Charter Communications' "B" tranche is being bid at 100 1/4, up from levels in the 99 3/4 range. A $5 million piece of McCleod USA traded over 100 this week. A bond deal is reportedly helping the levels. A $5-10 million piece of Young Broadcasting traded at 100 1/2.
Credit Suisse First Boston announced today that it is eliminating assignment fees, a move that some traders said could prompt others to follow suit. A handful of other firms are already doing the same. CSFB said it's taken the move to improve liquidity.
On the distressed side, a piece of Sun Healthcare Group's bank debt traded down slightly to the high 20s range. One dealer said "a big seller" has pushed down the levels, but added that the health care industry is doing better overall.