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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 unsecured notes and floating-rate senior unsecured notes.
The company will use the proceeds for general corporate purposes, including to repay some of its debt and acquire aircraft.
“Our issuer credit rating on ACG reflects the company's position as a major provider of aircraft operating leases and as an owner of new technology aircraft with relatively stable asset values,” S&P said in a news release.
“In addition, we take into account the inherent cyclicality of the company's demand and aircraft lease rates as well as the often weak credit quality of its airline customers.”
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