Q4 announcements make active day for Intelsat; Sears stays busy post-Nordstrom news

San Antonio, Feb. 26 – Traders reported yet another slow day for the distressed debt market to start the week, while much of the volume was filled by fourth quarter announcements.

Notes in California Resources Corp., a favorite in the distressed energy sector, saw some movement as fourth quarter numbers and end of year results were released at the market’s close.

Perennial high volume favorite Intelsat SA saw its issues heavily trade again after fourth quarter results were released Monday morning.

Sears Holdings, Inc. saw a second day of activity. The paper started trading in higher volume after Friday reports that Nordstrom, Inc. would convert to a private entity.

Frontier Communications Corp. took up more volume in the telecom space. Mallinckrodt plc and Community Health Systems, Inc. dominated the healthcare sector as Revlon, Inc. continued to be a high volume name in retail.

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