Diebold continues fall after ratings downgrade; Mallinckrodt improves on earnings

By James McCandless

San Antonio, Aug. 7 – Earnings reports continued to be the volume focal point of distressed debt trading on Tuesday.

Diebold Nixdorf, Inc. notes declined again after Moody’s issued ratings downgrades based on its recent earnings report.

Mallinckrodt plc issues improved after the company released an earnings report that beat analyst estimations.

Sanchez Energy Corp. paper dropped after the morning release of its Q2 earnings report, falling below expectations.

Intelsat SA notes were mixed. Last Thursday, a subsidiary priced an offering of senior notes for $1.25 billion.

Frontier Communications Corp. notes were mixed again. The company released a weak earnings report last week.

California Resources Corp. paper rose again. Last week, the company posted its Q2 earnings, exceeding analyst expectations.

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