Moody’s changes AerCap view to positive

Moody's Investors Service said it revised its outlook for AerCap Holdings NV and the company’s affiliates to positive from stable.

“Moody's revised AerCap's outlook to positive based on expectations that the company will continue to make improvements in funding structure by shifting debt funding toward a higher proportion of unsecured debt, increasing unencumbered assets and enhancing the company's financial flexibility and liquidity,” said Moody’s in a news release.

The agency assigned a Ba3 rating to AerCap. Moody’s said it expects that if the holding company ever did sell unsecured notes that it would be backed by the subsidiaries’ guarantees.

Moody’s also affirmed the affiliates senior unsecured ratings of Ba3.

“Moody's affirmed AerCap's senior unsecured ratings based on strong operating performance and effective liquidity and capital management over the past year, which has solidified the company's leading franchise positioning in aircraft leasing.”

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