay the balance of the allowed tax claim witha balloon payment on the 5-year anniversary of the filing date(i.e. February 1, 2021) unless the tax claimant agrees to a longerpayment term, which such agreement may be communicated by the taxclaimant continuing to accept monthly payments after February 1,2021. Tax Claimant Tax Claim Monthly Annual Payment Interest ----------------------- ----------- ------- -------- Internal Revenue $671,672.10 $3,000 3% Service (IRS) Georgia Department $253,824.40 $500 7% of Revenue (GDR) Georgia Department $47,682.05 $500 6.5% of Labor (GDL) Murray County Tax $18,913.88 $500 6.5% CommissionerThe general unsecured tax claims of the IRS and the GDR, in theamount of $180,160.49 and $19,199.03, respectively, arespecifically classified as and will be paid pursuant to the generalunsecured Class.Debtor shall pay the allowed secured claim to First Bank of Dalton(i) at the rate of $12,000.00 per month commencing on the 28th dayof the first full month following the effective date (or the nextbusiness day if the 28th does not fall on a business day) andcontinuing by the 28th day of each subsequent month for a total of12 months and (ii) increasing to $15,000.00 per month on the 28thday of the 13th full month through the 60th full month followingthe effective date (or the next business day if the 28th does notfall on a business day (iii) a final payment (i.e. a balloonpayment) on the 28th day of the 61st full month following theeffective date. Interest shall accrue on the principal balance ofthe secured claim at the annual rate of 5.25%.In the alternative, the First Bank of Dalton may also opt to letthe Debtor surrender all its rights and interests in the First Bankof Dalton collateral by execution of a quit claim deed in favor ofFirst Bank of Dalton in complete satisfaction of and for a creditin the amount of the secured claim. The source of funds for the payments pursuant to the plan is (1) the continued operation of the sawmill, chip plant, planning mill and power plant, and (2) sale, leasing or refinancing of Debtor's assets and business segments. A full-text copy of Sutton Lumber's disclosure statement isavailable at: http://bankrupt.com/misc/ganb16-40233-110.pdf About Sutton LumberHeadquartered in Tennga, Georgia, Sutton Lumber Co., Inc., operatesa sawmill, planning mill, chip mill and power plant located onproperty owned by the Debtor. At the sawmill, the Debtor convertslogs that it purchases from third parties into lumber. At theplanning mill, the Debtor takes cut and seasoned boards or lumberfrom the sawmill and turns them into finished, smoothed,dimensional lumber for various uses by its customers. At the chipmill, the Debtor grinds whole logs into wood chips for use in paperfor the Debtor's customers. At the power plant, the Debtorgenerates power which it uses to run its operations and sells theexcess power to the Tennessee Valley Authority. The Debtor isowned by Harold Sutton and Doyle Sutton. The Debtor filed for Chapter 11 bankruptcy protection (Bankr. N.D.Ga. Case No. 16-40233) on Feb. 1, 2016, estimating its assets at upto $50,000 and its liabilities at between $1 million and $10 million. The petition was signed by Harold Sutton, president. Judge Paul W. Bonapfel presides over the case. Leslie M. Pineyro, Esq., at Jones And Walden, LLC, serves as theDebtor's bankruptcy counsel.TERRAVIA HOLDINGS: Exclusive Plan Filing Period Moved to Feb. 28----------------------------------------------------------------The Hon. Christopher S. Sontchi of the U.S. Bankruptcy Court forthe District of Delaware has extended the exclusive period forTerraVia Holdings, Inc. (formerly known as Solazyme, Inc.) andcertain of its subsidiaries to file and to solicit acceptance of aChapter 11 Plan by approximately 90 days through and includingFebruary 28 and April 30, 2018, respectively.The Troubled Company Reporter has previously reported that theDebtors asked the Court for a 90-day extension of the exclusiveperiods.Following the consummation of the sale transactions on September 26and 28, 2017, the Debtors have pursued to wind down these Chapter11 Cases through a plan confirmation process. The Debtors claimedthat closing the Sales require the focused effort of theirworkforce and professionals.On October 31, 2017, the Debtors filed the Combined DisclosureStatement and Chapter 11 Plan of Liquidation Proposed by theDebtors.Since the closing date, the Debtors have devoted significant timeand effort to assisting with the transition of the assets to thepurchasers in as seamless a manner as possible. The Debtors havealso taken numerous other steps to conclude these Chapter 11 Cases,including, but not limited, (a) establishing a bar date for filingproofs of claim, and (b) rejecting the non-residential realproperty lease of their headquarters.Most significantly, the Debtors have recently obtained interimapproval from the Court of the Combined Disclosure Statement andPlan for solicitation purposes only. The Court has scheduled ahearing to consider confirmation of the Combined DisclosureStatement and Plan for January 8, 2018.The Debtors, however, said they require additional time to pursueconfirmation of the Combined Disclosure Statement and Plan beyondthe 60 days currently afforded under the initial ExclusiveSolicitation Period, and to address any unforeseen delaysexperienced in connection with such efforts.The Debtors claimed that the requested extensions will give themfull and fair opportunity to complete their solicitation andconfirmation process without the distraction, cost and delay of acompeting plan process. About TerraViaHeadquartered in South San Francisco, California, TerraViaHoldings, Inc. (NASDAQ:TVIA) -- http://www.terravia.com/-- is a plant-based food, nutrition and specialty ingredients company thatharnesses the power of algae, the mother of all plants and earth'soriginal superfood. TerraVia also