RCN Delays Interest Payment

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RCN Corp. postponed a decision on whether to make a $10.3 million interest payment, originally due Thursday, on its10.125% senior notes due in 2010.

The company said in a release that it has sufficient funds to make the payment, but it is still in discussions with banks and bondholders on a restructuring of its balance sheet, Dow Jones reported.

If RCN fails to make the payment on or before Feb. 13, it will default on the notes and their holders may declare them immediately due and payable, Dow Jones added.

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