EIR Q1 24: Very good EBITDAaL growth
Eir has reported a good set of Q1 numbers, with underlying SR growth a touch slower, but still good at +2.2% y/y, and EBITDAaL growth of +7.0% y/y from -0.6% y/y in Q4 23 and vs guidance for LSD EBITDAaL growth for the full year. We recently made eir one of our most preferred names in European Telco high Yield – read about that HERE – and these results support our view that although the eir spreads are quite tight, they could be tighter still given the outlook (asset cover) and leverage (and possible rating upgrade to come?).
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- Pan European Telecom Services and Cable
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- Global Emerging Market Telecoms
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