Endo, Teva under pressure; Intelsat drops; Cincinnati Bell recoups losses

By Abigail W. Adams

Portland, Me., July 15 – It was a quiet Monday in the distressed debt space with few names seeing notable trading activity, a market source said.

However, the capital structures of generic drug makers Endo International plc and Teva Pharmaceutical Industries Ltd. were under pressure due to an analyst downgrade of both companies’ stock.

Intelsat SA’s junk bonds were also under pressure as the Federal Communications Commission continues to mull proposals for making the C-band available for 5G.

After trading off in previous sessions, Cincinnati Bell Inc.’s 7% senior notes due 2024 recouped their losses in active trading on Monday.

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