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0.000924119519457885 0.00071875962624507 0.00205565253106078 0.00164287914570296 0.00236163877194788 0.00215627887873506 0.0019509189855221 0.00143751925248999
Stock impact report

Frontier -3.8% as failed auction sends it back to bondholder talks [Seeking Alpha]

Verizon Communications Inc. (VZ) 
Last verizon communications inc. earnings: 4/24 07:30 am Check Earnings Report
US:NYSE Investor Relations: verizon.com/about/investors
Company Research Source: Seeking Alpha
Frontier -3.8% as failed auction sends it back to bondholder talksFrontier Communications (NYSE:FTR) is stumbling out of the open,down 3.8%, as it'sback in talks with bondholders after an auction of Florida assets failed to garner a high enough price to go through.It got multiple bids for landline assets in Florida -- part of the California/Texas/Florida assets itacquired from Verizon two years ago for $10.5B-- but decided not to sell.Proceeds were expected to go toward reducing a monster debt pile of $17.8B.It's looking to unload the CTF package, but in pieces rather than the package deal it made with Verizon.“The problem is that they have a weak negotiating position," says Creditsights' Lindsay Gibbons. "If they sold Florida for less than what they paid, it wouldn’t look good and it puts a watermark on the other asset values.”See all stocks on the move »Now read:Frontier Communications: Is The Company Delivering On Critical Factors Of Revenue And EBITDA Margin? » Show less Read more
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