Exela continues on downward track; Ensco Rowan sees upward push

By James McCandless

San Antonio, May 24 – The last day of the week in distressed trading had an abbreviated session due to the holiday weekend.

Exela Intermediate LLC, a subsidiary of Exela Technologies Inc., saw its notes continue to slide on negative attention.

Meanwhile, Ensco Rowan plc’s issues saw a recovery from Thursday’s loss after announcing that it would stop quarterly dividends.

As oil futures improved EP Energy Corp.’s and Halcon Resources Corp.’s paper dropped and Weatherford International plc’s notes closed mixed.

Retailer L Brands, Inc.’s issues improved a few days after releasing positive earnings results for the first quarter.

Elsewhere in the sector, PetSmart, Inc.’s paper was on the rise.

Drugmaker Mallinckrodt plc’s notes were also positive as Teva Pharmaceutical Industries Ltd.’s issues were relatively active but level.

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