Community Health notes decline a day after earnings; American Tire ends week gaining again

By James McCandless

San Antonio, July 27 – Trading in the distressed debt market continued to center around names with news surrounding them to close the week.

Community Health Systems, Inc. notes declined Friday despite Thursday’s release of its Q2 earnings report, showing smaller losses than expected.

American Tire Distributors issues improved for a third day. On Wednesday, the company announced a round of layoffs as part of its reorganization strategy.

Ensco plc paper slipped. On Thursday morning, the company posted better than expected Q2 earnings.

Intelsat SA notes gained. The Federal Communications Commission is considering a rule change that could benefit satellite firms.

Frontier Communications Corp. issues ended mixed again. CFO Perley McBride is preparing to leave the company.

Mallinckrodt plc paper ended the week down.

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