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S&P lowers AWAS to negative
Standard & Poor’s said it affirmed the BB+ corporate credit rating on AWAS Aviation Capital Ltd.
The agency also said it revised the company’s outlook to negative from stable.
The outlook revision reflects the company’s reduced fleet size after the sale of 90 aircraft, along with the somewhat older age of the remaining fleet, which will generate reduced earnings and cash flow, S&Ps aid.
The outlook revision also considers a potential weakening of the company’s financial risk profile, depending on how it uses proceeds from the sale, the agency said.
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