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S&P rates Air Lease notes BBB
S&P said it assigned its BBB issue-level rating to Air Lease Corp.'s proposed senior unsecured notes.
“Our BBB corporate credit rating on Air Lease reflects the company's position as a mid-tier – albeit rapidly growing – provider of aircraft operating leases, its young and diverse aircraft fleet, and its relatively low debt leverage for an aircraft lessor,” S&P said in a news release.
“The inherent cyclicality of aircraft lease rates and the often weak credit quality of the company's airline customers partly offset these strengths.”
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