Frontier Communications: Memories Of Valeant

4/19/17

To a large extent, Frontier Communications (FTR) reminds me of Valeant Pharmaceuticals (VRX), a company I've followed for years. Although the two companies operate in different industries, they have one thing in common: debt. The two companies borrowed heavily to finance acquisitions, which have not been as successful as predicted.

Now, the two companies have a market capitalization that dwarfs their respective total debt. FTR has about $18 billion in debt while Valeant has about $29 billion. FTR's market cap has fallen from a peak of $9.3 billion in 2010 to $2.3 billion, while Valeant's value has fallen from a peak of $90 billion to $3.29 billion.

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