S&P: International Lease on developing watch

Standard & Poor's said it revised the implications of its CreditWatch review on International Lease Finance Corp. (A-/Watch developing/A-1) to developing from negative.

The agency also raised the short-term rating to A-1 from A-2.

The watch revision and upgrade of the short-term rating parallel the agency's actions on International Lease Finance's ultimate parent American International Group Inc. (A-/Watch developing/A-1), according to S&P.

The actions follow the U.S. Federal Reserve Bank's extension of an $85 billion credit line to AIG, the agency noted.

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