J.C. Penney notes slide after earnings release; Hexion issues decline on outlook downgrade

By James McCandless

San Antonio, Nov. 15 – The distressed space saw another soft day during Thursday’s session.

J.C. Penney Co., Inc.’s notes dove after the company released a disappointing third-quarter report Monday morning.

Elsewhere, PetSmart, Inc.’s issues fell while Rite Aid Corp.’s paper traded mixed.

Chemicals name Hexion, Inc.’s notes declined after a ratings agency revised its outlook to negative.

In coal, Cloud Peak Energy Inc.’s issues were rising as a ratings agency revises the recovery rating on its second-liens.

Sector peer Murray Energy Corp.’s notes saw a boost.

Elsewhere in energy, negativity in the oil space continued for California Resources Corp., Weatherford International plc and Sanchez Energy Corp.

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