Lumen Confirms Receipt of Letter from Creditors on Asset Sale

Lumen Technologies Inc. said it received a letter from a group of creditors who requested a meeting to discuss the company’s debt maturities and “an apparent event of default by Level 3 relating to Level 3’s use of proceeds from the divestiture of its Latin American business,” according to a regulatory filing.

• During a call with analysts to discuss earnings on Tuesday, management said it doesn’t believe there has been a default under its credit agreements
• A notice of default hasn’t yet been delivered, though “there can be no assurance that debtholders will not deliver a purported notice ...