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S&P rates Air Lease notes BBB
S&P said it assigned a BBB rating to Air Lease Corp.'s proposed medium-term notes due 2024.
The BBB issuer credit rating on Air Lease reflects the company's position as a mid-sized provider of aircraft operating leases, young and diverse aircraft fleet and relatively low debt leverage for an aircraft lessor, S&P said.
The inherent cyclicality of aircraft leasing industry lease rates and the often weak credit quality of the company's airline customers partly offset these strengths, the agency said.
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