Fitch turns eircom outlook to positive

Fitch Ratings said it changed eircom Holdings (Ireland) Ltd.'s outlook to positive from stable while affirming the telecoms company's B+ long-term issuer default rating. The agency also upgraded eir's senior secured instrument rating to BB from BB- and revised the recovery rating to RR2 from RR3.

“The change in outlook to positive reflects an improvement in leverage over the past two years driven by continued EBITDA margin growth and lower restructuring cash flows, and our expectation that underlying telecoms revenue could stabilize after several years of decline,” Fitch said in a press release.

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