tag:blogger.com,1999:blog-1527840491496268397.post4744387916445044385..comments2024-03-08T11:20:30.095-07:00Comments on Credit Bubble Stocks: Distressed Debt Watch - November 2019Unknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1527840491496268397.post-38427632871312181762019-11-08T16:49:12.349-07:002019-11-08T16:49:12.349-07:00Frontier Communications Corp. has started
the sear... Frontier Communications Corp. has started<br />the search for new management to take over the company after it<br />completes what could be the biggest telecom restructuring in<br />nearly two decades, according to people with knowledge of the<br />matter.<br />Advisers for the rural wireline telephone provider have<br />started looking for a possible replacement for Chief Executive<br />Officer Dan McCarthy, who has led Frontier since 2015, the<br />people said. They asked not to be identified discussing a<br />confidential matter.<br />A representative for the Norwalk, Connecticut-based company<br />said it doesn’t comment on rumors or speculation. McCarthy<br />couldn’t be reached for comment.<br />Frontier’s bonds fell across the curve, with its 11% bonds<br />due September 2025 dropping to a record low of 44.75 cents on<br />the dollar to yield nearly 33%, according to Trace data.<br />Frontier is in talks with advisers about solutions to its<br />$17.5 billion debt load, which has swelled in recent years as<br />people stop using land lines. Creditors have been pushing<br />Frontier for a plan, which could include bankruptcy.<br /><br />Due Diligence<br /><br />Telecom consulting firm Altman Vilandrie & Co. has been<br />hired by creditors to conduct due diligence on Frontier,<br />including the development of a post-reorganization business<br />plan, the people said. The company could file for bankruptcy in<br />the first quarter of 2020, ahead of more than $300 million of<br />interest due in March, the people said.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-50986731640296831582019-11-06T18:43:10.148-07:002019-11-06T18:43:10.148-07:00you missed MDR!you missed MDR!jHurthttps://www.blogger.com/profile/04137029150343569722noreply@blogger.com