FirstEnergy active as it seeks federal protection against closures; Community Health trades after asset sale

By James McCandless

San Antonio, March 29 – Traders reported a light half-day in activity for the distressed debt market as bond markets closed early Thursday for the long weekend.

FirstEnergy Solutions Corp. subsidiary FirstEnergy Nuclear Generation Corp.’s notes became active as it seeks an emergency order from the Department of Energy to keep certain nuclear and coal-powered plants open as they face premature closure.

Issues in Community Health Systems, Inc. traded heavily again after the company announced late Tuesday that an agreement had been signed to sell three hospitals to West Tennessee Healthcare, Inc.

Windstream Holdings, Inc. finished the week with its paper active, still trading off of Tuesday’s news that it completed the acquisition of networking solutions name MASS Communications.

Frontier Communications Corp. and Intelsat SA continued to lead in the distressed telecom sector. A mixed day for oil futures spurred activity in Northern Oil and Gas, Inc. and Talen Energy. Revlon, Inc. continued to keep its position atop the retail sector.

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