Fitch: BOC Aviation notes A-

Fitch Ratings said it assigned a final rating of A- to BOC Aviation Pte Ltd.’s S$145 million 3.93% senior unsecured notes due 2025.

The notes are issued under the aircraft leasing company’s $5 billion global medium-term note program.

The proceeds from the senior notes would be used for the company’s general corporate purposes, Fitch said.

The notes are rated at the same level as BOC Aviation’s A- long-term issuer default rating because they constitute direct, unsubordinated and senior unsecured obligations of the company and rank equally with all its other unsecured and unsubordinated obligations, the agency said.

The ratings also reflect a view of a very high probability of extraordinary support to BOC Aviation from its ultimate parent, Bank of China Ltd., Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.