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Fitch upgrades AerCap Holdings
Fitch Ratings said it upgraded AerCap Holdings NV's long-term issuer default rating and its rated subsidiaries to BBB from BBB-.
The agency also boosted the senior secured ratings assigned to Delos Finance SARL to BBB from BBB-, the senior secured ratings from various debt-issuing, wholly owned subsidiaries of AerCap to BBB+ from BBB, the senior unsecured debt ratings to BBB from BBB-, the junior subordinated notes to BB+ from BB and the preferred stock ratings to BB from BB-.
“The upgrade reflects AerCap's ability to reduce and maintain leverage, as calculated by Fitch, below 2.7x, in combination with the maintenance of a robust funding and liquidity profile, with revolver availability of over $9 billion at Dec. 31, 2022, and liquidity coverage of 1.4x,” the agency said in a press release.
The outlook is stable.
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