Moody’s views Global Aircraft negatively

Moody’s Ratings said it changed its outlook for Global Aircraft Leasing Co., Ltd. to negative from stable and affirmed its senior unsecured notes at B2.

“Moody's revised GALC's outlook to negative from stable to reflect the mounting refinancing risk associated with the approaching September 2024 maturity of the company's $1.9 billion (as of Dec. 31, 2023) senior unsecured notes. Refinancing the GALC notes is made more challenging by higher prevailing interest rates than on the existing notes. Management has stated its intention to raise additional capital through public or private debt offerings and that its directors are assessing options before deciding how to proceed,” the agency said in a press release.

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