S&P rates Aviation Capital notes A-

S&P said it assigned its A- issue-level rating to Aviation Capital Group LLC's proposed senior notes.

The company will use the proceeds for general corporate purposes, including to repay some of its debt and acquire aircraft.

ACG's capital structure consists primarily of senior unsecured debt and a modest amount of secured debt, all of which was issued at the parent level, the agency explained.

“We rate the company's unsecured debt A-, the same level as our issuer credit rating on ACG, because no significant elements of subordination risk are present in its capital structure,” S&P said in a news release.

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