Altice notes rise after company sells stake in fiber unit; Ferrellgas issues improve

By James McCandless

San Antonio, Nov. 30 – The distressed debt space saw a mixed day to end the week in trading.

Altice SA’s notes rose after the company announced the sale of a 49.99% stake in its French fiber optics arm.

Elsewhere in telecom, Intelsat SA’s issues declined.

Meanwhile, in the energy space, Ferrellgas Partners, LP’s paper improved after a few weeks of negative attention.

In oil, Petroleos de Venezuela SA’s notes were mixed on increased attention as the company retains control of Citgo.

As oil futures declined, so did the notes of California Resources Corp., Hi-Crush Partners LP and Sanchez Energy Corp.

In retail, PetSmart, Inc.’s paper fell while L Brands, Inc. notes gained.

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