PHI rises in shaky offshore transportation space; Neiman Marcus mixed after lawsuit news

By James McCandless

San Antonio, Dec. 11 – Trading in the distressed space continued to focus on news-driven names on Tuesday with muted volume.

PHI, Inc.’s notes were up as the market increases scrutiny on the offshore aviation space.

Sector peer Bristow Group Inc.’s notes were also rising.

In retail, Neiman Marcus Group Inc.’s paper was mixed a day after a major creditor announced a lawsuit against the company.

Meanwhile, Revlon, Inc.’s notes were also mixed.

In the oil space, improvements in oil futures saw concurrent positivity in California Resources Corp.’s notes and Weatherford International plc’s issues while Sanchez Energy Corp.’s paper declined.

Coal name Cloud Peak Energy Inc.’s notes continue to be a negative market target.

Frontier Communications Corp.’s issues were mixed.

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