Community Health continues trading after hospital sales; Windstream remains active

By James McCandless

San Antonio, March 28 – Traders reported a third straight slow day in the distressed debt market on Wednesday as they prepared for the long weekend, with little activity expected in Thursday’s half day.

Community Health Systems, Inc. notes led the session again after the company announced Tuesday evening that an agreement had been signed to sell three hospitals to West Tennessee Healthcare, Inc.

Issues in Windstream Holdings, Inc. saw a second day of activity. On Tuesday, it announced the completed acquisition of networking solutions company MASS Communications.

Talen Energy paper became active as the company gears up to release fourth quarter and total year numbers.

Frontier Communications Corp. and Intelsat SA remained at the top of the telecom space. Mallinckrodt plc was another dominant name in the healthcare sector. Sears Holdings Corp. and Revlon, Inc. remained leaders in volume for the distressed retail space.

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