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S&P rates ASG Finance notes BB-
S&P said it assigned its BB- issue rating to the planned senior unsecured notes due 2029 to be issued by ASG Finance DAC, a wholly owned core financial subsidiary of Avia Solutions Group plc. The recovery rating on the notes is 4, indicating average recovery prospects (30%-50%; rounded estimate: 35%) in default.
“We rate the proposed notes at the same level as our long-term issuer credit rating on ASG and on ASG Finance DAC (BB-/stable/–),” S&P said in a press release.
ASG is expected to use the proceeds for early repayment of notes due in December, and general corporate purposes.
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