Some dealers are believed to have been looking to complete trades of FirstEnergy Corp . bank debt after a report issued by the U.S.-Canada Power Outage Task Force cast blame on the company for the Aug. 14 blackout. The bank debt was quoted in the 96 1 / 2 -98 range, but no paper was seen changing hands. An $8 million piece of paper did trade in the 96 3 / 4 range, immediately following the blackout (LMW, 8/25). Traders doubted that the paper would trade again anytime soon because the spread of FirstEnergy bonds to Treasuries had not widened sufficiently enough to cause alarm. But one trader noted that the credit protection spread did widen last week. The Company "believes the interim report issued by the Joint U.S.-Canada Power Outage Task Force falls far short of providing a complete and comprehensive picture of the conditions that contributed to the August 14 outage," according to a written company statement.