manufactures a range ofspecialty personal care ingredients for key strategic partners.On Aug. 2, 2017, TerraVia Holdings, Inc., and its wholly-owned U.S.subsidiaries filed voluntary petitions under chapter 11 of title 11of the United States Code (Bankr. D. Del. Lead Case No. 17-11655). The subsidiary debtors in the Chapter 11 cases are Solazyme BrazilLLC and Solazyme Manufacturing 1, LLC.The Debtors sought bankruptcy protection after reaching a deal tosell the assets to Corbion N.V. for $20 million in cash plus theassumption of liabilities.The Debtors hired Davis Polk & Wardwell LLP as their lead counseland Richards, Layton & Finger, P.A., as co-counsel. KurtzmanCarson Consultants LLC is the Debtors' claims agent.No official committee of unsecured creditors has been appointed inthe Chapter 11 case.UNILIFE CORP: Court Confirms Plan of Liquidation------------------------------------------------BankruptcyData.com reported that the U.S. Bankruptcy Courtconfirmed Unilife's First Amended Combined Disclosure Statement andChapter 11 Plan of Liquidation, which notes, "This Combined planand Disclosure Statement contemplates the creation of a LiquidationTrust from which, pursuant to the terms of this Combined Plan andDisclosure Statement and the Liquidation Trust Agreement,distributions shall be made for the benefit of holders of variousallowed claims. On or as soon as practicable after the EffectiveDate, the Debtors shall pay the administrative expense claimsallowed as of the effective date, fund the professional fee reserveand the wind down Reserve, and transfer the Liquidation TrustFunding amount to the Liquidation Trustee. This Combined Plan andDisclosure Statement provides for the liquidation of the Debtorsunder chapter 11 of the Bankruptcy Code. Although a case underchapter 7 of the Bankruptcy Code would also entail the Debtors'liquidation, the Debtors believe that their liquidation underchapter 7 would be costlier and more time-consuming than theprocess provided for herein and, as a result, Creditors would bedisadvantaged were a chapter 7 liquidation to be pursuedinstead….Further, any distribution to Creditors in a chapter 7case is likely to be delayed due to time necessary for the trusteeand his or her advisors to get 'up to speed' and the absence ofcertain deadlines imposed by the plan. Accordingly, the Debtorsbelieve that in a chapter 7 liquidation, holders of claims andequity interests would receive less than such holders would receiveunder the Combine Plan and Disclosure Statement." About Unilife CorporationUnilife Corporation -- http://www.unilife.com-- is a U.S.-based developer and commercial supplier of injectable drug deliverysystems. Unilife has a portfolio of innovative, differentiatedproducts with a primary focus on wearable injectors. Productswithin each platform are customizable to address specific customer,drug and patient requirements. Unilife Corporation filed a Chapter 11 bankruptcy petition (Bankr.S.D.N.Y. Case No. 17-10805) on April 12, 2017. John Ryan, chiefexecutive officer, signed the petition. The Debtor disclosed total assets of $82.98 million and totalliabilities of $201.0 million as of the bankruptcy filing.The Hon. Laurie Selber Silverstein presides over the case. Cozen O'Connor serves as counsel to the Debtor.An official committee of unsecured creditors has been appointed inthe case. The panel retained Lowenstein Sandler LLP as counsel.UNITY COURIER: Exclusive Solicitation Period Extended to April 26-----------------------------------------------------------------The Hon. Ernest M. Robles of the U.S. Bankruptcy Court for theCentral District of California has extended Unity Courier Service,Inc.'s exclusive period to obtain acceptances of its plan ofreorganization to and including April 26, 2018.As reported by the Troubled Company Reporter on Dec. 5, 2017, theDebtor sought the extension, stating that it timely filed its Planand Disclosure Statement prior to the expiration of the filingdeadline, it believes the Disclosure Statement may requireamendment, and therefore, it may need additional time to amend theDisclosure Statement and Plan, and timely comply with allapplicable rules pertaining to the confirmation of the Plan. About Unity Courier ServiceUnity Courier Service, Inc., is a courier services provider. Itdelivers individually addressed letters, parcels, and packages tocustomers in the United States.Unity Courier Service sought Chapter 11 protection (Bankr. C.D.Cal. Case No. 17-13943) on March 31, 2017, estimating assets andliabilities in the range of $1 million to $10 million. Thepetition was signed by Larry Lum, its president.Judge Ernest M. Robles is assigned to the case.The Debtor employed Ira Benjamin Katz, a professional corporation,and the Law Offices of David W. Meadows as general bankruptcycounsel.US DATAWORKS: Plan Effective Data Announced-------------------------------------------BankruptcyData.com reported that US Dataworks announced inmid-December that its Combined Disclosure Statement and Plan ofLiquidation is now effective and that the Company has emerged fromChapter 11 protection. The U.S. Bankruptcy Court confirmed thePlan on November 29, 2017; however, an effective date notice hasnot been docketed. In accordance with the terms of the Plan, alloutstanding shares of the Company's common stock are cancelled andwill receive no distributions under the Plan. BankruptcyData'sdetailed Plan Summary notes, "The Plan proposes to pay creditors ofthe Debtor from the proceeds of the sale of substantially all ofthe Debtor's assets. Debtor believes that the proposed financingand other relief sought will enable the Debtor and its stakeholdersto implement an orderly Liquidation through its chapter 11bankruptcy case. On July 20, 2017, the Debtor sold its businessassets to a subsidiary of Bankers Bancorp of Oklahoma, Inc. Theprice for the assets to be purchased is $1,790,000." About US