Fitch affirms Air Lease

Fitch Ratings said it affirmed the long-term issuer default rating and senior unsecured debt ratings of Air Lease Corp. at BBB.

The outlook is stable.

The agency said the affirmation takes into account Air Lease's high quality commercial aircraft portfolio, strong funding profile with a meaningful portion of unsecured debt and peer-superior leverage, which is expected to persist over the long-term.

Air Lease's credit strengths also include its above-average scale, strong and stable profitability supported by long-term contractual lease streams, demonstrated management track record at Air Lease and predecessor organizations and enhanced risk management framework, Fitch said.

The ratings are constrained by elevated key man risk, funding and placement risks associated with the company's outsized order book, above-average lessee exposure to China and above-average widebody exposure.

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