S&P shifts Aviation Capital view to stable

S&P said it revised Aviation Capital Group LLC’s outlook to stable from negative and affirmed its ratings, including the BBB- issuer rating.

“Aircraft operating lessor Aviation Capital Group LLC's (ACG) credit metrics were better than expected in 2020 despite the sharp decline in air traffic that caused many of its airline customers to request relief on lease payments, primarily rent deferrals,” S&P said in a press release.

The outlook reflects the forecast that EBIT interest coverage will remain relatively flat in 2021 at 1.3x and will increase to the high-1x area thereafter. “We also expect FFO to debt to remain relatively consistent in 2021 at 8% and to increase to around 10% thereafter,” the agency said.

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