Digest Highlights - 09/20/20

Currently tracking 204 credits from 117 companies.


1 min read
Digest Highlights - 09/20/20

Distressed Digest

September 20th 2020

Currently tracking 204 credits from 117 companies.

If you wish to view the Distressed Watchlist within Google Sheets, please request access to it and I will shortly grant you access to it.

https://docs.google.com/spreadsheets/d/17CE82ulzQX9KuRBMBeWXdyyx6LSjXqdaTepEc27A-8s/edit#gid=1148751060

Leaders for the Week

Laggards for the Week

Highlights

  • McGraw-Hill Global (MCHE 7.875 '24), which was downgraded by S&P to CCC+ from B- earlier this month, traded lower by 3.5pts to 57.50 yielding 26.8%.

  • American Airlines (AAL 5.00 '22) traded higher by 7.50pts to 72.50 yielding 26.1%.

  • Globe Specialty Metals (GSM 9.375 '22) traded for the first time since July. The bonds traded up 21pts to 65.00 yielding 45%. GSM stock was up 75% this past week, closing at 77 cents.

  • Denbury Resources (DNR) plans to emerge from bankruptcy this upcoming week.

  • Jonah Energy LLC (JHNE 7.25 '25) traded at 11.50 for the first time since the end of June.

  • Guitar Center (GTRC 9.50 '21) traded higher by 4.50pts to 83.50 yielding 29.3%.

  • Hovnanian K Enterprises (HOV 10.00 '22) traded higher by 9.50pts to 92. The bonds have not completely recovered since falling into the 50s this past spring.

  • Hertz Corp (HTZ) unsecured notes traded up another 3.5pts this week to 51.

  • Party City (PRTY 5.318 '25) traded higher by 5pts to 67.50.


Written By
Rich Meatto

Co-founder of Koyfin. Former distressed high-yield trader now creating, designing, and developing a financial platform you desire. During my trading days, I would share a daily distressed digest with clients containing trading color and news. I share them with everyone in my spare time. Feel free to follow me on Twitter and my DMs are always open.