S&P rates AerCap facility BBB

Standard & Poor's said it assigned its BBB issue-level rating to Stratusfunding Ltd.'s $360 million secured loan facility (guaranteed by AerCap Holdings NV) with a recovery rating of 1, indicating an expectation that lenders would receive very high (90%-100%) recovery of principal in the event of a payment default.

The facility was used to finance four Boeing 787-8 aircraft.

S&P said the ratings reflect its view of AerCap’s position as one of the two largest aircraft lessors and increased debt leverage after its May 14, 2014 acquisition of competitor International Lease Finance Corp.

The agency characterizes the company's business risk profile as "satisfactory," its financial risk profile as "significant" and its liquidity as "adequate" under the criteria.

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