DataworksHeadquartered in Sugar Land, Texas, US Dataworks, Inc. (otcpinksheets:UDWK) -- http://www.usdataworks.com/-- is a software and technology provider serving the financial services sector. Itsboard of directors currently consists of two directors -- JohnPenrod and Joe Saporito. Mr. Penrod is also the Debtor's CEO andpresident who has been with the company since 2010. Mr. Saporitois the CAO for Rackspace Managed Hosting.US Dataworks filed a Chapter 11 petition (Bankr. S.D. Tex. Case No.17-32765) on May 1, 2017. Mr. Penrod signed the petition. At thetime of filing, the Debtor disclosed $2.67 million in assets and$3.98 million in liabilities.No trustee or examiner has been appointed in the case.The case is assigned to Judge Jeff Bohm. Wayne Kitchens, Esq., at Hughes Watters Askanase LLP, is theDebtor's bankruptcy counsel. The Debtor hired Loftis Law Firm asspecial corporate, securities and outside general counsel.UW OSHKOSH FOUNDATION: Needs Until June 2018 to File Exit Plan--------------------------------------------------------------The University of Wisconsin Oshkosh Foundation, Inc. requests theU.S. Bankruptcy Court for the Eastern District of Wisconsin toextend each of the exclusive periods, by approximately 183 days, toJune 16, 2018, for filing a chapter 11 plan and August 15, 2018, tosolicit acceptances of such plan.The Debtor claims that its case is complex case requiring certainissues to be determined prior to the Debtor and creditors making anintelligent decision on how the case should proceed. Currently,there are three adversary proceedings which, when adjudicated, willdictate the contents and tenor of a proposed Chapter 11 Plan.The Debtor tells the Court that if it is successful in itsAdversary Proceeding to enforce the guaranties by the University ofWisconsin Board of Regents of the obligations to its majorcreditors, the case may very well be resolved and dismissed. Onthe other hand, if the Debtor does not prevail in that AdversaryProceeding, then a Plan of Reorganization will have to bedetermined within the parameters of Chapter 11 of the BankruptcyCode. The second Adversary Proceeding would then govern as to therequired terms of such a Plan of Reorganization.The Debtor further tells the Court that if the endowment andrestricted funds held by the Debtor are determined to be held intrust, and those assets are not subject to the creditors' claimsand a Plan would pay all of net equity of the Debtor's assets toits creditors, then Debtor would be discharged of any furtherobligation, allowing it to continue its charitable purpose.Moreover, one of the assets owned by the Debtor -- the AlumniWelcome Conference Center -- which was transferred to the Debtorconsistent with terms contained in the loan documents prior to thefiling of the bankruptcy, has been used by the University ofWisconsin-Oshkosh for some years with no monetary compensationother than maintenance and repair of the building.The Debtor submits that significant issues would have to benegotiated or litigated with regard to the value conferred to theUniversity by the use of the building which has been continuouslyowned either by a wholly-owned LLC of the Debtor or, since justprior to the bankruptcy filing, the Debtor outright. In this event,creditors would rightly want to determine the fair value of the useof the facility, less any costs of operation, and thus seekcompensation which would ultimately be paid to unsecured creditorsin this case.As such, the Debtor asserts that the complexities of this casejustify an extension of the Debtor's exclusive periods. The Debtorasserts that the specific terms of such a Plan – either theliquidation and/or valuation of significant assets owned by theDebtor or in LLCs in which the Debtor is either the sole or partialowner of assets -- would likely be negotiated with the variouscreditors in order to maximize the return to creditors, which isthe goal of the Debtor in this case. About University of Wisconsin Oshkosh Foundation Inc.Established in 1963, the University of Wisconsin Oshkosh Foundation-- https://www.uwosh.edu/foundation -- was created to promote,receive, invest and disburse gifts to meet the goals and needs ofthe University of Wisconsin Oshkosh. Its offices are located inthe Alumni Welcome and Conference Center along the Fox River.UW Oshkosh Foundation is a separate and distinct legal entity fromUW Oshkosh and qualifies as a tax-exempt 501(c)(3) organizationunder the United States Internal Revenue Code. It owns a feesimple interest in the Alumni Welcome & Conference Center locatedat 625 Pearl Avenue, Oshkosh, valued at $11.8 million. It is alsoa fee simple owner of a residence located at 1423 Congress Avenue,Oshkosh, with a current value of $375,000.The Debtor sought protection under Chapter 11 of the BankruptcyCode (Bankr. E.D. Wis. Case No. 17-28077) on Aug. 17, 2017. Timothy C. Mulloy, chairman of the Board, signed the petition.At the time of the filing, the Debtor disclosed $14.84 million inassets and $15.87 million in liabilities.Judge Susan V. Kelley presides over the case. The Debtor hiredSteinhilber Swanson LLP as its bankruptcy counsel; Martin Cowie asits chief financial officer; and CliftonLarsonAllen as itsaccountant.VERMEIL LLC: Jan. 16 Plan Confirmation Hearing----------------------------------------------Judge Elizabeth S. Stong of the U.S. Bankruptcy Court for theEastern District of New York conditionally approved the thirdamended disclosure statement filed by The Vermeil LLC and Sterling& Seventh LLC on November 21, 2017.January 17, 2018 is fixed as the last day for filing writtenacceptances or rejections of the Plan.A hearing on final approval of the amended disclosure statement andon confirmation of the plan is set for January 16, 2018. December 22, 2017 is fixed as the last day for filing and servingwritten objections to the disclosure statement and confirmation ofthe plan. About The Vermeil LLCHeadquartered in Brooklyn, New York, The Vermeil LLC filed forchapter 11 bankruptcy protection (Bankr. E.D.N.Y. Case No.15-44136) on Sept. 8, 2015, listing its estimated assets at $1million to $10 million and estimated liabilities at $1 million to$10 million. The petition was signed by Jacob Pinson, managingmember.VIDANGEL INC: Taps Stris & Maher as Counsel in Appellate Case-------------------------------------------------------------VidAngel, Inc. seeks approval from the U.S. Bankruptcy Court forthe District of Utah to hire Stris & Maher LLP as special counsel.The firm will represent the Debtor in its pending appeal to theNinth Circuit, where it is seeking reversal of the Californiadistrict court's order in a case filed by Disney Enterprises, Inc.