Parker Drilling notes down as company exits bankruptcy; Bombardier issues recover after analyst report

By James McCandless

San Antonio, Nov. 19 – At the beginning of the short holiday week, trading in the distressed space centered on energy names.

Parker Drilling Co.’s notes declined as the company announces that it has exited bankruptcy.

Another rise in oil futures saw California Resources Corp.’s issues following suit. Sanchez Energy Corp. and Bristow Group Inc.’s paper saw negative trends.

Away from oil, FerrellGas Partners, LP’s issues saw sharp declines.

Shipping names Navios Maritime Partners LP and Hornbeck Offshore Services Inc.’s notes fell.

Manufacturer Bombardier Inc.’s paper recovered on the back of an analyst’s report that said that regulatory action against the company was routine.

Telecom name Frontier Communications Corp.’s notes were mixed. Intelsat SA’s issues dropped.

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