Fitch gives BBB- to AerCap

Fitch Ratings said it assigned an initial long-term issuer default rating of BBB- to AerCap Holdings NV and senior secured debt ratings of BBB to several of AER's financing subsidiaries.

The outlook is stable.

The ratings reflect AerCap's relatively low leverage, attractive aircraft fleet, diverse customer base, consistent operating performance, strong competitive positioning and solid management team, the agency said.

The ratings are constrained by the company's fully secured funding profile and concentrations in its lender group, the agency noted.

The ratings also reflect the company's commitment to maintain a relatively low debt-to-equity ratio, was 2.7 times as of Dec. 31.

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