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Fitch upgrades Aviation Capital
Fitch Ratings said it upgraded the long-term issuer default rating of Aviation Capital Group LLC and the senior unsecured debt rating to BBB+ from BBB.
The short-term issuer default rating and commercial paper ratings were affirmed at F2.
The outlook is positive.
The agency said the upgrade reflects a revision of Fitch's assessment of the company’s importance to its parent, Pacific Life Insurance Co., a subsidiary of Pacific LifeCorp, combined with and sufficient excess capital and liquidity at plc and Pacific Life Insurance.
These factors, in turn, suggest an increased likelihood of credit and liquidity support being extended to Aviation Capital from Pacific Life Insurance in the event of stress, Fitch explained.
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