S&P Assigns SD Rating to Frontier After Interest Payment Deferral
S&P lowered the credit rating of Frontier Communications Tuesday to SD, or selective default, after the company announced Monday it "elected to defer making the interest payments due on March 16" on certain senior unsecured notes and entered a 60-day…
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grace period to discuss its capital structure with bondholders. The company had no further comment Tuesday beyond its statement. The telecom vowed to "continue to provide quality service to our customers without interruption and work with our business partners as usual."