Frontier Communications files for bankruptcy protection

Wayne Scarberry | Getty Images

Frontier Communications said on Tuesday it would file for bankruptcy protection in the United States as the high-speed internet company restructures finances to cut down its debt load by more than $10 billion.

The company said it has received $460 million in debtor-in-possession financing and that it would continue with the sale of its operations and assets in Washington, Oregon, Idaho, and Montana to Northwest Fiber.