Rite Aid rises amid earnings loss, new partnership; Envision snaps negative streak

By James McCandless

San Antonio, June 27 – The distressed debt space saw a shift in attention to retail and healthcare names on Thursday.

Rite Aid Corp.’s notes rose after the company announced a partnership with Amazon.com, Inc. despite reporting an earnings loss.

Retail sector peer PetSmart, Inc.’s issues finished mixed.

Meanwhile, in health care, Envision Healthcare Corp.’s paper improved, snapping a weeks-long negative streak under the weight of a potential regulatory change.

In energy, Ensco Rowan plc’s notes ended mixed a day after receiving outsized attention in part due to favorable conditions for its sector.

Despite modest oil future gains, Chesapeake Energy Corp.’s and Alta Mesa Resources, Inc.’s issues slid while California Resources Corp.’s paper was mixed.

Elsewhere, in telecom, Frontier Communications Corp.’s notes fell while Intelsat SA’s issues experienced mixed results.

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