Several automobile credits are trading up, as dealers speculate that the industry may be starting to recover on better sales earnings. Hayes Lemmerz is trading 87, up from the low 80s. A $5 million piece of Tenneco Automotive's bank debt traded in the 75-76 range, from the low 70s. JL French's debt is trading in the low 80s.
In par news, Emmis Communications' bank debt is trading at 100, while Young Broadcasting's deal is trading at 100.75. SpectraSite Communications' debt has traded to the mid-90s, down from par.