Fitch to rate Aviation Capital notes BBB-

Fitch Ratings said it expects to assign a BBB- rating to Aviation Capital Group Corp.'s proposed $300 million senior unsecured note issuance.

The proceeds of the note issuance will be used for general corporate purposes.

Fitch said it believes positive rating momentum is currently limited based on Aviation Capital's current capitalization on a stand-alone basis. In addition, further uplift in Aviation Capital's current ratings over the near term is not envisioned unless balance sheet leverage is further reduced below 3.5x, the agency said.

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