Moody's assigns eircom loan B3

Moody's Investors Service said it assigned a definitive B3 rating to term loan B2, a new tranche of the existing term loan facility raised by eircom Finco Sarl.

The group's remaining ratings remain unchanged.

Moody's said eircom has received the necessary support to implement the proposed amendments to the senior loan facilities agreement requested by the group in February. In addition, 95% of lenders have extended the tenor of their commitments from September 2017 to September 2019. As a result, €1,913,000,000 of the existing facility has been transferred to the new term loan B2, while only €107 million remains outstanding under term loan B1.

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