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Wesco mixed; Team Health on way up; Envision Healthcare stronger; Logan bonds slide
By Cristal Cody
Tupelo, Miss., Feb. 8 – Wesco Aircraft Holdings Inc.’s secured bonds (Caa3/CCC+) were mixed on Tuesday after improving about 1¼ points to 4 points the previous day.
Wesco’s 8½% senior secured notes due 2024 (Caa3/CCC+) gave back about 2½ points to 83½ bid, a market source said.
Team Health Holdings, Inc.’s paper moved further out of the distressed space on Tuesday on the company’s plan to amend and extend the maturity on its term loan B with the company’s ratings seeing positive moves by Moody’s Investors Service, S&P Global Ratings and Fitch Ratings.
Team Health’s 6 3/8% senior notes due 2025 (Caa3/CCC/CCC-) were quoted over 2 points better week to date near the 92¾ bid area by the day’s close.
Envision Healthcare Corp.’s 8¾% senior notes due 2026 (Ca/CC) softened slightly to 61 3/8 bid in light trading Tuesday but have climbed nearly 10 points since the end of January, a source said.
In China’s distressed property developer space, Logan Group Co. Ltd.’s notes continued to slide after Fitch downgraded the issuer.
Logan Group’s 5¼% senior notes due 2023 (Ba3/BB-/BB-) traded 8¾ points lower at 72¾ bid.
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