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Hexion notes remain in focus; Nine West rises on amended bankruptcy plan
By James McCandless
San Antonio, Oct. 18 – Trading in the distressed debt space continued to focus on the news-driven names of the week on Thursday.
Hexion Inc.’s notes improved as holders continued organizing for upcoming debt talks with the company.
In retail, Nine West Holdings Inc.’s issues improved after the company filed an amended bankruptcy plan.
Elsewhere in the sector, Rite Aid Corp. paper fell while L Brands, Inc. rebounded.
In the energy space, Ultra Petroleum Corp.’s notes declined as ratings agencies increased scrutiny after the company announced exchange agreements for the notes.
Meanwhile, Sanchez Energy Corp. and PHI, Inc. saw similar weakness in the sector.
Natural gas name FerrellGas Partners LP paper gained.
iHeartMedia Inc. notes improved amid a dispute between legacy holders and the company.
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