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S&P assigns BBB- to Air Lease notes
Standard & Poor's said it assigned its BBB- corporate credit rating to Air Lease Corp. The outlook is stable.
At the same time, S&P assigned a BBB- rating to Air Lease's unsecured notes.
"The rating on Air Lease reflects its position as a midtier, albeit rapidly growing, provider of aircraft operating leases, its young and diverse aircraft fleet, and its relatively low debt leverage for an aircraft lessor," said credit analyst Betsy Snyder in a news release.
These positives are offset by inherent risks of cyclical demand and lease rates for aircraft and customer airlines' often weak credit quality, the agency said.
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