Summary

  • Frontier Communications Corp. (NASDAQ:FTR) has lost about 97% of its value over the last three years as the company struggles with massive debt & old infrastructure.
  • The equity is being priced for bankruptcy but the fat lady has not sung just yet for the company.
  • We review FTR’s debt maturity schedule and free cash flow estimates.
  • If FTR can avoid bankruptcy, the equity could appreciate like a call option from these levels, potentially providing 25x upside within 2 years.

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