Community Health, Tesla, Murray Energy bonds on the rebound after slide; Frontier fall continues

By Paul Deckelman

New York, Nov. 2 – Traders in distressed debt and bonds of underperforming companies saw a marked turnaround in some names which have lately been under a lot of pressure.

They noted that electric car manufacturer Tesla Inc.’s notes – probably the busiest junk bond name of the day – came off their lows after sliding badly on Wednesday in the wake of the company’s report of a big loss and production delays.

Hospital operator Community Health Systems, Inc.’s paper, which had also been on the slide on Wednesday after the company posted osting disappointing numbers, were also up from the plunge they took late in the day on Wednesday.

And coal miner Murray Energy Corp.’s notes were solidly higher on the day.

But telecom services provider Frontier Communications Corp.’s paper continued on its downward path.

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