American Tire notes level; Community Health mixed as new issue comes to market

By James McCandless

San Antonio, July 9 – The distressed debt market saw trading focused on names with recent spotlights placed on them Monday, while the broader market saw lower volume.

American Tire Distributors notes were level. Bridgestone recently announced that it would end its passenger tire distribution deal with the company.

Community Health Systems, Inc. issues were mixed. Recently, a subsidiary brought a $1.3 billion offering of senior notes to market.

PetSmart, Inc. paper improved. A dispute between the company and its creditors has been made more complicated by a recent lawsuit.

Frontier Communications Corp. notes were mixed. The chief financial officer announced his impending departure.

Intelsat SA issues gained. The company recently announced that it would buy back its 7¾% notes due 2021.

Endo International plc rose in the medical space.

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