Fitch rates Aircastle, debt

Fitch Ratings said it assigned a BBB- long-term issuer default rating to Aircastle Ltd., a BBB rating to its senior secured debt and a BBB- rating to its senior unsecured debt.

The outlook is stable.

Fitch said Aircastle's ratings reflect its established market position as a lessor of midlife and older commercial aircraft, lower current and targeted leverage relative to peers, a predominantly unsecured funding profile, a high proportion of unencumbered assets, lower order book purchase commitments relative to peers and strong liquidity and cash flow metrics.

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