Sanchez Energy improves with rising oil futures; FirstEnergy Solutions continues mixed

By James McCandless

San Antonio, Aug. 29 – The distressed debt market saw trading focus Wednesday largely on similar names as the day before with the Labor Day weekend on the horizon.

Sanchez Energy Corp. notes improved, following an increase in oil futures as U.S. oil reserves decline.

FirstEnergy Solutions Corp. issues traded mixed again. On Monday, its parent company reached a bankruptcy settlement for its subsidiaries.

Diebold Nixdorf, Inc. paper rose. On Monday, the company borrowed $650 million as a rescue loan from two institutional lenders.

Intelsat SA notes were mixed for the third day this week. A subsidiary recently priced $1.25 billion of senior notes.

Frontier Communications Corp. issues fell again. A recent disappointing second-quarter earnings report led to a ratings downgrade.

Mallinckrodt plc paper gained in the medical space.

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