S&P assigns BBB to Delos loan

S&P said it assigned its BBB issue-level rating to Delos Aircraft DAC's new $600 million term loan B. Delos is an indirect wholly owned subsidiary of AerCap Holdings NV, which, along with certain other subsidiaries of AerCap, will guarantee the term loan.

The new term loan is expected to mature in 2027, and the company will use proceeds mostly to redeem its Delos Finance Sarl $1.05 billion (outstanding) term loan due October 2023.

“We do not view the proposed changes to the borrower, amount, collateral coverage and guarantors from the existing term loan as material,” S&P said in a press release.

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