LONDON (S&P Global Ratings) June 7, 2016--S&P Global Ratings today assigned its 'B' issue rating with a '3' recovery rating to the proposed €500 million senior secured notes, due 2022, to be issued by eircom Finance Designated Activity Company, a subsidiary of eircom Holdings Ltd. The Ireland-based fixed-line telecommunications company intends to use the proceeds of the proposed notes to refinance the existing €350 million senior secured notes and repay a portion of the existing term loan B. We understand that the proposed notes will rank pari passu with the existing senior secured facilities borrowed at the eircom Finco S.a.r.l. level, as per the terms of the intercreditor agreement. Concurrently with the launch of the proposed notes, the company is
