Moody's lifts AerCap Holdings

Moody's Investors Service said it upgraded the issuer rating of AerCap Holdings NV to Baa2 from Baa3, the senior unsecured rating of AerCap Ireland Capital DAC to Baa2 from Baa3, the backed junior subordinate rating of AerCap Global Aviation Trust to Baa3(hyb) from Ba1(hyb), and the preferred stock rating of International Lease Finance Corp. to Ba1(hyb) from Ba2(hyb) (together AerCap). Moody's also revised AerCap's outlook to stable from positive.

Moody's said it raised the ratings based on the company's stronger competitive positioning in commercial aircraft leasing following its integration of GE Capital Aviation Services, which it acquired in late 2021.

“AerCap's rating upgrade also recognizes the company's strong liquidity management and reduction in debt-to-equity leverage following losses associated with leased aircraft not recovered from sanctioned Russian airline customers,” Moody’s said in a press release.

The agency said it revised AerCap's outlook assuming the company will maintain solid earnings momentum over the next 12-18 months, that leverage and liquidity measures will be kept within target levels, and that it will be able to obtain the financing required to take delivery of aircraft it has committed to acquire.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.