Adient notes drop after earnings release; PG&E issues mixed amid new headlines

By James McCandless

San Antonio, Feb. 7 – Thursday’s session in the distressed space saw weakness across the spectrum.

Adient plc’s notes dropped after the company released disappointing earnings and revenues in the first quarter.

Elsewhere, PG&E’s issues closed mixed amid a new round of negative headlines.

Meanwhile, CommScope Technologies LLC’s paper continued to climb as its parent company priced a $3.75 billion three-tranche offering.

In the energy space, Hi-Crush Partners LP’s notes moved lower a day after the company issued its lackluster Q4 report.

Leaking oil futures led to similar declines in EP Energy Corp., Alta Mesa Resources, Inc. and California Resources Corp.’s issues.

In telecom, Frontier Communications Corp. and Intelsat SA’s paper declined.

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