Frontier Communications misses interest payment

Frontier Communications will not make an interest payments due on March 16, 2020 on certain of its senior unsecured notes and enter a 60-day grace period.

The company issued the following statement: "We remain actively engaged in constructive discussions with our bondholders as the Company continues to evaluate its capital structure with an eye to reducing debt and interest expense. As part of this process, Frontier has made the decision to take advantage of the 60-day grace period allowed under the indenture to facilitate ongoing discussions as we work to reach a comprehensive resolution. Importantly, we continue to provide quality service to our customers without interruption and work with our business partners as usual."