Ryanair paves way for bond issue with first credit rating
DUBLIN, March 20
DUBLIN, March 20 (Reuters) - Ryanair has secured its first credit rating as it prepares to tap capital markets to finance its order for 175 Boeing jets, gaining a BBB+ rating from Standard & Poor's, the Irish airline said on Thursday.
Europe's largest airline by passenger numbers has raised funds in the past through bonds backed by the U.S. government-owned ExIm bank, but is preparing to tap markets directly for the first time to lower its cost of financing.
A Ryanair spokesman declined to say when the company's first bond issue would take place. Deliveries of the airline's order of 175 Boeing 737s are due to begin later this year.
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