Ensco Rowan mixed as name change announced; L Brands higher in retail space

By James McCandless

San Antonio, July 3 – On a trading day cut short by the coming Fourth of July holiday, the distressed debt space paid more attention to telecom and energy names Wednesday.

Ensco Rowan plc’s notes were mixed after the company announced that it would be changing its name at the end of the month.

Oil futures saw a boost, followed by Chesapeake Energy Corp.’s, Superior Energy Services, Inc.’s and Montage Resources Corp.’s paper.

Meanwhile, retailer L Brands, Inc.’s notes were seen gaining after an analyst recommended the company spin off one of its segments.

Cosmetics name Revlon, Inc.’s issues fell.

In telecom, Frontier Communications Corp.’s paper was lower in the telecom space in the wake of a shareholder rights plan.

Sector peer Intelsat SA’s notes saw a better day.

Dairy name Dean Foods Co.’s issues slumped.

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