Frontier Communications files for bankruptcy protection

[Eugene]

Source: Reuters

TECHNOLOGY NEWS APRIL 14, 2020 / 11:11 PM / UPDATED 3 HOURS AGO

Frontier Communications files for bankruptcy protection

(Reuters) - Frontier Communications Corp has filed for bankruptcy protection in the United States, the high-speed internet company said on Tuesday, as it restructures finances to cut down its borrowings by more than $10 billion.

The company, which warned on its ability to continue as a going concern last month, had been in discussions with some of its lenders and was also mulling restructuring options.

Frontier said it has entered an agreement with its bondholders and received $460 million in debtor-in-possession financing.

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The Norwalk, Connecticut-based company estimated its assets and liabilities both in the range of $10 billion to $50 billion, according to a filing in the U.S. Bankruptcy Court for the Southern District of New York.

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Read more: https://www.reuters.com/article/us-frontier-commn-bankruptcy/frontier-communications-files-for-bankruptcy-protection-idUSKCN21X0AW

[Wellstone ruled]

1. Not surprised.

Seventeen years ago,we carried them on our books as a 120 slow pay customer. Many a time we had to go to their Regional Office and pickup a check for services rendered,when your Service Techs show up to uninstall equipment,suddenly the check appears.

[CentralMass]

2. Bummer. I have Frontier FIOS for my internet provider in Oregon.

[TheFarseer]

3. They had a ridiculous outsized dividend

for I’m not sure how long but a while. Just saying