New FairPoint Communications Chairman and CEO David Hauser began his tenure at the company Wednesday by attempting to discourage talk of a possible bankruptcy protection filing with optimism about the telco's chances to manage its debt through restructuring, while also rebuilding customer faith in the company.
FairPoint, based in Charlotte, N.C., is hoping to postpone an upcoming bond interest payment of about $531 million, though both the company and regulatory observers have to prepare for the possibility that it won't be able to do so. A bankruptcy protection filing would be one possible option, though Hauser told the Associated Press he would do everything he could to avoid taking that route.
For more:
- The Seattle Times has the Associated Press story [1]
Related article
FairPoint named Hauser CEO about two weeks ago [2]
Links:
[1] http://seattletimes.nwsource.com/html/localnews/2009407517_apnnefairpointdebt1stldwritethru.html
[2] http://www.fiercetelecom.com/story/fairpoint-names-duke-energys-hauser-ceo/2009-06-16