• Agencies widen as economic concerns send funds to safer assets; Fannie Mae offers two-year notes
• Convertibles drop as stocks struggle; Medtronic holds; Hornbeck gets noticed; SanDisk underwater
• Emerging markets: Trading thin, issuance limited on mixed U.S. data; Pemex, KDB price notes
• High-yield primary falls into summer slumber, though busy September seen; cash keeps flowing in
• Investment-grade primary dominated by utilities, most tighten in trading; Kimco does multiple deals
• Municipal yields end flat after earlier decline; Texas prices $7.8 billion TRANs; Houston prices
• Preferreds: Investors tender First BanCorp preferreds; BankAtlantic cancels offer; Kimco sells
• Treasuries climb as weak housing data add to concerns; government wraps solid week for auctions

• Anadarko VP of operations highlights enhanced liquidity, four-planked strategy
• ATP Oil weathering drilling moratorium, poised for growth, CEO says
• Brigham Exploration may sell more assets, redeploy capital to Williston Basin
• BTB REIT likely to use some convertibles to refinance C$21.5 million of interim financing
• Concho to continue to base drilling budget on cash flow, CEO says
• EQT to spend within its cash flow, has no plans to issue debt
• Frontline CFO: Company able to finance new building without using cash from operations
• Key Energy: Company charting course for growth ahead of cycle recovery
• NOVA Chemicals increases cash balance, plans to use cash to repay senior notes on Aug. 30
• Penn Virginia COO: Company ready to drill after improving liquidity
• Regis’ total debt decreases to $440 million in fiscal 2010
• Reynolds improves last 12 months adjusted pro forma EBITDA by 14%
• San Diego Gas & Electric: pleased with $500 million bond sale, fortunate for low interest rates
• Tuesday Morning ends fiscal 2010 with zero outstanding debt
• Whiting Petroleum reduces debt-to-total cap ratio via debt reduction

• Agency spreads mixed on front-end supply, hunt for yields; Freddie Mac sells $3 billion three-years
• Convertibles market: Newell Rubbermaid, Intel active, little changed; SanDisk edges lower on debut
• Emerging markets muted amid summer slowdown; PCCW, Kuveyt Turk price; Venezuela paper eyed
• High-yield market: NRG, Toys, Mueller price as primary pace slows, secondary quiet; Rock drops out
• Investment-grade issuers a mixed bag; secondary sees new deals tighter; Moody’s sells first notes
• Municipal yields close week at historic lows; New Jersey sells $2.25 billion; Massachusetts prices
• Preferred market firms on low yields; Cedar Shopping, Blackstone/GSO Fund sell preferreds
• Treasuries rise as economy continues to weigh on yields; Fed buys $6.2 billion from open market

• Aquilex posts ‘disappointing’ second-quarter results, working to improve operations
• Caterpillar biased toward allocating capital toward growth, CFO says
• Cooper-Standard cautious about balance of 2010, positioned to withstand industry cycles, CFO says
• CRC Health repaid $17 million of debt in Q2, says leverage ratio, interest coverage metrics better
• Foot Locker says stronger financial position provides more opportunities to deploy capital
• Forbes Energy CFO: company will fund next interest payments with cash, no plans to raise capital
• ITC^DeltaCom positioned to focused on revenue growth after improving balance sheet
• LyondellBasell has ample liquidity as buffer for uncertainties: CFO
• Norcraft reports lower leverage ratios at holding company, subsidiary
• Nortek reports $41 million of cash at July 3, pays down revolver
• River Rock able to cover capex, working capital with cash; still exploring refinancing options
• Sbarro CFO: Company needs to improve sales, watch costs to maintain covenant compliance
• Tech Data posts $420 million of debt, $940 million of cash at July 31

• Agency spreads widen as new Fed buying, jobless claims boost Treasuries; FHLB skips issuance
• Convertibles quiet, then come under pressure; Navistar, SunPower improve; Petrominerales prices
• Emerging markets: Risk aversion up, bond issuance down; Venezuela, Banco Bradesco, others price
• High-grade issue volume drops; J&J sells at record-low coupons; traders see new bonds struggle
• High-yield market: Chesapeake, Ally mega-deals lead busiest 2010 primary week; secondary slows
• Municipal yields drop to historic lows; Phoenix Civic Improvement brings $714 million revenue bonds
• Preferreds: Parkway sells $49.37 million preferred shares; Public Storage buys back preferreds
• Treasuries jump as Fed plans to resume buying program; strong results for $74 billion of auctions

