Tuesday, March 10, 2020

Frontier Communications to Skip Payments

"Frontier Communications Corp. will forgo coupon payments due March 15 as it prepares to file for bankruptcy with a plan that cuts its debt and hands control of the company to existing creditors, according to people with knowledge of the plans."
The April 2020 maturity traded at 35 cents!


eahilf said...

Do the creditors want control of the company? -- I'm sure they'd prefer their money back, especially with economic trouble looming, and the fact Frontier already sold key assets.

Ponch73 said...

Stock is down exactly 50% since the day after reporting Q3 earnings, which was November 6, 2019.