Frontier (FTR) -1.1% AH after fellow rural telco CenturyLink (CTL) misses Q4 estimates and...
Wednesday, February 13, 6:55 PM ETFrontier (FTR) -1.1% AH after fellow rural telco CenturyLink (CTL) misses Q4 estimates and issues light Q1 revenue and 2013 free cash flow guidance. Fitch has downgraded CenturyLink's debt to BB+ from BBB- in response to the company's new $2B stock buyback program, which (though accompanied by a dividend cut) the ratings agency believes will result in lower debt reductions over the next 2 years than it expected. CenturyLink had $20.4B in net debt as of Dec. 31. Shares -13.2% AH.
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