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Community Health bonds move up; Endo mixed; GPS, Carrols Restaurant paper mostly quiet
By Cristal Cody
Tupelo, Miss., July 28 – Community Health Systems Inc.’s bonds treading in distressed waters rose about 3¼ points to more than 6 points on Thursday after plunging more than 15 points in the prior session on a heavy second-quarter loss.
CHS/Community Health Systems, Inc.’s 6 1/8% senior secured notes due 2030 (Caa2/CCC/CCC) rallied 6 3/8 points to 54 3/8 bid, a source said.
Endo International plc’s notes were mixed after the company announced it paid off one interest payment skipped in June but plans to miss payments due on two more bonds in the week ahead.
Endo subsidiary Par Pharmaceutical Inc.’s 7½% senior secured first-lien notes due 2027 (Caa2/CC) rose ¾ point to 81 bid, a market source said.
Paper from Burger King franchisees remained higher on the week after Moody’s Investors Service cited the companies for weak operating performance on Wednesday.
GPS Hospitality Holding Co. LLC’s 7% senior secured notes due 2028 (Caa1/B-/CCC+) were quiet on Thursday after softening ¼ point to 65¼ bid in the previous session, a market source said.
The issue was up ¼ point on the week.
Carrols Restaurant Group Inc.’s 5 7/8% senior notes due 2029 (Caa2/CCC) were last seen early in the week trading ½ point better at 72¾ bid.
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