Neiman Marcus falls on creditor resistance; Weatherford crashes with crude futures

By James McCandless

San Antonio, Dec. 20 – The Thursday session in the distressed space saw losses across the board.

Neiman Marcus Group, Inc.’s notes fell as the company continues to face resistance from creditors over a possible restructuring.

Meanwhile, Rite Aid Corp.’s issues were trending upward but ended flat after beating earnings expectations.

Sector peer PetSmart, Inc.’s paper moved lower.

Elsewhere, in energy, Weatherford International plc’s notes crashed on a negative day for oil futures. The company received a ratings downgrade Thursday.

The session also saw weakness in Sanchez Energy Corp.’s and Ensco plc’s issues, while California Resources Corp.’s paper was mixed.

Away from oil, Ferrellgas Partners LP’s notes were declining.

Community Health Systems, Inc.’s issues were also negative.

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