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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000020520-08-000019.txt : 20080328
<SEC-HEADER>0000020520-08-000019.hdr.sgml : 20080328
<ACCEPTANCE-DATETIME>20080328112848
ACCESSION NUMBER:		0000020520-08-000019
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080328
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
FILED AS OF DATE:		20080328
DATE AS OF CHANGE:		20080328

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CITIZENS COMMUNICATIONS CO
		CENTRAL INDEX KEY:			0000020520
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				060619596
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11001
		FILM NUMBER:		08717502

	BUSINESS ADDRESS:	
		STREET 1:		HIGH RIDGE PK BLDG 3
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06905
		BUSINESS PHONE:		2036145600

	MAIL ADDRESS:	
		STREET 1:		THREE HIGH RIDGE PARK
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06905

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CITIZENS UTILITIES CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>drawoncobank.txt
<DESCRIPTION>8-K DRAW ON COBANK
<TEXT>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                    FORM 8-K


                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


        Date of Report (date of earliest event reported): March 28, 2008

                         Citizens Communications Company
- --------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

                                    Delaware
- --------------------------------------------------------------------------------
                 (State or other jurisdiction of incorporation)

         001-11001                                     06-0619596
- --------------------------------------------------------------------------------
  (Commission File Number)                 (IRS Employer Identification No.)


    3 High Ridge Park, Stamford, Connecticut               06905
- --------------------------------------------------------------------------------
    (Address of principal executive offices)            (Zip Code)

                                 (203) 614-5600
- --------------------------------------------------------------------------------
              (Registrant's telephone number, including area code)


- --------------------------------------------------------------------------------
                   (Former name or former address, if changed
                              since last report.)

     Check the  appropriate  box below if the Form 8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

     | |  Written  communications  pursuant to Rule 425 under the Securities Act
          (17 CFR 230.425)

     | |  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
          CFR 240.14a-12)

     | |  Pre-commencement  communications  pursuant to Rule 14d-2(b)  under the
          Exchange Act (17 CFR 240.14d-2(b))

     | |  Pre-commencement  communications  pursuant to Rule 13e-4(c)  under the
          Exchange Act (17 CFR 240.13e-4(c))


<PAGE>



Item 2.03.  Creation of a Direct Financial Obligation
            -----------------------------------------

     On March 28, 2008,  Citizens  Communications  Company (the  "Company") drew
down $135 million  (representing  all of the funds  available) under its delayed
draw term loan  credit  agreement  dated  March 10,  2008 with  CoBank,  ACB, as
administrative  agent,  lead  arranger and a lender,  and the other lenders from
time to time party  thereto.  The loan will initially bear interest based on one
month  LIBOR.  The  proceeds of the loan are being used in  connection  with the
repurchase of a portion of the Company's outstanding debt.

     The additional  disclosure required by this item is included in "Item 1.01.
Entry into a Material  Definitive  Agreement" of the Company's Current Report on
Form 8-K filed on March 10, 2008, which is incorporated herein by reference, and
to which the Credit Agreement is filed as Exhibit 10.1.


                                       2
<PAGE>


                                   SIGNATURES


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                  CITIZENS COMMUNICATIONS COMPANY


Date:  March 28, 2008             By:  /s/ Robert J. Larson
                                     --------------------------------
                                           Robert J. Larson
                                           Senior Vice President and
                                           Chief Accounting Officer


                                       3
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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