Fitch affirms eircom at B+

Fitch said it affirmed eircom Holdings (Ireland) Ltd.’s long-term issuer default rating at B+ with a stable outlook and senior secured ratings at BB- with a recovery rating of RR3.

“The ratings of eir reflect its limited deleveraging over the past two years due to high capital intensity and significant restructuring costs. We expect capex to remain high as eir aims to significantly roll out fibre-to-the-home (FTTH) network technology over the next five years,” Fitch said in a news release.

“The ratings also reflect eir's position as the leading telecoms operator in a competitive Irish market.”

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