Community Health up after hospital sales; FirstEnergy Solutions up on federal-aid reports

By James McCandless

San Antonio, June 1 – Activity in the distressed debt market was moderate on Friday, traders reported, as the short week came to an end.

Community Health Systems, Inc. notes rose as the company announced the completion of the sale of five hospitals.

FirstEnergy Solutions Corp. issues jumped amid reports that the federal government is considering providing assistance to at-risk power plants.

PetSmart, Inc. paper gained for a second day as the market continues to react to the company’s appointment of a new chief executive officer last week.

Intelsat SA notes declined. Recently, the company released a lagging Q1 report. Frontier Communications Corp. issues were mixed. The company is managing the fallout of a recent failed auction for its Florida assets. Mallinckrodt plc paper gained.

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