• Boise Cascade improved net cash in second quarter, repaid bank debt, says liquidity ‘strong’
• Chaparral Energy improves liquidity in second quarter, looks to increase production
• Coeur d’Alene expecting new mines to drive continued strong cash flow
• First Data CFO: Proposed credit facility amendment aimed at improving flexibility, capital structure
• GEO Group expecting $220 million outstanding on revolver after merger, Georgia project
• Gray Television expects to repay at least $40 million of debt in 2010
• Hanesbrands to acquire Gear For Sports using cash flow, will assume $170 million of debt
• Hexion focused on liquidity; sales and EBITDA show positive momentum
• J.C. Penney cuts long-term debt by $300 million in second quarter
• Noble Group reports $1 billion cash, $7 billion credit line at June 30
• Novelis ends quarter with $1.1 billion of liquidity, focused on capital-allocation options
• Nuveen expects to end 2010 with $180 million or more of excess cash
• Quicksilver taking steps to improve financing strength, balance sheet
• Regal-Beloit looking to acquire, keep debt to EBITDA around 3 times
• Tyson Foods reduces net debt to $1.75 billion in fiscal third quarter
• Vantage Drilling’s board to conduct ‘strategic opportunities session’
• Verso Paper touts liquidity improvements, faces no imminent maturities

• Agency spreads narrow as month-end, rich Treasuries spark buying; Freddie Mac skips issuance
• Convertibles: Gilead prices $2.2 billion of new notes; A&P trades up after plunge; Hutchinson lower
• Emerging markets: Issuance picks up as risk appetite grows; Belarus, Brazil, Chile, Turkey price
• High-yield market: Mega-deals lead nearly $6 billion week as investor inflows keep on coming
• Municipal yields end week unchanged as secondary picks up; Texas Transportation sells $1.5 billion
• Preferreds: IBM, Vodafone file shelves; Duke Realty bought back preferred securities
• Treasuries soften in uneven week as auctions end mixed; long-term bonds fall under late pressure
• Volume steady in investment-grade primary; new bonds improve in trading; corporate spreads contract

• B/E Aerospace prepaid $175 million of long-term debt since Q4 2009
• Ball boasts strong balance sheet, plans to use most excess cash for stock buyback
• Calpine on track to eliminate 2011 debt maturities, focused on 2014 term loan maturity
• Catalyst Paper improves liquidity in Q2 through private placement
• CIT touts debt-cutting progress, to pay down another $1 billion, opens first-lien refinance effort
• Helix Energy Solutions ends second quarter with improved liquidity
• Investors’ defaulted debt recoveries near normal, Moody's report says
• Kansas City Southern repays $271 million of debt in second quarter
• Las Vegas Sands to launch amend-and-extend transaction as part of debt-reduction strategy
• Nielsen generates $67 million free cash flow, still looking to delever
• Roper reports record operating cash flow for first half of 2010
• Safeway: Bond deal netted company’s lowest 10-year coupon, used to replace maturing debt
• Sanmina-SCI generates $28.3 million of cash through third-quarter property sales
• Sprint Nextel expects to repay upcoming debt maturities as scheduled
• Tenneco cuts leverage to 2.3 times as higher earnings drive cash flow
• Tesoro starts strategic business review; margins remain under pressure
• Tristan Oil CEO: Obligation to make coupon payment on 10½% notes now held by Kazakh government
• Unisys reports improved operating flexibility through reduced net debt
• Valassis ends second quarter with ‘very comfortable’ level of leverage
• Valero Energy uses $223 million in second quarter to repay debt
• Virgin Media targeting 3.0 leverage ratio within next three years

• Agencies tighten as thin supply, low Treasury yields prop demand; FHLB reopens three-year notes
• Emerging market debt ‘rock solid,’ sees healthy investor appetite; Waha, Indosat, others price
• Genco, Apache jump on debuts; United Rentals rises on earnings; AmeriCredit paper jumps outright
• Investment-grade traders focus on Goldman; companies issue after earnings; primary tone fluctuates
• Junk primary led by Calpine, Wynn mega-deals, European sector still busy; inflows buoy bond market
• Municipal yields end week unchanged with firmer tone; Illinois sells $1.3 billion G.O. certificates
• Preferreds: BankAtlantic again extends tender offers; Digital Realty Trust to redeem preferreds
• Treasuries reach record-low yields on renewed economic fears in roller-coaster week of trading

