Arctic Glacier in default on first-, second-lien credit facilities

By Caroline Salls

Pittsburgh, Sept. 14 - Arctic Glacier Income Fund's first-lien secured lenders and second-lien secured lenders have issued a notice of default on the fund's senior and subordinated credit facilities, but have not accelerated the facilities, according to a news release.

Arctic Glacier said it is in discussions with the first-lien lenders and second-lien lenders to amend the credit agreements for future quarters.

Arctic Glacier Income Fund, through operating company Arctic Glacier Inc., produces and distributes packaged ice. It is based in Winnipeg, Man.

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