J.C. Penney improves despite downgrade; Sanchez Energy continues to rise with oil futures

By James McCandless

San Antonio, Aug. 21 – The distressed debt market was active around names with recent news surrounding them on Tuesday.

J.C. Penney Co., Inc. notes improved despite a ratings downgrade from Fitch in the wake of a negative earnings report.

Sanchez Energy Corp. issues continued to rise, trailing oil futures. The company recently reported disappointing earnings.

Diebold Nixdorf, Inc. paper gained. A large lender to the company is working to secure a rescue loan.

Intelsat SA notes continued to trade mixed. A subsidiary recently brought a $1.25 billion issue of senior notes to market.

Frontier Communications Corp. issues were mixed. A recent Q2 report showed lower than expected earnings.

Mallinckrodt plc paper traded up in the medical space. The company recently beat earnings estimates in its Q2 report.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.