FTRCQ Frontier Communications Corporation Class B

Frontier Communications Extends Broadband Network in Ohio

Frontier Communications (NASDAQ:FTR) is making enhanced broadband service available to previously unserved residents in 25 counties throughout Ohio, Elena Kilpatrick, Frontier Senior Vice President of Operations, announced today. This deployment reflects a combination of Frontier capital investment and the FCC’s Connect America Fund (CAF) over the past 18 months and brings new broadband opportunities to approximately 12,600 CAF-eligible households while improving speeds to an additional 33,600 households.

“Through ongoing network investments, Frontier is providing broadband and faster speeds to residents throughout the 25 counties where the CAF investment has been made,” Kilpatrick said. “We have been aggressively deploying and upgrading our broadband service and look forward to serving more local residents.”

The FCC established the CAF in 2011 to facilitate broadband deployment to the millions of Americans living in rural areas without access to broadband infrastructure.

The CAF program and investments by Frontier are enabling broadband access to previously unserved households, as well as improvements in broadband speeds and services. Simplified broadband offerings and bundled service packages that provide customers with choice and affordable options are also available. Speeds as fast as 45 Mbps are available, depending on the distance from Frontier’s nearest facilities.

Broadband availability allows businesses and consumers to take full advantage of online education, healthcare, and entertainment options. “Broadband connectivity is critical today, especially in more rural areas,” said Kilpatrick. “Through investment and ongoing enhancements, Frontier is helping to close America’s digital divide.”

Counties with significant Connect America Fund upgrades include Noble, Carroll, Brown and Guernsey, with more than twenty-five percent of total households seeing improvements over the time period.

About Frontier Communications

Frontier Communications Corporation (NASDAQ:FTR) is a leader in providing communications services to urban, suburban, and rural communities in 29 states. Frontier offers a variety of services to residential customers over its fiber-optic and copper networks, including video, high-speed internet, advanced voice, and Frontier Secure® digital protection solutions. Frontier Business Edge™ offers communications solutions to small, medium, and enterprise businesses. More information about Frontier is available at www.frontier.com.

EN
01/06/2017

Underlying

Reports on Frontier Communications Corporation Class B

Vikash Harlalka
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FYBR Quick Hit: ABS debt priced

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Jonathan Chaplin
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This note focuses on changes to the model following 4Q23 results. Earlier today, we published a review of results and additional thoughts following the earnings call. Our net adds, revenue and EBITDA are slightly higher. Capex and FCF burn are also higher. Our long-term thesis remains unchanged. Price target is $54.

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