United notes eyed as revenue forecast cut; GTT better after asset sale news

By James McCandless

San Antonio, Sept. 9 – As the week reached the midpoint, the distressed debt space put the focus on tranches in the travel and telecom sectors.

United Airlines Holdings, Inc.’s notes varied in direction after the company released a larger loss in expected third-quarter revenue.

Sector peer American Airlines Group Inc.’s issues also diverged.

In the telecom space, GTT Communications, Inc.’s paper rose a day after reports indicated that it was in advanced talks to sell about $2 billion in assets.

While oil futures came off of fresh lows, Occidental Petroleum Corp.’s notes followed while Antero Resources Corp.’s issues ended mixed and Transocean Ltd.’s paper slipped.

Theater name AMC Entertainment Holdings, Inc.’s notes moved on different paths as its locations open back up.

Meanwhile, in retail, Nordstrom, Inc.’s issues pushed upward while Revlon, Inc.’s paper drifted apart.

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