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Indalex

February 4, 2009

            Indalex Holdings Finance Corp., owner of the second-largest producer of soft aluminum extrusions in the U.S., said yesterday that it wasn’t making the interest payment due Feb. 2 on the $198 million in 11.5 percent second-lien notes.

            According to Bloomberg, although the company said it would use the 30-day grace period to “evaluate alternatives,” the statement said the action was part of “this debt restructuring.” 

Based in Lincolnshire, Illinois, Indalex is a subsidiary of Indalex Aluminum Solutions.  S&P lowered the issue-level rating on the company's $270 million senior secured notes due 2014 to 'D' from 'CCC-'.

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