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Fitch revises AerCap view to negative
Fitch Ratings said it revised AerCap Holdings NV's outlook to negative from stable on increasing coronavirus-related risks, while affirming the long-term issuer default rating and senior unsecured debt ratings at BBB-. The ratings of certain secured financings guaranteed by AerCap were withdrawn as the obligations have been paid in full.
The revision reflects the unprecedented decline in global air traffic caused by the coronavirus pandemic, which could lead to widespread lease deferrals/defaults, airline bankruptcies, aircraft repossessions and impairments absent abatement of the virus in the near- to intermediate-term and/or material sovereign intervention.
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