Ferrellgas notes rise despite delisting warning; Bristow issues rise as merger delayed

By James McCandless

San Antonio, Jan. 11 – The end of the week in the distressed market saw disparate direction in a week dominated by energy.

Ferrellgas Partners LP’s notes were on the rise Friday despite the company having received a delisting warning from the New York Stock Exchange.

In the oil space, Bristow Group Inc.’s issues were better amid concern about the company’s delayed merger with Columbia Helicopters.

A drop in oil futures saw the same movement for California Resources Corp.’s paper while Weatherford International plc and Sanchez Energy Corp.’s notes improved.

Utilities name PG&E Corp.’s issues were mixed again, capping off a week of heavy volume stemming from bankruptcy concerns.

In retail, L Brands, Inc.’s paper was mixed a day after the company reported lukewarm holiday sales.

Sector peer PetSmart, Inc.’s notes were also mixed while Neiman Marcus Group, Inc.’s issues fell.

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