• A&P looking to raise capital, up liquidity in light of 2011 maturities
• Alliance Data CEO: Company plans to further enhance ‘robust’ liquidity
• Brookfield high-yield manager: favorable conditions should protect investors from market correction
• Concho Resources to use debt, equity to buy Marbob for $1.65 billion
• Delta Air Lines repays $345 million of debt in second quarter; continued debt reduction planned
• Diamond Offshore lowers special dividend to retain cash, prep for possible acquisition opportunities
• DWS junk chief: low defaults, healthy yields keep junk an attractive asset class
• DWS sees continued light corporate issuance, active high-grade secondary; little Goldman impact
• Ford Motor on course for positive automotive cash flow in 2010, shift to net cash position in 2011
• Griffon to purchase Ames True Temper for $542 million; company expects additional acquisitions
• LIN TV to further increase revolver availability, repay debt in 2010
• Spansion reports $254 million cash balance after making payments to emerge from bankruptcy
• Terex explores strategic uses for capital, chief executive DeFeo says

• Agency spreads mostly flat after choppy week; Freddie Mac’s small five-year reopening disappoints
• Convertibles end week mixed; Intel, AMD drive techs up; Playboy gets bid; Transocean paper buoyed
• Emerging markets new issue pipeline opens, then closes; Latin America perks up; Qatari Diar prices
• High-yield market: NXP, Windstream Cedar Fair deals lead primary; secondary firm; inflows strong
• Large deals hit investment-grade market, issuers lured by low rates; Goldman Sachs back in spotlight
• Munis end week behind Treasuries; Illinois sells G.O. bonds, to price $1.3 billion G.O. certificates
• Preferreds: First State Bancorp terminates offer; Genesis Energy files $750 million shelf
• Treasuries rebound from soft start on economic concerns; auctions struggle before strong 30-years

• AAR planning to generate positive free cash flow in fiscal 2011
• Agilent Technologies: Bond deal went ‘phenomenally well,’ books eight times oversubscribed
• Alimentation Couche-Tard has ‘plenty of available cash’ for growth, acquisitions, CFO says
• Aon secures $1.5 billion bridge for Hewitt Associates merger, plans to issue unsecured notes
• Del Monte Foods highlights shift away from focus on deleveraging
• Deutsche Bank Private Wealth: Emerging markets stay strong, eyed as investment opportunity
• Deutsche Bank Private Wealth: Small municipals, not states, a concern; investors should do research
• Gannett trims debt by $170 million in second quarter, CEO Dubow says
• Marriott on verge of reaching leverage targets, shifting focus toward business growth
• ON Semiconductor CFO: no need for additional debt financing for Sanyo Semiconductor acquisition
• OPTI Canada to evaluate financial resources for 2011, seek to delever
• Shaw Group expects strong cash flow to continue into next quarter
• Tyco Electronics to use $1 billion of cash, $250 million of debt to acquire ADC Telecommunications
• Valmont expects income of Delta segment to offset acquisition costs
• Weyerhaeuser takes last major step in process to gain REIT status

• Agencies hesitate after strong start to week; Fannie Mae’s $6 billion deal restarts primary market
• Convertibles: Bid strengthens; Transocean, Hologic improve; FTI Consulting, Affymetrix hold in
• Emerging markets: Primary market opens up on stronger investor confidence; Transcreditbank postpones
• High-yield market: Fidelity mega-deal leads post-holiday junk primary, Europe active, secondary firm
• Municipal yields mostly unmoved on light activity; Virgin Islands Public Finance revenue bonds price
• New investment-grade issues see heavy demand; Time Warner sells $3 billion bonds; new bonds firm
• Preferreds: Mid-America Apartment to redeem remaining 8.3% preferreds; companies file shelves
• Treasuries slide amid stock rally, new economic data; strong TIPS auction may counter rate bears

• Cliffs Natural Resources plans to use cash, credit facility to fund $757 million acquisition
• Colabor Group expecting to make acquisition before year-end
• Cott plans to raise up to $375 million of new debt to buy Cliffstar
• El Paso CFO: Company now focused on 2011 funding needs
• International Speedway looking to maintain credit metrics in downturn
• Jean Coutu ends quarter with long-term debt of C$184.8 million

