Navigant Says It Won’t Meet Debt Obligations

Navigant International Inc., the second-largest U.S. provider of corporate travel services, said it would fail to meet debt obligations because of lower second-quarter profit and sales as a result of the war in Iraq and the SARS outbreak.

The company won’t meet the terms of some agreements with creditors, Navigant said. The Englewood, Colo., firm owed $163.7 million to banks and holders of its senior secured notes as of March 30.