Frontier Comm. Offering $300 Million Of Notes
Stock quotes in this article:
FTR
STAMFORD, Conn. (AP) Frontier Communications Corp., a provider of phone, TV and Internet services, said Friday it has started a registered offering of $300 million of senior unsecured notes due 2014.
Frontier plans to use the proceeds to reduce, repurchase or refinance debt and for general corporate purposes. Standard & Poor's Ratings Services assigned a preliminary "BB" unsecured debt rating to Frontier's offering Friday, and affirmed a "BB" corporate credit rating on the company. A "BB" rating is non-investment grade. In addition, Moody's Investors Service assigned a "Ba2" rating to the offering. A "Ba2" rating is also non-investment grade, also known as junk. Shares fell 5 cents to $7.65 in afternoon trading.- Loading Comments...
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