Community Health notes begin week mixed; American Tire continues rise amid reorganization

By James McCandless

San Antonio, July 30 – The distressed debt market kicked off the week with trading continuing to concentrate on newsworthy names.

Community Health Systems, Inc. notes were mixed to start the week’s trading. The company released a better than expected Q2 earnings report.

American Tire Distributors issues saw a fourth day of gains after the company announced a round of layoffs last week as it begins its reorganization strategy.

Intelsat SA paper was mixed. The Federal Communications Commission is considering a rule change that could create a new revenue stream for satellite firms.

Frontier Communications Corp. notes were mixed for a third day. CFO Perley McBride is resigning from the company.

Ultra Petroleum Corp. issues declined, following oil futures.

Endo International plc paper traded up in the medical space.

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