(Case No. CV 16-04109).Stris & Maher has agreed to handle the appeal for a $75,000 initialflat fee. If the firm succeeds in reversing the district court'sdismissal of one or more of the claims being appealed, it will beentitled to an additional $275,000 bonus.Stris & Maher does not hold any interest adverse to the Debtor,according to court filings.The firm can be reached through: Peter K. Stris, Esq. Douglas D. Geyser, Esq. Victor O'Connell, Esq. Stris & Maher LLP 725 S. Figueroa St., Suite 1830 Los Angeles, CA 90017 Tel: (213) 995-6800 Fax: (213) 261-0299 Email: firstname.lastname@example.com Email: email@example.com Email: firstname.lastname@example.com About VidAngel Inc.VidAngel is an entertainment platform empowering users to filterlanguage, nudity, violence, and other content from movies and TVshows on modern streaming devices such as iOS, Android, and Roku. The company's newly launched service empowers users to filter viatheir Netflix, Amazon Prime, and HBO on Amazon Prime accounts, aswell as enjoy original content produced by VidAngel Studios. Itssignature original series, Dry Bar Comedy, now features the world'slargest collection of clean standup comedy, earning rave reviewsfrom fans nationwide.VidAngel, Inc., based in Provo, Utah, filed a Chapter 11 petition(Bankr. D. Utah Case No. 17-29073) on October 18, 2017.In its petition, the Debtor estimated $1 million to $10 million inboth assets and liabilities. The petition was signed by NealHarmon, its chief executive officer.Judge Kevin R. Anderson presides over the case.J. Thomas Beckett, Esq., at Parsons Behle & Latimer, serves asbankruptcy counsel. The Debtor hired Durham Jones & Pinegar andBaker Marquart LLP as its special counsel; and Tanner LLC as itsauditor and advisor. The Debtor also hired economic consultingexpert Analysis Group, Inc.VIRGINIA HIGH TECH: Exclusive Plan Filing Period Moved to Feb. 4----------------------------------------------------------------Judge M. Flatley of the U.S. Bankruptcy Court for the NorthernDistrict of West Virginia extended the time period within whichWest Virginia High Technology Consortium Foundation and HTFoundation Holdings, Inc. will have the exclusive right to file andsolicit acceptance of a plan of reorganization to February 4 andApril 4, 2018, respectively.The extension is consented to by Huntington National Bank, throughits counsel: Christopher P. Schueller, Esq. Buchanan Ingersoll & Rooney, LLP 301 Grant Street, 20th Floor One Oxford Centre Pittsburgh, PA 15219 Telephone: (412) 562-8800 Facsimile: (412) 562-1041The Troubled Company Reporter has previously reported that theDebtors requested an extension of the exclusivity period tocontinue to work with creditors toward an amicable resolution ofany claims and toward confirmation of the Second Amended Plan ofReorganization.Since the Petition Date, the Debtors spent much of the first fewmonths attempting to stabilize their operations and negotiating ingood faith with Huntington regarding potential restructuringoptions. Once the negotiations with Huntington broke down in lateSeptember, the Debtors immediately considered their reorganizationoptions and formulated a Plan of Reorganization.On December 2, 2016, the Debtors filed a Plan of Reorganization andDisclosure Statement. However, on January 12, 2017, Huntingtonfiled an objection to the Disclosure Statement.After Huntington filed an Objection to the original DisclosureStatement, the Debtors filed a First Amended Joint DisclosureStatement and First Amended Joint Plan of Reorganization onFebruary 3, 2017. The First Amended Plan and Disclosure Statementwere filed in an attempt to address the objections raised byHuntington in its objection to the original Disclosure Statement.Again, Huntington filed an objection to the First Amended JointDisclosure Statement.Since that date, the Debtors and Huntington have resolved theDebtors' Motion to Surcharge Huntington's Collateral and theDebtors' Complaint to Determine the Secured Status of Huntington.The resolutions of both matters were essential to the Debtors'ability to formulate a revised plan of reorganization andcorresponding disclosure statement.The Debtors have also negotiated a sale of the Training Center,which sale was approved by the Court on July 25, 2017. The saleclosed on August 31, 2017.The Debtors filed their Second Amended and Plan and Second AmendedDisclosure on August 1, 2017, which intended to address variousissues raised by Huntington and the Court. While the confirmationhearing on the Second Amended Plan was originally scheduled forDecember 11, the Court -- at the request of the Debtors andHuntington -- rescheduled the confirmation hearing for February 22,2018.The Debtors said that they have continued to work toward a plan ofreorganization acceptable to all creditors, in good faith and inthe best interest of creditors. About West Virginia High TechWest Virginia High Technology Consortium Foundation and HTFoundation Holdings, Inc. filed chapter 11 petitions (Bankr. N.D.W.Va. Lead Case No. 16-00806) on Aug. 4, 2016. The petitions weresigned by James L. Estep, their president and CEO.In their petitions, the