The Irish Independent says that Eircom is now the fifth riskiest company in the world in terms of the possibility it will default on, or restructure, its debt, according to bond market data. The cost of insuring some forms of Eircom debt is now the fifth most expensive in the world. The cost has been surging this year and spiked in May, around the time of the company's last quarterly results. The company's debt is held through ERC Ireland Finance Limited, which has denied suggestions that a restructuring or a default is on the cards.
As Taken from enn.ie
Now who wants to buy such a risky company?,