Moody’s applies Ba1 to Aircastle notes

Moody's Investors Service said it assigned a rating of Ba1 to Aircastle Ltd.’s senior unsecured notes due 2024.

Aircastle's Ba1 corporate family rating is unchanged by the new issuance.

The outlook is stable.

Moody's said it rated the senior notes based on Aircastle's Ba1 credit profile, the notes' relative priority and proportion in the company’s capital structure and the strength of the notes' asset coverage.

The terms of the new notes are consistent with those of Aircastle's existing senior unsecured debt.

The company intends to use the proceeds for general corporate purposes, which may include debt repayment and aircraft acquisitions.

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