Fitch affirms Aircastle

Fitch Ratings said it affirmed the long-term issuer default rating and senior unsecured debt ratings of Aircastle Ltd. at BBB-. The outlook is stable.

The agency said the actions are being taken in conjunction with a broader aircraft leasing industry peer review.

Fitch said the affirmation reflects Aircastle's established market position as a lessor of midlife and older commercial aircraft, adequate current and targeted leverage, a predominantly unsecured funding profile, a high proportion of unencumbered assets, lower order book purchase commitments relative to peers, and strong liquidity and cash flow metrics.

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