PetSmart mixed amid friction with creditor; FirstEnergy Solutions mixed after deal rejected

By James McCandless

San Antonio, April 5 – The end of the week in the distressed debt market saw more emphasis on newsmakers, many of which saw nonuniform trading.

PetSmart, Inc.’s notes finished the week mixed as a major creditor looks to assume plaintiff status in an ongoing lawsuit against the name.

Sector peer L Brands, Inc.’s issues also finished the session mixed.

Meanwhile, utility name FirstEnergy Solutions Corp., a subsidiary of FirstEnergy Corp., saw its paper end mixed after its restructuring plan was tossed out of court.

Elsewhere in utilities, PG&E Corp.’s notes were lower a day after it appointed a new chief executive officer and 10 new board members.

In oil and gas, Weatherford International plc’s issues continued to slide as it tries to maintain its New York Stock Exchange listing.

Oil future gains were the backdrop of varying results for California Resources Corp.’s paper while Hi-Crush Partners LP’s notes dipped and Chaparral Energy, Inc.’s issues pushed up.

Trading on Intelsat SA’s paper varied in the telecom space.

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