Debtors estimated $10 million to $50million in both assets and liabilities.Judge Patrick M. Flatley presides over the cases. David B.Salzman, Esq., at Campbell & Levine, LLC serves as bankruptcycounsel. The Debtors employed Rolston & Company as real estateappraiser; Easter Valley, LLC as real estate broker; and ArnettCarbis Toothman, LLP as accountants.On December 2, 2016, the Debtors filed their Chapter 11 plan ofreorganization and disclosure statement.WCD LLC: Case Summary & 20 Largest Unsecured Creditors------------------------------------------------------Debtor: WCD, LLC dba Wildcat Development 230 Spring Hill Drive, Suite 300-305 Spring, TX 77386Type of Business: Wildcat Development -- http://www.wildcatdev.com -- is an end-to-end technology company with teams of mechanical, electrical, and software engineers that provides an integrated and customized solutions for the energy and high- tech industries. The company's team of engineers have years of involvement and experience in prototype 3D printing, custom control systems, prototype development, schematic design, PCB design and layout, PLC & microprocessor programming, application development, SQL database design, mechanical design, and web development & integration. The company is headquartered in Spring, TX.Chapter 11 Petition Date: December 21, 2017Case No.: 17-36817Court: United States Bankruptcy Court Southern District of Texas (Houston)Judge: Hon. Jeff BohmDebtor's Counsel: Larry A. Vick, Esq. LARRY A. VICK 10497 Town & Country Way, Suite 700 Houston, TX 77024 Tel: 713-239-1062 Fax: 832-202-2821 E-mail: firstname.lastname@example.com Assets: $787,962Total Liabilities: $1,030,000The petition was signed by Stuart Williams, member.A full-text copy of the petition, along with a list of 20 largestunsecured creditors, is available for free athttp://bankrupt.com/misc/txsb17-36817.pdfWESTERN EXPRESS: Moody's Withdraws B2 CFR & $250MM Loan Rating--------------------------------------------------------------Moody's Investors Service has withdrawn all ratings of WesternExpress, Inc. ("Western Express"), including the B2 CorporateFamily Rating and the B2 rating of the $250 million term loan thatthe company planned to arrange.RATINGS RATIONALEThe rating action follows the decision by Western Express not toproceed with the planned $250 million term loan at this time.Withdrawals:Issuer: Western Express, Inc. -- Corporate Family Rating, Withdrawn, previously rated B2 -- Probability of Default Rating, Withdrawn, previously rated B2- PD -- Senior Secured Bank Credit Facility, Withdrawn , previously rated B2 (LGD3)Outlook Actions:Issuer: Western Express, Inc. -- Outlook, Changed To Rating Withdrawn From StableWestern Express, Inc., headquartered in Nashville, TN, is atruckload carrier that operates in the dry van and flatbed segmentsof the transportation market, serving a diverse range ofend-markets. The company generates annual revenue of about $550million and is privately owned by the family of the founder and bymanagement.WJA ASSET: May Retain Consultants & Use Funds to Pay Various Fees-----------------------------------------------------------------Judge Scott C. Clarkson of the U.S. Bankruptcy Court for theCentral District of California authorized Luxury Asset PurchasingInternational, LLC, and its three members, 5827 Winland Hills DriveDevelopment Fund, LLC, TD REO Fund, LLC, and CA Real EstateOpportunity Fund III, LLC, (i) to use Luxury's interest in 9.42acres of real property located at 5827 Winland Hills Drive and SanDieguito Road in San Diego, California, and subdivide the parceland develop the project into three separate parcels, one for anestate-sized home and the other two for a senior housing facility;(ii) to enter into contracts with various third parties, includingan architectural firm specializing in senior housing, a landscapearchitect, a soil engineer, and a land surveyor to provide servicesthat will be necessary for the entitlements process; and (iii) touse funds that are property of their respective bankruptcy estatesto pay the fees, which are estimated to collectively total no morethan $392,250. Luxury is authorized to retain the Consultants and to enter intoappropriate agreements with them and, in the case of DouglasPancake Architects and to the extent that the existing contract maybe deemed to be an executory contract, to assume that contractunder 11 U.S.C. Section 365 with no cure payment required.The Luxury Members are authorized to pay up to $392,250 in feesthat may be due the Consultants and the City and County of SanDiego, with the amount of the payments based on their respectiveownership interests in Luxury; and to the extent that 5827 Winlanddoes not have sufficient funds to pay its pro rata share, the othertwo Luxury Members are authorized to fund 5827 Winland's share viainterest-free loans to Luxury. About WJA Asset ManagementLuxury Asset Purchasing International, LLC, et al., are part of anetwork of entities or "Funds" formed to offer a range ofinvestment opportunities to individuals. Many of the existingFunds are performing and some Funds had substantial gains. However, certain Funds, i.e., those invested in private trust deedssecured by real estate, suffered losses.William Jordan Investments, Inc. ("Advisor"), is a registeredinvestment advisor. Laguna Hills, California-based WJA AssetManagement, LLC ("Manager"), is the managing member of Luxury, etal. William Jordan was the president and sole owner of Advisor andwas the sole member and manager of Manager.On May 18, 2017, Luxury and its affiliates filed voluntarypetitions under Chapter 11 of the United States Bankruptcy Code. On May 25, 2017, four other affiliated filed voluntary Chapter 11petitions. On June 6, CA Real Estate Opportunity Fund III filedits Chapter 11 petition. The Debtors' cases are jointlyadministered under Bankr. C.D. Cal. Lead Case No. 17-11996, andthe Debtors continue