16th May 2014 16:21
LONDON (Alliance News) - Ryanair Holdings PLC Friday said it has received a BBB+ rating from ratings agency Fitch, after the airline sought a ratings review as part of its plan to tap the capital markets for low cost financing for its new 180 Boeing 737-800 aircraft deliveries.
In a statement, Ryanair noted that Fitch's BBB+ rating matches the BBB+ rating awarded by Standard and Poor's. The aircraft deliveries are due to begin in September.
The airline said the ratings reflect the strength of its business model.
"We are pleased with the Fitch rating of BBB+, our second in as many months, following Standard & Poor's BBB+ rating, which makes Ryanair the highest rated airline in the world and reflects the financial strength of Ryanair's business model," Chief Financial Officer and Deputy Chief Executive Howard Millar said in a statement.
"These BBB+ ratings will enable Ryanair to achieve lower cost financing to ensure that we continue to have the lowest costs and offer the lowest fares in Europe for our customers," Millar said.
Ryanair shares were Friday closed at EUR6.35, down 2.6%.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
RYA.L