Community Health mixed on earnings report; American Tire continues to rise

By James McCandless

San Antonio, July 26 – The distressed debt market saw an uptick in activity Thursday as earnings season got underway.

Community Health Systems, Inc. notes ended mixed as the company released its Q2 earnings report after market close.

American Tire Distributors issues gained again a day after announcing a round of layoffs as part of its reorganization efforts.

Ensco plc paper improved after the company reported better than expected earnings as the market opened Thursday.

Intelsat SA notes were mixed again. The Federal Communications Commission is considering a rule change that could bring new sources of revenue to satellite firms.

Frontier Communications Corp. issues were also mixed. The company is preparing for the departure of CFO Perley McBride.

Elsewhere in the healthcare space, Mallinckrodt plc paper rose.

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