Is FairPoint in over its head?

Posted May 11, 2009, at 4:10 p.m.

After FairPoint Communications took over Verizon’s land lines and Internet service, many Maine customers complained of problems with email accounts. More recently, some customers in the state complained that Internet service was out for days at a time.

Last week, FairPoint’s credit rating was downgraded after the North Carolina company revealed it was hiring an adviser to explorer a possible debt restructuring. Did FairPoint, grow too fast? Or are FairPoint’s problems growing pains exacerbated by a slumping economy?