Moody’s revises eircom view to stable

Moody’s Investors Service said it revised its outlook for eircom Holdings (Ireland) Ltd., eircom Finance DAC and eircom Finco Sarl to stable from negative.

"The outlook change to stable from negative reflects our expectation that eir's operating performance will recover over the next 12-18 months, after a modest decline in 2023, supported by the good execution of the fiber strategy," said Ernesto Bisagno, a Moody's vice president, senior credit officer and lead analyst for eir, in a press release.

"While the rating remains weakly positioned, we expect a deleveraging trajectory towards the company's reported net leverage target of between 3.5x and 4x," Bisagno added.

The agency also affirmed eir’s B1 corporate family rating, its B1-PD probability of default rating and the B2 ratings on its debt issued through eircom Finance DAC and eircom Finco.

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