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Community Health mixed after latest asset sale; Hexion mixed in upswing of activity
By James McCandless
San Antonio, June 26 – Traders reported volume was once again restricted to volume favorites on Tuesday as the market nears the Fourth of July holiday.
Community Health Systems, Inc. notes were mixed after the company announced a definitive agreement to sell one of its Oklahoma hospitals.
Hexion, Inc. issues were mixed, jumping up in activity despite the lack of major news from the company.
Frontier Communications Corp. paper was mixed. Last Thursday, the company announced that its chief financial officer would resign.
Intelsat SA notes gained. Recently, the company announced a buyback plan for its 7¾% notes due 2021.
PetSmart, Inc. issues were mixed. An ongoing dispute with its creditors over a recent equity transfer has cast a pall over its operations.
PHI, Inc.’s paper declined. The company recently announced a cash tender offer for its 5¼% notes due 2019.
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