FairPoint Communications (Nasdaq: FRP) on Tuesday reached another financial milestone in its ongoing recovery by making a voluntary $25 million debt prepayment on its $25 million loan.

By making this repayment with cash on hand, the service provider cut what it owes on its term loan from $995 million as of June 30 to $970 million as of the end of August. 

"Our continued focus on free cash flow generation gave us the confidence to make this voluntary prepayment," said Ajay Sabherwal, executive vice president and chief financial officer, in a release announcing the prepayment. "We believe reducing debt benefits all our stakeholders and is a key objective for us."

Read more: FairPoint prepays $25M on its debt - FierceTelecom http://www.fiercetelecom.com/story/fairpoint-prepays-25m-its-debt/2012-09-04#ixzz25bccvPo5
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