Moody’s rates Voyager Aviation B1, debt B2

Moody's Investors Service said it assigned a B1 corporate family rating and a B2 long-term senior unsecured rating to Voyager Aviation Holdings, LLC.

The outlook is stable.

“Key considerations supporting Voyager's B1 corporate family and B2 long-term senior unsecured ratings are the company's small competitive scale compared to rated peer aircraft leasing companies, its exposure concentrations to widebody aircraft and certain airline lessees, and its higher than peer average debt-to-tangible net worth leverage,” the agency said in a news release.

“Offsetting credit strengths include the relatively low average age and long average remaining lease term of Voyager's aircraft fleet and the stronger average credit quality of its airline customers compared to certain peers, as well as its demonstrated expertise in managing the risk characteristics of wide-body aircraft.”

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