S&P rates Air Lease notes BBB

S&P said it assigned a BBB rating to Air Lease Corp.’s senior unsecured notes.

The proceeds will be used for general corporate purposes, including purchasing aircraft and repaying outstanding debt.

The corporate credit rating reflects the company’s position as a mid-tier, albeit rapidly growing, provider of aircraft operating leases, along with its young and diverse aircraft fleet and relatively low debt leverage for an aircraft lessor, S&P said.

The inherent cyclicality of the company’s demand and aircraft lease rates, along with its airline customers’ weak credit quality, offset these positive factors.

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