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Moody’s rates FTAI preferreds B1
Moody’s Investors Service said it rated FTAI Aviation Ltd.’s new preferred shares B1.
“The B1 (hyb) rating assigned to FTAI's new preferred shares is two notches below FTAI's Ba2 corporate family rating. This notching differential is based on Moody's expectation that the loss given default of new preferred shares would be higher compared to the company's senior unsecured notes that comprise the preponderance of the company's debt,” the agency said in a statement.
The proceeds will be used for asset purchases.
The outlook is stable.
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