McDermott improves; Bristow falls amid strategic alternatives review; Adient up

By James McCandless

San Antonio, April 16 – Oil-related names continued to take up a sizeable portion of distressed trading on Tuesday.

McDermott International, Inc.’s notes were moving higher after announcing a financially troubled project is ready for commissioning.

Elsewhere in oil services, Bristow Group Inc.’s issues fell after announcing a strategic alternatives review.

A gain in oil futures saw Ensco Rowan plc’s and Weatherford International plc’s paper follow suit while Halcon Resources Corp.’s notes were active but level.

In manufacturing, Adient plc’s notes improved a day after starting $1.5 billion in new debt financing.

Meanwhile, Dean Foods Co.’s paper continued to sink amid market speculation of a buyout.

Telecom names DISH Network Corp.’s notes were down while Frontier Communications Corp.’s issues were pushed upward.

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