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ADELIE FOODS: Coronavirus Pandemic Impact Prompts Administration

Business Sale reports that Adelie Foods, one of Britain’s biggest suppliers of sandwiches and food-to-go, has appointed administrators as the coronavirus pandemic continues to impact the food sector. The company had been in rescue talks for several weeks, but a potential acquisition by an unnamed company couldn’t gain the necessary support from watchdogs in time,…

PACE INDUSTRIES: Wins Interim OK on Up to $125M of DIP Facility

Judge Mary F. Walrath granted Pace Industries, LLC and debtor affiliates interim approval to borrow: (i) up to $125 million in aggregate principal amount under a senior secured super-priority asset-based revolving credit facility from certain DIP revolver lenders and Bank of Montreal (BMO), as administrative agent, and (ii) an aggregate principal amount not to exceed…

WESCO INT’L: Fitch Assigns First Time ‘BB-‘ Issuer Default Rating

Fitch Ratings has assigned WESCO International, Inc. and WESCO Distribution, Inc. a first-time Issuer Default Rating of ‘BB-’. Fitch has also assigned ratings of ‘BB+’/’RR1′ to the company’s first lien secured ABL facility and ‘BB-’/’RR4′ to the company’s existing $850 million of unsecured notes and proposed issuance of $2.825 billion of new unsecured notes to…