Windstream falls on bankruptcy filing; PG&E slips on proposed trading restrictions

By James McCandless

San Antonio, Feb. 25 – Distressed trading was wrapped up in a new bankruptcy at the beginning of the last week in February.

Windstream Holdings, Inc.’s notes fell after the company announced that it had filed for Chapter 11 bankruptcy on Monday.

Closely tied Uniti Group Inc.’s issues improved despite generating a majority of its business from Windstream.

Elsewhere, PG&E Corp.’s paper slipped after it announced that it is considering restrictions on trading its debt.

In retail, L Brands, Inc.’s notes were worse off after Target announced that it would introduce a line of lingerie to compete with the company’s Victoria’s Secret brand.

Sector peer Neiman Marcus Group, Inc.’s issues were rising.

Weaker oil futures spurred similar movement for California Resources Corp.’s and Denbury Resources Inc.’s paper while Ensco plc’s notes closed mixed.

Community Health Systems, Inc.’s issues were seen moving higher.

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