Intelsat notes up as Q1 sales projections topped; Frontier Communications rises

By James McCandless

San Antonio, May 1 – The distressed debt market experienced a slower day Tuesday, traders reported, as many of the day’s moves were precipitated by news.

Intelsat SA notes gained as the company posted its Q1 earnings, falling short of earnings estimates but beating sales projections.

Frontier Communications Corp. issues were mixed as the company posted Q1 numbers after market close with earnings that beat estimates.

Community Health Systems, Inc. paper jumped after the company posted better than expected Q1 earnings.

Ensco plc notes dipped as the market continues to react to the company’s disappointing Q1 report posted last Friday. FirstEnergy Solutions Corp. issues were mixed as the company continues to lobby for federal assistance to prevent power plant closures. Mallinckrodt plc paper was down in the medical space.

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