|Bid||0.6868 x 800|
|Ask||0.6885 x 900|
|Day's Range||0.6603 - 0.6908|
|52 Week Range||0.5200 - 3.5000|
|Beta (3Y Monthly)||1.49|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 24, 2020 - Feb 28, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.77|
Sep.23 -- Bloomberg's Lisa Abramowicz reports on Frontier Communications Corp. notes hitting new lows ahead of a possible debt restructuring plan. She speaks on "Bloomberg Markets: The Close."
Frontier Communications Corporation (FTR) announced today that the Company’s Board of Directors has unanimously appointed Bernard L. “Bernie” Han as President and Chief Executive Officer and a member of the Board, effective immediately. Mr. Han succeeds Daniel McCarthy, who is stepping down as President and Chief Executive Officer and from his position on the Board.
Long term investing works well, but it doesn't always work for each individual stock. It hits us in the gut when we...
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Frontier Communications Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
(Bloomberg) -- Frontier Communications Corp. has started the search for new management to take over the company after it completes what could be the biggest telecom restructuring in nearly two decades, according to people with knowledge of the matter.Advisers for the rural wireline telephone provider have started looking for a possible replacement for Chief Executive Officer Dan McCarthy, who has led Frontier since 2015, the people said. They asked not to be identified discussing a confidential matter.A representative for the Norwalk, Connecticut-based company said it doesn’t comment on rumors or speculation. McCarthy couldn’t be reached for comment.Frontier’s bonds fell across the curve, with its 11% bonds due September 2025 dropping to a record low of 44.75 cents on the dollar to yield nearly 33%, according to Trace data.Frontier is in talks with advisers about solutions to its $17.5 billion debt load, which has swelled in recent years as people stop using land lines. Creditors have been pushing Frontier for a plan, which could include bankruptcy.Due DiligenceTelecom consulting firm Altman Vilandrie & Co. has been hired by creditors to conduct due diligence on Frontier, including the development of a post-reorganization business plan, the people said. The company could file for bankruptcy in the first quarter of 2020, ahead of more than $300 million of interest due in March, the people said.Robert Citrone’s hedge fund, Discovery Capital Management LLC, which is believed by market participants to have bought derivatives protecting against default, has argued that investors will fare better if it files for Chapter 11 sooner rather than later.A group of creditors including Elliott Management Corp. and Franklin Resources Inc. holds nearly 50% of the company’s bonds and is organized with law firm Akin Gump and investment bank Ducera Partners LLC, Bloomberg previously reported. Some members of that group are believed by market participants to have sold derivatives insuring against a Frontier default that expire in December. That would skew their interests against a Chapter 11 filing before that date.A separate group of creditors including GoldenTree Asset Management LP is organized with Houlihan Lokey Inc. and Milbank LLP, Bloomberg previously reported. Frontier is getting advice from Kirkland & Ellis LLP and Evercore Inc.Representatives for Kirkland, Akin Gump, Ducera, Houlihan Lokey, Franklin, GoldenTree, Altman and Milbank didn’t immediately respond to requests for comment or couldn’t immediately comment. Representatives for Elliott and Evercore declined to comment.Court ProtectionFrontier has warned that it may have to file for court protection from its creditors. A restructuring of Frontier’s debt load in bankruptcy would rank among the biggest telecom reorganizations since Worldcom Inc. in 2002, according to data compiled by Bloomberg.Frontier isn’t the only wireline telecommunications firm to run into trouble. Windstream Holdings Inc. sought creditor protection earlier this year after losing a default trial against Aurelius Capital Management LP.The company filed a revised severance agreement with its second-quarter earnings results for McCarthy, listed as 54 years old in this year’s proxy materials. If terminated without cause, McCarthy would be entitled to severance payments, full vesting of 2017 and 2018 restricted stock, full vesting of 2017 and 2018 long-term incentive awards. His 2019 retention and performance awards will be forgiven and no repayment required.McCarthy has worked for Frontier for more than 25 years, joining the board in May 2014, according to the proxy statement. He served as president and chief operating officer before taking over as CEO in April 2015.(Updates with bond price movement and CDS details starting in the 4th paragraph.)\--With assistance from Boris Korby.To contact the reporters on this story: Allison McNeely in New York at firstname.lastname@example.org;Sridhar Natarajan in New York at email@example.com;Katherine Doherty in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Rick Green at email@example.com, Shannon D. HarringtonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
South Florida's international airports posted a healthy uptick in passengers over the past year, highlighting the strength of the U.S. economy.
Frontier Communications' (FTR) third-quarter net loss includes a goodwill impairment of $276 million and a loss of $30 million on anticipated sale of operations in four Northwest states.
NORWALK, Conn.-- -- Total third quarter revenue of $1,997 million Net loss of $345 million, including a goodwill impairment of $276 million and a loss of $30 million on anticipated sale of operations in four Northwest states Third quarter Adjusted EBITDA 1 of $804 million Net broadband unit losses of 71,000 Liquidity of $683 million as of September 30, 2019 Frontier Communications Corporation today ...
Frontier Communications (FTR) provides efficient network management solutions with Managed SD-Wan to address the needs of enterprise customers.
FEATURE An array of business challenges are hitting low-rated companies across the U.S. economy, driving selling in the bottom tier of the corporate-debt market that contrasts with gains in stocks and other riskier assets.
Frontier Communications Corporation (FTR) has reached a Tentative Agreement with Communications Workers of America Local 1298 for a new two-year labor contract covering represented Connecticut employees through October 2021. “Frontier has reached a Tentative Agreement for a new two-year labor contract with CWA Local 1298 in Connecticut that is equitable and will better position Frontier to compete in a challenging and ever-changing marketplace.
Frontier Communications Corporation plans to release third quarter 2019 results on Tuesday, November 5, 2019, after the market closes, and to host a conference call that afternoon at 4:30 P.M.
A look at the shareholders of Frontier Communications Corporation (NASDAQ:FTR) can tell us which group is most...
Skilled investors know to cut their losses before things get really bad. Hopefully J. C. Penney and Frontier Communications investors knew this golden rule.