Moody's confirms Aircastle's Baa3 long-term senior unsecured rating, concluding review; outlook is negative
Rating Action: Moody's confirms Aircastle's Baa3 long-term senior unsecured rating, concluding review; outlook is negative. Global Credit Research- 21 Sep 2020. New York, September 21, 2020-- Moody's Investors Service, has confirmed the Baa3 long-term senior unsecured rating of Aircastle Limited.Aircastle is a holding company. Through its subsidiaries, the company acquires, leases, and sells commercial jet aircraft. The company owns and manages on behalf of its joint ventures aircraft that were leased to various lessees. The company's aircraft are managed by a team based in the U.S., Ireland and Singapore. The company's aircraft are subject to net leases whereby the lessee is generally responsible for maintaining the aircraft and paying operational, maintenance and insurance costs, although in certain cases, the company is obligated to pay a portion of specified maintenance or modification costs. The company's aircraft types include: A319/A320/A321, A330-200/300, 737-700/800/900ER, 777-200ER/300ER, E195 and freighters.
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