Frontier Communications notes gain on asset sale buzz; FirstEnergy Solutions issues lose

By James McCandless

San Antonio, April 4 – The distressed debt market continued to see low levels of activity on Wednesday, as traders reported most of the volume remained in news-driven names.

Frontier Communications Corp. notes saw gains as reports surfaced that it is exploring asset sales.

FirstEnergy Solutions Corp. issues continued falling in high volume as it enters the bankruptcy process.

Community Health Systems, Inc. paper extended its downturn as the company makes progress on its divestiture plan.

Intelsat SA notes saw more gains as it contributed to the volume of the distressed telecom sector. Mallinckrodt plc saw a down day as it contributed volume in the healthcare space. A slight uptick in oil futures spurred a down day for Ensco plc.

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