FirstEnergy Solutions mixed on bankruptcy settlement; Sears mixed as tire program grows

By James McCandless

San Antonio, Aug. 28 – News-driven names continued to bubble up to the top of distressed debt trading on Tuesday.

FirstEnergy Solutions Corp. notes were mixed following reports late Monday that its parent company has reached a bankruptcy settlement for its subsidiaries.

Sears Holdings Corp. issues were mixed as the company’s tire installation partnership with Amazon is expanded.

Diebold Nixdorf, Inc. paper was level. On Monday, the company secured a $650 million rescue loan from two institutional lenders.

Intelsat SA notes were mixed again. Recently, a subsidiary priced an issue of $1.25 billion in senior notes.

Frontier Communications Corp. issues declined. A recent second-quarter earnings report missed analyst expectations.

J.C. Penney Co., Inc. paper fell. A recent second-quarter earnings report triggered a string of ratings downgrades and negative attention.

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