Distressed Digest
October 11th 2020
Currently tracking 194 credits from 113 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
Weekly Highlights
AMC Entertainment (AMC)
The movie theater chain's capital structure continues to weaken. The first lien notes traded down to 67.50 yielding 22.4% while the newly exchanged second lien notes traded down to 14.50.
Party City (PRTY)
After seeing strength into the new Anagram first lien notes, the remaining unsecured Party City notes traded up into the 40s.
McGraw-Hill Global
After falling into the 50s, McGraw-Hill Global (MCHE 7.875 '24) recovered 8pts to 62.00 yielding 24.3%.
Staples (SPLS)
The office supply retailor continues to see strength in its capital structure. The SPLS 10.75 '27 traded higher by 4.50pts to 84 yielding 14.7%.
Diamond Sports Group LLC (DSPORT)
The regional sports network continues to weaken. The DSPORT 5.375 '26 fell 6.5pts to 63.50 yielding 15.0% while the DPSORT 6.625 '27 fell 3.5pts to 47.50 yielding 21.7%.
Cooper-Standard Auto (COSH)
The Cooper-Standard CPS 5.625 '26 senior unsecured notes moved higher by 4pts to 68.00 yielding 13.5%.
Jonah Energy LLC (JNHE)
The privately held oil and gas producer in Wyoming saw its bonds fall to single digits. The JHNE 7.25 '25 are now trading at 3.50.
United Steel (X)
X 6.25 '26 unsecured notes traded up 5pts to 71.00 yielding 14.1%.