Moody's eyes Fly Leasing for trim

Moody's Investors Service said it placed its ratings for Fly Leasing Ltd. and its subsidiaries, including the Ba3 corporate family rating and B1 senior unsecured rating, on review for downgrade. The senior secured bank credit facility rating of Ba2 at Fly Funding II Sarl was also placed on review for downgrade.

“Ratings placed on review for downgrade reflect Moody's expectation that recovery in the severely disrupted passenger airline industry will be slower to develop than originally anticipated, increasing lessors' financial performance risks,” the agency said in a press release.

© 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.