Dean Foods down after ratings downgrade; U.S. Steel lower on trade news

By James McCandless

San Antonio, May 17 – The distressed space ended the week with a broad negative shift.

Dean Foods Co.’s notes were trending lower in the Friday session after receiving a ratings downgrade.

Elsewhere, United States Steel Corp.’s issues were lower amid news that the United States and Canada have agreed to end steel tariffs.

Sector peer AK Steel Holding Corp.’s paper was also in decline.

Meanwhile, in oil and gas, Weatherford International plc’s notes trickled down as the company works to gain more support for its restructuring.

Ensco Rowan plc’s and Superior Energy Services, Inc.’s issues were mixed while Alta Mesa Resources, Inc.’s paper shot up as oil futures slipped.

Drug maker Teva Pharmaceutical Industries Ltd.’s paper saw gains, ending a week of tumult.

Shipping name Navios Maritime Holdings Inc.’s notes improved.

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