Murray Energy notes gain after week of CEO comments; American Tire issues end higher

By James McCandless

San Antonio, July 20 – Friday trading in the distressed debt market tightened around the week’s popular names.

Murray Energy Corp. notes gained, capping a week of improvement as its chief executive officer called for less government involvement in energy markets.

American Tire Distributors issues rose as the company tries to fill the gaps left by the recent loss of two distribution deals with major tire firms.

Intelsat SA paper declined. Last week, the Federal Communications Commission announced the potential for a rule change that could benefit satellite companies.

Frontier Communications Corp. notes were mixed. The company’s chief financial officer recently submitted his resignation.

Hornbeck Offshore Services, Inc. issues were mixed.

PetSmart, Inc. paper traded up.

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