to operate their businesses and manage theiraffairs as DIP.Pursuant to court orders, Howard Grobstein is now serving as thechief restructuring officer of the Debtors and Mr. Jordan no longerhas any ongoing role in the Debtors' operations.At the time of the filing, WJA estimated assets of less than$500,000 and liabilities of $1 million to $10 million.Judge Scott C. Clarkson presides over the cases.Lei Lei Wang Ekvall, Esq., Philip E. Strok, Esq., Robert S.Marticello, Esq., and Michael L. Simon, Esq., at SmileyWang-Ekvall, LLP, serve as counsel to the Debtors. WOODBRIDGE GROUP: U.S. Trustee Appoints 3-Member Committee----------------------------------------------------------Andrew R. Vara, U.S. Trustee for Region 3, appointed three membersto the official committee of unsecured creditors of WoodbridgeGroup of Companies, and its debtor affiliates.The Committee members are: 1. G3 Group LA, Inc. 2500 Townsgate Road, Suite F Westlake Village, CA 91361 Phone: 805-557-1075 Fax: 805-557-1097 2. Ronald E. Myrick Sr. 9332 Avian Dr., Apt. 201 Fort Meyers, FL 33913 3. John J. O'Neill 4600 Hwy AIA # 2111 Vero Beach FL 32693The Committee is represented by: Bradford J. Sandler, Esq. Richard M. Pachulski, Esq. James I. Stang, Esq. Jeffrey N. Pomerantz, Esq. Bradford J. Sandler, Esq. Colin R. Robinson, Esq. PACHULSKI STANG ZIEHL & JONES LLP 919 North Market Street, 17th Floor P.O. Box 8705 Wilmington, DE 19899 Telephone: 302-652-4100 Facsimile: 302-652-4400 E-mail: firstname.lastname@example.com email@example.com firstname.lastname@example.com email@example.com firstname.lastname@example.com About Woodbridge GroupHeadquartered in Sherman Oaks, California, The Woodbridge GroupEnterprise -- http://www.woodbridgecompanies.com/-- is a comprehensive real estate finance and development company. Itsprincipal business is buying, improving, and selling high-endluxury homes. The Woodbridge Group Enterprise also owns andoperates full-service real estate brokerages, a private investmentcompany, and real estate lending operations. The Woodbridge GroupEnterprise and its management team have been in the business ofproviding a variety of financial products for more than 35 years,and have been primarily focused on the luxury home business for thepast five years. Since its inception, the Woodbridge GroupEnterprise has completed more than $1 billion in financialtransactions. These transactions involve real estate, note buyingand selling, hard money lending, and alternative financialtransactions involving thousands of investors.Woodbridge Group of Companies and certain of its affiliates filedChapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No.17-12560) on Dec. 4, 2017. Woodbridge estimated assets andliabilities at between $500 million and $1 billion.Judge Kevin J. Carey presides over the case.Samuel A. Newman, Esq., Oscar Garza, Esq., Daniel B. Denny, Esq.,Jennifer L. Conn, Esq., Eric J. Wise, Esq., Matthew K. Kelsey,Esq., and Matthew P. Porcelli, Esq., at Gibson, Dunn & Crutcher,LLP, and Sean M. Beach, Esq., Edmon L. Morton, Esq., Ian J.Bambrick, Esq., and Allison S. Mielke, Esq., at Young ConawayStargatt & Taylor, LLP, serve as the Debtors' bankruptcy counsel.The Debtors' financial advisors are Larry Perkins, John Farrace,Robert Shenfeld, Reece Fulgham, Miles Staglik, and Lissa Weissmanat SierraConstellation Partners, LLC.Beilinson Advisory Group is serving as independent management tothe Debtors.Garden City Group, LLC, is the Debtors' claims and noticing agent.WV NATIONAL AUTO: A.M. Best Lowers LongTerm ICR to 'bb-'--------------------------------------------------------A.M. Best has downgraded the Financial Strength Rating to B- (Fair)from B (Fair) and Long-Term Issuer Credit Rating to "bb-" from "bb"of West Virginia National Auto Insurance Company (WV National Auto)(Morgantown, WV). The outlooks of these Credit Ratings (ratings)are negative. Concurrently, A.M. Best has withdrawn the ratings asthe company has requested to no longer participate in the A.M.Best's interactive rating process.The ratings and outlooks reflect WV National Auto's balance sheetstrength, which A.M. Best categorizes as weak, as well as itsmarginal operating performance, limited profile and appropriateenterprise risk management. The company is a niche writer ofnon-standard automobile insurance, which is inherently volatile.Underwriting is limited to West Virginia since the company exitedVirginia in 2016. Return measures are generally negative due tounderwriting losses mainly driven by business that was written inVirginia. There is currently less competition within West Virginiafor non-standard business due to the state's ability to cap feeincome, causing other carriers to withdraw from the market. Through2017, a combination of increased net writings, combined with a dropin the company's surplus, has resulted in a material decline in thecompany's capitalization.ZEKELMAN INDUSTRIES: Moody's Alters Outlook to Pos & Affirms B2 CFR-------------------------------------------------------------------Moody's Investors Service changed Zekelman Industries, Inc.'sratings outlook to positive from stable to reflect the recentimprovement in the company's operating performance and creditmetrics and the expectation they will improve further in the nearterm. It also reflects the improved competitive position of thecompany after the recent consolidation in the tubular productssector. Moody's affirmed the company's B2 corporate family rating(CFR), B2-PD probability of default rating (PDR), B2 rating on itssenior secured term loan and the Caa1 rating on its senior securednotes.The following ratings were affected in this rating action:Affirmations:Corporate family rating, affirmed B2;Probability of default rating, affirmed B2-PD;Senior secured term loan due 2021, affirmed B2 (LGD3);Senior secured notes due 2023, affirmed Caa1 (LGD5);Outlook Actions:Changed to positive from stableRATINGS