Fitch to rate Aviation Capital notes BBB+

Fitch Ratings said it expects to assign BBB+ ratings to Aviation Capital Group LLC's proposed issuance of up to $750 million of three-year floating-rate and seven-year fixed-rate senior notes.

The floating and fixed rates of interest will be determined at the time of issuance, the agency said.

“The expected rating is equalized with ACG's existing senior unsecured debt rating and long-term issuer default rating, reflecting the availability of unencumbered assets, which provide support to unsecured creditors, and relatively low levels of secured debt,” Fitch said in a news release.

The agency said it expects that the bond offering will not impact the company's leverage metrics, as proceeds will be used for general corporate purposes, including the repayment existing debt.

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