Lumen has negotiated an updated and restated transaction support agreement ("TSA") with a group of creditors who now represent about $12.5 billion of the firm and its subsidiaries' debt on January 25, 2024. It represents about 70% of Lumen and Level 3 debt due until 2027.
The modified TSA has more creditors than the Oct. 31, 2023 agreement. The TSA will prolong debt maturities to 2029+. New long-term debt and a $1 billion revolving credit facility will finance the firm for $1.325 billion. Lumen anticipates to close TSA transactions in the first quarter of 2024, pending closing conditions.
Lumen revealed Wi-Fi 7 certification for two wireless devices on January 8, 2024. These gadgets, released a few days ago, are suitable for bandwidth-intensive activities like gaming, VR, 8K video streaming, and massive data transfers. Lumen claimed to be the first to reach Wi-Fi CERTIFIED 7 devices with its proprietary solutions. Two Wi-Fi Alliance-certified Lumen Wi-Fi 7 devices are W1700K (desk or wall mount) and W1701K (wall plug-in).
LUMN released a proprietary Wi-Fi 7 gadget on December 29, 2023, to revolutionize wireless communication. This technique will increase Quantum Fiber multi-gig users' Wi-Fi connectivity.
The new gadget covers up to 90% of a home, reducing the need for extra nodes and improving network coverage. Multiple users and high bandwidth are supported without significant ethernet cable connections. It's great for 8K streaming, gaming, VR, and huge data transfers.
Management announced a $110 million contract from the Defense Information Systems Agency to provide mission-critical network services to the Department of Defense on November 7, 2023.
Our proven algorithm does not expect Lumen to beat profits this time. A positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) boost earnings beat probabilities.
LUMN has a #3 Zacks Rank and 0.00% Earnings ESP. Our Earnings ESP Filter finds the best stocks to buy or sell before reporting.
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