RATIONALEZekelman Industries B2 corporate family rating reflects thecompany's modest size and limited diversity versus higher ratedcompanies in the steel products sector, as well as its sensitivityto fluctuating steel prices and reliance on nonresidentialconstruction activity, which drives demand for most of its tubularproducts. The rating also considers the highly competitive marketin which the company operates and its limited productdifferentiation. The company's rating favorably considers itsmoderate leverage, ample interest coverage, adequate liquidityprofile and its leading market position for a number of structuraltubing, standard pipe and electrical conduit products. It alsoreflects Moody's expectation that its operating performance willremain strong in the near term supported by rational competitivedynamics and gradually improving nonresidential constructionactivity.Zekelman Industries operating performance and credit metrics havestrengthened considerably over the past two fiscal years as thecompany has benefitted from moderately improved end market demand,wider spreads between steel purchases for inventory and finalproduct prices as well as cost cuts and productivity improvements.Zekelman has been able to widen its material spreads as the companyand its competitors have focused on improved pricing discipline andbenefitted from consolidation in the industrial pipe and tubesector. The steel tubular products sector has undergone significantconsolidation in the past year with Nucor acquiring IndependenceTube, Southland Tube and Republic Conduit and Zekelman acquiringWestern Tube & Conduit and American Tube Manufacturing. As aresult, Zekelman's operating results have improved dramaticallyover the past two fiscal years with adjusted EBITDA of $378 millionin fiscal 2017 (ended September 2017) and $300 million in fiscal2016 versus a range of $155 million - $196 million in the priorthree fiscal years.The substantially improved operating performance along withmoderate capital spending has enabled Zekelman to generate at least$90 million of free cash flow in each of the past two fiscal years.The company used a portion of that free cash along with term loanborrowings to fund acquisitions and to pay shareholder dividends.As a result, its overall debt level has remained relatively stableat about $1.3 billion, which is somewhat high versus the company'sLTM revenues of about $2.1 billion. However, its credit metricshave strengthened along with its operating performance, with itsadjusted leverage ratio (Debt/EBITDA) declining to 3.7x inSeptember 2017 from 4.5x in September 2016 and its interestcoverage ratio (EBIT/Interest Expense) rising to 3.0x from 2.2x.These ratios are strong for the B2 corporate family rating andcould improve further in fiscal 2018 as demand improves and itbenefits from owning both Western Tube and American Tube for a fullfiscal year. However, the company's ratio of free cash flow to debt((CFO-dividends)/debt) remains somewhat weak for its rating due toinvestments in working capital and the payment of dividends. Thismetric declined to 10.4% in September 2017 from 11.9% in the prioryear.Zekelman Industries has a good liquidity profile with a cashbalance of $29 million and borrowing availability of $292.5 millionas of September 30, 2017. The company had $25 million ofoutstanding borrowings on its $350 million revolver and $32.5million of letters of credit issued. The senior secured revolvingcredit facility matures in November 2019 or 90 days prior toZekelman's nearest debt maturity. The company currently has nooutstanding debt that matures prior to November 2019.The positive outlook reflects Moody's expectation that Zekelman'soperating results will remain strong and its credit metrics willmoderately improve in the near term.Zekelman's rating could be upgraded should it maintain a leverageratio below 4.5x, an interest coverage ratio above 2.0x, free cashflow to debt (CFO-dividends/debt) above 13% and sustain thepositive momentum in its operating performance and pay down debt.A downgrade is unlikely in the near term, but could be consideredshould Zekelman's operating results and credit metrics weaken orits liquidity position deteriorates materially. Downside triggerswould include the leverage ratio above 5.0x, interest coverageratio below 1.8x and free cash flow to debt below 11%.Headquartered in Chicago, Illinois, Zekelman Industries, Inc.manufactures steel pipe, hollow structural steel (HSS), electricalconduit and tubular products at fifteen manufacturing facilities inthe US and Canada. The company includes the operating divisions ofAtlas Tube, Wheatland Tube, Western Tube & Conduit, Sharon Tube andPicoma and has leading market positions in key product areasincluding hollow structural steel, standard pipe, electricalconduit and galvanized mechanical tubing. Its products are soldprincipally to steel service centers and plumbing and electricaldistributors. Revenues for the twelve months ended September 30,2017 were approximately $2.1 billion.The principal methodology used in these ratings was Steel Industrypublished in September 2017. [^] BOOK REVIEW: The First Junk Bond------------------------------------Author: Harlan D. PlattPublisher: Beard BooksSoftcover: 236 pagesList Price: $34.95Review by Gail Owens HoelscherOrder your personal copy today and one for a colleague athttp://www.beardbooks.com/beardbooks/the_first_junk_bond.htmlOnly one in ten failed businesses is equal to the task ofreorganizing itself and satisfying its prior debts in somefashion. This engrossing book follows the extraordinary journeyof Texas International, Inc (known by its New York StockExchange stock symbol, TEI), through its corporate growth anddecline, debt exchange offers, and corporate renaissance asPhoenix Resource Companies, Inc. As Harlan Platt puts it, TEI"flourished for a brief luminous moment but then crashed toearth