Frontier Expands High-Speed Fiber Internet to 1 Million Homes and Businesses in Connecticut
Frontier Communications Parent, Inc. (NASDAQ:FYBR) recently announced a significant expansion in high-speed fiber internet access to over 1 million homes and businesses across the state of Connecticut. This move is in response to the increasing demand for data and higher adoption of faster internet speeds in the region, as highlighted by the latest Connecticut Broadband Report.
Recognizing the need for faster and more reliable internet services, Frontier has been committed to delivering high-speed fiber connectivity to its customers over the past three years. This expansion further solidifies the company’s commitment to providing reliable and quality internet access to the people of Connecticut.
The expansion in fiber internet access comes on the heels of another significant development for Frontier Communications. The company recently completed a $750 million fiber securitization offering and term loan refinancing, showcasing the long-term value of its fiber assets and its ability to access investment-grade capital flexibly. This marks the second fiber securitization transaction for Frontier in less than a year, emphasizing the value and potential of the company’s fiber infrastructure.
Moreover, Frontier Communications Parent, Inc. also announced an amendment to its revolving credit facility. This amendment allows the company to increase the amount of new securitization debt it may issue and mandates that a portion of the proceeds be used to refinance first lien debt. This amendment provides Frontier with increased flexibility to utilize securitizations to fund its ongoing fiber build and refinance higher-cost debt, ultimately supporting the company’s growth and development.
With these recent developments, Frontier Communications is well-positioned to meet the growing demands of Connecticut residents and businesses for faster, more reliable internet services. By expanding its high-speed fiber internet access and securing investment-grade capital, Frontier is set to become a key player in satisfying the increasing data needs and speed requirements of customers in the state.
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