Tower credits are said to be weathering the economy well. Crown Castle's bank debt is trading at 100 3/4, while American Tower's "B" tranche traded up slightly over par. A piece of Graham Packaging's bank debt traded up two points to 95, while Gaylord Containers traded up to 95. For news on Owens Illinois and Winstar Communications see related stories on on the site.
In distressed news, a $3 million piece of On Semiconductor traded at 84 3/4. About $100 million of Finova Capital Corp.'s bank debt traded at 79.