Frontier Communications files for bankruptcy protection [Yahoo! Finance News]
FRONTIER COMMUNICATIONS (FTR)
Last frontier communications earnings: 3/31 05:21 pm
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US:NASDAQ Investor Relations:
investor.frontier.com/investor-relations
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Source: Yahoo! Finance News
) - 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."With this agreement with our bondholders, we can now focus on executing our strategy to drive operational efficiencies and position our business for long-term growth," President and Chief Executive Officer Bernie Han said.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.Frontier also said it would continue with t
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