Windstream statement on court ruling in bondholder dispute
LITTLE ROCK, Ark., Feb. 15, 2019 (GLOBE NEWSWIRE) -- Windstream Holdings, Inc. (NASDAQ: WIN) announced tonight that a federal judge in the Southern District of New York ruled against one of its subsidiaries, Windstream Services, LLC, regarding the 2015 spinoff of certain telecommunications network assets into a real estate investment trust (REIT) and its agreements with bondholders. The decision arose from challenges by Aurelius Capital Management and U.S. Bank National Association that the spinoff was invalid under the terms of those agreements.
“We are disappointed in, and frankly surprised by, the ruling and will be taking immediate steps to pursue all available options, including post-trial motions and an appeal,” said Tony Thomas, president and chief executive officer. “Additionally, we will wrk with our creditors on the next course of action. Windstream provides critical voice and data services to customers across the U.S. We remain committed to serving them and ensuring they realize the maximum benefit in transitioning to next-generation technology solutions and premium broadband services.”
Windstream Holdings, Inc. (NASDAQ:WIN), a FORTUNE 500 company, is a leading provider of advanced network communications and technology solutions. Windstream provides data networking, core transport, security, unified communications and managed services to mid-market, enterprise and wholesale customers across the U.S. The company also offers broadband, entertainment and security services for consumers and small and medium-sized businesses primarily in rural areas in 18 states. Services are delivered over multiple network platforms including a nationwide IP network, our proprietary cloud core architecture and on a local and long-haul fiber network spanning approximately 150,000 miles. Additional information is available at windstream.com or windstreamenterprise.com. Please visit our newsroom at news.windstream.com or follow us on Twitter at @Windstream or @WindstreamBiz.
David Avery, 501-748-5876
Chris King, 704-319-1025
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