Weatherford notes mixed on ratings downgrade; L Brands issues lower

By James McCandless

San Antonio, Dec. 26 – A short Christmas Eve session saw a broad decline in distressed trading.

Weatherford International plc’s notes were mixed after the company received a ratings downgrade.

Denbury Resources Inc.’s issues continued to drop as the company works to justify a potential merger to stakeholders.

Despite oil losses, California Resources Corp.’s paper traded up while Ensco plc’s and Sanchez Energy Corp.’s notes fell.

Elsewhere, in retail, L Brands, Inc.’s issues were declining as the brunt of the holiday shopping season passes.

J.C. Penney Co., Inc.’s paper also fell while Revlon Inc.’s notes were mixed.

Altice SA and Intelsat SA’s issues were negative in the telecom space.

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