Frontier Receives Negative Outlook From Moody's
Frontier Communications' outlook was downgraded to negative by Moody's Investors Service Wednesday, reflecting what analysts said was the provider's "difficult and protracted path to improving weak fundamentals in advance of sizable debt maturities beginning in 2022" (see 1904300217). Moody's predicted…
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"more pronounced potential for distressed debt exchanges in the next year or so." It expects the company to focus on "capital structure optimization efforts" and sees "limited evidence of sustainable progress from ongoing operational improvement initiatives." The telco declined to comment.