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Moody’s changes FTAI outlook to negative
Moody’s Investors Service said it changed its outlook for FTAI Aviation Ltd. to negative from stable and affirmed its Ba2 corporate family rating, Ba2 long-term senior unsecured ratings and B1 (hyb) preferred stock rating.
“Moody's changed FTAI's outlook to negative to reflect the company's persistently weak capitalization, measured as tangible common equity to tangible managed assets, of approximately 2% at Sept. 30, 2023, as well as the company's limited available liquidity, with a nearly fully drawn $300 million senior secured revolving facility and a declining cash balance that totaled $52.9 million at Sept. 30, 2023,” the agency said in a statement.
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