Phone company asks payment delay [Telecom]

(PORTLAND, Maine) FairPoint Communications wants to delay a scheduled $11.25 million debt payment that's due at the end of March.

FairPoint, which operates about 1.6 million customer lines in Maine, New Ha= mpshire and Vermont, is asking Maine's Public Utilities Commission to appro= ve the payment delay until June. It's pledging to resume regular quarterly payments after that.

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Joseph Singer
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Hmmm. I wonder what happen if they default. Does Verizon move in to snatch it back up again at a discount?

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T

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