Despite a heavy focus on HealthSouth Corp. last week, none of its bank debt changed hands in the secondary market. Traders quoted the paper in the 80s when net-backs due to unfunded commitments are taken into account, and in the mid-60s when only the net-backs from letters of credit were included. One dealer speculated that the paper could ultimately be worth about 55 cents on the dollar. Last week, the company's banks blocked the $350 million in maturity payments due on HealthSouth's 31/4% convertible notes and a $17 million interest payment due on its 103/4% notes. He said that about 25% of the company's $1.25 billion revolver is estimated to be funded with another 6% being allocated to letters of credit. A spokesman for the company declined comment.