Toys ‘R’ Us active on reports of liquidation; Frontier active after string of positive news

By James McCandless

San Antonio, March 9 – Traders reported a lower than average day of trading on Friday, capping off a slow week in the distressed debt market.

Toys “R” Us, Inc. notes sprung up in activity towards the end of the week after reports surfaced that the company is considering liquidating its U.S. assets as soon as next week.

Issues from Frontier Communications Corp. continued to drive much of the volume to close the week after a string of positive news that has traders cautiously optimistic on the name.

J. C. Penney Co., Inc. saw its paper dip on the day. On Thursday, the company priced a new issue.

The week saw more high volume activity for Intelsat SA, remaining at the top of the distressed telecom space. Negative news has kept Community Health Systems, Inc., a popular name in the healthcare sector, on the list of names whose future prospects remain grim. Meanwhile in energy, Ensco plc made up for Thursday’s losses while Northern Oil and Gas, Inc. rolled on as a volume favorite of the sector.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.