Pharma names see negativity; Range Resources varies; GTT declines

By James McCandless and Paul A. Harris

San Antonio, Aug. 27 – Tuesday in the high-yield secondary was negative across the spectrum, anchored by pharma and energy.

Pharma names Endo International plc’s and Teva Pharmaceutical Industries Ltd.’s notes dropped in the wake of a high-profile opioid lawsuit judgment.

Meanwhile, in energy, Range Resources Corp.’s distressed issues were active but largely unchanged following a ratings agency downgrade.

Despite rising oil futures, California Resources Corp.’s and Whiting Petroleum Corp.’s notes were under pressure.

Elsewhere, GTT Communications, Inc.’s notes fell as its chief financial officer prepares to leave the position.

TV name Sinclair Broadcast Group Inc.’s issues diverged in heavy trading.

The primary market stayed quiet, waiting for September.

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