Integra Telecom borrowed $785 million to refinance its debt, freeing up millions for operations and investment.
The Portland company has been repositioning itself in the face of greater competition and a weak economy. Revenues were down less than 1 percent last year at $594 million, flattening out after three years of steeper declines.
So Integra took advantage of low interest rates and more favorable reviews from credit rating agencies to cut its interest payments by more than 25 percent. The company said the refinancing gives it more flexibility to invest in its communications network and add new products.
Read more at OregonLive.com.