Community Health mixed as more selloffs expected; Frontier jumps on earnings

By James McCandless

San Antonio, May 2 – Traders reported a standstill day in the distressed debt market on Wednesday, with much of the movement coming from names releasing earnings.

Community Health Systems, Inc. notes were mixed after its chief executive officer stated in an earnings call that more hospital closures were to be expected to further bring down costs.

Frontier Communications Corp. issues jumped as the market reacted positively to its Q1 report released after market close Tuesday.

Intelsat SA paper was mixed as investors shaved off some of the gains made Tuesday in its common stock after posting its Q1 report.

FirstEnergy Solutions Corp. notes were mixed as the company awaits the federal government’s decision of whether or not to provide aid to at-risk power plants. Mallinckrodt plc traded up in the medical space. Jonah Energy LLC paper fell in the energy sector.

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