Sunday Test - Government u-turn on plan to transfer debt to Irish Water
Company eager to keep down levels of debt to help it raise multimillion euro loans from domestic and international banks
Almost €500 million of debt incurred by local authorities in the construction of water infrastructure will remain on the state’s books, rather than being transferred to Irish Water, after an eleventh-hour legislative U-turn.
The prospect of the new utility assuming the €460 million debt has arisen as Irish Water enters the sensitive final stages of negotiations for multimillion euro loans from a number of domestic and international banks.
The company is thought to...
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