FirstEnergy Solutions up; Frontier gains more after asset sale talk

By James McCandless

San Antonio, April 5 – Traders reported another quiet day in distressed debt trading, as most activity continues to be seen in news-driven names.

FirstEnergy Solutions Corp. notes rose as reports surfaced that it would be deconsolidated from its parent company as a result of its bankruptcy.

Frontier Communications Corp. issues saw more gains after Wednesday reports that the company is searching for buyers of certain assets.

Ultra Petroleum Corp. paper traded down, seeing the brunt of activity in the distressed energy space as oil futures remain volatile.

Elsewhere in distressed energy, Talen Energy Supply LLC’s notes dropped.

Intelsat SA provided more volume in distressed telecom as its notes continued to climb.

Community Health Systems, Inc. issues were active and mixed in the healthcare space.

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