Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Willis Engine Structured Trust V > News item |
Fitch cuts Willis Engine Trust III
Fitch Ratings said it downgraded the ratings on the outstanding series A and B fixed-rate notes issued by Willis Engine Structured Trust III to A- and BBB- from A and BBB, respectively.
Also, Fitch affirmed the ratings of the outstanding series A and B fixed-rate notes issued by Willis Engine Structured Trust IV, and affirmed the series A, B and C fixed-rate notes issued by Willis Engine Structured Trust V.
“The rating actions reflect the ongoing deterioration of all airline lessee credits backing the aircraft engine leases in the pool, downward pressure on values and lease rates for certain engine types, Fitch’s updated assumptions and stresses and resulting impairments to modeled cash flows and coverage levels,” the agency said in a press release.
The outlook remains negative.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.