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There is no such thing as an array in Mendix, just lists of objects.
I cannot make this clearly from your explanation, but i assume you have a list of LINESTATUS objects and that each object has an attribute called “value” and an attribute called “ORDER_LINE_STATUS”.
You can loop over the list, and for everyobject check if the value equals ‘A’, ‘B’ or ‘C’ and then set the value of the ORDER_LINE_STATUS to the desired corresponding value.
After doing that, you should commit and refresh the list and you can pass the list as a return value if desired.
Tip: if you are planning to develop Mendix applications professionally, please check out the Mendix naming conventions. https://docs.mendix.com/howto/general/dev-best-practices#3-naming-conventions.