16 May 2014 16:59
FITCH RATE RYANAIR HIGHEST AIRLINE IN THE WORLD
FITCH'S BBB+ MATCHES S&P'S BBB+ RATING
Ryanair Holdings Plc today (16 May) confirmed that it has received a BBB+ rating from Fitch, which matches the BBB+ rating recently awarded by Standard & Poor's, making Ryanair the highest rated airline in the world. These ratings reflect the strength of Ryanair's business model which has a long established track record of profitability, cash generation, and a very strong balance sheet with low levels of debt.
Ryanair has undertaken these ratings reviews (with Citibank as advisors) as part of its plan to access capital markets to source low cost financing for its new 180 Boeing 737-800 aircraft deliveries, which commence in September 2014 and will enable Ryanair to grow by 40% over the next 5 years from 80m to over 112m p.a.
Ryanair's CFO & Deputy CEO Howard Millar said:
"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.
The successful achievement of these BBB+ ratings is part of our plan to access capital markets for low cost finance to purchase our 180 new Boeing 737-800 aircraft. 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."
ENDS
For further information
please contact:
Robin Kiely Joe Carmody
Ryanair Ltd Edelman Ireland
Tel: +353-1-9451212 Tel: +353-1-6789333
press@ryanair.com ryanair@edelman.com
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