PetSmart mixed at top of retail space; Alta Mesa gains as financial alternatives sought

By James McCandless

San Antonio, April 9 – The distressed space saw attention continued to be focused on retail and energy names on Tuesday.

PetSmart, Inc.’s notes were mixed as the market waited for the company’s earnings numbers to trickle out.

Sector peer L Brands, Inc.’s issues were similarly mixed after being affirmed as negative by a ratings agency.

In energy, Alta Mesa Resources, Inc.’s paper gained a day after it announced a review of financial alternatives.

Oil futures received a haircut, giving way to mixed activity for California Resources Corp.’s and Ensco plc’s notes as EP Energy Corp.’s issues rose.

Elsewhere, in telecom, Windstream Holdings, Inc.’s paper improved as the company sues a competitor over alleged false advertising.

Intelsat SA, another telecom name, saw its notes trend lower.

Hexion Inc.’s issues traded lower a day after commencing its post-bankruptcy financing.

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