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S&P upgrades Aviation Capital multiple notches

S&PGlobal Ratings has upgraded the corporate credit rating of Aviation Capital Group Corp. to A- from BBB-.

The outlookis stable.

The upgradereflects S&P's revision of Aviation Capital's status to parent to strategicallyimportant from moderately strategic. That change was based on the support and earningsdiversification provided by the company to Pacific Life Insurance's parent PacificLife Group, the rating agency said.

S&Palso revised its stand-alone credit profile on the company to "bbb-" from"bb+" based on improved credit metrics, which the company is expectedto maintain through 2017.

The stableoutlook reflects S&P's expectation that Aviation Capital's credit metrics willremain relatively consistent on continued strong earnings and cash flow.

S&P Global Ratings and S&PGlobal Market Intelligence are owned by S&P Global Inc.