Murray Energy trades up on debt restructuring agreement; Community Health mixed

By James McCandless

San Antonio, June 4 – Traders reported a typically muted Monday in the distressed debt market with spots of activity driven by recent news.

Murray Energy Corp. notes gained after the company announced that it has reached an agreement with a portion of its noteholders and lenders on debt restructuring.

Community Health Systems, Inc. issues were mixed as a subsidiary extended an early payout deadline for a note exchange again.

PetSmart, Inc. paper traded up for a third straight day, gaining back declines after the recent appointment of a new chief executive officer.

Intelsat SA notes gained. Recently, the company released a subpar Q1 report. Frontier Communications Corp. issues were mixed. The company recently presided over a failed auction for its Florida assets. Mallinckrodt plc paper was level.

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