Is it bad practice to make a simple if-else statement not on one single line in Python?

At my internship I have noticed that another coworker of mine has manipulated one of my functions from doing this...

if isSinglesMatch:
    name1 = GetName(1, “BUG”)
    name2 = GetName(2, "BUG")
else:
    name1 = GetName(1, "Short")
    name2 = GetName(2, "Short")

to this...

name1 = GetName(1, "BUG" if isSinglesMatch else "Short")
name2 = GetName(2, "BUG" if isSinglesMatch else "Short")

I see that his code is shorter, but is there any advantage like it being interpreted faster? Is it bad to keep it the way I had it in the first place, because in my opinion it is easier to debug my code (there are a few extra variable assignments that I left out of this example).

No one at my internship has told me that I should change the way I do things, I just noticed that this is the way my coworker likes to do it.