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Waste manager secures $30 million DIP

Friday, March 12, 2010

US waste management company EnviroSolutions Holdings filed for bankruptcy on Wednesday, according to various media reports. The privately owned company, which has total liabilities of $289 million, has secured $30 million of debtor-in-possession financing.

The company’s term loans and revolver are not widely held but are present in a number of CLOs managed by Riversource Investments, according to Creditflux’s CLO Master. The assets are already rated triple C by both Moody’s and Standard & Poor’s.

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