American Tire notes level; Community Health issues mixed following pricing of offering

By James McCandless

San Antonio, July 5 – The distressed debt market, back from the Fourth of July holiday, saw volume within popular names but subdued everywhere else on Thursday.

American Tire Distributors notes were level. Recently, Bridgestone announced that it would be ending its passenger tire distribution deal with the company.

Community Health Systems, Inc. issues were mixed. A subsidiary recently brought a $1.3 billion offering to market.

PetSmart, Inc. paper was mixed. The company is currently embroiled in a dispute with its creditors.

Frontier Communications Corp. notes were mixed. The company recently announced the resignation of its chief financial officer.

Intelsat SA issues were mixed. The company is preparing to buy back its 7¾% notes due 2021.

In the medical space, Mallinckrodt plc paper improved.

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