S&P rates Aviation notes BBB-

Standard & Poor's said that it has assigned a BBB- rating to Aviation Capital Group Corp.'s senior notes.

The outlook is stable.

The BBB corporate credit rating is unchanged.

Proceeds of the notes will be used for general corporate purposes.

The ratings on Aviation reflect its position as a major provider of aircraft operating leases, ownership of new-technology aircraft with relatively stable asset values and potential support from parent Pacific Life Insurance Co. (A+/stable/A-1), the agency said.

Inherent risks of cyclical demand and lease rates for aircraft and the company's weaker financial profile relative to its peers are limiting credit considerations.

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