S&P puts International Lease on watch

Standard & Poor's said it placed its ratings, including the A+ long-term and A-1 short-term ratings, on International Lease Finance Corp. on CreditWatch with negative implications following a similar action on the company's ultimate parent, American International Group Inc. (AA-/Watch negative/A-1+).

The agency said the CreditWatch placement is based on its review of AIG, rather than because of problems in International Lease's own aircraft leasing business, which is performing well. But any downgrade of AIG would cause S&P to lower its ratings on International Lease and could make it more costly for the company to borrow in the public capital markets.

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