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The debt of bankrupt auto suppliers Meridian Automotive Systems and Collins & Aikman plunged to the single digits last week, highlighting the tough market conditions these companies face as they struggle to emerge from bankruptcy protection.

Bankers at the 1 New York Plaza office of Morgan Stanley can breathe a sigh of relief after an August re-inspection by the New York City Department of Health and Mental Hygiene deemed its eating facilities passable after it failed its first Restaurant Inspection in July.

JPMorgan has reorganized its structured credit businesses in New York, bringing together sales and origination.

Collins & Aikman's debt continued to rise, this time on news of interest in the company by Lear Corp. and speculation Wilbur Ross & Co. had been accumulating a position.

The National Association of Securities Dealers is hammering firms for even the smallest of violations to the Trade Reporting and Compliance Engine (TRACE), handing out more and more fines of $15,000 or more for late reporting as it pushes for more openness in the bond market, compliance officers and lawyers said.

This chart, provided by Citigroup Global Markets, tracks bid-ask prices for par credit facilities that trade in the secondary market.

The following charts show the top five advancers and decliners in terms of % moves in the loan, bond and credit default swap markets for the previous week.

Steve Sterling has joined Bear Stearns as a senior managing director, head of high-yield capital markets and loan sales.

--Lyle Patrick, US LEC cfo, on the merger between US LEC and PAETEC.

Credit players in Europe struggling to ramp up returns on bespoke mezzanine tranches of notes tied to the iTraxx index were dealt another blow last week when spreads on the 3-6% slice unexpectedly drew in.

Synthetic collateralized debt obligations with callable features are taking off in Asia as investors look toward longer-dated deals.

The price of protection on Paris-based car parts maker Valeo blew out Thursday after reports suggested the company is looking to acquire U.S. parts group Visteon.