Hexion notes trade up after Q1 results; Sears issues decline as asset-sale plans outlined

By James McCandless

San Antonio, May 14 – Traders reported slow activity typical of a Monday in the distressed debt market.

Hexion Inc. notes traded up as the company released its Q1 report, posting a quarterly net loss of $13 million.

Sears Holdings Corp. issues lost on the day as the company begins to outline a plan for asset sales.

Revlon, Inc. paper was mixed after last week’s trend downward after the company reported a fall in Q1 revenue and earnings.

Intelsat SA notes started the week up. Recently, the company posted a poor Q1 report. Frontier Communications Corp., another name in distressed telecom, saw issues mixed a few weeks after a disappointing Q1 report. Mallinckrodt plc paper fell.

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