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FairPoint successfully amends asset disposition abilities under loan
By Sara Rosenberg
New York, Nov. 13 - FairPoint Communications Inc. completed on Tuesday an amendment to its credit facility that provides more flexibility for the disposition of assets, according to an 8-K filed with the Securities and Exchange Commission
The amendment allows the company to make restricted dispositions of assets without prior approval of the lenders and increases the consideration that the company may receive from asset dispositions in any fiscal year.
Bank of America is the administrative agent on the deal.
FairPoint is a Charlotte, N.C.-based provider of broadband internet access, local and long-distance phone, television and other high-capacity data services.
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