AMERICAS DISTRESS DAILY: United Site Services in Forbearance

United Site Services is operating under a forbearance agreement after skipping interest payments on some of its debt, according to people with knowledge of the matter.

• A second-out loan is quoted at around 23 cents on the dollar, significantly lower than a first lien first-out term loan quoted at about par.

In Other News:

• Jefferies said it’sin communications with First Brand advisers to help determine the impact of the auto-parts maker’s bankruptcy on a Jefferies unit
• Brazilian waste-management company Ambipar Participações e Empreendimentos is preparing to file for judicial recovery in Rio de Janeiro as soon as next week, ...