Frontier Communications Corporation (NASDAQ: FTR) has announced that it has elected to defer making the interest payments due on March 16, 2020 on certain of its senior unsecured notes and enter a 60-day grace period as it continues constructive discussions with its bondholders regarding Frontier´s capital structure, the company said.
In a statement, the company said, “We remain actively engaged in constructive discussions with our bondholders as the company continues to evaluate its capital structure with an eye to reducing debt and interest expense. As part of this process, Frontier has made the decision to take advantage of the 60-day grace period allowed under the indenture to facilitate ongoing discussions as we work to reach a comprehensive resolution. Importantly, we continue to provide quality service to our customers without interruption and work with our business partners as usual.”
Frontier Communications Corporation (NASDAQ: FTR) offers a variety of services to residential and business customers over its fiber-optic and copper networks in 29 states, including video, high-speed Internet, advanced voice, and Frontier Secure® digital protection solutions.