GTT better on ownership disclosure; Mattel gains on global trade news

By James McCandless

San Antonio, Aug. 13 – The distressed space trended largely positive, following other markets on news that tariffs on Chinese imports have been delayed.

GTT Communications, Inc.’s notes were better after a regulatory disclosure showed that an activist investor increased his ownership in the company.

Sector peer Frontier Communications Corp.’s issues declined.

Toy maker Mattel, Inc.’s paper gained after the United States announced that it would be delaying the latest round of Chinese import tariffs.

Utility PG&E Corp.’s notes declined after late Tuesday news that it received more committed financing offers.

In oil and gas, California Resources Corp., Oasis Petroleum Inc., and SM Energy Co.’s issues improved with oil futures.

Meanwhile, Exela Technologies, Inc.’s paper continued to rise.

Pharma name Teva Pharmaceutical Industries Ltd.’s notes were under water.

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