Press Release

Frontier Communications to Enter 60-Day Grace Period on Interest Payment

Company Release - 3/16/2020 8:00 AM ET

Continuing Constructive Discussions with Bondholders

Serving Customers Without Interruption and Working with Business Partners as Usual

NORWALK, Conn.--(BUSINESS WIRE)-- Frontier Communications Corporation (NASDAQ: FTR) today announced that it has elected to defer making the interest payments due on March 16, 2020 on certain of its senior unsecured notes and enter a 60-day grace period as it continues constructive discussions with its bondholders regarding Frontier’s capital structure.

FRONTIER 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.

About Frontier Communications

Frontier Communications Corporation (NASDAQ: FTR) offers a variety of services to residential and business customers over its fiber-optic and copper networks in 29 states, including video, high-speed internet, advanced voice, and Frontier Secure® digital protection solutions.

Investors:
Luke Szymczak
203-614-5044
Vice President, Investor Relations
luke.szymczak@ftr.com

Media:
Javier Mendoza
562-305-2345
Vice President, Corporate Communications and External Affairs
javier.mendoza@ftr.com

Meaghan Repko / Jed Repko
Joele Frank Wilkinson Brimmer Katcher
212-355-4449

Source: Frontier Communications Corporation