GTT Files for Chapter 11 to Implement Prepackaged Plan

GTT Communications and certain of its direct and indirect subsidiaries have commenced prepackaged chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of New York to effectuate a deleveraging of GTT’s capital structure.

• GTT’s foreign businesses and operations outside of the U.S. are not included in the filing and are unaffected by the chapter 11 cases
• Estimated liabilities between $1b and $10b
• Estimated assets of between $1b and $10b
• NOTE: GTT in Restructuring Support Pact With Key Stakeholders
• NOTE: GTT Communications Inc. fell 8.3% as of last close on Oct. 29
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