On Monday, Shares of Frontier Communications Corporation (NASDAQ:FTR), lost -0.20% to $5.02.
On June 16, Frontier Communications accepted offers from the Federal Communications Commission (FCC) totaling more than $283 million in annual Connect America Fund (CAF) Phase II support to deploy broadband to more than 650,000 high-cost rural locations throughout its 28-state service area.
Dan McCarthy, Frontier Communications’ President and CEO, said “Frontier is a broadband company focused on delivering the life-changing benefits of broadband across our entire service area. CAF Phase II is a critical next step in delivering broadband service – and the major economic benefits associated with it – to rural America. We have reviewed the FCC’s CAF Phase II rules and offers and look forward to partnering with the FCC to achieve our common aim of raised broadband access for rural America. We have decided to accept the CAF Phase II funding more than two months before the formal August 27 deadline because we are eager to start building the infrastructure necessary to provide service to these markets as soon as possible.”
The FCC established the CAF in 2011 to facilitate broadband deployment to the millions of American living in rural areas without access to broadband infrastructure. In 2012 and 2013, the FCC issued CAF Phase I, one-time interim support for deployment of broadband access to unserved and underserved locations. Frontier took part in that round of funding and invested $133 million of CAF Phase I funding in addition to its own capital to deploy or upgrade broadband service to nearly 200,000 locations. This additional support will enable Frontier to continue accelerating broadband deployment across its footprint.
Frontier Communications Corporation, a communications company, provides regulated and unregulated voice, data, and video services to residential, business, and wholesale customers in the United States.
Shares of SandRidge Energy, Inc. (NYSE:SD), declined -2.80% to $1.04, during its last trading session.
On June 10, SandRidge Energy, has closed its formerly declared private offering of $1.25 billion in aggregate principal amount of senior secured notes due 2020 (the “Notes”). The Notes were issued at par and bear interest at a rate of 8.75% per annum. The Notes are secured on a second-lien priority basis and guaranteed by each of the Company’s auxiliaries that guarantee the Company’s revolving credit facility. In addition, the Company’s formerly declared amended and restated first-lien revolving bank credit facility with an initial $500 million borrowing base became effective June 10.
The Company used a portion of the net proceeds from the offering of the Notes to repay all borrowings under its existing revolving credit facility and will use the remainder for general corporate purposes.
SandRidge Energy, Inc., an oil and natural gas company, explores for and produces oil and natural gas properties primarily in the Mid-Continent region of the United States. The company operates through three segments: Exploration and Production, Drilling and Oil Field Services, and Midstream Services.
Finally, Windstream Holdings, Inc. (NASDAQ:WIN), ended its last trade with -1.57% loss, and closed at $7.54.
On June 10, Windstream Hosted Solutions, provider of cloud and data center solutions and part of Windstream (WIN), a leading provider of advanced network communications, launched a new Cloud to Cloud Recovery solution recently. Cloud to Cloud Recovery, which focuses on replicating mission-critical virtual servers and data, provides customers with a new alternative for cloud-based disaster recovery.
“From natural disasters to human errors, data loss and downtime can lead to lost revenue, diminished reputation and unproductive staff. Disaster recovery is an essential safeguard, a requirement in today’s business world,” said Rob Scheible, senior product marketing manager at Windstream. “We developed the Cloud to Cloud Recovery solution to transform how businesses plan for disaster recovery and business continuity within cloud environments. With this solution, disaster recovery is simple, making business continuity a seamless process for each customer.”
Windstream’s Cloud to Cloud Recovery solution leverages the award-winning, enterprise-class cloud replication software from Zerto. The solution secures customer applications by replicating data from their private clouds into a cloud in a Windstream cloud data center. With no hardware to buy and continuous replication and near instant recovery, the Cloud to Cloud Recovery solution is an exceptionally resilient and cost-effective Disaster Recovery as a Service (DRaaS) solution for private or public clouds.
Windstream Holdings, Inc. provides communications and technology solutions in the United States. It offers managed services and cloud computing services to businesses, in addition to broadband, voice, and video services to consumers primarily in rural markets.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
