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S&P upgrades Aircastle corporate credit rating

S&P Global Ratings on May 18 raised Aircastle Ltd.'s corporate credit rating to BBB- from BB+.

The outlook is stable.

The stable outlook reflects the rating agency's expectation that Aircastle will keep seeing "modest" growth in its aircraft portfolio. However, the rating agency anticipates the addition of newer, lower-yielding aircraft along with incremental debt to fund the acquisitions, resulting in somewhat lower credit metrics than in the past.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.