and was consumed." TEI's story features attention-grabbingcharacters, petroleum exploration innovations, financialinnovations, and lots of risk taking.The First Junk Bond was originally published in 1994 andreceived solidly favorable reviews. The then-managing directorof High Yield Securities Research and Economics for MerrillLynch said that the book "is a richly detailed case study. Plattintegrates corporate history, industry fundamentals, financialanalysis and bankruptcy law on a scale that has rarely, if ever,been attempted." A retired U.S. Bankruptcy Court judge noted,"(i)t should appeal as supplementary reading to students in bothbusiness schools and law schools. Even those who practice.in theareas of business law, accounting and investments can obtain agreater understanding and perspective of their professionalexpertise.""TEI's saga is noteworthy because of the company's resilienceand ingenuity in coping with the changing environment of the1980s, its execution of innovative corporate strategies thatwere widely imitated and its extraordinary trading history,"says the author. TEI issued the first junk bond. In 1986 itachieved the largest percentage gain on the NYSE, and in 1987suffered the largest percentage loss. It issued one of the firstbonds secured by a physical commodity and then later issued oneof the first PIK (payment in kind) bonds. It was one of thefirst vulture investors, to be targeted by vulture investorslater on. Its president was involved in an insider tradingscandal. It innovated strip financing. It engaged in severalworkouts to sell off operations and raise cash to reduce debt.It completed three exchange offers that converted debt in toequity.In 1977, TEI, primarily an oil production outfit, had had areprieve from bankruptcy through Michael Milken's first everjunk bond. The fresh capital had allowed TEI to acquire acontrolling interest of Phoenix Resources Company, a part ofKing Resources Company. TEI purchased creditors' claims againstKing that were subsequently converted into stock under the termsof King's reorganization plan. Only two years later, cashdeficiencies forced Phoenix to sell off its nonenergybusinesses. Vulture investors tried to buy up outstanding TEIstock. TEI sold off its own nonenergy businesses, and focused onoil and gas exploration. An enormous oil discovery in Egypt madethe future look grand. The value of TEI stock soared. Somehow,however, less than two years later, TEI was in bankruptcy. Whata ride!All told, the book has 63 tables and 32 figures on all aspectsof TEI's rise, fall, and renaissance. Businesspeople will findespecially absorbing the details of how the company's bankruptcyfiling affected various stakeholders, the bankruptcy negotiationprocess, and the alternative post-bankruptcy financialstructures that were considered. Those interested in the oil andgas industry will find the book a primer on the subject, with anappendix devoted to exploration and drilling, and another on oiland gas accounting.Harlan Platt is professor of Finance at Northeastern University.He is president of 911RISK, Inc., which specializes indeveloping analytical models to predict corporate distress. *********Monday's edition of the TCR delivers a list of indicative pricesfor bond issues that reportedly trade well below par. Prices areobtained by TCR editors from a variety of outside sources duringthe prior week we think are reliable. Those sources may not,however, be complete or accurate. The Monday Bond Pricing tableis compiled on the Friday prior to publication. Prices reportedare not intended to reflect actual trades. Prices for actualtrades are probably different. Our objective is to shareinformation, not make markets in publicly traded securities.Nothing in the TCR constitutes an offer or solicitation to buy orsell any security of any kind. It is likely that some entityaffiliated with a TCR editor holds some position in the issuerspublic debt and equity securities about which we report.Each Tuesday edition of the TCR contains a list of companies withinsolvent balance sheets whose shares trade higher than $3 pershare in public markets. At first glance, this list may look likethe definitive 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.On Thursdays, the TCR delivers a list of recently filedChapter 11 cases involving less than $1,000,000 in assets andliabilities delivered to nation's bankruptcy courts. The listincludes links to freely downloadable images of these small-dollarpetitions in Acrobat PDF format.Each Friday's edition of the TCR includes a review about a book ofinterest to troubled company professionals. All titles areavailable at your local bookstore or through Amazon.com. Go tohttp://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday editionof the TCR.The Sunday TCR delivers securitization rating news from the weekthen-ending.TCR subscribers have free access to our on-line news archive.Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. *********S U B S C R I P T I O N I N F O R M A T I O NTroubled Company Reporter is a daily newsletter co-publishedby Bankruptcy Creditors Service, Inc., Fairless Hills,Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA. Jhonas Dampog, Marites Claro, Joy Agravante, Rousel ElaineTumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, CarloFernandez, Christopher G. Patalinghug, and Peter A. Chapman,Editors.Copyright 2017. All rights reserved. ISSN: 1520-9474.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 containedherein is obtained from sources believed to be reliable, but isnot guaranteed.The TCR subscription rate is $975 for 6 months delivered viae-mail. Additional e-mail subscriptions for members of the samefirm for the term of the initial subscription or balance thereofare $25 each. For subscription information, contact Peter A. Chapman at 215-945-7000 or Nina Novak at 202-362-8552. *** End of Transmission ***