Digicel notes lower as market anticipates new issue; Uniti notes decline on downgrade

By James McCandless

San Antonio, March 7 – Thursday’s distressed market session saw another day of softness.

Digicel Group Ltd.’s notes were lower as the market anticipated a $600 million pricing of senior secured notes.

Sector peer Intelsat SA’s issues were mixed as the week’s negative stories surrounding the C-band spectrum weigh on the company.

Real estate investment trust Uniti Group Inc.’s paper was in decline after a ratings downgrade centered on its connection with bankrupt Windstream Holdings, Inc., which saw its notes also trend negative.

As oil futures rose, California Resources Corp. issues were under pressure while Ensco plc’s paper was mixed.

Amid turmoil in the retail space, Neiman Marcus Group, Inc.’s notes fell while Revlon, Inc.’s issues ended the day mixed.

Dean Foods Co.’s paper continued on a downward slope.

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