Fitch rates Frontier debt BB

Fitch Ratings said it assigned a BB rating to Frontier Communications Corp.'s $600 million of 8¼% senior unsecured debt due 2014.

The outlook is stable.

Proceeds will be used to reduce, repurchase or refinance debt or for general corporate purposes.

The BB rating incorporates expectation for the company to maintain its credit metrics, to sustain strong operating margins in the near term and to have access to ample liquidity, according to the agency.

Frontier plans to reduce net debt leverage in the longer term to the 3.2x to 3.3x range, the agency said.

In 2008, leverage on a net debt basis was just under 3.8x.

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