| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for Radiology Partners, Inc. > News item |
Cano Health, Community Health distressed paper mostly quiet; distressed returns soft
By Cristal Cody
Tupelo, Miss., Feb. 5 – Cano Health LLC’s paper slowed in secondary trading ahead of a long-expected Chapter 11 bankruptcy filing on Sunday.
The 6¼% senior notes due 2028 (C/D) last moved on Jan. 25 on a 7 bid handle with only a handful of trades seen in 2024 and in December, a source said.
The health care space registered a number of bankruptcies and defaults in 2023 and health care-related default candidates are being eyed this year from bond issuers including Radiology Partners Inc., Community Health, Bausch Health Cos., Inc. and Diversified Healthcare Trust, sources said.
Jefferies LLC analyst Brian Tanquilut said in a note released on Monday to Prospect News the firm has a “cautiously positive view” on the health care services space for 2024.
CHS/Community Health Systems, Inc.’s 6 1/8% senior secured second-lien notes due 2030 (Caa3/CCC-/CCC-) failed to attract much secondary interest over the session and were last seen on Friday at 66¼ bid, a source said.
The 6 7/8% senior secured second-lien notes due 2029 (Caa3/CCC-/CCC-) fell about ½ point to just under 69 bid in thin activity on Monday.
Meanwhile, S&P U.S. High Yield Corporate Distressed Bond index year-to-date total return losses widened to minus 2.35% on Friday from negative 2.33% at the week’s start.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.