Fitch Ratings downgraded the long-term issuer default rating of Frontier Communications Corp. and its subsidiaries to B from B+.
The ratings action reflects a Fitch base case forecast for 2018 that is "modestly lower" than the agency's previous expectations, and also incorporates a challenging operating environment for wireline operators.
The rating agency also assigned a BB/RR1 rating to Frontier's proposed $1.6 billion second-lien senior secured notes due 2026.
The outlook on the company is stable. Fitch expects slight improvements in revenue in 2019 and the succeeding years.
