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BRIEF-ITT Educational Services says plans to cease all operations as of Sept. 16

Sept 14 ITT Educational Services Inc :

* On Sept. 8, 2016, ITT Educational Services Inc received a letter from company's senior secured lender

* Letter stated, as result of occurrence of default, effective immediately, co's senior secured lender accelerates term loan

* Letter stated co's senior secured lender requires co immediately repay entire term loan of about $34.5 million - SEC filing

* On Sept. 8 co's senior secured lender gave notice to co's financial institutions that it was exercising control over co's bank accounts

* On Sept. 8 co's senior secured lender instructed financial institutions to transfer all of co's cash balances to accounts controlled by it

* "Cumulative effects of events over last several weeks" led co to plan to cease all operations as of September 16, 2016 Source text (bit.ly/2cxR2Vc) Further company coverage:

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