Intelsat rises on 5G development; Halcon gains despite ratings downgrade

By James McCandless

San Antonio, May 14 – The telecom sector and related names took up much of the distressed space’s attention during the Tuesday session.

Intelsat SA’s notes improved after news that an FCC Commissioner and members of the U.S. Senate were calling for fast action in monetizing the C-band spectrum.

Sector peer Frontier Communications Corp’s issues closed mixed.

Telecom-linked REIT Uniti Group, Inc.’s paper was in decline in the aftermath of its earnings report.

In energy, Halcon Resources Corp.’s notes were gaining despite a ratings downgrade.

Oil futures rebounded, though Superior Energy Services, Inc.’s and Hi-Crush Partners LP’s issues slipped as Weatherford International plc’s paper was mixed.

Retailer Bed Bath & Beyond, Inc.’s notes were also mixed a day after its chief executive officer resigned from his post.

Drug maker Teva Pharmaceutical Industries Ltd.’s issues were mixed.

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