FairPoint Communications has revamped its balance sheet and come out of bankruptcy. FairPoint has restructured its balance sheet to reduce its outstanding debt by 64% from about $2.8 billion to about $1 billion. The communication services company has also received a $75 million revolving credit facility. FairPoint has also appointed new board of directors, with Paul Sunu as the CEO.

Click here for the release from PR Newswire.