Albertsons off on numbers; energy names mostly lower as crude retreats; Frontier firms

By Paul Deckelman

New York, Jan. 16 – Traders in distressed debt and in the bonds and notes of otherwise underperforming companies and sectors saw a somewhat quieter session on Tuesday, in line with a generally relaxed pace in the broader high-yield bond market as participants got back to work following a long three-day holiday weekend.

Supermarket operator Albertsons Cos., LLC’s several issues of bonds fell after it reported disappointing fiscal third-quarter results.

In the oil and natural gas arena, most sector names such as Denbury Resources Inc., Sanchez Energy Corp. and EP Energy Corp. were seen lower, in line with a retreat in crude oil prices – the first such setback after five consecutive sessions before that of crude gains. But bellwether credit California Resources Corp. managed to eke out a small gain.

Wireline telecommunications operator Frontier Communications Corp.’s recently beleaguered bonds firmed, although there was no fresh positive news seen out about the company.

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