• Agencies hesitate after strong start to week; Fannie Mae’s $6 billion deal restarts primary market
• Convertibles: Bid strengthens; Transocean, Hologic improve; FTI Consulting, Affymetrix hold in
• Emerging markets: Primary market opens up on stronger investor confidence; Transcreditbank postpones
• High-yield market: Fidelity mega-deal leads post-holiday junk primary, Europe active, secondary firm
• Municipal yields mostly unmoved on light activity; Virgin Islands Public Finance revenue bonds price
• New investment-grade issues see heavy demand; Time Warner sells $3 billion bonds; new bonds firm
• Preferreds: Mid-America Apartment to redeem remaining 8.3% preferreds; companies file shelves
• Treasuries slide amid stock rally, new economic data; strong TIPS auction may counter rate bears

• Cliffs Natural Resources plans to use cash, credit facility to fund $757 million acquisition
• Colabor Group expecting to make acquisition before year-end
• Cott plans to raise up to $375 million of new debt to buy Cliffstar
• El Paso CFO: Company now focused on 2011 funding needs
• International Speedway looking to maintain credit metrics in downturn
• Jean Coutu ends quarter with long-term debt of C$184.8 million

• Agencies narrow amid month-end buying, hunt for yield; quarter kept pace with rallying Treasuries
• Convertibles ‘hold in’ despite sloppy equity market; Micron trades OK; Ford sees ‘frenetic’ trade
• Emerging markets: Risk aversion returns on global debt, economic concerns; Russian issuers active
• IG primary sees spotty issuance for week; Wal-Mart, Campbell’s among deals; Treasuries move lower
• Junk market wraps up first half with $1.6 billion week; DynCorp leads issuance; secondary eases
• Municipal bond market struggles to get out of rut; Los Angeles brings $1.165 billion in new TRANs
• Preferreds: Ford Motor to resume distributions; Power Financial, TransCanada close offerings
• Treasuries hit highs as weak jobs, China concerns fuel month-end buying; quarter ends on strong note

• CACI projects revenue growth in fiscal 2011, helped by M&A program
• Church & Dwight to apply free cash flow toward M&A, company growth
• Constellation Brands increases debt to fund stock buyback transaction
• Duke Energy says international business to continue redeploying cash toward growth
• Elizabeth Arden planning to continue using cash flow to delever in fiscal 2011
• Noble to buy Frontier Drilling for $2.16 billion using cash, revolver, bridge facility combination
• Omnova reports $124 million of liquidity, $102.1 million of net debt
• Sealy on track to achieve 10% adjusted EBITDA growth in fiscal 2010
• Sunstone Hotel planning new credit facility; using cash for growth

• Agencies widen as revived economic concerns, profit-taking push spreads out; Freddie Mac skips sale
• Convertibles market: Shorter-dated high-grade names active, in line; Biovail gains on merger news
• Emerging markets: World Cup distracts market-watchers, keeps volumes low; primary activity grows
• High-yield primary market revives amid huge liquidity inflow; secondary seen steady after gyrations
• IG market sees bond rush, then trickle; new issues trade mixed; Goldman bonds weaken in secondary
• Municipal yields end flat, tone firmer; Bay Area Toll Authority, Puerto Rico Sales Tax price notes
• Preferred stock: BankAtlantic, Capitol Bancorp extend tender, exchange; Independent Bank wraps offer
• U.S. Treasury prices rally as Fed, data raise economic concerns; government wraps decent auctions

• Beazer Homes unfazed by lack of demand, could ride out additional challenges, CFO says
• Crown Holdings intends to use free cash flow to delever, fund growth in developing markets
• Domtar touts ‘transformed’ balance sheet, sees no urgency on maturing debt following tender offer
• HealthSouth’s new CFO looking to repay debt, improve balance sheet
• KB Home works to return to profitability in volatile sales environment
• Kendle CEO: Company mindful of convertible debt maturing in 2012
• Ralcorp to buy American Italian Pasta for $1.2 billion; financing structure still being determined
• Rite Aid ends quarter with liquidity to withstand weak economy, invest in growth, CEO says
• Roper Industries to keep leverage ratio in line with investment-grade rating, CEO says