Murray Energy notes improve on CEO comments; American Tire issues continue rise

By James McCandless

San Antonio, July 17 – Trading in the distressed debt market centered on more topical names on Tuesday as broader volume held steady.

Murray Energy Corp. notes improved as its chief executive officer made comments at a Tuesday conference calling for the end of government interference in energy markets.

American Tire Distributors issues gained again for the fifth straight day as executives try to convince investors of the company’s potential growth.

Intelsat SA paper was mixed again. Last Thursday, the Federal Communications Commission began a process that could allow mobile operators to access part of the U.S. C-band spectrum.

Frontier Communications Corp. notes were mixed. Recently, the company announced the resignation of its chief financial officer.

Digicel Group Ltd. issues rose. Recently, bondholders appealed to the company to increase interest rates for some securities.

PetSmart, Inc. paper was mixed. The company recently filed a lawsuit against a former loan agent in a dispute over a recent equity transfer.

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