July 14, 2011 / 9:48 PM / in 6 years

UPDATE 1-Arctic Glacier in talks with lenders

July 14 (Reuters) - Packaged ice maker Arctic Glacier Income Fund AG_u.TO said it expects its below-market second-quarter results to result in the company defaulting on its credit agreements.

The debt-stricken company said it was talking to its lenders to amend the agreements to help it continue its review of its financial options.

Arctic Glacier said bad weather affected its results.

In May, Arctic Glacier had said it may issue units to debenture holders to meet its debt obligations. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Joyjeet Das)

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