Nine West up again after bankruptcy filing; FirstEnergy Solutions mixed as aid uncertain

By James McCandless

San Antonio, April 10 – The distressed debt market experienced another low volume day on Tuesday, traders reported, as investors continue to hold off while uncertainty reigns.

Nine West Holdings, Inc. notes climbed again in the wake of the company’s filing for Chapter 11 bankruptcy on Friday.

FirstEnergy Solutions Corp. issues were mixed again as the future of its at-risk plants hinge on the government’s decision on whether or not to provide financial assistance.

California Resources Corp. paper closed up again after the company announced Monday that it had completed a cash and stock offering for working, surface and mineral interests from Chevron.

In distressed telecom, Frontier Communications Corp. notes were higher as the company seeks buyers for certain assets. Intelsat SA issues were mixed. Community Health Systems, Inc. issues were mixed. Talen Energy notes climbed for the third trading day in a row.

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