Diebold declines again, sees after-market ratings downgrade; Sanchez Energy slides

By James McCandless

San Antonio, Aug. 8 – Traders saw an overall increase in activity in the distressed debt market Wednesday as earnings season continued.

Diebold Nixdorf, Inc. notes fell for a third day. After market close, Standard & Poor’s issued a ratings downgrade in the wake of a recent dismal earnings report.

Sanchez Energy Corp. issues slid further. Its recent Q2 earnings report fell short of analyst expectations.

Mallinckrodt plc paper improved again. The company recently released its Q2 earnings report, surpassing analyst predictions.

Intelsat SA notes gained. Last Thursday, a subsidiary priced a $1.25 billion offering of senior notes.

Frontier Communications Corp. issues declined. The company released a lackluster earnings report last week.

Hornbeck Offshore Services, Inc. paper rose. Last week, the company beat earnings and revenue estimates.

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