S&P rates BOC Aviation notes A-

S&P said it assigned its A- long-term issue rating to the senior unsecured notes that BOC Aviation Ltd. proposes to issue under its $15 billion global medium-term note program.

BOC Aviation, which S&P rates A-, will use the proceeds for refinancing, capital expenditures, and general corporate purposes.

“We equalize the issue rating on the notes with the issuer credit rating on BOC Aviation because we believe the debt does not have significant subordination risk,” S&P said in a press release.

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