Fitch puts Aviation Capital on negative watch

Fitch Ratings said it placed the long-term issuer default ratings of Aviation Capital Group LLC, as well as its senior unsecured debt ratings, on rating watch negative.

The rating watch negative follows an announcement that a wholly owned subsidiary of Tokyo Century Corp. plans to buy the remaining 75.5% ownership stake in ACG which it does not already own from ACG's current majority owner, Pacific Life Insurance Co.

The rating watch negative reflects the weaker credit-risk profile of ACG's expected future owner relative to that of ACG's current owner, Fitch said.

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