Digicel up despite ratings downgrade; Bed Bath & Beyond slides in wake of earnings

By James McCandless

San Antonio, July 12 – The distressed space finished the week with the market focusing on telecom and retail names.

Digicel Group Ltd.’s notes headed higher on Friday despite receiving a ratings downgrade.

Sector peer Frontier Communications Corp.’s issues were mixed.

In the retail space, Bed Bath & Beyond Inc.’s paper continued to fall a day after releasing a lukewarm earnings report.

Another retailer, PetSmart, Inc., saw its notes finish mixed.

Meanwhile, PG&E Corp.’s issues also closed mixed as California creates a $21 billion fund to help settle wildfire claims.

Oil and gas name McDermott International, Inc.’s paper leveled off after a few days of rising in reaction to new contracts.

Despite modest gains for oil futures, Hi-Crush Partners LP and Superior Energy Services, Inc.’s notes dropped while Ensco Rowan plc’s issues were mixed.

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