Aircastle Limited (NYSE: AYR) ("Aircastle" or the "Company") announced today that Moody's Investors Service has raised the Company's corporate family and senior unsecured credit ratings to Baa3 from Ba1 based on Aircastle's improved performance prospects, reduced fleet risk, conservative capital position and effective liquidity management.
Mike Inglese, Aircastle's Chief Executive Officer, stated, "Aircastle is now part of a select group of global aircraft leasing companies with investment grade credit ratings from all three major rating agencies. We are very pleased that Moody's, S&P and Fitch recognize the strength of Aircastle's business platform and our unique position in the industry." Mr. Inglese continued, "As the leading investor in the secondary aircraft market, Aircastle is positioned to continue to grow in a disciplined and profitable manner. We believe that three investment grade credit ratings will substantially broaden Aircastle's liquidity base and funding access, and should enable us to efficiently raise competitively priced capital in the global markets to further drive profitable growth."
Additional information regarding Aircastle's ratings upgrade can be found in the press release dated August 13, 2018 on the Moody's website at www.moodys.com.