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Home : Leasing Services : International Lease Finances rating cut to negative from stable S And P
International Lease Finances rating cut to negative from stable S And PStandard & Poor's Ratings Services said it has cut its rating outlook on International Lease Finance Corp (ILFC) -- rated 'AA-' -- to 'negative' from 'stable' based on the similarly revised outlook of its indirect parent American Intl Group Inc (AIG).
S&P also said that the outlook change does not reflect credit problems at ILFC itself, which is benefiting from a strong global aircraft leasing market. ILFC's ratings reflect a diversified global airline customer base, ownership of a diverse portfolio of new-technology aircraft with relatively stable asset values and potential support from AIG, S&P said. ILFC, which acquires aircraft from manufacturers and leases them to airlines worldwide under medium-term operating leases, faces inherent risks of cyclical demand and lease rates for aircraft and substantial debt usage to fund capital expenditures which limit credit considerations, S&P added. http://www.forbes.com/afxnewslimited/feeds/afx/2008/02/12/afx4645484.html 40 times read
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