NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) releases comment about Air Lease Corporation’s (NYSE: AL, “Air Lease”, or “the Company”) sale of its 25 ATR aircraft fleet to Nordic Aviation Capital (“NAC”), the world’s largest turboprop lessor. AL intends to use the proceeds of the sale to expand its mainline fleet of larger gauge aircraft.
KBRA views the overall impact of the sale of the ATR portfolio as a credit positive as it supports the expansion of AL’s mainline fleet, which is comprised of larger aircraft, and has become the focus of its business strategy as the Company has matured in the aircraft leasing space. The transaction is supportive of Air Lease’s strategic vision, promotes growth and expansion efforts, and further strengthens the Company’s leading position in the aircraft leasing sector. In December of 2015, KBRA affirmed the issuer/senior unsecured debt ratings of A- with a stable outlook for Air Lease Corporation. The ratings are based on KBRA’s Finance Company Rating Methodology, published on April 1, 2013. The ratings and supporting rationale are available at www.kbra.com.
The full comment can be viewed here: www.krollbondratings.com/show_report/3553
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