Intelsat notes climb on potential FCC rule change; American Tire issues rise

By James McCandless

San Antonio, July 12 – The distressed debt market continued to see a steady rise in activity on Thursday and is poised to see more overall volume on catalyts like earnings reports.

Intelsat SA notes continued to rise as the Federal Communications Commission weighs a proposal to allow mobile operators to access part of the U.S. C-band spectrum.

American Tire Distributors issues gained as investors anticipate a conference call with the company on the heels of Bridgestone ending its passenger tire distribution deal.

Sanchez Energy Corp. paper improved after the company announced late Tuesday that its chief operating officer had resigned.

Frontier Communications Corp. notes were mixed. Recently, chief financial officer Perley McBride resigned.

Wind Tre SPA issues were level but in high volume prompted by CK Hutchinson’s purchase of the company earlier this month.

PetSmart, Inc. paper saw more losses. The company’s recent lawsuit against its former loan agent is the latest in a dispute between it and creditors.

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