LOS ANGELES, Jan. 17, 2017 (GLOBE NEWSWIRE) -- Air Lease Corporation (ALC) (NYSE:AL) today announced that it has been assigned a Long-Term Issuer Default Rating of BBB with a stable outlook by Fitch Ratings, Inc. (Fitch). Additionally, Fitch assigned a BBB rating to ALC’s senior unsecured debt.
Fitch highlighted in its press release that the BBB rating reflects ALC’s high quality commercial aircraft portfolio, above average scale, and strong and stable profitability supported by long-term contractual lease streams. Also key to the ratings outcome was ALC’s funding profile, peer-superior leverage and demonstrated management track record.
Gregory B. Willis, Executive Vice President and Chief Financial Officer said, “Achieving a BBB rating from Fitch is another key milestone in ALC’s long-term financing strategy. We are pleased that Fitch recognized the strong credit profile of ALC and the inherent benefits of our aircraft and financing strategies. This rating will help to enhance our access to attractively priced capital and maintains our position as the highest rated standalone aircraft lessor.”
Additional information regarding ALC’s rating assignment can be found in the Fitch press release dated January 16, 2017 available on the Fitch website at www.fitchratings.com. None of the information on the Fitch website, including the press release, is incorporated by reference into or is otherwise a part of this press release. The rating is subject to revision or withdrawal at any time by the rating agency and is not a recommendation to buy, sell or hold securities.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.
About Air Lease Corporation (NYSE:AL)
ALC is an aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline partners worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC's website at www.airleasecorp.com.