S&P rates Aircastle notes BBB-

S&P said it assigned a BBB- rating to Aircastle Ltd.'s proposed senior unsecured notes due 2026.

The proceeds will be used for general corporate purposes, including to repay some of its debt.

The BBB- issuer credit rating reflects the company's position as a mid-sized provider of aircraft operating leases and relatively stable credit metrics, S&P said.

The inherent cyclicality of aircraft lease rates and the often weak credit quality of the company's airline customers partly offset these strengths, the agency said.

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