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Prospect News home > News index > List of issuers M > Headlines for Macquarie AirFinance Holdings Ltd. > News item |
S&P assigns BB+ to Macquarie notes
S&P said it assigned its BB+ issue-level and 3 recovery ratings to Macquarie AirFinance Holdings Ltd.'s planned $500 million of senior unsecured notes due 2029. The 3 recovery rating (50%-70%; rounded estimate: 65%) indicates meaningful recovery in default, based on the unencumbered assets and fleet equity value in the secured asset pool.
“The BB+ issue-level rating and 3 recovery rating on the company's senior unsecured notes due 2028 are unchanged,” the agency said in a press release.
The company plans to use the proceeds to partially pay down its secured debt facility due 2025, and its revolving credit facility due 2026.
The outlook is stable.
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