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European rating agency. Objective, transparent, independent.

Ryanair Holdings plc

Rating History

Rating Watch Outlook Decision Date Action Validity Date Maximum Validity
BBB Outlook POS 14.02.2024 19.02.2024
BBB Outlook STA 15.09.2023 20.09.2023
BB+ Outlook POS 22.12.2022 27.12.2022
BBB- Watch UNW 01.07.2022 07.07.2022
BBB- Watch UNW 04.03.2022 08.03.2022
BBB- Outlook POS 09.02.2022 15.02.2022
n.r. 25.03.2020 27.03.2020 27.03.2020
BBB+ Outlook STA 21.09.2018 28.09.2018

News

  • 19.02.2024
    Creditreform Rating has affirmed the unsolicited corporate issuer rating of Ryanair Holdings plc as well as the unsolicited corporate issuer rating of Ryanair DAC at BBB / L2. Creditreform Rating has also affirmed the unsolicited corporate issue rating of the long-term local currency senior unsecured notes issued by Ryanair DAC at BBB. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. The outlook for the ratings has changed from stable to positive. For more details regarding the ratings, please refer to our update report below.
  • 20.09.2023
    Creditreform Rating has upgraded the unsolicited corporate issuer rating of Ryanair Holdings plc as well as the unsolicited corporate issuer rating of Ryanair DAC from BB+ to BBB. Creditreform Rating has also upgraded the unsolicited corporate issue rating of the long-term local currency senior unsecured notes issued by Ryanair DAC from BB+ to BBB. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. The outlook for the ratings has changed from positive to stable. The initial unsolicited short-term rating of Ryanair Holdings plc and Ryanair DAC has been set to L2. For more details regarding the ratings, please refer to our rating update report below.
  • 27.12.2022
    Creditreform Rating has downgraded the unsolicited corporate issuer rating of Ryanair Holdings plc as well as the unsolicited corporate issuer rating of Ryanair DAC from BBB- to BB+. Creditreform Rating has also downgraded the unsolicited corporate issue rating of the long-term local currency senior unsecured notes issued by Ryanair DAC from BBB- to BB+. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. The outlook for the ratings changed to positive from Watch UNW. For more details regarding the ratings, please refer to our rating press release below.
  • 07.07.2022
    Creditreform Rating has set the unsolicited corporate issuer and issue ratings of BBB- of Ryanair Holdings plc and of the EUR-denominated long-term senior unsecured issues of Ryanair Holdings plc on Watch UNW. The debt securities are included in the ECB's list of eligible marketable assets, which is available on the European Central Bank's website. An outlook is not applicable. For further details on the ratings, please refer to the press release below.
  • 08.03.2022
    Creditreform Rating has placed the BBB- unsolicited corporate issuer rating of Ryanair Holdings plc as well as the BBB- unsolicited corporate issuer rating of Ryanair DAC on watch UNW. The outlook is not applicable. Creditreform Rating has also placed the BBB- unsolicited corporate issue rating of the long-term local currency senior unsecured notes issued by Ryanair DAC on watch UNW. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. For more details regarding the ratings, please refer to our press release below.
  • 15.02.2022
    Creditreform Rating has assigned the unsolicited corporate issuer rating of Ryanair Holdings plc at BBB- with a positive outlook. The rating result reflects Ryanair's leading position in the low-cost airline sector in Europe, as well as its track record of fast-paced expansion over the last decades, all attributable to an efficient and optimized business model. Despite the challenges faced during the Covid-19 pandemic, Ryanair managed to sustain an adequate capital structure and liquidity profile. On the other hand, the Company's fleet expansion amidst still ongoing market volatility could exert negative pressure on Ryanair's financial strengths in the coming years. Albeit improving, earnings results are still negative and it will still take some time to recover to pre-pandemic levels.
  • 27.03.2020
    Creditreform Rating AG has temporarily withdraw the corporate issuer rating of Ryanair Holdings plc and set the ratings to N.R. (Not Rated). The main reasons for this decision are the changing information base regarding the COVID-19 pandemic and the high degree of uncertainty regarding the duration of the crisis and the resulting substantial economic consequences for the aviation industry. As soon as the economic effects of the COVID-19 pandemic for the rating object can be assessed on a more reliable basis, the rating will be resumed.
  • 28.09.2018
    Creditreform Rating has carried out an unsolicited corporate issuer rating of Ryanair Holdings plc. The rating has been set to BBB+ with stable outlook.