J.C. Penney declines amid negative attention; Ultra Resources falls in wake of downgrade

By James McCandless

San Antonio, Aug. 24 – As the distressed debt market ended the week, activity centered on retail and oil names.

J.C. Penney Co., Inc. notes declined after a week of gains. Following a negative earnings report, the company received a string of ratings downgrades.

Ultra Resources Inc. issues fell. On Thursday, the company received a ratings downgrade near the market close.

Sanchez Energy Corp. paper lost again. The company missed analyst expectations in a recent second-quarter earnings report.

Intelsat SA notes ended the week mixed. Recently, a $1.25 billion issue was priced by a subsidiary.

Frontier Communications Corp. issues were also mixed. The company posted an earnings report recently that fell below expectations.

Diebold Nixdorf, Inc. paper dropped in Friday trading. One of the company’s largest lenders is trying to secure a rescue loan.

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