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Anywhere Real Estate paper, CDS soften; Rite Aid quiet, CDS spreads firm; Bausch gains
By Cristal Cody
Tupelo, Miss., Feb. 23 – Anywhere Real Estate Group LLC’s bonds declined on Thursday, while its credit default swap spreads moved out ahead of the company’s heavy fiscal 2022 loss reported over the day.
Anywhere Real Estate’s 5¼% senior notes due 2030 (B2/B+) traded down about 1¾ points to 69 bid, a source said.
The company’s CDS spreads widened 60 basis points over the past week ended Wednesday.
So far, 441 companies have reported quarterly earnings with 68.9% surpassing forecasts, “while 24.7% have fallen short of expectations,” Confluence Investment Management strategists said in a note on Thursday.
Bausch Health Cos. Inc.’s paper saw additional gains on Thursday after it posted losses for the fourth quarter and fiscal 2022.
Bausch Health Americas Inc.’s 8½% senior notes due 2027 (Ca/CCC) rose ¾ point to 51½ bid by the day’s close, a source said Thursday.
Meanwhile, Rite Aid Corp.’s paper has been little traded this week, while the drugstore chain’s CDS spreads came in more than 300 bps, sources said.
The 8% senior secured notes due 2026 (Caa3/CCC-/CCC) were last seen trading in any significant volume in the prior week on a 54 bid handle.
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