Ultra Petroleum notes trade back down after Q1 report; Revlon issues bounce back

By James McCandless

San Antonio, May 11 – The distressed debt market experienced higher than usual trading on Friday, market sources confirmed, as the week came to a close.

Ultra Petroleum Corp. notes traded down after having risen Thursday as the market reacted to positive Q1 numbers, reporting a profit.

Revlon, Inc. issues bounced back after declining the past few days after the company reported a fall in Q1 revenue and earnings.

DISH Network Corp. paper rose, gaining back some of its losses after Tuesday’s Q1 report, which outlined less than stellar earnings and a falling subscriber count.

Intelsat SA notes closed the week up. Last week, the company posted a weak Q1 report. Frontier Communications Corp., another telecom name, issues were mixed on the heels of last week’s poor Q1 report. Mallinckrodt plc paper gained.

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