DISTRESS WATCH: Altice, Dish Plans Lift $9B Debt Out of Distress

Altice France and Dish Network saw a combined $9.2 billion of bonds and loans rising out of distressed territory last week as the two telecommunications companies took steps toward overhauling their debt.

The latest offer tabled by billionaire Patrick Drahi’s French unit to cut as much as 15% of the company’s secured debt helped lift the prices of $6.3 billion of its bonds and loans.

In the US, tycoon Charlie Ergen has yet to convince bondholders to sign up to a distressed exchange, a key step to merge a unit with rival DirecTV. But the proposed merger has boosted ...