Murray Energy up on overall slow day; Neiman Marcus, Avaya down; Intelsat, iHeart mixed

By Colin Hanner

Chicago, Feb. 7 – Activity continued to be sparse in the distressed arena on Tuesday, traders said, with one of the most active issues coming out of the coal space – and not one that has been making headlines recently.

“It was a little thin today,” a trader said.

“Still most of the focus [is] on new issues,” another trader said. “Post [Holdings Inc.] is very active, as well as some of the other recent names.

St. Clairsville, Ohio-based Murray Energy Corp. was up slightly on good volume, a market source said, as the coal industry continues to wait for a Trump administration action on the sector.

Avaya, Inc. was down in one series of bonds after trading up the past couple of days, a trader said.

Retailer Neiman Marcus Group, Inc. continued its declining trajectory and was off more than usual in one of its two distressed issues.

Movement was mixed for several issues of satellite telecommunications company Intelsat Jackson Holdings SA, though none veered outside of a point in either direction.

Navios Maritime Holdings, Inc. picked up more steam after a slight increase on Monday, offshore driller Noble Corp. was down in several issues, distressed and regular high-yield, alike, and iHeartCommunications, Inc. was unchanged on the session.

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