Moody's: Atlantic Aviation loans Ba3

Moody's Investors Service said it assigned Ba3 corporate family and B1-PD probability of default ratings to Atlantic Aviation FBO, Inc. and Ba3 instrument ratings to its proposed $70 million first-lien revolver and $465 million term loan.

Moody's also assigned a SGL-3 speculative grade liquidity rating, reflecting adequate liquidity profile.

The outlook is stable.

Proceeds from the proposed term loan, combined with an equity contribution of roughly $275 million from its owner, Macquarie Infrastructure Co. LLC, will be used to refinance all existing debt of Atlantic Aviation. The revolver is expected to remain undrawn at close.

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