Murray Energy notes add to recent gains; American Tire issues fall for second day

By James McCandless

San Antonio, July 19 – Trading in the distressed debt market remained fixed on names pegged with recent news on Thursday as the overall market volume remained flat.

Murray Energy Corp. notes improved, adding to recent gains. On Tuesday, its chief executive officer called for less government involvement in energy markets.

American Tire Distributors issues fell again, after ending a five-day run of positive trading on Wednesday amid company efforts to calm investor worries about recent business losses.

Intelsat SA paper was mixed. Last week, the Federal Communications Commission signaled its willingness to change a rule that would favor satellite companies.

Frontier Communications Corp. notes declined. The company’s chief financial officer recently announced his resignation.

Hornbeck Offshore Services, Inc. issues dropped again.

Mallinckrodt plc paper traded down in the pharmaceutical space.

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