Uniti Confident Windstream Will Navigate Bankruptcy Gauntlet

Windstream is Uniti's largest customer and tenant under a master lease agreement.

February 27, 2019

1 Min Read

LITTLE ROCK, Ark. -- Uniti Group Inc. (“Uniti”) (Nasdaq: UNIT) commented today on the commencement of voluntary reorganization proceedings under Chapter 11 of the U.S. Bankruptcy Code by Windstream Holdings, Inc. and all of its subsidiaries (“Windstream”) in the U.S. Bankruptcy Court for the Southern District of New York.

Windstream is Uniti’s largest customer and tenant under a master lease agreement. In a press release issued February 25, 2019, Windstream indicated it has secured $1 billion of debtor-in-possession financing, expects to continue operating in the normal course of business, and intends to pay vendors in full for all goods received and services provided to Windstream after the filing date.

Kenny Gunderman, President and Chief Executive Officer of Uniti, commented, “We continue to closely monitor Windstream’s situation, and believe it will successfully navigate through the reorganization process. We were pleased to see Windstream state its intent to continue operations in the ordinary course and pay in full its service providers. We are also encouraged by the Federal Communications Commission’s (“FCC”) recent statement regarding the importance of Windstream’s continued service to its customers, and the FCC’s focus on the importance that federal funds provided to Windstream are put to their appropriate use. We believe access by Windstream to Uniti’s network remains critical to Windstream’s operations and ability to serve those customers.”

Mr. Gunderman continued, “Uniti remains focused on the operations of each of our business segments and serving the interests of our stockholders, our employees, our customers, and our other partners.”

Uniti Group

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