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Avaya Holdings Corp. has announced confirmation of its prepackaged Plan of Reorganization by the U.S. Bankruptcy Court for the Southern District of Texas. This plan aims to reduce the company’s debt by over 75% and enhance liquidity to more than $650 million, decreasing net leverage to below 1x. The restructuring is intended to provide Avaya with significant financial flexibility, allowing it to invest in cloud-based communication solutions, particularly in customer experience.
CEO Alan Masarek emphasized the importance of this transformation for improving the company’s competitive position while continuing to deliver services to its customers uninterrupted.
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