Alta Mesa dips as company delays annual report; Intelsat gains after analyst upgrade

By James McCandless

San Antonio, April 3 – Energy and telecom names were the main focus of the distressed space on Wednesday.

Alta Mesa Resources Inc.’s notes dipped after the company informed the Securities and Exchange Commission that it would delay the release of its annual report.

Slightly lower oil futures gave way to a decline for Sanchez Energy Corp.’s issues while Ensco plc’s paper closed mixed and Denbury Resources Inc.’s notes improved.

Elsewhere, in telecom, Intelsat SA’s issues gained after receiving an analyst upgrade.

Sector peer Uniti Group Inc.’s paper was better after the company closed on a sale of South American assets.

Retailer Rite Aid Corp.’s notes continued to push lower as legal and sector pressures weigh on the name.

Chemicals producer Hexion Inc.’s issues were negative in the aftermath of its bankruptcy filing.

Dean Foods Co.’s paper was also on a downward path.

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