Opportunistic Eir extends debt as Moody’s upgrades outlook

Telecoms giant got a boost from rating agency Moody’s which upgraded the outlook to ‘stable’

In January Eir added €200m to its debt facility and said it would use the financing, along with cash reserves, to pay down a bond that is maturing later this year. Picture: Fennell Photography

Moody’s gave Eir a vote of confidence on Tuesday as it upgraded its outlook from negative to stable, leading the company to extend its debt to 2029.

The ratings agency reaffirmed the company’s B1 corporate rating, just below investment grade reflecting a higher risk of default, but changed its outlook to reflect the company’s “commercial momentum combined with a strong balance sheet and liquidity position”.

Stephen Tighe, Eir’s chief financial officer, welcomed the change and ...