Frontier Communications has elected to defer making the interest payments due on March 16, 2020 and enter a 60-day grace period as it continues discussions with its bondholders regarding the company’s capital structure.
Frontier released the following statement:
“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.”